Backnotes

Enterprise, Business Growth, and Size

Understand and explain the concepts of enterprise and entrepreneurship.

  • Enterprise; Business skills, qualities and willingness to take financial and other business risks
  • Entrepreneurship; The process of identifying a business opportunity, organizing the resources needed to start and run a business and taking the risks and rewards it involves

Understand and explain the characteristics of a successful entrepreneur

  • Risk Taker; Entrepreneurs’s willingness to take considered risks is vital in business. An entrepreneur is not afraid of failure
  • Confident; A successful entrepreneur will have a clear belief in their own abilities and ideas. Someone who lacks confidence will be unable to convince investors, banks, suppliers and customers.
  • Hard-working; Many entrepreneurs have to work long hours,a t weekend and during holidays
  • A good communicator; An entrepreneur must be a clear and confident communicator when sharing ideas with investors and when promoting their business

Understand and explain the contents of a business plan and how they assist entrepreneurs

  • Aims and objectives of the business
  • Description of the goods and services it will offer
  • A plan for how and where production will be organised
  • The resources the business will require
  • It evaluates weather it is possible to turn the idea into a business
  • It sets out what and how things needs to be done and when to achieve objectives
  • It monitors how well the business is performing against the plan

Understand and explain why and how governments support start-ups, including through grants and training schemes

  • They reduce unemployment
  • It can boost economic growth
  • It can encourage social enterprise (enterprises that help the environment)
  • Grants; Non-repayable sums of money to help fund the business. Can be used for equipment, training and employing workers
  • Low-cost loans; Loans of money repayable at a low rate of interest. Can be used for equipment, training and employing workers
  • Training schemes; The government pays the cost of training a new employee. It can help increase the skills and knowledge of the employees

Identify different methods of measuring business size and their limitations

  • Firms with less than 50 employees are considered small. However not all large firms employ lots of workers
  • LIMITATIONS; Some large firms are capital-intensive and employ few workers using more machinery
  • The money invested in the productive aspects of the business by its owners.
  • LIMITATIONS; Some large firms may be labour-intensive and therefore their production requires a large employment and little capital
  • How much output firms produce (Number of products or revenue)
  • LIMITATIONS; A major shipbuilding company may produce one large product per year while a bakery will produce thousands of cakes
  • The proportion of total sales of a product achieves by one firm
  • LIMITATIONS; Not all markets are big. A local business may be very small in terms of market share, but very big in the local city.

Give reasons why some business owners may want to expand their business

  • Banks may be willing to lend more money
  • Suppliers of material may give discounts to large businesses buying these items in bulk
  • A large firm may have more financial resources to invest more in machinery
  • Business managers can increase their salaries

Give different ways in which business can grow

  • Internal Growth; A business expands its existing operations. Equipment, employees, location. Slow but easy to manage
  • Merger; Two or more businesses joining together
  • Horizontal Integration; Involves businesses engaged in the production of the same types of goods or service. This is the most common
  • Vertical Integration; Involves businesses at different stages of production. Car manufacturers + Car retailer
  • Lateral Integration; Involves businesses in different industries in the same or different stage of production. Also called conglomerate merger

Give problems linked to business growth and how they might be overcome

  • Have local managers at each business and communicate with meetings
  • Expand more slowly and buy in bulk
  • Expand more slowly and adopt capital-intensive production methods

Give reasons why some businesses remain small

  • The size of the market is small (local population is low therefore customer numbers don’t increase)
  • Access to capital is limited (personal problem and credibility in banks is low)
  • Some business may decide to remain small (Profit is good and running a large business is hard)

Identify and explain the causes of business failure

  • Not everyone has the skills required or the money for courses to be a good manager
  • Changed in customer preferences
  • Increasing competition
  • Failure of major customers
  • Happens when a business is unable to pay its employees, suppliers and other running costs

Identify and explain why new businesses are at a greater risk of failing

  • Lack of skills and experience
  • Lack of finance
  • Failure to research and plan

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1.3 enterprise business growth and size, contents of a business plan and how business plans assist entrepreneurs, methods of measuring business size, why some businesses stay small, 1.3.1 characteristics of successful entrepreneurs.

An entrepreneur is someone who invests capital, takes a risk and starts up and operates a new business venture.

Entrepreneurship drives business growth and innovation. You need to be able to identify and explain four different characteristics of successful entrepreneurs.

⭐⭐⭐Top Tip ⭐⭐⭐ It’s helpful to have an entrepreneur who has inspired you in mind when thinking of examples, like Mark Zuckerberg or Michelle Phan.  

Creativity , also known as innovation or vision, is the ability to generate new ideas or fresh thinking for new products or services to gain competitive advantage.

Resilience ,  also known as optimism or the ability to bounce back. All entrepreneurs will face many setbacks and have to overcome these and not give up on their aims.

Hard Working ,  entrepreneurs often have to work long, irregular hours late into the night and on weekends, especially during the start-up phase of the business.

Multi tasking ,  also known as problem-solving or independence. Before they can afford to hire experts, entrepreneurs will have to juggle all the tasks of the business and develop skills in many different areas like marketing, finance and operations.

“Failing to plan is planning to fail” and a business plan is no exception. It is considered crucial if a business is going to survive.

Business plan questions can come up as simple knowledge questions on the contents of a business plan, or you may have to explain how a business plan increases the chances of a startups’ success.

You may be asked longer Paper 2 question or shorter knowledge based Paper 1 questions like this one:

 
(b) Identify four different sections of a business plan.  
Section 1:…………………………………………………………………………………………………………..  
Section 2:…………………………………………………………………………………………………………..   
Section 3:…………………………………………………………………………………………………………..  
Section 4:………………………………………………………………………………………………………….. [4]  

A business plan is a document setting out a business’s objectives and how it will achieve them.

It is usually drawn up when starting up a new business or when there will be an important change in how the business is run, like starting a new service or investing in a new outlet.

We will run through four of the most common sections, but other sections could be included depending on the type of business.

Finance concerns how much capita l the business will need and where will it come from. For example, $10,000 start-up capital required from a bank loan.

It will also look at forecast revenue and costs so the business can estimate how much profit they will make. It makes sure there is enough capital to start the business.

It can also show banks or potential investors the business has a solid plan to control costs, earn revenue and repay loans.

The Marketing Plan involves researching the market and planning how to sell a product or service. It ensures there is a sufficient budget in place to pay for marketing campaigns and outlines strategies for building a customer base. It can also help forecast future volume demand.

The Operations section shows how the product or service will be produced. It ensures the firm can find suppliers , and produce effectively at the output needed to ensure the customer demand is satisfied.

Human Resources outlines the employees that will be required, and what skills or training they will need. It means entrepreneurs can employ the right people for the job and the business can be productive quickly. For example, a restaurant will have to find skilled chefs and train service staff.

Why and how governments support business startups

Governments around the world spend billions of dollars helping startups and entrepreneurs. There are a number of ways governments can help startups.

Training schemes help entrepreneurs draw up a business plan and forecast their sales and costs for the first year.

Grants are payments for equipment or to help with start-up costs.

Governments can also offer tax breaks , free office space , and subsidies for hiring new employees.

So why do governments help?

 

This links with Unit 6 and government objectives, because successful startups help governments achieve many of their targets.

Employment creation: successful startups employ workers and reduce unemployment.

Economic growth : entrepreneurs contribute to developing economic activity by creating profits, and paying employees and suppliers.

Innovation and technological change : often entrepreneurs come up with new ideas which can inspire other startups, and make the economy more competitive and productive.

1.3.2 Methods and Problems of Measuring Business Size

Business size is not a hugely popular topic in IGCSE exam questions, it’s more likely to come up in short answer questions like this one:

 
(a) Identify two methods of measuring business size  
Method 1 ………………………………………………………………………………………………………………………  
Method 2………………………………………………………………………………………………………………………[2]    

However, it’s still important to learn the four main methods of measuring business size and be aware of the limitations of the different methods of measuring business size.

Let’s use the example of X-Ray Microchips and Yummy Oranges.

4 Designers
6 Maintenance Staff

10 Total employees
High tech production line $100,000500 microchips at $100 = $500,000
480 Farm workers
20 Managers

500 Total Employees
Basic fruit picking tools $20,000500,000 oranges at $1 = $500,000

The first method of measuring business size is the number of employees . Simply add up all of the employees in X-Ray Microchips and Yummy Oranges and see which one has more.

The difficulty is that some large businesses may have invested in machinery,  and have a high output but a low number of employees. If we only look at the number of employees as a means of measuring business size, it may   give a misleading impression of business size.

Capital employed is  calculated by adding up the value of all the assets in a business like buildings and machinery. X-Ray Microchips has much more capital employed than Yummy  Oranges, because it is a high technology business and has to invest high levels of capital in its production line.

Value of output is calculated by multiplying market value of the product by the level of output.

market value of the product x the level of output

At Yummy Oranges the value of output is 500,000 oranges x $1 =$500,000

However, we can’t be sure that all the oranges will be sold or the prices might change, which limits the accuracy of this figure.


Usually when comparing business size it’s best to compare like with like.  So  compare orange producers with other fruit producers or microchip manufacturers with other technology suppliers.  
⚠⚠   ⚠⚠
Profit is NOT a measure of business size. If a huge multinational like Netflix makes a loss, it doesn’t mean that a sole trader hairdresser is a larger organisation, as they earned a $100 profit.  

1.3.3 Business Growth

Some companies grow to global domination like the tech giants Facebook, Apple, Amazon, Netflix and Google (FAANG), with a combined market capitalization of over $4.1 trillion as of January 2020. Others stay small like your local corner store.

Business growth may not come up too often as a stand alone question, but it is crucial in understanding other concepts. The importance of business growth is often an important part of longer, higher-scoring questions.

contents of a business plan igcse

Why the owners of a business may want to expand the business

Profit is the easiest one to remember. The bigger a company grows, the more products or services it can sell. Therefore, if a business grows there is a greater potential to make profit.

Economies of scale:   as companies grow larger they can cut costs by buying in bulk, and can afford to invest in technology or machinery that lowers the unit cost of each item they produce, cutting costs and increasing profits.

Diversification or spreading risk. As a business grows it can produce different products and it lowers its dependence on one product. For example, a car rental company may expand to also offer van and truck rental. This means if there is a downturn in the car rental market the business can can still rely on revenue from the truck market.

Market domination: as companies grow they gain greater market share and greater control of the market. For example, if a coffee shop in a small town has a number of outlets, it can have a large influence over setting prices for of a cup of coffee in that town.

contents of a business plan igcse

Different ways in which businesses can grow

For IGCSE two different examples of how a business can grow is sufficient.

External Growth is when a business expands by taking over or merging with another business. For example, Facebook took over photo-sharing platform social Instagram for $1 billion in 2012.

Internal Growth (or organic growth) is when a company expands by building another outlet or adding another service rather than taking over another business.   For example,  Ed’s Coffee expands by renting another shop, redecorating, employing staff and starts operating.

External growth is quicker than internal growth,  but riskier and requires higher capital investment. It’s more expensive to buy an existing business than expand your own operations from scratch, but much quicker, as the business is already running and has a customer base and suppliers.

Problems linked to business growth and how these might be overcome

As growth is a major change in how a business operates, the disruption brings challenges which must be overcome.

We’ll look at two examples of problems linked to growth and how they could be solved.

     

Communication : as a business grows, more people are employed in more locations. It becomes increasingly difficult to ensure everyone is getting clear messages, and for management to know what is going on in every part of the business.

To overcome this, businesses can set up clear communication channels with the assistance of modern technology (email and instant messaging) to keep all staff updated. We’ll look at this further in Unit 2.4.

Finance : expansion involves a high capital cost which puts pressure on a company’s finances and cash flow.

The solution can be to expand more slowly,  and ensure that there are suitable long term sources of finance available.

Some businesses decide to stay small, but for others expansion is never an option because of a lack of capital. In this section we find out the different reasons why some businesses stay small.

Owner’s objectives : some business owners start their own business as they want to have control over their lives. If a business expands it will involve more responsibility, stress, risk and a higher workload. So the business stays small to allow the owners greater work-life balance.

Access to capital : some business owners can’t expand due as they have no access to capital. This may be because they can’t get a bank loan or find an investor to finance business growth. This is particularly the case in the developing world, where there are millions of small business owners who can’t expand because of high-interest rates, or they lack the assets required as collateral for a bank loan.

Contact with customers: for many small business owners what makes them successful and what motivates them is the close relationship with customers.  For example, a yoga teacher may expand her business by employing other teachers and operating more classes. However, this would mean she would spend less time giving a personalised service to her loyal customers, and more time in the office controlling and organising.

  (a) Explain two possible reasons why Roscoe wants the business to remain small. [8]  

1.3.4 Why Some Business Fail

The business world is tough, and for all the business success we hear about, there are also many failures. The failure rate (where businesses go bankrupt or stop trading) is about 50% within five years in the USA. So there is only a 1 in 2 chance of any business making it to their 5th birthday.

Why does this happen?

Lack of management skills . Business managers have to be experts in finance, marketing, operations and all aspects of the business. It is very difficult to master every part of business and mistakes or bad choices can lead to failure.

Startups are particularly vulnerable, as they are just starting out and lack the experience or expertise of competitors, and will inevitably make mistakes.

Changes in the business environment . Changes in the business environment can affect the whole economy like a recession, where the economy gets smaller.  Changes in the business environment may also just affect a small section of the economy. For example, online shopping has made it very difficult for ordinary “bricks and mortar” shops to compete. Many high street shops have closed down as they can’t compete on price and convenience with Amazon and Alibaba.

Lack of finance/liquidity . Startups often underestimate how much money they will need to survive, and it can be a real challenge to predict sales accurately. If revenue is lower than costs the business will ultimately fail. More established companies can base their sales forecasts on previous results.

All companies will fail if they don’t have enough money coming into the business to be able to pay their short term debts.

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contents of a business plan igcse

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Mind-maps: Business Studies – 0450

1. Understanding Business Activity

1.1 – Business Activity

1.2 – Classification of Businesses

1.3 – Enterprise, Business Growth and Size

1.4 – Types of Business Organizations

1.5 – Business Objectives and Stakeholder Objectives

2. People in Business

2.1 – Motivating Workers

2.2 – Organisation and Management

2.3 – Recruitment, Selection and Training of Workers

2.4 – Internal and External Communication

3. Marketing

3.1 – Marketing, Competition and the Customer

3.2 – Market Research

3.3 – Marketing Mix

3.4 – Marketing Strategy

4. Operations Management

4.1 – Production of Goods and Services

4.2 – Costs, Scale of Production and Break-even Analysis

4.3 – Achieving Quality Production

4.4 – Location Decisions

5. Financial Information and Decisions

5.1 – Business Finance: Needs and Sources

5.2 – Cash Flow Forecasting and Working Capital

5.3 – Income Statements

5.4 – Balance Sheets

5.5 – Analysis of Accounts

6. External Influences on Business Activity

6.1 – Government Economic Objectives and Policies

6.2 – Environmental and Ethical Issues

6.3 – Business and the International Economy

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15 thoughts on “ Mind-maps: Business Studies – 0450 ”

Thank you, for your patience with us. I hope university is going well for all of you and that you (and your loved ones) are safe during this pandemic.

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Thank you so much for your kind words!! They really do mean a lot xx We hope school is going okay and that you and your loved ones are staying safe, too! May you ace your exams and anything else that life has to throw at you, too ❤

Hey I am in IGCSE 2 which is 10th, I study at symbiosis international school which is in Pune Maharashtra. Me and my friends would be happy if you post short notes on maths(extended) too. We would really appreciate that

Regards, Ashish Bagmar

We would love to, however, we’re all still students here at the IGCSE AID team, and don’t currently have time to write notes for a new subject. If you really need math notes, may I suggest the website https://www.mathsisfun.com/ They’re an excellent resource for math revision, no matter the stage of your education that you are at. We apologise for the inconvenience!

when would upload the mind maps

The mind maps are available now. 🙂

yall never post

please upload the mind maps now i want

All the mind maps have been uploaded and is now available for viewing. 🙂

its been so long and youve not put up the mind maps

The mind maps are all uploaded now! Please do check them out 🙂

hey I am not able to surf the mind map of unit 4 i.e. OPERATION MANAGEMENT . business studies 0450

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hi! We actually haven’t uploaded the mind maps yet, that’s why it isn’t accessible. Sorry!

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IGCSE Business Studies: Syllabus, Pattern, Assessments Outline & Reference Textbook

Home » Blog Microsite » IGCSE Business Studies: Syllabus, Pattern, Assessments Outline & Reference Textbook

Table of Contents

  6669 Reads     Updated on: April 18, 2024

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contents of a business plan igcse

IGCSE Business Studies Syllabus Outline

  • Understanding business activity
  • People in business
  • Operations management
  • Financial information and financial decisions
  • External influences on business activity

IGCSE Business Studies Content Overview

  • Understanding business activity : The aim and nature of business activity, as well as how firms might be classed, are all covered in this section that introduces the fundamental notions and concepts of business. Other crucial concerns include enterprise, entrepreneurs, and the reasons why some businesses expand while others stay small. The last subjects include how business size can be measured, different business organisation kinds, business objectives, and stakeholder objectives.
  • Business and people: The functional area of human resources is the main focus, and it encompasses the significance of and strategies for motivating a workforce. It is also taken into account how firms are structured and run, as well as how personnel are hired, chosen, and trained. The importance and strategies for efficient internal and external communication are covered in the section’s final paragraph.
  • Marketing: This section discusses the function of marketing, the differences between niche and mass markets, and market segmentation strategies. Market research techniques and value are discussed. It is made plain what the four Ps, or the marketing mix, are responsible for most. The final subjects in this part are marketing tactics to sway consumer choices in domestic markets as well as new international markets.
  • Operations management: The functional area of production is the main focus, along with the definition, production processes, and ways to boost productivity. Break-even analysis and various production expenses are explored. The importance and strategies for obtaining quality in the production process and business site considerations are discussed in the section’s conclusion.
  • Financial data and decisions: This section on finance and accounting discusses working capital, cash flow forecasts, and the need for and sources of business financing. Simple income statements, financial position statements, and account analysis, including why and how accounts are used, are all covered.
  • External influences on business activity: The various external impacts on business activities are the emphasis of this section, along with their effects on a business. It also covers how the government affects economic, ethical, and environmental issues and how these affect the operational facets of organisations. The global economy, including globalisation and its implications on governments and enterprises, multinational corporations, and exchange rates are further significant problems. Legal restrictions are an external factor to take into account, although these factors are covered in relevant areas of functions.
Understanding business activity Business activity

Classification of businesses

Enterprise, business growth and size

Types of business organisation

Business objectives and stakeholder objectives

People in business Motivating employees

Organisation and management

Recruitment, selection and training of employees

Internal and external communication

Marketing Marketing, competition and the customer

Market research

The marketing mix: product

The marketing mix: price

The marketing mix: place

The marketing mix: promotion

Technology and the marketing mix

Marketing strategy

Operations management Production of goods and services

Costs, scale of production and break-even

analysis

Achieving quality production

Location decisions

Financial information and financial

Decisions

Business finance: needs and sources

Cash flow forecasting and working capital

Income statements

Statement of financial position

Analysis of accounts

External influences on business

Issues

Economic issues

Environmental and ethical issues

Business and the international economy

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IGCSE Business Studies Assessment Outline

Paper 1 short answer and data response.

Type of assessment: Written paper Duration: 1 hour 30 minutes Marks: 80

  • The exam consists of four questions with a mix of short answers and structured data responses.
  • The paper evaluates content from the entire curriculum.
  • The stimulus material introduces each question. Candidates will be required to refer to the stimulus material in their answers to some questions. Tables, graphs, and images are examples of stimulus material.
  • Candidates respond to all questions.
  • Candidates should be aware of the marks assigned to each part of the question.
  • These are printed on the answer sheet.
  • Candidates should use them as a guide to the level of detail and length of response that is expected, as well as to help them manage their time effectively.
  • On the question paper, candidates write their answers.

The paper evaluates the following assessment objectives:

AO1: Knowledge and understanding AO2: Application AO3: Analysis AO4: Evaluation

Paper 2 Case Study

  • The question paper consists of four questions based on a case study that is provided as an insert with the paper. The case study includes appendices with data presented in a variety of formats, including tables, graphs, newspaper extracts, and advertisements.
  • The paper evaluates material from the entire curriculum.
  • Candidates must respond to all questions.
  • Candidates need to be aware of the points allotted to each section of the question. These are printed on the question paper.
  • Candidates should use them as a guide to the level of detail and length of response expected, as well as to help them manage their time effectively.
  • The question paper is where the candidates write their answers.

IGCSE Business Studies Pattern of the Examination

Paper 1: questions centered around the command terms.

Each question consists of 5 sub-divisions Part A of the question focuses on definition for two marks.
Part B questions focus on calculation/definition/identifying /listing/outlining/stating any two features for two marks.
Part C question focuses on identifying and explaining two advantages and disadvantages for four marks.
Part D of the question focuses on evaluation questions with a business application for 6 marks.
Part E of the question focuses on evaluation questions that do not require context for 6 marks.

Paper 2: Questions Centered Around The Command Terms

Each question consists of 2 sub-divisions Part A of the question focuses on explaining four ways/advantages and/or disadvantages for eight marks, with or without reference to a business context depending on the question asked in the paper for 10 marks.
Part B question focuses on evaluation type of question with application in reference to business context for 15 marks.

IGCSE Business Studies Reference Textbook

Title Cambridge IGCSE and O Level 5th edition
Authors Karen BorringtonPeter Stimpson
Publisher Hodder Education, 2018
ISBN 1510420096, 9781510420090
Length 366 pages

IGCSE Business Studies Specimen Paper and Past Paper Reference Website

https://www.cambridgeinternational.org/programmes-and-qualifications/cambridge-igcse-business-studies-0450/past-papers/

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Is IGCSE business studies hard?

No, The IGCSE Business study is not so hard. But it is relatively easier in the IGCSE exam.

What is in IGCSE business studies?

The student is able to understand the business models and understanding of private and public sector activities, this is in IGCSE Business studies.

Which IGCSE board is Harder?

The Edexcel is the toughest board in IGCSE.

In IGCSE Business studies, how to answer 8 marks questions?

First, use the correct structure, then reread the case study, third choose your knowledge point, fourth add the application, fifth use add analysis, and then a conclusion for completing the chain of analysis. This is how one can give answers to 8 marks questions in IGCSE Business studies.

Is IGCSE Business studies a good career choice?

Yes, in today’s world business, we have a 99.9% market share in the world. Thus, any aspirant working in this field will be offered a decent salary structure. So with this conclusion, yes IGCSE business studies is a good career choice.

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Pearson Edexcel IGCSE Business  Lesson 31 Ratio Analysis

Pearson Edexcel IGCSE Business Lesson 31 Ratio Analysis

Subject: Business and finance

Age range: 14-16

Resource type: Lesson (complete)

AS, A Level, IGCSE Business and Accounting Resources

Last updated

27 September 2024

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Pearson Edexcel IGCSE Business

Lesson 31 Ratio Analysis

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Sam Altman tells OpenAI staff there's no plan for him to receive a 'giant equity stake' in company

Sam Altman.

At an all-hands meeting Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a “giant equity stake” in the company, calling that information “just not true,” according to a person who was in attendance.

Altman and finance chief Sarah Friar both said at the meeting, conducted by video, that investors have raised concerns about Altman not having equity in the high-valued artificial intelligence company that he co-founded almost nine years ago, said the person, who asked not to be named because the gathering was only for employees.

Regarding his potentially attaining an equity stake, Altman said, “There are no current plans here,” the person said.

OpenAI Chairman Bret Taylor told CNBC in a statement that while the board has talked about the matter, no specific figures are on the table.

“The board has had discussions about whether it would be beneficial to the company and our mission to have Sam be compensated with equity, but no specific figures have been discussed nor have any decisions been made,” Taylor said.

The meeting late Thursday followed the board’s decision to consider restructuring the company to a  for-profit business , according to a separate person with knowledge of the matter. Should the change occur, the nonprofit segment would remain as a separate entity, said the person, who asked not to be named because no plan has been finalized.

While directors consider OpenAI’s future, key executives continue to walk out the door.

On Wednesday, three execs announced their departures. OpenAI Chief Technology Officer Mira Murati, who briefly served as interim CEO, said she would be leaving after 6½ years. Later in the day, research chief Bob McGrew and Barret Zoph, a research vice president, said they were leaving the company.

In an interview Thursday at Italian Tech Week, Altman said, “I think this will be hopefully a great transition for everyone involved and I hope OpenAI will be stronger for it, as we are for all of our transitions.”

Altman said the departures were not related to the company’s potential restructuring, contrary to some media reports.

“Most of the stuff I saw was also just totally wrong,” Altman said at the event in Turin, Italy. “But we have been thinking about that, our board has, for almost a year independently, as we think about what it takes to get to our next stage. But I think this is just about people being ready for new chapters of their lives and a new generation of leadership.”

Murati  wrote  in a memo to the company that she’s “stepping away because I want to create the time and space to do my own exploration.” She said her focus will be on ensuring a “smooth transition.”

Before Thursday’s moves, OpenAI co-founder Ilya Sutskever and former safety leader Jan Leike  announced their departures  in May. Co-founder John Schulman said last month that he was leaving to join rival Anthropic.

OpenAI, which is backed by  Microsoft , is currently pursuing a funding round that would value the company at more than $150 billion, people familiar with the matter told CNBC. Thrive Capital is  leading the round  and plans to invest $1 billion, and  Tiger Global  is planning to join as well.

While OpenAI has been in hypergrowth mode since the launch of ChatGPT in late 2022, it’s been simultaneously  riddled with controversy  and  executive departures , with some current and former employees concerned that the company is growing too quickly to operate safely.

Altman was ousted in November, before being quickly reinstated. Almost all of OpenAI’s employees signed an open letter saying they would leave in response to the board’s action. Days later, Altman was back at the company and Murati moved from  interim CEO back to the role  of CTO.

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GCSE Business 8132

GCSE Business Specification Specification for first teaching in 2017

PDF | 1.12 MB

3.0 Subject content

Students apply their knowledge and understanding to different business contexts ranging from small enterprises to large multinationals and businesses operating in local, national and global contexts. Students develop an understanding of how these contexts impact on business behaviour.

  • the interdependent nature of business activity, influences on business, business operations, finance, marketing and human resources, and how these interdependencies underpin business decision making
  • how different business contexts affect business decisions
  • the use and limitation of quantitative and qualitative data in making business decisions.
  • use business terminology to identify and explain business activity
  • apply business concepts to familiar and unfamiliar contexts
  • develop problem solving and decision making skills relevant to business
  • investigate, analyse and evaluate business opportunities and issues
  • make justified decisions using both qualitative and quantitative data including its selection, interpretation, analysis and evaluation, and the application of appropriate quantitative skills.
  • • 3.1 Business in the real world
  • • 3.2 Influences on business
  • • 3.3 Business operations
  • • 3.4 Human resources
  • • 3.5 Marketing
  • • 3.6 Finance

Kamala Harris’ economic plan bows to realities

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Cambridge igcse business studies (0450).

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Description

This book provides support for Business & Economics teachers as well as those studying professional development qualifications. As part of a series of practical, subject specific-guides, it is designed for teachers working with international programmes and qualifications. The guides contain practical ideas for classroom activities, including active learning, assessment for learning and reflective practice. They give examples, based on experience and observations of what works well, to help teachers put theory into practice. Each guide is accompanied by a variety of online tools for lesson planning.

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Publisher Cambridge University Press
Author Gillespie, A
ISBN 9781316645949
Published Date 2017
Website

Cambridge IGCSE and O Level Business Studies: Coursebook

Description

This coursebook provides comprehensive support for the Cambridge IGCSE®, IGCSE (9-1) and O Level Business Studies syllabuses (0450/0986/7115). This coursebook contains exam-style case studies and stimulus material from businesses around the world for real world application of Business Studies theory

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Publisher Cambridge University Press
Author Fisher, M, Houghton, M and Jain, V
ISBN 9781108563987
Published Date 2018
Website

Cambridge IGCSE and O Level Business Studies: Student Book

Description  

This coursebook provides support for the Cambridge IGCSE, IGCSE (9-1) and O Level Business Studies syllabuses (0450/0986/7115). It encourages understanding with engaging real-world case studies, checks progress with revision checklists and consolidates learning with chapter reviews and exam-style questions.

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Publisher Hodder Education
Author Borrington, K and Stimpson, P
ISBN 9781510421233
Published Date 2018
Website

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  1. Business Plans & Government Support

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    GCSE Business Specification Specification for first teaching in 2017. 19 Aug 2016. PDF | 1.12 MB. 3.5 Marketing. Students should understand the interdependent nature of business operations, human resources, marketing and finance. Students should be able to give examples of how business objectives would be split into functional plans with clear ...

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    Paper 2: Influences of marketing and finance on business activity; What's assessed. Business in the real world; Influences on business; Marketing; Finance; How it's assessed. Written exam: 1 hour 45 minutes; 90 marks; 50% of GCSE; Questions. Section A has multiple choice questions and short answer questions worth 2 0 marks.

  23. Sam Altman tells OpenAI staff there's no plan for him to receive a

    At an all-hands meeting Thursday, OpenAI CEO Sam Altman denied that there are plans for him to receive a "giant equity stake" in the company, calling that information "just not true ...

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    3.0 Subject content. 3.1 Business in the real world. 3.2 Influences on business. 3.3 Business operations. 3.4 Human resources. 3.5 Marketing. 3.6 Finance. 4.0 Scheme of assessment. 5.0 General administration. Appendix: quantitative skills in business. GCSE Business Specification Specification for first teaching in 2017. 19 Aug 2016. PDF | 1.12 MB.

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  28. Cambridge IGCSE Business Studies (0450)

    This coursebook provides support for the Cambridge IGCSE, IGCSE (9-1) and O Level Business Studies syllabuses (0450/0986/7115). It encourages understanding with engaging real-world case studies, checks progress with revision checklists and consolidates learning with chapter reviews and exam-style questions. > Publisher website.