Business

GCSE Business is a course that will provide students with many transferable skills into both other subjects and the real world.

In Business, you will study a range of topics such as Enterprise and Entrepreneurship, Spotting Business Opportunities, How Businesses can put their ideas into practice, Finance and Building a Business. You will analyse a variety of case studies and business models to learn the skills that help businesses operate effectively. Within this course, students are required to exercise their essay writing ability and numerical skills to identify and analyse business innovation and enterprise.

What is the exam board and specification?

Examination Board: Edexcel

Specification: GCSE (9-1) Business

https://qualifications.pearson.com/content/dam/pdf/GCSE/Business/2017/specification-and-sample-assessments/gcse-business-spec-2017.pdf

What will you study?

Theme 1 comprises five topic areas.

● Topic 1.1 Enterprise and entrepreneurship

Students are introduced to the dynamic nature of business in relation to how and why business ideas come about. They also explore the impact of risk and reward on business activity and the role of entrepreneurship.

● Topic 1.2 Spotting a business opportunity

Students will explore how new and small businesses identify opportunities through understanding customer needs and conducting market research. They will also focus on understanding the competition.

● Topic 1.3 Putting a business idea into practice

This topic focuses on making a business idea happen through identifying aims and objectives and concentrating on the financial aspects.

● Topic 1.4 Making the business effective

Students will explore a range of factors that impact on the success of the business, including location, the marketing mix and the business plan.

● Topic 1.5 Understanding external influences on business

Students are introduced to a range of factors, many of which are outside of the immediate control of the business, such as stakeholders, technology, legislation and the economy. Students will explore how businesses respond to these influences.

Theme 2 comprises five topic areas.

● Topic 2.1 Growing the business

Students are introduced to methods of growth and how and why business aims and objectives change as businesses evolve. The impact of globalisation and the ethical and environmental questions facing businesses are explored.

● Topic 2.2 Making marketing decisions

Students will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace.

● Topic 2.3 Making operational decisions

this topic focuses on meeting customer needs through the design, supply, quality and sales decisions a business makes.

● Topic 2.4 Making financial decisions

Students will explore the tools a business has to support financial decision making, including ratio analysis and the use and limitation of a range of financial information.

● Topic 2.5 Making human resource decisions

Growing a business means that decisions relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These aspects are considered in this final topic.

How will you be assessed?

There are two written exams at the end of Year 11 and NO coursework.

Paper 1 – Theme 1: Investigating Small Businesses

The paper will consist of calculations, multiple-choice, short-answer and extended-writing questions.

Questions in Sections B and C will be based on business contexts given in the paper.

The paper is divided into three sections.

Section A: 35 marks
Section B: 30 marks
Section C: 25 marks.

Calculators may be used in the examination.

Paper 2 – Theme 2: Building a Business

The paper will consist of calculations, multiple-choice, short-answer and extended-writing questions.

Questions in Sections B and C will be based on business contexts given in the paper.

The paper is divided into three sections.

Section A: 35 marks
Section B: 30 marks
Section C: 25 marks.

Calculators may be used in the examination.

Both exams are 1 hour 45 minutes (105 minutes) long.

Marks are awarded for three areas:
Demonstrating knowledge and understanding of business concepts and issues; Applying knowledge and understanding of business concepts and issues to a variety of contexts; Analysis and evaluation of business information and issues to demonstrate an understanding of business activity, make judgements and draw conclusions.

What qualities do I need to be successful in the subject?

Hard work, enthusiasm and an interest in current business news and a willingness to consider and discuss business issues.

Students will need to develop their skills of analysis and evaluation and apply their business knowledge and understanding to a range of different business case studies. They will also need to analyse financial and business data and make judgements on the best action or decision for the business.

What future opportunities can I have with this subject?

Students could go onto to study Business A Level, Business BTec and a wide variety of University Business degrees. The ability to analyse and evaluate quantitative and qualitative information is an excellent skill set for a wide variety of professions, including marketing, sales, finance and accounting, human resources and operational logistics as well as for future entrepreneurs.