Business Studies

Qualification: IGCSE

Exam Board: Cambridge Code: 0450

Cambridge IGCSE Business Studies (0450) Syllabus Οverview

What will I learn?

The IGCSE Business Studies syllabus develops students' understanding of business activity in the public and private sectors, and the importance of innovation and change. Students learn how the major types of business organisation are established, financed and run, and how their activities are regulated. Factors influencing business decision-making are also considered, as are the essential values of cooperation and interdependence. Through their studies, students not only learn about business concepts and techniques but also enhance related skills such as numeracy and enquiry. The syllabus provides both a foundation for further study at A Level, and an ideal preparation for the world of work.

Curriculum content

1. Understanding business activity

This section introduces the underlying ideas and concepts of business and includes the purpose and nature of business activity and how businesses can be classified. Enterprise and entrepreneurs, and why some businesses grow while others remain small are further important issues. How business size can be measured, types of business organisation, business objectives and stakeholder objectives are the concluding topics.

2. People in business

The focus is the functional area of human resources and includes the importance and methods of motivating a workforce. How businesses are organized and managed and the methods of BUSINESS STUDIES recruitment, selection and training of employees are also considered. Finally, the section covers the importance and methods of effective internal and external communication.

 3. Marketing

This section includes the role of marketing, the distinctions between niche and mass markets and the techniques of market segmentation. The methods and importance of market research are covered. The central role of the marketing mix, i.e. the four Ps, is made clear. Marketing  strategies to influence consumer decisions at home and in new foreign markets are the final  topics in this section.

4. Operations management

The focus is the functional area of production and includes the meaning and methods of production and how productivity can be increased. The different costs of production and breakeven analysis are covered. The section concludes with the importance and methods of achieving quality in the production process and location decisions of businesses.

5. Financial information and decisions

This finance and accounting section covers the need for and sources of business finance, cashflow forecasting and working capital. Simple income statements are covered as well as statements of financial position and the analysis of accounts including why and how accounts are used.

6. External influences on business activity

This section focuses on different external influences on business activity and how these impact on a business. It includes government influences on economic, environmental and ethical issues and how they impact on the functional areas of businesses. In addition, the international economy including globalisation and its effects on businesses and governments, multinational businesses and exchange rates are important issues. Legal constraints are an external influence to be considered but these influences are covered in the relevant functional areas above, as well as in this last section.

EDEXCEL XBS11/YBS11 

Covering business in a global context, the Edexcel International Advanced Level in Business Studies is designed to be studied over two years, with the option of a one-year AS level course.

Curriculum Content

The course has been designed so that you:

• Will investigate different types and sizes of organisation in various business sectors and environments, and in local, national and global contexts.
• Are introduced to the market, explore the marketing and people functions and investigate entrepreneurs and business start-up.
• Explore the finance and operations functions, and investigate external influences on business.
• Investigate different types and sizes of organisation in various business sectors and environments, and in local, national and global contexts.
• Explore influences on business strategy and decision making.
• Explore business activity in a global context. 

How is the course assessed?

At the end of Year 12 you will sit two written papers, each 2 hours long for the IAS in Business Studies.  

At the end of Year 13 you will sit a further two written papers, each 2 hours long for the IAL in Business Studies. 

What are the GCSE requirements for this course? 

An IGCSE qualification in Business Studies is not a prerequisite for study of the subject at Advanced Level, but it is highly recommended since it builds on the knowledge and skills developed from the IGCSE Business Studies course.

Students are expected to have taken IGCSE Business Studies or Economics prior to the course and achieved minimum of B. Students with no prior knowledge in these subjects should have achieved a B or above in IGCSE English as this exam requires a good grasp of the English language to be able to answer extended data response questions. 

Future Career Choices

This course will prepare you for:

• Higher education courses such as business management, business administration, accountancy and finance, human resource management, marketing, retail management, tourism management, international business.
• A wide range of careers, ranging from banking, sales, product management and general management to working in public sector organisations and charities.

Exam Board: Pearson Edexcel Code: XBS11

Unit 1 code: WBS11

Unit 2 code: WBS12

International Advanced Levels Business (2018) Website

What topics does the course cover?

Unit 1: Marketing and People

• Meeting customer needs.
• The market.
• Marketing mix and strategy.
• Managing people.
• Entrepreneurs and leaders.

In Unit 1, students are introduced to the market, explore the marketing and people functions and investigate entrepreneurs and business start-up. This unit enables students to understand how businesses identify opportunities and to explore how businesses focus on developing a competitive advantage through interacting with customers. Students develop an understanding of how businesses need to adapt their marketing to operate in a dynamic business environment. It also considers people, exploring how businesses recruit, train, organise and motivate employees, as well as the role of enterprising individuals and leaders. Students will investigate different types and sizes of organisation in various business sectors and environments, and in local, national and global contexts. Students will need to acquire competence in quantitative skills that are relevant to this unit.

Unit 2: Managing business activities:

• Planning a business and raising finance
• Financial planning
• Managing finance
• Resource management
• External influences

In this unit, students explore the finance and operations functions, and investigate external influences on business. This unit enables students to develop an understanding of raising and managing finance and measuring business performance. It outlines the importance of using resources efficiently within a business to ensure that goods or services can be delivered effectively and efficiently, and to a high quality. Students also consider the external influences that have an impact on businesses, including economic and legal factors.

Students also investigate different types and sizes of organisation in various business sectors and environments, and in local, national and global contexts. Students will need to have acquired competence in quantitative skills relevant to this unit.

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IAS BUSINESS

International Advanced Subsidiary in Business

For this unit, students will also need to be able to apply certain accounting ratios which will not be supplied in the examination.

What skills will be taught?

• Develop an understanding of business concepts and apply these concepts to real-life situations.
• Interpret and evaluate business information reading and using a variety of sources.
• Numeracy, communication and an understanding of research methodology and interpretation, helping ease transition on to further study.
• Write extended responses.
• Respond appropriately to a range of question types, including multiple-choice, short-answer, data response and open-ended questions.

Exam Board: Pearson Edexcel Code: YBS11 Unit 3 Code: WBS13

Unit 4 Code: WBS14

What topics does the course cover?

Unit 3: Business decisions and Strategy

• Business objectives and strategy.
• Business growth.
• Decision-making techniques.
• Influences on business decisions.
• Assessing competitiveness.
• Managing change.

In this unit, students develop their understanding of the concepts introduced in Units 1 and 2 and explore influences on business strategy and decision-making.

This unit moves from functions to strategy, enabling students to develop their understanding of the core concepts and to take a strategic view of business opportunities and issues. Students analyse corporate objectives and strategy against financial and non-financial performance measures and how businesses grow and develop an understanding of the impact of external influences. The unit also covers the causes and effects of change and how businesses mitigate risk and uncertainty.

Students will investigate different types and sizes of organisation in various business sectors and environments, and in local, national and global contexts. Students will need to acquire competence in quantitative skills that are relevant to this unit.

For this unit, students will also need to be able to apply specific accounting ratios which will not be supplied in the examination.

Unit 4: Global Business

• Globalisation
• Global markets and business expansion
• Global marketing
• Global industries and companies (multinational corporations)

In this unit, students develop their understanding of the concepts introduced in Units 1, 2 and 3, and explore business activity in a global context.

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A2-International Advanced Level Business Studies

Students investigate businesses that trade on a global scale and explore their reasons for doing so. Students develop an understanding of the globally competitive environment and consider the ethical and moral dimensions of global business activities. In this unit, it is important to note that the impacts of globalisation and global markets covered will need to be understood in relation to businesses. Students will investigate different types and sizes of organisation in various business sectors and environments.

Students will need to acquire competence in quantitative skills relevant to this unit.

What skills will be taught?

• Cognitive skills: acquire a range of relevant business and generic skills, including decision-making, problem-solving, the challenging of assumptions and critical analysis.
• Quantitative skills-apply numerical skills in a range of business contexts.
• Interpersonal skills: teamwork and collaboration, leadership.
• Intrapersonal skills such as self-evaluation, taking initiatives individually such as investigating  companies and generating relevant solutions to business problems and issues.