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Business

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Measurements of success

  • Number of students opting for GCSE Business has doubled over the last four years
  • Students are well engaged in lessons
  • A very large number carry on studying this subject and/or Economics at A-level
  • The results are very good – progress measures are used for all subjects and schools to compare what students actually achieve with what they would be expected to achieve given their previous academic results before entering the school.

Specification at a glance

Key topics to be taught in year 10 

Specification reference Teaching hours
3.1 Business in the real world (3.1.1-3.1.7) 25 hours
3.2 Influences on business (3.2.1-3.2.6) 20 hours
3.4 Human resources (3.4.1-3.4.4) 15 hours
3.3 Operations management (3.3.1-3.3.4) 20 hours

Hierarchy of Command Words

Exam skills – translating examiner advice

Nine markers can be found in section B and C and require evaluation. There are two styles of questioning both requiring two relevant well developed points before a layered conclusion (DMISCO). NB Increasingly the examiner is expecting you to make relevant use of the data provided (making a relevant calculation e.g. combining figures to calculate profits will be expected to support analysis and final judgements).

Recommend whether the business should opt for greater training or not. Use the context to explain in the first paragraph why it would benefit the company, second paragraph considering the drawback of offering training. Third paragraph (DMISCO)

Choosing between two options: Fully explain in context the benefit of one, next paragraph to fully explain the benefit of the other option and then finally (DMISCO)

Influences on business

The importance of external influences on business and how businesses change in response to these influences.

Technology – modern developments – e-commerce, digital communication

Ethics – sustainability, global warming, use of scarce resources

Economic climate – interest rates, employment levels, income and consumer spending, effects of fluctuations

Globalisation – how UK businesses compete internationally, exchange rates

Legislation – Health and Safety at Work Act (1974)

Competitive environment – impact on businesses

Business in the real world

The purpose of business activity, the role of business enterprise and entrepreneurship, and the dynamic nature of business.

Introductory – factors of production, opportunity cost, sectors of industry, entrepreneurs, dynamic nature of business

Aims & objectives – shareholder value, measurement of success other than profit

Stakeholders – who they are, their objectives, impact and influence

Planning – introduced to financial terms and calculations

Expansion – economies and diseconomies of scale (purchasing and technological), calculation/interpretation of unit costs

Business operations

Procurement – managing stock, choosing suppliers, efficiency, cost effectiveness

Customer service – benefits of good, problems of poor, social media

Human resources

Organisational structures – delegation, delayering

Recruitment and selection – job sharing, zero hour contracts

Training – benefits to business

Where Next