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.
TOPICS
UNITS TO BE COVERED:
SECTION 1-Understanding business activity
1. Business activity
2. Classification of businesses
3. Enterprise, business growth and size
4. Types of business organisation
5. Business objectives and stakeholder objectives
SECTION 2- People in business
6. Motivating employees
7. Organisation and management
8. Recruitment, selection and training of employees
9. Internal and external communication
SECTION 3- Marketing
10. Marketing, competition and the customer
11. Market research
12. The marketing mix: product
13. The marketing mix: price
14. The marketing mix: place
15. The marketing mix: promotion
16. Technology and the marketing mix
17. Marketing strategy
SECTION 4- Operations management
18. Production of goods and services
19. Costs, scale of production and break-even
analysis
20. Achieving quality production
21. Location decisions
SECTION 5-Financial information and financial
Decisions
22. Business finance: needs and sources
23. Cash flow forecasting and working capital
24. Income statements
25. Statement of financial position
26. Analysis of accounts
SECTION 6-External influences on business
Issues
27. Economic issues
28. Environmental and ethical issues
29. Business and the international economy
Are You Planning to Prepare for IGCSE Business Studies?
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
Type of assessment: Written paper Duration: 1 hour 30 minutes Marks: 80
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.
The paper evaluates the following assessment objectives:
AO1: Knowledge and understanding AO2: Application AO3: Analysis AO4: Evaluation
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.
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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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