WHAT IS GCSE BUSINESS
The course follows the EDEXCEL IGCSE Business specification, and on completion there is a two hour paper at the end of the academic year. The examination is skills based so it covers Business topics, but also teaches students how to analyse, evaluate and apply their business knowledge to different business scenarios. The topics cover the five functional areas: human resources, accounting and finance, marketing and production and considers business activity and the changing external environment.
The topics covered are:
- Business activity and the changing environment – this considers different types of businesses, the main objectives that a business may pursue and how operating in the external environment means that the businesses have to adapt to the external environment so that they can continue to achieve those objectives. The methods of judging business success is also considered in this unit.
- Human resources – this unit focuses on the roles, responsibilities of workers and the different methods of recruiting and selecting workers. Training and motivational theories are considered and how to increase labour productivity.
- Accounting and Finance – this unit considers businesses financial information such as budgets, cash flow, income statements, balance sheets and ratio analysis and use of this information in decision making
- Marketing – the marketing unit considers how a business can understand consumer needs by undergoing market research and satisfy needs by using an integrated marketing mix
- Production – Considers the organisation and management of resources to achieve greater productivity and lower costs