GCSE (9-1) Business - Online Learning College
GCSE (9-1)BusinessThis draft qualification has not yet been accredited by Ofqual. It is published to enable teachers to have early sight of ourproposed approach to Pearson Edexcel Level 1/Level 2 GCSE (9 - 1) in Music (1MU0). Further changes may be requiredand no assurance can be given at this time that the proposed qualification will be made available in its current form, orthat it will be accredited in time for first teaching in September 2016 and first award in 2018.SpecificationPearson Edexcel Level 1/Level 2 GCSE (9 - 1) in Business (1BS0)First teaching from September 2017First certification from 2019Issue 1
Contents1Introduction2Why choose Edexcel GCSE Business?2Supporting you in planning and implementing this qualification3Qualification at a glance426Subject content and assessment informationTheme 1: Investigating small business7Theme 2: Building a business14Assessment Objectives22323Administration and general informationEntries23Access arrangements, reasonable adjustments, special consideration and malpractice23Student recruitment and progression25Appendix 1: Command word taxonomy and definitions of businessterms29Appendix 2: Quantitative skills31Appendix 3: Formulae32Appendix 4: Calculators33Appendix 5: The context for the development of this qualification34Appendix 6: Transferable skills36Appendix 7: Codes37
1 IntroductionWhy choose Edexcel GCSE Business?We’ve listened to feedback from all parts of the business subject community, includingteachers, subject associations, professional bodies and higher education. We’ve used thisopportunity of curriculum change to redesign a qualification that is engaging and inspiring,and which reflects the demands of a truly modern and evolving business environment – aqualification that enables your students to develop as commercially minded and enterprisingindividuals and helps them to succeed in their chosen pathway.Developing enterprising mindsFamiliar course content and approach – we’ve retained the structure of our currentspecification while building in new content areas to give you as much continuity as possible,starting the course with an exploration of how and why businesses start, moving through tothe issues and decisions businesses make as they grow.Clear and simple structure – based on your feedback we’ve taken the opportunity to makesome improvements to the clarity and structure of our new specification and exam papers tomake sure you are clear about the new teaching and assessment requirements from yourfirst glance.Engaging and contemporary contexts – our engaging themes will spark your students’imagination and inspire commercial thinking as they develop their business knowledge. Weknow you use contemporary business contexts in your teaching and our new specification willenable you to continue to bring practical and engaging case studies into the classroom. Wealso know that real and relevant business examples engage your students so you’ll continueto see these in our assessments.Clear and accessible assessment for all – our new papers will build confidence throughramped questions which increasingly challenge students as they move through the paper.Our consistent assessment structure and straight forward mark schemes make theexpectations clear to teachers and students.Trusted expert support when you need it – we’ll provide detailed content andassessment guidance as well as course planners, case studies and guides for how to includeinvestigative tasks within the teaching and learning, to help you implement the newspecification with confidence. Our Subject Advisor Colin Leith is available to answer yourquestions and provide guidance and support.2Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 2016
Supporting you in planning and implementing thisqualificationPlanning Our Getting Started Guide gives you a comprehensive overview of the new GCSEqualification to help you to get to grips with the changes to content and assessment, andto help you understand what these changes mean for you and your students. We will give you editable course planners and a scheme of work that you can adapt tosuit your department. Our mapping documents highlight key differences between the new and legacyspecifications.Teaching and learningThere will be lots of free teaching and learning support to help you deliver the newqualification, including: case studies and activities a guide to using practical examples and business investigations additional support and guidance for the new content areas.Preparing for examsWe will provide a range of resources to help you prepare your students for the assessments,including: specimen papers to support formative assessments and mock exams marked exemplars of student work with examiner commentaries.ResultsPlusResultsPlus provides the most detailed analysis available of your students’ examperformance. It can help you identify the topics and skills where further learning wouldbenefit your students.examWizardexamWizard is a free online resource for teachers containing a huge bank of past paperquestions and support materials to help you create your own mock exams and tests.Get help and supportOur subject advisor service, led by Colin Leith, will ensure you receive help and guidancefrom us. You can sign up to receive e-newsletters from Colin to keep up to date withqualification updates and product and service news.UK: 020 7010 2182Intl: 44 (0)20 7010 2182TeachingBusiness@pearson.comLearn more at qualifications.pearson.comPearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 20163
Qualification at a glanceContent and assessment overviewThe Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business consists of twoexternally-examined papers.Students must complete all assessment in May/June in any single year.Theme 1: Investigating small business (*Paper code: 1BS0/01)Written examination: 1 hour and 30 minutes50% of the qualification90 marksContent overview Topic 1.1 Enterprise and entrepreneurship Topic 1.2 Spotting a business opportunity Topic 1.3 Putting a business idea into practice Topic 1.4 Making the business effective Topic 1.5 Understanding external influences on businessAssessment overviewThe paper is divided into three sections:Section A: 35 marksSection B: 30 marksSection C: 25 marks.The paper will consist of calculations, multiple-choice, short-answer and extended-writingquestions.Questions in Sections B and C will be based on business contexts given in the paper.Calculators may be used in the examination. Information on the use of calculators during theexaminations for this qualification can be found in Appendix 4: Calculators.*See Appendix 7: Codes for a description of this code and all other codes relevant to thisqualification.4Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 2016
Theme 2: Building a business (Paper code: 1BS0/02)Written examination: 1 hour and 30 minutes50% of the qualification90 marksContent overview Topic 2.1 Growing the business Topic 2.2 Making marketing decisions Topic 2.3 Making operational decisions Topic 2.4 Making financial decisions Topic 2.5 Making human resource decisionsAssessment overviewThe paper is divided into three sections:Section A: 35 marksSection B: 30 marksSection C: 25 marks.The paper will consist of calculations, multiple-choice, short-answer and extended-writingquestions.Questions in Sections B and C will be based on business contexts given in the paper.Calculators may be used in the examination. Information on the use of calculators during theexaminations for this qualification can be found in Appendix 4: Calculators.Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 20165
2 Subject content and assessmentinformationQualification aims and objectivesThe aims and objectives of this qualification are to enable students to: know and understand business concepts, business terminology, business objectives, theintegrated nature of business activity and the impact of business on individuals and widersociety apply knowledge and understanding to contemporary business issues and to differenttypes and sizes of businesses in local, national and global contexts develop as enterprising individuals with the ability to think commercially and creatively todemonstrate business acumen, and draw on evidence to make informed businessdecisions and solve business problems develop as effective and independent students, and as critical and reflective thinkers withenquiring minds use an enquiring, critical approach to make informed judgements investigate and analyse real business opportunities and issues to construct well-argued,well-evidenced, balanced and structured arguments, demonstrating their depth andbreadth of understanding of business develop and apply quantitative skills relevant to business, including using and interpretingdata.Business contextsThrough studying this qualification students will: apply knowledge and understanding to different business contexts. These includebusinesses ranging from small enterprises to large multinationals and businessesoperating in local, national and global contexts develop an understanding of how these contexts impact on business behaviour use business terminology to identify and explain business activity apply business concepts to familiar and unfamiliar contexts.Business decision makingThrough studying this qualification students will: apply knowledge and understanding to business decision making, including:o the interdependent nature of business activity, influences on business, businessoperations, finance, marketing and human resources; and how these interdependenciesunderpin business decision makingo how different business contexts affect business decisionso the use and limitation of quantitative and qualitative data in making business decisions develop problem-solving and decision-making skills relevant to business investigate, analyse and evaluate business opportunities and issues make justified decisions using both qualitative and quantitative data, including itsselection, interpretation, analysis and evaluation, and the application of appropriatequantitative skills.6Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 2016
Theme 1: Investigating small businessOverviewTheme 1 concentrates on the key business concepts, issues and skills involved in startingand running a small business. It provides a framework for students to explore core conceptsthrough the lens of an entrepreneur setting up a business.In this theme, students will be introduced to local and national business contexts and willdevelop an understanding of how these contexts impact business behaviour and decisions.Local contexts refer specifically to small businesses or those operating in a single UK locationand national contexts relate to businesses operating in more than one location or across theUK.Students must develop an understanding of the interdependent nature of business activitythrough interactions between business operations, finance, marketing and human resources,as well as the relationship between the business and the environment in which it operates.Students must understand how these interdependencies and relationships underpin businessdecisions. Teaching approaches to the content must reflect this.ContentTheme 1 comprises five topic areas. Topic 1.1 Enterprise and entrepreneurship – students are introduced to the dynamicnature of business in relation to how and why business ideas come about. They alsoexplore the impact of risk and reward on business activity and the role ofentrepreneurship. Topic 1.2 Spotting a business opportunity – students will explore how new and smallbusinesses identify opportunities through understanding customer needs and conductingmarket research. They will also focus on understanding the competition. Topic 1.3 Putting a business idea into practice – this topic focuses on making a businessidea happen through identifying aims and objectives and concentrating on the financialaspects. Topic 1.4 Making the business effective – students will explore a range of factors thatimpact on the success of the business, including location, the marketing mix and thebusiness plan. Topic 1.5 Understanding external influences on business – students are introduced to arange of factors, many of which are outside of the immediate control of the business, suchas stakeholders, technology, legislation and the economy. Students will explore howbusinesses respond to these influences.Quantitative SkillsStudents must draw on their knowledge and understanding of Theme 1 topics to apply arange of quantitative skills relevant to business contexts. This includes calculations and theinterpretation, use and limitation of quantitative and qualitative data in business contexts tosupport, inform and justify business decisions. These will be embedded within theexaminations for this qualification. Please see Appendix 2: Quantitative Skills for full detailsof quantitative skills and examples of their application within this qualification. Formulae foruse in this qualification can be found in Appendix 3: Formulae. Formulae will not be providedin the examinations. Information on the use of calculators during the examinations for thisqualification can be found in Appendix 4: Calculators.Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 20167
Topic 1.1 Enterprise and entrepreneurshipSubject contentWhat students need to learn:1.1.1The dynamic nature ofbusinessWhy new business ideas come about: changes in technology changes in what consumers want products and services becoming obsolete.How new business ideas come about: original ideas adapting existing products/services/ideas.1.1.2Risk and rewardThe impact of risk and reward on business activity: risk: business failure, financial loss, lack of security reward: business success, profit, independence.1.1.3The role of businessenterpriseThe role of business enterprise and the purpose of businessactivity: to produce goods or services to meet customer needs to add value: convenience, branding, quality, design,unique selling points.The role of entrepreneurship: an entrepreneur: organises resources, makes businessdecisions, takes risks.8Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 2016
Topic 1.2 Spotting a business opportunitySubject contentWhat students need to learn:1.2.1Customer needsIdentifying and understanding customer needs: what customer needs are: price, quality, choice,convenience the importance of identifying and understandingcustomers: generating sales, business survival.1.2.2Market researchThe purpose of market research: to identify and understand customer needs to identify gaps in the market to reduce risk to inform business decisions.Methods of market research: primary research: survey, questionnaire, focus group,observation secondary research: internet, market reports, governmentreports.The use of data in market research: qualitative and quantitative data the role of social media in collecting marketresearch data the importance of the reliability of market research data.1.2.3Market segmentationHow businesses use market segmentation to targetcustomers: identifying market segments: location, demographics,lifestyle, income, age market mapping to identify a gap in the market and thecompetition.1.2.4The competitiveenvironmentUnderstanding the competitive environment: strengths and weaknesses of competitors based on: price,quality, location, product range andcustomer service the impact of competition on business decision making.Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 20169
Topic 1.3 Putting a business idea into practiceSubject contentWhat students need to learn:1.3.1Business aims andobjectivesWhat business aims and business objectives are.Business aims and objectives when starting up: financial aims and objectives: survival, profit, sales,market share, financial security non-financial aims and objectives: social objectives,personal satisfaction, challenge, independenceand control.Why aims and objectives differ between businesses.1.3.2Business revenues, costsand profitsThe concept and calculation of: revenue fixed and variable costs total costs profit and loss interest break even level of output margin of safety.Interpretation of break even diagrams: the impact of changes in revenue and costs break even level of output margin of safety profit and loss.1.3.3Cash and cash-flowThe importance of cash to a business: to pay suppliers, overheads and employees to prevent business failure (insolvency) the difference between cash and profit.Calculation and interpretation of cash-flow forecasts: cash inflows cash outflows net cash flow opening and closing balances.1.3.4Sources of business financeSources of finance for a start-up or established smallbusiness: short-term sources: overdraft and trade credit long-term sources: personal savings, venture capital,share capital, loans, retained profit and crowd funding.10Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 2016
Topic 1.4 Making the business effectiveSubject contentWhat students need to learn:1.4.1The options for start-up andsmall businessesThe concept of limited liability: limited and unlimited liability the implications for the business owner(s) of limited andunlimited liability.The types of business ownership for start-ups: sole trader, partnership, private limited company the advantages and disadvantages of each type ofbusiness ownership.The option of starting up and running a franchise operation: the advantages and disadvantages of franchising.1.4.2Business locationFactors influencing business location: proximity to: market, labour, materials and competitors nature of the business activity the impact of the internet on location decisions:e-commerce and/or fixed premises.1.4.3The marketing mixWhat the marketing mix is and the importance of eachelement: price, product, promotion, place.How the elements of the marketing mix work together: balancing the marketing mix based on the competitiveenvironment the impact of changing consumer needs on the marketingmix the impact of technology on the marketing mix:e-commerce, digital communication.1.4.4Business plansThe role and importance of a business plan: to identify: the business idea; business aims andobjectives; target market (market research); forecastrevenue, cost and profit; cash-flow forecast; sources offinance; location; marketing mix.The purpose of planning business activity: the role and importance of a business plan in minimisingrisk and obtaining finance.Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business – SpecificationIssue 1 – July 2016 Pearson Education Limited 201611
Topic 1.5 Understanding external influences on businessSubject contentWhat students need to learn:1.5.1Business stakeholdersWho business stakeholders are and their differentobjectives: shareholders (owners), employees, customers, managers,suppliers, local community, pressure groups, thegovernment.Stakeholders and businesses: how stakeholders are affected by business activity how stakeholders impact business activity possible conflicts between stakeholder groups.1.5.2Technology and businessDifferent types of technology used by business: e-commerce social media digital communication payment systems.How technology influences bu
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