,OVERVIEW & CONTENTS
Contents
1. Theme One
a) Enterprise and Entrepreneurship
i) The dynamic nature of business
ii) Risk and reward
iii) The role of business enterprise
b) Spotting a business opportunity
i) Customer needs
ii) Market research
iii) Market segmentation
iv) The competitive environment
c) Putting a business idea into practice
i) Business aims and objectives
ii) Business revenues, costs and profits
iii) Cash and cash-flow
iv) sources of business finance
d) Making the business effective
i) The options for start-up and small businesses
ii) Business location
iii) The marketing mix
iv) Business plans
e) Understanding external influences
i) Business stakeholders
ii) Technology and business
1
,Edexcel GCSE Business Guide
iii) Legislation and business
iv) The economy and business
v) External influences
2. Skills assessed in GCSE Business
KEY INFORMATION
- Note that theme one topics will be tested on paper one only
- Note that theme two topics will be tested on paper two only
- Note that this revision guide may not contain all details necessary but will contain most of what
is needed
- Note that this revision guide will cover all content, exam answers may require more in depth
reasoning and chained analysis
- Note that content covered is for the Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business
Specification
GENERAL INFORMATION FOR BUSINESS GCSE EXAM
- When sitting your exam, use black ink or ball-point pen
- Try to answer all questions, and in the spaces provided
- Do not use the space provided as a guide as to how much you should write, instead look at the
number of marks available for each question and use that as a guide for how much time to
spend on each question
- Calculators are permitted within the exam
THEME ONE
Content assessed in paper one will consist of Theme one topics.
1.1
Enterprise and entrepreneurship
1.1.1
The dynamic nature of business
Why do new business ideas come about?
- Changes in technology
- Changes in customer needs
- Products and services become obsolete
Changes in technology
2 Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business (1BS0) Revision guide by Salman Al Ansari Not for redistribution
, Edexcel GCSE Business Guide
- Cheaper technology, Previously expensive equipment has become more affordable.
- E-Commerce/M-Commerce, people can buy and sell online using both computers and mobile
apps.
- Social Media can be used to promote products and interact with customers.
Changes in customer needs
- People want different goods/services as trends change
What is an obsolete product?
- A product that becomes outdated and/or no longer used.
What can a business adapt its existing products to suit
- Different cultures (Mcdonalds developing McArabia sandwich)
- Different consumers (Vegans, health conscious etc.)
Explain how original ideas lead to a business start up.
- Entrepreneurs will often produce many original ideas for new goods and services, if they are
profitable and practical they will be taken into the market, after the entrepreneur has done
research and development of the idea.
How does having business experience lead to start-up ideas?
- Many ideas for successful businesses come from people who have experience of working in a
particular market or industry.
Advantages of having business experience
- Better and more detailed understanding of what customers want
- Knowledge of competitors, pricing, suppliers etc.
- Less need for start-up market research
- Entrepreneur is able to make more realistic assumptions in the business plan about sales, costs,
etc.
- The entrepreneur may have contacts in the industry, who might then become the first
customers of the start-up
What makes a good business idea?
- They solve a problem in consumers’ everyday life
- Offer a cheaper or better way of doing something than existing goods or services Are simple
and practicable
3 Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business (1BS0) Revision guide by Salman Al Ansari Not for redistribution
Contents
1. Theme One
a) Enterprise and Entrepreneurship
i) The dynamic nature of business
ii) Risk and reward
iii) The role of business enterprise
b) Spotting a business opportunity
i) Customer needs
ii) Market research
iii) Market segmentation
iv) The competitive environment
c) Putting a business idea into practice
i) Business aims and objectives
ii) Business revenues, costs and profits
iii) Cash and cash-flow
iv) sources of business finance
d) Making the business effective
i) The options for start-up and small businesses
ii) Business location
iii) The marketing mix
iv) Business plans
e) Understanding external influences
i) Business stakeholders
ii) Technology and business
1
,Edexcel GCSE Business Guide
iii) Legislation and business
iv) The economy and business
v) External influences
2. Skills assessed in GCSE Business
KEY INFORMATION
- Note that theme one topics will be tested on paper one only
- Note that theme two topics will be tested on paper two only
- Note that this revision guide may not contain all details necessary but will contain most of what
is needed
- Note that this revision guide will cover all content, exam answers may require more in depth
reasoning and chained analysis
- Note that content covered is for the Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business
Specification
GENERAL INFORMATION FOR BUSINESS GCSE EXAM
- When sitting your exam, use black ink or ball-point pen
- Try to answer all questions, and in the spaces provided
- Do not use the space provided as a guide as to how much you should write, instead look at the
number of marks available for each question and use that as a guide for how much time to
spend on each question
- Calculators are permitted within the exam
THEME ONE
Content assessed in paper one will consist of Theme one topics.
1.1
Enterprise and entrepreneurship
1.1.1
The dynamic nature of business
Why do new business ideas come about?
- Changes in technology
- Changes in customer needs
- Products and services become obsolete
Changes in technology
2 Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business (1BS0) Revision guide by Salman Al Ansari Not for redistribution
, Edexcel GCSE Business Guide
- Cheaper technology, Previously expensive equipment has become more affordable.
- E-Commerce/M-Commerce, people can buy and sell online using both computers and mobile
apps.
- Social Media can be used to promote products and interact with customers.
Changes in customer needs
- People want different goods/services as trends change
What is an obsolete product?
- A product that becomes outdated and/or no longer used.
What can a business adapt its existing products to suit
- Different cultures (Mcdonalds developing McArabia sandwich)
- Different consumers (Vegans, health conscious etc.)
Explain how original ideas lead to a business start up.
- Entrepreneurs will often produce many original ideas for new goods and services, if they are
profitable and practical they will be taken into the market, after the entrepreneur has done
research and development of the idea.
How does having business experience lead to start-up ideas?
- Many ideas for successful businesses come from people who have experience of working in a
particular market or industry.
Advantages of having business experience
- Better and more detailed understanding of what customers want
- Knowledge of competitors, pricing, suppliers etc.
- Less need for start-up market research
- Entrepreneur is able to make more realistic assumptions in the business plan about sales, costs,
etc.
- The entrepreneur may have contacts in the industry, who might then become the first
customers of the start-up
What makes a good business idea?
- They solve a problem in consumers’ everyday life
- Offer a cheaper or better way of doing something than existing goods or services Are simple
and practicable
3 Pearson Edexcel Level 1/Level 2 GCSE (9–1) in Business (1BS0) Revision guide by Salman Al Ansari Not for redistribution
