Pearson Edexcel Level 1/Level 2 GCSE (9-1) in Business Specification Notes

  • Qualification Overview

    • Pearson Edexcel Level 1/Level 2 GCSE (9-1) in Business (1BS0) Specification Issue 2
    • First teaching: September 2017
    • First certification: 2019
    • Duration of assessments: 1 hour and 45 minutes for each paper

  • Assessment Structure

    • Consists of two externally examined papers
      • Paper 1: Investigating small business
        • Weighted: 50%
        • Content Areas: 90 marks
        • Topics Covered: Enterprise and entrepreneurship, spotting business opportunities, business effectiveness, external influences.
      • Paper 2: Building a business
        • Weighted: 50%
        • Content Areas: 90 marks
        • Topics Covered: Growing the business, marketing decisions, operational decisions, financial decisions, human resource decisions.
    • Both papers include calculations, multiple-choice, short-answer, and extended-writing questions.

  • Key Themes Covered

    • Theme 1: Investigating Small Business

      • Importance of entrepreneurship in creating business ideas driven by consumer needs and market demands.
      • Evaluating risks and rewards that impact operations (risk of failure versus potential rewards like profits).
      • Understanding stakeholder impacts on business.

    • Theme 2: Building a Business

      • Expansion methods: internal growth (innovation) vs external growth (mergers/takeovers).
      • Evaluating marketing decisions: pricing strategies, promotional methods, and distribution channels.
      • Operational decisions: balancing productivity and quality in business processes.
      • Financial decisions: calculations of profit margins, cash flow management.
      • Human resources management and development of workforce structures.

  • Assessment Objectives

    • AO1: Knowledge and understanding of business concepts and issues (35%)
    • AO2: Application of knowledge and understanding in various contexts (35%)
    • AO3: Analysis and evaluation of business information to make judgments (30%)

  • Command Word Taxonomy

    • Define: Require exact meanings.
    • Calculate: Use math skills to provide results.
    • Explain: Offer facts with further detail.
    • Evaluate: Provide a supported conclusion based on provided data.

  • Quantitative Skills Required

    • Includes calculations for profit, revenue, costs, interest, and cash flows.
    • Students should be capable of interpreting quantitative data from business scenarios.

  • Appendices Overview

    • Appendix 1: Command word definitions.
    • Appendix 2: Explanation of quantitative skills.
    • Appendix 3: Key formulae used in calculations (e.g., revenue = price × quantity, break-even analysis).
    • Appendix 4: Calculator guidelines for exam conditions.
    • Appendix 5: Context for qualification development.

  • Resources for Educators

    • Comprehensive Getting Started Guide.
    • Editable course planners and teaching materials.
    • ResultsPlus for performance analysis and targeted support materials.
    • Availability of expert support from subject advisors for implementation guidance.

  • Future Pathways

    • Progression to Level 3 academic and vocational qualifications.
    • Skills learned provide a foundation for careers in management, finance, and marketing.