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

Theme 1: Investigating Small Business

  • Focuses on concepts, skills involved in starting and managing a small business.

  • Discussion of local and national contexts and their impact on operations.

Topics Under Theme 1

  1. **Enterprise and Entrepreneurship (1.1)

    • Nature and source of business ideas, risks, and rewards.

  2. **Spotting Business Opportunities (1.2)

    • Understanding needs, market research, and competitive analysis.

  3. **Putting a Business Idea into Practice (1.3)

    • Aims, objectives, revenue, costs, cash-flow, and finance sources.

  4. **Making the Business Effective (1.4)

    • Importance of location, marketing mix, business plans.

  5. **Understanding External Influences on Business (1.5)

    • Insights on technology, legislation, economy, stakeholder impacts.

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Theme 2: Building a Business

  • Explores growth beyond start-up phase considering wider global context.

Topics Under Theme 2

  1. **Growing the Business (2.1)

    • Methods of growth, changes in aims.

  2. **Making Marketing Decisions (2.2)

    • Elements of the marketing mix and their management.

  3. **Making Operational Decisions (2.3)

    • Purpose of operations, technological impacts, quality management.

  4. **Making Financial Decisions (2.4)

    • Financial tools and understanding performance.

  5. **Making Human Resource Decisions (2.5)

    • Organisational structure, effective recruitment and training.