iGCSE Business provides a good introduction to Business and Economics. You will learn to identify whether it is more appropriate for an entrepreneur to operate as a sole trader or to form a limited company. You will discuss when a government should run a business. You will consider the advantages of franchises, both from the view of a start-up business and for an expanding business with a recognised brand. Students are fascinated by the many business stories about a small local start-up in India, the state-owned water corporation in Uganda, or a Japanese multinational business. As a business grows you learn to reflect on how it should change to cope with its increasing size, risk and need for finance. The course introduces you to the key business functions of finance, marketing, operations and HR. The course has an international focus including the effect of exchange rates, tariffs and the impact of globalisation on business.
You will study the following units for iGCSE Business:
- Business Activity and Influences on Business
- People in Business
- Business Finance
- Business Operations.
There are two exams (Paper 1 and Paper 2) at the end of one year of study in May/June. The examinations for Paper 1 and Paper 2 can draw on the knowledge and understanding from across the entire specification content. Paper 1 will focus on a small business of up to 49 employees that has a local/national market. Paper 2 will focus on a large business of more than 250 employees that has a multinational/global market.
Each examination lasts 1 hour and 30 minutes and consists of four compulsory questions, each worth 20 marks, a total of 80 marks. The sub-questions are a mixture of multiple-choice, short-answer, data-response and open-ended questions.
You will carry out independent research into aspects of business. You will then share your research in class. This includes business news and up-to-date business results, franchise
opportunities, new product design and a focus on limited companies and public sector corporations.
There is an emphasis on international and British culture as you reflect on the structure of economies. In particular you will learn out about British institutions such as the NHS and the BBC.
iGCSE Business is a good introduction to Business and Economics, leading naturally in to A Level Business and/or A Level Economics. There are also links to Law, Psychology and Geography through common topics such as consumer protection, employee motivation and globalisation.