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AQA GCSE Business (8132)

Spec code 8132 · v2017 · valid from 2017

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6 domains · 32 topics

Mastered In progress Not started Higher tier
3.1

Business in the real world

7 topics
  1. 3.1.1The purpose and nature of businesses: reasons for starting a business, factors of production, goods vs services, primary/secondary/tertiary sectors, public vs private sector
  2. 3.1.2Business ownership: sole traders, partnerships, private and public limited companies, franchises, not-for-profit; advantages, disadvantages and limited vs unlimited liability
  3. 3.1.3Setting business aims and objectives: financial (survival, profit, growth, market share) and non-financial (social, ethical, personal satisfaction); how aims and objectives change over time
  4. 3.1.4Stakeholders: who they are (owners, employees, customers, suppliers, government, community), their objectives, possible conflicts and how businesses balance them
  5. 3.1.5Business location: factors affecting location (proximity to market, materials, labour, competitors, infrastructure, costs); influence of e-commerce on location decisions
  6. 3.1.6Business planning: purpose and contents of a business plan, sources and importance of business advice
  7. 3.1.7Expanding a business: methods of growth (organic and external — mergers, takeovers, franchising); economies and diseconomies of scale; sources of finance for expansion
3.2

Influences on business

6 topics
  1. 3.2.1Technology: how technology influences business activity (e-commerce, social media, digital communications, payment systems); benefits and drawbacks of new technology
  2. 3.2.2Ethical and environmental considerations: ethical and environmental influences on business decision-making, including the trade-off with profit and the role of pressure groups
  3. 3.2.3The economic climate: how interest rates, exchange rates, inflation, unemployment, taxation and consumer income affect business activity
  4. 3.2.4Globalisation: opportunities and threats from operating in a global market, the role of multinational corporations, importance of international trade and trade barriers (tariffs, quotas)
  5. 3.2.5Legislation: the impact of consumer law, employment law, health and safety legislation and other regulation on business decisions
  6. 3.2.6Competitive environment: how competition (price, quality, customer service, USP) influences business activity, market structures and risk
3.3

Business operations

4 topics
  1. 3.3.1Production processes: job, batch and flow production; impact of different production methods on cost, quality, productivity and flexibility
  2. 3.3.2The role of procurement: managing stock and suppliers, just-in-time vs just-in-case, logistics, the importance of supply chains, factors when choosing suppliers
  3. 3.3.3The concept of quality: quality control vs quality assurance, the importance of consistent quality, consequences of poor quality
  4. 3.3.4Good customer service: methods of meeting customer needs, the importance of customer engagement, after-sales service and customer feedback
3.4

Human resources

4 topics
  1. 3.4.1Organisational structures: hierarchical vs flat, centralised vs decentralised, span of control, chain of command, delegation, communication channels
  2. 3.4.2Recruitment and selection: internal vs external recruitment, job description, person specification, application forms, CVs, interviews and selection methods
  3. 3.4.3Motivating employees: financial methods (wages, salaries, commission, bonuses, fringe benefits) and non-financial methods (job rotation, enrichment, autonomy, team working)
  4. 3.4.4Training: induction, on-the-job and off-the-job training, importance and costs of training; impact of training on employee performance and motivation
3.5

Marketing

7 topics
  1. 3.5.1Identifying and understanding customers: the importance of identifying customer needs, market segmentation by demographics, geography, lifestyle and income
  2. 3.5.2Market research: primary vs secondary research, qualitative vs quantitative data, sampling methods, use of ICT in market research
  3. 3.5.3The marketing mix — Product: design mix (function, aesthetics, cost), product life cycle, extension strategies, the Boston matrix
  4. 3.5.4The marketing mix — Price: pricing strategies (cost-plus, penetration, skimming, competitor, promotional, loss-leader), price elasticity of demand
  5. 3.5.5The marketing mix — Promotion: advertising (above and below the line), sponsorship, product trials, special offers, branding, public relations
  6. 3.5.6The marketing mix — Place: distribution channels (direct, retailer, wholesaler), e-commerce and m-commerce, factors influencing place decisions
  7. 3.5.7Using the marketing mix: how the elements influence and depend upon each other to make effective marketing decisions
3.6

Finance

4 topics
  1. 3.6.1Sources of finance: internal (retained profit, sale of assets) and external (loans, share capital, overdrafts, trade credit, leasing, crowdfunding); short-term vs long-term
  2. 3.6.2Cash flow: meaning of cash flow, cash-flow forecasts, calculating net cash flow and closing balances, the difference between cash and profit, managing cash-flow problems
  3. 3.6.3Financial terms and calculations: revenue, fixed and variable costs, total costs, profit and loss, gross profit and net profit; calculation methods
  4. 3.6.4Analysing the financial performance of a business: average rate of return, break-even analysis (calculation and interpretation), gross profit margin, net profit margin, the limitations of financial analysis