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GCSE Business Studies Revision Notes

GCSE Business Studies revision notes provide a quick reference guide, helping you to quickly access important information for each topic. If you’re looking to test your newfound knowledge, you can practise exam questions with our bank of past papers .

GCSE Business Studies Key Terms

What are methods of promotion, explain one benefit of providing induction training for employees (3 marks)., what is the difference between a public limited company and a private limited company, what is the difference between limited and unlimited liability, how can i effectively revise for business case studies in the gcse business studies exam.

Analyze case studies by identifying key issues, stakeholders, and possible solutions. Create detailed notes that summarize each case study and link these to relevant business concepts and theories.

What strategies can I use to understand financial statements and business calculations?

Practice interpreting balance sheets, income statements, and cash flow statements. Calculate financial ratios and use them to evaluate a company's performance. Solve business calculations regularly to reinforce your mathematical skills and understanding of financial concepts.

How can I improve my understanding of marketing and business strategy concepts for the GCSE Business Studies exam?

Studying real-world examples of marketing campaigns and business strategies will help to make sense of these concepts. Create mind maps or diagrams to visualize marketing principles, such as the marketing mix (4Ps). Practice analyzing market research data and identifying marketing opportunities.

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Richard Clutterbuck

Education Consultant

“Come on, I’ve given you the mark scheme, you should be able to write a perfect answer…”

At the moment, as I prepare Year 11 for their mock exams in Business Studies and Religious Studies, my use of mark schemes is a regular part of my teaching, helping me create model answers and fleshing out my explanations. Being able to access the GCSE mark schemes is very helpful, but if they are to be useful to the pupils, their application needs to be explicitly taught in the same way we would with any new resource, or piece of knowledge.

This blog is about how I have used word diagrams to enhance my use of mark schemes which in turn are helping the pupils to learn how to answer GCSE exam questions, in this case for GCSE Business Studies. I have used this approach in Religious Studies too and believe that it would work across a range of subjects.

Below is a case study from Edexcel’s Business Studies assessment material. It features the company ‘Loco’ who design and manufacture stand-up paddle boards (SUP). This case study is typical of what the pupils will encounter in the GCSE exams. It starts with an overview of the business, describes what the company does, and the final paragraphs tend to hint at what needs to happen next to improve/expand the business. Pupils are required to apply their knowledge of business to the case study, and answer a range of questions about the business.

Here is a Justify question based upon the case study.

Justify questions carry 9 marks, they start with a statement as to what the business wants/needs to do. They have two options and then the command word in the question which asks pupils to justify their answer.

Answering these questions is fairly formulaic: start with option 1, outline the benefits and how they would impact on the business, contrast with the downsides of option 1 and impact on the business, follow this with option 2 and again outline benefits and how they would impact, follow with the downsides and show how they would impact. Then finish with a justification based on what you have outlined previously.

It may seem fairly straightforward but there is quite a lot of knowledge and skills to manage:

• Identify and use the correct knowledge from business
• Use relevant information from the case study
• Link the information from the case study with the relevant business knowledge
• Think about the structure and remember what’s required for each option.
• Use tier 2 and 3 language and ensure the writing is fluent within and between paragraphs.
• Craft an opening and finish with a meaningful conclusion justifying your choice.

Now it seems quite a lot to take in.

But I want my pupils to be able to do all of this because they can , and I expect them to be able to do this. And through the process of teaching them how to do this, managing their cognitive load is vital. So using the mark schemes does take a lot of pressure off the pupils, allowing them to concentrate on form and structure while they are learning how to answer these questions, as well as learning the curriculum.

Here is the mark scheme for the Justify question above.

As you can see, above is the ‘indicative content’ and below are the level descriptors.

Now, I want all the pupils writing to level 3 so I need to make sure that I am modelling and explaining what those descriptors mean and what this looks like in the form of an answer. Giving the pupils the indicative content means that I can concentrate on the form and structure needed in the written response and ensure that the pupils practise this.

However , it will come as no surprise to you that simply shoving the indicative content under their noses, modelling some level 3 written answers with them, and then directing the pupils to write their own versions doesn’t have the desired effect. When I have done this, I have ended up spending most of my time having to explain the indicative content instead of working on the form and structure.

On reflection it’s pretty obvious why giving the pupils a mark scheme is not a sliver bullet. Understanding the mark scheme (why the material was chosen) is easy for expert thinkers but far harder for the pupils who are still coming to terms with the content: they don’t have the knowledge-specific schema so they can’t identify what should and shouldn’t be in the answer. And as mark schemes tend to be linear, the indicative content does not show how the concepts relate to one another.

This is where my use of word diagrams has come to the rescue. Taking the indicative content in the first instance, I need to be able to show pupils how the content is not only relevant to the Justify questions but show the connections and relationships between the knowledge. For the Justify question, the word diagram needs to be able to show how one piece of knowledge leads on to another piece of knowledge but is also able to show comparison and contrast between the two options, and the cause and effect of each option on the business.

Below is the word diagram I created based on the indicative content

How it works

• Loco is at the centre, option 1 on the left and option 2 on the right
• Solid lines show positive impact
• Dotted line show negative impact
• The layout of the diagram shows cause and effect on ‘Loco’ at the centre
• The use of words in boxes and phrases on lines show relationships between the indicative knowledge
• The diagram also shows which option has the most significant impact on Loco.

Here’s how I created and used it

• I created my own at home prior to working with the pupils so I knew where I wanted to end up but in the classroom we created it together
• Having shown the pupils the case study and ‘Justify’ question I shared the indicative content of the mark scheme with them (not the level descriptors)
• I positioned the question and the mark scheme on the left hand side of the whiteboard leaving space on the right for creating the word diagram.
• Using A5 pieces of paper and masking tape I questioned the pupils using think pair share and cold calling to help identify the key nouns/concepts from the mark scheme. I wrote these on to the A5 sheets of paper.
• I then positioned option 1 and option 2 and Loco on the white board as they appear in the finished word diagram, this way the pupils understood that both options relate to the business in the centre.
• We then spent some time agreeing where to position the other A5 sheets of paper then adding lines between them showing how they relate to one another principally through cause and effect.
• At each stage of the diagram’s creation I was able to call on pupils to use it to answer parts of the question. I would point to a place on the diagram and pupils would read out what we had created I would then get them to repeat it with connectives, sentence starters, tier 2 and 3 vocabulary.
• Once the diagram was finished on the board, I modelled its full use in answering the question. Then ‘picked on’ pupils to approach the board and do the same as I had done. I made them to trace their finger along the diagram while elaborating on what was written. And each pupil had to say it better than the previous pupil.
• At the end of the lesson I took a photo of the diagram and used the photo to turn it into the PPT above.
• The next lesson I gave each of the pupils a copy of the diagram and independently they wrote their own answer to the ‘Justify’ question.

Reflections

Turning the mark scheme into a word diagram allows pupils to see how each piece of knowledge relates to the next. And how the diagram is laid out shows pupils what the structure of a Justify question looks like when applied to the content of the question.

Creating it with the pupils allowed me to covertly introduce the level 3 descriptors through my explanations, modelling and questioning.

The quality of writing from the pupils as a group has improved significantly from previous efforts with the aid of the diagram. Using the diagram has not limited the quality of answer from those pupils who already operate at level 3, rather it gave them a platform to dig deeper into their knowledge and make connections beyond the indicative content.

I need to improve my orchestration of the pupils while the diagram was being created; some of my questioning was a little superficial, and in some instances I just needed to tell the pupils instead of seeing if they could guess what was in my head. Nevertheless, the exercise has proved worthwhile and the pupils seem more confident with what’s required for a Justify answer. We need to go again with new questions to make the method habitual so they can do it independently,  but all-in-all, the use of word diagrams to help pupils make sense of mark schemes works.

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Business Studies GCSE Past Papers

This section includes recent GCSE Business and GCSE Economics past papers from AQA, Edexcel, Eduqas, OCR, WJEC and CIE IGCSE. If you are not sure which exam board you are studying ask your teacher. Past exam papers are a fantastic way to prepare for an exam as you can practise the questions in your own time. You can download each of the exam board's papers by clicking the links below.

• AQA GCSE Business Studies Past Papers
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GCSE: Case Studies

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Would the opening of a fast food restaurant on Riddy lane (Luton) represent a sound business proposition?

Would the opening of a fast food restaurant on Riddy lane (Luton) represent a sound business proposition? Contents- Terms for reference.........................................................................pg. -Introduction....................................................................................pg.3 -Aims and objectives........................................................................pg.3 Methodology.................................................................................pg.5 Market Research Methods..........................................................pg.5 Questionnaire Design...............................................................pg.5 Sampling...............................................................................pg.6 -Findings.............................................................................pg.7 Questionnaire..................................................................... pg.7 . Competition......................................................................pg.14 2. Fast food Market................................................................pg.16 3. Location...........................................................................pg.18 4. Target Market....................................................................pg.20 5.

• Word count: 13502
• Level: GCSE
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Mc Donalds Homework

Mc Donald's Homework .When did McDonalds open its first restaurant in the UK? In the UK McDonald's opened its first restaurant, in Woolwich, in 1974. Initially all of our restaurants were owned & managed by the company. However, we started recruiting franchisees in the mid-1980's and opened our first franchise restaurant in 1986. Since that time the number of UK franchisees has steadily grown. Today over 37% of our 1,200+ restaurants are operated by franchisees. 2.How many customers do McDonalds serve each day on average around the world? McDonald's restaurants are found in 120 countries and territories around the world and serve nearly 54 million customers each day. 3.Give two characteristics that McDonalds look for when deciding whether to give a franchise? In addition to ordinary franchise fees, supplies, and percentage of sales, McDonald's also collects rent, partially linked to sales. As a condition of the franchise agreement, the Corporation owns the properties on which most McDonald's franchises are located. 4.What are the three main requirements that you need to have to be a McDonalds franchisee? Franchisees must undertake an extensive training programme of approximately nine months before they are proposed a restaurant franchise. This training is unpaid. McDonald's do not charge for the training. The training programme is very much the bedrock approach to

• Word count: 1124

EVALUATE THE EFFECTIVENESS OF APPLES APPLICATION OF THE MARKETING MIX WITHIN THE UK MARKET

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• Word count: 4993

Irish Ports: P.E.S.T. analysis

P.E.S.T Analysis: Irish Ports The importance of Irish ports is due to the domination of maritime trade flow between Ireland and England and also the strategic location of Ireland . The Irish ports play a vital role in the national economy. In the last decade alone, the traffic through Ireland's ports has grown considerably. A PEST analysis (PEST is an acronym for: political, economic, social and technology) can help us understand the environmental forces which affect the Irish ports. Political factors: The first significant policy which affected the Irish port sector came in 1991 when the Government established a review group to examine the policy and the legislation governing commercial ports in Ireland. The review group's report noted that "Ireland's ports have been severely constrained in their ability to respond commercially because of the restricted legislation under which they operate". In 1996, thanks to the Harbours Act, the main commercial ports were corporatised. This gave them "the commercial freedom they need to be able to operate as modern, customer oriented service industries" (Report of the Review Group on Commercial Harbours and Pilotage Policy and Legislation, Government of Ireland, 1992). Moreover, the deregulation of European Airlines on April 1st 1997 and the success of the homegrown airline, Ryanair, have given consumers more choice and introduced

• Word count: 1492

Business Strand C

Strand C Investigating job roles and working arrangements Job Roles Define the term 'job role' A 'job role' is what the worker has to do in his or her job for example their responsibilities that the business expects you to fulfil while you re in your job. It refers to their behaviours, rights and obligations in their job; it also is your power as a worker. Your job roles will change according to what jobs they are in, if you change job then your job roles will also change. A job role describes the role of the job it does describe the person who works in that job. One persons job role may include more responsibility than another job this may be because they are higher up in the business hierarchy than the other person. How are job roles defined in a business? Relate to Organisational charts and job descriptions. Each job role will have a specific job description, which outlines all the key responsibilities and duties that the person holding that position will have. For example, a teachers job description lists their role as a tutor, subject teacher, any additional management responsibilities, duty to write reports, attend parents evening and any other duty as required by the head teacher. This would be the hierarchy that is used in a school: In a company there is normally 4 main layers, these layers are directors, managers, supervisors and operatives. Although on the

• Word count: 3791

The changing nature of the Psychological contract and Employment relationship

The changing nature of the Psychological contract and Employment relationship. Course: Human Resources Management Module Subject: Managing Work Behaviour Assignment Tutor: Hazel Shanahan Student Name: Irina Antonyuk Submit Date: 7th of May 2008 Introduction In this assignment I will discuss the changing nature of Psychological Contract and Employment relationship. The study also will outline future trends of psychological contract relationship what employer's can in order to maintain both for the good of the company and employee contribution to the employer. Fundamentally, the psychological contract expresses the combination of beliefs held by an individual and his or her employer about what they expect of one another. Also it can be described as the set of reciprocal but unarticulated expectation that exist between individual employees and their employers. Schein (1965) defined psychological contract as "The notion of psychological contract implies that there is unwritten set of expectations operating at all times between every member of an organisation and the various managers and others in that organisation." Employees develop a set of informal unwritten assumptions about and expectations from their employing organisation. These are said to be depend on employee trust, perceptions of fairness and reliable delivery of the deal over a range of issues such as job

• Word count: 1086

Unit 5 - Customer Services A lvl

Contents Introduction Within this unit I am going to investigate customer services by investigating the organisation and its customers by the general impact of customers of both new and old on the overall organisation, also the difference between internal and external customers, the expectations of the organisation's customers and how customer's expectations would affect the degree of the overall customer service. Also I am going to monitor how effective the business customer service is such as evaluating the staff's appearance, their prompt services, helpfulness, reliability, accuracy of information, teamwork, training and more. Also I will be observing the layout and overall tidiness and accessibility of the premise. Also the service that the business provides with their products and the overall services provided and more. I will also be monitoring how the business maintain and improve customer service and how they keep their customers, such as knowing knowledge of internal complaints procedures, the use of customer service charters and codes of practice, monitoring customer service complaints and a lot more. I will also understand the customer service legislation by learning the key concepts of up to date UK and EU legislation and understanding the implications of business organisations not complying with the UK abd EU legislation. Questionnaire . Who are your

• Word count: 8137

Describe how three external factors are impacting upon the business activities of the selected organisations and their stakeholders. Tescos and Victim Support.

Describe how three external factors are impacting upon the business activities of the selected organisations and their stakeholders. The term meaning external factors are the variety of events that affect the business outside of the organisation. Although these factors do not control the organisation they still have a effect on how the business is run, what their aims and objectives are and how successful the business is. Government &Laws Demand (trend) Costs Environmental issues Global events Competition Definition of P.E.S.T Political- How the local, national, and international developments could affect the organisation and in what ways this could happen. Economical- Nationally and internationally environmental issues that could affect the organisation Social- Social and developing trends that an organisation might use or operate for future planning. Technological- The various types of new technology can put impact on a competitive advantage with other organisations. Political factors These political factors are laws and regulations that are made by the government that could affect the business or organisation (legislations.) Many types of businesses and organisations can be affected by these laws. Political factors can cover a number of things from both national and international laws (European Union) e.g. employment of people within UK (Tesco-working

• Word count: 1064

Do you learn better by yourself or with a teacher?

Do you learn better by yourself or with a teacher? Some people claim that they can learn better by themselves with the help of books and Internet which has many study materials, whereas having a teacher makes them more rely on his/her help. However, those who think this way do not realize several beneficial advantages of having a teacher. Here are a few reasons why I prefer the help of teachers. First, whenever we study and read the new topics or subjects, questions regarding those matters start to appear. At that moment, we need someone to answer those questions and tell us more details about them. From my own experience, when I was a high school student, I had a hard time understanding integral calculus. Although I spent a lot of time studying that particular subject, I couldn`t not only catch up with the required assignment but figure out how to solve the problems by myself. My math teacher pointed out my mistakes and suggested a systematic and better way to approach this subject. I finally got a better and deeper understanding of it. Without that help, this would either have taken too much time or never solved at all. Another reason why teachers are needed is because they not only convey knowledge to students but also give them a right direction. For example, most the students who have just entered into college tend to misuse their freedom e. g. parties, alcoholic drink,

• Word count: 424

In this section I will explain and explore the 7 functional areas of my 2 chosen businesses Sainsbury's and Caf Field.

Section B - Functional Areas In this section I will explain and explore the 7 functional areas of my 2 chosen businesses Sainsbury's and Café Field. These functional areas are: Marketing, Human Resource, I.T and Administration, Finance, Research and Development, Production and Customer Service. Also I will show how each functional area use I.T and how it affects other areas, and relate it to each of the businesses. Moreover, I will explain how they work with other functional areas to improve the business to achieve their aims. Marketing Marketing is the process of executing the marketing mix which consists of the 4 P's. - Product - Involves the actual goods that need to be sold. - Price - The pricing strategy that the product will be sold at. - Place - Where the product will be sold eg Tescos, Currys etc. - Promotion - Any special offers to attract customers eg. Buy One Get One Free. Marketing is the business function where they researches the market for information on competitors and customers and how to sell their product. They also advertise their product using a variety of mediums eg. T.V, radio, magazines etc. The research they carry out is called market research and consists of surveys, internet surveys etc. There are 2 types of market research: - Field Research - where they actually go out and research for themselves which is more expensive but more accurate.

• Word count: 3950

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All you need to know about taking a business studies GCSE!

What is business studies.

You might already know this, but Business Studies teaches all aspects of business, from operations to human resources, and things that have an effect on how well businesses perform, for example, the economy. Business Studies explains how the four pillars of business (marketing, human resources, finance and operations) work together to create a successful company. 

What is a Business Studies GCSE?

Unsurprisingly, Business Studies GCSE aims to test you how well you have grasped the different areas of a business and what can impact them. Not only will you learn about different areas of business, you’ll also learn how company structures can affect productivity or what type of employment contract best suits your staff. You’ll even learn about the different influences on a business from tech to ethical and environmental considerations!

So is Business Studies a good GCSE to take?

Short answer, yes. Longer answer, let’s get into it! Business Studies gives great foundational knowledge of what it’s like to work in a business and the factors that go into making a business successful or not. The great thing about business studies is that it’s universal - the terms and concepts don’t differ depending on who or where you are! You’ll also learn a lot of transferable skills, like leadership or how to be a team player. 

Doing a Business Studies GCSE is also a great way to improve your employability skills. In every business there will be different departments doing wildly different things, but having a good understanding of how a business functions means you can look at the business as a whole. This perspective is rarer than you think and it can help you bring new ideas to the table that benefit the business. 

How to revise for a Business Studies GCSE? 

The best way of knowing how to revise for an exam is to understand its structure; there's no point in learning formulas by heart if the questions are more essay-based. So let’s have a look at the format - the Business Studies GCSE is usually split into two exams, each with three parts:

• Part one - tests your knowledge and understanding of business concepts and issues 
• Part two - asks you to apply your knowledge to a variety of contexts (case studies)
• Part three - asks you to analyse and evaluate information to demonstrate your understanding of business activity and ability to make judgements and draw conclusions (another case study)

During the first part of the exam there will usually be some short, low-mark questions, which are definition/formula based. After the first section, it's on to the higher marks, where you’ll be given a case study and need to answer a mixture of high and low marked questions. 

One of our biggest tips is to know your strengths and weaknesses! If you're not much of a writer and you're getting worried about those longer answers, study the mark scheme and do as many past papers as you can get your hands on. If, on the other hand, you've got the longer marks covered, but can never remember definitions, make use of flashcards and get your friends and family to test you. 

When you’re knee-deep in your preparation for your Business Studies GCSE, you’ll probably realise that having your finger on the pulse can help your grades. Reading the news or listening to news-based podcasts is a great way to cement your learning. After all, if you can apply textbook learning to real-world events, you are pretty much there! 

As we said before, business is universal, so talking to your friends and family about business is a great way to ensure you've got those all-important concepts locked in. In the exam, you're likely to come across some case studies, and talking to friends and family about LinkedIn's new features or Spotify's latest marketing campaign is essentially like revising a case study out loud without even realising it! 

‍ What jobs can Business Studies GCSE get you?

Whilst no GCSE can guarantee you a job, Business Studies is great for opening doors to any sector. After all, every sector has businesses! With a business studies GCSE you could go on to do a business administration apprenticeship, or you could decide to do a business studies A level and/or related degree.

Once you’ve finished your Business Studies GCSE and you’re desperate to learn more, have a think about what areas of a business interest you most. Are you a people-person that loves to figure out what makes people tick? Think about HR! If you’re interested in the day-to-day runnings and always come up with a way to make things easier, why not look for jobs in operations? Another great thing about business is that it’s inclusive, for example, if you’re really creative but not great with numbers you could find a home in marketing.

‍ What is a Business Administration apprenticeship?

If you're not sure whether A levels or a university degree is right for you, why not consider a Business Administration apprenticeship? You'll get to combine learning with real-world work. The apprenticeship normally takes around 18 months to complete and is a great first step into any of the following business areas: 

• Human Resources
• Finance and accounting
• Secretarial
• Procurement
• Office administration
• Customer services

What’s next? 

So once you’ve chosen your Business Studies GCSE, what’s next? Consider how you like to work and what the best options are for you, there are a lot out there from BTEC’s to A levels, apprenticeships and degrees.

How can we help? 

We hope this article helped and you’re one step closer to working out whether a Business Studies GCSE is right for you. If you want to find out more about how to run a business, different areas within a business or even get a head start on what the Business Studies GCSE might involve - why not check out some business Virtual Work Experience programmes ?

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