YEAR September TOPIC Content KEY TERMS ADDITIONAL RESOURCES/ ACTIVITIES. Students work in groups on their enterprise project

Transcription

1 Cambridge IGCSE BUSINESS STUDIES 0986 (9-1)/ 0450 (A-G) Scheme of work for 2 Year Course For the full syllabus go to RESOURCES Textbook: Cambridge IGCSE Business Studies, Fisher, Houghton and Jain TEST and ASSESSMENTS There will be four tests/assessments in the Christmas Term and 3 Test/Assessments in the other two terms. IGCSE EXAMINATION For Cambridge IGCSE Business Studies, candidates take two compulsory components, Paper 1 and Paper 2. Both question papers will draw on topics taken from the whole of the syllabus content. All candidates are eligible for grades A* to G. Components Weighting Paper 1 1 hour 30 minutes 50% Written examination consisting of four questions requiring a mixture of short answers and structured data responses. Candidates answer all questions. 80 marks. Externally assessed. Paper 2 1 hour 30 minutes 50% Written examination consisting of four questions based on a case study, provided as an Insert with the paper. Candidates answer all questions. 80 marks. Externally assessed. Dates SECTION: Enterprise 11 September TOPIC Content KEY TERMS ADDITIONAL RESOURCES/ ACTIVITIES Enterprise - Dragons Quest Ideas, planning, pitch Students work in groups on their enterprise project Enterprise project resources on VLE GCSE POD - VIDEO GCSE pod video on enterprise 18 September Enterprise - Dragons Quest SECTION: Marketing and production, selling Understanding Business Activity Students work in groups on their enterprise project Enterprise project resources on VLE 25 September Understanding Business Activity The nature and purpose of business activity Classification of a business Business and the environment in which it operates: Concepts of needs, wants, scarcity and opportunity cost Importance of specialisation Purpose of business activity The concept of adding value and how added value can be increased Business activity in terms of primary, secondary and tertiary sectors: Basis of business classification, e.g. by using examples Reasons for the changing importance of business classification, e.g. in developed and developing economies Classify business enterprises between private sector and public sector in a mixed economy Needs, wants, economic problem scarcity, opportunity cost, factor of production, resources: land, labour capital and enterprise, specialisation, division of labour, added value Primary secondary and tertiary, deindustrilisation, mixed economy,: private sector, public sector Introduction to IGCSE Business Studies, Introduction to assessment for Paper 1 and Paper2 Chapter 1, Worksheet 1 () Chapter 2, Worksheet 2 (), Businesses Businesses 2 Oct Enterprise and entrepreneurship Enterprise and entrepreneurship Characteristics of successful entrepreneurs Enterprise, entrepreneur, risk taking, initiative, independence, creativity, organisational skills, hard working, optimistic, effective communicator, self confident Measuring size The methods and problems of measuring business size: Methods of measuring business size, e.g. number of people employed, value of output, capital employed (profit is not a method of measuring business size) Limitations of methods of measuring business size size: number of employees, value of output, turnover (value of sales), value of capital employed Chapter 3, Worksheet 3 Start-up: business plan, Contents of a business plan and how business plans assist entrepreneurs business plan Chapter 3 Business planning 1

2 Government support Why and how governments support business start-ups, e.g. grants, training unemployment, competition, social enterprise Chapter 3 TEST WEEK To week 4 first lesson 9 October Expanding the business 1 Why some businesses grow and others remain small: Why the owners of a business may want to expand the business Different ways in which businesses can grow Problems linked to business growth and how these might be overcome internal growth, external growth, takeover, merger, vertical integration forwards and backwards, horizontal integration, conglomerate integration, diversification, Chapter 3 Expanding a business, changing aims and objectives Expanding the business 2 Why some businesses grow and others remain small: Why the owners of a business may want to expand the business Different ways in which businesses can grow Problems linked to business growth and how these might be overcome internal growth, external growth, takeover, merger, vertical integration forwards and backwards, horizontal integration, conglomerate integration, diversification, Chapter 3 Expanding a business, changing aims and objectives 16 Oct Business failure Why some businesses remain small Causes of business failure, e.g. lack of management skills, changes in the business environment Why new businesses are at a greater risk of failing market size, poor management, over expansion, business failure, risk Chapter 3. ASSESSMENT WEEK Assessment Chapter 1-3 (Paper 1 type) AIR BRICK LESSON Catch up time for any lessons missed or topics that need more work following the assessment 30 October Types of business organisation The main features of different forms of business organisation: Sole traders, partnerships, Sole trader, unlimited liability, partnership, partnership agreement, limited liability partnership, capital Private limited company, incorporated business, unincorporated business, shareholders, Articles and memorandum of association, accounts, legal formality, separate legal entity, continuity, regulations, divorce between ownership and control, AGM, directors, dividends, stock exchange. Joint venture, franchise, franchisee, franchisor, royalties, brand. Public corporation, monopoly, nationalise, efficiency Chapter 4, Worksheet 4 The importance of limited liability, choosing an appropriate legal structure Types of business organisation private and public limited companies Differences between unincorporated businesses and limited companies Concepts of risk, ownership and limited liability Chapter 4, Worksheet 4 EXAM TECHNIQUE: Answering 8 and 12 mark questions 6 November 2

3 Types of business organisation Franchises joint ventures (1) Recommend and justify a suitable form of business organisation to owners/ management in a given situation Business organisations in the public sector, e.g. public corporations Sole trader, unlimited liability, partnership, partnership agreement, limited liability partnership, capital Private limited company, incorporated business, unincorporated business, shareholders, Articles and memorandum of association, accounts, legal formality, separate legal entity, continuity, regulations, divorce between ownership and control, AGM, directors, dividends, stock exchange. Joint venture, franchise, franchisee, franchisor, royalties, brand. Public corporation, monopoly, nationalise, efficiency Chapter 4, Worksheet 4 The importance of limited liability, choosing an appropriate legal structure 13 November Business objectives Discuss the importance of business objectives. Identify and explain different business objectives, eg. survival, growth, profit and market share. Discuss the objectives of social enterprise. Demonstrate an awareness of the differences in the aims and objectives of private sector and public sector enterprises. objectives: survival, profit, return to shareholders, growth, market share, social enterprise, financial objectives, service objectives, social objectives, Chapter 5 Worksheet 5 Changing business objectives Stakeholders The role of stakeholder groups involved in business activity: Main internal and external stakeholder groups Objectives of different stakeholder groups Use examples to illustrate these objectives and how they might conflict stakeholders, stakeholder objectives, stakeholder conflict Chapter 5 Worksheet 5 Business decisions and stakeholders TEST WEEK Chapters 1-5 Paper 1 and 2 type 20 Nov Conflict between stakeholders Business decisions and stakeholders SECTION 2 PEOPLE IN BUSINESS Motivating workers What is motivation? Theories of motivation Chapter 6 Worksheet 6 27 November Methods of motivation: Financial and nonfinancial rewards and methods Recommend and justify appropriate method(s) of motivation in given circumstances Motivation: money, security, social needs, esteem needs, job satisfaction, hierarchy of needs, physiological needs, self actualisation, motivators, hygiene factors, financial rewards,wages, time rate, piece rate, salary, commission, profit sharing, bonus, performance related pay, share ownership. non financial rewards, share option, expense account, pension, working conditions, fringe benefit, recognition, status, job rotation, job enlargement, job enrichment, team working Chapter 6 Chapter 6 Worksheet 6 Joe and Sasha p 76 3

4 Organisational chart Draw, interpret and understand simple organisational charts: Simple hierarchical structures: span of control, hierarchy, chain of command and delegation Roles, responsibilities and inter-relationships between people in organisations organisational structure, organisation chart, chain of command, span of control, levels roles and responsibilities, line manager, staff manager Chapter 7 Worksheet 7 Organisational structure 4 December Management and leadership The role of management: Functions of management planning, organising, coordinating, commanding and controlling Importance of delegation; trust versus control Planning, organising, controlling, coordinating, commanding, controlling. delegation, leadership style, Autocratic, democratic, laissez faire Chapter 7 Worksheet 7 Review 11 December ASSESSMENT WEEK AIR BRICK LESSON Catch up time for any lessons missed or topics that need more work following the assessment Holiday work Tabanski p 69 8 January Communication Why effective communication is important and the methods used to achieve it: Effective communication and its importance to business Benefits and limitations of different communication methods including those based on information technology (IT) Recommend and justify which communication method to use in given circumstances Demonstrate an awareness of communication barriers: How communication barriers arise and problems of ineffective communication; how communication barriers can be reduced or removed communication, message, transmit, sender, receiver, medium, feedback, effective communication, internal communication, external communication, one way, two way, communication methods, verbal, written, visual, one to one, video conferencing, business letter, memo,, report, notice, formal and informal, direction of communication, barriers to communication Chapter 9 Worksheet 9, Motivating theory: Taylor and Motivating there Maslow. remuneration Joe and Sasha p Jan Recruitment and Selection The methods of recruiting and selecting workers: Recruitment and selection Difference between internal and external recruitment Main stages in recruitment and selection of staff Benefits and limitations of part-time and full-time workers recruitment, selection, health and safety, redndancy, job analysis, job description, job specification, internal/ external recruitment, application form, CV/ resume, interview, part time, full time, recruitment agency, job centre, short list, contract of employment Chapter 8 Worksheet 8 Recruitment and selection 22 Jan Training The importance of training and the methods of training: Importance of training to a business and workers Benefits and limitations of induction training, on-thejob training and off-the-job training training, induction, on the job, off the job, Chapter 8 Worksheet 8, Qp 112 4

5 Reducing the workforce Why reducing the size of the workforce might be necessary: Difference between dismissal and redundancy with examples to illustrate the difference Understand situations in which downsizing the workforce might be necessary, e.g. automation or reduced demand for products Recommend and justify which workers to recruit/ make redundant in given circumstances workforce planning, dismissal, redundancy, retire, resign, downsize Chapter 8 Worksheet 8 29 Jan Trade unions Trade unions: What a trade union is and the benefits of workers being union members Trade union, closed shop, industrial action Chapter 7 Worksheet 7, Sasha and PPb p 90 Legal controls Legal controls over employment issues and their impact on employers and employees: Legal controls over employment contracts, unfair dismissal, discrimination, health and safety, legal minimum wage Discrimination, health and safety, ethical, unfair dismissal, industrial tribunal, minimum wage Chapter 8 Worksheet 8, Q Protecting staff through legislation 5 Feb Review Precision Tooling Case study for holiday work ASSESSMENT WEEK SECTION 3 MARKETING 19 Feb Satisfying customer needs The role of marketing: Identifying customer needs Satisfying customer needs Maintaining customer loyalty; building customer relationships Market changes: Why customer/consumer spending patterns may change The power and importance of changing customer needs Why some markets have become more competitive How business can respond to changing spending patterns and increased competition Marketing, marketing department, customer loyalty, customer awareness, image, market share, ageing population, globalisation, competitiveness, Chapter 10, worksheet 10 Niche and mass markets Concepts of niche marketing and mass marketing: Benefits and limitations of each approach to marketing mass market, niche market, premium price Chapter 10, worksheet Feb Market segmentation How and why market segmentation is undertaken: How markets can be segmented, e.g. according to age, socio-economic grouping, location, gender Potential benefits of segmentation to business Recommend and justify an appropriate method of segmentation in given circumstances market segments; socio economic group, usage, lifestyle, Chapter 10, worksheet 10, qp141 TEST WEEK Chapters 1-5 Paper 1 and 2 type 5 Mar 5

6 Market research The role of market research and methods used: Market-oriented businesses (uses of market research information to a business) Primary research and secondary research (benefits and limitations of each) Methods of primary research, e.g. postal questionnaire, online survey, interviews, focus groups; the need for sampling Factors influencing the accuracy of market research data. Presentation and use of market research results: Analyse market research data shown in the form of graphs, charts and diagrams: draw simple conclusions from such data product and market orientation, marketing budget, market research, primary, secondary, accuracy, questionnaires, interviews focus groups observation, sampling, random sample, quota, sample, reliability, bias, respondents, tally chart, bar chart, pie chart Chapter 11, Worksheet 11 Conducting market research 12 Mar Marketing Mix Product Product: The costs and benefits of developing new products Brand image impact on sales and customer loyalty The role of packaging marketing mix, 4ps, types of product - types of goods consumer goods, consumer services, producer goods, producer services, design, product development, unique selling point, brand image, brand name, brand loyalty, packaging, Chapter 12, worksheet 12 Product life cycle The product life cycle: main stages and extension strategies; draw and interpret a product life cycle diagram How stages of the product life cycle can influence marketing decisions, e.g. promotion and pricing decisions product life cycle, development, introduction, growth, maturity, situation, decline, extending the product life cycle, extension strategy, Chapter 12, worksheet 12, Q p167 Product life cycle 19 March ASSESSMENT WEEK 16 April Marketing Mix (Price) Price: Pricing methods: cost plus, competitive, penetration, skimming and promotional; their benefits and limitations Recommend and justify an appropriate pricing method in given circumstances Understand the significance of price elasticity: difference between price elastic demand and price inelastic demand; importance of the concept in pricing decisions (knowledge of the formula and calculations of PED will not be examined) Price, pricing, pricing strategy, cost plus, competitive, penetration, skimming, promotional, psychological, dynamic, price elasticity of demand, elastic, inelastic Chapter 12, worksheet April 6

7 Marketing Mix (Promotion) Promotion: The aims of promotion Different forms of promotion and how they influence sales, e.g. advertising, sales promotion The importance of the marketing budget in making promotion decisions; need for cost effectiveness in spending the marketing budget Promotion, advertising, sales promotion,advertising media, publicity, gifts, bogof, competitions, point of sale display, demonstration, after sales service, free sample, public relations, sponsorship, technology and marketing, cultural differences Chapter 13, worksheet 13 Marketing mix promotion 30 May Distribution/Place Place distribution channels: Advantages and disadvantages of different channels Recommend and justify an appropriate distribution channel in given circumstances distribution channels, retailer, wholesaler, agent, department store, chain store, discount store, superstore, supermarket, direct sales Chapter 13, worksheet 13 Marketing mix place TEST WEEK 7 May E-Commerce Technology and the marketing mix: Define and explain the concept of e-commerce The opportunities and threats of e-commerce to business and consumers Use of the internet and social networks for promotion e-commerce, website design, perishable Chapter 13, worksheet 13, Q p 197 Marketing strategy Justify marketing strategies appropriate to a given situation: Importance of different elements of the marketing mix in influencing consumer decisions in given circumstances Recommend and justify an appropriate marketing strategy in given circumstances Marketing strategy, Chapter 14, worksheet 14, Q1 p May Law and marketing The nature and impact of legal controls related to marketing: Impact of legal controls on marketing strategy, e.g. misleading promotion, faulty and dangerous goods legal controls and marketing; weights and meaures, trade descriptions, sale of goods and services, distance selling regulations Chapter 15 worksheet 15 Entering foreign markets The opportunities and problems of entering new markets abroad: Growth potential of new markets in other countries Problems of entering foreign markets, e.g. cultural differences and lack of knowledge Benefits and limitations of methods to overcome such problems, e.g. joint ventures Lack of knowledge, cultural differences, exchange rate, import restrictions, non payment, risk, transport costs, joint venture, licensing, international franchising, glocalisation Chapter 15 worksheet 15, Q2 p May 7

8 OPERATIONS MANAGEMENT Production of goods and services The meaning of production: Managing resources effectively to produce goods and services Difference between production and productivity Benefits of increasing efficiency and how to increase it, e.g. increasing productivity by automation and technology, improved labour skills Why businesses hold inventories (stocks) Concept of lean production; how to achieve it, e.g. just-in-time inventory control and Kaizen; benefits of lean production Production, resources effective, efficient, input, output operations department, productivity, stock (inventory), buffer inventory level, reorder level, lean production, overproduction, defects, kaizen, just in time, cell production, Chapter 15 worksheet 15 Job, batch and flow The main methods of production: Features, benefits and limitations of job, batch and flow production Recommend and justify an appropriate production method for a given situation How technology has changed production methods, e.g. using computers in manufacturing and design job, batch, flow, automation, mechaniation, CAD, CAM, CIM, EPOS, EETPOS, contactless payment Chapter 15 worksheet 15 Q p 221 REVISION Teen Fashions for holiday work 4 June RERVISION PROGRAMME 11 June RERVISION PROGRAMME 18 June RERVISION PROGRAMME 25 June EXAM WEEK YEAR 2 YEAR 2 1 Costs Identify and classify costs: Classifying costs fixed, variable, average, total; use examples to illustrate these Use cost data to help make simple cost-based decisions, e.g. to stop production or continue costs, fixed, variable, total, average, Chapter 16 worksheet 16 Economies and diseconomies of scale Economies and diseconomies of scale: The concepts of economies and diseconomies of scale; examples of both economies of scale: purchasing, marketing, financial, managerial, diseconomies: poor communication, low morale, slow decision making Chapter 16. worksheet

9 Breakeven Explain, interpret and use a simple break-even chart: The concept of break even Construct, complete or amend a simple break-even chart Interpret a given chart and use it to analyse a situation Use a chart to help make simple decisions, e.g. impact of higher price Understand the limitations of break-even charts Break even level of output, brea even chart, profit, loss, breakeven point, breakeven formula margin of safety Chapter 16 worksheet 16 q p Achieving quality production Why quality is important and how quality production might be achieved: What quality means; why it is important for all businesses Concept of quality control and how businesses implement quality control The concept of quality assurance quality, quality control, quality assurance, TQM, quality circle, quality mark Chapter 17 worksheet 17. q p 240 Quality Location The main factors influencing the location and relocation decisions of a business: Factors relevant to the location decision of manufacturing businesses and service businesses Factors that a business could consider when deciding which country to locate operations in The role of legal controls on location decisions Recommend and justify an appropriate location for a business in given circumstances Factors affecting location in UK and abroad, legal controls and location, multinational, incentives, trade barriers, tariffs. planning regulations, government grant, government subsidy, tax rates Chapter 18 worksheet 18, q p254 Choosing the right location 4 Sunshine Foods FINANCE Sources of finance The need for business finance: The main reasons why businesses need finance, e.g. start-up capital, capital for expansion and additional working capital Understand the difference between short-term and longterm finance needs The main sources of capital: Internal sources and external sources with examples Short-term and long-term sources with examples, e.g. debt or equity for long-term finance Importance of microfinance in developing economies The main factors considered in making the financial choice, e.g. size and legal form of business, amount required, length of time, existing loans Recommend and justify appropriate source(s) of finance in given circumstances finance, capital and revenue expenditure, start up capital,, short term. long term, working capital, internal finance, external finance, retained profit, sales of existing assets, debenture, debt factoring, microfinance, overdraft, trade credit, bank loan, hire purchase, leasing, issue of shares, risk, gearing, security Chapter 19 worksheet 19, q p 271 Financing growth, financing for large business 5 9

10 Cash flow The importance of cash and of cash-flow forecasting: Why cash is important to a business What a cash-flow forecast is, how a simple one is constructed and the importance of it Amend or complete a simple cash-flow forecast How to interpret a simple cash-flow forecast How a short-term cash-flow problem might be overcome, e.g. increasing loans, delaying payments, asking debtors to pay more quickly Working capital: The concept and importance of working capital cash, cash flow, inflow, outflow, cash flow cycle, cash flow forecast (budget), cash flow problems, working capital, profit, opening cash, net cash flow, closing cash Chapter 20 worksheet 20, qp282 Forecasting cash flow 6 Week 6 Income statement (profit and loss) What profit is and why it is important: How a profit is made Importance of profit to private sector businesses, e.g. reward for risk taking/enterprise, source of finance Difference between profit and cash Income statements: Main features of an income statement, e.g. revenue, cost of sales, gross profit, profit ( profit was known as net profit in the 2014 and previous syllabuses ) and retained profit Use simple income statements in decision making based on profit calculations (constructing income statements will not be examined) Accounts, accountant, final accounts, profit, profit v cash, income statement, gross profit, sales revenue, cost of goods sold, trading account, net profit, depreciation, retained profit Chapter 21 worksheet 21, q p 293 Profit and loss accounts Week 7 Balance sheet The main elements of a balance sheet: The main classifications of assets and liabilities Examples to illustrate these classifications Interpret a simple balance sheet and make deductions from it, e.g. how a business is financing its activities and what assets it owns, sale of inventories to raise finance (constructing balance sheets will not be examined) balance sheet, assets and liabilities; non current assets, current assets, non current liabilities, current liabilities Chapter 22 worksheet 22, q p 301 Balance sheets 10

11 Analysis of accounts How to interpret financial statements by calculating and analysing accounting ratios: Gross profit margin Profit margin ( profit margin was known as net profit margin in the 2014 and previous syllabuses ) Return on Capital Employed Current ratio Acid test ratio Liquidity: The concept and importance of liquidity Why and how accounts are used: Needs of different users of accounts and ratio analysis How users of accounts and ratio results might use information to help make decisions, e.g. whether to lend to or invest in the business Liquidity, capital employed, ratios ROCE, gross profit margin, net profit margin, profitability, Current ratio, acid test, stakeholder Q p 311 Week 8 THE PARADISE GROUP Government economic objectives and policies, environment How government control over the economy affects business activity: Government economic objectives, e.g. increasing Gross Domestic Product (GDP) Main stages of the business cycle; growth, boom, recession, slump inflation, real income, unemployment, economic growth, gross domestic product, Balance of payments, business cycle, boom, recession, slump, exports, imports, balance of payments deficit Chapter 24, worksheet 24 impact of interest rates, and the business cycle Week 9 Government economic objectives and policies, How changes in taxes and government spending can affect business activity How changes in interest rates can affect business activity How businesses might respond to these changes fiscal policy, direct taxes, indirect taxes, disposable income, income tax, corporation tax, VAT, tariff, quota, government spending, monetary policy, interest rates, exchange rate appreciation, supply side policy, privatisation, Chapter 24, worksheet 24,q p 328 Week 10 Government economic objectives and policies, How changes in taxes and government spending can affect business activity How changes in interest rates can affect business activity How businesses might respond to these changes fiscal policy, direct taxes, indirect taxes, disposable income, income tax, corporation tax, VAT, tariff, quota, government spending, monetary policy, interest rates, exchange rate appreciation, supply side policy, privatisation, Chapter 24, worksheet 24, q p 328 Term 2 Week 1 and 2 11

12 11/12 Environment and ethics Environmental concerns and ethical issues as both opportunities and constraints for businesses: How business activity can impact on the environment, e.g. global warming The concept of externalities; possible external costs and external benefits of business decisions Sustainable development how business activity can contribute to this How/why business might respond to environmental pressures and opportunities; pressure groups The role of legal controls over business activity affecting the environment, e.g. pollution controls Ethical issues a business might face; conflicts between profits and ethics How business might react and respond to ethical issues, e.g. child labour Social responsibility, environment, externalities, sustainable development pressure groups, legal controls, ethical issues Chapter 25, worksheet 25 q p 339 Term 2 Week 3 EXTERNAL INFLUENCES Globalisation The importance of globalisation: The concept of globalisation and the reasons for it Opportunities and threats of globalisation for businesses Why some governments might introduce import tariffs and quotas globalisation - opportunities and threats, tariffs and quotas, multinationals, exchange rates Chapter 26, worksheet 26 Week 4 Multinational Corporations Discuss benefits to a business of becoming multinational (MNC). Explain potential benefits to a country and/ or economy where a MNC is located, eg. job, exports, increased choice, investment. Identify potential drawbacks to a country and/ or economy where a MNC is located, eg. reduced sales of local businesses, repatriation of profits. Chapter 26, worksheet 26 Week 5 Exchange rates The impact of exchange rate changes: Depreciation and appreciation of an exchange rate How exchange rate changes can affect businesses as importers and exporters of products, e.g. prices, competitiveness, profitability (exchange rate calculations will not be examined) REVISION PROGRAMME BEGINS Chapter 26, worksheet 26, q p 348 HALO ENTERPRISES Impact of exchange rate 12