IGCSE Business Studies
IGCSE Business Studies stands as a proof of understanding of business concepts and techniques across a range of businesses. IGCSE Business Studies students will get an understanding of the different forms of business organizations, learn the different ways in which these organizations operate, and analyze how inter-departments such as marketing, operations, and finance work together. They also learn to appreciate the role of people in the success of any business. Aside from theoretical understanding of concepts and techniques, IGCSE Business Studies students gain lifelong skills such as the ability to analyze business data, communication skills to support arguments with proper reasoning, and the ability to analyze business situations and make decisions or judgements.
The IGCSE Business Studies syllabus consists of 6 topics which are:
- Understanding Business Activity
- People in Business
- Operations Management
- Financial Information and Decisions
- External Influences on Business Activity
Based on these 6 topics students are required to apply their understanding to a variety of simple business situations. Students should be able to make simple decisions based upon the analysis and evaluation of information provided.
IGCSE Business Studies Curriculum
The syllabus is divided into the sections listed below. Each section contains revision notes, interactive quizzes, crossword puzzles, gap fills, word search quizzes, case studies, worksheets, and other goodies.
This section also covers the majority of the topics for IB Business & Management, OCR, AQA, EDEXCEL GCSE Business studies, and other international curricula.
Scheme of Evaluation
0450 is the Cambridge IGCSE Business Studies Syllabus code.
Candidates for Cambridge IGCSE Business Studies must complete two compulsory components, Paper 1 and Paper 2. Both question papers will draw on topics drawn from the entire syllabus. Grades A*–G are available to all candidates.
1 hour 30 minutes for Paper 1
- Written exam with four questions requiring a combination of short answers and structured data responses.
- Candidates respond to all questions.
- 80 marks.
- External evaluation.
1 hour 30 minutes for Paper 2
- An insert with the paper contains a written examination consisting of four questions based on a case study.
- Candidates respond to all questions.
- 80 marks.
- Externally evaluated
Planning to Prepare for IGCSE Business Studies?
Knowledge: How important is it in IGCSE Business Studies?
On the surface, knowledge is worth 40% of your total IGCSE. Knowledge accounts for half of all marks on paper 1, short answer questions are 100% knowledge, and knowledge accounts for two marks on longer c,d, and e questions.
However, knowledge is the foundation or building blocks of EVERY answer. You cannot access ANY of the other marks for application, analysis, or evaluation unless you have at least one knowledge point. Although it is technically 40% of your IGCSE. You can’t even begin to score points without knowledge.
This is repeated in paper 2. There is no explicit score for knowledge in the 12 mark questions. However, if you do not demonstrate sound knowledge and understanding, you will not be able to access the higher marks for their answer. Your maximum mark will be 4 out of 12 if you demonstrate limited knowledge and understanding.
Knowledge: What students need to know to ace IGCSE Business
You must learn all of the key business terms and concepts on the syllabus. Any business term on the syllabus is fair game for a definition question.
The Cambridge syllabus is updated on a regular basis, and it was updated again in 2020. You can find flashcards with the latest Cambridge IGCSE syllabus keywords and short definitions in our revision resources. They are organised by topic, and you can use them to learn, revise, and then test how much you have learned.
However, understanding the fundamental concepts is only the first step. With more complex concepts, you may need to understand the benefits and drawbacks of each, as well as the business situations in which they are appropriate.
As an example, Consider the production methods in Unit 4.
According to the syllabus, you must understand the “features, benefits, and limitations of job, batch, and flow production.” So you know for certain that each of these key terms requires a definition.
But how many features, benefits, and limitations are required for each?
Unfortunately, no definitive answer exists. Each should have at least two benefits and two limitations.
You may also need to be tactical. The IGCSE syllabus has a lot of material to cover. It is far preferable to learn the main points of the entire syllabus rather than learning everything in a single unit.
Remember that the examiner is looking for one advantage and one disadvantage explained in context in longer questions. Consider quality rather than quantity, and what the MOST IMPORTANT benefits and limitations are.
Students frequently cite the impact on worker motivation as a flow production limitation. However, when weighed against the massive capital outlay and business expansion required to transition from batch to flow production, worker motivation becomes far less important in the business decision.
Finding Knowledge Gaps in IGCSE Business Studies
The key to effective study is to ensure that you are productive 100% of the time, learning the necessary content efficiently and effectively.
You should begin by determining what you know and what you don’t know. Then you can prioritise which parts of the curriculum you need to learn.
Setting up a traffic light system could be as simple as that. Go through the syllabus and highlight what you are confident in, what you know but aren’t sure about, and what you really don’t know.
Focus on your weakest areas first, as this is where you will see the most progress.