A-level Business_{DRAFT 7138}

Students of this course should study business in a variety of contexts (eg large/small, UK-focused/global, service/manufacturing) and consider:

• the importance of the context of business in relation to decision-making
• the interrelated nature of business activities and how they affect competitiveness
• the competitive environment and the markets in which businesses operate
• the influences on functional decisions and plans including ethical and environmental issues
• the factors that might determine whether a decision is successful eg the quality of data and the degree of uncertainty
• how technology is changing the way decisions are made and how businesses operate and compete
• the impact on stakeholders of business decisions and their response to such decisions
• use of non-quantitative and quantitative data in decision-making (including the interpretation of index numbers and calculations such as ratios and percentages). See Annex: quantitative skills in business

Strategic decision-making (A-level only)

The study of strategic decision-making should build on the study of decision-making in the functional areas.

Students should consider:

• the influences of Environmental, Social and Governance (ESG), Corporate Social Responsibility, ethical and environmental issues on strategic decisions
• the impact of technological change on strategic decision-making
• the actions of stakeholders and the impact of those actions on strategic decisions
• the difficulties in forecasting future trends
• the importance of assessing feasibility and risk when making strategic decisions

The topics lend themselves to studying and engaging with the business world. The specification and assessment should encourage students to follow business developments and think critically about contemporary business issues. The assessment material is based on real business situations. By examining and thinking critically about real business situations as they study the subject, students will gain an insight into different contexts which will help them to understand the key issues in any situation and compare and contrast this with other situations and apply their understanding.

• •3.1 Focus: What is business, managing marketing and finance
• •3.2 Focus: Managing operations and people
• •3.3 Focus: Business and society, business and the external environment, and business strategy (A-level only)