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1.3. Enterprise, business growth and size

Syllabus
0264–2027–2028
Topic
1.3
Level
—

1.3.1—Enterprise and entrepreneurship

  • characteristics of successful entrepreneurs
  • purpose and key elements of a business plan: overview/summary, objectives, resources, market research, marketing, finance, people, operations
  • the importance of having a business plan
  • why governments support business start-ups
  • how governments support business start-ups, e.g. grants, advice, low-cost loans, training schemes

1.3.2—The methods and problems of measuring business size

  • methods of measuring business size, e.g. number of people employed, value of output/sales, volume of output/sales, capital employed (profit is not a method of measuring business size)
  • problems when measuring business size

1.3.3—Why some businesses grow and others remain small

  • why the owners of a business may want to grow the business
  • how and why businesses can grow internally, e.g. develop new products, develop new markets
  • how and why businesses can grow externally: mergers and takeovers, including horizontal integration, vertical integration
  • advantages and disadvantages of methods of growth
  • problems linked to business growth
  • why some businesses remain small

1.3.4—Why some businesses succeed and others fail

  • reasons why businesses succeed or fail, e.g. management skills, availability of finance, suitability of product, demand for products, changes in the economy, level of competition

Objective notes

4 learning objectives
ConceptIGCSE Business Studies