← Business syllabus

EnglandBusiness

1.5 Understanding external influences on business

4 dot points across 4 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

Who has an interest in a business, and how can their objectives conflict?

Who business stakeholders are (shareholders, employees, customers, managers, suppliers, local community, pressure groups, government) and their different objectives; how stakeholders are affected by and impact business activity; and possible conflicts between stakeholder groups.
A focused answer to Edexcel GCSE Business 1.5.1, covering who business stakeholders are and their objectives, how they are affected by and influence business activity, and the conflicts that can arise between stakeholder groups.
7 min answer →

What laws must a business follow, and what happens if it does not?

The purpose of legislation: the principles of consumer law (quality and consumer rights) and employment law (recruitment, pay, discrimination, health and safety); and the impact of legislation on businesses in terms of cost and the consequences of meeting and not meeting these obligations.
A focused answer to Edexcel GCSE Business 1.5.3, covering the purpose of consumer law (quality and rights) and employment law (recruitment, pay, discrimination, health and safety), and the impact of legislation on costs and the consequences of compliance and non-compliance.
7 min answer →

How does technology change the way a business sells, spends and markets?

Different types of technology used by business (e-commerce, social media, digital communication, payment systems) and how technology influences business activity in terms of sales, costs and the marketing mix; and how businesses respond to changes in technology.
A focused answer to Edexcel GCSE Business 1.5.2, covering the types of technology businesses use (e-commerce, social media, digital communication, payment systems) and how technology influences sales, costs and the marketing mix, and how businesses respond.
7 min answer →

How do interest rates, unemployment, inflation and exchange rates affect a business?

The impact of the economic climate on businesses: unemployment, changing levels of consumer income, inflation, changes in interest rates, government taxation, and changes in exchange rates; and how businesses respond to these changes.
A focused answer to Edexcel GCSE Business 1.5.4, covering how the economic climate affects businesses through unemployment, consumer income, inflation, interest rates, taxation and exchange rates, and how businesses respond.
8 min answer →