← Business syllabus

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1. Business activity

6 dot points across 6 inquiry questions. Click any dot point for a focused answer with worked past exam questions where available.

What do businesses aim to achieve, and how do those goals change?

Business aims and objectives: the difference between aims and objectives, financial and non-financial objectives, why objectives differ between businesses and change over time, and the use of SMART objectives.
A focused answer to OCR GCSE Business J204 topic 1.4, covering the difference between aims and objectives, financial and non-financial objectives, SMART objectives, and why objectives differ and change.
9 min answer →

How do businesses grow, and why might they choose to stay small?

Business growth: the difference between internal (organic) and external (inorganic) growth, methods of growth including mergers and takeovers, the benefits and drawbacks of growth, economies of scale, and reasons some businesses remain small.
A focused answer to OCR GCSE Business J204 topic 1.6, covering internal and external growth, mergers and takeovers, economies of scale, the benefits and drawbacks of growth, and why some businesses stay small.
11 min answer →

Which legal form should a business take, and what difference does it make?

Business ownership: the features, advantages and disadvantages of sole traders, partnerships, private limited companies (Ltd) and public limited companies (plc), the meaning of limited and unlimited liability, and the not-for-profit sector.
A focused answer to OCR GCSE Business J204 topic 1.3, covering sole traders, partnerships, private and public limited companies, limited versus unlimited liability, and not-for-profit organisations.
11 min answer →

What goes into a business plan, and why does it matter?

Business planning: the purpose and content of a business plan, the benefits and drawbacks of planning, and how a plan supports raising finance and reducing risk.
A focused answer to OCR GCSE Business J204 topic 1.2, covering the purpose and content of a business plan, its benefits and drawbacks, and how it helps a business raise finance and reduce risk.
9 min answer →

Who has an interest in a business, and what happens when their interests clash?

Stakeholders in business: the main internal and external stakeholders, their objectives and influence, how stakeholder interests can conflict, and how businesses manage these relationships.
A focused answer to OCR GCSE Business J204 topic 1.5, covering the main internal and external stakeholders, their objectives, stakeholder conflict, and how businesses manage stakeholder relationships.
9 min answer →

Why do people start businesses, and what does an entrepreneur actually do?

The role of business enterprise and entrepreneurship: the purpose of business activity, the role of the entrepreneur, the characteristics and skills of entrepreneurs, the concept of risk and reward, and why businesses add value to bought-in goods and services.
A focused answer to OCR GCSE Business J204 topic 1.1, covering the purpose of business activity, the role and characteristics of the entrepreneur, risk and reward, and how businesses add value.
10 min answer →