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6. Influences on business

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

Why do businesses act ethically and protect the environment, and what does it cost them?

Ethical and environmental considerations: what is meant by ethical behaviour, examples of ethical and unethical practice, why businesses act ethically, how business activity affects the environment, sustainability, and the impact of both on a business.
A focused answer to OCR GCSE Business J204 topic 6.1, covering ethical and unethical business behaviour, why businesses act ethically, the environmental impact of business activity, sustainability, and the effect of both on costs and reputation.
11 min answer →

How does the growth of global trade change the opportunities and threats a business faces?

Globalisation: the concept of globalisation, the growth of multinational companies, how globalisation influences business location, international branding and how businesses compete internationally, and the opportunities and threats globalisation brings.
A focused answer to OCR GCSE Business J204 topic 6.3, covering the concept of globalisation, multinational companies, the effect on business location, international branding, how businesses compete internationally, and the opportunities and threats it brings.
11 min answer →

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

The impact of legislation on businesses: the main areas of law affecting businesses (consumer law, employment law, health and safety law), the effect of legislation on costs and demand, and the consequences of failing to comply.
A focused answer to OCR GCSE Business J204 topic 6.4, covering consumer law, employment law and health and safety law, how legislation affects a business's costs and demand, and the consequences of not complying.
11 min answer →

How do the different groups with an interest in a business shape the decisions it makes?

Stakeholders and their influence: who a business's stakeholders are, their differing objectives, how stakeholders influence business decisions, the conflicts that arise between them, and how a business manages competing stakeholder interests.
A focused answer to the OCR GCSE Business J204 treatment of stakeholders as an influence, covering who the stakeholders are, their differing objectives, how they influence decisions, the conflicts between them, and how a business balances competing interests.
11 min answer →

How does new technology change the way a business operates and competes?

Technology and business: the role of technology as an external influence, e-commerce and digital communication, automation in production, social media and digital marketing, and the benefits and drawbacks of technology for a business.
A focused answer to the OCR GCSE Business J204 treatment of technology as an influence, covering e-commerce, digital communication, automation, social media and digital marketing, and the benefits and drawbacks of technology for a business.
11 min answer →

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

The economic climate: the effect of changing consumer income and unemployment, interest rates, inflation and exchange rates on businesses, and how a business is affected by and responds to changes in the economic climate.
A focused answer to OCR GCSE Business J204 topic 6.2, covering how consumer income, unemployment, interest rates, inflation and exchange rates affect a business, and how businesses respond to changes in the economic climate.
12 min answer →