Wales Β· WJECSyllabus
Business syllabus, dot point by dot point
Every dot point in the Wales Businesssyllabus, with a focused answer for each one. Click any dot point for a worked explainer, past exam questions, and links to related dot points. Written by Claude Opus 4.8, Anthropic's latest AI.
Business Analysis and Strategy (A2 Unit 3)
Module overview β- How do businesses set objectives and develop strategy using tools like SWOT, the Ansoff Matrix and Porter's Five Forces?Business objectives and strategy: corporate aims and objectives, SWOT analysis, the Ansoff Matrix, and Porter's Five Forces, and how these inform strategic decisions.14 min answer β
- How do businesses analyse market data, and how does price elasticity of demand inform pricing decisions?Data and market analysis: interpreting business and market data, and price elasticity of demand and income elasticity of demand, including their calculation and use in decision making.13 min answer β
- How do businesses use quantitative models like decision trees, critical path analysis and cost-benefit analysis to make decisions?Decision-making models: decision trees and expected values, critical path analysis (CPA), and cost-benefit analysis, including their construction, use and limitations.14 min answer β
- How do businesses analyse their financial accounts using budgets, variances and ratios?Financial analysis: budgets and variance analysis, the balance sheet and income statement, and ratio analysis of profitability, liquidity and efficiency.14 min answer β
- How do businesses grow, and what are the methods and consequences of expansion?Growth and methods of expansion: organic and external growth (mergers and takeovers), franchising, outsourcing, and rationalisation, with their benefits and drawbacks.13 min answer β
- How do businesses decide whether an investment is worthwhile using payback, ARR and net present value?Investment appraisal: the payback period, the average rate of return (ARR), and net present value (NPV) using discounted cash flow, with their calculation, use and limitations.14 min answer β
- How do businesses forecast future sales using past data and identify trends?Sales forecasting and time-series analysis: moving averages, identifying the trend, seasonal and cyclical variation, and the uses and limitations of extrapolation.13 min answer β
- How does a business decide whether to accept a one-off special order at a price below normal?Special order decisions: using contribution per unit to decide whether to accept a special order, including the relevant costs and the qualitative factors involved.12 min answer β
Business Functions (AS Unit 2)
Module overview β- How does a business plan and control its finances, and how is profit measured and analysed?Finance and financial planning: cash-flow forecasting, budgeting and variance, the income statement, and profitability ratios (gross profit margin and net profit margin).13 min answer β
- How does a business recruit, train, motivate and lead its people, and manage relations with them?Human resources: workforce planning, recruitment and selection, training, theories of motivation, leadership styles, and employer-employee relations.13 min answer β
- How does a business market its products, and how do the elements of the marketing mix work together?Marketing and the marketing mix: the 4Ps (product, price, place, promotion), digital marketing, the product life cycle and extension strategies, and the Boston Matrix for managing a product portfolio.13 min answer β
- How does a business produce its goods and services efficiently while maintaining quality?Operations management: methods of production, productivity, capacity utilisation, lean production, stock control, and quality assurance and control.13 min answer β
- Why do businesses invest in research and innovation, and how does growing larger affect their costs?Research and development, innovation, and economies of scale: the role and benefits of R&D and innovation, and internal and external economies and diseconomies of scale.12 min answer β
Business in a Changing World (A2 Unit 4)
Module overview β- What causes change in business, and how do firms manage it and overcome resistance?Causes, effects and management of change: internal and external causes of change, the effects on a business, managing change, and overcoming resistance to change.13 min answer β
- How do international trade, globalisation and multinationals shape business?International trade, globalisation and multinationals: the reasons for and effects of international trade and globalisation, the role and impact of multinational corporations, and trade barriers and exchange rates.13 min answer β
- How do legal, ethical and environmental factors affect business decisions and behaviour?Legal, ethical and environmental factors: the main areas of business law, business ethics and corporate social responsibility, and environmental responsibility and sustainability.13 min answer β
- How do political, economic, social and technological factors in the external environment affect a business?PEST analysis: the political, economic, social and technological factors of the external environment, their effects on business, and the use of PEST to analyse opportunities and threats.13 min answer β
- How do businesses identify, assess and plan for risks and crises?Risk management and contingency planning: identifying and assessing risks, the purpose and contents of contingency plans, and the benefits and limitations of planning for the unexpected.12 min answer β
- How does the European Union and the UK's trading relationship with it affect British business?The European Union and impacts on UK business: the single market and trading blocs, the effects of EU membership and of leaving on UK firms, and the implications of changing trade arrangements.13 min answer β
Business Opportunities (AS Unit 1)
Module overview β- How does a new business choose where to locate, and how does it raise the finance it needs?Business location and finance: the factors influencing location decisions, and the internal and external sources of finance available to a new business, including their costs and suitability.13 min answer β
- Why do entrepreneurs write a business plan, and where do they get help and advice?Business plans and sources of guidance: the purpose and contents of a business plan, its benefits and limitations, and the sources of advice and support available to a new business.12 min answer β
- What legal structures can a business take, and how does the choice affect liability, control and finance?Business structures: sole traders, partnerships, private and public limited companies, and not-for-profit organisations, including limited and unlimited liability and the implications for ownership, control and finance.12 min answer β
- What is enterprise, and what do entrepreneurs do to spot and exploit business opportunities?Enterprise and entrepreneurs: the role and characteristics of entrepreneurs, the functions of enterprise, motives for starting a business, and the risks and rewards involved.12 min answer β
- How do businesses gather and use information about their market, and how do they choose a representative sample?Market research methods and sampling: primary and secondary research, quantitative and qualitative data, the main methods and their costs and reliability, and sampling methods including random, quota and stratified sampling.12 min answer β
- How does a business work out its revenue, costs and profit, and at what level of output does it break even?Revenue, costs, break-even and contribution: fixed and variable costs, total revenue and total cost, the calculation and interpretation of break-even output and the margin of safety, and contribution per unit.13 min answer β
- What are the different types of market, and how do businesses divide a market into segments?Types of markets and market segmentation: mass and niche markets, local to global markets, consumer and industrial markets, the bases of segmentation, and the concept of market size, growth and share.12 min answer β