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    BUSINESS STUDIES and ENTERPRISE Similarities and Differences

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    taona madanhire
    The document summarizes the similarities and differences between IGCSE Business Studies and IGCSE Enterprise. [1] Both courses cover similar topics such as business structures, finance, marketing, and external influences. [2] They also assess the application of concepts to business scenarios, analysis of options, and evaluation of recommendations. [3] However, Business Studies focuses more on accounting and international business, while Enterprise emphasizes entrepreneurship skills like risk assessment, business planning, and self-evaluation.

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    BUSINESS STUDIES and ENTERPRISE Similarities and Differences

    Uploaded by

    taona madanhire
    36 views2 pages
    The document summarizes the similarities and differences between IGCSE Business Studies and IGCSE Enterprise. [1] Both courses cover similar topics such as business structures, finance, marketing, and external influences. [2] They also assess the application of concepts to business scenarios, analysis of options, and evaluation of recommendations. [3] However, Business Studies focuses more on accounting and international business, while Enterprise emphasizes entrepreneurship skills like risk assessment, business planning, and self-evaluation.

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    BUSINESS STUDIES and ENTERPRISE similarities and differences

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    The document summarizes the similarities and differences between IGCSE Business Studies and IGCSE Enterprise. [1] Both courses cover similar topics such as business structures, finance, marketing, and external influences. [2] They also assess the application of concepts to business scenarios, analysis of options, and evaluation of recommendations. [3] However, Business Studies focuses more on accounting and international business, while Enterprise emphasizes entrepreneurship skills like risk assessment, business planning, and self-evaluation.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    36 views2 pages

    BUSINESS STUDIES and ENTERPRISE Similarities and Differences

    Uploaded by

    taona madanhire
    The document summarizes the similarities and differences between IGCSE Business Studies and IGCSE Enterprise. [1] Both courses cover similar topics such as business structures, finance, marketing, and external influences. [2] They also assess the application of concepts to business scenarios, analysis of options, and evaluation of recommendations. [3] However, Business Studies focuses more on accounting and international business, while Enterprise emphasizes entrepreneurship skills like risk assessment, business planning, and self-evaluation.

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    © All Rights Reserved
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    of 2

    SIMILARITIES AND DIFFERENCES BETWEEN

    IGCSE BUSINESS STUDIES (0450) AND IGCSE ENTERPRISE (0454)

    Similarities

    1. Skills developed & examined in Business Studies and Enterprise

    Knowledge & understanding of concepts & theories. Application of concepts & theories to business scenarios.
    Analysis of options in context of the scenario using concepts & theories. Evaluation of options in context of the scenario.

    2. Topics covered in both

    Types of business structures Business objectives and stakeholder objectives


    Finance & Budgeting Marketing
    Costs, scale of production, break-even Organisational structure
    Understanding accounts – income statement, balance sheet, cash flow forecasting
    Employment contracts; workers' and employers' rights. Effective communication
    Legal issues pertaining to employment, marketing, customer protection Marketing
    What it means to be an entrepreneur External influences on business activity
    Importance of a business plan

    3. Assessment

    In exams for both Business Studies and Enterprise, you apply your knowledge to the business in question and analyse
    the advantages and disadvantages of options before recommending what the best thing is for the business to do and why
    i.e. evaluating the options.

    Differences
    1. Topics covered

    Business Studies Enterprise

    Leadership and management Ways of being enterprising


    Motivation Assessing & taking risks
    Recruitment, selection & training Negotiation
    Quality in production Meetings
    Lean Production Drawing up a business plan
    Location decisions Evaluation of own performance
    Analysis of accounts
    Business in the international context

    2. Assessment

    Business Studies Enterprise

    2 x Exams Each is 1 hour 30 minutes. 1 x Exam


    Both are based on UNSEEN case studies. Based on a PRE-SEEN case study
    1 x Coursework portfolio - You choose, plan, run
    and evaluate your own enterprise.
    The portfolio comprises 4 tasks – investigating
    business ideas; planning your enterprise;
    implementing your project; evaluating your
    project.
    Why study Business and/or related subjects?
     “About 80% of world leaders are university educated, with business and
    management, economics and law being the most popular subjects.” Source:
    bbc.com/news/world

     Business relates to everything we do. For example, doctors / lawyers / engineers /


    artists need to pay tax, employ people and make a living!

     Top universities around the globe such as M.I.T, Harvard and Cambridge amongst
    others, stress the importance of enterprise in today’s world and have dedicated
    entrepreneurship centres which work in collaboration with all departments.

     The majority of university students globally study Business or related degrees. It


    makes sense to have a background in it!

    Are either Business Studies or Enterprise for you?

    Yes, if you:
     Enjoy considering advantages and disadvantages of options before making a
    decision, and then justifying your decision.
     Enjoy discussing 'real world' issues.
     Have an interest in business, economics and the world in which you live.
     Wish to take an active role in the business that you hope to work for.
     Are thinking of owning your own business one day.

    Is Business Studies for you?


    Yes, if you:
    1. Can communicate well in written form;
    2. Are pretty good at maths.

    Is Enterprise for you?


    Yes, if you:
    1. Can communicate well verbally, in written form and in giving presentations;
    2. Are pro-active, independent, and like to make your own decisions;
    3. Are self-motivated;
    4. Are committed to what you start and enjoy seeing the rewards of your own
    personal endeavour.

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