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Summary Edexcel A Level Business Course Checklist
FULL COURSE CHECKLIST - EDEXCEL A LEVEL BUSINESS
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Edexcel A-Level Business ChecklistTheme 1: Marketing and People Paper 1 and Paper 3
Theme 2: Managing Business Activities Paper 2 and Paper 3
Theme 3: Business Decisions and Strategy Paper 2 and Paper 3
Theme 4: Global Business Paper 1 and Paper 3
Specification Checklist
Theme 1 ✓
The Market Mass Markets and Niche Markets: Characteristics, Market Size, Market Share,
Brands
Dynamic Markets: Online Retailing, How Markets Change, Innovation and Market
Growth, Adapting to Change
How Competition affects the Market
The Difference between Risk and Uncertainty
Market Research Product and Market Orientation
Primary and Secondary Market Research Data (Quantitative/Qualitative) used to
Identify and Anticipate Customer Needs and Wants, Quantify Likely Demand, Gain
Insight into Consumer Behaviour
Limitations of Market Research, Sample Size, Bias
Use of ICT (Information Communications Technology) to Support Market Research:
Websites, Social Networking, Databases
Market Segmentation
Market Positioning Market Mapping
Competitive Advantages of a Product or Services
The Purpose of Product Differentiation
Adding Value to Products/Services
Demand Factors leading to a Change in Demand: Changes in the Price of Substitutes and
Complementary Goods, Changes in Consumer Incomes, Fashions/Tastes and
Preferences, Advertising and Branding, Demographics, External Shocks, Seasonality
Supply Factors leading to a Change in Supply: Change in the Costs of Production,
Introduction of New Technology, Indirect Taxes, Government Subsidies, External
Shocks
Markets The Interaction of Supply and Demand
The Drawing and Interpretation of Supply and Demand Diagrams to Show the
Causes and Consequences of Price Changes
Price Elasticity of Calculation of PED
Demand (PED) Interpretation of Numerical Values of PED
The Factors Influencing PED
The Significance of PED to Businesses in terms of Implications for Pricing
Calculation and Interpretation of the Relationship between PED and Total Revenue
Income Elasticity of Calculation of IED
Demand (IED) Interpretation of Numerical Values of IED
The Factors Influencing IED
The Significance of IED to Businesses
Product/Service Design Design Mix: Function, Aesthetics, Cost
Changes in the Element of the Design Mix to Reflect Social Trends: Concern over
Resource Depletion, Waste Minimisation and Ethical Sourcing
, Branding + Promotion Types of Promotion
Types of Branding
The Benefits of Strong Branding: Added Value, Ability to charge Premium Prices,
Reduced PED
Ways to Build a Brand: Unique Selling Points (USPs)/Differentiation, Advertising,
Sponsorship, Use of Social Media
Changes in Branding and Promotion to Reflect Social Trends: Viral Marketing, Social
Media, Emotional Branding
Pricing Strategies Types of Pricing Strategy: Cost Plus Pricing, Price Skimming, Price Penetration,
Predatory Pricing, Competitive Pricing, Psychological Pricing
Factors that Determine the Most Appropriate Pricing Strategy for a Particular
Situation: Number of USPs/Amount of Differentiations, PED, Level of Competition,
Strength of Brand, Stage in the Product Life Cycle, Costs and the Need to make a
Profit
Changes in Pricing to Reflect Social Trends: Online Sales, Price Comparison Sites
Distribution Distribution Channels
Changes in Distribution to Reflect Social Trends: Online Distribution, Changing from
Product to Service
Marketing Strategy The Product Life Cycle
Extension Strategies: Product, Promotion
Boston Matrix and the Product Portfolio
Marketing Strategies Appropriate for Different Types of Market: Mass Market/Niche
Market/Business to Business, Business to Consumer Marketing
Consumer Behaviour – How Businesses Develop Customer Loyalty
Approaches to Staffing Staff as an Asset and Staff as a Cost
Flexible Workforce: Multi-Skilling, Part-Time and Temporary, Flexible Hours and
Home-Working, Outsourcing
Distinction between Dismissal and Redundancy
Employer-Employee Relationships: Individual Approach, Collective Bargaining
Recruitment, Selection Recruitment and Selection Process: Internal and External Recruitment
and Training Costs of Recruitment, Selection and Training
Types of Training: Induction, On-the-Job, Off-the-Job
Organisational Structure: Hierarchy, Chain of Command, Span of Control, Centralised/Decentralised
Structure Type of Structure: Tall, Flat and Matrix
Impact of Different Organisational Structures on Business Efficiency and Motivation
Motivation in Theory The Importance of Employee Motivation to a Business
and Practice Motivation Theories: Taylor (Scientific Management), Mayo (Human Relations
Theory), Maslow (Hierarchy of Needs) and Herzberg (2-Factor Theory)
Financial Incentives to Improve Employee Performance: Piecework, Commission,
Bonus, Profit Share and Performance-Related Pay
Non-Financial Techniques to Improve Employee Performance: Delegation,
Consultation, Empowerment, Team Working, Flexible Working, Job Enrichment, Job
Rotation and Job Enlargement
Leadership Leadership: Distinction between Management and Leadership
Types of Leadership Styles: Autocratic, Paternalistic, Democratic, Laissez-Faire
Role of an Creating and Setting up a Business
Entrepreneur Running and Expanding/Developing a Business
Innovation Within a Business
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