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IGCSE Business Assessment Objectives Explained

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The four assessment objectives for Cambridge International Examinations (CIE) Business IGCSE explained. We see real examples from CIE IGCSE exams, and learn how to maximise your marks in each of the assessment criteria by perfecting your exam technique.

Eddie B / Dubai

10 years of teaching experience

Qualification: Post Graduate Certificate in Education, BSSc Social Studies 2.1, Queen's University Belfast

Teaches: Business Studies

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  1. Assessment Objective A04— Assessment Objective A03 Assessment Objective A02 Assessment Objective AOI Evaluation Analysis Application Knowledge and Understanding 40% of final mark O 800/0 700/0 600/0 500/0 300/0 200/0 I OYO
  2. Assessment Objective AOI 40% of final mark Knowledge and Understanding (facts or knowing stuff) (a) (b) Define ocial enterprise'. Business with social objectives and not just aiming to make a profit. 12] Identify wo functions of management Function 1: Cpmmandjng. Function 2' Organising 121 •3
  3. Assessment Objective Knowledge and Understanding aka (facts or knowing stuff) AOI (d) Explain two possible reasons why it might be difficult for ReBag to get a bank loan- Low Revenue Reason Explanatiom Reason 2: Explanatiom Limited Experience
  4. Assessment Objective A02 3 Application (Using relevant information about the business in your answer) ReBag is a social enterprise- in four small towns in different pans of the country- They work from home pieces of old fabric (cloth). tarted the business three years ago using micro-finance- Last year ReBag's revenue was sha said: 'C)ur people in five more towns. Getting a bank loan to expand the business will be a problem. What will I do about management? How will I inform workers about possible expansion?' (d) Explain two possible reasons why it might be difficult or ReBag o get a bank loan. Low Revenue Reason only $700 Explanation: E rebenbion i impacb managemet o örüiby co onbe&; breabm sbrabegy research plah resources
  5. Assessment Objective A02 3 Application (Using relevant information about the business in your answer) ReBag is a social enterprise- ReBag employs 30 people in four small towns in different pans of the country They work from home and make a range of bags from pieces of old fabric (cloth). Asha started the business three ears a o sing micro-finance Last year ReBag's revenue was $700- Asha said: Our external stakeholders want ReBag to employ people in five more towns. Getting a bank loan to expand the business will be a problem. What will I do about management? How will I inform workers about possible expansion?' (d) Explain two possible reasons why it might be difficult for ReBag to get a bank loan- Limited experience Reason 2 Only three years Explanatiom * E rebenblon assesgnent o —nsl( impacb managemert o örüiby co onbe breabm plaii resources sbrabegy research mportanb _ evaluati
  6. Assessment Objective A03 3 Analysis (explaining what impact this will have on the business) ReBag is a social enterprise- ReBag employs 30 people in four small towns in different pads of the country. 'They work from home and make a range of bags from pieces of old fabric (cloth). Asha started the business three years ago using micro-finance- Last year ReBag's revenue was $700- Asha said: lour external stakeholders want ReBag to employ people in five more towns. Getting a bank loan to expand the business will be a problem. What will I do about management? How will I inform workers about possible expansion?' (d) Explain two possible reasons why it might be difficult for ReBag to get a bank loan. Reason ..Low.Reven.ue.... only $700 Explanation: so can they afford to repay?
  7. Assessment Objective A03 3 Analysis (explaining what impact this will have on the business) ReBag is a social enterprise- ReBag employs 30 people in four small towns in different pads of the country. 'They work from home and make a range of bags from pieces of old fabric (cloth). Asha started the business three years ago using micro-finance- Last year ReBag's revenue was $700- Asha said: lour external stakeholders want ReBag to employ people in five more towns. Getting a bank loan to expand the business will be a problem. What will I do about management? How will I inform workers about possible expansion?' (d) Explain two possible reasons why it might be difficult for ReBag to get a bank loan. Reason2 Limited.exper.ience..- Only 3 years Explanation: so no guarantee the business will last.
  8. Assessment Objective A04 Evaluation (making a choice and justifying your choice) (e) Explain two possible methods of internal communication that a small business could use to inform workers about a possible expansion- Justify which method should be chosen. Meeting — so Asha will be able to interact with the workers to find out their opinions Email — so workers will have a chance to consider the information in their own time eetin As the workers are based in many different places Asha will be able to communicate clearly with more employees via email rather than a meeting — which many of the employees may not be able to attend.
  9. Assessment Objective AOI Knowledge and Understanding (facts) Question words Example State, identify, calculate, "what is meant by" Define the term "opportunity cost". Top Tip — learn each of the key terms on the syllabus. This is the essential foundation for success! Profit= total revenue — total costs Employees are more motivated
  10. Assessment Objective A02 Application (putting the business knowledge in context) Question words If question refers to a specific business, you must APPLY your answer to that business "Should DelaRosa Sports introduce flow production ?" Top Tip Application words are UNIQUE to this case study and couldn't be applied to every other question Example There is a growing demand for trainers and they have only 125 factory operators and two designers Think about: What kind of business is it? What is the business size? Is it profitable? What are the business objectives? Who are the competitors? How can your business gain a competitive advantage What is the economic/market environment? What opportunities/threats are there to the business and how can they take advantage of them ? E rebenbion assesgnent o —ngl( impact management o örüiby co onbe orgmi breabm plaii resources sbrabegy research cons liporbanb _ evaluat
  11. Assessment Objective A03 Analysis (explaining what impact the knowledge will have on the business) AN Question words Explain Analyse "Identify and explain two benefits of flow production" TOP TIP Use sentences starter to help EXPLAIN a knowledge point This means that This will lead to This will have a positive impact because Example This means they can have lower unit costs which will lead to a higher profit margin for each item they sell. This will have a positive impact on the business as they can use the profit to expand ANALYSIS
  12. Assessment Objective A04 Evaluation (after considering the BENEFITS and LIMITATIONS of a business decision, making a JUDGE-MENT as to what is most important for the business in question.) Question words Justify Evaluate Recommend Do you think C&C should employ only full time employees in their business? Justify your answer. Top Tip You must show why choosing one option is more beneficial than the other option. Example IN MY JUDGMENT although full time employees may be more motivated, the most crucial factor in C&Cs success is keeping overhead costs low as demand for concert tickets changes often so full time employees will not be the most cost effeqtive option. BAD OOD EUflLUflTlOn
  13. Assessment overview All candidates take two papers- All candidates take: Paper 1 1 hour 30 minutes and: Paper 2 Case Study 80 marks 1 hour 30 minutes Short Answer and Data Response 80 marks Four questions requiring a mixture of short answers and structured data responses Candidates answer all questions Externally assessed Four questions based on a case study, provided as an insert with the paper Candidates answer all questions Extemally assessed
  14. Assessment objectives The assessment objectives (AOs) are: AOI Knowledge and understanding demonstrate knowledge and understanding of facts, terms, concepts, conventions, theories and techniques commonly applied to or used as part of business behaviour- A02 Application apply knowledge and understanding of facts, terms, concepts, conventions, theories and techniques. A03 Analysis distinguish between evidence and opinion in a business context order, analyse and interpret information in narrative, numerical and graphical forms, using appropriate techniques. A04 Evaluation present reasoned explanations, develop arguments understand implications and draw inferences make judgements, recommendations and decisions.

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