Unit 1 comprises of understanding different business structures, characteristics and roles of an entrepreneur, analyzing the market of a product (market positioning and product trials), ways of funding a business and the various external influences a business must take into account on a daily basis. Unit 2 focuses mainly on how a business adapts its products to changes in consumers’ tastes, different methods of managing business operations and Human Resource management techniques. Unit 1 and Unit 2 are the easiest units of Business Studies. A sound common sense of the business world is enough to ensure good marks in these two units. Unit 3 delves into the topics of Unit 2 and provides a better understanding of the corporate world. It includes corporate culture, objectives, strategies and decision and tactical making tools such as Decision Making trees, Investment Appraisal etc. Types and effects of growth are also components of Unit 3. The last unit, Unit 4, is a paradise for Economics students. Almost everything here has already been covered in Unit 2 and 4 of A level Economics. It constitutes of understanding the reasons behind increased globalization, factors a business takes into consideration before operating in a foreign market and protectionism. The trickiest part of Unit 4 is comprehending the strategies a business might adopt when operating in international markets.
“Business Studies Fourth Edition by Dave Hall” is the only book worth reading. Even though it includes a lot of irrelevant topics, it provides a clear understanding of the business world. Therefore in order to make full use of the book, it is mandatory that you use the IAL Business Studies specification to sift through the unnecessary things. Knowing how to present your answer is fundamental. Hence, going through mark schemes and examiners reports would give a clear picture on how to answer properly. Practice, practice and practice your answering style. There would be nothing stopping you from achieving your preferred grade if you have the proper answering method under your belt!
|Information||Unit 1||Unit 2||Unit 3||Unit 4|
|Exam Duration||1.5 hours||1.5 hours||2 hours||2 hours|
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