Business Studies

Introduction

Vision Statement: To create and deliver an enterprising and dynamic course that provide essential life skills for business minded people.

Through studying this qualification students will:

  1. Apply knowledge and understanding to different business contexts. These include businesses ranging from small enterprises to large multinationals and businesses operating in local, national and global contexts
  2. Develop an understanding of how these contexts impact on business behaviour
  3. Use business terminology to identify and explain business activity
  1. Apply business concepts to familiar and unfamiliar contexts

Other skills that will be developed will include:

  • To be able to sequence events into chronological order
  • To link customer needs by cause and consequence to the business
  • To describe this sequences in what it means to the business
  • To identify the significance of market research
  • To explain the significance of events within the narrative
  • To place the narrative into a wider context
  • Making marketing decisions
  • Understanding customer needs
  • To assess how important a customer is to a business
  • To know what market research is
  • Examine methods of primary & secondary research
  • To know the importance of data in market research
  • To recognise why businesses use market segmentation
  • To know why market mapping is essential to a businesses success
  • To understand why a business must look to the competition for strategies
  •  How market research informs businesses decisions
  • To link objectives to success
  • To identify long and short term objectives
  • To make judgements the significance of aims and objectives
  • To identify long and short term consequences
  • To make judgements about the financial considerations of a business
  • To make judgements about the significance of a lack of cash flow
  • To explain how causes act together to cause liquidity issues with a business
  • To identify overarching issues with borrowing too much money
  • To know what business operation is
  • Know the different production processes
  • To know the reason why businesses need to be productive
  • To know that most businesses want to reduce operational costs
  • To appreciate the importance of managing stock
  • To know the importance of cash to a business
  • To know the difference types of production processes
  • To recognise why cash flow forecasts are so important to inform businesses decisions
  • Know why managing quality is so important to businesses
  • To know the sales process
  • To identify differing interpretations
  • To identify supporting evidence for business interpretations.
  • To use more than one piece of evidence to support how effective a business can be
  • To give reasons for different measurements
  • To make judgements about the validity of success in a business
  • To place interpretations into a wider business context
  • To identify the need for effective marketing
  • Business calculations
  • Know about gross and net profit margins
  • Understand business performance
  • Consider what makes a business successful
  •  How we measure business success
  •  Use data effectively to arrive at justified conclusions
  • Drawing the right conclusions from data
  • Recognise the importance of benchmarking data
  • To know that data in isolation is difficult to put into context
  • To know the meaning of a stakeholder
  • To know the economic meaning of change in the external market
  • To cite examples of technological change
  • To cite examples of continuity in older businesses that do not adapt (HMV)
  • To compare the businesses that succeed and not succeed
  • To identify the significance of key economic events, individuals and institutions in causing change. E.g interest rates, govt spending etc.
  • To identify the significance of key individuals, institutions and events in manipulating the economy
  • Making human resource decisions
  • Know what centralisation and decentralisation mean
  • To discuss the merits of both
  •  Know the importance of effective communication
  •  Know the process of effective communication
  •  Understand the different types of contract
  •  Know the impact of technology on how we work
  •  Know what makes effective recruitment
  •  Understand key roles within an organisation
  •  Understand that motivation is essential in judging a businesses success

Core content for this Unit: Within this unit (Unit 1: Introduction to small Business) the students will concentrate on the key issues and skills involved in enterprise. The unit provides a framework to consider the marketing, financial, human and operational issues involved in starting and running a small business.

The unit contains five topics:

  • Enterprise and entrepreneurship (1.1)
  • Spotting a business opportunity(1.2)
  • Putting a business idea into practice (1.3)
  • Making the business effective (1.4)
  • Understanding the external influences on business (1.5)

The unit involves students using an enquiring, critical approach to distinguish facts and opinions. It also involves the building of arguments and making of informed judgements, students will develop and apply their knowledge, understanding and skills to contemporary issues in a range of local, national and global context.

Theme 2 comprises five topic areas.

  • Topic 2.1 Growing the business – students are introduced to methods of growth and how and why business aims and objectives change as businesses evolve. The impact of globalisation and the ethical and environmental questions facing businesses are explored
  • Topic 2.2 Making marketing decisions – students will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace
  • Topic 2.3 Making operational decisions – this topic focuses on meeting customer needs through the design, supply, quality and sales decisions a business makes
  • Topic 2.4 Making financial decisions – students will explore the tools a business has to support financial decision making, including ratio analysis and the use and limitation of a range of financial information
  • Topic 2.5 Making human resource decisions – growing a business means that decisions relating to organisational structure, recruitment, training and motivation

Overview of assessment: 2nd paper:

Assessment information

  • First assessment: May/June 2019
  • The assessment is 1 hour and 30 minutes
  • The assessment is out of 90 marks
  • Questions will relate to the content that appears in Theme 1 and students may draw on underpinning knowledge and understanding developed through Theme 2 as appropriate
  • The paper is divided into three sections. o Section A: 35 marks o Section B: 30 marks o Section C: 25 marks
  • Homework expectations (hours and completion standards): 1 hour a week formal homework with 30 minutes extension activities – usually an article on a topical issue to encourage independence
  • Trips and Visits: Opportunities to collaborate with languages for trips to Business related establishments
  • Out of class opportunities (Clubs): Period 6 lessons will be available for GCSE students and the opportunity for educational visits will exist for 2019-2020

How can I support my child at home? Through monitoring of Show My Homework and dialogue with the teacher through emails of telephone.