BUSINESS
Department Vision
Business activity is a feature of everyone’s life. As consumers, employees, savers and investors, people throughout the world engage in a web of business activities to design, produce, market, deliver and support a range of goods and services.
Students completing this course will develop general and specific skills including research, analysis, problem-solving, decision making, critical thinking and communication. These skills enhance your confidence and ability to participate effectively, not only as members of the business world, but as informed citizens dealing with issues emanating from business activity that impact on your lives.
Business Studies fosters intellectual, social and moral development by assisting students to think critically about the ethical responsibilities to society, as it provides useful knowledge and skills for life.
This is a wide ranging course containing a number of elements which are taught in modular form but which are also integrated through the use of case studies. Frequent reference is made to live business stories and the department makes extensive use of current affairs to support student learning. Students are taught business theory in order to solve business problems e.g. financing expansion abroad, strategies for cutting work forces etc.
Years 10 & 11
Year 10
| Topic | Learning Outcomes | |
| Term 1 | Enterprise and Entrepreneurship | Why and how new business ideas come about? The impact of risk and reward on business activity The role and purpose of enterprise/entrepreneurship |
| Term 2 | Spotting a business opportunity | Identifying and understanding customer needs. The purpose of market research/methods of market research How a business can use market segmentation Understanding the competitive environment |
| Term 3 | Putting a business idea into practice | What business aims and objectives are? Understanding and using business calculations The importance of cash to a business Sources of finance for a start up business |
| Term 4 | Making the business effective | Understanding the concept of limited liability Factors influencing business location What is the marketing mix and the importance of it to a business The role and importance of a business plan |
| Term 5 | Understanding external influences on business | Who business stakeholders are and their different objectives Technology and business The purpose and impact of business legislation The impact of the economy on business The importance of external influences on business |
| Term 6 | Growing a business | Methods of business growth Types of business ownership Sources of finance for a growing business Why aims and objectives change over time Impact of globalisation International trade Business ethics |
Year 11
| Topic | Learning Outcomes | |
| Term 1 | Making marketing derisions | Understanding the elements of the marketing mix Product (design mix, product life cycle) Price (Pricing strategies) Place (methods of distribution) Promotion (methods of promotion) How each element of the of the marketing mix can influence each other |
| Term 2 | Making operational decisions | The purpose of business operations Understanding the differing production processes Impact of technology on production Managing stock The role of procurement The concepts of quality and its importance The sales process |
| Term 3 | Making financial decisions | The concept and calculation of – gross, net profit Calculation and interpretation of – gross profit margin, net profit margin, average rate of return The use and limitation of financial data |
| Term 4 | Making human resource decisions | Understanding differing organisational structures The importance of communication Different ways of working How business recruit How businesses train and develop employees The importance of motivation in the workplace |
| Term 5 | Revision and Exam Prep | Preparation for the 2 exams |
| Term 6 | Exam season |
Post 16 at WG6
Year 12 Theme 1
| Topic | Learning Outcomes | |
| Term 1 | Meeting customer needs The market: Market research Market positioning | Mass and niche markets Dynamic markets How competition affect the market The difference between risk and uncertainty Product and market orientation Types of market research Limitations of market research Market mapping Competitive advantage Product differentiation Adding value |
| Term 2 | Entrepreneurs and leaders The market (economic concpets) | The role of an entrepreneur Characteristics and motives of an entrepreneur Business objectives Forms of business – Sole trader, LTD, PLC etc.. Supply and demand Price elasticity of demand Income elasticity of demand |
| Term 3 | Marketing Product Price Promotion Distribution Marketing Strategy | How are products designed Types of promotion How to build a brand Pricing strategies Distribution methods for a business How do social trends influence the marketing mix Importance of a product portfolio |
| Term 4 | Managing people | Approaches to staffing Recruitment training and selection Organisational design Method of motivations, importance of motivation Leadership styles |
| Term 5 | Business choices Moving from an entrepreneur to a leader | Opportunity cost for business decision Trade offs for a business Difficulty in transitioning from an entrepreneur to a leader |
| Term 6 | Exam Question technique Introduction to Y13 content | Focusing on question and paragraph structure for each type of exam question What is globalisation? Highlight the Impact of this on Multinational corporations |
Year 12 Theme 2
| Topic | Learning Outcomes | |
| Term 1 | Raising finance | Sources of finance (internal and external) for small, medium and multinational businesses Importance of liability for a business Understanding the importance Business planning How to manage Cash flow |
| Term 2 | Financial planning | Understanding Break-even charts, importance to a business of breakeven How to understand Sales forecasting The importance of Budgeting |
| Term 3 | Managing finance | Financial statements How to calculate Profit and profit margins. Liquidity Business failure |
| Term 4 | Resource management | Production, productivity and efficiency Capacity utilisation Stock control Ratios Quality management |
| Term 5 | External influences | Economic influences on a business Legislation and its impact on a business The competitive environment |
| Term 6 | Exam technique Case study analysis 6Calculation practice | Focusing on question and paragraph structure for each type of exam question Be able to read a case study and improve the way we apply theoretical concepts to the information provided. Build confidence and consolidate our knowledge on the key calculations |
Y13 Theme 3
| Topic | Learning Outcomes | |
| Term 1 | Business objectives and strategy | What are Corporate objectives Theories of corporate strategy The external environment and its impact on business |
| Term 2 | Business growth | Types of organic growth Types of inorganic growth Reasons for a business to stay small |
| Term 3 | Decision making techniques | The importance of quantitative sales forecasting for a business How to construct and understand Decision trees How to calculate and understand Investment appraisal How to understand and interpret Critical path analysis |
| Term 4 | Influences on business decisions Assessing competitiveness | What is Corporate culture Stakeholder versus shareholder approach Understanding business ethics and CSR – impact on a business Interpretation of financial statements and uses Understanding Ratio analysis The use of Human resources strategies in a business |
| Term 5 | Managing change | Causes and effects of change on a business The importance of scenario planning for a business |
| Term 6 | Exam technique Students to sit external exams Papers 1-3 | Focusing on question and paragraph structure for each type of exam question |
Y13 Theme 4
| Topic | Learning Outcomes | ||||
| Term 1 | Business objectives and strategy | What are Corporate objectives Theories of corporate strategy The external environment and its impact on business | |||
| Term 2 | Business growth | Types of organic growth Types of inorganic growth Reasons for a business to stay small | |||
| Term 3 | Decision making techniques | The importance of quantitative sales forecasting for a business How to construct and understand Decision trees How to calculate and understand Investment appraisal How to understand and interpret Critical path analysis | |||
| Term 4 | Influences on business decisions Assessing competitiveness | What is Corporate culture Stakeholder versus shareholder approach Understanding business ethics and CSR – impact on a business Interpretation of financial statements and uses Understanding Ratio analysis The use of Human resources strategies in a business | |||
| Term 5 | Managing change | Causes and effects of change on a business The importance of scenario planning for a business | |||
| Term 6 | Exam technique Students to sit external exams | Focusing on question and paragraph structure for each type of exam question. Ensure students are confident with paragraph and question structure. | |||
| Topic | Learning Outcomes | ||||
| Term 1 | Globalisation | What are growing economies? Impact upon a business? Benefits and drawback of international trade on a business due to globalisation Factors contributing to increased globalisation Impact of protectionism on a business Understand the differing types of trade blocs/agreements and their impact on a business The reasons for global mergers and joint ventures The impact on a business of global competitiveness | |||
| Term 2 | Global markets and business | Be able to assess the condition that prompt trade in differing countries Be able to assess a country as a potential market Be able to assess a country as potential production location | |||
| Term 3 | Global Marketing | Understand the differing marketing approaches a business may use in difference countries/cultures Understand what a global niche market is and how a marketing mix need to be adapted to suit this. Understand and the social/cultural factors that will influence a business decision | |||
| Term 4 | Global industries and companies (multinational corporations) | The impact Multinational corporations have on society The impact business ethic can have on business decisions Evaluate how government may look to control the behaviour of multinational corporations | |||
| Term 5 | Case study practice Re-cap core areas of theme 1 and 4 | Improve the student’s ability to apply theoretical concepts to given case studies. Build the students confidence on the core concepts of the 1, consolidating knowledge and understanding of them | |||
| Term 6 | External exams- Students will sit papers 1-3 | Final preparations for external exams. Ensure students are confident with paragraph and question structure. | |||
