Business and ICT

Business Studies is a Guided Destination at Key Stage 4. The aim of GCSE Business Studies is to develop students understanding of how a range of businesses operate. The course explores the key factors that determine the success of a business including effective ownership structures, people management, financial management, marketing, production and manages external influences.

Key Stage 4

What will my child learn in Business Studies?

Marketing Research

Students will develop knowledge and understanding of market research methods including the use of market segmentation. Students will also be able to undertake a SWOT analysis for a marketing scenario.

The Marketing Mix

Students will understand the elements of the marketing mix and be able to formulate an effective marketing strategy.

Marketing in the Wider Business Environment

Candidates will understand the importance of e-commerce and how franchising can support the marketing of the business. They will understand the importance of customer service for new and existing customers.

Enterprise and The Entrepreneur

Candidates will show an understanding of the role of an entrepreneur and the nature of rewards and risk taking. They will understand how the government can support enterprise and the factors that impact on the success or failure of a business.

The Business Plan

Students will understand the need for business planning and be able to construct a simple business plan.

The Need for Business Activity

Students will investigate why businesses exist, their aims and objective and how these evolve over time. They will also demonstrate understanding of industrial sectors and their interdependence.

The Workforce in Business

Students will investigate the recruitment and selection process within an organisation, explore how to effectively motivate and train employees. They will also develop an understanding of employment protection and employment law.

Business Ownership, Trading Organisations, Growth and Location

Students will investigate the main types of ownership structure including sole traders, partnerships and limited companies. They will be able to discuss the relative benefits and limitations of each type of ownership. They will also look at how and why businesses will be motivate to grow over time.

Organisation and Communication

Students will be able to analyse the internal organisation of a business. They will investigate how working practices and communication methods have changed over time particularly with the integration of ICT.

Production Methods and Management

Students will be able to discuss how and why different production methods are used by a business. They will investigate the methods used by a business to increase efficiency of the production process.

Production Costs

Students will be able to calculate fixed, variable, average and total costs of production. They will be able to construct and interpret break even charts in order to inform business strategy. They will also investigate how larger business achieve economies of scale compared to their smaller counterparts.

Finance Sources and Financial Forecasting

Students will investigate the needs for and sources of finance for a business. They will be able to use construct a cash flow forecast for an organisation and analyse how a business could improve their cash flow position.

The Competitive Environment

Students will show an understanding of competitive and monopolistic markets. They will show an understanding of how and why governments intervene to promote competition.

Environmental Issues and Business Ethics

Students will develop a knowledge and understanding of the social, environmental and ethical considerations a business must consider when operating. They will also understand the need for sustainability in order for a business to achieve longevity.

Government and the UK Economy

Students will be able to discuss how businesses are affected by changes in UK taxation in additional to other economic factors such as rising incomes, inflation, unemployment and gross domestic product.

Globalisation and UK Business

Students will develop an understanding of globalisation and the importance of international change. They will understating the impact exchange rate fluctuations has on UK businesses.

What type of homework will be set?

Students will be given a range of homework related to the topics they are studying in class. This could include stimulus response, essay writing, past exam papers or extended projects.

How will my child be assessed in Business Studies?

Students will study:

Business 1 – business activity, marketing and people – 50% exam – 1.5 hours

Business 2 – operations, finance and influences on business (02) – 50% exam – 1.5 hours

What can my child move onto with Business Studies?

Studying Business Studies opens up a lot of career prospects. Students will either work for a business or in time set up their own in the future. Students could consider a career or future study in accountancy and finance, human resources, production, economics, insurance and many other sectors of the economy.