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Business Studies

Introduction

Business/Enterprise introduces you to the exciting world of work. It will give you insight into how organisations around you are run, whilst equipping you with the skills to work in them or run your own. It is a constantly evolving subject, which combines excellently with other option choices and is well respected by colleges, employers and universities alike. Studying business combines learning the theory of businesses/organisations, with developing the ability to tackle practical tasks and activities that you would face in the workplace such as writing email/letters, delivering a presentation, delivering excellent customer service and calculating profit. It is a subject brought to life by our business department by having practical links with local real-life businesses to enhance your understanding.

Key Stage 4 – Years 9, 10 & 11 

What will I study?

BTEC Level 2 Tech Award in Enterprise

You will explore different types of businesses in the local area and discover how they were set up, how they are managed, who they compete with and how they find out what customers want.

You are required to plan and run your own small enterprise in small teams, demonstrating the ability to successfully carry out all the activities required to make a business enterprise a success including Marketing, Finance, Customer Service and Operations.

You will also focus on how businesses can stay financially healthy and what careful planning tools are needed to make a business profitable and to maximise revenue and minimise costs. You will become aware of the need for businesses to use promotion, and the different types of promotional activity/advertising businesses around you can use to target their customers.

What skills will I develop?
  • Practical work skills that apply to jobs in the workplace or running your own business
  • Financial planning skills
  • Team Work
  • Communication Skills
  • Organisational Skills
  • Collaboration
  • Leadership
  • Entrepreneurial skills
  • Research skills
  • Creativity and Innovation Skills
How will I be assessed?

3 Units or study.
Two Units : Exploring Enterprise and Planning For and Running Enterprise = Coursework (30% each)
One Unit: Promotion and Finance for Business = Exam (40%)

Key Stage 5

What will I study?

Cambridge Technical Level 3 Business Single Award

This qualification will give learners an opportunity to develop an understanding of the dynamic environment that businesses operate in and the skills, knowledge and understanding required when undertaking many day-to-day roles in a business. Learners cover the fundamental concepts that underpin most business courses including types of businesses and their objectives, how to use financial information, understanding the relationships between stakeholders and assessing business performance. You are required to demonstrate how you would plan and action daily workplace tasks including running meetings, prioritising tasks and communicating in writing with stakeholders. Furthermore, you explore the importance of customers and communication with them and have to practically demonstrate some of the skills required to communicate effectively with customers.

The Double Award qualification follows specific units:

Unit 1: The Business Environment

In this unit you will develop an understanding of how and why businesses operate in the way they do. You will look at a range of different types of business and business structures, and explore how the ownership of a business and its objectives are interrelated. You will learn about the importance of different functions within a business and how they work together. You will understand the legal, financial, ethical and resource constraints under which a business must operate and how these can affect business behaviour. You will explore ways in which businesses respond to changes in their economic, social and technological environment, and the necessity for a business to plan. You will appreciate the influence different stakeholders can have on a business, and you will learn how to assess business performance.

Unit 2: Working in Business

This unit will cover the skills and understanding needed to work effectively within a business environment. This includes arranging meetings, working with business documents, making payments, prioritising business activities and communicating with stakeholders. The way that these activities are dealt with will vary according to the specific business protocols in place. Some of these will be specific to a functional area; however, many are common to almost all job roles.

Unit 3: Business Decisions

All businesses make decisions. Key decisions could include extending a product range, a business changing direction and targeting a new market, or whether it should expand. The decisions made could affect the day-to-day operational activities of the business and could also impact on their short and long-term success.

The ability to make decisions depends on the effective collation, processing and analysis of relevant information. In this unit you will develop your skills of business decision-making using multiple sources of information. You will explore the criteria on which business decisions should be based, and the methods to interpret and analyse this information. In this unit you will learn to consider the many variables involved and encouraged to analyse possible solutions, investigating each for potential drawbacks and benefits, before you reach your preferred decision.

Unit 4: Customers and Communication

In this unit you will learn the purpose, methods and importance of communication in business and the appropriateness of different forms of communication for different situations. You will develop the skills that will help you create a rapport with customers and have the opportunity to practise and develop your business communication skills.

You will also learn about the legal constraints, ethical and security issues that affect how businesses store, share and use information.

Unit 5: Marketing and Market Research

Marketing is the function that makes sure a business sells the right products, at the right price, in the right place, using the most suitable promotion methods. Successful marketing is essential if a business is to survive in a very competitive business world.

The unit has particular emphasis on the role of market research and how it contributes to marketing decision-making, and the actions a business may take. Market research is the process by which organisations obtain the information they require. You will gain an in-depth understanding of primary and secondary market research methods used to inform marketing decision-making and any constraints on marketing activities. You will develop an understanding of the importance of selecting appropriate market research methods for market research proposals and you will be able to carry out market research, analyse the market research findings and present the findings.

Unit 6: Marketing Strategy

In this unit, you will learn about how businesses set different marketing objectives. You will appreciate why segmenting the market is a key activity when planning a marketing strategy as well as the different marketing strategies a business can consider and the tools they use.

You will consider the changing use of digital marketing and the benefits of branding for businesses.

You will consider the different approaches to marketing, for example, when taking a new product to an existing market or entering a totally new market with a new product. You will then be able to use business tools to propose a marketing strategy.

Unit 7: Marketing Campaign

In this unit, you will learn why selecting appropriate marketing methods is crucial for success. You will learn about the marketing mix and the influence of the media as well as other important elements to consider when promoting a product.

By completing this unit, you will understand the importance of digital marketing. You will be able to explore digital marketing methods, including social media and targeted advertising and the role of agencies; for example, advertising and PR agencies.

Unit 15: Change Management

In order to be successful, businesses must be proactive in responding to changes in their day-to-day and longer term activities. These changes may be the result of the introduction of new technologies or legislation, changes in corporate objectives, changing customer tastes or market conditions. Businesses must constantly be aware of the changes that are taking place locally, nationally as well as globally, in order to adapt and adjust their business activities accordingly. Businesses need to evolve from these changes. This might include having to rethink their range of products, service provision or their communication strategies.

A business needs to understand the possible impacts that change might bring, before strategies for managing change can be devised. In this unit, you will learn the importance of managing change, potential barriers to change and these barriers can be removed. You will also investigate the different approaches to managing change, and the advantages and disadvantages of these approaches.

Unit 16: Principles of Project Management

Businesses undertake projects of all kinds that vary in terms of purpose and scope. Some examples of business projects are running an event, launching a marketing campaign, carrying out market research and setting up bookkeeping for local clubs or charities. A project comprises a set of tasks and activities to be carried out in order to reach an intended purpose. Being able to prepare and manage a project is an important skill needed by many different people working in business.

In this unit you will learn about the stages of project management, and the type of skills a project manager should have. You will also learn why you need to monitor the progress of projects as it is vital to their successful completion and implementation.

Unit 22: Delivering a Business Project

A business project comprises tasks and activities to be carried out in order to reach intended outcomes. Being able to scope and deliver a project is an important skill used in business. Projects require the involvement of many different people both internally and externally to the organisation. The role of the project manager is important in enabling a business project to run smoothly and deal with issues as they arise, such as a change in stakeholder needs, while making sure that the project’s objectives are met.

While scoping the project, you need to be aware of internal and external factors which might have an impact on the planning process, as well as how you intend to measure the successful completion and implementation of the project.

As a team, you will collectively take responsibility for project management to ensure the successful planning, implementation, monitoring and control of a project. Team members need to be adaptable, i.e. to be able to work with different people in a range of different ways. Team roles and tasks need to be assigned to the correct individual in order to achieve objectives. You will also create an individual plan that defines your own role in the project administration, delivery and support.

What skills will I develop?
  • Planning and Organisational Skills
  • Financial Planning Skills
  • Non Verbal and Verbal Communication Skills
  • Customer Service
  • Organisational and Prioritisation Skills
  • Written Communication Skills
How will I be assessed single award?

Two Exam Units: One in Year 12 – The Business Environment
One in Year 13 – Working In Business
Three coursework assessed Units: Customers and Communication, Financial Accounting and Human Resources.

How will I be assessed double award?

Three exam units:

  • The Business Environment
  • Working in Business
  • Business Decisions

Seven internally assessed units