BUSINESS STUDIES Business Studies is a very popular choice for students at both GCSE and A Level as it deals with skills and issues relating to their working life beyond school and university. The department has highly qualified staff that has had substantial business experience to bring the subject to life. Year 8 Financial Capability: These lessons are delivered by the form tutor in tutorial time and cover topics to encourage money management. Topics include: Opening a bank account, budgeting, savings, banking and business terms. Year 9, 10 & 11 - Edexcel GCSE Business Studies Specification 2BS01 The qualification is built around the concept of starting your own small business and then how a business develops beyond the start-up phase to survive, consolidate and grow. The emphasis is on small business as students often want to run their own business and the small business aspect makes the subject real and accessible. There are three modules to this qualification; the first module focuses on all the elements necessary for a successful start-up, the second asks the student to investigate one element of a small business and the third how the business develops and grows. The marks for the three modules are aggregated and given one of the following grades: A*, A, B, C, D, E, F, G. Introduction to Small Business 5BS01 This module equates to 25% of the overall grade and is examined by a 45 minute multiple choice paper. There are five main topics: Spotting a business opportunity how business works and how they get their goods to market; finding out what the customer needs are to market their product around those needs; investigating competitors and their products; mapping the market to find out if those competitors have low quality/prices or high quality/prices; investigating the concept of added value (taking the raw materials and using your time and skill produce a finished product); franchising, operating your own business under the name of a well-known brand i.e. McDonalds. Showing enterprise understanding what enterprise is; thinking creatively to spot gaps in the market for your ideas; understanding the difference between invention and innovation; taking a calculated risk; enterprise skills, such as seeing opportunities, planning, thinking ahead, having drive and determination. Putting ideas into practice having objectives when starting up; the qualities shown by entrepreneurs, such as risk taking, initiative, leadership, persuasion; estimating sales revenue, costs and profit; cash flow forecasting, constructing a business plan; obtaining finance to fund your idea and start-up. Making an effective start up customer focus and marketing; ownership and limited liability; legal and tax issues; customer satisfaction and repeat purchases; recruiting, training and motivating staff. The economic context understanding how prices are affected by supply and demand; the impact of interest rates and exchange rates; how the business cycle affects business boom, recession and bust ; the decisions the business takes and the influence of stakeholders. Investigating a Small Business 5BS02 This module is a Controlled which builds upon the knowledge gained in the previous module. The students will undertake research into one of the activities of a small business. The examination board issues five report titles each year and the students have free reign to choose one of the titles. The business chosen can be a parent s, relative s, work experience or a local business they can get access to. The students have a maximum of six hours to complete and evaluate their research; this can take place both inside and outside of lesson time. Three hours are allocated to the write up, which is completed in lesson time in strict examination conditions. Students who get additional time or help in exams will also get this for the Controlled. The Controlled is marked by the Business Studies department and then a sample is sent to a moderator to assess the marks awarded. The marks are worth a further 25% of the overall grade.
Building a Business 5BS03 This module investigates the issues beyond the start-up, having been established how they survive and grow and is worth 50% of the overall grade. There is an exam of 90 minutes covering a mixture of multiple choice, shorter and essay style questions. Topics include: Marketing product trials and repeat purchasing; the life time of products; branding and differentiation; building a successful marketing mix. Meeting customer needs successful design and development of product following customer research; managing stock; quality, production and competitiveness; effective customer service; meeting consumer protection laws. Effective financial management how to improve cash flow and profits; how to calculate and analysis breakeven; financing growth of the business. Effective people management the structure options for businesses; motivation (theories, monetary & nonmonetary); remuneration; internal and external communication. The wider world affecting business ethics in business and environmental issues; economic issues affecting international trade; the impact of government and the European Union (EU). Year 11 - Edexcel GCSE (Short Course) in Business Studies 3BS01 Covers unit 1 Introduction to Small Business and unit 2 Investigating Small Business the Controlled as per 2BS01. The qualification has the same grading structure as 2BS01 and is worth half a GCSE. Sixth Form - New A-Level Business (2015 onwards) AS specification reference: 8BS0 A2 specification reference: 9BS0 Background A-level Business allows students to study various businesses and gain an understanding of how they work, as a whole, in a range of different contexts. Students will learn how various businesses behaviour is viewed differently by a range of different groups. The ability to devise approaches to different businesses, opportunities and issues will be acquired as the course progresses. Content In the first year students will learn two themes. One is Marketing and people, while the other is Managing business activities. In the second year students will learn a further two themes. The first is Business decisions and strategy with the second being Global business. The specification is comprehensive and covers a range of topics from finance, all the way through to human resources. Each paper is worth 80 marks and is worth 50% of the AS qualification. Each paper is 1 hour 30 minutes in duration. Paper 1 will assess marketing and people, entrepreneurs and business start-up. Paper 2 will assess business finance and operations, and external influences on business. For theme 1 The questions in Sections A and B will be drawn from Theme 1 content. The question in Section C will also be drawn from Theme 2 content requiring students to make connections between marketing and people (Theme 1) and managing business activities (Theme 2). For theme 2 The questions in Sections A and B will be drawn from Theme 2 content. The question in Section C will also be drawn from Theme 1 content requiring students to make connections between managing business activities (Theme 2) and marketing and people (Theme 1). Questions will be drawn from local, national and global contexts for each paper.
Where can it lead? Students with an AS or A Level in Business will have access to a broad range of potential careers and opportunities and Higher Education institutions. The qualification will introduce you to international business, equipping you to work in, or to manage a business based in the UK, internationally. You will get a head start in careers such as Business Management, Marketing, Human Resources, and Law. Sixth Form - A2 Business Students that choose to continue with the subject to a full A-level will build upon the skills and knowledge that they have learnt in AS but in with a clear strategic, and global focus. Units Theme 3 is called Business decisions and strategy Theme 4 is called Global business Paper 1 makes up 35% of the qualification and will assess marketing, people and global businesses. Questions will be drawn from Themes 1 and 4, and from local, national and global contexts. Sections A and B each comprise one data response question broken down into a number of parts, including one extended open-response question. 100 marks available. Paper 2 makes up 35% of the qualification and will assess business finance and operations, business decisions and strategy. Questions will be drawn from Themes 2 and 3, and from local, national and global contexts. Sections A and B each comprise one data response question broken down into a number of parts, including one extended open-response question. 100 marks available Paper 3 makes up 30% of the qualification and will assess content across all four themes. Questions will be drawn from local, national and global contexts. For Paper 3, there will be a pre-released context document issued on our website in November of the previous year. A new context will be given to centres each year and will relate to the examination series for the following summer. The context will focus on a broad context, such as an industry or market in which businesses operate. The question paper will be in two sections. The first section will focus on the broad context provided. This will be outlined to centres through the pre-released document. Questions will focus on the broad context. The second section will focus on at least one strand within the context provided, such as a particular business. Each section will contain unseen stimulus materials comprising quantitative and qualitative evidence. Students are required to apply their knowledge and understanding from Themes 1, 2, 3 and 4 and their understanding of the broad context to this evidence. Students cannot take any of their research or investigation data carried out as part of the pre-release into the examination. Sections A and B each comprise one data response question broken down into
a number of parts, including one extended open-response question. 100 marks available. Where can it lead? Students with an AS or A Level in Business will have access to a broad range of potential careers and opportunities and Higher Education institutions. The qualification will introduce you to international business, equipping you to work in, or to manage a business based in the UK, internationally. You will get a head start in careers such as Business Management, Marketing, Human Resources, and Law. Legacy A2 Business Studies 2014-15 - Specification Reference H426 The A2 course follows the same pattern as the AS course with 3 modules two coursework assignments and one examined module. Again all 3 modules carry equal weighting, with the AS and A2 scores being aggregated to produce a final A Level result. A Level grades A*, A, B, C, D, E. F248 Strategic decision making (Examined Module) This module is based upon a pre-release case study and looks at the high level decision making process and tools that a business would use to plan financial, production, marketing and human resource strategies, plus the advantages and disadvantages of each. Contingency planning is also a factor, looking at ways to minimise disruption following a disaster, such as a fire, explosion or strike or an unforeseen event like 9/11. The exam is scheduled for 2 hours. F249 Business plan for the entrepreneur (Coursework Assignment) This module asks the student to research and prepare a business plan for their own enterprise. As they would be starting from a position with minimal knowledge, the theory of business planning is studied and written up in their assignment to give a base to work from. The next step is to research their idea covering marketing: competitors, customers and market; finances: costs, purchases, prices and sales revenue; production: required equipment and process maps; human resources: numbers of employees and wages. Once this has been completed, a business plan is prepared; the document you would give the prospective investor to persuade them to lend the start-up money. The final element is evaluating the constraints social, financial, legal, environmental, competitive and technological that could prevent your business from succeeding. F252 Promotion in action (Coursework Assignment) Following on from the marketing assignment and building upon that knowledge, the students will be preparing a promotional campaign for a new product for a business of their choice. This will look at the promotional process from inception to execution and planning a media campaign. Firstly, we shall look at the theory of promotion and highlight the use of different methods and media with examples from contemporary campaigns to illustrate how the theory is used in practice. Examples include mass media TV, radio, the internet, sponsorship, direct mail, incentives, stockpiling. The next step is to research the current promotional activity of the chosen company and competitors, the market and the potential customers promotional preferences. Once the research is collected, analysed and evaluated the student can prepare their strategy. To further assist their research and strategy we arrange a visit from the MD of a promotion and creative agency, who gives up to date information on the current trends of the sector. The strategy is then prepared using the research information including costs of advertisements, strategic tools to give direction and the production of two finished media concepts, such as radio scripts, TV advert storyboard, website pages or billboard. The final element is to evaluate influences, both internal and external such as budgets or social trends that have impacted on the promotional strategy. ifs School of Finance - Level 2 Certificate in Personal Finance Background The course has been designed for students who are, or will shortly be, reaching a stage in their lives when they are becoming financially independent. By building their understanding of personal finance, students will be developing the important life skill of money management.
Content How the sources and uses of money are influenced by practical and legal constraints Methods of organising your money through personal budgeting How to use appropriate bank and building society accounts for day to day transactions and savings Consequences of overspending or not paying debts or bills There are three units: Unit 1 - Personal Financial Encounters Unit 2 - Money Management Solutions Unit 3 - Personal Finance Management All units can be taken at any time via paper based examinations or online and last 30 minutes each, using multiple choice questions, with some questions relating to a small case study. The course is a Level 2 qualification within the Qualifications and Credit Framework (QCF), the same as GCSE A* to C. Units will be graded using the same grading structure - A* to C. Links Certificate in Personal Finance IFS CPF2 http://www.ifslearning.ac.uk/financial-capability/qualifications/cpf2.aspx Applied Business A-Level http://qualifications.pearson.com/en/qualifications/edexcel-a-levels/applied-business-2008.html Edexcel Business A-Level http://qualifications.pearson.com/en/qualifications/edexcel-a-levels/business-2015.html