Business Studies

What?

Theme 1 – Enterprise and Entrepreneurship 

This is the first topic for our GCSE business students and it focuses on the dynamic nature of business and why/how new business ideas come about. Students learn about risk and reward in business and how important the entrepreneurs role is in building and running a successful business.

Why?

Learning about enterprise and entrepreneurship allows our students to be introduced to business by focusing on how small businesses. Students learn how business ideas come about and why entrepreneurs introduce new products or set up new businesses. They are introduced to the idea that in business there is risk taking and understand the rewards businesses can gain from taking these risks. Students are also introduced to the idea of profit and how businesses begin to add value to their products and services given them the best chance of survival and monetary success. 

How?  

Core knowledge:  

• The dynamic nature of business 

• Why new business ideas come about 

• How new business ideas come about 

• Risk and Reward in business 

• The role of the business enterprise 

• Adding Value 

How well? 

• Students are able to understand the dynamic nature of business 

• Students are able to explain how new business ideas come about and how businesses weigh up the risk and rewards of this idea. 

• Students are able to explain the role of business enterprise.  

• Students are able to explain how businesses successfully add value to their business. 

Where next?

• Students can use their gained knowledge to be able to begin to put business ideas into practice. 

• Students can use the knowledge and skills gained to support learning in their next topic – Market research and the competitive environment. 

• Additionally, these skills will develop student’s confidence in answering 6 and 9 mark questions in their business exam. 

• Theme 1.2 spotting a business opportunity. 

What?

Theme 1 – Enterprise and Entrepreneurship – Spotting a business opportunity.

The second term starts with students starting our second chapter of theme 1. This chapter is on spotting a business opportunity by understanding customers needs through different forms of market research.

Why?

Learning about how businesses spot a business opportunity is a crucial element of businesses studies. This topic falls under theme 1.2 for their theme 1 exam and teachers our students how to utilize market research and interpret the data collected to help inform the businesses. Students understand primary and secondary research and use the information gathered to judge where a gap in the market lies either with price, quality, location, product range or customer service.

How?  

Core knowledge:  

• Identifying customer needs
• Market research identifying gaps in the market and reducing risk.
• Methods of primary and secondary research
• Understanding quantitative and qualitative data.
• Identifying market segments: location, demographics, lifestyle, income, age
• Market mapping to identify a gap in the market and the competition
• Strengths and weaknesses of competitors based on: price, quality, location, product range and customer service.

How well? 

• Students are able to understand how we identify customers needs
• Students are able to explain how they spot gaps in the market
• Students are able to explain primary and secondary research and the pros and cons of each.
• Students are able to understand market segments
• Students are able to judge the strengths and weaknesses of businesses using SWOT analysis.

Where next?

• Students can use their gained knowledge to be able to begin to explain what direction businesses should take next.

• Students can use the knowledge and skills gained to support learning in their next topic – putting business ideas into practice. 

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam.

• Theme 1.3 putting business ideas into practice.

What?

Theme 1 – Enterprise and Entrepreneurship – Spotting a business opportunity.

The third term starts with students starting our third chapter of theme 1. This chapter is on ‘putting a business idea into practice’.

Why?

Learning about how we now put our new found business knowledge into practice is a crucial element of businesses studies. This topic falls under theme 1.3 for their theme 1 exam and teaches our students what types of business aims and objectives businesses may have and why these are important. Students will also begin to understand the financial side of running a business including learning about break even and the importance of this, along with the importance of cash and how to predict cash flow using cash flow forecasts.

How?  

Core knowledge:  

• Business aims and objectives

• Business revenue, costs and profit

• Break even and understanding break even charts

• The importance of cash flow

• And how business source different forms of finance.

How well? 

• Students are able to understand why business set aims and objectives

• Students are able to explain how business calculate revenue, cost and profit

• Students are able to use break even charts to work out the break even point of a business.

• Students are able to understand the importance of cash flow.

• Students are able to judge the strengths and weaknesses different forms of business finance whether internal or external.

Where next?

• Students can use their gained knowledge to be able to begin to explain what direction businesses should take next.

• Students can use the knowledge and skills gained to support learning in their next topic – putting business ideas into practice.

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam.

• Theme 1.4 Making the business effective.

What?

Theme 1 – Enterprise and Entrepreneurship – Making the business effective.

The fourth term starts with students starting our fourth chapter of theme 1. This chapter is on ‘Making the business effective’.

Why?

Learning about how we now put our new found business knowledge into practice is a crucial element of businesses studies. This topic falls under theme 1.4 for their theme 1 exam and teaches our students what types of business ownership the students can have from franchise, sole trader and private and public limited companies. Students will also begin to understand the marketing mix where they begin to apply the 4ps which are product, price, promotion and place.

How?  

Core knowledge:  

• Business ownership and liability

• What Is a franchise

• Business location

• Marketing mix – 4ps

• Business plans

How well? 

• Students are able to understand the different types of ownership and the liabilities that come with each.

• Students are able to explain what a franchise is and the pros and cons of this.

• Students are able to understand the impact that location can have on a business success

• Students are able to understand how businesses apply the 4ps to their products and business.

• Students are able to understand the importance of business planning.

Where next?

• Students can use their gained knowledge to be able to begin to explain what direction businesses should take next.

• Students can use the knowledge and skills gained to support learning in their next topic – putting business ideas into practice.

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam.

• Theme 1.5 Understanding external influences on business.

What?

Theme 2 – Building a business – 2.1 Growing the business

Year 11 begins with the students being introduced to theme 2. Our first topic for theme 2 is about how businesses begin to grow from a start up. 

Why?

Students are introduced to theme 2 and begin in term 1 with one with how to grow a business. Businesses without growth will stagnate and often be overrun by growing competition. Students are taught different methods to grow a business and the impact each method can have. On top of this students will understand the difference between internal growth and external growth. Lastly students will need to understand the different sources of finance for businesses to use for growth and the pros and cons for each of these.

How?  

Core knowledge:  

• Methods of business growth and their impact 
• internal (organic) growth: new products (innovation, research and development), new markets (through changing the marketing mix) 
• External (inorganic) growth: merger, takeover. 
• The types of business ownership for growing businesses. 
• Sources of finance for growing and established businesses

How well? 

• Students are able to understand how businesses can grow internally and externally.  

• Students are able to explain the different types of business ownership and the pros and cons of each. 

• Students can identify the sources of finance businesses can use and be able to analysis which option is best for different businesses. 

Where next?

• Students can use their gained knowledge to be able to begin to explain the different steps businesses can take to grow 

• Students can use the knowledge and skills gained to support learning in their next topic – Making marketing decisions.  

• Additionally, these skills will develop student’s confidence in answering 6, 9 and  12 mark questions in their business exam. 

• Theme 2.2 Making marketing decisions.

What?

Theme 2 – Building a business – 2.2 Making marketing decisions

As we progress further into year 11 our students begin to focus on the marketing decisions businesses need to make.

Why?

Students in this term focus on topics 2.2. This focuses on the design mix of function, aesthetics and cost. We then teach the students about the product life cycle stages and how businesses can extend the product life cycle of a product. Students understand the importance of businesses differentiating their product range and services to allow for greater growth and safety of their business. Lastly students are taught the importance of businesses understanding pricing and promotion strategies to be able to gain the greatest profit.

How?  

Core knowledge:  

• The design mix

• Product life cycle

• The importance to a business of differentiating a product/service.

• Price, Promotion, Place

• Using the marketing mix to make business decisions

How well? 

• Students are able to understand the design mix and how it is applied

• Students are able to explain the different stages of the product life cycle and how to extend this

• Students can evaluate the importance of differentiating product or services through exam questions

• Students can explain the marketing mix and how businesses can use this to change their price, promotion, place to gain an advantage over their competitors.

Where next?

• Students can use their gained knowledge to be able to begin to explain how businesses can further adapt.

• Students can use the knowledge and skills gained to support learning in their next topic – Making operational decisions

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam.

• Theme 2.3 Making operational decisions.

What?

Theme 2 – Building a business – 2.3 Making operational decisions

As we progress further into year 11 our students begin to focus on the day to day running of a business. This includes managing stock levels, quality of products and production.

Why?

Students in this term focus on topics 2.3. This focuses on the business operations. Students will be learning about how production can vary between different businesses and the impact technology can have on this. Students learn the different ways business manage stock levels and work with suppliers. Lastly students are introduced to the sales process and how business manage qualities of their products and their service.

How?  

Core knowledge:  

• Business operations

• Technology, productivity and production

• Managing stock

• Procurement: working with suppliers

• Managing quality

• The sales process

How well? 

• Students are able to understand business operations

• Students are able to explain how technology has effected productivity of businesses production

• Students can understand how businesses manage stock levels differently and how they procure stock from different suppliers

• Students can understand how business can manage quality of their produce

• Students will understand how the product makes it to sales.

Where next?

• Students can use their gained knowledge to be able to begin to explain how businesses can further adapt

• Students can use the knowledge and skills gained to support learning in their next topic

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam

• Theme 2.4 Making financial decisions.

What?

Theme 2 – Building a business – 2.4 Making Financial decisions + 2.5 Making human resource decision

As we progress further into year 11 our students begin to focus on different business calculations to understand how the business is performing to inform them of what financial decision to take. Students then are introduced to the world of HR.

Why?

Students in this term focus on topics 2.4 and 2.5. 2.4 focuses on financial decisions. Students will be learning about how to understand business performance and the next steps businesses should take. Students then move onto 2.5 which focuses on making human resource decisions. This teaches students about organizational structure and the importance of effective communication in these structures. This also looks into how to motivate your staff and the benefits of this.

How?  

Core knowledge:  

• Being able to apply different business calculations and understand how business is performing

• Organisational structures of businesses

• Different ways business and employees can work

• Effective recruitment

• Effective training and development

• Motivation

How well? 

• Students are able to look at different business can calculate the success of the business

• Students are able to explain different organisation structures of businesses

• Students can understand how businesses and employees can work in different ways

• Students can understand how effective, recruitment, training and development can have a positive impact on the businesses success

• Students will understand how motivation of employees will lead to numerous benefits.

Where next?

• Students can use their gained knowledge to be able to begin to explain how businesses can further adapt.

• Students can use the knowledge and skills gained to support learning in their next topic

• Additionally, these skills will develop student’s confidence in answering 6, 9 and 12 mark questions in their business exam

• Exam practice and revisions of theme 1 and theme 2 for their exams.

What?

Section 1 &2: What is a business/ Managers, Leadership and decision making. 

• To understand why businesses exist

• To understand the relationship between mission and objectives

• To understand why businesses set objectives

• To understand the measurement and importance of profit 

• To understand reasons for choosing different forms of business and for changing business form

• To understand the role of shareholders and why they invest

• To learn about influences on share price and the significance of share price changes

• The effects of ownership on mission and objectives

• How the external environment can affect costs and demand 

• To understand the distinction between management and leadership

• To be aware of types of management and leadership styles and influences on these

• To understand the effectiveness of different styles of management and leadership 

• To learn about the value of decision making based on data (scientific decision making) and on intuition

• To understand the influences on decision making

• To learn about considering stakeholders’ needs when making decisions and how these needs overlap and conflict of these needs

• To learn about how to manage the relationship. 

Why?

These first two sections introduce students to the foundations of A Level business, and begin to develop the importance of business context in relation to decision making whilst considering aims and objectives, legal structure and profit maximisation. Students will appreciate the role of capital both financial and human in the critical role of making decisions which underpins almost all analysis and evaluation questions.  

How?  

Core knowledge:  

• Students are expected to conduct wider reading (through free FT subscription and other publications)

• Full engagement in class including contributing to class discussions reflecting on the latest business news

• Lessons are fully planned and resourced and real life and relevant business examples are used throughout

• There are many opportunities for collaborative work where peer learning can occur 

• Regular low stakes and end of unit knowledge tests.

How well? 

• Students can analyse different business types and in particular the nuance between public and private limited companies

• Students have a clear understanding of the distinction between managers and leaders

• Students appreciate that strategies are derived from the objectives of a business

• Students understand the role of stakeholders, their influence and conflict therein.

Where next?

Students can use this initial knowledge when learning about the four functional areas of business (marketing, finance, HR and operations).

What?

Section 3: Market management 

Marketing can be seen either as a way of thinking or as a range of activities. For most modern businesses marketing is focusing the goals and strategies of the business on an identified market opportunity.

Why?

For this term our students focus on topic 3. This topic allows our students to understand markets and customers. Students will research and learn why businesses make certain marketing decisions and how they segment the market. Students will learn the invaluable knowledge of the marketing mix and be able to apply this to real life scenarios.

How?  

Core knowledge:  

• Setting marketing objectives

• Understanding markets and customers

• Making marketing decisions, segmentation, targeting, positioning

• Making marketing decisions; using the marketing mix

• To understand the elements of the marketing mix (7Ps)

• To learn about the influences on and effects of changes in the elements of the marketing mix.

How well? 

• To understand the value of setting marketing objectives

• Marketing research should include qualitative and quantitative data

• They should be able to calculate market and sales growth, market share and size

• The value of sampling should include:

  • random

  • stratified

  • quota

• Interpretation of marketing data should include:

  • positive and negative correlation and an understanding of the strength of the relationship

  • understanding the concept of confidence intervals

  • understanding extrapolation

• They should be able to interpret price and income elasticity of demand data and be able to analyse the impact of changes in price and income on revenue

• To learn about the process and value of segmentation, targeting and positioning

• To learn about the influences on choosing a target market and positioning.

Where next?

• Students will be able to use this knowledge and apply it to creating their own business
• Students will use this knowledge to move onto topic 4 in term 3 on: Decision- making to improve operational performance.

What?

Section 4: Decision making to improve operational performance

As we progress through year 12 we continue to build on our business knowledge. This term we move onto the operational side of business focusing on supply and production.

Why?

Knowledge of how successful businesses operate includes the setting of operational objectives and finding ways for to operate in the most efficient manor possible. Ways businesses do this is through lean production, capacity utilisation and the implementation of different technologies to aid production and quality.

How?  

Core knowledge:  

• Setting business objectives

• Efficiency and labour productivity

• Lean production

• Capacity utilisation

• Technology and operational efficiency

• Analysing operational performance

• Improving quality

• Managing supply chains

• Managing inventory

• Decision making to improve operational performance.

How well? 

• Students will understand how to set operational objectives

• Students have a clear understanding of efficiency of labour productivity

• Students will learn how to improve operational performance through lean production, capacity utilisation and implementing technologies

• Students will learn how businesses manage the supply chain and inventory

• Students will be able to use all of the above knowledge to make inform decisions to improve operational performance of scenario businesses.

Where next?

• Students will use this knowledge to help progress through Year 12 Business to also support with the next unit of decision making to improve financial performance.

What?

Section 5: Decision making to improve financial performance

As we progress through year 12 we continue to build on our business knowledge. This term we move onto the financial side of business focusing understanding and calculating financial performance.

Why?

To run a successful business students need to understand how to calculate revenue, costs and profits. Students will be able to apply learnt knowledge of break even analysis and cash flow management to predict the success of a business or product. Students will also learn how businesses budget and how to increase profit learning from real life scenarios to help further inform their understanding.

How?  

Core knowledge:  

• Financial objectives

• Calculating revenue, costs and profits

• Break-even analysis

• Cash flow management and forecasting

• Budgets and budgeting

• Profit and how to increase it

• Cash flow vs profit

• Sources of finance.

How well? 

• Students will understand how to set financial objectives

• Students have a clear understanding of how to calculate revenue, costs and profit

• Students will learn how business predict their financial future through break even analysis and cash flow forecasting

• Students will learn how businesses budget and the importance of this

• Students will be able to explain the difference between cash flow and profit with a focus on how they can improve their profit

• Students will be able to use all of the above knowledge to make inform decisions to improve financial l performance of scenario businesses.

Where next?

• Students will use this knowledge to help progress through year 12 businesses to also support with the next unit of decision-making to improve human resources performance.

What?

Section 7 Analysing the strategic position of a business

• To understand mission statement, corporate objectives and strategy  

• To understand Financial ratios. 

• To understand overall performance 

• To understand political, legal change, social and technological changes 

• To understand the competitive environment.

Why?

The firms mission, corporate objectives and strategy steer the entire operation and run central to everything a firm does and how well it does it.  One key aspect of measuring this is using financial ratios and analysing this performance over time, inter and intra company. However, the financial ratios are just one aspect of measuring performance and further investigation on core competencies, balanced scorecard, triple bottom line, all over the short and long term to give the learners a more rounded response to assessing business performance. Coupled with an appreciation on the changing political and legal framework along with social and technological changes. A wider understanding of the macro economic environment is required as this wraps itself around significant business issues students will examine. 

How?  

Core knowledge:  

• Students are expected to conduct wider reading (through free FT subscription and other publications). 

• Full engagement in class including contributing to class discussions reflecting on the latest business news. 

• Lessons are fully planned and resourced and real life and relevant business examples are used throughout. 

• There are many opportunities for collaborative work where peer learning can occur. 

• Regular low stakes and end of unit knowledge tests. 

How well? 

• Students recognise the difficulty in changing strategy and the problems that this gives rise too. 

• Students can analyse different ratios and more able can manipulate the ratios based on potential investment opportunities and potential returns. 

• Students can understand and can apply Kaplans balanced scorecard and Elkingtson triple bottom line and can start to build connections to Corporate social responsibility including Carols CSR pyramid. 

• Students can recognise a firms core competency and its strategic benefits. 

• Students can provide a detailed analysis of the business environment through Porters five forces.  

Where next?

Students can use this pivotal learning to enable them to assess the strategic position of a firm before they consider future strategic directions via Ansoff and Porters Strategic direction. 

What?

Section 8: Choosing strategic direction

Students in this term will learn how businesses strategies their position and direction to ensure they are able to compete.

Why?

This term there is a focus on our 8th topic in A Level business out of 10. Students are taught to understand the factors that influence which markets businesses choose to compete in and which products they choose to offer. There is a focus on the strategic direction which includes Ansoff Matric and the value of market penetration, market development, new product development and diversification. Students are then taught how to compete and the importance of their strategic position including porter’s low cost, differentiation, and focus strategies.

How?  

Core knowledge:  

• Strategic direction: choosing which markets to compete in and what products to offer

• Strategic positioning: Choosing how to compete.

How well? 

• To understand factors influencing which markets to compete in and which products to offer

• To understand the reasons for choosing and value of different options for strategic direction

• To learn about how to compete in terms of benefits and price.

• To learn about influences on the choice of a positioning strategy

• To learn about the value of different strategic positioning strategies

• To understand the benefits of having a competitive advantage

• To understand the difficulties of maintaining a competitive advantage.

Where next?

Students can use this pivotal learning to enable them to progress into chapter 9: Strategic methods: how to pursue strategies.

What?

Section 9: Strategic methods: How to pursue strategies

Students in this term will learn how to pursue different strategies for businesses. This focuses on growth and the attractiveness of international markets.

Why?

This term there is a focus on section 9 the biggest unit out of the 10 over the two years. Students learn about why business grow or retrench (reduce in size). The benefits of growth such as economies of scale and downsides of facing diseconomies of scale. Students will learn the different types of growth business can take and the importance of innovation and how to protect these ideas. The unit then moves onto the attractiveness of international markets and this can continue into term 4.

How?  

Core knowledge:  

• Growth and retrenchment

• Economies and diseconomies of scale

• Methods and types of growth

• Innovation – becoming and innovative organisation – protecting innovative ideas

• Reasons to trade internationally

• Attractiveness of international markets

• China and India

• Targeting overseas markets

• Managing international business

• Digital technology.

How well? 

• To understand why businesses grow or retrench and how this links to economies and diseconomies of scale

• To understand the different methods businesses can choose to grow and the pros and cons of each

• To learn about why and how businesses can innovate and the success this can bring

• To learn about international markets and how and why businesses target these

• To learn about the importance of using digital technology.

Where next?

• Students can use this pivotal learning to enable them to progress into chapter 10: Managing strategic change
• Students will also be applying their knowledge learnt to different exam questions to further develop and allow for practice of their exam technique.

What?

Section 10: Managing Strategic Change

Students will begin this term finishing section 9 and then will move onto section 10 which focuses on strategic change.

Why?

This term will begin with students finishing section 9 and then we move onto section 10. Section 10 focuses on ‘change’ and the value change can have on a business. Students will learn of the importance of businesses being flexible and the potential barriers of change that they may come across. Students will also learn how to manage and create a good culture within successful businesses and some problems they may face with strategies.

How?  

Core knowledge:  

• Causes and value of change

• The flexible organisation

• Barriers to change

• Managing organisational culture

• Strategic implementation

• Network analysis and strategic implementation

• Problems with Strategy.

How well? 

• To understand why businesses change and the value this can have for a business

• To understand the importance of a business being flexible with its decisions

• To learn what barriers can prevent businesses from adapting and changing quickly if at all

• To finally learn how to implement a successful culture and how to implement strategies successfully into businesses.

Where next?

• Exam preparation
• Students will also be applying their knowledge learnt to different exam questions to further develop and allow for practice of their exam technique.