WHY SHOULD I STUDY BUSINESS STUDIES? This subject is very popular and available at GCSE as well as AS and A level.  It is a  valuable subject for two reasons.  Firstly it offers an insight into the world of work which all students enter eventually.  Having some knowledge of business matters offers benefits to all irrespective of their future career intentions.  Secondly the study of this subject offers the opportunity to acquire important transferable study skills which will be applicable in other subjects.  Analysing data, developing arguments, problem solving and decision making are just some of the skills you can acquire whilst studying Business Studies.

WHAT COURSES ARE AVAILABLE?

GCSE Business Studies (OCRl) 

GCSE Applied Business (Edexcel) 

1.     GCSE Business Studies (OCR)

There are three units of teaching in this GCSE course. 

(i)         Marketing & Enterprise.  This provides students with an introduction to business studies looking at the creation and operation of a new business.  Students will consider the skills and knowledge that are needed to set up a business and will learn about how to plan a business start-up. 

 The Unit will also introduce the marketing activities carried out by entrepreneurs.  Students will learn how to plan and conduct market research, how to promote and choose prices for their products and how the internet can help in this process.

(ii)        Business & People.  There are many decisions that owners of a new business may have to take such as the objectives it will pursue, whether or not to form a company and where to locate the enterprise.  This Unit will examine the issues involved in the these aspects of starting and managing a business.

 The Unit considers the issues involved in employing people.  Students will examine how to recruit, train and motivate employees as well as the roles and importance of trade unions and good communication.

(iii)       Production, Finance & the External Business Environment.  This final unit of teaching covers the ways in which businesses can produce goods and services and the importance of supplying high quality products.  It introduces the notion of financial planning introducing students to cash flow, profits and the possible sources of finance for a business.  A major topic looks at the external factors influencing businesses and this will include business ethics, the government, the environment and the global nature of many markets.

2.        

APPLIED BUSINESS

Examination Board: Edexcel

Specification: 2(AB)02

Applied GCSE Business enables students to gain a broad understanding of this subject through the investigation of a range of business organisations.   It provides students with the opportunity to develop research skills and to demonstrate knowledge, understanding and other skills through preparing extended pieces of coursework.  There is a single examination.  Successful students are awarded a double GCSE.

Unit One:  How Businesses Work – Internally Assessed (30%)

The unit contains three topics:

• What is a business and what do businesses do?
• How are businesses organised?
• Why are stakeholders so important?

This unit considers how organisations organise themselves to meet their objectives.  It also examines ownership and students will investigate how different types of ownership affect the running of a business.  Students will investigate a wide range of topics including how business measure their performance, ‘ethical’ businesses and communication within businesses.   A central part of the Unit identifies the stakeholders of businesses and what they expect from the organisation.  As part of the assessment students are invited to research two contrasting businesses.

Unit Two:  Financial Records – Examination 60 minutes (20%)

The unit contains four topics:

• Investigating the flow of financial documents used in business trading
• Investigating business payment methods and costs
• Investigating the nature of financial statements in business
• Investigating the importance of financial statements to business

This unit provides an introduction to this subject.  Students will discover the importance of recording and controlling inflows and outflows of money to all businesses, large and small.  The Unit will introduce cash flow forecasts, balance sheets and income statements and will consider how IT can be utilised to record, monitor and interpret financial information.

Business Studies is a valuable subject for all students irrespective of career intentions.  It provides an understanding of how businesses operate internally and how they respond to external factors.  It will assist in understanding the world in which we live and work.

Unit Three: Investigating People, Business and Change – Internally assessed (30%)

The unit contains three topics:

• Why are people important?
• How do businesses develop?
• What are external factors?

One of the most valuable resources of any business is its people.  This Unit looks at the different roles played by people within business organisations and also covers the recruitment process, training and the rights and responsibilities of employers and employees within the workplace.  The unit considers important issues affecting a business’s ability to grow such as its location and trends in the market.

The external environment in which a business operates is very important.  Students will learn about the ways in which changes in the economy affect businesses (as at the moment!) and also how concerns about pollution can shape the way that businesses behave.

Students will research two businesses as a part of studying this module.  One will be a local business whilst the other will operate nationally or internationally.

Unit Four:  Financial Planning and Forecasting – Examination 60 minutes (20%)

The unit contains four topics:

• Investigating business cash-flow forecasts
• Investigating business budgets
• Investigating break-even analysis in business
• Investigating sources of business finance and financial planning

Cash flow is vital to businesses and a lack of cash is the major reason for business failure.  This Unit will introduce students to the ways of planning and managing cash.  It also covers the development of budgets and how these are used to help managers control the business’s finances.

This Unit also considers the ways in which businesses can raise finance for expansion and how to prepare a financial plan to persuade banks and other organisations to agree to make a loan.

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