Business

Curriculum Intent

Our intent is to equip students with the knowledge and skills required to succeed in entering the world of work, whether that be setting up their own company or working in an existing one. We focus on ensuring students gain a holistic view of the world of business and the impact businesses can have on different stakeholders.

Our aim is for students to develop a number of transferable skills including; team working, problem solving and communication skills. Students will be engaged with the use of real-life business examples in the classroom, resulting in students having a sound knowledge of current affairs and the impact they have on businesses and individuals.

Business is offered as:

  • GCSE Option Years 10 & 11
  • IB Business Management Year 12 & 13

ks4

ks5

Key Stage 4 Business

Curriculum Overview

Students at Key Stage 4 have two periods a week studying the Edexcel GCSE (9-1) Business qualification

 Term 1Term 2Term 3Term 4Term 5Term 6
Year 10Topic 1.1:

 

Enterprise and entrepreneurship

Topic 1.2:

 

Spotting a business opportunity

Topic 1.3:

 

Putting a business idea into practice

Topic 1.4:

 

Making the business effective

Topic 1.5:

 

Understanding the external influences on business

Topic 2.1: Growing the business
Year 11Topic 2.2:

 

Making marketing decisions

Topic 2.3:

 

Making operational decisions

Topic 2.4:

 

Making financial decisions

Topic 2.5:

 

Making human resource decisions

Revision 

 

Year 10

In Year 10 students complete Theme 1: Investigating Small Business and start Theme 2: Building a Business

Students are introduced to the dynamic nature of business in relation to how and why business ideas come about. They will explore how new and small businesses identify opportunities through understanding customer needs and conducting market research. Students will also explore a range of factors that impact on the success of the business, including competition, location, the marketing mix and the business plan. They are introduced to a range of external factors, such as stakeholders, technology, legislation and the economy. Finally, students are introduced to methods of growth and how and why business aims and objectives change as businesses evolve.

They will have the opportunity to do some project based learning creating their own hypothetical business and applying it to the theory covered.

Year 11

In Year 11 students complete Theme 2.

Students will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace. Students will understand the tools a business has to support financial decision making, including ratio analysis and the use and limitation of a range of financial information. Finally, aspects of growing a business such as organisational structure, recruitment, training and motivation are explored.

Students then start a structured revision programme to prepare for their Business GCSE examination.

Pupils gain insights into real world application of marketing, human resources, ownership structures and market structures by reading business news and developing data response and evaluation skills.

Assessment at GCSE

The Edexcel GCSE (9–1) in Business consists of two externally-examined papers, one covering Theme 1 content and one covering Theme 2 content, both sat in May/June of Year 11

Theme 1: Investigating small business

Written examination: 1 hour and 45 minutes  50% of the qualification 90 marks

Content overview

Topic 1.1 Enterprise and entrepreneurship

Topic 1.2 Spotting a business opportunity

Topic 1.3 Putting a business idea into practice

Topic 1.4 Making the business effective

Topic 1.5 Understanding external influences on business

Assessment overview

The paper is divided into three sections: Section A: 35 marks Section B: 30 marks Section C: 25 marks.

The paper will consist of calculations, multiple-choice, short-answer and extended-writing questions.

Questions in Sections B and C will be based on business contexts given in the paper.

Theme 2: Building a business

Written examination: 1 hour and 45 minutes  50% of the qualification 90 marks

Content overview

Topic 2.1 Growing the business

Topic 2.2 Making marketing decisions

Topic 2.3 Making operational decisions

Topic 2.4 Making financial decisions

Topic 2.5 Making human resource decisions

Assessment overview

The paper is divided into three sections: Section A: 35 marks Section B: 30 marks Section C: 25 marks.

The paper will consist of calculations, multiple-choice, short-answer and extended-writing questions. Questions in Sections B and C will be based on business contexts given in the paper.

 Further Reading/Resources

  • More information on the specification can be found on the Edexcel website
  • BBC news website to keep up to date with current affairs
  • Newspapers
  • Tutor2u website
  • BBC Bite size website

Key Stage 5 Business Management

Curriculum Overview

Students at Key Stage 5 follow the IB Business Management course as part of the IB Diploma.

 Term 1Term 2Term 3Term 4Term 5Term 6
Year 12

Introduction to business;

Types of organisations, organisational objectives, stakeholders

Introduction to finance and accounts, external environment, growth and evolutionRatios, cash flow, investment appraisal, budgets

Introduction to internal assessment

Human resource management

Introduction to marketing, marketing planning,  sales forecasting, market research

7p’s of Marketing, International Marketing

Year 13

Finalising internal assessment.

The role of operations management

Production methods, lean production, quality management

Introduction to human resource management, organisational structures, Leadership and management

Motivation and demotivation

Organisational culture

Communication

Industrial/employee relations

Revision  

Year 12

In Year 12 business management is set in context and students learn to analyse both organisations’ internal and external environment. Students cover traditional business areas, such as the different types of organisation, and the idea of economies of scale, but it also includes more contemporary topics such as the features of social enterprise. Both SL and HL students learn to apply fundamental strategy models such as STEEPLE and SWOT analysis. HL students learn to apply more specific tools such as fishbone diagrams, decision trees and force field analysis. Relatively early on in the course students will also examine finance and accounts through both quantitative and qualitative methods. They will learn how to construct basic balance sheets and profit and loss accounts themselves. By the end of the year they will be able to explain the meaning of these accounts by calculating ratios. Finally, students will be introduced to the concept of marketing and its importance to a successful business.

In this year students will also begin work on their internal assessment. For both the SL and HL internal assessment students are required to produce a business research project about a real issue or problem facing a particular business. It needs to be focused on one of the four key concepts which underpin the course; ethics, sustainability, creativity or change.

Year 13

This year students will explore how businesses recruit, organise, develop and lead their employees. They will also learn what motivates individuals to perform well at work. HL students will examine the organisational culture as well as industrial/employee relations. Students also learn how organisations manage their operations. Both SL and HL students look at different production methods and their implications as well as different ways of organising production. At HL students explore additional areas such as lean production, production management and research and development.

Students will also have the opportunity at the beginning of the year to finalise the work on their internal assessments.

Assessment at IB

The Business IB course assessment includes both coursework and written examination. The assessment criteria include knowledge/understanding, contextual analysis and evaluation. SL sit two externally assessed exams and complete one piece of coursework. HL sit three externally assessed exams and complete one piece of coursework.

Paper 1 SL & HL (1 hour and 30 minutes) 35% SL, 25% HL Syllabus content: Units 1-5

Based on a pre-released statement that specifies the context and background of the examination case study. Additional unseen material will be provided in the examination.

Section A - Students answer all structured questions in this section based on the case study (20 marks). All 5 units of the syllabus can be assessed, excluding HL extension topics.

Section B - Students answer one out of two extended response questions based on the case study (10 marks). All 5 units of the syllabus can be assessed, excluding HL extension topics.

Paper 2 SL (1 hour and 30 minutes) 35% Syllabus content: Units 1-5

Section A - Students answer all structured questions in this section based on unseen stimulus material (20 marks). All 5 units of the syllabus can be assessed (excluding HL extension topics, of course).

Section B - Students answer one out of two questions comprised of some structured questions and an extended response question based on the unseen stimulus material. (20 marks)

Paper 2 HL (1 hour and 45 minutes) 30% Syllabus content: Units 1-5 including HL extension topics

  • Section A - Students answer all structured questions in this section based on the unseen stimulus material (30 marks). All 5 units of the syllabus can be assessed, including HL extension topics.
  • Section B - Students answer one out of two questions comprised of some structured questions and an extended response question based on the unseen stimulus material, which includes HL extension topics (20 marks)

Paper 3 HL Only (1 hour 15 minutes) 25%

Paper 3 is based on unseen stimulus material about a social enterprise. The Paper 3 examination requires students to identify and describe a human need and the potential organizational challenges facing the social entrepreneur wanting to meet this need. They also need to produce a decision making document that provides a recommendation

HL students answer the one compulsory question based on the unseen stimulus material (25 marks). All 5 units of the syllabus can be assessed, including HL extension topics.

 

Internal Assessment 30% SL, 20% HL

This component is internally assessed by the teacher and externally moderated by the IB.

Further Reading/Resources

  • The Business Review
  • The Economist
  • News programmes
  • Broadsheet newspapers
  • Ted Talks on business topics

British Values

British Values in Business Studies

Democracy:

  • Democracy allows us to vote and express our preferences for government policies relating to business e.g. corporation tax rates, the strength of regulation and employment legislation.
  • Our government may sometimes impose economic sanctions on undemocratic government regimes, so that our businesses cannot carry out trade with these countries.
  • Trade unions, which help to protect worker rights, operate according to democratic rules with members able to vote on new policies.
  • Businesses have the opportunity to ask MPs to consider putting forward legislation that might help them to trade and operate more effectively.
  • Democracy is an important factor in the external environment of businesses.

Rule of law:

  • Businesses are more likely to develop and grow if they can operate in an economy with a strong institutional framework e.g. neutral and effective judiciary, trustworthy central bank and financial sector etc.
  • The rule of law means that contracts between businesses and customers in markets are upheld.
  • The rule of law is important for helping to protect intellectual property such as copyright and patents, which in turn supports more innovation by businesses.
  • The strategic decisions of businesses are influenced by the likely impact of legislation, such as Health & Safety legislation or environmental legislation.
  • The rule of law allows unfair behaviour of firms to be addressed by competition authorities and through the courts when necessary e.g. employment tribunals for unfair dismissal, fines for abuse of market power, breach of environmental legislation.

Individual Liberty:

  • For markets to work efficiently, individuals must be free to work wherever they choose and where their skills are best used.
  • For businesses to operate profitably, they must respond to the preferences and demands of different stakeholders.
  • Businesses need to adapt to changes in their external environment caused by people having freedom e.g. migration patterns, demographic changes, urbanisation and consumer lifestyles.
  • There may be conflict in businesses as individual liberty may be suppressed in order to achieve a business’s aims.
  • Employment changes such as flexible working arrangements and the gig economy may reflect increasing individual liberty.

Mutual respect:

  • Businesses provide goods and services for people with different views and beliefs, and adapting products for different people can allow firms to enter new markets.
  • Employees have a range of different views and this influences an organisation’s culture.
  • Businesses need to consider the views of different stakeholders to be successful, and be aware that different views influence the separation of ownership and control.
  • Businesses must be especially aware of different beliefs and views if they want to operate in international markets.
  • Growing businesses may struggle to achieve economies of scale and synergies if they do not consider the different views of their stakeholders.

Tolerance of those of different faiths and beliefs: Merged with mutual respect as the two overlap in business