Business

You will develop the knowledge and skills needed to understand how businesses operate through practical activities and opportunities to visit local businesses and industries.

Units will include:

Year 1

The business environment:

Explore how and why businesses operate, looking at different types of businesses, ownership structures and objectives. You will examine the legal, financial, ethical and resource-related factors that influence business decisions, as well as how businesses respond to economic, social and technological change. You will also consider the importance of business planning, the influence of stakeholders and how business performance can be assessed.

Working in business:

Covering the essential skills and knowledge needed to work effectively within a business environment. Learners will cover how to schedule meetings, handle important documents, manage payments, prioritise tasks, and interact with stakeholders.

Business decisions:

Being able to make decisions effectively relies on gathering, processing and analysing the right information. Learners will explore what makes a good business decision, how to interpret data an investigate potential drawbacks and benefits before reaching a preferred decision. It’s all about making smart moves in the world of business!

Customers and communication:

Explore the importance of effective communication in business, including the purpose and use of different communication methods in a range of situations. You will develop practical communication skills to build positive customer relationships while learning about the legal, ethical and security considerations involved in handling and sharing business information.

Marketing and market research:

Explore how market research helps businesses make informed marketing decisions and shape their strategies. You will learn about primary and secondary research methods and how they influence business activities. Develop practical skills in selecting appropriate research methods, conducting market research, analysing data and presenting your findings clearly and effectively.

Accounting concepts:

Develop essential skills and knowledge regarding the objectives of accounting and the procedures involved in generating final accounts.  You will learn why accurate financial records are essential and the importance of updating cash books and preparing bank reconciliation statements.

Principles of project management:

Learn about the different stages of project management, the skills required to manage projects successfully and the tools used to plan and organise work. You will apply your knowledge by developing and implementing a project plan, considering the internal and external factors that may affect its success.

Responsible business practices:

Explore how businesses can operate responsibly and make a positive contribution to society. You will consider how organisations meet legal and regulatory requirements, act ethically, support economic development and promote the wellbeing of employees, their families and the wider community.

Year 2 

Marketing strategy:

Explore how businesses develop marketing strategies to achieve their objectives and compete in the marketplace. Research a business’s market, customers and competitors, and consider how targeting, positioning and the marketing mix can support its success.

Marketing campaign:

Develop a marketing campaign for a business by identifying its target audience, setting clear objectives and selecting suitable promotional methods. Consider the campaign’s message, budget and timescale, and how its success could be measured.

Human resources:

Looking at recruitment and selection processes from a business’ perspective. Explore different approaches that businesses can take to recruitment and selection and understand how hiring the right employees contributes to a company’s success.

Economics for business:

Introducing the basic economic principles of demand and supply and applying these to a range of markets, exploring different competitive market structures and learn how businesses behave within each structure.  You will also investigate how changes in the national economy and government policies affect businesses, developing an understanding of key economic indicators such as unemployment, inflation and exchange rates.

Change management:

Learn how businesses manage change to achieve their objectives. You will interpret quantitative and qualitative data to assess how effectively change is managed and explore strategies for implementing change successfully. You will also consider how to gain stakeholder support and address resistance to change throughout the process.

International business:

Gain an understanding of key decisions that businesses must make when deciding whether or not to operate internationally. Research a business and consider how it may benefit from operating internationally as well as the challenges that it may face; valuable experience should you wish to undertake further study in this area or follow a career in a business which either operates or aims to operate internationally.

Delivering a business project:

Work as part of a team to plan, deliver and evaluate a business project, such as developing a marketing campaign or organising a sponsored charity event. You will learn how to allocate roles and responsibilities, set objectives and manage each stage of the project, from planning and implementation to monitoring and evaluation. This practical experience will help you develop teamwork, organisation and project management skills.