Business studies is offered as an option for students in Years 9, 10 and 11. Over the three years of the course students prepare for the OCR GCSE (1-9) in Business (J204)
Business Studies develops students’ understanding of all of the core aspects of running a business. It has practical applications. Some students are able to put their knowledge to immediate use in local businesses. The subject also provides a good basis for further study in business and related fields.
Students take two examinations: Business 1, Business Activity, Marketing and People and Business 2, Operations, Finance and Influences on Business.
In Year 9, students learn:
Business Activity – Business Objectives; Need to add value; Options for start-up (partnership etc); Limited liability; Enterprise; Thinking creatively; Invention / Innovation; Calculated risk; Enterprise Skills; Entrepreneurs’ Qualities; Business growth; Business Planning and Business Stakeholders.
Marketing – The Role of Marketing; Market research; market segmentation and the Marketing Mix.
Students will also have the opportunity to undertake a small scale business venture called The Tenner Challenge.
In Year 10, students learn:
Human Resources – The Role of Human Resources; Recruiting, Training and development; motivation and retention; Motivational theory; Organisational structures and ways of working; Communication; Employment Law.
Operations – Production Processes; Quality; The sales process and Customer service; Consumer law; Business location and Working with suppliers.
In Year 11, students learn:
Finance – The Role of Finance, Sources of finance; revenue, costs, profit and loss, break-even and cash flow. Ratio analysis is now part of the GCSE specification.
Influences on Business – Ethical and environmental considerations; the economic climate and globalisation.
In addition, students will investigate the interdependent nature of business for the second of the two examination papers.