Business Studies

 

 The Subject

 

Business Studies AS or A level will prepare any student for the world of work and enterprise, and is an excellent basis for a career or a university degree course in Business, Finance, Economics or the Social Sciences.

 

Why Business Studies ?

Business Studies will not make you a millionaire by the time you are 21. It will, however, provide an exciting insight into the dynamic world of business, giving the basic skills necessary to produce a business plan, and manage a company. You will learn the importance of marketing, how to identify, target and satisfy customer requirements, and how to motivate people, in order to maximise their output. You will learn that every business decision has financial implications, and you will be taught how to calculate profit, forecast cash flow and analyse a firm’s published accounts. Apart from learning the theoretical aspects of business, examining case studies encourages students to use their initiative in problem-solving and gives rise to lively class discussions.

 

The course

Students starting a two-year course inSeptember will take an AS level in the first year. The subject content is presented in four modules: two in the AS and two for the A2. At AS Level, this specification introduces candidates to the challenges and issues of starting a business, including financial planning. Itthen focuses on how established businesses might improve their effectiveness by making tactical decisions at a functional level.
 

Unit 1 Planning and financing a business

• Starting a Business – The challenges andissues of starting a business; enterprise;entrepreneurs.

• Financial Planning – Essential financial concepts needed to start a business including: calculating costs, revenues, profits;using a break-even analysis and cash-flow forecasting.
 

Unit 2 Managing a business

• Finance – budgets, improving cash flow and profits.

• People in Business – organisational structures, recruitment, training and motivation.

• Operations Management – operational decisions, quality, customer service, suppliers,technology.

• Marketing and Competition – designing and using an effective marketing mix, market conditions and competitiveness.

At A2, this specification considers strategies for larger businesses and how managers might measure the performance of the business. Finally,it considers the effects that external factors can have on businesses and how a business can plan for and manage change, including leadership style and change in business culture.
 

Unit 3 Strategies for success

• Functional Objectives and Strategies –examining their appropriateness in the context of corporate objectives.

• Financial Strategies and Accounts –making investment information, measuring performance, financial decisions.

• Marketing Strategies – analysing markets,and selecting successful marketing strategies,developing marketing plans.

• Operations Strategies – operational issues,location, innovation, improving operational efficiency

• Human Resource Strategies – workforce planning, adapting organisational structures,successful employee relations.
 

Unit 4 The business environment and change

• Corporate Aims and Objectives – purpose and nature of corporate strategies,stakeholder perspectives.

• Assessing Change in the Business Environment – the effects of changes in the economic, political, social, ethical and technological environment and responses of organisations.

• Managing Change – planning for change,leadership and corporate culture, making strategic decisions, decision making.

 

 

  

Preferred Board: AQA