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Business

 

subject overview

Learners are introduced to the dynamic nature of business in relation to how and why business ideas come about. They also explore the impact of risk and reward on business activity and the role of entrepreneurship.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world

unit overview - term 1 unit 1.1

Subject: Business 1.1

Skills

Discuss how and why products come about

Explain why products are new or adapted.  Give examples of new and adapted products

Recall the risks and rewards for an entrepreneur

Question why someone would choose to become an entrepreneur

Evaluate whether is important to meet customer needs or develop a unique product

Answer  6,9 & 12 mark exam questions

Knowledge

The dynamic nature of business  - why and how new business ideas come about

Risk and reward – the impact of risk and reward on business activity

The role of business enterprise – the purpose of business activity and the role of entrepreneurship

Rationale

Enterprise and entrepreneurship – Learners are introduced to the dynamic nature of business in relation to how and why business ideas come about. They also explore the impact of risk and reward on business activity and the role of entrepreneurship.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 1 Examination questions.

unit overview - term 1 unit 1.2

Subject: Business 1.2

Skills

Define market research (primary and secondary)

Recall the methods of primary and secondary research

Know the difference between qualitative and quantitative data

Identify market segments

Create a SWOT analysis for a business

Answer  6,9 & 12 mark exam questions

Knowledge

Customer needs – identifying and understanding customer needs

Market research – the purpose, methods and the use of data in market research

Market segmentation – how businesses use market segmentation to target customers

The competitive market environment – understanding the strengths and weaknesses of

competitors, and the impact of competition on businesses.

Rationale

Spotting a business opportunity – Learners will explore how new and small businesses identify opportunities through understanding customer needs and conducting market research. They will also focus on understanding the competition.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 1 Examination questions.

unit overview - autumn term 1 unit 1.3

Subject: Business 1.3

Skills

Identify the difference between a aim and objective

Recall financial and non-financial objectives

Calculate – revenue, fixed variable and total costs, profit and loss, interest, break-even

level of output and margin of safety

Interpret break- even diagrams

Explain what will happen if a business’s cash outflows are greater than its cash inflows

Calculate and interpret cash-flow forecasts

Describe the short and long term sources of finance

Answer  6,9 & 12 mark exam questions

Knowledge

Business aims and objectives – what business aims and objectives are, business aims and objectives when starting up a business, and why aims and objectives differ between businesses

Business revenues, costs and profits – the concept and calculation of key financial aspects of running a business and the interpretation of break-even diagrams

Cash and cash flow – the importance of cash to a business and the calculation and interpretation of cash flow forecasts

Sources of finance  - sources of finance for a start-up or established small business

Rationale

Putting a business idea into practice – this topic focuses on making a business idea happen through identifying aims and objectives and concentrating on the financial aspects.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 1 Examination questions.

unit overview - unit 2.1

Subject: Business 2.1

Skills

Discuss why joining businesses together might achieve a growth objective

List sources of internal and external sources of finance for a growing business

Analyse the benefits and drawbacks for a business using internal/ external sources of

finance

Discuss the factors that influence why a business changes its aims and objectives

Define: globalisation, imports and exports

Discuss barriers to international trade

Describe how both ethical and environmental considerations can lead to trade-offs

Describe how a pressure group can influence a business’s marketing mix

Answer 6, 9 & 12 mark exam questions

Knowledge

Business growth – methods of business growth and their impact, the types of business ownership for growing businesses and sources of finance for growing and established businesses

Changes in business aims and objectives – why and how business aims and objectives changes as businesses evolve

Business and globalisation – the impact of globalisation on businesses, barriers to international trade and how businesses compete internationally

Ethics, the environment and business – the impact of ethical and environmental considerations on businesses

Rationale

Growing the business – Learners are introduced to methods of growth and how and why business aims and objectives change as businesses evolve. The impact of globalisation and the ethical and environmental questions facing businesses are explored.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 2 Examination questions.

unit overview - autumn term 2 unit 2.2

Subject: Business 2.2

Skills

Identify where products are placed on the design mix and explain why

Draw and label the product life-cycle

List how a business differentiates its product from its competition

Evaluate the importance of product differentiation to a business

Explain the relationship between the design mix and product life cycle

Identify factors that may influence the price of a product

Explain the difference between a high- volume pricing strategy and a high-margin pricing

strategy

List the 5 different types of media that a business could use fir advertising

Identify ways in which a business could use technology to promote its products or services

Describe why place is a key aspect of the marketing mix

Evaluate why the four elements of the marketing mix are interconnected

Answer 6, 9 & 12 mark exam questions

Knowledge

Product -the design mix, the product life cycle and the importance of differentiating a product or service

Price – pricing strategies and influences on pricing strategies

Promotion- promotion strategies for different market segments and the use of technology in promotion

Place- methods of distribution

Using the marketing mix to make business decisions- how each element of the marketing mix can influence other elements, using the marketing mix to build competitive advantage and how an integrated marketing mix can influence competition

Rationale

Making marketing decisions – Learners will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 2 Examination questions.

unit overview - spring term 1 unit 1.4

Subject: Business 1.4

Skills

State the difference between unlimited and limited liability

Recall different types of business ownership

Explain the difference between, franchise, franchisee and franchisor

Analyse the benefits and drawbacks of running a franchise

Recognise factors that influence a business’s location

State the elements of the marketing mix

Discuss the impact of changing consumer needs and technology on the marketing mix

Write a list of the components of a business plan

Answer  6,9 & 12 mark exam questions

Knowledge

The options for start-up and small businesses- the concept of limited liability, the types of business ownership for business start- ups and the option of starting up and running a franchise operations

Business location – Factors influencing business location

The marketing mix – what the marketing mix is, the importance of each element of the marketing mix and how the elements of the marketing mix work together

Business plans – the role and importance of a business plan and the purpose of planning business activity

Rationale

Making the business effective – Learners will explore a range of factors that impact on the success of the business, including location, the marketing mix and the business plan.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 1 Examination questions

unit overview - spring term 1 unit 1.5

Subject: Business 1.5

Skills

List the main 8 stakeholders

Describe how legislation can lead to increase in costs for businesses

Identify possible conflicts between stakeholders

List the different types of technology used by businesses and discuss the influence it has on

business activity

Describe the principles of consumer and employment law that influence a business

Discuss how legislation can lead to increases in costs for business’s

Describe how the value of the pound becoming lower or weaker  may benefit a business

Explain how the rise/ fall in interest rates impact on the cost of borrowing

Discuss how do exchange rates affect businesses?

Answer  6, 9 & 12 mark exam questions

Knowledge

Business stakeholders – who business stakeholders are and their different objectives, and the relationship between stakeholders and businesses

Technology and businesses – different types of technology used by business and how technology influences business activity

Legislation and business – the purpose of legislation and the impact of legislation on businesses  

The economy and business – the impact of the economic climate on businesses

External influences – the importance of external influences on business

Rationale

Understanding external influences on business – Learners are introduced to a range of factors, many of which are outside of the immediate control of the business, such as stakeholders, technology, legislation and the economy. Students will explore how businesses respond to these influences.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 1 Examination questions

unit overview - spring term 2 unit 2.3

Subject: Business 2.3

Skills

List methods of production

Analyse product processes

Describe the impact that technology can have on production

Discuss issues a business may face when introducing new technology

List factors that contribute to a business’s relations with its suppliers

Discuss how technology may improve the way in which a business procures its stock 

Know the difference between quality assurance and quality control and the benefit of both

to a business

Discuss why quality is important to a business

Draw the sales process

Describe why it is important for sales staff to have good product knowledge

Answer 6, 9 & 12 mark exam questions

Knowledge

Business operations- the purpose of business operations, different types of production process and the impact of technology on production

Working with suppliers – managing stock and the role of procurement

Managing quality - the concept of quality and its importance

The sales process – the nature of the sales process and the importance to businesses of providing good customer service

Rationale

Making operational decisions – this topic focuses on meeting customer needs through the design, supply, quality and sales decisions a business make

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 2 Examination questions.

unit overview - spring term 2 unit 2.4

Subject: Business 2.4

Skills

Know the difference between gross and net profit

Calculate gross profit, net profit and the average rate of return

Describe how a business could use market data to make business decisions

Discuss the limitations of financial information

Describe why business may to prefer to use quantitative data rather than qualitative data

Answer 6, 9 & 12 mark exam questions

Knowledge

Business calculations – the concept and calculation of gross profit and net profit, and the calculation and interpretation of the gross margin, the net profit margin and the average rate of return

Understanding business performance – the use of interpretation of quantitative business data to support, inform and justify business decisions and the use of limitations of financial information

Rationale

Making financial decisions – Learners will explore the tools a business has to support financial decision making, including ratio analysis and the use and limitation of a range of financial information.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 2 Examination questions.

unit overview - summer term unit 2.5

Subject: Business 2.5

Skills

Know the difference between hierarchical or flat structure

Know the difference between a centralised or decentralised structure

List the disadvantages to a business of having excessive communication in a business

Recall different methods of recruitment

List recruitment documents

Discuss the benefits of formal and informal training

Explain why businesses train and develop employees

Describe why businesses need to motivate its employees

Describe the difference between financial and non - financial methods of motivation

Answer 6, 9 & 12 mark exam question

Knowledge

Organisational structures- different organisational structures and when each are appropriate, the importance of effective communication and different ways of working

Effective recruitment- different job roles and responsibilities, and how businesses recruit people

Effective training and development – how and why businesses train and develop employees

Motivation – the importance of motivation in the workplace and how businesses motivate employees

Rationale

Making human resource decisions – growing a business means that decisions relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These aspects are considered in this final topic.

This enhanced knowledge will help learners to apply their understanding to any given business scenario and a wider acknowledgement in the real world. Furthermore, learners will be able to answer GCSE Theme 2 Examination questions.

knowledge organisers

A knowledge organiser is an important document that lists the important facts that learners should know by the end of a unit of work. It is important that learners can recall these facts easily, so that when they are answering challenging questions in their assessments and GCSE and A-Level exams, they are not wasting precious time in exams focusing on remembering simple facts, but making complex arguments, and calculations.

We encourage all pupils to use them by doing the following:

  • Quiz themselves at home, using the read, write, cover, check method.
  • Practise spelling key vocabulary
  • Further researching people, events and processes most relevant to the unit.