Business
Learning Journey & Sequencing Rationale
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.
Sequencing in GCSE Business
Sequence
Business is taught over two years. Theme 1 in Year 10 & Theme 2 in year 11. This is detailed on the programme of study.
Link to programme of study:
https://docs.google.com/spreadsheets/d/16mJkswOHhpXN8CQqXQhCbBS-EwHvuUJs/edit#gid=404704968
Key Stage 4
Year 10
Year 10 is the first year of the GCSE Business course. Theme 1 is taught throughout this year. A linear approach is adopted throughout this theme. 1.1 considers the basic knowledge within business. For example, looking at the nature of business, the role of business and customer needs. As we finish 1.1 looking at customer needs is the natural step that leads to market research which is the foundation of 1.2. 1.3 builds on the knowledge of 1.1 & 1.2 concentrating on business aim & objectives. As we have now identified the wants & needs of the customer/consumer, which helps learners to understand the aims & objectives a business may decide upon, it builds learners up to consider the cost of meeting these wants and therefore the likely revenue which may be generated. 1.4 & 1.5 concentrates on the ownership a business may decide upon, which can heavily be influenced by the costs associated (1.3). The end part of 1.5 starts to draw attention to the wider considerations to business such as external factors, the economy, the environment. This helps to provide a smooth transition to Theme 2 which is taught in year 11.
Year 11
Year 11 is the second year of the GCSE Business course. Theme 2 is taught throughout this year and examines how a business develops beyond the start-up phase, which is building on Theme 1. A linear approach is adopted throughout this theme. In 2.1 learners are introduced to methods of growth and how and why business aims and objectives change as businesses evolve. External factors are further developed in 2.1 with the impact of globalisation and the ethical and environmental questions facing businesses are explored. This leads naturally to 2.2 whereby learners explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace. 2.3 concentrates specifically on operational decisions and how to better supply customers with the product and the best logistical/feasible approach to supply and quality decisions to meet a growing audience. Leading straight into 2.4 whereby 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. Finally, as the business grows the natural step and final step of the course would be to consider the personnel required. 2.5 allows learners to explore the human resources decisions a growing business will need to make, relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These are the aspects considered in this final topic.
unit overview - unit 1.1
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Subject: Business 1.1 |
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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 |
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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 |
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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 - unit 1.2
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Subject: Business 1.2 |
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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 |
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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. |
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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 overivew - unit 1.3
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Subject: Business 1.3 |
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Skills |
Identify the difference between an 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 |
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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 |
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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 1.4
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Subject: Business 1.4 |
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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 |
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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 |
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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 - unit 1.5
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Subject: Business 1.5 |
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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 |
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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 |
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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 |