Business Studies gives youngsters the chance to understand the dynamic environment in which business operates and to appreciate the many factors which impact upon business activity and business behaviours. The study of Business enables learners to try to gain an understanding of the issues facing UK business in the 21st century.
Areas of business which are studied include: people in Business; marketing; starting and growing a business; and finance. Youngsters also investigate how businesses interact with their employees and the financial aspect of business operations – profits, cash flows and breaking-even.
The course is currently divided in to two parts – ‘Influences of Operations and Human Resource Management on business activity’ and ‘Influences of Marketing and Finance on Business Activity’.
Influences of Operations and HRM on Business Activity
Learners develop their understanding across four key topics during this aspect of the course: Business in the real world; Influences on Business; Business Operations; and Human Resources. These topics offer learners the opportunity to analyse how businesses recruit their workforce, how they develop customer loyalty and how they choose the business structure that best suits their current aims and objectives. Learners will also develop entrepreneurial skills and have an opportunity to investigate existing entrepreneurs. Learners are assessed through a 1 hour and 45 minute paper at the end of the course.
Influences of Marketing and Finance on Business Activity
Learners explore the world of marketing and finance from the perspective of an expanding business rather than simply a start up operation. Learners study how businesses apply different marketing strategies to try and secure a competitive edge; how they utilise different ways to apply for and manage finances; and also how to conduct both primary and secondary research in order to develop an advantageous understanding of the current market and possible changes in trend. Learning is once again assessed through a 1 hour and 45 minute written paper at the end of the course.