Examination Board:- AQA
Business Studies is an exciting and fast moving subject which looks at the way in which businesses start and operate to satisfy customers and make profits for investors. You will be shown how business decisions are made and have the opportunity to practise your own business decision making in the context of a variety of simulated business situations. How would you set the price for a new games console? How would you raise the capital finance to start your own business? How can a new product idea be protected? Which businesses provide good investment opportunities? Your business decision making skills will gradually be improved and you will begin to understand business articles in newspapers, become confident in assessing business opportunities for yourself and discover a whole new area of study and possible careers for the future.
Methods of assessment
There are two one-hour written examinations at the end of Yr11. They each contain a number of questions with mark allocations between 2 and 9 marks. Unit 1 is about Setting up a Business (40%) and Unit 2 is concerned with Growing a Business (35%) There is also a controlled assessment (25%) which is researched and written up in class.
Why study Business Studies?
Business is all around us. You and your family are part of it – a customer, possibly an investor through savings, enjoying some of the wealth created by businesses in the economy or interested in your parents’ links with businesses. Studying Business Studies will allow you to play your part in the economy more effectively, become more informed as a customer, act more wisely as an investor and be sharper as a possible entrepreneur or business executive. Business Studies will refine your decision making and allow you to take more control when you deal with businesses or think about starting a business. It is a very popular subject both here at school and at college.
Business Studies includes:
Business Enterprise – forming a company, multinational businesses and franchising;
Marketing – finding out what people want and how to satisfy them in terms of product design, price, promotion and where to sell the product;
Finance – sources of finance, profit and loss accounts, balance sheets, how to judge the financial health of a business and make investment decisions;
Production – where and how to produce goods and services, computerisation and stock control;
People – how to motivate, organise, select, train and reward workers;
Business Environment – the nature of markets, e-business, business law and the economy.
Parents can help the department as follows:
- Homework will be set on a regular basis and will enhance their learning of the topics covered, it is therefore important all students complete all tasks set. Where there is a research element parents may like to help students to collect information as some students may find this difficult.
- A good attendance is necessary for high achievement.
- Encourage your children to watch business programs where possible – Dragons Den, business news etc. and discuss what you saw
- Self management of time and resources is necessary to maintain a business-like atmosphere and some students may need encouragement with this.
Awareness of local businesses and global economic issues can help gain an in depth understanding of the theory covered