Business Studies GCSE
Exam Board: Edexcel Business Studies (2BS01)
The department aims that each student enjoys Business Studies and that they take an active interest in the subject. The students are encouraged to recognise their potential and set challenging but realistic targets.
Students develop skills and knowledge of work related learning, enterprise capability and economic wellbeing. All of which will prepare them for later life. It is hoped that students will pursue careers in Business related fields in life beyond school.
The Edexcel GCSE Business Studies course begins by looking at small start-up businesses. There is a particular emphasis on the qualities necessary to be a successful entrepreneur. The course will give opportunities for active learning as students will be asked to think of new business ideas and plan marketing campaigns for them. Furthermore students will be asked to research local small businesses.
This complements the enterprise education programme the school offers which aims to develop the enterprise capability of all our students. We want our students to be creative, confident, proactive and good team players. For those students who hold an ambition to work for themselves then this course could be the first step in their quest to be the next Anita Roddick!
We will look at all aspects of business, particularly in the context of small businesses e.g. Human Resources, Marketing, Finance, Production and the wider world affecting the business. In looking at Human Resources students will examine motivation and leadership styles. On completion of the course they will be aware of possible strategies to get the best out of others as well as themselves.
For a business to be successful it needs to produce a product or service that is in demand. Market Research is responsible for finding out what consumers want and so different methods of research are studied. Marketing is then studied in terms of the 4P’s, price, product, promotion and place.
For Finance, students learn how to calculate costs and revenue and present data in the form of break-even charts and cash flow forecasts. There is scope here to incorporate ICT skills with the use of Excel. Indeed ICT is used well throughout the course.
Not everything is of course within an entrepreneur’s control and we will examine how the external factors can affect a business. In particular we will look at how exchange rates, interest rates, levels of unemployment, regulation, the environment, and the EU can all affect business. The course covers all aspects of business and is realistic, interesting and relevant to the real world. The department has a good range of resources including exam board approved text books and lesson plans.
As with other subjects controlled assessment has replaced coursework. More advice will be given on this as the course proceeds.
The course comprises three units:-
- Unit 1 – Introduction to Small Business (25% of GCSE)
This unit will aim to teach students ways of setting up their own business. The examination of this unit will be a 45-minute paper based on multiple choice and objective test questions.
- Unit 2 – Investigating Small Business (25% of GCSE)
The material of this unit will be as for Unit 1. This will be the controlled assessment component. There will be an Edexcel set task involving investigation and research. It will be conducted during curriculum time over approximately 3 weeks.
- Unit 3 – Building a Business (50% of GCSE)
The main topics covered are:-
- Meeting customer needs
- Effective financial management
- Effective people management
- The wide world affecting business
The examination will be 1 hour 30 minutes long and will include multiple choice, short and extended questions, data response and scenario based questions