Business Studies looks into the world of work and provides students with an insight into how both small and large businesses operate on a daily basis. Students learn to become entrepreneurial in their everyday lives and learn to look out for potential opportunities which may present themselves. Business Studies is not just about money a good Business Studies student will learn a wider range of skills from how to manage a group of people to accounting techniques which will ensure good personal finance. They will be able to take these skills with them wherever their career path takes them.

Aims and Learning Outcomes
The course encourages students to:

Actively engage in the study of business and economics to develop as effective and independent learners and as critical and reflective thinkers with enquiring minds.
Use an enquiring, critical approach to distinguish between fact and opinion, build arguments and make informed judgements.
Develop and apply their knowledge, understanding and skills to contemporary issues in a range of local, national and global contexts.
Appreciate the range of perspectives of different stakeholders in relation to business and economic activities.
Consider the extent to which business and economic activity can be ethical and sustainable.
Assessment Objectives
The Business Studies specification requires candidates to:

• Demonstrate knowledge and understanding of the specified subject
• Apply knowledge and understanding using appropriate terms, concepts, theories and methods effectively to address problems and issues
• Select, organise, interpret and use information from various sources to analyse problems and issues
• Evaluate evidence; make reasoned judgements and present conclusions accurately and appropriately.
• Summary of Subject Content
  

Unit 1: Setting up a Business
Starting a business: This section provides students with an introduction to the issues concerning the setting up of a small business
Marketing: This section of the course provides students with an introduction to marketing within the context of a small business. Students should be aware of the role of marketing in business and consideration should be given to the role of technology in marketing.
Finance: Students will investigate how a small business might receive finance and advice when setting up. Students will become familiar with the basic financial terms and understand the importance of cash flow to a small business.
People in Business: This section considers ways in which small businesses might recruit, motivate and retain staff.
Operations Management: This section considers the importance of operational decisions in managing a small business. Students will learn why good operations management can help and business become more effective and how technology has changed this process.

Unit 2: Investigating Large Businesses
The Business Organisation: This section builds upon the work of unit 1 and considers how the methods of expansion and objectives of larger businesses might differ from smaller businesses.
Marketing: This section builds upon the marketing concepts introduced in unit 1 and relates them to the context of larger business. Candidates will investigate each component of the marketing mix and review how a large business may choose the most appropriate components of the marketing mix and alter its marketing mix in response to market forces.
Finance: This section introduces students to aspects of finance faced by the large businesses. Students will become familiar with the sources of finance available to large businesses, compared to small and start-up businesses. Basic simplified financial statements are introduced in this section and students will be expected to be able to analyse the content of these documents.
People in Businesses: This section introduces students to the human resources function in a large business. Students will also be introduced to the different organisational structures of a business and the processes by which businesses recruit, motivate and retain their employees.
Operations Management: This section introduces students to the organisation of production or service provision. Students will increase their understanding of production methods to include flow production. The concepts of economies of scale, efficiency and quality assurance are introduced here.

Unit 3: Investigating Small Businesses
This unit is a controlled assessment and assesses the subject content in unit 1. The work must be each student’s own work and must be produced under controlled conditions.

Scheme of Assessment
Paper 1: Setting up a Business 1 hour / 40%
Paper 2: Investigating Large Businesses 1 hour / 35%
Paper 3: Investigating Small Businesses 12 hr controlled assessment / 25%