Key Stage 4
Business Studies is a popular subject to study and deals with the management of business and of making money. As well as exploring business theories and terminology and concepts, students will learn to apply these to relevant events in the business and economic world. They will also study different businesses ranging from small enterprises to large multinationals and businesses operating in local, national and global contexts. Students will also need to demonstrate their understanding of business issues by analysing the consequences of business decisions as well as recommending and evaluating decisions. Pupils who have studied Business Studies often continue on this pathway through to A Level and is a very popular degree choice as it leads to a wide range of business careers.
Students will study some of the key areas within a business, such as marketing, finance, human resources and operations. They will also consider how a business is affected by external factors such as legislation, competition and the economy.
Students will need to be able to perform financial calculations as well as analysing data.
The AQA GCSE is all exam based – there is no coursework. Students study the following topics –
Business in the real world – The purpose and nature of businesses, Business ownership, Business aims and objectives, Stakeholders, Business location, Business planning, Expanding a business.
Influences on business – Technology, Ethical and environmental considerations, Economic climate, Globalisation, Legislation, Competitive environment.
Business operations – Production processes, The role of procurement, The concept of quality, Good customer services.
Human resources – Organisational structures, Recruitment and selection of employees, Motivating employees, Training.
Marketing – Identifying and understanding customers, Segmentation, The purpose and methods of market research, The elements of the marketing mix: price, product, promotion and place (4Ps).
Finance – Sources of finance, Cash flow, Financial terms and calculations, Analysing the financial performance of a business.