Key Stage 4 Business Studies

Why should I study GCSE Business Studies?
Ever thought of running your own business?   Are you interested in the business  world around you?  Then Business Studies might just be for you. Even if you are not sure what you would like to do as a career, Business Studies opens up many doors, after all, wherever you work, it will be an organisation of some kind.

What will I learn about?
The course covers a fantastic range of topics that focus on both small and large businesses and gives you a real insight into how businesses operate in the real world.

How will my work be assessed?

THEME 1 : Investigating Small Businesses (Exam 50% – 1hr and 30mins = 90 Marks)

  • Why start a Business: Why businesses set up and how entrepreneurs start a business, from Business Plans right through to location.  Different types of businesses are also investigated.
  • Marketing: Methods of market research and the Marketing mix, product, price, place and methods of promotion.
  • Finance: Looking at the lifeblood of the business – cash! Cash-flow forecasts, costs and sources of finance along with sources of financial support that businesses are given.
  • People In Business: This is the most important asset of any business. Looking at the recruitment process, how people get paid, employment and the law.
  • Production: The different ways businesses make products, e-commerce (the new way of buying and selling) and customer service.

THEME 2: Building a Business (Exam 50% – 1hr and 30mins = 90 Marks)

  • Growing the Business: Looking at how businesses grow to become Global companies
  • Marketing 2: Looking at the Marketing Mix of Product, Price, Place and Promotion and how they combine.
  • Production 2: Why being a bigger business helps production be more efficient.
  • Finance 2: Taking finance a stage further by looking at profit and loss accounts, balance sheets and analysing the accounts to see how well the business is doing.
  • People in Business 2: How to keep your staff happy, staff training and motivation.

The course is full of real world examples and we expect ALL students to take an interest in the news and the business world around them.  Your ability to use Maths in a practical way is also important for the course as you do financial accounting.

Who can I speak to for more information?

For further information about Business Studies please speak to Mr Staniforth, Subject Leader: Business Studies

Key Stage 4 Economics

What will I learn about?

Ever wondered how our country’s Economy works? How YOU and all of the businesses around you are all part of the World’s Economy, joined together to trade with each other, from iPhones imported from China to selling cars from the UK to America. If this is what interests you, then GCSE Economics might just be for you.

Even if you are not sure what you would like to do as a career, Economics is an excellent subject that opens up so many doors in the business world as you learn about economic activity through the eyes of consumers, producers and governments. After all, whether you work in the UK or abroad, it will be an organisation that is part of the UK or global economy.

What will I learn about?
The course covers a fantastic range of topics that look at why business produce Goods and Services for us and how they decide what to produce, based on our needs and wants and how much to charge us for these things.

YEAR 1: HOW MARKETS WORK (Exam 50% – 1hr and 30mins = 80 Marks)
Economic Foundations: The nature and purpose of our economic activity based on the production of goods and services and the satisfaction of all our needs and wants e.g. We NEED food but want a new TV.
Allocating Resources: We look behind reasons we produce goods and services and the decision as to what a country decides to produce e.g. wine from France, electronic gadgets from China. Also the benefits of having things made in these economies.
How Price Is Determined: Have you ever wondered why you pay the price you do? We look at the Supply and demand of goods and services and how the equilibrium price is determined e.g. petrol
Production Costs and Revenues: How a business decides how much to grow depends on many things  such as the demand for their product and whether they can actually save money by growing – Economies of
Scale.
Competition: how competition affects many things such as price and how the level of competition between businesses can be good and bad for consumers.
Market Failure : Here you investigate what is the impact of businesses on society and the environment  (Externalities).

YEAR 2 : HOW THE ECONOMY WORKS (Exam 50% – 1hr and 30mins = 80 Marks)
Here you look at how the Government tries to manage the economy. We see it all of the time on TV about what the government does. In Year 2 we discover just what tools the government has to help a country
grow.
Introduction to the economy : We look at how the government uses Interest Rates, spending, borrowing and investment to help an economy grow.
Government Objectives : What does the government actually want to achieve? Does it want high employment, low unemployment, low inflation, economic growth, low environmental impact and a fair distribution of wealth?
How Governments manage the Economy : We look at how it controls the level of taxes we pay, the level of spending to help grow employment and businesses and the interest rates we pay on borrowing to help keep inflation low and growth high.
International trade and global economy : We look at why countries trade with each other, the role that money plays in helping an economy develop and how the banking system can support the population and
businesses to achieve growth.

Who can I speak to for more information?
For further information about the course please speak to Mr Staniforth, Subject Leader: Business & Economics

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