The following are concepts that are common to KS4 and KS5. They are introduced at KS4 and revisited at KS5 where the evaluation of their importance and impact on business performance is considered.
What is Enterprise?
Students exam the concept of Enterprise and the different types of Business forms that exist. This topic is revisited and built upon in Unit 1 Exploring enterprise at KS5 where students have to identify two different business enterprises.
Marketing and promotions.
Students learn about the different ways in which businesses communicate with their customers through sales promotions and advertising. They learn about the importance of market research and the different forms of research. Market research is revisited at KS4 in Component 2 and at KS5 in Unit 2. They evaluate the different forms of marketing and promotions and at KS5 they develop their own marketing campaign, evaluate it and justify their chosen methods.
Finance for business
Students learn about key financial documents used in business and how to interpret and draw up these documents. The advantages and disadvantages of the use of these documents is examined at KS4. The key documents such as cash flow forecasts, break-even forecasts, statements of financial position and income statements are used to evaluate the performance of a business at KS5.
External influences on Business
Students learn about the external factors that impact on a business’ ability to achieve its aims and objectives. Factors such as competition, the economy, technological change and legislation are examined and their impact on businesses evaluated at KS4 and at KS5.
Key Stage 4 Enterprise
Learning outcomes – Exploring Enterprises (Component 1)
A Understand how and why enterprises and entrepreneurs are successful
B Understand customer needs and competitor behaviour through market research
C Understand how the outcomes of situational analyses may affect enterprises.
Learning outcomes – Planning and Presenting a Micro-Enterprise Idea (Component 2)
A Choose an idea and produce a plan for a micro-enterprise idea
B Present a plan for the micro-enterprise idea to meet specific requirements
C Review the presentation of the micro-enterprise idea to meet specific requirements.
Assessment objectives – Marketing and Finance for Enterprise – (Component 3)
AO1 Knowledge: Demonstrate knowledge of marketing terms and principles and financial information in relation to a given enterprise
AO2 Understanding: Demonstrate understanding of marketing terms and principles and financial information in relation to a given enterprise
AO3 Analyse and interpret marketing information and financial data, making connections to inform solutions
AO4 Evaluate marketing and financial information in context to make reasoned judgements and decisions
AO5 Perform procedures
Key Stage 5 Business
Unit 1: Exploring Business
Learning aims:
A Explore the features of different businesses and analyse what makes them successful
B Investigate how businesses are organised
C Examine the environment in which businesses operate
D Examine business markets E Investigate the role and contribution of innovation and enterprise to business success.
Unit 2: Developing a Marketing Campaign
Assessment outcomes:
AO1 Demonstrate knowledge and understanding of marketing principles, concepts, processes, key terms, data sources and definitions
AO2 Analyse marketing information and data, demonstrating the ability to interpret the potential impact and influence on marketing campaigns
AO3 Evaluate evidence to make informed judgements about how a marketing campaign should be planned, developed and adapted in light of changing circumstances
AO4 Be able to develop a marketing campaign with appropriate justification, synthesising ideas and evidence from several sources to support arguments
Unit 3: Personal and Business Finance
Assessment outcomes:
AO1 Demonstrate knowledge and understanding of business and personal finance principles, concepts, key terms, functions and theories. Command words: describe, explain, give, identify, outline Marks: ranges from 1 to 4 marks
AO2 Apply knowledge and understanding of financial issues and accounting processes to real-life business and personal scenarios Command words: analyse, assess, calculate, describe, discuss, evaluate, explain Marks: ranges from 2 to 12 marks
AO3 Analyse business and personal financial information and data, demonstrating the ability to interpret the potential impact and outcome in context Command words: analyse, assess, discuss, evaluate Marks: ranges from 6 to 12 marks
AO4 Evaluate how financial information and data can be used, and interrelate, in order to justify conclusions related to business and personal finance Command words: analyse, assess, discuss, evaluate Marks: ranges from 6 to 12 marks
Unit 4: Managing an Event
Learning aims:
In this unit you will:
A Explore the role of an event organiser
B Investigate the feasibility of a proposed event
C Develop a detailed plan for a business or social enterprise event
D Stage and manage a business or social enterprise event
E Reflect on the running of the event and evaluate own skills development.
Unit 5: International Business
Learning aims
In this unit you will:
A Explore the international context for business operations
B Investigate the international economic environment in which business operates
C Investigate the external factors that influence international businesses
D Investigate the cultural factors that influence international businesses
E Examine the strategic and operational approaches to developing international trade.
Unit 6: Principles of Management
Assessment outcomes
AO1 Demonstrate knowledge and understanding of management and leadership principles, concepts, key terms, functions and theories
AO2 Apply knowledge and understanding of management and leadership issues to real-life business scenarios
AO3 Analyse and evaluate management information and data, demonstrating the ability to interpret the potential impact and influence on business effectiveness in context
AO4 Be able to recommend management and leadership proposals in context with appropriate justification, using a range of evidence to support arguments
Unit 8: Recruitment and Selection Process
Learning aims
In this unit you will:
A Examine how effective recruitment and selection contribute to business success
B Undertake a recruitment activity to demonstrate the processes leading to a successful job offer
C Reflect on the recruitment and selection process and your individual performance.
Unit 9: Team Building in Business
Learning aims
In this unit you will:
A Examine the benefits of teams in a business setting
B Investigate techniques and theories used for the development of an effective business team
C Develop effective team skills through practical activities.
