--- title: "Business Studies" url: "https://www.st-wilfrids.org/curriculum/subjects/business-studies" school: "St. Wilfrid's R.C. College, South Shields" --- # Business Studies ![Art & Photography banner](https://www.st-wilfrids.org/images/gallery/curriculum-image/250623St_Wilfrid_RC_School___038-2.jpg) # Business Curriculum Empowering Future Leaders Through Excellence in Business Education ![Art and Photography](https://www.st-wilfrids.org/images/lo.png) ## Why study Business? ### What business develops - Skills like decision-making, problem-solving and communication - An understanding of how businesses work - Financial awareness - Enterprise and creativity ### Student voice “Business lessons help me to think differently about everyday things. It's like seeing the world with new eyes.” **Year 10 Pupil** - KS4 Business - KS5 Business Key Stage 4 Business Cycle Overview Cycle 1 #### Year 10 – Business Activity #### Knowledge focus Business Activity #### Key skills - Understand basic business concepts such as ownership, aims and objectives and business growth. - Analyse business situations using real-world examples Problem-solving and decision-making for business scenarios. - Making recommendations based on context. - Communication skills through written responses and business explanations. - Application of knowledge to context #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. #### Key Vocabulary - Entrepreneur, stakeholder, enterprise. - Liability - Sole Trader - Private Limited Company - Organic growth - Merger - Takeover #### #### Year 11 – Operations #### Knowledge focus - Operations #### Key skills - Understanding more complex business functions – operations management. - Understand how products are produced and what affects production methods. - Analysing efficiency and ways t improve productivity. - Evaluating quality methods. - Applying knowledge of supply chain and logistics to business scenarios. - Improving extended writing skills for longer exam questions. #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. #### Key Vocabulary - Operations - Productivity - Quality control/assurance. - Supply chain - Logistics - Batch - Flow Cycle 2 #### Year 10 – Marketing #### Knowledge focus Marketing #### Key skills - Understand and use marketing terminology. - Interpreting and using market data. - Apply the marketing mix to real business scenarios. - Analyse market decisions and their impact on sales and competitiveness. - Evaluate promotional and pricing strategies with pros and cons. - Develop creativity and problem-solving skills. #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. #### Key Vocabulary - Market segmentation, marketing mix. - Design mix - Innovation - Invention - Distribution Channel - Digital distribution #### #### Year 11 – Finance #### Knowledge focus Finance #### Key skills - Using financial calculations such as revenue, costs and profit/loss. - Interpret financial documents like cash flow forecasts. - Analyse financial data to support decision making. - Evaluate appropriate sources of finance. - Improve numeracy and accuracy when working with figures. #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. #### Key Vocabulary - Revenue - Variable costs - Profit - Break-even - Cash flow forecasts Sources of finance - Investment appraisal - Loans Cycle 3 #### Year 10 – People \[HR\] #### Knowledge focus People HR #### Key skills - Understand recruitment, selection and training processes. - Recognise different organisational structures and roles within a business. - Analyse motivational strategies and how they affect productivity. - Interpreting communication flows. - Evaluate HR decisions for different business scenarios. #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. - Mock examination Paper 1 #### Key Vocabulary - Recruitment - Selection - Motivation - Organisational structure - Hierarchy - Chain of command - Span of control #### #### Year 11 – Influences on Business and the Interdependent Nature #### Knowledge focus Influences on business #### Key skills - Understand how economic factors affect businesses. - Recognising legal, ethical and environmental issues and how firms respond. - Analyse stakeholder impacts and conflicts when decisions are made. - Interpreting how competition and market changes influence strategy. - Evaluating business responses to external pressures and trends. #### Assessment - Formative Assessment lesson by lesson. - Summative: Two pieces of assessed homework. - One assessed end of topic assessment. - Mock examination Paper 2 #### Key Vocabulary - Ethics - The Economy - Inflation - Interest Rates - Pressure Groups Key Stage 5 Business Cycle 1 #### Year 12 – Meeting Customer Needs and The Market #### Knowledge focus Theme 1: - -Meeting Customer Needs - -The Market Theme 2: - -Raising Finance - -Financial Planning #### Key skills - Communicate ideas using business terminology accurately. - Interpret data from research, graphs and market information. - Use elasticity calculations to analyse customer responses. - Apply knowledge to real business contexts and case studies. - Compare market types. - Select suitable sources of finance. - Judge the risks and costs of borrowing - Use case studies to evaluate financial choices. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - Market Segmentation - Mass and Niche Markets - USP - Branding - Added value - Price Elasticity of Demand - Income Elasticity of Demand - Supply - Equilibrium - Cash-flow forecast - Net cash flow - Budget Variance #### #### Year 13 – Strategy, Growth and Globalisation #### Knowledge focus Theme 3: - -Business Objectives and Strategy - -Business Growth Theme 4: - -Globalisation - -Global markets and business expansion #### Key skills - Strategic decision-making and evaluation. - Judging suitable business strategies for different scenarios. - Compare methods of business growth. - Analyse global trends and international data. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - Corporate objectives - PESTLE - SWOT - Corporate Strategy - Strategic and tactical objectives - Multi-national organisation - Protectionism - Quota - Tariff - Trading Bloc #### Cycle 2 #### Year 12 – Marketing Mix and Strategy #### Knowledge focus Theme 1: Marketing mix and strategy - -Managing People Theme 2: - -Managing Finance - -Resource Management #### Key skills - Analyse marketing decisions using real business examples. - Apply the 4P’s to design suitable marketing strategies. - Evaluate strengths/weaknesses of promotional methods and pricing choices. - Interpret product lifecycle data and suggest improvements. - Communicate business ideas using strategic marketing reasoning. - Interpret financial statements (income statement and balance sheets) - Evaluate financial performance - Link financial decisions to objectives - Judge operational decisions to improve productivity - Solving problems related to capacity, stock and resource use. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - The Product Lifecycle - Marketing Mix - Design Mix - Distribution Channel - Price Skimming - Price Penetration - Above/Below the line. - Gross and Net Profit Margin - Internal and External Finance #### #### Year 13 – Theme 2- Rural and Urban Risks #### Knowledge focus Theme 3: - -Decision-making techniques - -Influences on business decisions Theme 4: - -Global marketing - -Global industries and companies #### Key skills - Interpreting and analysing numerical and qualitative data. - Using decision-making tools to reach conclusions. - Critical thinking around external and internal business pressures. - Evaluate decisions based on legislation, ethics, culture and corporate objectives. - Compare international marketing strategies. - Assess when to use global vs local marketing approaches. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - Decision Tree - Expected Value - Critical Path Analysis - Float Time - Qualitative and Quantitative Decision Making - Corporate Culture - Business Ethics - Global Branding - Foreign Direct Investment - Outsourcing #### Cycle 3 #### Year 12 – Managing People #### Knowledge focus Theme 1: - -Managing People continued - -Entrepreneur and leaders Theme 2: - -Resource Management continued. - -External Influences. #### Key skills - Analyse HR decisions and their impact on performance. - Assess leadership and motivational approaches. - Evaluate the effect of improving quality or productivity on costs and competitiveness. - Recommend solutions to operational issues using logical reasoning. - Analyse the impact of economic, legal and competitive changes. - Critical thinking when weighing risks and opportunities. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - Enterprise - Risk and Reward - Corporate Social Responsibility - Stakeholders - Shareholders - Recruitment - Selection - Motivation - Retention - Job Enlargement #### Year 13 – Competitiveness #### Knowledge focus Theme 3: - -Assessing competitiveness - -Managing Change Theme 4: - -Revision time for all themes. #### Key skills - Interpret performance data using ratios. - Compare competitor performance objectively. - Use profitability, liquidity and efficiency ratios to assess strengths and weaknesses - Analyse causes and effects of change. - Evaluating strategies for managing resistance and uncertainty. - Condense and organise knowledge. - Practice exam-writing techniques. #### Assessment - Formative assessment strategies used every lesson. - Exam style practice- teacher/ student assessed. - Formal assessment. #### Key Vocabulary - Labour Productivity - Return on Equity - Return on Capital Employed - Current Ratio - Acid Test Ratio - Gearing - Incremental Change - Delayering - Restructuring #### **[For Key Stage 5 Curriculum information please click link here to our Sixth Form Curriculum](https://st-wilfrid-s-rc-college-south-shields.schudio.com/sixth-form)** ![St. Wilfrid's R.C. 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