Business Studies

GCSE Business Studies 

Unit 1: Business in the real worldThe purpose and nature of every business is different. This unit looks at the reasons for starting a business, the types of business that exist and how a business can grow and expand. This also entails looking at aims and objectives, which businesses do to measure their success. It also examines how various locations can affect a business, the different stakeholders that have an interest in a business and the kinds of activities businesses carry out.
Unit 2: External influences on businessTechnology has changed the way businesses operate, including the way they produce and the way they sell products. Changes in the economy such as reductions in consumers’ income impacts upon business as do changes in the law. Increasingly. Businesses have been influenced by pressure to be ethical in their behaviour towards the environment and their employees. Globalisation has exposed businesses to competition from around the world and also offered increased chance for them to sell their products in new markets. In all of these areas businesses have responded to these influences by producing new products, using new methods of production or relocating.
Unit 3: Business operationsThis unit covers production and includes: production processes, procurement, customer service and quality. We look at the different methods of production and consider the advantages and disadvantages of each. Additionally, we learn how the quality and the prompt delivery of supplies can have a significant impact on a business. Successful businesses must understand the concept of quality and how it can be achieved and this is examined in this unit. Finally, this unit covers the importance of good customer service in creating a successful business.
Unit 4: Human resourcesThis unit considers how businesses organise their employees to supply products in the most efficient ways. Oganisational structures help them do this and dictate how free particular employees are to make decisions. This unit also looks at how a business recruits a new employee and the techniques they use to select the best applicants. Employee motivation is an important factor in a successful business and we learn about the different approaches taken to ensure this happens. The other factor in a highly performing workforce is training and we analyse the benefits and the drawbacks of the different types of training used.
Unit 5: MarketingIn this unit we examine the importance of understanding your customers and how identifying particular groups of customers can help them to do this. We will also look at market research. The marketing mix is central to this unit and we cover the four elements that contribute to it: price, product, promotion and place.
Unit 6: FinanceThis unit starts with the sources of finance that can be used by a business and goes on to look at cash flow as many businesses in the UK fail each year due to not managing their cash flows effectively. We make clear the difference between cash and profit and introduce key financial terms and calculations. We finish with two vital financial documents produced by businesses and used to tell them about the performance of the business.