HURTWOOD HOUSE

BUSINESS STUDIES DEPARTMENTAL HANDBOOK

Contents
Section 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Content Mission statement and aims and objectives Staff details About the department and its courses AS course outline A2 course outline AS scheme of work A2 scheme of work IGCSE scheme of work Summary of assessment criteria Departmental calendar Departmental policies Departmental resources Examination results Study Skills in Business Studies

1.

Mission Statement:

The purpose of a mission statement is to encapsulate, often in one sentence, the central aim and sense of purpose of an organisation or department. Our mission in the Business Studies department at Hurtwood is: To provide academic Business Studies education in a challenging, caring and supportive environment. Aims: To be one of the most successful AS and A level Business Studies departments in the country. To develop within students a critical understanding of organisations, the markets they serve and the process of adding value. To make students aware that business behaviour can be studied from the perspectives of a range of stakeholders including customers, managers, creditors, owners and employees. To help students acquire a range of skills, including decision-making and problem solving in the light of evaluation and the quantification and management of information.

 To make students aware of the current structure of business and business practice, as reflected in events and issues affecting organisations in different sectors and environments, recognising that they face different degrees of competition. To support the schools aims with appropriate teaching strategies and departmental policies. Objectives: 1. To offer a suite of Business Studies courses that are academic in nature, challenging in content and universally recognised for their worth. 2. To teach the subject in a lively, dynamic manner so that students are enthused by it and wish to achieve the very best grade that they can in their final examinations. 3. To provide a supportive environment for all students, especially those who may need additional time and tutorial guidance to ensure that they reach their full potential. 4. To keep abreast of all developments in GCSE, AS and A level specifications and assessment methods. 5. To encourage all members of the department to keep up to date with teaching styles and availability of resources suitable for use at Hurtwood. 6. To monitor the progress of each student within the department and to alert the Head of Department, tutorial staff, and if necessary, the Director of Studies, of any problems with students or lack of student progress.

2. Business Studies Department - Staff Details Peter Stimpson B.Sc.(Econ). P.G.C.E. Head of Department. Peter joined Hurtwood to take over the department in 1998. Previous teaching experience was gained at a selective Epsom grammar school (3 years) and a large Sixth Form College (22 years). In addition to his extensive experience in the teaching of Business Studies, Economics and Accounting he has been closely involved in specification development for three major examining boards. He is currently Business Studies Principal Examiner for both the Pre-U and Cambridge International Boards. Peter has written several Business Studies textbooks and articles for Business Review. He has travelled to several countries to organise teacher training courses for teachers new to A level teaching.

Peter Fromow B.Ed. Peter joined Hurtwood in 2001 to teach Business Studies at GCSE and AS level. Peter has many years of teaching Economics and Business related subjects in New Zealand his home country. He was responsible for careers and University liaison at his last school. Peter gained much industrial experience before entering the teaching profession. These varied industrial placements make him ideally qualified to bring Business Studies alive in his lessons a key aim of the whole department. A keen

mountaineer and sailor, Peters long term ambition is to sail his own yacht from New Zealand to the Mediterranean.

Ian Barter B Ed Ian joined Hurtwood in 2005 to teach at GCSE and AS level. Ian has a number of years experience teaching Business Studies in several different locations. Having started his teaching career in London, Ian has spent time teaching in Australia and joined us from an International School in Spain. A keen sportsman Ian is also in charge of football at Hurtwood and is often found by the sports

pitches trying his best to compete with the students. As our youngest department teacher Ian is perhaps the most computer literate and has developed some excellent ICT resources for the students. His webpage has proved a hit with his students who use this valuable resource to read over class notes, add comments and even read his humorous blogs! Ian is also a Housemaster at Ewhurst Place

Amanda Fanya B.Bus.(Hons), Grad.Dip.Comm., Grad.Dip.Ed. Mandy joined Hurtwood in 2009 to teach Business Studies at GCSE and AS level. Mandy has many years of industrial work experience with a focus on marketing, recruitment and training. Mandy previously worked in the universities sector in an admissions and careers advisory capacity for international students. She has taught both senior English and Business Studies in schools in Australia as well as at university level. Mandy has two young children and is the live-in House Tutor at Ewhurst Place.

Stephen Paxton MA Economics and Statistics. PGCE Stephen Paxton joined Hurtwood House in 2010. He received his M.A. in Economics & Statistics from Adam Smiths alma mater, the University of Glasgow. He has taught Economics, Business & Mathematics for 25 years. At Hurtwood he teaches Business Studies and Economics. He also has management experience in the independent schools sector. His outside interests include charity work, ecclesiology and the balance sheet of Rangers Football Club.

3. The courses we offer. IGCSE EDEXCEL 4BSO

This GCSE course can be successfully completed by candidates in one year. It provides an excellent introduction to the issues concerning business decision making. All important business functional areas are covered during the course. The course is specially designed for candidates who have English as a Second Language. Many students progress from this course on to the AS course. AS and A level AQA 1131/2131 This is by far the most popular U.K based AS/A level Business Studies syllabus. It is fully recognised by UK universities for degree course entry. The course is divided into 4 modules. There are four unit examinations 2 at AS level and 2 at A2 level. The combined result counts towards the final A level grade. There is no coursework requirement or option. For further details of this course see Sections 6 and 7. Good subject combinations. There is, of course, no such thing as an ideal subject combination at AS or A level. Careful consideration must always be given to each students likes and dislikes, strengths and weaknesses and, crucially, possible degree or career ambitions. Over half of all A level Business Studies students at Hurtwood progress to read a business related course at University. For these students, access to the top flight Universities is often aided by combining

Business Studies with one or more of the following subjects: Accounting Economics English History Mathematics Media Studies Modern languages Psychology A Natural Science Sociology University courses; There are more University courses in the field of Business Studies than any other discipline. This does not mean that all A level students of Business Studies progress to a degree in this or a related discipline but the majority do. Students may also choose from a huge range of other degree options as an A level in Business Studies creates many opportunities and shuts so few off. The academic and decision making skills developed throughout the course as well as the integrative nature of the subject content equip potential undergraduates particularly well with the maturity and techniques needed to survive at University no matter what the area of study.

4. AS Course Outline There are 2 AS Units

 Unit 1 BUSS1 Planning and Financing a Business

Summary of subject content:

Enterprise Developing Business Plans Market Research Raising finance Locating the business Costs, revenues and profit Break-Even analysis Cash Flow forecasting

Summary of subject content:

Unit 2 BUSS2 Managing a Business

Using budgets Improving cash flow Measuring and increasing profit Organisational structures Developing an effective workforce Motivating employees Operations Management decisions Marketing and the competitive environment Marketing Mix

AS assessment summary:
% of total AS marks 40 Length 1 hour 15 mins 1 hour Total Format marks 60 Short answer questions and extended responses based on a mini case study 80 Compulsory, multi-part data

Unit 1

Unit 2

60

15 mins

response questions

5. A2 Course Outline There are 2 A2 modules

Unit 3 BUSS3 Strategies for Success

Summary of subject content: Functional objectives and strategies Using financial data to measure and assess performance Interpreting published accounts Selecting Financial strategies Making investment decisions Marketing strategies Developing and implementing marketing plans Operational strategies: Innovation; Location; Lean Production Developing and implementing workforce plans Competitive organisational structures Effective employer:employee relations

Unit 4 BUSS4 The Business Environment and

Managing Change Summary of subject content: Corporate aims and objectives Business and the economic environment Business and the social, legal and political environment Managing change: Planning for change Key influences on the change process Culture Making strategic decisions Implementing and managing change

A2 assessment summary
% of total A2 marks 50 (25% of A level) Length 1 hour 45 mins Total marks 80 Format Questions requiring extended answers based on unseen case study and drawing upon knowledge of AS units Pre-release research tasks leading to the first section of a two section examination Second section will consist of choice of essays. All questions will be essay style and synoptic.

Unit 3

Unit 4

50 (25% of A level)

1 hour 45 mins

80

6. AS Scheme of Work

Syllabus Section

Teaching Strategies

Wee k

Unit 1
1.1 Enterprise: Enterprise & entrepreneurs, risk & rewards, opportunity cost, motives for becoming entrepreneur, government support. 1.2 Generating and protecting Business

Starting a Business
Group task: What do you need to start a business? (Students to come up with a list of what is required in groups which we then discuss and perhaps put into a list of importance) Case Studies: A look at some current businesses started and why they became a success. (From The Times/BBC/etc.) TV/DVD: Dragons Den (a look at some of the budding entrepreneurs an action) Group task: You are given 500 to start a business, in 15mins come up with an idea as to what you are going to do.
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ideas: Sources of ideas, identifying niches, franchises, copyright, patents & trademarks.

(Watch and observe the groups and then discuss how they came up with ideas) TV/DVD: A look at The Apprentice seeing how the groups come up with initial ideas.

Task: introduction of franchising discuss the pros/cons of Subway v independent sandwich shop in Cranleigh. TV/DVD: Working Lunch Video (Ian) Short 10 min clip on why an individual set up franchise features franchisee and franchisor the company is Greenfinger which looks after lawns. Task: Using textbook (reference not yet known) look at the difference between copyright, patents & trademarks. Internet: The British Franchise Association, www.thebfa.org.uk

1.3 Transforming resources into goods and services: The transformation process and adding value.

Group Task: Students are given a raw material and in groups are asked to suggest ways in which they can add value to the product. TV/DVD: BMW Mini: Shows how raw materials are transformed into finished product. The Apprentice: Episode showing how value is added to tissues with

1.4 Developing Business Plans: Purpose and contents, sources of information

branding (Ian has episode on DVD). Group task: Students to list what they think should be included in plan and discuss the outcomes as a group.

Banks: All of the major banks have resources on business plans. HSBC has good material (see link below). Visit: It may be possible to get someone from bank Small business advisor or from government organisation Businesslink to come in and discuss what they expect from upstarts. Internet: www.hsbc.co.uk/1/2/business/needs/starting-business/business-plan
www.businessballs.com/freebusinessplansandmarketingtemplates.htm

1.5 Conducting start-up market research: Methods of primary, secondary, quantitative and qualitative research,

Group Task: Students are given a product to conduct their own market research. (NOTE: THIS CAN RELATE TO THE DRAGONS DAY PROPOSAL WHERE THEY WILL BE PRESENTING A BUSINESS PLAN OF A CHOSEN PRODUCT/SERVICE.) Results can be presented to the rest of the group as a PowerPoint presentation.

size and types of sampling, factors influencing sampling.

(NOTE: THIS CAN BE USED AS THE ICT PROJECT WE HAVE ALWAYS HAD IN TERM 1)

Case Studies: The old favourite Sinclair C5 showing the problems of lack of research. Mintel/Surveys: Show class a number of examples of surveys and reports which are used by businesses. TV/DVD: Dragons Den once more used to show both good and bad examples of market research.

1.6 Understanding markets: Nature and types of markets, market size, share & growth, segmentation and the importance of demand. 1.7 Choosing the

PowerPoint: Adapted Bized PowerPoint showing the different types of market and key terms. Task: Students to find a business in each of the chosen section and look at the advantages and disadvantages of each. Case Studies: A look at businesses that have successfully targeted particularly market segments such as Volvo targeting mums to be.
Business Review: Volume 7, number 4, April 2001, pages 13-14. PowerPoint: Adapted Bized PowerPoint showing the main differences

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right legal structure: Sole traders, partnerships, Ltds, plcs and not-forprofit businesses.

between each set up with advantages and disadvantages.

Group Task: Different groups are to present to teacher (who is role playing as someone about to start a business) the pros and cons of each legal set up. So one group looks at Sole Trader another Partnership, etc. TV/DVD: Working Lunch has a number of short clips which show the different types of structure. Group Task: Students to list as many possible ideas about where they could raise finance including a look at the possible advantages & disadvantages of each method. Task: In Pairs students have to match the source of finance shown on card with the different descriptions also on card (Ian has filed). PowerPoint: Adapted Bized PowerPoint looking at the various methods discussed in group task.

1.8 Raising Finance: Sources of finance

1.9 Locating the business: Factors influencing the decision.

Group Task: Students to list the factors that are important when locating a business for primary, secondary and tertiary businesses. Examples can be given (some good iGCSE case studies/past questions) and groups to choose location from choices and give reasons for choice.

Business Review: Volume 9, number 4, April 2003, pages 4-6. 1.10 Employing Group Task: Students to look at the various people that can be used by People: small businesses and discuss the importance of each. Perhaps can be done Types of employees using cards to match each type of consultant/advisor with a description of including consultants the title. and advisors.

Financial Planning
1.11 Costs, revenues & profits: Fixed, variable & total costs, price, total revenue & profit.

Group task: Students to list the different costs and revenues that a new business such as a clothes shop will have. Different groups can be given different businesses to think about from various sectors. Followed by group discussion looking at fixed and variable costs and the difference between revenue and profit. PowerPoint: From last year showing the different types of cost, formulas and definitions leading up to the introduction of break-even. Textbook: Use book and past question examples for students to calculate costs/revenues and profit/losses. PowerPoint: Use same resource as last year introducing the formula, graph and calculation of break even point.

1.12 Break-even Analysis:

Contribution, calculating breakeven & constructing charts, analysing impact of changing variables, strengths and weaknesses

Textbook: Use book and past paper question examples for students to make calculations. Task: Students to answer 15 mark question on the advantages and disadvantages of break-even analysis. TV/DVD: Working Lunch Video has short clips (10mins)on break even analysis. Task: Emilys Finance; An excellent resource activity which introduces the concept of cash flow by looking at a student preparing for university (Ian has copy).

1.13 Cash Flow Forecasting: Nature of cash flow and how to forecast, structure of a PowerPoint: Again can use same resources as last year introducing the set forecast and up and pros and cons of cash flow forecasting. reasons for forecasting Textbook: Use book and past paper question examples for students to make calculations.

1.14 Budgets: Types of budgets,

Task: Students to answer 15 mark question on the advantages and disadvantages of cash flow forecasting. Group task: Students ask to prepare a plan for an ideal 18th birthday party first with no budget. Then we bring in the concept of a budget and ask

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the process and problems.

why? Students then to prepare more realistic party with budget. Opens up discussion on the pros & cons.

PowerPoint: Again can use same resources as last year introducing budgets and the pros & cons (Zero budgeting no longer required). Textbook: Use book and past paper question examples for students to make calculations. Task: Students to answer 15 mark question on the advantages and disadvantages of budgets.
1.15 Assessing business start-ups: Objectives, strengths and weaknesses of a plan, risks and causes of failure

TV/DVD:Risking it All Video which shows the problems of small businesses starting up and watches a few businesses over a twelve month period. Dragons Den Students watch the pitches and then we discuss their thoughts on the ideas before hearing what the Dragons thought. Case Studies: A look at various businesses how they have grown and discuss the strengths and weaknesses of each. Including a close look at objectives.
Dragons Day: Students to give presentations of their proposed business start up.

Unit 2

Managing a Business Finance

2.1 Using Budgets; Benefits/drawbacks . Calculation of variance Using Variance

Extrapolate costs / revenues from financial planning section (unit 1) to create a simple budget for one month. Extend to 3 months Use structured format to fill in spaces. Group activity to outline advantages provided by budgeting. Comparison with actual figures- calculation of variance. Discussion of impact of variance on profit favourable / unfavourable variance. Using variance analysis for decision making on operations or financing.

2.2 Improving Cash flow. Methods of improving cash flow

Draw up simple cash flow forecast into pre- arranged table for say 3 months. Identification of cash flow problems and discussion of causes. Solutions to C/f problems- define in class. Group discussion to present adv/ dis. of each solution factoring short-term loans overdrafts sale and lease back sale of assets adjusting terms of trade credit Calculation of net profit margins Calculation and understanding of return on capital methods of improving profits / profitability. Class discussion to identify implications of price rise or cost cutting. Distinction between cash and profit therefore the need for working capital.

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2.3 Measuring and Increasing Profit.

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People in Business
2.4 Improving Intro. Organisational design - hierarchy v flat structures. Span of control 11

Organisational Structure: Key elements in Organisational Structure. Workforce roles, how structure affects business performance

narrow v wide and implications, levels in hierarchy. Business Review Feb 2004 Pages 10-12 Workforce roles: Supervisor, Team Leader, Manager and Director. Work loads/job allocation.

The role of the manager: www.management-resources.orguniversal.php

Delegation advantages and disadvantages and implications. Choosing the most appropriate structure to enhance improve performance (brief mention of leadership style to illustrate). Calculating Labour Productivity, Labour Turnover and Absenteeism.

2.5 Measuring the Effectiveness of the Workforce: Methods of measuring workforce performance. 2.6 Developing an Effective Workforce: Recruitment,

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Business Review Case Studies investigating KPIs

Types of recruitment and the recruitment process stages from identifying a vacancy (workforce planning) to receipt of applications methods of advertising. Methods of selection: interview, assessment centres and tests. Person specification and job descriptions.

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Selection and Training: The recruitment process, internal and external recruitment, selecting the best employees. How recruitment and selection can improve a workforce, methods of training 2.7 Developing and Retaining an Effective Workforce: Motivating Employees: Using Financial Method to Motivate

Group work: Prepare for an interview run a simulation.

Internal v external recruitment relative merits and pitfalls of each. Training on and off the job, induction. Advantages and disadvantages of training.

Theories of Motivation: Taylor, Mayo, Herzberg and Maslow plus any others of interest. Note: Specific theories will not be examines but candidates should use any relevant theories to support their arguments and consider influences on motivation Methods of improving job design enlargement and enrichment. The important links between organisational structure and the various motivational techniques available to mangers;

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Improving Job Design Empowering employees Working in Teams Motivation in Theory

How are employees in flat v hierarchy structures motivated? www.businessballsssscom/freebusinessplansandmarketingtemplates.heeeee e

Operations Management
2.8 Making Operational Decisions: Operations targets Calculating and managing Capacity Utilisation Operational issuesdealing with nonstandard orders and matching production and demand. Calculating and interpreting unit (average) cost. Operational target setting in terms of unit cost, quality and desirable capacity utilisation. Implications of operating at low or full capacity. 15

Business Review September 2005 pages 19-20

Ways to increase capacity and managing output to match orders: Overtime, hiring temporary and part time staff, rationalisation and sub contracting. Efficient stock management simple control charts, buffer stock and stock rotation. (Not JIT).

2.9 Developing Effective Operations: Quality: Meaning, assurance v control, systems of quality assurance and quality standards.

Total Quality Management (TQM). Implications for leadership style. Self checking v inspection Introducing quality management key issues, analysis of the benefits of quality systems and /or achieving quality standards e.g. ISO 9000. Costs and other implications eg training and disruption when introducing TQM or other quality systems. The importance of quality its use as a USP, a motivator, a team-builder. Using quality to flexibility to pricing decisions and costs.

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2.10 Developing How to find out and monitor customer expectations: Market research, effective operations training, use of quality control, quality standards. Customer Service: Business review September 1999 pages 10-11 Methods of meeting customer Using customer service to improve performance benefits, how to achieve. expectations, monitoring and improving customer

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service, the benefits of high levels of customer service. 2.11 Working with Suppliers Choosing effective suppliers The role that suppliers play in improving operational performance 2.12 Using Technology in Operations: Types of technology in operations management.

Supply Chain management:

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Business Review September 2001

Factors which affect choice of and relationships with suppliers ie prices, payment terms, quality, capacity, reliability and flexibility.

www.businessballscom/freebusinessplansandmarketingtemplates.heeeeee

Types of technology: Robotics, automation stock control, communications and deign technology.

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Business Review September 2000 pages 32-33

Benefits of technology: Reducing costs, improving quality, reducing waste, and increasing productivity.

Issues in introducing and updating technology

Marketing
2.13 Effective marketing. The purpose of marketing. Niche and mass marketing 2.14 Designing an effective marketing mix. Influences on the marketing mix. The importance of an integrated marketing mix 2.15 Using the marketing mix: Outline main features of niche / mass marketing. Define each. Identification of benefits and drawbacks of niche and mass marketing. Use text book examples of consumer marketing and business to business marketing 19

Using a product- based approach, students in groups with a different product per group. Each group to discuss the anticipated importance of each component of the mix- record and present. Class discussion on what are the influences on designing a marketing mixFocus on finance, technology, market size and position, market segment, competition, distribution method, and business objectives.

19

Identification of influences; -technology

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Product Influences on the development of new goods and services. USPs Product Portfolio analysis. Product life cycle and extension strategies

-competition -objectives -time -finance available -market segment Illustrate examples and impact on PED Define Product portfolio analysis. Discuss concept of PPA. Discuss benefits / drawbacks of too few or too many products. Stress threat arriving on the market late/ too early. Present Boston matrix and components using real world firms, say, Marsplot positions of various products. Discuss product life cycle in relation to sales volume / costs Present PLC diagram. Illustrate extension strategies.

2.16 Using the Marketing mix: Promotion. Elements of the promotional mix.

21 Using several products and dividing class into groups, give each one of the following products, industrial good- excavator; consumer durable double glazing; single use consumer good consumer-Mars bar;

Influences on the choice of the promotional mix

Service- hair dressing; Luxury good/ service- luxury holiday. Students present the best mix of PR. Branding, merchandising, sales promotion, direct selling and advertising required for their product emphasising the impact the nature of the good has on the promotional mix. Using textbook, students research the factors impacting on choice of promotional mix 22 Using the same products / services used above in Promotion, students identify factors involved in the pricing decisions. Use text to identify; price skimming, penetration pricing, price leaders, price takers. Using textbook research pricing tactics. Relate this to objectives and use as examples; loss leaders, Psychological pricing. Influences on pricing decisions should include; PED and reference to the significance, determinants, and the difficulty of measuring PED.

2.17 Using the Marketing Mix: Pricing. Pricing Strategies. Pricing Tactics. Influences on Pricing Decisions.

2.18 Using The Marketing Mix; Place Choosing appropriate outlets / distributors 2.19 Marketing and Competitiveness. The possible impacts of market conditions and the degree of competition. Determinants of Competitiveness. Methods of improving competitiveness

Use numerical examples and the textbook to illustrate use of coefficient of PED to show effects of price changes on total revenue. (Note, calculation of PED is not required). Group activity. Each group is given a consumer, industrial, mass or niche product- Task is to design a distribution channel appropriate for their product. - Summarize on board the channels available and what situations suit each groups of products. Discuss how technology can change the channel

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From the text book identify the various market conditions available ranging from monopoly to pure competition. Use text book examples. Discuss impact of monopoly on; Price Product Design Distribution Promotion. Discuss impact of competitive market on 4 Ps Time first to market and skimming. Motivation Productivity- Av cost Price Product-USP

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 Brand Image Distribution etc Use both marketing and non-marketing methods such as reducing costs. Improving quality, staff training and increasing productivity, as well as raising brand image. Use case study from text book.

NB. A full revision programme will commence after Easter break, following the mock examinations.

7. A2 Scheme of Work

BUSINESS STUDIES A2 Specification content Scheme of Work 2010-2011

TERM 1 BUSS 3 - STRATEGIES FOR SUCCESS
In the study of this unit candidates should examine the topic areas below in relation to the core themes of setting objectives, measuring performance and devising strategy. The assessment for this unit will draw upon AS material which candidates should use to respond to A2 questions.

Week

Content

Guidance

Textbook (Stimpson et-al) +Resources

FUNCTIONAL OBJECTIVES AND STRATEGIES

1

3.1 Using Objectives and Strategies functional objectives and their relationship with corporate objectives the relationship between functional objectives and strategies. 3.2 Financial Strategies and Accounts Understanding Financial Objectives Financial objectives assessing internal and external influences on financial objectives. 3.3 Using Financial Data to Measure and Assess

Candidates should understand a range of functional objectives that businesses might pursue (eg minimising costs, gaining market share) and how these contribute to the achievement of corporate objectives.

P1-7 BR 14:2 Guitars4you (Niche Markets) BR 14:3 Money from Nails

This section examines the financial objectives of larger businesses, the ways in which financial performance might be measured and the strategies they may deploy. Financial objectives should include: cash flow targets, cost minimisation, ROCE targets and shareholders returns.
P9-13 BR 10:3 Strategic Finance

Focus on assessing performance and potential. Candidates P14-21 should understand the importance of working capital,

Performance analysing balance sheets analysing income statements using financial data for comparisons, trend analysis and decision making assessing strengths and weaknesses of financial data in judging performance adding value. 3.4 Interpreting Published Accounts conducting ratio analysis: the selection, calculation and interpretation of ratios to measure financial performance assessing the value and limitations of ratio analysis in measuring a businesss performance.

depreciation, profit utilisation and profit quality. No construction of accounts or calculation of depreciation will be required.
Activity: Select a company report www.annualreports.com, measure and assess performance. Present findings to the group

Additional: Students visit www.times100.co.uk - read article about CIMA Ratios to be covered: liquidity (current and acid test ratios), profitability (ROCE), financial efficiency (asset turnover, stock turnover, creditor and debtor days), gearing and shareholder ratios (dividend per share and dividend yield). Candidates will be given a table of relevant formulae for ratios as part of the examination paper where appropriate. Activity: Students issued with table for helping construct ratios. Calculation activities. DVD: Working Lunch Series 9 Lesson 7 Deciphering Company Accounts www.bbc.co.uk/news/business/workinglunch Candidates should understand how these strategies interrelate with other functions and be able to assess their value in given circumstances.
P22-31

BR 9:3 Finance: Just a Game? (Working capital ratios) BR 13:1 Ratio analysis

3.5 Selecting Financial Strategies raising finance

P32-37

BR 9 :1 Back to Basics: Profit Centres

 implementing profit centres cost minimisation

allocating capital expenditure.

Analysis of the following: Shares v debt finance Profit Centres v Cost Centres Methods of cost minimisation TV Choice DVD on Raising finance: Finance in Business II (The established business/The PLC) Candidates should understand the reasons why businesses invest and the ways in which investment can help businesses to reach functional objectives. Quantitative measures of investment should include: payback, average rate of return, and net present value. Advantages and disadvantages of methods of Investment Appraisal Discount factors will be given Activity: Bized investment appraisal activity www.bized.co.uk/timeweb/reference/usingexperiments.htm

BR 11:3 Profit Centres: A means of increasing profits?

3.6 Making Investment Decisions conducting investment appraisal: selection of appropriate methods, calculation and interpretation of findings investment criteria assessing the risks and uncertainties of investment decisions evaluating quantitative and qualitative influences on investment decisions.

P38-45

BR 10:4 Investment Appraisal

MARKETING STRATEGIES

This section considers the development of marketing strategies for larger businesses through a scientific approach to decision making. It builds upon AS Marketing materials. Internal influences on marketing should include finance, HR, operational issues and corporate objectives. External influences should include: competitors actions, market factors and technological change. Activity: Preliminary discussion about launch of iPhone i.e. influences and objectives Reasons for analysing markets should include: gathering evidence for devising a new strategy, identifying significant patterns in sales. Candidates should be familiar with moving averages, test markets and extrapolation as methods of measuring and forecasting sales. Candidates should understand how correlation can be used in analysing markets. Activity: Bized market analysis activity www.bized.co.uk/educators/1619/business/marketing/activity/analysis.htm Ansoffs matrix should be used to assess marketing strategies in a national and an international context. Marketing strategies should consider the methods, risks
P54-65 P48-53 Br 10:3 Responding to Market changes

3.7 Understanding Marketing Objectives marketing objectives assessing internal and external influences on marketing objectives. 3.8Analysing Markets and Marketing reasons for, and the value of, market analysis methods of analysing trends the use of information technology in analysing markets
difficulties in analysing marketing data.

BR 12:2 The UK Jeans Market BR 12:3 The UK Footwear Market BR 13:1 The Breakfast Cereals Market
BR 13:2 Pre recorded music in the UK

3.9 Selecting Marketing Strategies low cost v differentiation

P66-74

BR 10:2 Strategic Marketing

 market penetration product development and market development strategies diversification

assessing effectiveness of marketing strategies.

and benefits involved in entering international markets. www.times100.co.uk Edition 13 Wilkinson: Marketing strategy for growth Activity: Bized problem based learning activity: Changing markets, changing strategies: The Problemwww.bized.co.uk/current/pbl/2005-6/031005problem.htm Components of marketing plans include: objectives, budgets and sales forecasts and marketing strategies. Influences on the marketing plan might include: finance available, operational issues and competitors actions. Activity: Bized activity: Marketing the Glastonbury Festival Internet: http://www.bized.co.uk/current/mind/2003_4/081203.htm For Marketing Plan, visit: http://www.glastonburyfestivals.co.uk/information/educat ional-resources/ http://www.businessballs.com/free_SWOT_analysis_tem plate.pdf Copy of SWOT template This section considers the operational objectives and

BR 11:4 Michael Porters Big Ideas + Coffee culture: Behind the froth of expansion BR 12:1 Cobra Beer BR 12:2 Five Forces Analysis
BR 12:4 Strategic thinking in Marketing P75-81

3.10 Developing and Implementing Marketing Plans components of marketing plans assessing internal and external influences on marketing plans
issues in implementing marketing plans.

BR 13:1 Marketing Plans

OPERATIONAL

STRATEGIES
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strategies that a business may use to achieve success in its particular market. It builds upon AS Operations materials. Operational objectives should include: meeting quality, cost and volume targets, innovation, efficiency (including time) and environmental targets. Influences on operational objectives might include: competitors performance, resources available, the nature of the product and demand. Economies of scale including: purchasing, technical and specialisation. Diseconomies of scale include communication and co-ordination. Candidates should understand the benefits and drawbacks of capital and labour intensive strategies. DVD: History of Assembly Line Business Collection TV Choice dvds: Systems in a Factory Inside a Factory III: The Crisp Makers www.tvchoice uk.com Working Lunch dvd Series 10 Lesson 6 Economies of Scale www.bbc.co.uk/news/business/workinglunch Candidates should be aware that a strategy of innovation has implications for finance, marketing and human resources.
P84-89 BR 10:1 Strategic Operations

3.11 Understanding Operational Objectives operational objectives assessing internal and external influences on operational objectives. 3.12 Operational Strategies: Scale and Resource Mix choosing the right scale of production: economies and diseconomies of scale choosing the optimal mix of resources: capital and labour intensity.

P90-95

BR 9:3 Economies of Scale: Christian Salvesen BR 10:2 Labour v Capital Intensity

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3.13 Operational Strategies: Innovation innovation, research and development

P96-101

BR 9:2 The value of Innovation BR 10:1 Why do 5 out of

 purpose, costs, benefits and risks of innovation.

www.times100.co.uk Edition 13: - Intel: Using innovation to create competitive advantage Edition 9 Kelloggs: Using new product development to grow a brand The focus should be on expansion and/or relocation (including off-shoring). Methods of deciding on location should take into account quantitative (investment appraisal, for example) and qualitative factors. Reasons for international location include: global markets, cost reduction and avoidance of trade barriers.
Working Lunch dvd Series 12 Lesson 4 Location www.bbc.co.uk/news/business/workinglunch

every 6 new products fail? BR 11:3 The importance of R+D BR 14:2 Innovation
P102-113

3.14 Operational Strategies: Location methods of making location decisions benefits of optimal location the advantages and disadvantages of multi-site locations
issues relating to international location.

BR 9:4 Business Location

BR 10:4 The Exodus Abroad BR 13:3 Re-locating a business

Plus useful activity: www.bized.co.uk/learn/business/production/efficiency/lo cation.htm Activity: Location Decisions Business Games

11

3.15 Operational Strategies: Lean Production the effective management of time assessing the value of critical path analysis

Candidates should be able to interpret and complete critical path networks by entering ESTs and LFTs and understand the significance of critical and non-critical activities. Candidates should be aware of lean production techniques, including just-in-time production and kaizen. DVD: Inside the Mini Factory

P114-120 BR 9:1 Lean Production BR 10:1 Just-in-time? It depends BR 10:2 Critical Path Analysis BR 10:3 Zara

 the effective management of other resources

through methods of lean production.

BR 11:3 What is Lean Production?

HUMAN RESOURCE STRATEGIES

12

This section considers the strategies available to businesses in managing their human resources. It builds upon AS Human Resources materials. HR objectives might include: matching workforce skills, size and location to business needs, minimising labour cost, making full use of the workforces potential and maintaining good employer/employee relations. Candidates should be aware of hard and soft strategies to HR and the strengths and weaknesses of each. Candidates should be aware of the influences on workforce planning, including other functional decisions, eg innovation may require greater diversity, legislation and labour market trends including migration. Issues involved in implementing workforce plans might include: employer/employee relations, cost, corporate image and training. Candidates should recognise that these issues can have positive and negative effects. www.times100.co.uk Edition 13 British Gas: Workforce Planning
P121-127 BR 10:4 Strategic People Management

3.16 Understanding HR Objectives and Strategies HR objectives assessing internal and external influences on HR objectives
HR strategies

3.17 Developing and Implementing Workforce Plans components of workforce plans assessing internal and external influences on workforce plans issues in implementing workforce plans

P128-137

BR 13:1 Human Resource Planning

value of using workforce plans.

13

3.18 Competitive Organisational Structures factors determining choice of organisational structures adapting organisational structures to improve competitiveness.

Methods of adapting organisational structures to improve competitiveness should include: centralisation and decentralisation, delayering and flexible workforces. Candidates should be aware of the issues involved with implementing and operating each of these approaches. Flexible workforces should include the notion of core and peripheral workers, outsourcing and home working. www.times100.co.uk Edition 13 Tarmac: How roles and functions contribute to competitive advantage, Audit Commission: Flexible working patterns Lloyds TSB: Changing working patterns DVD Crazy Ways for Crazy Days Tom Peters Working Lunch dvd Series 18 Lesson 9 Working practices (job sharing) www.bbc.co.uk/news/business/workinglunch Bized notes and activity: Changes in the workplace www.bized.co.uk/current/mind/2005- 6/241005.htm Candidates should understand the importance of communication in employer/employee relations. Candidates should know the advantages and disadvantages of employee representation. Methods of employee representation might include: works councils, employee groups as well as trade unions. Working Lunch dvd Series 7 Lesson 9 Industrial

P138-145

BR 9:2 Decentralisation Business Review BR 14:4 Organisational Structure

14

3.19 Effective Employer/Employee Relations managing communications with employees methods of employee representation methods of avoiding and

P146-153 Business Review BR 10:2 Employer Employee relations in the UK BR 11:3 Trade unions, industrial disputes and ACAS

resolving industrial disputes.

relations Activity - Stance

END OF TERM 1

BUSINESS STUDIES A2 Specification content Scheme of Work 2009-10 TERM 2 BUSS 4 - THE BUSINESS ENVIRONMENT AND MANAGING CHANGE
This unit is designed to be synoptic and draws upon all other units of the specification including the AS units. It considers the relationship between businesses and external factors. It examines how external factors can impact upon businesses, and the responses they may take. The unit also examines a number of themes which are important in the strategic management of businesses, for example, leadership and corporate culture. Candidates should consider how businesses can manage change successfully. This unit should be studied through a variety of real business contexts to allow candidates to understand how the impact and response to change varies.

Week

Content CORPORATE AIMS AND OBJECTIVES

Students should be able to: This section considers what the organisation is attempting to achieve, and how this helps to determine its strategies.
Candidates should understand the purpose and nature of corporate strategies and their relationship with aims and objectives. They should understand differing stakeholder perspectives and the potential for conflict and the pressure that stakeholders may bring to decision making.

Textbook +Resources

4.1 Understanding Mission, Aims and Objectives mission statements corporate aims and objectives corporate strategies differing stakeholder perspectives.

P155-161

BR 14:4 p30-32. Cobra Beer. BR 12:4 p16-18. Article on corporate strategy in the UK cigarette industry. BR 12:4 Corporate Strategy of the EasyGroup.

Use the internet to find mission statements of leading organisations. A good topic for discussion. Case study on Kelloggs - translating aims and objectives into strategy: http://www.thetimes100.co.uk/casestudy--using-aims-objectives-to-createbusinessstrategy-- 6-267-1.php Case study on Amways stakeholders. http://www.thetimes100.co.uk/support/d ownload--30.php Article on Tescos strategy and its

approach to stakeholders (the Tesco wheel): http://www.realbusiness.co.uk/news/ho w-to/4788721/27-waysyou-can-learnfromtesco.

thtml

ASSESSING CHANGES IN THE BUSINESS ENVIRONMENT

This section examines the relationships between organisations and their external environment. Candidates should understand the opportunities and threats created by changes in the contemporary business environment. The importance of acquiring and managing information and of communicating effectively
should be considered throughout.

2-4

4.2 The Relationship between Businesses and the Economic Environment assessing the effects of the following factors on business organisations: impact of economic factors trends in key economic variables globalisation of markets developments in emerging markets

Knowledge of the determinants of macroeconomic factors is not required. Candidates should be familiar with the following economic factors: the business cycle, interest rates, exchange rates, inflation, unemployment and economic growth. The focus must be on how economic variables affect businesses, rather than the causes and theories. Article on a business succeeding during

P164-178 BR 15:2 the UK economy BR 15:1 Credit Crunch. BR 15:3 Recovery stage of the trade cycle. BR 15:3 Impact of unemployment on businesses. BR 11:4 Impact of exchange rates on UK businesses. Business Review, BR 14:4 Watch out for India + In Focus The global marketplace.

 evaluating the strategies businesses might deploy in response to these changes.

recession http://www.businesseye.co.uk/stories/? issueid=54&storyid=256 globalisation and useful links to other sites: http://www.guardian.co.uk/world/global isation.

BR 14:1 China v India. BR 13:4 Globalisation threats and opportunities. BR 12:4 Common problems in interpreting economic data. BR 10:3 Analysing economic data.

5-6

4.3 The Relationship between Businesses and the Political and Legal Environment assessing the effects of: government intervention in the economy government economic policies political decisions affecting trade and access to markets the impact of legislation relating to businesses evaluating responses of businesses to a changing political and legal environment.

DVD - Car Crash (Gerry Robinson) Consideration might be given to the provision of products by the government, government regulation and legislation and other forms of intervention such as tax and subsidy. Monetary, fi scal policy and supply side policies should also be considered. Political decisions should include issues such as: the enlargement of the European Union and moves towards greater freedom of trade. Legislation affecting businesses should include: employment law, consumer protection, environmental protection and health and safety legislation on businesses. A broad understanding of scope and impact is all that is required.

P179-194

BR 15:3 What should the government do now BR 13:1 Unfair competition.

Economic policy: http://www.bized.co.uk/learn/economic s/govpol/macropolicies/index.htm For EU background: http://europa.eu/abc/treaties/index_en.ht m A study of stakeholder needs and the impact of legislation in the nuclear power industry: http://www.thetimes100.co.uk/casestudy--meeting-responsibilities-tostakeholders--103336-1.php Background to employment legislation: /http://www.birminghamchamber.com/InfluencingGovernment/Key-BusinessIssues/Employment-Legislation.aspx 7-8

4.4 The Relationship between Businesses and the Social Environment assessing the effects of: changes in the social environment the changing nature of the ethical environment evaluating responses of

Changes in the social environment might include demographic factors and environmental issues. Candidates should be aware of the actions that businesses can take to demonstrate corporate social responsibility and consider whether these reflect genuine values or are just a form of public relations. A good source for topical examples on

P195-200

BR 13:3 The business implications of immigration. BR 12:4 Ethics of Marketing to children. BR 11:4 Corporate Social responsibility. BR 11:1 Environmental Accounting BR 10:3, Business ethics and the farming industry.

businesses to a changing social environment including corporate social responsibility.

business ethics: http://www.ethicalconsumer.org/

Problem-based learning exercise based on business ethics and cigarettes.

4.5 The Relationship between Businesses and the Technological Environment assessing the effects of technological change evaluating the response of businesses to technological change.

http://www.bized.co.uk/current/pbl/200 6_07/050307 Introduction to the impact of social and technological change. http://www.bized.co.uk/educators/1619/business/external/lesson/technology Use company websites for information on corporate social responsibility (CSR). The impact of technological change should be considered in terms of a range of issues including: marketing opportunities, the culture of the business and the processes and systems used within the business. Introduction to the impact of social and technological change. http://www.bized.co.uk/educators/1619/business/external/lesson/technology A useful template for conducting a PEST analysis. It can be adapted for PESTLE use. http://www.businessballs.com/pestanaly sisfreetemplate

P201-208 BR 14:2 E-commerce. BR 13:4 Effect of technology on retailing.

10

4.6 The Relationship between Businesses and the Competitive Environment assessing the effects of changes in competitive structure evaluating responses of businesses to a changing competitive environment.

A case study on the effect of external influences on FirstGroup plc http://www.thetimes100.co.uk/support/d ownload--2.php and http://www.thetimes100.co.uk/casestudy--managing-external-influences-115-282-1.php Changes in the competitive structure might include: new competitors, dominant businesses (eg through takeover or merger), changes in the buying power of customers and/or changes in the selling power of suppliers. impact of social and technological change. http://www.bized.co.uk/educators/1619/business/external/lesson/technology For up-to-date information on Competition Commission recent investigations: http://www.competitioncommission.org.uk/Inquiries/current/ind ex.htm Organisations operate in a changing environment and change creates

P209-216

BR 10:2 Competition law. BR 13:1 The breakfast cereals market BR 12:2 Five forces analysis BR 9:1 Markets and competition.

MANAGING CHANGE

opportunities and threats. Candidates should understand how businesses plan for and manage change, and how external and internal change is linked.
11

4.7 Internal Causes of Change change in organisational size new owners/leaders

poor business performance.

Changes in organisation size may come about due to mergers, takeovers, organic growth and retrenchment. Useful article on pitfalls of mergers: http://www.thinkingmanagers.com/man agement/takeovers.php DVD: Morgan Cars (Trouble Shooter)

P219- 229 BR 14:4 Tata Business Review, BR 13:4 Premier Foods. BR 13:1 LOreals take-over of Body Shop. BR 11:2 Data on
mergers and take-overs and the business cycle.

12

4.8 Planning for Change purpose of corporate plans assessing internal and external influences on corporate plans

Corporate planning should include contingency planning. Background to contingency planning http://www.ibisassoc.co.uk/contingency -planning.htm

P230-235 BR 12:4 Contingency Planning.

assessing the value of corporate plans. 13

4.9 Key Influences on the Change Process: Leadership the meaning of leadership the range of leadership styles assessing internal and

P236-243 Candidates should consider the difference between the roles of leaders and managers. Summary of Tannenbaum and Schmidts continuum of leadership: http://leadershipchamps.wordpress.com/

external factors influencing leadership style the role of leadership in managing change assessing the importance of leadership.

2008/04/27/what-is-tannenbaumschmidtcontinuum- theory-says/ Leadership lends itself to role plays. Brief leaders to solve a group problem. Each leader is designated a style autocratic, democratic, laissezfaire etc. The effectiveness of the group and satisfaction of group members can be discussed after the role play. An example is the New Truck Dilemma (although the truck is now over 40 years old). For a powerpoint and activity on leadership: http://www.bized.co.uk/educators/1619/business/hrm/activity/leadertypes.ht m For a BBC radio programme (or transcript) of Handys ideas on leadership styles. http://www.bbc.co.uk/worldservice/lear ningenglish/work/handy/handy.shtml For background on factors influencing leadership styles. http://www.businessballs.com/tuckmanf ormingstormingnormingperforming.htm

14

4.10 Key Influences on the Change Process: Culture types of organisational culture reasons for and problems of changing organisational culture assessing the importance of organisational culture..

Types of organisational culture might include: power, entrepreneurial and task. Follow link below for a brief powerpoint to introduce culture and a brief quiz: http://www.learnmanagement2.com/cult ure.htm An introduction and link to articles on culture from BNET. http://dictionary.bnet.com/definition/cul ture.html Influences on corporate decisionmaking include ethical position (real or perceived), resources available and relative power of stakeholders. The range of management approaches to decision making from scientific to intuition. Use the Marketing Model as an example of an approach to decision-making. For a more simple but general decisionmaking approach: http://tutor2u.net/business/organisation/ decisionmaking.htm

P244-250 BR 13:4 Hofstedes cultural dimensions. BR 13:2 Innocent Drinks by.

BR 9:3 Corporate Culture

15

4.11 Making Strategic Decisions the significance of information management the value of different approaches to decision making assessing influences on corporate decision-making.

P251-257

BR 13:4 Decision Trees.

BR 10:3 Decision trees.

16

4.12 Implementing and Managing Change techniques to implement and manage change successfully assessing the factors that promote and resist change.

Techniques to implement and manage change might include: project champions, project groups. Factors that promote and resist change might include: clear objectives, resources and training. For an introduction to project management: http://www.businessballs.com/project.ht m For project champions and their role: http://www.personneltoday.com/articles /2004/08/10/25038/champion-how-tobe-a-projectchampion. html

P258-265 BR 13:4 Change management and force field analysis.

8. IGCSE Scheme of Work

Autumn Term 2010 Week 1 Unit 1: Business Activity & Changing Environment 1.3 Factors of production and 1.4 Primary, secondary and tertiary activity Primary, secondary and tertiary activity

- Primary extraction of natural resources - Secondary raw materials transformed into semi-finished/finished goods by the manufacturing/construction industries - Tertiary services such as transport/distribution or financial/professional services which support primary/secondary activity Factors of production - Enterprise/capital/labour Week 2 3 Unit 1: Business Activity & Changing Environment 1.2 Types of organisation - Ownership, control, sources of finance, use of profits, stakeholders - Sole trader, partnership, private/public limited companies, franchising, multi-nationals - Public sector organisations local authority enterprise, privatisation, shareholding 1.8 Judging success - Size, turnover, shareholders, number of employees, consumer reaction/satisfaction

Week 4 5

Unit 1: Business Activity & Changing Environment

1.1 Objectives Objectives - Wealth creation, survival, market share, Profitability 1.6 Government influences and 1.7 External influences Government influences on business - government factors influencing location - government influences - employees terms/conditions, health, safety, training, wages - consumers consumer protection legislation - finance constraints on public expenditure/taxation - imports/exports tariffs, quotas, exchange rates, currency, technology and environmental effects - economic taxation, interest rates, currency Changes Technology and environmental influences

- environmental legislation - technology e-commerce/Internet - social tastes and habit

Mapping activity and note-making on the factors that affect the location of all business, relevant data, textbook, case studies, work experience visits, relevant web sites (e.g. Greenpeace) Textbook, case studies, worksheets Relevant websites, textbooks, case studies
Week 6 Unit 1: Business Activity & Changing Environment 1.5 Location Location - production influences of location. - competition gap in market or similar goods/services already there. - legislation planning permission, marketing/trading. - environment costs/benefits to community, infrastructures - employment availability of skilled/unskilled workforce. END OF UNIT TEST!

Week 7

Unit 2: Human Resources

2.1: Internal organisation - chain of command, hierarchy, span of control, delegation - key departments, production, marketing, personnel, finance - roles/responsibilities of employees Group discussion, prior knowledge from business research, question and answer, group presentations on different departments, school structure, mini-enterprise, case Studies.

HALF TERM Week 8 Unit 2: Human Resources NOVEMBER ASSESSMENT 2.2 Communication - good communication - effects of poor communication - methods of communication paper, electronic, people, organisations.

Examples and use of different methods of

communication e.g. face-to-face activities. Exemplar materials, e.g. letters, memos,e-mail.

Week 9 Unit 2: Human Resources 2.3 Recruitment and selection - internal/external recruitment - job description written account, job title, duties, responsibilities, accountability - job Specification physical/mental abilities and personal skills required by applicant. 2.4 Training - induction introduces new employees to the business and staff. - on-the-job learning job skills at work, specific training for employee, alongside experienced worker, immediate productivity. - off-the-job training training away from work, in college or training centre, specialist instructors, away from pressure of working

Week 10

Unit 2: Human Resources

environment, easier for company to estimate cost and monitor progress. - government schemes set up to give training opportunities, gives employees a range of experiences, financial support for company. - costs/benefits to employer/employee skilled workforce, reduced turnover, improved efficiency, reduced costs, quality assurance. Week 11 Unit 2: Human Resources 2.5 Motivation and rewards - theories Maslow and Herzberg - rewards wages/salaries, commission, bonus, profit sharing, share ownership, non-financial incentives, job satisfaction

Group discussion, Herzberg video, notes, question and answer research (e.g. a questionnaire) Textbooks, Internet, employees? END OF UNIT TEST!

Week 12

Unit 4: Marketing

4 4.1 Marketing The Market - market types consumer, commercial/industrial - market orientation what consumer wants - product orientation focus on products - marketing process, identify consumer wants, predict future wants - Market segments consumers in groups - market research product, market, competition Developing a marketing plan within a given context.

Textbooks, company websites, owners of businesses, research, appropriate data, PowerPoint presentation.
Week 13 - Unit 4: Marketing 14 Product and Promotion 4.2 The Marketing Mix - promotion aims, below the line reductions, gifts, point of sale, after sales, free samples, competitions

- types of advertising persuasive/informative - media TV, radio, cinema, newspapers, magazines, posters, leaflets, Internet - product goods/services, branding, packaging, product mix, product life cycle

Promotional materials, trade fairs, advertising materials, newspapers, magazines, videos, PowerPoint presentation.

Spring Term 2011 Week 1 Unit 4: Marketing 4.4 Marketing Mix: Price - price supply/demand, cost plus, penetration, competition, skimming, promotional 4.4 Marketing Mix: Place - place channels of distribution (transport routes), methods (retailers, department stores, chain

Week 2

Unit 4: Marketing

Week 3

Unit 3: Accounting & Finance

stores, discount stores, superstores, supermarkets, direct sales, mail order, e-commerce) 3.1 External/internal sources of finance Short-term start-up capital - own capital savings, windfall - overdraft availability, cost - bank loan business plan, security, interest - friend/family no security, no interest - government/EU grant/loan encouragement to invest/create jobs, small businesses, incentives, tax relief, regional developments

Week 4

Unit 3: Accounting & Finance

3.2 Budgets and cash flow forecasts - budgets - cash flow forecasts

Group discussion,cash flow forecasts, business plan, Worksheets, business plan outlines, ICT guides, textbooks
Week 5 Unit 3: Accounting & 3.3 Cost and break-even analysis

Finance

Cost and break-even analysis - direct costs /variable costs, change directly in proportion to output (raw materials, overtime, fuel and power). - overheads/fixed costs - break-even analysis

Break-even by calculation and chart, discuss relationship between costs and revenue. Worksheet examples, guides to using ICT, company accounts, past papers.
HALF TERM Unit 3: Accounting & Finance

Week 6

3.4 Financial statements - gross/net profit/capital/assets/liabilities - trading account first part of profit and loss account - profit & loss account shows profit/loss - balance sheet shows what the business owns/owes

Teacher explanation, exercises in interpretation of final Accounts Worksheets, extracts from company accounts, Textbooks.
Week 7 Unit 3: Accounting & Finance 3.5 Ratios and performance - gross profit - net profit - ROCE - current ratio - acid test

Teacher guided working on ratios, interpretation of results of formulae, Worksheets.

Week 8 Unit 5: Production 5.1 Economies/diseconomies of scale - internal economies (technical, managerial, trading, financial) - external economies (location, skilled labour availability, reputation of area)

Teacher exposition and note making Textbook, case studies, Worksheets, PowerPoint Presentation.
Week 9 Unit 5: Production 5 5.2 Production Methods of production - job, batch, flow (mass) 5.3 Productivity - methods lean production/JIT, stock control - technology EPOS, EFTPOS, CAD, CAM, CIM

Teacher explanation, matching methods of production to type of product Examples of products, videos, visit? Examples of thesemethods in given contexts Visits, textbook, case studies.
Week 10 Unit 5: Production 5.4 Quality - quality control, TQM - consequences of poor quality

Summer Term: MAY ASSESSMENT 2011 Revision EXTERNAL EXAM Date:

9. Summary of assessment criteria

Assessment Objectives (AOs)

The Assessment Objectives are common to AS and A Level. The assessment units will assess the following Assessment Objectives in the context of the content and skills set out in specification Subject Content. AO1 Demonstrate knowledge and understanding of the specified content. AO2 Apply knowledge and understanding to problems and issues arising from both familiar and unfamiliar situations. AO3 Analyse problems, issues and situations. AO4 Evaluate, distinguish between and assess appropriateness of fact and opinion, and judge information from a variety of sources. Quality of Written Communication (QWC) In GCE specifications which require candidates to produce written material in English, candidates must: ensure that text is legible and that spelling, punctuation and grammar are accurate so that meaning is clear select and use a form and style of writing appropriate to purpose and to complex subject matter organise information clearly and coherently, using specialist vocabulary when appropriate. In this specification QWC will be assessed in all units by embedding QWC in Assessment Objective 4.

10. Departmental Calendar IGCSE The single 2 hour examination paper is taken in May AS level BUSS1 and BUSS2 are both taken in May of the AS year A2 level BUSS3 is taken in January of the A2 year and BUSS1 can be retaken too. BUSS4 is sat in June of the A2 year any previous units can be retaken too. 11. Departmental Policies a) Health and Safety i) All members of department to be reminded, at the start of each academic year, of their professional responsibilities for the students in their care. (Section 2.5 Staff Handbook). ii) All members of department to be reminded of the need to read and fully grasp the importance of following the schools Health and Safety policy detailed in the Staff Handbook Section 2.5. b) Education visits i) Education visits can support the learning of students in this subject. ii) Over the last four years, visits have been organised to Land Rover and Denbies. iii) The organisers of all visits by the department are to keep in close liaison with Ray Peacock to ensure that the correct procedures, as laid down in the Staff Handbook (Section 2.4), are followed.

c) Security i) All departmental rooms to be locked and alarmed at night.

d) ESOL students i) The policy of the department is to offer as much support to ESOL students as possible, in conjunction with the work of the ESOL department. ii) The aim is to enable them to approach all external examinations with confidence and with the minimum of apprehension so that their language skills will not prevent them from gaining access to the meaning of each question or the higher examination skills in their answers. iii) The work of the department in this regard has been most successful. This is largely due to the patience shown towards the students and the clear explanations offered in class iv) Additional support is always willingly offered to ESOL students and lunchtimes and activity times are used to see either small groups of students or individuals who may have problems with work being covered in class or with the interpretation of prep assignments. v) Lists of key terms and definitions are presented to all students to allow ease of learning. vi) These lists are provided to Liz Tingley, head of ESOL, to ensure that many of the terms may be

incorporated into the learning assignments of ESOL Business Studies students. e) Lesson Observation i) The department adopts a free access policy towards lessons. Other members of the department are allowed to sit in on lessons or work in class rooms where lessons are being held assuming that no distraction to the class is involved. Once a lesson has started the rooms do not become no go areas. ii) Since 2002, the department has adopted a policy of at least one lesson observation by the Head of Department per year per member of department. Lessons plans are checked and the teachers record keeping is monitored. This process was a significant reason for the external inspectors positive report on the department in 2008 and the excellent feedback received from the Internal Observation weeks in subsequent years. iii) The Head of Department also encourages colleagues to observe his lessons and to comment on these in the same formal way that their observed lessons are reported on.

f) Students with specific learning difficulties i) The department adopts a mixed ability class policy. There are invariably substantial ability ranges between the least and most able in each class. Nearly all classes have students with SLDs ii) The teaching policy is that the subject must be taught at the appropriate IGCSE/AS/A2 level so that there is no danger of students being misled over

iii)

iv) v)

vi)

vii)

the standards required for the final examination. This may mean that less able students may not follow all aspects of all lessons. Further teaching approaches may be attempted in the lesson to ensure that material and concepts are fully understood by all such as targeted questioning and weekly testing. If some students are clearly struggling with new ideas then they will be approached, at the end of the lesson, to see the teacher so that additional support may be offered. Tests, handouts, worksheets etc. are clearly typed and produced in ways to aid understanding of those with SLDs EAPs are prepared with the help of Stella Sharma for each SLD student. Other learning difficulties are handled sympathetically. Typed notes are often provided in class so that those with writing difficulties are not handicapped unduly. Students needing to use a laptop are asked to sit adjacent to electric points. Students with reading difficulties are not asked to read complex material aloud in class. Internal examinations have an additional time allocation for SLD students and, where practicable, this applies to regular tests too. INTRANET / Sharepoint access to extensive subject notes and lesson plans gives students a chance to catch up on lessons missed or work not understood. They are encouraged to download materials when needed. All SLD students are allowed extra time in weekly tests and are encouraged to use computers for completing these tests if they are allowed this facility in external examinations.

viii) If a student appears to have a SLD and this has not previously been identified then DB is alerted and he will organise appropriate testing ix) As a result of discussions with the Teacher i/c of SLD policy, a questionnaire will now be given to students with SLDs at the end of each year to assess whether students feel they have been supported and catered for. x) Comic Sans typeface has recently been adopted for all notes and handouts to students. xi) Any concerns staff have regarding their ability to cope with SLD needs are discussed in departmental meetings and if a need for INSET or additional support is identified than this is passed on to DB or to SS (SLD teacher i/c). g) Meetings i) The department holds regular meetings, usually once a week. The timing of this meeting varies each year and for the last two years it has been necessary to hold this early on Monday morning. ii) The agenda is prepared by the HoD but any member of the department can ask for issues to be raised at the meeting or can refer to the item under AOB iii) The most frequently occurring issues are: progress on schemes of work; preparations for writing examination papers; examination mark schemes and examination marks; visits; teaching issues or problems; student problems. h) Study skills i) The departmental policy is that there should be no specific time set aside for study skills. It is believed that improving students study skills is a

ii)

iii)

iv)

continuous process for which the practice of setting aside one or two sessions at the start of the course is wholly inadequate. All teachers will explain and stress the importance of different study skills at different times during the course. These skills will be tested and examined where appropriate The study skills booklet will be issued at the start of the IGCSE/AS course and attention will be drawn to specific skills analysed in this as the course progresses. The booklet follows the guidelines laid down in the Staff Handbook, Section 4.3. Student files will be checked each term to ensure that they are complete, well ordered and with good structure e.g. divided clearly into separate sections.

i) i)

Grading and marking All student assignments are marked and graded according to the appropriate standard as set by the examining boards and as elucidated in published mark schemes and examiners reports ii) The grading system and the marking policy of the department is explained to the students at the start of their courses iii) Marking policy: We aim to mark and return work to students within one week of handing in date. Examination papers to be marked and returned by the schools deadline We will mark all prep, tests and examination papers in red ink students must not use this colour for their own work. Positive feedback will be given to all students as appropriate and clear suggestions for improvement will be made.

 Examination skills will be explained and those lacking from students answers will be indicated. Exemplar answers and mark schemes will be issued from time to time e.g. before and after the AS November assessment and the summer mock examinations. All prep, tests and essays to be graded according to the AQA Examination Boards grade boundaries for AS/A level and EDEXCEL Boards boundaries for IGCSE. Grade boundaries to be used for AS/A level standard tests and preps are: A 80%+ B 70 79% C 60 69% D 50 59% E 40 49% U 0 39% When tests and preps use other forms of assessment, such as a series of short answer questions, these grade boundaries may not apply. Grade boundaries for IGCSE are: Foundation Tier: Higher Tier: C 65%+ A 65%+ D 55-64% B 55-64% E 45-54% C 45-54% F 35-44% D 27-44% G 25-34% For all test and examination questions based on AS/A level examination questions or IGCSE examination questions, students will either be provided with a copy of the appropriate mark scheme which will be explained when the work is returned or the mark

scheme will be discussed in class after the work has been returned. Prep, test and examination answers based on AS/A level examination questions or IGCSE examinations will be marked according to these mark schemes. Indications will be made, where appropriate, of the number of marks awarded for each skill in each part question. Positive and constructive comments should be written on all work giving an indication on how work could be improved. If any student wishes to dispute a mark with a teacher then this should be done after the appropriate lesson. If this cannot be resolved then the matter should be referred to the HoD.

j. School Aims These policies are all focused on achieving the schools aims as laid out in the student diary and in the School Prospectus. 12. Departmental Resources The departments main resources are its teachers. The main capital resources are: a) Projectors and video/DVD equipment. b) Departmental library in room LC1. c) Computers is each of the rooms 13. Departmental results 2010

BUSINESS STUDIES RESULTS

TABLE A - ADVANCED LEVEL ANALYSIS OF GRADES SINCE 2002 YEAR A2 2002 2003 2004 2005 2006 2007 2008 2009 2010 A% 12 50% 7 35% 11 50% 21 80. 8% 11 65% 15 53% 13 72% 16 50% 6 26% B% 7 29% 10 50% 10 46% 5 19.2% 6 35% 12 43% 3 17% 11 34% 9 39% C% 4 17% 3 15% 1 4% D% E% 1 4% U% TOTAL STUDENTS 24 20 22 26 17 1 4% 2 11% 4 13% 4 17.5% 28 18 1 3% 4 17.5% 32 23

TABLE B AS RESULTS ANALYSIS SINCE 2001 YEAR 2001 2002 2003 2004 A 4 10% 8 19% 5 14% 4 10% B 14 35% 6 14% 12 32% 11 29% C 12 30% 10 24% 14 37% 13 33% D 5 13% 8 19% 5 14% 7 18% E 4 10% 6 14% 1 3% 1 2% U 1 2% 4 10% 1 3% 3 8% TOTAL 40 42 38 39

2005 2006 2007 2008 2009 2010

3 8% 7 16% 6 17% 10 21% 11 32% 6 16.2%

4 11% 10 22% 3 9% 12 25% 6 18% 8 22%

10 27% 11 24% 10 29% 12 25% 6 18% 7 19%

10 27% 12 27% 6 17% 8 17% 7 20% 5 13.6%

6 16% 4 9% 5 14% 3 6% 1 3% 6 16.2%

4 11% 1 2% 5 14% 3 6% 3 9% 5 14%

37 45 35 48 34 37

Table C: ANALYSIS OF GCSE RESULTS: Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 A* 1 A 1 2 1 2 1 1 2 5 B 2 1 2 2 2 2 2 1 3 C 2 1 1 2 3 3 4 D 3 2 2 1 E 1 F 1 G 1 Total 11 7 3 7 6 6 6 7 8

Peter Stimpson. February 2011

14.

STUDY SKILLS IN

BUSINESS STUDIES

STUDY SKILLS IN BUSINESS

STUDIES
During your Business Studies course you will be using the following study skills: a) Reading b) Note taking c) Keeping files d) Examination skills e) Answering data response questions f) Answering case study questions g) Revising h) Preparing coursework This booklet has many helpful tips to assist you in developing these skills within Business Studies. It cannot provide all of the answers to problems that you may have during the course so you must remember that YOUR TEACHER IS YOUR BEST RESOURCE and will always be available to help. a) READING During the course you will be reading: Textbooks Newspapers and business magazines Case studies and other types of question papers Photocopied notes Off the board If you have a genuine reading problem e.g. partially sighted or a learning difficulty such as dyslexia, then tell your teachers and special support may be available plus extra time in examinations.

Textbooks
These are not meant to be read from cover to cover in one go! Your teacher will give you page references in the main textbooks for the topic being covered. You are advised to: Read each section more than once Highlight or underline key points Make a note of those words or phrases that you do not understand and ASK YOUR TEACHER to help you Use the glossary in the Stimpson textbook to help with understanding of technical Business Studies terms. Make a note of these in your own file. If you are and ESOL student then use a dictionary to help you but remember that the definition you look up must be in CONTEXT words can have different meaning in different situations. If you have difficulty understanding large sections of your textbook then ask your teacher for other suggestions. For example, it might be appropriate for you to start off with a GCSE book if you are following an AS course but this will only be adequate for the first few weeks of the course.

Newspapers and business magazines

Business Studies is a live subject and current events are a crucial part of understanding the scope and relevance of it. Your teacher will use many articles in class these will probably be taken from quality papers and business magazines. Always: Underline or highlight key words or phrases Ask for help with words or sentences that you do not understand Read it again in your own time

File it carefully in the appropriate section of your subject folder In addition, you are advised to look through the Business/Economics section of a newspaper at least twice a week. Photocopy relevant articles or bring them to your teachers attention. It is vital that all Business Studies students do this ESOL students have the particular responsibility of extending their own knowledge of English be reading as many newspapers as possible. Case studies and other question papers. Accuracy when reading all case studies and questions is essential. Reading that is done too quickly often leads to students writing an answer on entirely the wrong subject! Data response and case study papers must be read twice before attempts are made to answer the questions. The meaning of key examination prompt words is given in the examination skills section.

Photocopied notes
Subject notes will be given in a number of different ways see the section on note taking. Sometimes your teacher will give you photocopied notes on a particular topic. DO NOT just put these into your file without reading them. When the examinations come round, if you have not understood the content of them then your revision will be badly disrupted. Always read the notes carefully at least twice. Underline or highlight key terms and phrases your teacher will indicate these if the notes are read in class. ASK if any part of the notes is unclear. Off the board This might include hand written notes on the whiteboard or typed notes on the overhead projector or PowerPoint displays. If you have a problem reading teachers handwriting then tell them! Very careful reading is essential to allow you to make an accurate copy ASK if unsure about any notes given in these formats. b) NOTE TAKING Taking accurate, relevant, legible and easy to refer to NOTES is an essential requirement for success in Business Studies. They will

prove to be essential when doing prep work and when revising for examinations. How are notes given/taken in Business Studies? Photocopied notes these are easier for students! BUT they can lead to real problems later on in the course if the notes are not READ carefully and fully UNDERSTOOD at the time. Always raise doubts and concerns about photocopied notes with your teacher. Notes off the board these can be provided in several formats. NEVER copy a note from the board that you do not understand it will not be any clearer in 6 months time when you come to revise! Always ASK if uncertain. Accuracy is essential read through your notes after copying them and this applies also to diagrams or numerical results taken for the board. If you have a real problem taking notes down from the board in the time made available please have a word with your teacher so that other arrangements can be made. Dictated notes. There will not be many of these they will mainly be used for definitions etc. ASK if you cannot spell any of the words or if you do not understand the point being made reading through dictated notes is essential to ensure that key words have not been left out. Notes from books and articles. Occasionally you may be asked to make your own notes from written material such as books or articles. The best strategy here is to break the material down into stages e.g. each paragraph, and write a brief bullet point on each stage. The bullet point need not necessarily be a perfect English sentence but it must make sense to you even months later. For example, when noting the impact of higher interest rates on a business a student wrote: Costs rise. A much better note would have been Overhead costs of businesses rise, especially those with high gearing. Another tip is to highlight the key terms as you write the notes to draw your attention to them when you come to revise. c) KEEPING FILES

Your files should contain all of your class notes, past prep assignments, class handouts and photocopied notes and class exercises. These will be checked by your teacher at least once a term. Without a well kept file STUDY in this subject will become much less effective. These are the golden rules for keeping good files in Business Studies: Use several files. Do not put everything you have ever covered in Business Studies in one file! Imagine what you would do if you lost it! One file should be your current file with work and notes from the last two weeks. Other files, kept in the house, should be used for past work one per Unit of the subject. Use dividers. These coloured cards allow you to separate your work between each topic and will mean easy reference for prep research and for revision. Each divider should have the titles of the topic it refers to. Keep them neat. Loose papers get lost. Scruffy notes do not encourage you to read them. Clear sections allow for ease of reference e.g. one for notes, one for marked preps. And one for past tests and examinations. d) EXAMINATION SKILLS Doing well in exams. is not just about learning the subject matter this is necessary but not SUFFICIENT for you to achieve a good grade. The most successful students in exams. have good examination skills. You can improve yours by following this advice: Managing time effectively. You will gain so much practice at tests under timed conditions that we are sure that if managing time is a problem for you now it will be less of one by the time you take the examinations. If you have extra time this must be managed too it is not just a question of writing more, but taking time out to read the material and questions even more carefully. Understanding the skills that you will be assessed on. There are four of these and not all of them will be assessed in every question. The skill is knowing what EACH

question demands of you. Here are details of the four skills that the examiners are looking for: 1. 2. Knowledge. Have you gained a sound grasp of all of the terms, definitions, formulae and diagrams covered throughout the course? If not, then not only will you gain ZERO marks for this skill you will not be able to gain any marks at all! Key prompt words/terms are: Define, what is meant by, State, List. 3. Application. Can you use your knowledge to answer the question in the context of the case study business? If you cannot use the case study to help you answer the question then you will not be applying your knowledge. Key prompt words/terms are: Outline for this business, Suggest the possible impact on this business. 4. Analysis. Are you able to use the theories and techniques of the subject to help develop and explain your answer? This is not just more knowledge it requires the use of the main concepts of Business Studies to help you examine your answer in much more detail. Key prompt words/terms are: Explain, Analyse, Examine. 5. Evaluation. This is not as important at AS level as the other skills are but it is crucial at A level. It means making judgements just the kind of judgements that business people have to make every day e.g. making a recommendation whether to lower the price of a product or not. Key prompt words/terms are: Evaluate, Recommend, To what extent, Assess, Consider. e) ANSWERING DATA RESPONSE QUESTIONS

The Unit 1 examination (Accounting and Marketing) is made up of TWO data response questions. These are short passages, sometimes newspaper articles. Four questions will be based on each passage, one of which may be a calculation question. The first question will always be a definition so accurate subject knowledge will be essential. The second and third questions will require some application and some analysis. The final question will be evaluative. It is important to remember: i) Accurate subject knowledge is essential ii) The business and the context it is in must be referred to in all answers, apart from the definition although if the definition is worth 3 marks it is useful to define the term in context. These references will earn you application marks so it is important to read the passages carefully and highlight what you consider to be the key points. iii) Only the last question will require evaluation do not waste time by evaluating your answers to the other questions as no additional marks can be gained. iv) You will be given a great deal of practice at answering these questions note how the mark schemes allocate the marks for each question. f) ANSWERING CASE STUDY QUESTIONS The examinations for Units 2,3,4 and 6 are all based on Case Studies. These are extended passages containing many details about the problems of and the decisions made by one business. Unit 2 (People and Ops Management) and Unit 3 (External Influences and Objectives and Strategy) are both based on the same PRE-ISSUED case study. We receive this several weeks before the examination. This gives us all a great deal of time to read and analyse the case in detail although it is often very difficult to tell what the questions are going to be! i) Application of your answers to the case will be important for EVERY question.

ii) Evaluation will be required in at least two questions on both Units but you should be able to identify these from the key terms as used above. Unit 4 is an A2 Unit (Accounting, Marketing, People, Ops Man) and is not pre-issued. i) Application and analysis are the two most important skills on this paper. Analysis is examined, in particular, by the use of numerical questions requiring calculation. ii) Evaluation will be required on some of the questions you will, by the time this examination is taken, be able to easily spot which ones. Unit 6 is an A2 Unit (External Influences and Objectives and Strategy) and is not pre-issued. i) The most important skill on this Unit is evaluation. EVERY question will require judgement to be shown in the context of the case study business so all answers have to be applied to. ii) This Unit is synoptic this means that it is designed to test your understanding of the course as a whole. In answering some of these questions you may find that you are using some material and ideas covered in different parts of the course this is expected by the examiners.

g) REVISING You can help yourself greatly in preparing for your Business Studies examinations by following some important steps. No one likes examinations but there is no need to be afraid of them if you prepare yourself well, have a good awareness of what the examiners are looking for and apply important examination techniques. The following steps will help you to get organized for

the revision period and should help to make your revision more effective: Step 1: Make sure that you have a copy of the Business Studies specification for the Units you are taking. Step 2: You should use this copy to check not only that you are revising the correct material but also you should tick off each topic once you have revised and understood it. Step 3: Make sure that your notes are well ordered and divided up as indicated in the section above on making and keeping noted. Step 4: Make sure that you have all of the past questions for the Units you are taking plus the mark schemes. Going through these should be an essential part of your revision programme. Step 5: Plan your revision time carefully. A revision timetable is essential as it will allow you to allocate a certain amount of time to each important topic area. Make your timetable as detailed as possible, for example: Thursday Revise Operations Management is not detailed enough. It is better to lay out your timetable like this: Thursday: 09.00 to 09.30 Revise costs and costing methods

Possible revision techniques. It is wrong to be too prescriptive about revision techniques. What works well for one person may not be appropriate for others. Here are some possible revision strategies try them out and see which ones suit you best. 1. Use short revision sessions but many of them! Psychological studies have shown that our learning abilities decline sharply after around 30 minutes of intensive study. Arrange your timetable so that in each day you have several 30 minute sessions with breaks in between not just one session of several hours. 2. Use active revision techniques. Reading has a place in revision but it is rather passive. Active revision techniques have been shown to be more effective. These include:

 Re-writing notes in a different style Making new notes on a topic e.g. from a textbook Making spider diagrams or mind maps with key words and terms (see example below)

INTERNAL EXTERNAL
Profits loans Reserves

SOURCES OF FINANCE

shareholders funds debentures leaseback sale &

Test yourself frequently with simple written tests that you can mark yourself e.g. definitions. Revise with a friend on occasions and test each other Make easy to refer to revision cards containing a few key facts, figures or diagrams. An example is shown below.

Revision Card 33 Specification area: Operations Management Unit 2

Economies of Scale: Definition: The benefits gained by businesses as they increase their scale of operation that lead to reductions in average costs Causes: a) Purchasing: bulk buying discounts b) Financial: lower interest rates, public share issue c) Marketing: fixed cost of advertising campaign spread over higher output d) Technical: advanced efficient equipment can be afforded and fully used e) Managerial: specialists can be employed in each department h) Preparing coursework At Hurtwood we enter all students for the Unit 5 Coursework Unit. This is an extended project that analyses a business problem and evaluates possible solutions to it. The most common title is based around a new business feasibility study such as: Would it be profitable to open a new nightclub in Guildford? To achieve a top mark for this you will need to: Follow all guidelines given by your teacher Conduct your own secondary and primary research suggestions will be given to you over sources and methods Use IT extensively e.g. word processing, data base and spreadsheets Keep to the tight deadlines that will be set Make your work as original and analytical as possible mere description will earn few marks.