Students will explore the following subtopics:
2.1.1 Business growth
2.1.2 Changes in business aims and objectives
2.1.3 Business and globalisation
2.1.4 Ethics, the environment and business
Research into new products or processes and developing ideas that are generated from research
The act of creating new products or processes
Using the internet to carry out business transactions
When two or more businesses join together to operate as one business
When one business buys another business and incorporates it into their own business
An incorporated business that can sell shares to the public (also known as a PLC)
A business with operations in more than one country (also known as multinational corporation or MNC)
Items owned by a business, such as premises, equipment or stock
The cost of borrowing, or a percentage of the amount of money borrowed that must be repaid in addition to the original amount borrowed
Guaranteed, because if the business fails to pay back the money the bank can take the asset and sell it
A percentage of a businesss profits that is paid to shareholders as a reward for their investment in the business
The process of changing a business to a public limited company (PLC) by issuing shares for sale on a stock exchange
A place where shares in PLCs can be bought and sold
The number and size of businesses competing in a particular market
The proportion of sales in a market that taken by one business
The general attitudes, behaviour and beliefs of a business and its workforce
When a business downsizes the scale of operations by reducing the number of employees or closing less profitable branches
The way in which the workforce is organised, usually a hierarchy with people reporting to managers all the way up to the chief executive officer (CEO)
The range of goods and services offered by any one business
When businesses operate on an international scale and gain international influence or power
The flow of goods and services into a country from another country
The flow of goods and services out of a country to another country
At home or within a businesss home country
A tax imposed on imports and exports
An action taken by government to reduce the flow of imports into the country
A group of countries that agree to act together to promote trade between themselves
Adapt to suit the local area and its needs, particularly in terms of culture, language or geographical location
Moral principles or standards that guide the behaviour of a person or business
Anyone who has an interest in the activities of a business, such as its workers, its suppliers, its directors, the local community and the government
A balance between two differing or opposing objectives, such as making a profit and spending money on ethical activities that will enhance the businesss reputation
The proportion of revenue left over after costs have been deducted
Detailed review of a businesss impact on the environment, either conducted by the business itself or by an independent organisation
Acting to ensure that natural resources are use responsibly, to protect the environment for future generations
A resource that does not renew itself quickly enough to meet societys consumption of that resource, such as oil and natural gas
A group of people who join together to try to influence government policy or business policy for a particular cause
Refusing to buy from or interact with a particular business or organisation
Using online channels, such as video-sharing or social media sites, to spread a campaign message by encouraging people to share with their friends
Trying to influence the government or other organisations
Students will learn various ethical and environmental requirements that a firm needs to adhere to as well as balancing various objectives from different stakeholders.
Students will learn to discuss key topics in context in order to build arguments and debate rationally.
Students will explore the following subtopics:
2.2.1 Product
2.2.2 Price
2.2.3 Promotion
2.2.4 Place
2.2.5 Using the marketing mix to make business decisions
The four Ps of marketing, which are product, price, promotion and place
The visual attractiveness of something
Capable of working or succeeding
The range of goods and services offered by any one business
A situation where average costs (of production, distribution and sales, for example) falls as business increases the amount of product that it produces, distributes and sells
Increase to the greatest possible amount or make the most of something
Something that makes a product stand out from its competitors
A large market where customers have similar needs and characteristics
A characteristic relating to an entire group, not specific
A small market where customers have very specific needs or characteristics
No longer produced or sold
Language intended to affect people at an emotional level, usually using adjective such as crazy, cutting-edge or cool
The way in which something is communicated (media the plural of medium)
A short-term special offer, usually in form of a discount, used by a business to attract customers to buy a product or service
The products held by a business in a shop or warehouse for sale to customers
A group of people who join together to try to influence government policy or business policy for a particular cause
Advertising using social networking to increase sales of boost brand awareness
Using the internet to carry out business transactions
Using mobile technologies, such as smartphones and tablets, to carry out business transactions
Selling products or services to customers in this case, in a physical shop
Retailing to customers through the internet, such a through an e-commerce website
The amount of money added to the cost price of a product or service to make the final retail price
An e-commerce website or service that is run by an unrelated business
A marketing mix that has a theme with the elements all supporting each other
A legal protection of an invention, design or idea, meaning that it is illegal for another company to copy it
Students will gain confidence in exploring the different assessment objectives that include evaluating options that will satisfy different stakeholders in relation to marketing.
The student will gain confidence in supporting their views and improve their decision making skills through group work and class discussion.
Students will explore the following subtopics:
2.3.1 Business operations
2.3.2 Working with suppliers
2.3.3 Managing quality
2.3.4 The sales process
Designed and made for an individual customer
Using machinery or robotics to do jobs instead of using people to do them
The proportion of revenue left over after costs have been deducted
A situation where average costs (of production, distribution and sales, for example) falls as business increases the amount of product that it produces, distributes and sells
Time when a person or machine is not producing anything
When every example of a product is exactly the same as the others
How much it costs to make each product or service, taking into consideration all of the variables
The management of the flow of goods and resources through the production process
The process of managing a businesss major purchases, from raw materials to delivery vans
Costs paid by a business that change depending on how many products or services the business sells
Rise and fall in number or amount
The organisation and management within a business of the transport of raw materials and goods
Likely to go out of date or go off quickly
A standard of quality given to a business that is accredited by a professional body
An advantage a business has over its rivals that is unique and sustainable
Retailing to customers through the internet, such a through an e-commerce website
Selling products or services to customers in this case, in a physical shop
The act of buying or selling something
Concerning the quantity or amount of something that can be measured in numbers
A standard of measurement
Concerning the quality of something that cannot be shown in numbers
Show that something (in this case, a product) is different from similar things
Help students understand how firms operate from the production process right through to customer service.
Students will work together to help understand how operations can help other functional areas within a business.
Students will explore the following subtopics:
2.4.1 Business calculations
2.4.2 Understanding business performance
2.5.1 Organisational structures
2.5.2 Effective recruitment
2.5.3 Effective training and development
2.5.4 Motivation
The direct costs of purchasing raw materials and manufacturing finished products
A measure of profitability calculated as a percentage of revenue
The general increase in prices over time
A quantity used in calculation or some measurable piece of information
A graphic representation of information to make it interesting and easy to understand
Relating to the structure of a population
Concerning the quality of something that cannot be measured in numbers
In an organisational structure, this means the levels of job roles in the business, from the highest-paid directors to the most junior members of staff
The number of employees that are managed by a manager. If a person manages three employees, their span of control is three
Being responsible for something and being held responsible for it and its outcomes. For examples, a manager is often accountable for the actions of their staff
Technical or obscure words or terms used by a particular group of people that may not be understood by everyone
Someone who is self-employed and contracted by businesses to work for them
These are different jobs within a business. For example, roles in a restaurant might include head chef, chef kitchen assistant and so on
These are the things that someone is required to do in order to fulfil their role in a business. For example, at a restaurant, a responsibility of the role of head chef might be to create the restaurants menu
A range of possible salaries for the role being advertised. For example, a role may be advertising as having a Band 1 salary, where Band 1 covers salaries between £15,000 and £20,000. The band will be part of a larger salary scale
The measurement of how much work a business is able to complete. Higher levels of productivity mean that employees are completing more work
The laws that a business must comply with
Reasons for behaving in a particular way. In business, motivation usually refers to the reasons that an employee has for working well and increasing their productivity
Keep something or someone
Independence or freedom to make your own decisions
The sense of achievement or fulfilment that an employee gets from their job
Students will learn how to use business formulas in context as well as using effective human resource methods to motivate workers.
Through a mixture of individual and group work, students will gain first hand experience in what makes workers happy and productive. Students will further explore how small changes can motivate or demotivate workers.
Students will revisit selective topics from theme 1 topics covered in year 10 and practice exam style questions on selected topics from theme 2.
Subsequently Firstly / secondly Next / then Once At length Eventually Meanwhile So far
In particular Notably More importantly Indeed In fact Notably specifically
Surely… Obviously Naturally Clearly Certainly evidently
And Also Furthermore In addition Too Again What is more Moreover As well as
Consequently Thus Hence As a result Accordingly Since Until Whenever As long as
One factor is… Meaning that… Therefore,… Leading to… Resulting in… And finally,…
Students understand the importance of assessment objectives and how they contribute to the students ability to write effectively.
Students learn how to deal with a multitude of requirements and how to satisfy the needs of others.