Year 11 — Business Studies

Term 1: Topic 2.2 Making marketing decisions

Students will explore how each element of the marketing mix is managed and used to inform and make business decisions in a competitive marketplace.

Students will sit an EOU Assessment based on exam questions. The areas assessed will be: - Marketing mix and it's application to varies case studies. Practice will develop AO2 and AO3 marks

Aesthetics

How things appeal to the senses; do they look great, smell good, feel nice, sound solid (the 'ker-lunk' of a BMW door shutting) and taste great?

Economic Manufacture

Making the product cheaply enough to make it profitable.

Extension Strategy

An attempt to prolong sales of a product for the medium to long term, to prevent it from entering its decline stage.

Function

How well the product or service works for the customer; for example, are the beds comfortable at a hotel; does the smartphone take sharp photos?

Product Differentiation

The theory that every product goes through the same four stages of introductions, growth, maturity and decline.

Profit Margins

Profit as a percentage of the selling price (one unit) or as a percentage of total sales revenue (for the business as a whole).

Branding

Giving your product or service a name that helps recall and recognition, and gives a sense of personality.

E-newsletters

Regular updates on the activities of a business sent electronically to actual or potential customers.

Promotional Strategy

A medium to long term plan for communicating with your target customers.

Sponsorship

When companies pay to have a brand associated with an iconic individual or event (usually connected with sports or the arts).

Viral advertising

When young people start to spread your message for you through social means, be it word of mouth or via social media.

Distribution

How ownership changes as a product goes from producer to consumer.

E-tailer

An electronic retailer; in other words purchasing electronically, either by e-commerce or, more likely these days, mobile commerce (M-commerce).

Retailer

A shop or chain of shops, usually selling from a building in a high street or shopping centre.

Budget

A ceiling on the amount of money that can be spent; a marketing budget of 1 million means the marketing manager can spend up to that figure, but no more.

'Inform' decisions

Evidence that can be used to make a better decision; a company can gain a better understanding of its customers through the 4Ps which helps in decision making.

  • Spiritual
  • Moral
  • Social
  • Cultural

Develop the individual:

The student will learn the various legal requirements for a business and balancing various objective to ensure they meet customer needs and the business goals.

Create a supportive community:

Through discussion, studying real life case studies they will build strong analytical and evaluation skills.

Term 3 : Topic 2.4 Making financial decisions

Growing a business means that decisions relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These aspects are considered in this final topic - remote teaching

An end of unit assessment will be carried out using a case study to allow the student to practice how manage people. They will have to apply the theories that thye have learnt during the term - remote teaching

Cost of sales

The direct costs of purchasing raw materials and manufacturing finished products

Profit margin

A measure of profitability calculated as a percentage of revenue

Inflation

The general increase in prices over time

Variable

A quantity used in calculation or some measurable piece of information

Demographic

Relating to the structure of a population

Qualitative data

Concerning the quality of something that cannot be measured in numbers

  • Spiritual
  • Moral
  • Social
  • Cultural

Develop the individual:

Students will learn what motivates or demotivated people in business. they will develop skills in how to analyse and suggest the best method to make a business function effectively - remote teaching

Create a supportive community:

Through role play and group work they will gain first hand experience in what makes people happy and love their work. Also they will see how small changes can motivate or demotivate workers - remote teaching

Term 4: Topic 2.5 Making human resource decisions

Growing a business means that decisions relating to organisational structure, recruitment, training and motivation need to be made to influence business activity. These aspects are considered in this final topic- remote teaching

An end of unit assessment will be carried out using a case study to allow the student to practice how manage people. They will have to apply the theories that they have learnt during the term - remote assessment

Layers

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

Span of control

The number of employees that are managed by a manager. If a person manages three employees, their span of control is three

Accountability

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

Jargon

Technical or obscure words or terms used by a particular group of people that may not be understood by everyone

Freelance

Someone who is self-employed and contracted by businesses to work for them

Productivity

The measurement of how much work a business is able to complete. Higher levels of productivity mean that employees are completing more work

Legislation

The laws that a business must comply with

Motivation

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

Autonomy

Independence or freedom to make your own decisions

Job satisfaction

The sense of achievement or fulfilment that an employee gets from their job

  • Spiritual
  • Moral
  • Social
  • Cultural

Develop the individual:

Students will learn what motivates or demotivated people in business. They will develop skills in how to analyse and suggest the best method to make a business function effectively - remotely

Create a supportive community:

Through role play and group work remotely they will gain first hand experience in what makes people happy and love their work. Also they will see how small changes can motivate or demotivate workers.

Term 2: Topic 2.3 Making operational decisions

This topic focuses on meeting customer needs through the design, supply, quality and sales decisions a business makes

An end of unit assessment will be carried out using a case study to allow the student to practice their evaluation and analysis skills in relation to how design, supply, quality can effect sales.

Bespoke

Designed and made for an individual customer

Automation

Using machinery or robotics to do jobs instead of using people to do them

Profit

The proportion of revenue left over after costs have been deducted

Economies of scale

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

Downtime

Time when a person or machine is not producing anything

Standardised

When every example of a product is exactly the same as the others

Cost per unit (average cost)

How much it costs to make each product or service, taking into consideration all of the variables cost

Variable costs Costs

Variable costs Costs paid by a business that change depending on how many products or services the business sells

Logistics

The organisation and management within a business of the transport of raw materials and goods

Competitive advantage

An advantage a business has over its rivals that is unique and sustainable

  • Spiritual
  • Moral
  • Social
  • Cultural

Develop the individual:

The student will gain confidence in the application of knowledge to analyse, evaluate and make suggestion on which option they feel will optimise a businesses customer satisfaction, revenue or profit.

Create a supportive community:

The student will gain confidence in supporting their views and improve their decision making skills through group work and class discussion.

Term 5: Term 5 GCSE Examinations and Revision

Examination takes place

External examination takes place through May and June

Point

Setting out what you want to say

because

the explanation of the point

leads to

the consequence of the point made

therefore

What will be the outcome of the consequence

which should

What will be the likely impact of that consequence

  • Spiritual
  • Moral
  • Social
  • Cultural

Develop the individual:

Not applicable

Create a supportive community:

Not applicable