Business and economics

Gareth Bashford GBashford@Sandbachhigh.co.uk 

Level 2 Cambridge National Enterprise and Marketing

 What will you learn and how will you be assessed?

 Unit R068 Design a business proposal (coursework worth 30% of the overall mark)

 Develop and complete market research

• Use research to decide your target market and produce product design ideas
• Use self and peer feedback to help decide on the final design of your product
• Complete financial calculations to determine whether your proposal is likely to make a profit

Unit R069: Market and pitch a business proposal (coursework worth 30% of the overall mark)

• Design a brand identity and create a promotional campaign to get your brand noticed by customers
• Develop a presentation that you will pitch to an audience
• You will reflect on your pitching skills, your brand proposal, your promotional campaign and the likely success of your product

Unit R067 Enterprise and marketing concepts (exam worth 40% of the overall mark)

• Learn about the characteristics, risk and reward of enterprise
• Learn how market research gives insight into the wants and needs of its customers so that products and services can be developed to satisfy them.
• Learn about what makes a product financially viable
• Learn how the marketing mix elements must be carefully blended to enhance business performance
• Learn about the types of ownership for an enterprise and the sources of finance available
• Learn about the support available to entrepreneurs

Level 3 BTEC National in Business

This course develops highly specialist work-related skills and ultimately provides students with the knowledge and understanding they need to prepare for higher education and the world of work. It is a practical course, where students develop their ability to learn independently, research actively, and be active group members.  

Unit 1 

Students gain an overview of the key ingredients for business success, how businesses are organised, how they communicate, and the characteristics of the environment in which they operate. Students look at the importance of innovation and enterprise to the success and survival of businesses. 

Unit 3 

Students learn accounting terminology about the purpose and importance of business accounts and the different sources of finance available to businesses. Students will analyse profitability, liquidity, and business efficiency. It gives students the knowledge and understanding to manage their own personal finances.  

Unit 2 

Students examine the marketing aims and objectives for existing products/services, and understand the importance of relevant and valid research in relation to customers’ needs and wants.  

Unit 14 

Students learn about communication and interpersonal skills, and effective relationships when dealing with customers. Students also examine how businesses monitor and evaluate their level of customer service. 

AQA A Level Economics 

Economics is the world and everything in it. It is an exciting and dynamic A Level for students that crave the ultimate in academic rigour. As a social science, Economics sits neatly between the arts and the sciences and it is attractive to students from both backgrounds.  

There is a strong theoretical component to Economics, but it is driven by a need to explain the real world. Economics has been high-profile since the banking crisis and credit crunch. Examples of questions that students consider include, was Royal Mail floated too cheaply? How does a rise in interest rates affect both firms and individuals? Has the progress made towards free trade brought significant economic benefits, both to the UK, and to the rest of the world? Is government borrowing a cause for concern? Economics continues to be in the media with social issues, such as, the impact of BREXIT, Covid-19, and the escalating cost of living for families.  

Economics falls into two distinct areas, Microeconomics (the study of individual markets, e.g. explaining why house prices are currently increasing?) and Macroeconomics (the study of the economy as a whole, e.g. why is unemployment increasing?).  

In Microeconomics, students study how markets work and why they fail, along with different types of market structure. Students also learn about labour markets to explain, for example, why footballers earn more than nurses and how the distribution of income and wealth affects poverty. A new addition to the micro side of the course is, ‘Behaviour Economics’, where students learn about the reasons behind consumers’ decisions and how they can be ‘nudged’ into making different ones.    

Macroeconomics looks at the big picture of the national and international economy. Students will critically evaluate the effectiveness of government intervention to improve, for example, employment levels. Recent additions to the macro side include, ‘Financial Markets’ and the part they play in the wider economy.  

• KS4

Cambridge National - Enterprise and Marketing, KS4, OCR

https://ocr.org.uk/qualifications/cambridge-nationals/enterprise-and-marketing-level-1-2-j837/

• KS5

BTEC National - Extended Certificate - Business, BTEC 

https://qualifications.pearson.com/en/qualifications/btec-nationals/business-2016.html

A Level Economics, AQA

https://www.aqa.org.uk/subjects/economics/as-and-a-level/economics-7135-7136

Trips   

• Cadbury World  
• Jaguar land Rover  
• Tutor2U Revision Workshops by some of the best economists in education. 

Clubs  

• Interest Rate Challenge –a team of students adopt the role of the Bank’s Monetary Policy Committee determining the UK’s interest rate. 
• Student Investor – experience of what it's like to invest in stocks and shares.  
• Tenner Challenge – students develop key employability skills including, creativity, resilience, and problem solving, with the goal of making profit. 

Enterprise Days 

• Enterprise days are a way that young people prepare for a world which is rapidly changing and help students to become confident individuals and responsible members of society. 

Ways you can help your child at Key Stage 4  

 Always be on the lookout for articles, tweets, TV news pieces that give you contextual examples to add to your class notes.    

 Encourage your child to: 

• Take part in the Tenner Challenge.   
• Visit businesses in the local area and observe how they operate.  
• Be inspired by reading about the success of famous entrepreneurs.    
• Regularly read BBC News especially the Business and Economics section 

Ways you can help your child at Key Stage 5  

Encourage your child to: 

• Always be on the lookout for articles, tweets, TV news pieces that give you contextual examples to add to your class notes.    
• Read the Deloitte Monday Briefing written by Ian Stewart – a superb, concise resource that covers some important ground.   
• Read journals with an economics / business / financial slant that offer free access to readers.  

Further information for Key Stage 5 on the Sandbach College page for Level 3 BTEC National in Business - https://www.sandbachcollege.co.uk/level-3-btec-business/