Business at Sir Thomas Rich's
Business Studies is a wonderful subject which offers students an insight into the real working world.
Business is a dynamic subject as the business environment is constantly changing and this one reason why the subject is so exciting to study. Business involves analysing the internal workings of contemporary business organisations with the focus being on departmental areas such as marketing, finance, human resource and production. The external environment within which businesses operate is also studied and the effects this can have upon decision-making within a business.
Both Business and Economics develop skills in: analysing and interpreting data, assessing different viewpoints, applying concepts to the real world, delivering presentations and working in a team.

Key Stage 4 - Years 10 & 11
- Private v public sector
- Role, motives and characteristics of an entrepreneur
- Business planning and business aims
- Types of business organisation
- Business growth – internal and external
- Impact of globalisation on business
- Business costs, revenue and profit
- Location decisions
- Ethical and environmental influences on business decision-making
- Market research and marketing decisions on product, price, promotion and place
- Impact of legislation on business
- Organisational structures and how they change as a business grows
- Recruitment and selection methods
- Benefits and types of training
- Methods of motivation
- Role of trade unions
- Methods of production
- Use of technology in business
- Quality control measures
- Stages of the supply chain
- Sources of finance
- Average rate of return
- Cash flow
- Economic influences on business decisions
After studying GCSE Business students are in a very strong position to continue to study A Level Business in the Sixth Form. Alternatively students may wish to consider A Level Economics that takes a broader approach in studying the markets and the whole economy, covering such topics as labour markets, international trade and unemployment. However, this course is not a prerequisite for studying either A Level Business or A Level Economics.
- Importance of the entrepreneur and SMEs to the economy
- Features of different organisational structures including not-for profit organisations
- Production: decisions influencing business location, business revenue, costs and profit; production methods and quality control, stock control, technology and lean production
- Marketing: different types of markets, market research, market segmentation, detailed analysis of 4Ps, use of digital media, features of different types of competitive markets, demand, supply and market price, reasons for changes to market price
- Financial topics: break-even analysis and what if analysis, role of budgeting, importance of cash flow forecasting, income statement and sources of finance
- Human resources: workforce planning, recruitment and training, appraisal, measuring workforce performance, organisational design, motivation and leadership styles
- Data analysis such as index numbers
- Sales forecasting, both quantitative and qualitative methods
- Analysing budget variances
- Interpreting the Balance Sheet and calculating financial ratios to assess business performance
- Aims and objectives of organisations
- Types of strategy and management responsible for implementing
- Types of growth: internal and external
- Usefulness of Ansoff matrix theory and SWOT analysis
- Decision making models: critical path analysis, decision trees and cost-benefit analysis
- Investment appraisal methods
- Management of change and risk
- PEST factors: political, economic, social and technological
- Ethical, legal and environmental factors
- International trade including free trade and protectionism
- Globalisation and strategies to achieve global growth/global brands
Due to the demands of the quantitative topics, students should feel confident in their numerical ability. Students should also possess strong literacy skills as they will be required to answer high mark questions as well as planning and writing essays.
Students are encouraged to read a quality newspaper daily, the Learning Resource Centre (LRC) subscribes to the Financial Times. The Business Review is also highly recommended and again a copy is available through the LRC. Further advice on extended reading, such as textbooks, recent non-fiction books, websites and blogs can be found on Sharepoint.
I really enjoyed the variety that came with studying Business, covering a range of subjects involving various business departments and the external environment. The teachers at STRS delivered very interesting classes by including real life examples. I put my knowledge from Business Studies to use by taking part in Young Enterprise, which as a team we found to be a fun and rewarding project. I enjoyed Business Studies so much that I decided study International Management at university and enormously appreciate the base of knowledge that Business Studies has given me.
-- Hayden Lefley, now studying Business Management at Bath University
- Young Enterprise
- BASE Challenge (Accounting and Finance Competition)
- Shares for School Competition
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Trips are organised every year but vary from year to year. Recently we have attended:
- Your Green Future Conference
- Ethical Business Conference
- Land Rover talk and tour
