A Level Business
“There is one and only one social responsibility of business–to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud” (Milton Friedman). On the other hand, “the idea that business is about maximising profits for shareholders is outdated and doesn’t work … as the recent global financial crisis has taught us”
R. Edward Freeman
Business is one of the most relevant subject you will ever experience! Not everyone is going to be an entrepreneur (although an increasing number will have a go), however, wherever you go and whatever you do, you will be in in an organisation surrounded by and/or working for a business of some sort. So why not get ahead of the game?
The breadth of the subject is vast and will introduce you to ideas from marketing, law, finance and accountancy, operations, economics, sociology, psychology, strategic and systems thinking as well as moral philosophy.
The course analyses UK business operations, but the scope of learning is global. You will learn through case studies, project work, research assignments, class discussion and group activities. Computers are used to aid business analyses and to enable you to experience business situations in a challenging and stimulating way. The aim, in all activities, is to develop a firm grasp of business principles by applying these to real-life case studies where the emphasis is on decision-making and problem-solving. Independent learning is also an important feature of the course.
Ever thought about these?
- Will British companies be successful when, after Brexit, they face more intense global competition?
- Can we identify the key characteristics of successful entrepreneurs?
- How do you motivate people in the workplace? Does paying them more really work?
- How do business finance their activities? What is a balance sheet; an income statement; a cash flow forecast and a sales budget? What is limited liability? Why is gearing important?
- How do businesses create, capture and sustain value in competitive markets?
- Why do firms relocate overseas? What is outsourcing?
- How has social media affected business? What is big data?
- Should firms act in an ethical manner even if that means lower profits and redundancies? What principles should guide ethical decisions?
Business Studies combines well with many subjects and allows you to keep literacy, numeracy and IT skills sharp and is one of a small number of subjects that delivers a substantial premium in terms of earnings over typical graduates.
Theme 1: Marketing and people including meeting customer needs, the market, marketing mix and strategy, managing people and entrepreneurs and leaders.
Theme 2: Managing business activity including raising finance, financial planning, managing finance, resource management and external influences.
Theme 3: Business decisions and strategy including business objectives and strategy, business growth, decision-making techniques and influences on business decisions, assessing competitiveness, managing change.
Theme 4: Global business including globalisation, global markets and business expansion, global marketing and global industries and companies (multinational corporations).
University Courses and Careers
The course develops some important skills such as the ability to think critically and is therefore highly regarded by employers and universities. Many go on to study Business, Management or Finance related degrees at university or Business apprenticeships. If you choose another path either at university or through employment, you will have gained an invaluable insight into the world of work and how organisations function.