King's College - Business Studies

Business Studies

Head Of Department - Mr M Naidoo, BEd (Massey), DipTchg

Email: m.naidoo@kingscollege.school.nz

Why do Business Studies?

Research has indicated that an increased uptake in business courses is due to the fact that students are being increasingly pressurised to think about the future beyond present studies, whether this is in the form of higher education or a career.

Business Studies offers a more direct link to the real world than traditional subjects, preparing students for the future. It also complements the study of the specialist subjects Accounting and Economics.

Various industrial and commercial sectors have frequently re-iterated the importance of industrial understanding as a pre-requisite to work, focusing on 4 central learning criteria; knowledge, skills, concepts and attitudes (ability to distinguish facts from fiction). There is an increasing demand for a new generation of skills-based students.

Business education represents the broader picture of industrial and commercial activity, incorporating aspects such as marketing and human resources as well as encompassing economic theories and financial management.

A background in Business Studies is useful for any person with career interests in areas such as Commerce, Law, Business Management, Marketing, Finance, Accounting, Banking, Retailing, Manufacturing, Tourism, Insurance, Information Technology, Resource Management, Consultancy and self-employment.

Business Studies at King's College begins with Year 10 Business Education - an introduction to the business world and leads into both NCEA and CIE Accounting and Economics.

Business Education - Year Ten

Why is Coca-Cola so successful? What does it take to be a successful businessman? Are they born? Are they developed?

This course provides answers to these in a concise introduction to the business world and also covers basic Business concepts and Entrepreneurial skills that gives students the opportunity to discover key economic skills concepts and basic Accounting skills which will serve them, well past their College and University lives.

The course covers three areas - Successful Entrepreneurship, Economics and Accounting (Strategic Financial Management). Economics enables students to study the way in which decisions are made by consumers so that they can balance their basic needs and wants in response to their environments. Students will also gain a sound base in financial management for both personal and business use and will learn how to make decisions using financial information.

To complement both of these, Successful Entrepreneurship aims to expose students to the values, skills and qualities needed to be an enterprising and successful person in today's world - in whatever career one may choose.

Over the year students will be introduced to Marketing, Business acquisition, financial language of Accounting, Budgeting, Economics and Consumer Laws. They will become familiar with terms specific to Business that will also be used from Year 11 onwards in all forms of Business Education, in particular:

NCEA Level 1 or IGCSE Accounting,
NCEA Level 1 or IGCSE Economics, and
IGCSE Business Studies

Students will also develop and achieve:

An understanding of how economic decisions are made
An understanding of the impact of values on personal choice
Skills in becoming an enterprising person and be willing to take risks
Make informed decisions based on financial and non-financial information
Essential skills in a range of financial contexts - personal and small business.

IGCSE Year 11

The Business Studies course covers five areas:

Business Studies course covers five areas:

Business and the environment in which businesses operate.
Business structure, organization and control.
Business activities that achieve objectives set for Marketing, Production (Operations management) and Finance.
People in Business - such as management and motivation styles, recruitment, dismissal and redundancy.
Regulating and controlling business activities

The course draws upon business practices at local, national and global levels and is taught through a blend of theory and application of case studies. Students are asked to learn concepts and apply their learnt knowledge to solve problems encountered by businesses often in an imaginative and creative manner.

The course also facilitates the development of other skills, such as numeracy and enquiry. Students are encouraged to understand the working world and the essential values of cooperation and interdependence.

Students wishing to undertake the course should possess a high degree of competence in English and Mathematics and have very strong problem solving skills. This is due to the significant amount of "essay-style" questions and given case studies; concepts such as ratio and break-even analysis, financial ratios, cash flow forecasts, exchange rates, presentation and interpretation of data are integral parts of the examination.

This course provides an excellent opportunity for those students who wish to familiarise themselves with business concepts and practices that they will encounter in later life. It also provides an excellent foundation for those wishing to go into AS Level and/or pursue Business/Commerce and Law degrees in the future.

Assessment is covered in 2 examination papers:

Paper 1: Focuses on application of knowledge and understanding and comprises:
- Short-answer questions and structured/data response questions.
Paper 2: Focuses on analysis, evaluation and decision making and comprises:
- Case study stimuli and related questions.

Places may be limited for Year 11 and the HOD will make final selection of students.

NOTE Students will be allowed to select a maximum of two of the three Commerce subjects offered ie two of Accounting, Economics or Business Studies.

Advanced Subsidiary Level (AS) Year 12

The AS Business Studies course covers seven broad integrated topics of study:

Business and the Environment - including the nature and need for businesses, economic structures of business, business strategy, corporate culture and strategy
People in Organisations - including the need for and nature of organisational structure, motivation, leadership and management
Marketing - including the role of marketing, product portfolio planning, the Marketing Mix
Operations Management - including the nature and organization of production, operational efficiency, quality control and assurance
Business Finance - including the need for business finance, sources of finance, money and capital market institutions
Business Accounting - including the need for business accounts, what the published accounts contain, analysis of published accounts, investment appraisal, managing cash flows
Information for Decision-making - including sources and reliability of information, collection of information, presentation of information, data analysis and evaluation

The course aims to encourage students to understand and appreciate the nature and scope of business, its role in society and to develop critical understanding of organisation, the markets they serve and the process of adding value. This will involve consideration of the internatl working and management of organisations and, in particular, the process of decision-making in a dynamic external environment.

Business behaviour will be studied from the point of view of a range of stakeholders including customer, manager, creditor, owner/shareholder and employee giving students the opportunity to become aware of the economic, environmental, ethical, governmental, legal, social and technological issues associated with business activity.

Students will develop skills in:

decision-making and problem solving in the light of evaluation
the quantification and management of information, where appropriate
effective communication

Paper 1: Focuses on application of knowledge and understanding and comprises short-answer questions and an essay.
Paper 2: Requires students to also analyse and evaluate in data response style questions.

Places may be limited for students and the HOD will make final selection of students. It is possible for a student to study this course without prior knowledge; HOD approval must be given.

NOTE Students will be allowed to select a maximum of two of the three Commerce subjects offered ie two of Accounting, Economics or Business Studies.

Advanced Level (A2) Level Year 13

Students who have gained a C pass or higher at AS Business Studies may study A2 Business Studies.

The course continues the seven broad integrated topics of study from AS Business Studies:

Business and the Environment - including the nature and need for businesses, economic structures of business, business strategy, corporate culture and strategy
People in Organisations - including the need for and nature of organisational structure, motivation, leadership and management
Marketing - including the role of marketing, product portfolio planning, the Marketing Mix
Operations Management - including the nature and organization of production, operational efficiency, quality control and assurance
Business Finance - including the need for business finance, sources of finance, money and capital market institutions
Business Accounting - including the need for business accounts, what the published accounts contain, analysis of published accounts, investment appraisal, managing cash flows
Information for Decision-making - including sources and reliability of information, collection of information, presentation of information, data analysis and evaluation

There is no repetition of the AS level course, instead students extend the concepts previously learned and investigate new issues in each of these topics.

As with the AS Business Studies course, A level Business Studies aims to encourage students to understand and appreciate the nature and scope of business, its role in society and to develop critical understanding of organisation, the markets they serve and the process of adding value. This will involve consideration of the internal working and management of organisations and, in particular, the process of decision-making in a dynamic external environment.

Business behaviour will be studied from the point of view of a range of stakeholders including customer, manager, creditor, owner/shareholder and employee giving students the opportunity to become aware of the economic, environmental, ethical, governmental, legal, social and technological issues associated with business activity.

Students will develop skills in:

decision-making and problem solving in the light of evaluation
the quantification and management of information, where appropriate
effective communication

The emphasis will be on the application of concepts and issues to the local context where appropriate.

Students wishing to undertake the course should possess a high degree of competence in English and Mathematics and have very strong problem solving skills. This is due to the significant amount of "essay-style" questions and given case studies.

This course provides an excellent opportunity for students who wish to extend their understanding of business concepts and practices particularly for those wishing to pursue Business/Commence and Law degrees in the future.

External Assessment is covered in 1 x 3 hour examination paper. There are 5 questions and an essay, which all relate to a case study.

Places will be limited for Year 13 students and the HOD will make final selection of students.

NOTE Students will be allowed to select a maximum of two of the three Commerce subjects offered ie two of Accounting, Economics or Business Studies.

Commerce trip to Wellington - this is a voluntary overnight trip for Accounting, Economics and Business Studies Year 13 students. Places such as Reserve Bank, Treasury, Parliament, Ministry of Foreign Affairs and Trade, and Foreign Exchange Trading floor will be visited. The trip will give students an insight into the business would & how both Accounting & Economics are on integral part by commerce.