|An introduction to business. Students explore how the subject is relevant to them in everyday life by looking at key concepts such as Enterprise and Entrepreneurship. They examine famous entrepreneurs both past and present, looking at the risks they took in order to achieve rewards.
||Spotting a business opportunity. Student learn how to identify a business opportunity by spotting a gap in the market. They will explore the competitive environment, conducting market research and learn to use important tools such as a market map.
||Putting a business idea into practice. Students explore financial aspects of the course and understand how to perform key calculations including fixed costs, variable costs, revenue and profit. They learn how to calculate break-even point using a formula and how to represent it on a graph.
||Putting a business idea into practice. Students develop an understanding of the importance of cash flow to new start-up businesses. Students will be able to complete a cash flow forecast for a business scenario and make suggestions for improving cash flow. They move on to learn about the various sources of finance available to small businesses.
||Making the business effective. Students look at concepts needed to realise their new businesses and keep them running effectively. They learn about writing and reviewing business plans, the four elements of the marketing mix (price, product, place and promotion) and the importance of choosing an appropriate location.
||External influences on business. Students become aware of factors outside the control of the business such as legislation, technology and the economy (exchange rates and interest rates). They will be able to suggest strategies for the business to react to or to predict changes in the business environment.