Download - 24593569 Business Studies SoW 2010 1 IGCSE Y78

IGCSE Business Studies 0450 - SoW Working Committee

Head Coordinator - Hjh Harita binti Hj Hassan Sekolah Menengah Sayyidina Abu Bakar, Lambak

Assistant Coordinator - Hj Mohd Yura Faizal bin Hj Mohd Yusof Sekolah Menengah PJN Abu Bakar, Belait

Member - Dk Jamilah binti Pg Kamis Sekolah Menengah Sayyidina Husain, Jerudong

The aim of this Scheme of Work is to set out a progression through the Syllabus content, and to give ideas for activities, together with references to relevant Internet sites.

The Scheme is intended to give ideas to teachers from which they can build. It is certainly not intended that teachers undertake all of the activities shown in the various units depending on the time available – but rather to offer choices which could depend on the academic teaching schedule.

Teaching durations for topics have not been given as there is a great deal of variability in time available especially teaching the Applied Programme’s students. However, the Scheme does provide a progressive teaching sequence throughout the academic schedule.

IGCSE BUSINESS STUDIES 0450

Units TopicsUnits 1 Business ActivityUnits 2 MarketingUnits 3 ProductionUnits 4 People and WorkUnits 5 Business OrganizationUnits 6 Business Finance and AccountingUnits 7 External Influences

IGCSE BUSINESS STUDIES 0450 – 3 Years (Applied Programme)Year 9 Year 10 Year 11

Unit 1 1.1 Unit 2 2.1 Unit 3 3.71.2 2.2 3.81.3 2.31.4 2.4 Unit 5 5.41.5 2.51.6 2.6 Unit 6 6.51.7 2.7 6.6

2.8 6.7Unit 5 5.1 2.9 6.8

5.2 2.10 6.95.3 2.11 6.10

2.12 6.116.12

Unit 6 6.1 Unit 3 3.16.2 3.2 Unit 7 7.16.3 3.3 7.26.4 3.4 7.3

3.5 7.43.6 7.5

7.6Unit 4 4.1 7.7

4.2 7.84.3 7.94.4 7.104.5 7.114.6 7.124.7 7.134.8 7.14

7.15Unit 5 5.5 7.16

5.6 7.175.75.85.9

IGCSE BUSINESS STUDIES 0450 – 2 Years (General Programme)Year 9 Year 10

Unit 1 1.1 Unit 3 3.1 Unit 5 5.5 Unit 7 7.11.2 3.2 5.6 7.21.3 3.3 5.7 7.31.4 3.4 5.8 7.41.5 3.5 5.9 7.51.6 3.6 7.61.7 Unit 3 3.7 7.7

Unit 4 4.1 3.8 7.8Unit 5 5.1 4.2 7.9

5.2 4.3 Unit 5 5.4 7.105.3 4.4 7.11

4.5 Unit 6 6.5 7.124.6 6.6 7.13

Unit 6 6.1 4.7 6.7 7.146.2 4.8 6.8 7.156.3 6.9 7.166.4 6.10 7.17

6.11Unit 2 2.1 6.12

2.22.32.42.52.62.72.82.9

2.102.112.12

Course Units 1. Business Activity

1.1 Introduction

1.2 Business Activity as a means of adding value and helping to satisfy customers needs.

1.3 Classification of local and national firms into primary, secondary and tertiary sectors.

1.4 Business objectives and their importance .

1.5 Stakeholders and their differing objectives.

1.6 Aims of private and public sector organisations.

1.7 Business growth and measurement of size .

2. Business Organisations

2.1 Relationship between business objectives, growth and organisation

2.2 Types of business organisation

2.3 Limited and unlimited liability

2.4 Growth of multinational organisations

2.5 Control and responsibility

2.6 Internal organisation

2.7 Communication

2.8 Methods of communication

3. Marketing

3.1 The role of marketing

3.2 Market research

3.3 Presentation and use of results

3.4 Market segmentation

3.5 Mass and niche marketing

3.6 Marketing mix

3.7 Product

3.8 Price

3.9 Distribution

3.10 Promotion

3.11 Marketing strategy

3.12 Marketing budge

4. Production

4.1 Using resources to produce goods and services 4.2 Methods of production

4.3 Scale of production

4.4 Quality control

4.5 Location decisions

4.6 Efficiency

4.7 Costs and their classification

4.8 Break-even analysis

5. People and Work

5.1 Role of work in satisfying human needs

5.2 Methods of financial reward

5.3 Non-financial rewards

5.4 Management styles and motivation methods

5.5 Stages of recruitment and selection

5.6 Training methods

5.7 Dismissal and redundancy

5.8 Workforce and the working environment.

6. Business Finance and Accounting

6.1 Use of funds

6.2 Short and long term financial needs

6.3 Sources of internal and external funds

6.4 Factors affecting the methods of finance chosen

6.5 Cash and cashflow forecasts

6.6 Profit

6.7 Users of accounts

6.8 Purpose and main elements of profit and loss account

6.9 Purpose and main elements of balance sheet

6.10 Simple interpretation of financial statements using ratios

6.11 Working capital

6.12 Financial budgets

7. External Influences

7.1 Mixed and market economies

7.2 Key features of own national economy

7.3 Business reactions to market change

7.4 Competition and business

7.5 Business cycle

7.6 Government influence over decision making by using economic policy measures

7.7 Impact of business decisions on people, the economy and the environment

7.8 Government economic policy measures

7.9 Impact of technology on business

7.10 Ethical issues

7.11 Workforce and the working environment 7.12 The consumer

7.13 International trade

7.14 Problems of entering new markets abroad

7.15 Exchange rates

7.16 Concept of exchange rates and how changes in them affect businesses

7.17 External costs and benefits

Unit 1 – Business Activity

Glossary : Marketing, Human Resources Management, Production, Finance, External Influences, Final Customer, Intermediate Customer, Customer Value Added, Public Sector, Private Sector, Privatization, Profit, De-industrialization, Primary, Secondary, Tertiary Sectors, Turnover, Profit, Capital Employed, Strategic decisions, Tactical decisions, Stakeholder

TIME FRAME

OBJECTIVES TOPIC LESSON CONTENTSSUGGESTED TEACHING LEARNING ACTIVITIES

SUGGESTEDON-LINE

3 WEEKS

Students should be able to:

Explain the difference between wants and needs.

Understand what is meant by scarce

1.1 Introduction. Get students to make a presentation in groups to address the question, “ What makes a successful business?” Draw out the key features of the course (Marketing, HRM, Finance, Production)

www.acra.gov.sg/ general/directory.html

http://www.acra.gov.sg/general/directory.html



resources. Apply the principle of

opportunity costs.

Explain the importance of specialization in production

Demonstrate the understanding of business activity in adding value and helping to satisfy the needs of customers in changing competitive environment.

Understand the purpose of business activity and the importance of different groups involved in it.

Explain the purpose of business activity in terms of the objectives of non-profit making activity, private enterprise and public enterprise.

1.2 Business activity as a means of adding value and meeting customer need.

Discuss the complete process from source to finished product in making furniture (from forest to customers room) bringing out concepts of customer, value added, customer needs; also relate this to Primary, Secondary and Tertiary Sectors.

Discover extent of public sector in students own country (this could also be covered under 1.5 business objectives).

Visit the website of the government. See resource list for some ideas.

TIME FRAME


SUGGESTEDON-LINE

3WEEKS


Describe and classify business activity in term of Primary, Secondary and Tertiary Sectors.

Demonstrate the understanding of business activity in adding value and helping to satisfy the needs of customers in changing competitive environment.

1.3 Classification of local and national firms into Primary, Secondary and Tertiary Sectors.

Class investigation to identify nature and importance of each sector in own country, Brunei Darussalam. May be useful to do comparison with another country. Graph of different sectors in selected countries and compare them.

Also explain how these sectors change as a country develops.

Visit Government websites and explore National Government Statistics.

www.acra.gov.sg/general/directory.html

www.economy.gov.eg (Egypt) www.ipa.gov.pg (Papua New Guinea) www.gov.bw (Botswana) http://www.bccthai.com/ (Thailand) www.mop.gov.kw (Kuwait), www.saudinf.com (Saudi Arabia) www.investinspain.org (Spain) www.statistics.gov.uk (UK) www.pak.gov.pk , (Pakistan) www.commonwealth.org.uk

Show knowledge of the methods and problems of measuring the size of business units.

1.4 Business growth and measurement of size.

Students classify a variety of businesses by turnover, profit, labour, capital employed, outlets. Problems brought out through discussion of results.

Provide students with these statistics on various businesses. Use local sources or www.bized.co.ukLook at change in size of www.vodaphone.co.uk

Describe and explain the private and public sectors as a way of organising business activity.

Include - Why businesses grow and expand, problems

1.5 Businessobjectives and their importance.

Teacher lead discussionand case study (Amway).

Compare with a public sector organisation (e.g. a hospital).

www.thetimes100.co.uk and follow links to Amway via companies. The Coca-Cola case study would also be useful to look at.



connected with this and how this might be overcome.

Identify stakeholders in a business by identifying them in a case study or an annual report.

1.6 Stakeholdersand their differing objectives

Choose a large business in the country and access its accounts on the net, or find a multi-national that operates in the country.

www.thetimes100.co.uk

Demonstrate an awareness of the aims and objectives of enterprises in both private and public sectors.

1.7 Aims of private and public sector organisations.

Compare the objectives of a hospital with those of McDonalds.

www.carol.co.uk

Unit 2 – Marketing

Glossory : Marketing, Market orientated, Product oriented, Consumer panels Desk/field research Primary/Secondary ,Questionnaire Quota/random sample, Bar chart, Pictogram, Pie chart, Mass market, Niche market, Segmentation, Target market, Target audience, Price, Product, Place, Promotion, Packaging, Competitive, pricing, Cost plus pricing, Price skimming ,Promotional pricing, Elasticity, Retailer, Wholesaler agent, AIDA, Brand image, Brand loyalty, Brand name, Informative advertising, Persuasive advertising, Point of sale Strategy.

TIME FRAME


SUGGESTEDON-LINE

http://www.carol.co.uk/

At the end of the lesson, students should be able to:-

Define the different between market and marketing.

Explain the main purpose of marketing.

2.1 Marketing Identify somemarketing strategies of

businesses using newspapers, magazines, students’ experiences and so on.

Use this to identify consumer markets, industrial markets.

Discuss product orientation and market orientation.

Identify different marketing objectives using practical examples.

Magazines, newspapers e.g. http://metimes.com (Egypt) www.nationaudio.com/news/dailynation (Kenya) www.lexpress-net.com (Mauritius - French) www.arabnews.com (Saudi Arabia) www.abc.es (Spain – Spanish) www.bangkokpost.com (Thailand) www.gulfnews.com (UAE)

Role of Marketing

At the end of the lesson, students should be able to;-

Explain the importance of Market Research.

Explain how market research being carried out. Appreciate the need for market research.

Understand how a business carries out market research; limitations of market research.

Explain the factors influence the accuracy of market research

2.2 Market Reserach

Suggesting students doing market research for their own invented product or business.

Choose an appropriate topic e.g. identify a gap in the market such as a local vacant shop or what to sell in school,get students to carry out a market research exercise including some primary research in the form of carrying out a questionnaire. Also carry out secondary research on the topic chosen of suitable internet sites for the research. This could very usefully be tied in with the advertising section below.

If, for example, soft drinks were chosen students could go to www.coca-cola.com or www.pepsico.com for their secondary sources. See also resource list.


2.3 Presentation and use of

Presentation by students on their market research.

Identify different ways of presenting data from market research.

Use appropriate method and suitable way of presenting information from market research

Present, analyse and interpret simple market research information.

Understand the factors that influence the accuracy of market research

result of market research.

Students could present their results in an effective manner and appraise each others work – especially the accuracy of the information gathered.


Explain the importance of market segmentation.

Explain how market segmentation is carried out.

Understand how and why market segmentation is carried out

2.4 Market Segmentation (purpose and methods).

Suggesting students to do market segment in their own class or school.

Give the students a product for them to identify the different segments of the market.

www.thetimes100.co.uk and follow links to Australian Tourist Commission.


Explain the different between Mass market and Niche market.

2.5 Mass market and Niche Market.

Compare a mass market product (e.g. coca-cola) with a niche market product (e.g. diet coke).

Segmentation is usefully covered in the Australia Tourist commission case in the Times 100.


Define what is meant by market mix.

Identify and explain the elements of market mix.

Types of products. Product

development. Importance of

product brand.

2.6 Market Mix. IGCSE Business Studies CD-Rom www.thetimes100.c o.uk (Nestle Case study)


Explain the product life cycle

Understand why businesses brand products.

Explain the importance of the packaging

Demonstrate and understand the importance of product life cycle and extension strategies.

2.7 Product (Design, Brand, Packaging,

Life cycle)

Compare the brands for a particular product. A product such as mobile phones could be

taken as an example and study of how products change in relation to recent developments.

Design the packaging for a new product e.g. food product.

www.thetimes100.co.uk Websites of telephone service providers in own country. Some interesting material on product development on www.dyson.com, www.icnet.uk , www.bpamoco.com , www.celltech.co.uk

http://www.thetimes100.co.uk/



Explain how price of goods is determine in the market.

Explain factors affecting the price of goods in the market using demand and supply curve.

Explain the reasons of Pricing method and strategies.

2.8 Price (Price elasticity of demand, Pricing methods and Strategies).

Compare prices of a consumer good between different brands and different outlets. Develop the concept of the relationship between price and demand.

Elasticity needs to be teacher led discussion.

If there are few outlets locally, the internet could be used. www.which.net is the web site of the UK Consumer Association and could be used to compare pricing of specific products.


Define what is meant by channel of distribution.

Identify various types of distribution channels.

Identify & explain the importance of each distribution channels.

Identify and explain factors affecting each of distribution channels.

2.9 Place-Distribution Channels

Students can compare a retail outlet for a product (e.g. some item of clothing) with buying using e-commerce.

Discuss the advantages of a wholesaler. Give students a selection of products

and decide which methods of transport to use.

E.g. by using www.yahoo.com and follow shopping links.


Explain the importance of promotion.

2.10 Promotion (Advertising, Sales and Point of Sales).

Students develop their own advertising strategy for a product of their choice, with a realistic budget. They can research local advertising rates in various media.

Consideration of promotion that could be used for a variety of different products.

Useful material on www.tka.co.uk/magic/ An assignment

sheet specifying the task.


Define what is meant by marketing strategy.

Identify and explain types of marketing strategies.

Explain how marketing strategies can influence consumers purchasing behavior.

Explain how marketing strategies can affect the products.

Select and justify marketing methods use for certain business conditions and product.

2.11 Marketing Strategy The 4 P’s link

together.

IGCSE CD-ROM worksheets. Practical exercise in developing a marketing plan for a product.

Include consideration of a strategy throughout the life of a product/service.

IGCSE Business Studies CD-ROM www.thetimes100.c

o.uk and follow links to McDonalds case study.

At the end of the lesson, students should be able to;- Explain the importance

and awareness of marketing budget for each business.

Types of marketing

Marketing Budget Discussion of the marketing budget required in various situations e.g. a local shop, a national supermarket chain, an international business. This could be covered in section 3.10.

budget.

Unit 3 – Production (Operation Management)

Glossory : Factors of production, Product life cycle, Job production, Batch production, Flow production, Mass production, Economies of scale, Diseconomies of scale, Lean production, Efficiency Productivity, Automation, Contribution, Direct costs, Fixed costs, Indirect costs, Marginal costs, Overhead costs, Total costs, Unit costs, Variable costs, Break-even output, Margin of safety.

TIME FRAME

OBJECTIVES TOPIC LESSON CONTENTS SUGGESTED TEACHING LEARNING ACTIVITIES

SUGGESTEDON-LINE


Define what is meant by productions.

Identify and explain methods of production.

3.1 Using Resources to produce goods and services.

Job batch and flow can be demonstrated in class by getting students to make something using the three methods – perhaps in 3 different groups.

Link in with efficient use of resources

IGCSE CD-ROM class activity on production methods – cake production 3.2 Methods

ofproduction

Understand how resources can be used and managed to help organisations achieve their objectives.

Explain job, batch and flow production methods.

(job, batch, flow). Resources for making an artifact e.g. paper, scissors, pens, glue etc. Design of what to make.

IGCSE Business Studies CD-ROM


Define economies and diseconomies of scales.

Factors that affect economies and diseconomies of scale of a business.

3.3 Scale of production Mainly classroomexplanation with practical exercise to show change in costs with differing levels of production.

Worksheet on GCSE Business StudiesCD-ROM


Define Lean Production.

Methods used in Lean Production.

Lean Productions.

At the end of the lesson students should be able to:- Define what is meant by

quality control. Explain the importance

of quality control practice in every business

3.4 Quality Control This can be discussed when undertaking the production game -4.3

Some useful international quality control information on www.piqc.com.pk (Pakistan)


3.5 Location decisions Explain together with use of textbook to simulate a location decision in your country,

Investigate incentives in Brunei and one other

Identify and explain factors influencing the location of a business.

Identify and explain factors influencing the relocations of a business.

investigating constraining factors and incentives. This can be achieved through visiting appropriate websites.

Multinational Business – location issues class activity on IGCSE CD-ROM. Also worksheet on CD-ROM.

for businesses to come to the country. E.g. www.economy.gov.eg (Egypt) www.ipa.gov.pg (Papua New Guinea) www.gov.bw (Botswana) www.mop.gov.kw (Kuwait), www.saudinf.com (Saudi Arabia) www.investinspain.org (Spain) IGCSE Business Studies CD-ROM

At the end of the lesson, students should be able to:- Understand the concept

of productivity. Awareness of methods

of improving efficiency e.g. automation, new technology.

3.6 An appreciation of how production can be made more efficient.

Link in with job/batch/flow exercise Look at the effects of introducing new

technology into a business – this could be covered when visiting a factory. Emphasize the effects on the business, employees and customers.


Define what is meant by cost.

Identify and explain types of costs in dealing with productions.

State and explain the cost structure of a business.

Classify costs into fixed and

3.7 Cost and Cost Classifications.

Mainly through class work and use of books. Exercise in identifying the costs of some activity such as owning a car.

Classify costs into types.

variable/direct and indirect.

At the end of the lesson, students should be able to:- Define Break-even

chart. Explain and interpret

what does the Break-even analysis chart shows

3.8 Break even analysis and Simple cost based decision making.

Drawing Break-even chart Teacher input, class exercises. Worksheets

on IGCSE CD-ROM

IGCSE Business Studies CD-ROM The break even topic at www.osl-ltd.co.uk may be useful.

Unit 4 – People in business

Glossary: Needs, Job satisfaction, Motivation, Specialization, Bonus, Commission, Fringe benefits, Job enlargement, Job enrichment ,Job rotation, Performance related pay, Productivity agreement, Profit sharing, Salary, Wage, Autocratic, Democratic, Laissez faire, Taylor, Maslow, McGregor, Appraisal, Contract of employment, External recruitment, Internal recruitment, Job analysis, Job description, Job Specification, Induction training, Off the job training, On the job training, Closed shop, Craft union, Employers federation, Employers association, Trade association, General union, No strike agreement, Representative, Shop steward, Single union agreement, Trade association, Trades union, White collar union, Worker participation, Works council.

TIME FRAME

OBJECTIVESTOPIC

LESSON CONTENTSSUGGESTED TEACHING LEARNING ACTIVITIES

SUGGESTEDON-LINE

WEEKS


Understand the concept of human needs such as physiological and social

4.1 Role of work in satisfying human needs

Explain the role of work in satisfying human needs

Use questionnaires of students, parents or teachers and so on.

www.hrmguide.net

http://www.dineshbakshi.com/People-at-Work/




http://www.hrmguide.net/

needs Understand how

work can help satisfy such needs


Identify the different method of financial reward

Understand the significance of different method of financial reward

Show understanding of non financial methods such as fringe benefit

Understand when benefits such as discounts on products, free accommodation, use of company car might be used

4.2 Method of financial reward

Explain the different payment systems such as time rates, piece rates, bonus payments, performance rates and profit sharing

A study of newspapers to discover different payment methods and to promote discussion on differing rates of pay

IGCSE CD-ROM class activity on payment systems.


4.3 Non financial rewards

Show understanding of non financial methods such as fringe benefits

Explain when benefits such as discounts on products, free accommodation, use of company car might be used



Understand what is meant by motivation

Understand how motivation can be influenced

Explain different styles of management

Have an awareness of their appropriateness in different situation

4.4 Management styles and motivation methods

Explain why employee motivation is important to a business Understand how motivation can be influenced

Explain why employee motivation is important to a business Understand how motivation can be influenced

Discuss factors that influence motivation such as job satisfaction, job rotation and job enrichment

Explain and demonstrate different styles of management

IGCSE CD-ROM class activity on leadership styles

Compare the leadership requirements of: an army commander, a teacher, a head of state, a football coach.

Class discussion on roles of management together with case study. May be useful to get a school/ college manager to give a talk.

Exploration of motivational issues using case studies.

Investigation using questionnaires /interviews of what motivates employees.

www.cie.org.uk http://

www.dineshbakshi.com/People-at-Work/


Explain the method of recruiting and selecting employees

Understand the importance of job description and job advertisements

4.5 Stages of recruitment and selection

Use job advertisements from a national newspaper to develop aspects of recruitment.

Discuss the difference between internal and external recruitment and when to use them.

Visit websites of recruitment agencies. Discuss importance of job descriptions, job

specifications and job advertisements. Draw up a job description Draw up a job specification


Students should be able to: 4.6 Training methods Compare the training requirements of http://

Identify and explain different training methods (internal and external)

Awareness of the need to train and develop staff

various employees (e.g. lawyers, doctors, teachers, shop assistant, farm worker etc)

Visit government website to discover about training initiatives.

www.dineshbakshi.com/People-at-Work/


Explain the difference between dismissal and redundancy

Appreciate why the manpower of a business may need to be reduced

4.7 Dismissal and redundancy

Use examples to demonstrate the difference Explain the circumstances when downsizing manpower occurs e.g. automation, closure

of a factory Use newspapers to explore current local

redundancy/dismissal issues.


Students should be able to : Describe the work of

trade unions. Show an awareness of

how trade unions can influence business behaviour.

Understand the main features of employment contracts and employment legislation.

Appreciate why conflict arises and how it can be avoided.

4.8 Workforce andthe working environment.

IGSE CD-ROMTrade union role play. Teacher guidance with fact finding from

websites. Follow a dispute in news media. IGCSE Business Studies CD-ROM.

A worksheet with facts to find from a suitable website e.g. www.tuc.org.uk ,www.tgwu.org.uk , www.ilo.org , or local equivalent.

Unit 5 – Business Structure, organization and control.

Glossary: Sole trader ,Partnership agreement, Unincorporated business, Limited company, Prospectus Franchise, Joint venture, Limited liability, Unlimited Liability, Globalisation, Multinational, Centralised, Chain of command, Decentralised, Organisational structures, Span of control, Delegation, Levels of hierarchy, Communication nets, Internal communication, Medium of communication, Message, One way communication, Receiver ,Sender, Transmitter, Two way communication.

TIME FRAME

OBJECTIVESTOPIC

LESSON CONTENTS

SUGGESTED TEACHING LEARNING ACTIVITIES

SUGGESTEDON-LINE

WEEKS


Understand the relationship between objectives, growth nd

5.1 Relationship between objectives, growth and business organization.

Assignment to identify various types of business in the local area, and to comment on their suitability.

May be suitable for a young enterprise

www.yellowpages.co. uk

www.youngenterprise .org.uk

http://www.youngenterprise.org.uk/

http://www.youngenterprise.org.uk/

http://www.yellowpages.co.uk/

http://www.yellowpages.co.uk/

business organization

Discuss the appropriateness of a given form of organisation in enabling a business to achieve its objectives.

Identify and explain the main features of different forms of business organisation.

activity in which students set up their own limited company within the school. This activity could then be used to tie in many other aspects of the specification.

Summarize table of the advantages and disadvantages of each business type.

May be suitable for a young enterprise activity in which students set up their own limited company within the school/ college. This activity could then be used to tie in many other aspects of the specification.

www.jaintl.org

5.2 Types of business organization (sole trader, partnerships, Limited Companies, Franchise, Joint Venture)

5.3 Limited and Unlimited liability.


Identify reasons for the importance and growth of multinational business.

5.4 Growth of multinational companies

Web based research to find turnover, employees, profits, Total assets, extent of operations of Mac Donald, Coca Cola, Marks & Spencer, Airlines in the country.

Also examine local businesses.

IGCSE Business Studies CD ROM

www.carol.co.uk

www.thetimes100.co. uk


Draw, interpret and explain simple organizational charts.

5.5 Control and responsibility Practical exercises of drawing

organizational structures including own school/ college, together with case study.

CD-ROM worksheet on organisational structure.



http://www.carol.co.uk/

http://www.jaintl.org/

Comment on the central features of an organizational structure.

Discuss the role of management.

5.6 Internal organisation (organisation structure hierarchy, span of control)

Can be illustrated by discussing organization chart for own school / college.


Explain the different means of communication.

Understand the need for effective Communication .

Be aware of the barriers to effective communication.

Understand how the barriers to communication can be overcome.

5.7 Internal and external communication

IGCSE CD-ROM Communication class activity.

Practical communication exercises e.g. getting students to draw an object described only in the spoken word by another student.

IGCSE Business Studies CD-ROM.

Case study Nan Fong Airlines at www.osl-ltd.co.uk follow the link to free resources, case studies, also see questions at same site.


Understand the methods of internal and external communication.

Comment on the appropriateness of different means of communication.

5.8 Internal communication (effective communication and its attainment)

Investigation into communication methods used in a business (school could be used as an example of a business).

Students could analyse what problems exist and how communication could be improved

Unit 6 – Financial information and decisions making

Glossary: Capital expenditure, Internal Growth, Internal sources, Prospectus, Revenue expenditure, Shares, Start up capital, Loan, Overdraft, Hire purchase, Lease, Retained profits, Interest, Dividends, Gearing, Risk, Short term, Long term, Cash flow Forecast, Accounts, Accountant, Appropriation account, Assets, Balance Sheet, Cost of goods sold, Current assets, Current liabilities, Debtors, Final accounts, Fixed assets, Depreciation, Gross profit, Liabilities, Long term liabilities, Liquidity, Net profit, Profit & Loss account, Revenue, Sales revenue, Trading account, Capital employed, Working capital, Liquidity, Net profit margin, Gross profit Margin, Current ratio, Acid test ratio, ROCE Working capital.

TIME FRAME


SUGGESTEDON-LINE


Identify the main needs for funds.

Appreciate the difference between

6.1 Use of funds Practical exercises exploring sources of finance together with explanation

www.londonstockexchange.com

http://www.londonstockexchange.com/

http://www.londonstockexchange.com/

short and long term finance.

Identify internal and external sources of funds available to business.

Understand the impact on business of different sources of funds.

Investigate accounts of two businesses to explore sources used particularly by a low and high geared business also www.londonstockexchange.com and major banks e.g. www.natwest.co.uk , www.barclays.co.uk Also find incentives from Government in your country. See resource list.

www.natwest.co.uk www.barclays.co.uk

6.2 Short and long term financial needs

6.3 Sources of internal and external funds (short and long term).


Explain the basis upon which the choice of sources of funds is made.

6.4 Factorsaffecting the methods of finance chosen.

Class activitiesmainly from book. Give students different case studies of businesses that are seeking finance and get them to decide which would be the most suitable sources of finance to use and why.

You could invite a Bank Manager into class to talk about the forms of finance available through the Bank

www.ft.com , www.the-times.co.uk , www.economist.co.uk

Students should be able to:-

Explain the importance of cash for a business.

Defining Cash flow. Prepare and

interpret cash flow statement.

6.5 Cash and Cash flow forecast.

Preparing their own business cash flow.

IGCSE CD-ROM Cash Flow game and worksheets.

Mainly through use of book exercises and spreadsheets.

www.hrmguide.net



Defining Profit. Explain the concept of

profit Explain the function of profit.

6.6 Profit (what it is and why it matters).

Explanation through a practical, simple cash flow that clearly shows cash as different from profit.

This could be brought out in the cash flow game – 6.5.

www.digitalbrain.com




http://www.hrmguide.net/

Distinguish between cash and profit


Explain the importance of analyzing business financial statement.

6.7 Users of accounts


Identify items recorded in the Profit and loss account.

Calculate Profit. Explain the

importance of profit. Explain the

differences between cash and profit

6.8 Purpose and main elements of Profit/Loss account.

Preparing Profit and loss accounts.

Mainly tackledthrough classroom explanation, handout to fill in the blank accounts items, Case studies and exercises from book.

Useful to compare accounts of two completely different businesses e.g. a retailer and an oil company.

IGCSE CD-ROM worksheets.


Identify items to be recorded in Balance sheet.

Explain the importance of Balance sheet.

6.9 . Purpose and main element of Balance sheet.

Preparing Balance sheets. Class explanation together with exercises

and case studies from book or worksheets from IGCSE CD-ROM.


Identify ratio used to measure business performance e.g. margin, mark up etc.

6.10 Interpretation of financial statement using ratio.

Class explanation and case study

Calculating working capital, acid ratio and current ratio.

Alternative ways that businesses can judge their success (e.g. ROCE, market share).

Interpret the performance of a business by using simple accounting ratios (return on capital employed - ROCE, net profit margin, gross profit margin, current ratio and

Student should be able to:

Identify and calculate working capital

6.11 Working capital This could be discussed in 6.8, 6.9


Explain the importance of financial budgets.

6.12 Financial budgets This could be discussed in 6.1,6.2 6.3

Unit 7 – External Influences

Glossary: Market economy,Mixed economy , Planned economy, Business cycle, Boom, Recession, Development area, Exchange rates, Interest rates, Inflation, Monopolies, Planning permission, Unemployment, Cost-benefit, External benefits, External costs, Social costs, Opportunity costs, Private benefits, Private costs, Social benefits, Balance of payments ,Exchange rate, Appreciation, Exchange rate, depreciation, Exchange rates, Imports Exports.

TIME FRAME


SUGGESTEDON-LINE


Demonstrate an awareness of the different types of economies.

7.1 Mixed and market economies

Descriptive teacherlead work. This could have been covered in the Unit 1.

Fact finding, internet based.

www.tutor2u.net Visit national government sites e.g http://ncb.intnet.mu/govt/index.htm , (Mauritius), http://www.gksoft.com/govt/en/pg.html (Papua New Guinea), www.fedfin.gov.ae (United Arab

Emirates), www.mop.gov.kw (Kuwait).

7.2 Key features of own national economy


Show understanding of market changes and how these might be responded to by business.

7.3 Business reaction to market changes.

Best handled through a study of developments in students’ own country.

This could have been considered in Unit 3 Marketing.

A suitable Assignment to get students to study the impact of changes in markets, competition and economic structure of their own country. National Government web sites could be used.

7.4 Competition and business


The main phases of the cycle.

Impact of boom/recession on business.

Show understanding of the changing importance of different types of business with in their own national economy, in terms of employment and contribution to national wealth.

7.5 Business cycle


State the role of the government in influencing decisions within local, national

7.6 Government influence over decision making by using economic policy measures.

Exercise to find out extent to which government intervenes in own country, perhaps with a comparison with other countries.

This can be extended to cover location decisions (see 3.5), and can also cover 7.7 – Impact of business

www.jusbiz.org International Debt role play (go to link for resources). Visit national government sites e.g http://ncb.intnet.mu/

and international contexts and explain how businesses may react .

govt/index.htm , (Mauritius), http://www.gksoft.com/govt/en/pg.html (Papua New Guinea), www.fedfin.gov.ae (United Arab Emirates), www.mop.gov.kw (Kuwait). National Government websites including

www.ipa.gov.pg (Papua New Guinea),

www.investinspain.orgMarketing issues on www.asa.org.uk or national equivalent, www.admedia.org also there are international marketing issues on www.tka.co.uk/magic


Explain why intervention in business activity is required so that social and economic objectives of the state can be better achieved

Show an awareness of how business decisions have an impact on others (society, environment

7.7 Impact of business decisions on people, the economy and the environment.

Teacher discussion and case studies to illustrate the impact of business decisions in different business situations.

Give examples of intervention both to support and control the impact of business activity on people, the economy and the environment

Use the examples to show how outcomes differ[following intervention] and are more in line with the objectives of the state e.g. to create employment, minimise resource depletion

Use examples to show how business decisions create externalities

http:// www.dineshbakshi.com/External-Environment/

http://www.dineshbakshi.com/External-Environment/



and people). Show an awareness

of the main methods of government intervention

Show awareness of the main methods of intervention such as legislation

Show awareness of the influence of other agencies such as trade unions and pressure groups


Demonstrate an awareness of the impact that tax and interest rate changes might have on business decisions

7.8 Government economic policy measures.

Economic Policy class activity on IGCSE CR-ROM

IGCSE Business Studies CD-ROM


Show understanding of the main factors influencing a firm’s location and relocation decisions

Show awareness of how government can influence such factors

Location decision Identify and explain factors relevant to the location decisions of a manufacturing business

Identify and explain factors relevant to the location of a service based business

Show awareness of factors that a business considers in determining which country to locate itself

Recommend and justify an appropriate location for a business in a given situation

Explanation together with use of textbook to simulate a location decision in your country, investigating constraining factors and incentives. This can be achieved through visiting appropriate websites.

http://www.dineshbakshi.com/Production/


Explain the impact that technological change has on a business.

Implications of the Internet and e-commerce

7.9 Impact of technology on business.

Assignmenttoexplore the impact of technology on business.

Case studies of technological change in different businesses.

www.ecomfocus.com


Show an awareness of ethical considerations in business activity.

7.10 Ethical issues Business Ethics worksheet on IGCSE CD-ROM. Or Web based exercise to find some organisations that influence business behaviour.

May be worth developing into ethical questions (e.g. see McDonalds, Co-op bank)

IGCSE Business Studies CD-ROM www.greenpeace.org.uk www.cooperativebank.co.uk www.novo.dk www.mcdonalds.com and follow links to ethical issues.

Students should be able to: Demonstrate an

understanding of health and safety requirements

Describe the work of trade unions

Show an awareness of how the government can influence business behavior

Show an awareness of ethical considerations in business activity.

Understand the main features of employment contracts and employment legislation

7.11 Workforce and the working environment (health and safety, employment protection)

Describe the work of trade unions

Understand the concept of a trade union

Show the benefits that union membership can provide for employees

Use examples to show how business behaviour might be modified in terms of levels of pay and treatment of employees

Show the possible conflict between the profit motive and ethical considerations such as exploitation of employees [e.g. using child labour]

Use examples to show how businesses might have to change their behaviour to conform to legislation regarding conditions at work [e.g. protection from dangerous machinery, safety equipment and clothing, hygienic conditions and hours of work]

Describe the main features of an employment contract

Use examples to demonstrate such protection in terms o racial and gender discrimination



Understand how and why consumer interest are protected

7.12 The consumer Demonstrate an understanding of the ways in which consumer protection benefits consumers e.g. protection against dangerous products and substances, misleading selling

Use examples to illustrate the need for such protection

Use local websites to explore local H & S issues.



Show an appreciation of how international trade influences an economy and its business sector by creating opportunities for growth, increased competition and consumer choice .

7.13 International trade


Demonstrate an understanding of the problems of a business when entering a new market abroad.

7.14 Problems of entering new markets abroad

Suitable for investigating opportunities and problems in own economy. Could have been covered in Marketing – Unit 3.


Understand how importing/exporting decisions might be affected by changes in exchange rates.

Appreciate the implications of tariff barriers, quotas and exchange rate changes for businesses that trade internationally .

7.15 Exchange rates Explain the concept of exchange rate

Explain what is meant by an appreciation and depreciation of a currency

Show awareness of the importance of exchange rate changes to importing and exporting businesses

Activity using Exchange rates worksheets on IGCSE CD-ROM

www.wto.org www.worldbank.org www.tutor2u.net www.bized.ac.uk http://

www.dineshbakshi.com/External-Environment/

www.wto.org www.worldbank.org information on the

single European currency can be found at UK business education sites

7.16 Changes in them affect business


Appreciate the concepts of social costs and benefits

Understand the difference between a social cost and

social benefit and a financial cost and a financial benefit

Show an understanding of how business activity can create them

Apply such concept to a given business decision

7.17 External cost and benefits

Explain the difference between a social cost and social benefit and a financial cost and a financial benefit

Use examples to show how business decisions create social costs and benefits

Social/environmental costs and benefits class activity on IGCSE CD-ROM or the Tourism Game

www.jusbiz.org http://

www.dineshbakshi.com/External-Environment/

http://www.jusbiz.org/

http://www.worldbank.org/

http://www.wto.org/




http://www.bized.ac.uk/

http://www.tutor2u.net/

http://www.worldbank.org/

http://www.wto.org/

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