VCERT Business Studies aims to provide the student with a sound understanding of the way business works in the 21st century. The course looks at all types of business, from small home-run businesses to large multinational corporations and how they operate.
Introduction to Business and Enterprise. This unit covers the basics of business. Students will learn about the major forms of business ownership – Sole Traders, Partnerships, Private Limited Companies, Public Limited Companies and Social Enterprise. What are business aims and objectives, what is the difference between limited and unlimited liability. Research different businesses in the Yeovil area and find out what the different businesses do, who they employ and the different customers each business has. Identify the characteristics of an entrepreneur, know the risks and rewards of opening a business. Identify three business or enterprise projects.
Finance for Business and Enterprise. Here learners will look into different sources of funding a business can use; loan, grant, trade credit etc. Compare and contrast funding for different businesses, fixed and variable costs, cash flow, budget forecast, break-even point, uses and limitations of the break-even analysis.
Finance for Business and Enterprise. Changes in sales – how does this affect cash flow, profit and loss, income and expenditure, the break-even point? They will also look at the UK tax system – National Insurance, and VAT. Students will be able to describe the importance of keeping records up to date.
Marketing for Business and Enterprise. This unit covers all aspects of marketing. It looks at target markets, primary and secondary research, the marketing mix – the four P’s, Price, Product, Promotion and Place, Pricing strategies – Cost Plus Pricing, Competitive Pricing, Differential Pricing, Psychological Pricing, Skimming.
Marketing for Business and Enterprise. The product life cycle, extending the product life cycle, pricing and the product life cycle, public relations, the impact of social media and the Internet on promotion. Exam practice.
Plan, Develop and Participate in a Business or Enterprise Project. In this unit students will identify and research a project to undertake – for example, run a fund- raising business for charity. They will come up with Aims and Objectives and plan to run the project. Students will have to communicate and work with other team members to make the project work and then present an evaluation as a team.