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Wright Robinson College

Business Enterprise

INTRODUCTION

We are currently delivering the latest BTEC Tech Award in Enterprise, where the BTEC philosophy of ‘learning through doing’ remains at the heart of these qualifications. Learners are given the opportunity to gain a broad understanding of the business sector as well as the knowledge and skills that underpin it. This allows our learners to gain a practical introduction to life and work as an entrepreneur empowering them to thrive in an ever changing business environment.

Business Enterprise is a key government focus and is set to form an important part of the UK’s global economic status. Enterprise skills provide learners with a fantastic progression pathway into a number of roles in an organisation and are transferable into all businesses.

Curriculum Map

ks4 journey business.pdf

 

 What we study

Learners will:

  • Delve deeper into how various businesses work.
  • Appreciate the importance of business planning and understanding the market.
  • Analyse and evaluate the skills they develop.

At the start of the course learners will explore the terms used in business and research how various enterprise sectors work; how they operate and the factors that can influence their success. They will also explore how businesses plan for success and understand the market, customer needs and competitor behaviour. Learners will then have the opportunity to explore what it means to plan, pitch and review a business enterprise idea of their own, develop key skills and discover potential careers. BTEC Tech Award qualifications are practical, work-related courses that allows learners to complete projects and assignments based on realistic workplace situations, activities and demands. The work that learners complete in lessons, as homework, written assignments and their performance in certain situations will be continuously assessed throughout the course. Learners opting for this course will have the opportunity to gain the equivalent of one GCSE.

 

Course structure

To gain a Tech Award in Enterprise, learners study the following 3 Components:

Component 1: Exploring Enterprises (30% coursework)

Component 2: Planning for and Pitching an Enterprise Activity (30% coursework)

Component 3: Promotion and Finance for Enterprise (40% external exam)

NOTE: Components 1 and 2 are assessed by means of a coursework portfolio with Component 3 completed as a synopsis activity, externally assessed by Edexcel.

 

What can I do at the end of the course?

The BTEC Tech Award in Enterprise is valued by employers and can be a route to employment or to a higher level Business Studies programme. If learners decide to go straight into employment, they might obtain a trainee or apprenticeship position. These positions may be available in finance and general administration, sales and marketing, retailing, warehousing and distribution, insurance, general management and personnel administration. If learners use their BTEC Tech Award in Enterprise to progress on to a BTEC National Extended Certificate in Business, possibly followed by a degree, a range of professions and occupations could be open to them. Those who gain higher and professional qualifications in business and business-related subjects, such as accountancy, marketing, personnel and banking, may progress into any number of careers including; accountancy; marketing & sales; purchasing; banking; human resources; retail management; logistics.

 

Curriculum in Year 10

 

YEAR 10

Component 1: Exploring Enterprises

• Examine the characteristics of enterprises.

• Explore how market research helps enterprises to meet customer needs and understand competitor behaviour.

• Investigate the factors that contribute to the success of an enterprise.

 

Component 3: Promotion and Finance for Enterprise

• Some topics in Component 3 are linked to learning Component 1 that is covered in Year 10.

• Demonstrate knowledge and understanding of elements of promotion and financial records.

• Interpret and use promotional and financial information in relation to a given enterprise.

 

 

How we assess:

Autumn Term Spring Term Summer Term
Overview  Students would examine the characteristics of enterprises, as part of assignment 1 that would be internally assessed and grades externally verified by the exam board. Students would explore how market research helps enterprises to meet customer needs and understand competitor behaviour, as part of assignment 2 that would be internally assessed and grades externally verified by the exam board. Students would investigate the factors that contribute to the success of an enterprise, as part of assignment 3 that would be internally assessed and grades externally verified by the exam board.
Content
  • What is an enterprise:
    Meeting customer needs by identifying gaps in the market.
  • Being involved with goods, services or both.
  • Identifying and managing competitors.
  • Attracting and retaining customers.
  • Reasons why some enterprises fail.

 

Types and characteristics of SMEs:

  • Size of SMEs; micro, small and medium.
  • Characteristics of SMEs; ownership type, employees, physical or online location.

    The purpose of enterprises:
  • Aims such as making a profit, surviving, expanding, maximising sales, being environmentally friendly or ethical etc.
  • Social and political pressures to influence consideration of wider ethical responsibilities.
  • Range of the types of products and services provided by enterprises, e.g. cleaning,
    fitness instruction, IT consultancies, financial consultancies, selling products,
    for example a food stall, newsagent, artists selling work online etc.

 

Entrepreneurs:

  • Reasons for starting own enterprise.
  • Characteristics of entrepreneurs.
  • Skills for success: knowledge of industry/sector, technical skills, interpersonal
    communication skills etc.

Customer needs:

  • The importance of anticipating and identifying customer needs.
  • Identifying customer expectations.
  • After-sales service.
  • The ways in which different products can be linked to different kinds of customers according to age, gender, income, lifestyle and location.

 

Using market research to understand customers:

  • Qualitative and Quantitative research.
  • Primary and Secondary research.
  • Types of primary research, e.g. questionnaires, visits or observation, interviews or focus groups, surveys.
  • Sources of secondary research, e.g. online research, internet searches, websites, company materials, market reports, government reports.

 

Understanding competitors:

  • The main features which make products competitive; price, quality, availability, unique features and selling points (USP).
  • Identifying competitors.
  • How products stand out from similar products in the market.

Internal factors:

  • Factors within the control of the enterprise that can impact positively or negatively on costs.  For example; understanding the market, keeping customers satisfied, effective planning and financing, marketing and promoting the enterprise, unforeseen human resources costs etc.

 

External factors:

  • Factors outside the control of the enterprise that can impact positively or negatively on costs.  For example; changes in the cost of energy, raw materials, borrowing, premises, changes in costs of marketing or selling, governmental changes etc.
  • Factors outside the control of the enterprise that can impact positively or negatively on
  • Revenues.  For example; competitors, consumer confidence in the economy, changing consumer behaviour, changes in consumer legislation, sales and labelling of products the misuse of information etc.

 

Situational analysis:

  • SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis.
  • PEST (Political, Economic, Social and Technological) analysis.

 

Measuring the success of an SME:

  • Measures of success of SMEs; surviving, breaking even, making a profit, meeting customer needs etc.
  • Reasons for the success of SMEs; skills, hard work, determination, resilience and the ability of the entrepreneur, ability to develop/motivate/train employees, level of customer service/satisfaction and the ability to meet customer needs, years of experience operating in this or similar markets.
  • Methods of measuring success; surviving, making a living, sales volume/value, market share, profit, customer satisfaction/reputation etc.

 

How can parents help?

  •  Encourage your child to read current business news and events.
  •  Discuss your opinions about nearby businesses with your child.
  •  Encourage your child to link school learning to real-life business events.
  •  If possible, share financial understanding with your child; costs, revenue etc.

 

Curriculum in Year 11

 

YEAR 11

Component 2: Planning for and Pitching an Enterprise Activity

• Explore ideas and plan for a micro-enterprise activity.

• Pitch a micro-enterprise activity.

• Review own pitch for a micro-enterprise activity.

 

Component 3: Promotion and Finance for Enterprise

• Demonstrate knowledge and understanding of elements of promotion and financial records.

• Interpret and use promotional and financial information in relation to a given enterprise.

• Make connections between different factors influencing a given enterprise.

• Be able to advise and provide recommendations to a given enterprise on ways to improve its performance.

 

How we assess:

Autumn Term Spring Term Summer Term
Overview  Students would explore ideas and plan for a micro-enterprise activity, as part of assignment 1 that would be internally assessed and grades externally verified by the exam board. Students would pitch a micro-enterprise activity, as part of assignment 2 that would be internally assessed and grades externally verified by the exam board. Students would review own pitch for a micro-enterprise activity, as part of assignment 3 that would be internally assessed and grades externally verified by the exam board.
Content

Generating ideas for a micro-enterprise activity:

  • Generate appropriate enterprise ideas and choose one idea for a realistic micro-enterprise.
  • Ideas could involve; innovation of products/services, provision of products/services in new contexts, provision of products/services to new markets etc.
  • Consideration of factors such as; resources available, financial forecasts, costing and pricing, methods of communication and promotion, potential customers etc.
  • A skills audit by learners, to consider; leadership, personal and communication skills required, technical and practical skills required etc.

 

Plan for a micro-enterprise activity

  • Create an implementation plan for the chosen enterprise idea.
  • Aims of the micro-enterprise; financial aims, non-financial aims, and social aims.
  • Product or service to be sold, including; features, benefits and unique selling points, selling price, cost, competitors etc.
  • Identifying the target market; market segment, appeal to target market, how product or service will reach market, establishing and sustaining sales to the target customers etc.
  • Methods of communication with the customer; selection of promotional methods, cost effectiveness, design of promotional materials etc.
  • Resources required ; physical resources, financial resources, human resources, etc.
  • Risk assessment and contingency plans; lack of skills, competitors and their actions, unexpected costs of production, sourcing resources, quality control issues, lack of customer interest etc.

Pitching a micro-enterprise activity

  • Pitching: presenting key elements of a business plan logically.

 

Presenting a business pitch

  • Presentation skills:

o professional behaviour and conduct of presenter

o positive attitude

o well-rehearsed and prepared

o considerate of the needs and interests of the audience

o use of visual aids, e.g. computer projection/slideshow with speaker notes,

handouts for audience, clarity and legibility of text, impact of graphics and images.

 

  • Communication skills:

o body language, gestures and eye contact

o language and tone, pace, volume and projection

o use of business terminology

o listening, handling questions and formulating appropriate responses.

Using feedback and review to identify possible changes to the pitch

  • Receive feedback from audience on:

o the business content of the pitch

o the presentation and communication skills demonstrated.

 

  • Reviewing plan and personal performance, reflecting on feedback gathered from others:

o what went well, e.g. clear synopsis of plan, demonstration of skills

o what went less well or did not go to plan, e.g. not clearly explaining plan,

lack of presentation and communication skills.

 

  • Recommending improvements:

o to the contents of the plan

o to own performance.

 

How can parents help?

  •  Encourage your child to discuss their financial knowledge and learning.
  •  If possible, share financial understanding with your child; costs, revenue etc.
  •  Remind them to pace their exam revision, not leave it all for the last minute.
  •  Utilise the exam board revision guide and study materials provided.