S3 Business

Pupils will study three Business topics in S3.  information on each is detailed below:

The Business Environment 

This unit of work reinforces, and extends, learning from S1 and S2.  It is designed to explore the environment in which businesses operate. 

• Needs and wants (recap)

• Goods and services (recap)

• Factors of production

• Sectors of industry

• Enterprise and entrepreneurs

• Sources of finance

• Sectors of economy

• Types of business (sole trader, partnerships, franchises, private limited companies)

Pupils will have a number of 'progress checks' throughout the topic, which will either be peer marked, self-marked or marked by the teacher.

Marketing 

Marketing is all about how businesses get consumers to purchase their products.  Pupils will be exposed to several marketing concepts, including:

• What is marketing all about?

• What is market segmentation, and why does it matter?

• Methods of market research

• The marketing mix (4 P's)

This unit will be delivered in conjunction with a locally-based business.  Pupils will be given a breif and work in groups to create a pitch to put to the owner.  Pupils will be putting theory into practice, learning as they progress through the project.  As part of the project, some work out with the classroom will be inevitable.

At the end of the project, pupils will complete an individual Business Report that gives an analysis of the project.

Influences on Business

This unit exposes pupils to factors that influence business decisions.  Pupils will look at:

• The external business environment (PESTEC factors)

• The internal business environment (internal factors)

• Stakeholders 

• Interest of different stakeholders

Pupils will have a number of 'progress checks' throughout the topic, which will either be peer marked, self-marked or marked by the teacher.

Assessment

The Business Environment
Pupils will have a written assessment at the end of the topic.  This assessment is very important, as it will be used to recommend the level which pupils can continue Business Management at in S4.  Generally, pupils require to achieve at least 50% to be recommended to study Business Management at N5 level.  

Marketing
This topic is assessed via:
Marketing Pitch
Pupils will need to ensure they fully answer all the areas of the brief in their presentation, as well as answer any questions from the audience.   In addition, group working will be assessed.
Business Report
This report will be marked according to Qualfications Scotland guidlines.  Feedback will be provided on where pupils have been awarded marks, and how they can improve (which will be important should they wish to take Business Management in S4).

Influences on Business
There will be no "formal" assessment of this topic.  Instead, pupils performance will be monitored as they progress through the topic.

Pupils currently only look at one topic for Economics.

Introduction to Economics

Economics is a vibrant subject; it affects everything we do in life.  This topic touches on the very basics of how the economy works.  Pupils will be introduced to a number of different economic terms and theories, including: 

• The basic economic problem (scarcity)

• Opportunity cost

• The theory of demand

• Conditions of demand

• Determinants of demand

Critical thinking and problem solving skills are essential in Economics, and this course will develop pupil skills in these areas.

Assessment

Pupils will have an end of topic assessment that will sample from the content covered.  This assessment is very important, as it will be used to help decide if pupils are given an N5 Economics recommendation for S4.  Pupils will need to gain at least 50%  to pass.