“Tell me and I forget. Teach me and I remember. Involve me and I learn”
Why Study Business?
Business is a relevant and practical subject that affects us all either directly or indirectly. Having an understanding into how businesses operate in the 21st century is a topic that will intrigue and engage you to understand the business environment, and it’s effect on our society. Business is consistently evolving and adapting in the environment in which it operates. Students that come to study Business are introduced to the internal and external business principles that businesses like Apple, Virgin and Coca-Cola use to become leaders in their markets and sustain their market position.
Here in the Business & Economics department at Woodbridge we pride ourselves on encouraging students to develop and apply analytical skills that test and challenge business strategies, seeking to give students a greater understanding of business and an application that students will be able to adopt in their future careers.
Business students develop critical thinking skills that allow them to challenge and investigate theories of learning. Students also learn the discipline of carrying out independent research that can be transferred to further education & employment. Business students will also develop their communication skills that are highly sought after in the work place, students develop these skills through a series of presentations and in class debates.
KS3 - Year 9 Assessment Framework
At the end of the year, students who are assessed as EXCEEDING the knowledge and skills required will be able to do all or most of the following:
I can make informed decisions and add to discussions surrounding:
- Saving: What saving means, reasons for saving, ways of saving, interest rates & AER, types of savings accounts, money and mental health.
- Making the most of your money: Needs and wants, influences on spending, ways to pay, budgeting, value for money, unit prices, consumer rights.
- Borrowing: Reasons to borrow, good debt and bad debt, simple interest, compound interest, APR, credit history, methods of borrowing, loan sharks, manageable and unmanageable debt)
- Moving on from school – The world of work: Possible next steps after school, student tuition fees and student loans, student bursaries, budgeting as a student, payslip terminology, how to calculate income tax payments, how to calculate national insurance payments, self-employed, the history of income tax, types of pension, the ageing UK population, National Minimum Wage and National Living Wage, welfare system, methods of payment.
- Risk and reward: Types of personal financial risk, weighing up risk, attitudes to risk, types of investment, gambling, types of reward, negative consequences of taking risks, how to protect against financial risk, types of insurance.
- Security and fraud: What we mean by identity theft and the history of it, what is fraud, the different methods used to carry out identity theft, the terminology used in carrying out fraud, tactics to stop a fraud occurring, fake emails and how to spot them, fake websites, how to protect yourself against online shopping fraud, what happens if someone does steal your identity, how to protect yourself against identity theft, passwords and security questions, biometric verification, sources of help for victims of identity theft.
- Enterprise: Creating a winning business idea, setting up a business, business planning, target market, market research, marketing, operations, human resources, business finance.
- Business planning – My planning is clear and precise and includes all the necessary information to enable me to successfully run a business.
- Teamwork – I am able work well in a group situation and to contribute to the group’s overall success.
- Independence – I am self-motivated and able to work autonomously. I can acknowledge my strengths and can act on my weaknesses in order to improve.
- Presentation – I have the confidence to successfully deliver a business pitch to an audience, incorporating research, planning, creativity, and media.
- Creativity – I can come up with solutions to business problems influenced by my own research and imagination.
- Adaptability – I understand the needs of the customer and can adapt the product and related functional areas (Marketing, Production, Human Resources, Finance) to suit them accordingly. I understand that we live in a world that is constantly changing, and I am able to adapt to new concepts and information as it becomes available.
- Critical thinking – I am able to utilise information from a variety of sources to make informed business decisions and regarding my personal finance.
KS4 – GCSE
GCSE Business is a dynamic, interesting and challenging course. It is completely relevant to the world in which we live today, providing students with realistic learning experiences which they will carry on into life. They learn how to use relevant terms, concepts and methods effectively to describe business and economic behaviour.
Students on this course learn to explore business concepts & procedures and the effects that these have on various stakeholders. Students will learn to develop critical thinking to encourage them to test and challenge the different business models that are used within the framework of Business.
KS5 - A Level, Cambridge Technicals
A Level Business looks at the concept and practicalities of Business, whilst relating back to real business scenarios. Theoretical learning looks at planning and financing of a business, managing a business and strategies for success. Students are then able to apply their theory through a series of in class discussions and debates. This encourages students to verbalise and critique business practice helping to embed theory with practical understanding.
Cambridge Technicals are designed in collaboration with experts spanning the breadth of the sector. Cambridge Technicals in Business focus on the skills, knowledge and understanding that today’s universities and employers demand. Students will learn how a business might evolve. From a small start-up business to a large multinational organisation, and they will consider a range of different business types and gain an understanding of how the choice of business type might affect the objectives that are set. Students will also look at the internal workings of businesses, including their internal structure and how different functional areas work together. Plus, by looking at the external constraints under which a business must operate, learners will gain an understanding of the legal, financial and ethical factors that have an impact. Students will also explore ways in which businesses respond to changes in their economic, social and technological environment; and gain an appreciation of the influence different stakeholders can have upon a business.
Economics is about choice and the impact of our choices on each other. It relates to every aspect of our lives, from the decisions we make as individuals or families to the structures created by governments and firms. The economic way of thinking can help us make better choices. The Economics A Level syllabus will give you all that knowledge and more. You'll look at large economies and determine the factors that result in success of failure, and discuss the role of government intervention. In the study of macro-economies you'll learn how countries manage their economies and how they impact on the global economy.
The Business & Economics department at Woodbridge High School is always looking to further enhance theoretical knowledge gained in the classroom twinned with business application. Recent visits and visitors include MAN Group plc [asset management company], Hilton Doubletree Hotel [Excel Centre], George Jaeggi [former president of an automotive cable company], Chris Daniel [co-founder and co-owner of UK snack food company Tooty Fruity] and Elle McIntosh [co-developer of Twipes, the biodegradable wet wipe company].