Business Studies

Updated: 08-06-22

Preparation Work

Welcome to A-Level Business. We hope that you enjoy the course and over the next two years, you develop a passion for the subject and an awareness of the importance that organisations play in today’s world.

The purpose of this work is to provide you with a head start to your studies in September but also to explore some of the wider issues affecting businesses and industries.

Please e-mail your completed work to pmcginn@hartonacademy.co.uk, making sure that the subject line reads ‘A-Level Business Summer Tasks’.

You should read the appendix and complete the activities on note taking before commencing the bridging work.

We look forward to receiving your work. Good luck!

The Business & Economics Department

 

Activity 1: Industry experts

As you’ve opted to study business, you clearly have (or should have) an interest in businesses! E.g. what they produce, how they operate, the customers they aim to target and serve etc. This first task is your opportunity to explore an industry of your own choice. This will prove to be an invaluable resource moving forward as you can apply your newly found knowledge to questions and cases throughout the course.

Q) What do you mean by industry?

 A) An industry is essentially a collection of firms that are involved in the production of goods and services.

For your industry, try to find out the following:

  • Size of the market (measured by sales volumes or value
  • The existing competitors and their market shares
    • The main brands of these competitors
      • g. if you choose the car industry and examine VW – they produce the VW Golf, Polo etc but also own Skoda, SEAT and Audi to name a few.
    • What are they factors affecting change in that market?
      • Social – e.g. increased demand for vegan based foods
      • Political – e.g. tensions between USA and China impacting availability
      • Legal
      • Economic – e.g. changes in inflation (average level of prices), exchange rates etc
      • Technological – e.g. 5G introduction in telecommunications
    • What different segments exist in the market to meet customer needs
      • g. in the watch industry – there are fitness watches/trackers, watches aimed at children, luxury watches, male / female etc
    • Market growth and potential for future growth
    • Pricing strategies used
      • Discounts
      • Peak / off peak
    • How stakeholders are affected by changes in that market
      • Customers
      • Suppliers
      • Employees
      • Managers
      • Owners (Shareholders)
      • Local community

The following resources will help you:

www.bbc.co.uk/news/business
theguardian.com/uk/business
pwc.co.uk/industries.html
www2.deloitte.com/uk/en/pages/private-markets/articles/private-markets- research-and-insights.html
gov.uk/cma-cases
statista.com

Activity 2:  Investigating markets and enterprise

The $2bn sneaker resale market: How entrepreneurs are cashing in Watch this video on the sneaker resale market in the USA https://www.youtube.com/watch?v=ez2cg-xo1L4

Answer the following questions:

  • Explain why entrepreneurs are able to cash in on the growing demand for sneakers in the USA
  • Describe one entrepreneurial characteristic shown in the video
  • “Like the soles on a pair of well-worn trainers, the boom in demand for sneakers will fade and therefore the potential for entrepreneurs to make high levels of profits in the long run will ”

To what extent do you agree with this view?

  • Use YouTube to search for own news story or short clip that demonstrates entrepreneurship or an interesting business story. Note down the link and summarise the story

Activity 3: Which Entrepreneur?

This work should be brought with you to your first business lesson of the year. You need to research an entrepreneur of your own choosing.
Let your creativity run free and produce a poster profiling this entrepreneur.

This can be presented in any way that you want, but the more creative, the better!

We’d like to use these are part of our displays in the new year.

You should include key facts relating to their business(es), personal background, entrepreneurial skills and qualities.

Key Staff

Mr J Murphy :
Assistant Head of Year 10

Name: Mr J Murphy

Role: Assistant Head of Year 10

Email: JMurphy@hartonacademy.co.uk

Mr P McGinn :
Subject Leader and Teacher in Charge of

Name: Mr P McGinn

Role: Subject Leader and Teacher in Charge of Assessment, Recording & Reporting (KS5)

Email: PMcGinn@hartonacademy.co.uk

Mrs K Watson :
Teacher

Name: Mrs K Watson

Role: Teacher

Email: KWatson@hartonacademy.co.uk

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