Business and Finance
Students at The Hayfield School have the option to start their Business and Finance education in Year 9.
Some interesting facts:
The UK is the fourth wealthiest country on the planet behind - behind Japan, China and the USA.
9 out of 10 startups will fail. However, what's surprising is the speed of the failure. Many fail within 120 days, around 3 months after launching.
At age 18, all UK residents are expected to start managing their personal finances, usually with no formal education or training.
Money is arguably one of the most important ‘life’ resources that we have at our disposal that directly relates to the quality of life we experience. Used correctly, we have the ability to not only change our lives but the lives of many others through the creation of new and innovative business enterprises.
We have to learn to be the master of this resource otherwise it will be the master of us.
Year 9 - Business and Finance
By the end of Year 9, all of the students that have competed the Personal Finance curriculum will have achieved the Life Award. The Life (Lessons in Financial Education) Award has been created by The London Institute of Banking and Finance and is an industry recognised qualification.
The Life Award has been developed based on the key areas that, as a minimum, children and young people should know in order to be confident and competent in financial experiences.
Your personal finances:
- Sources of money
- Storing money safely
- Spending and budgeting
- Saving and selling
- What is insurance
- How do we keep our money safe?
Money management for your generation
- Modern banking
- Pay and pay calculations
- Types of payment card
- The cost of borrowing
- Using money abroad
- Financial difficulties and their consequences
- Financial advice and protection
KS4 - Enterprise and Marketing
OCR: Enterprise and Marketing - Cambridge Nationals Level 1/2
Who is this qualification for?
This qualification is for learners aged 14-16 who wish to develop applied knowledge and practical skills in enterprise and marketing. It is designed with both practical and theoretical elements, which will prepare learners for further study of qualifications in enterprise, marketing or business.
What will the learner study as part of this qualification?
All learners will study three mandatory topics as follows:
- Enterprise and marketing concepts - Final Exam - 50% of total award
- Design a business proposal - Coursework Project - 25% of total award
- Market and pitch a business proposal - Coursework Project - 25% of total award
Enterprise and marketing concepts:
Underpins the wider learning in this qualification. Learners will develop essential knowledge and understanding of enterprise and marketing concepts, which can be applied to the other units within the qualification.
Through the first topic learners will understand the main activities that will need to happen to support a start-up business, and what the key factors are to consider when starting up a business.
Design a business proposal
Learners will develop the skills to design a business proposal to meet a specific business challenge. They will identify a customer profile for a specific product, complete market research to generate product design ideas, and use financial calculations to propose a pricing strategy and determine the viability of their product proposal.
The knowledge and skills developed by completing this unit will assist learners in the third topic of this qualification.
Market and pitch a business proposal
Learners will develop the skills to create a brand identity and promotional plan for their specific business product proposal developed in the second topic. They will develop pitching skills in order to pitch their business proposal to an external audience. Finally, they will review their pitching skills and business proposal using their learning, self-assessment and feedback gathered.
The knowledge and skills developed by completing this topic will be transferable to further, related learning in areas such as enterprise, marketing or business.
Which subjects will complement this course?
This qualification is complemented by a range of GCSEs such as Business, Maths and English. It also complements creative subjects such as Art and Design and can be delivered alongside other vocational courses including ICT and Creative iMedia.
Useful Links and Revision Pointers:
The following links will be useful in your study of Business, Finance, Marketting and Enterprise:
- Mrs L Mortimer - Subject Leader for Business Studies
- Mr R Bramhill - Associate Assistant Headteacher
For further information please contact Mrs L Mortimer (Subject Leader) via the school telephone number 01302 770589 or via email at firstname.lastname@example.org