The Business Studies department’s vision is to create a recognised community of learning, knowledge creation and practice which prepares students for the challenges and opportunities for the local and global economies of the 21st century. It is a vision that is anchored in the values of intellectual excellence, innovation and relevance but equally looks forward and embraces the expectations and aspirations of contemporary society.
In the business department at Magna Academy it is important that students appreciate the purpose and nature of every business in the real world and that all businesses are unique in their own way. Students who study business are exposed to a wide range of stakeholders and shown their differing interests in a business and its operations. It is vital that students appreciate how external and internal influences can affect the success and how a business operates in a changing environment and need to diversify to compete in such a volatile industry. Businesses need to alter their logistics and embed new technology all the time such as e or m commerce.
Students will need to fully understand abstract concepts such as globalisation and know how to capitalise on producing goods abroad in a global setting. They need to see that businesses will have to choose to organise their employees to supply goods and services in the most efficient way to ensure maximum customer satisfaction and profit. Students will be taught how to appreciate the complexities of recruitment and retention of employees and have an integral part in the performance of any business. Throughout the course students will have the opportunity to use their analytical and creative skills to produce marketing plans and promotional materials to show their grasp of the ways that businesses communicate with their customers and suppliers.
It is imperative that students fully understand the financial implications of starting a business and will learn how to construct a variety of financial accounts such as cash flow, break even, profit and loss and balance sheets and will be able to analyse and evaluate the financial performance of businesses. Alongside the content of the business courses offered by the business department students will be able to build their confidence through presentations to pitch their business idea as well as work in groups to encourage resilience and communication between peers.
They will also learn essential employability skills like interview techniques and recruitment processes to acquire a job at the end. The curriculum is based on real world examples and plays a vital role for helping students to understand the business world locally and globally. This will help them to prepare for their future careers and will equip them with the skills to interact and succeed in the business world.
Throughout their studies students will look into the world of business both locally and globally using a variety of real case studies linked to the concepts they will be studying during their lessons. Topics will include preparing a pitch for a mini enterprise and examining the business world in their local area. GCSE students will be taught how to understand the purpose of business and the logistics to set them up. The course will be taught using booklets, knowledge organisers and textbooks, and lessons will be adapted so that all students can fully access the Business Studies curriculum at all times.
As often as possible alumni or local business owners will be encouraged to visit lessons to show their experience of the types of businesses that they have chosen to set up or work in. This is so that the students can see the bigger picture and how businesses in the local area are interdependent on each other and therefore contribute to the success of the local economy in the South West. Regular retrieval practice will be embedded in lessons to ensure that any knowledge has been retained properly by all the students that choose Business Studies. Many different skills will be taught throughout the course of their business choices. These skills will include how to calculate a variety of business accounts and analyse the data to ensure the success of a business alongside the logistics of how to set up and run a business so that it succeeds in the first year of trading and does not suffer from the climate of the economy at that time.
All business courses follow a logical sequence of lessons to enable students to see the logistics of business and they will have a variety of opportunities to experience business first hand on their learning journeys by visiting places of work including a Lush factory tour. It is essential that students are fully aware how Business Studies fits into the wider curriculum and relates to their Future choices. At every opportunity they will be made aware of the choices available in the future for their careers and of the vast variety of jobs available throughout the business world both locally and globally and the many alternatives to becoming the person that they want to be.
Business is assessed using a variety of examinations and practical coursework for BTEC. Exams can be taken in January and May for BTEC and GCSE will sit two papers in the Summer exam window in the second year that they study the subject.
The proposed impact of studying Business is that any student who takes these courses can be successful in the business world. They will learn the skills of how to interact with people of all ages and backgrounds and know the importance of how to conduct themselves in the different scenarios that they could encounter in the future. This curriculum works in parallel with Magna Academy’s future skills especially media literacy, cross cultural competency, creative and adaptive thinking as well as entrepreneurialism that is widely encouraged throughout all business courses.
Students will learn to be confident and resilient so that they can make a positive contribution to the community where they choose to be when they have left the academy.
Having an excellent set of results will help them to move on to wherever they choose, be it at university in an apprenticeship or job and the knowledge that they have learned in Business Studies will help them to gain a successful and exciting future.