Business Studies
Building better businesses
Here at RIC, we believe that business education is about more than just crunching numbers and drafting reports—it's about preparing you for the real-world challenges and opportunities you'll face in today's ever-evolving business landscape.
Our curriculum is designed to provide a comprehensive foundation in all key business disciplines, including finance, marketing, management, and entrepreneurship. But what truly sets us apart is our commitment to integrating ethics and sustainability into every aspect of our program. In today’s global market, understanding the importance of ethical decision-making and sustainable practices isn't just a nice-to-have; it’s essential. We aim to cultivate business leaders who not only excel in their fields but also contribute positively to society and the environment. For instance, you might explore how Unilever has successfully integrated sustainability into its core business strategy, leading to both environmental benefits and increased profitability. Additionally, we delves into the creative industries, where innovation and ethical considerations intersect to drive business success.
Throughout your studies, you'll have the opportunity to engage in hands-on projects, internships, and collaborative ventures that bring theoretical concepts to life. Whether it’s developing a marketing strategy for a local nonprofit, analysing financial trends for a sustainable investment fund, or launching your own startup with an ethical twist, you’ll find countless ways to apply your knowledge and skills.
Profit is what happens when you do everything else right.
Exam Specifications
Assessment method
100% exam assessed
Length of exams and breakdown of units: 3 x 2 hour examinations
Course content
There are three exam papers, covering a broad range of topics. The exams cover the following topic areas:
What is business?
Managers,leadership and decision making
Decision making to improve marketing performance
Decision making to improve operational performance
Decision making to improve financial performance
Decision making to improve human resource performance
Analysing the strategic position of a business
Choosing strategic direction
Strategic methods: how to pursue strategies
Managing strategic change
Although each paper can cover all of the above topics, the manner of assessment is different for each exam. Paper 1 has three compulsory sections, with multiple choice, short answer and extended essay questions. Paper 2 consists of three data response questions and Paper 3 centres on one compulsory case study with questions based on this.
Assessment
100% examined. Two written exam papers, completed at the end of the course.
Paper 1: 1-hour 30 minutes, short answer and data response
Paper 2: 1-hour 30 minutes, case study
Business in the real world
This section introduces the underlying ideas and concepts of business and includes the purpose and nature of business activity and how businesses can be classified. Enterprise and entrepreneurs, and why some businesses grow while others remain small are further important issues. How business size can be measured, types of business organisation, business objectives and stakeholder objectives are the concluding topics.
External influences on business activity
This section focuses on different external influences on business activity and how these impact on a business. It includes government influences on economic, environmental and ethical issues and how they impact on the functional areas of businesses. In addition, the international economy including globalisation and its effects on businesses and governments, multinational businesses and exchange rates are important issues. Legal constraints are an external influence to be considered but these influences are covered in the relevant functional areas above, as well as in this last section.
Human resources
The focus is the functional area of human resources and includes the importance and methods of motivating a workforce. How businesses are organised and managed and the methods of recruitment, selection and training of employees are also considered. Finally, the section covers the importance and methods of effective internal and external communication.
Operations management
The focus is the functional area of production and includes the meaning and methods of production and how productivity can be increased. The different costs of production and break-even analysis are covered. The section concludes with the importance and methods of achieving quality in the production process and location decisions of businesses.
Marketing
This section includes the role of marketing, the distinctions between niche and mass markets and the techniques of market segmentation. The methods and importance of market research are covered. The central role of the marketing mix, i.e. the four Ps, is made clear. Marketing strategies to influence consumer decisions at home and in new foreign markets are the final topics in this section.
Financial information and decisions
This finance and accounting section covers the need for and sources of business finance, cash-flow forecasting and working capital. Simple income statements are covered as well as statements of financial position and the analysis of accounts including why and how accounts are used.
Curious about Business Studies?
Read
What can I do with a degree in Business? - A collection of articles discussing how what a Business degree can lead to
https://www.topuniversities.com/student-info/careers-advice/what-can-you-do-business-degree
https://thebestschools.org/degrees/business-degrees/
https://www.prospects.ac.uk/careers-advice/what-can-i-do-with-my-degree/business-management
https://drive.google.com/open?id=1EMv4rQcQdhgQ6JFSk6gvawfhu6lufYO2Business Ideas simply explained
Online
https://www.fundera.com/blog/business-finance-terms-and-definitions Business glossary and key terms
https://app.senecalearning.com/classroom/course/609d2093-4bcc-4d5d-a0d3-3b20148430cd/section/218cd690-f3a8-4c03-9b8e-c2d0dfa8bebd/section-overview Seneca Learning resource for online self-paced learning
https://hbr.org Articles and news stories around current business thinking
https://www.forbes.com/business/#6dbbb7c8535f As above
Listen
https://www.businessnewsdaily.com/11182-best-business-podcasts.html interesting podcasts on Business
https://wondery.com/shows/business-wars/ Business wars, how they are fought and won
Watch
https://www.youtube.com/playlist?list=LLwX4dnC-SuRvmZQR3PO3LVw A series of videos ranging from short introductions to business ideas and terms to full documentaries on current businesses
https://www.youtube.com/results?search_query=tutor2u+business+a+level A selection of Tutor2U videos used for revision and assessment