Term 1: 3.7 Analysing the strategic position of a business
This unit examines strategic planning and the various growth strategies businesses can pursue, including organic growth, mergers, and acquisitions. Students explore tools for analyzing the external business environment, such as PESTLE and SWOT analysis, to identify opportunities and threats. The unit emphasizes the importance of strategic decision-making in achieving long-term objectives and sustaining competitive advantage. Additionally, students learn about change management and the challenges organizations face during periods of transformation, preparing them to critically evaluate business strategies in a dynamic marketplace.
Students will sit and end of unit assessment based on their learning.
Aims
a generalized statement of where the business is heading
Mission
an aim expressed in a particularly inspiring way
Mission statement
a short passage of text that sums up the organisation's mission.
Satisfice
To make a decision that achieves a compromise between different objectives.
Develop the individual:
Students will gain a greater understanding of Corporate strategy and looking at why firms decide to grow or remain small depending on aims and objectives
Create a supportive community:
Students will be working in different groups and on an individual level to explore how firms are impacted by external influences and why some firms can choose to remain small
Term 2: 3.7 Analysing the strategic position of a business and 3.8 Choosing strategic direction
Students will learn how implementing strategic methods is the subsequent phase in this process. Businesses can pursue their strategies through a variety of approaches, including organic growth, mergers and acquisitions, or strategic partnerships. Each method comes with its own set of advantages and challenges, necessitating careful consideration of the organizational context and market conditions.
Students will sit and end of unit assessment based on their learning.
Copyright
this makes it unlawful for people to copy an author's original written work
Monopoly power
is the ability to charge high prices because you are the sole supplier of a product
Patents
provide the inventor of a technical breakthrough with the ability to stop anyone copying the idea for up to 20 years
Tariffs
are taxes that apply to imports only
Develop the individual:
This will give students a chance to experience real life finance, understand the balance between various stakeholders and look at business ethics
Create a supportive community:
It helps the students recognize various points of view and practice balancing demands of various groups and people.
Term 3: 3.9 Strategic methods: how to pursue strategies
In the dynamic landscape of modern business, understanding the strategic position of an organization is critical for sustained success. This involves a comprehensive analysis of both internal and external factors that impact business performance. To effectively analyze the strategic position of a business, one must consider frameworks such as SWOT analysis, which identifies strengths, weaknesses, opportunities, and threats, along with tools like PESTEL analysis to evaluate the political, economic, social, technological, environmental, and legal influences.
Students will sit an end of unit test based on their learning.
Organic growth
growth form within the business
Rationalisation
reorganizing to increase efficiency
Strategic gap
the difference between where the business is and where it plans to be
Develop the individual:
Students will gain an understanding as to the reasons why businesses grow or retrench
Create a supportive community:
Students will work in groups to understand the impact to wider society of changes in business employment and redundancies
Term 4: 3.9 Strategic methods: how to pursue strategies
In the dynamic landscape of modern business, understanding the strategic position of an organization is critical for sustained success. This involves a comprehensive analysis of both internal and external factors that impact business performance. To effectively analyze the strategic position of a business, one must consider frameworks such as SWOT analysis, which identifies strengths, weaknesses, opportunities, and threats, along with tools like PESTEL analysis to evaluate the political, economic, social, technological, environmental, and legal influences.
Students will sit an end of unit assessment based on their learning.
Capacity utilisation
actual output as a proportion of maximum capacity
Capital investement
expenditure on fixed assets such as machinery
Delegate
Hand power down the hierarchy to junior managers or workers
Organic growth
growth form within the business
Synergy
this occurs when the whole is greater than the sum of the parts. TI is often the reason given for mergers or takeovers occurring
Research and development
scientific and technial research aimed at producing innovative products or processes.
Develop the individual:
Students will gain an understanding as to the reasons why businesses grow or retrench
Create a supportive community:
Students will work in groups to understand the impact to wider society of changes in business employment and redundancies
Term 5: 3.9 Strategic methods: how to pursue strategies
Students will study the final unit. Managing strategic change is essential for adapting to an ever-evolving environment. This involves not only the implementation of new strategies but also ensuring that the entire organization is aligned with these changes. Effective change management requires clear communication, stakeholder engagement, and a robust framework to guide the transition, helping to mitigate resistance and enhance the likelihood of successful outcomes
Students will sit and end of unit assessment based on their learning.
Copyright
this makes it unlawful for people to copy an author's original written work
Monopoly power
is the ability to charge high prices because you are the sole supplier of a product
Patents
provide the inventor of a technical breakthrough with the ability to stop anyone copying the idea for up to 20 years
Tariffs
are taxes that apply to imports only
royalty
A payment received by the owner of a patent or copyright
Develop the individual:
Students will gain an understanding as to the reasons why businesses grow or retrench
Create a supportive community:
Students will work in groups to understand the impact to wider society of changes in business employment and redundancies
Term 6: 3.10 Managing strategic change
Once a thorough understanding of the current strategic position is established, the next step involves choosing a strategic direction. Organizations must weigh their options carefully, deciding between various pathways such as cost leadership, differentiation, or focus strategies. The chosen direction should align with the organization’s vision and the expectations of stakeholders, ensuring that resources are allocated effectively to support long-term goals.
Students will sit and end of unit assessment based on their learning.
First mover advantage
the advantages gained by a firm that is first to launch their new product in to the market
Operational gearing
measures a firms fixed costs as a percentage of tis total costs. Low operational gearing implies that a company es overheads are relatively low, which will help to reduce risk by decreasing the break=-even output level
Organisation chart
a diagram that shows lines of responsibility and who is responsible and answerable to whom within the organisation
Unfair dismissal
when an employer ends a workers contract for a reason that is not permissible under employment law. An example of unfair dismissal would be ending a female works employment because she became pregnant
Develop the individual:
Create a supportive community: