This unit enables students to develop an understanding of raising and managing finance, and measuring business performance. It outlines the importance of using resources efficiently within a business to ensure that goods or services can be delivered effectively and efficiently, and to a high quality. Students also consider the external influences that have an impact on businesses, including economic and legal factors.

Unit 1: Marketing and people In this unit, students are introduced to the market, explore the marketing and people functions and investigate entrepreneurs and business start-up. This unit enables students to understand how businesses identify opportunities and to explore how businesses focus on developing a competitive advantage through interacting with customers. Students develop an understanding of how businesses need to adapt their marketing to operate in a dynamic business environment. It also considers people, exploring how businesses recruit, train, organise and motivate employees, as well as the role of enterprising individuals and leaders.

Students investigate businesses that trade on a global scale and explore their reasons for doing so. Students develop an understanding of the globally competitive environment and consider the ethical and moral dimensions of global business activities.

1 – Business activity and influences on business This section covers the various objectives of a business, changing business environments and the criteria for judging success. The focus is on the importance of having clear business objectives and how the business environment provides opportunities for, and imposes constraints on, the pursuit of these objectives. 2 – People in business This section looks at people in organisations, focusing on their roles, relationships and management in business. 3 – Business finance This section explores the use of accounting and financial information as an aid to decision making. 4 – Marketing This section focuses on identifying and satisfying customer needs in a changing and competitive international environment. 5 – Business operations This section examines the way organisations use and manage resources to produce goods and services.

This unit moves from functions to strategy, enabling students to develop their understanding of the core concepts and to take a strategic view of business opportunities and issues. Students analyse corporate objectives and strategy against financial and non-financial performance measures and how businesses grow, and develop an understanding of the impact of external influences. The unit also covers the causes and effects of change and how businesses mitigate risk and uncertainty.