These qualifications look at business in a consumer society and focus on how business organisations operate, the key concepts and principles related to success in the world of business and the skills needed to work in business. The qualifications retain many of the characteristics of the existing BTEC First in Business (QCF) and provide a broad and solid foundation for progression to Level 3, and a career in the business sector".
For the Award size, there are two core units. These units have been developed in co-operation with schools and colleges across the country, with the content going through a rigorous internal and external review process.
Unit 1 – Enterprise in the Business World
The rationale for this unit is to allow learners to explore key introductory business theory, whilst using their own creativity and entrepreneurial skills to apply that theory to their own business idea. The unit content is designed to inform and inspire learners to develop their own realistic business models and demonstrate them in the form of an internal assessment.
This unit links to, and underpins all other units in this specification so that practical skills and business theory learnt throughout can be incorporated into the assessment. Learners will explore what businesses do, trends that affect them, how they operate and the factors that influence their success.
Unit 2 – Finance for Business
This unit will prepare learners with the essential financial principles that underpin successful business. The unit introduces learners to types of costs businesses incur, from the initial start-up costs to the ongoing daily expenditure of running a business. Learners will also be introduced to financial planning tools (budgeting, cash flow forecasting) and how to measure the results using financial statements (profit & loss, balance sheet).