Year 11 Unit 2 – Controlled assessment (25%) Unit 5 – Introduction to economic understanding (50%)

Controlled Assessment

Topics – you choose one! Task 1 (1.1) To what extent is the business you have chosen successful in meeting its customers’ needs? Task 2 (1.2) Which enterprise skill has been most important for the entrepreneur you are investigating? Task 3 (1.3) Which is the most appropriate method to increase revenue for the business you have chosen? Task 4 (1.4) Which is the most important element of the marketing mix for the small business you have chosen? Task 5 (1.5) Oil is an important commodity. To what extent have demand factors been more important than supply factors in explaining the change in the price of oil over the last 12 months?

Introduction (Task 5 in brackets) About the business (Commodities) What it does (how oil is used) Type of business (who are the main oil companies) Target market (who are the main users of oil) Location (where does oil come from) Size

Knowledge Task 1 (1.1) To what extent is the business you have chosen successful in meeting its customers’ needs? Task 2 (1.2) Which enterprise skill has been most important for the entrepreneur you are investigating? Task 3 (1.3) Which is the most appropriate method to increase revenue for the business you have chosen? How can businesses meet their customer needs? How do they do this? What are the benefits of businesses meeting customer needs? Where did you get this information from? What are these skills? How are they important? What is the difference between skills and qualifications? What are the benefits of having these skills? What is revenue? How is it calculated? How can a business increase its revenue? What are the benefits of a business increasing its revenue?

Knowledge Task 4 (1.4) Which is the most important element of the marketing mix for the small business you have chosen? Task 5 (1.5) Oil is an important commodity. To what extent have demand factors been more important than supply factors in explaining the change in the price of oil over the last 12 months? What is the marketing mix? What are the elements of the marketing mix? For each of the elements, give more detail of how each can be used by businesses Where did you get this information from? What is demand? What is supply? What factors affect supply? What factors affect demand? Show these in a diagram(s)

Application Task 1 (1.1) To what extent is the business you have chosen successful in meeting its customers’ needs? Task 2 (1.2) Which enterprise skill has been most important for the entrepreneur you are investigating? Task 3 (1.3) Which is the most appropriate method to increase revenue for the business you have chosen? How has the business tried to meet the needs of customers? What did they do? How did they do this? What evidence do you have? (sources of information) What skills does the business person have? What skills are most important to them? What skills would the business person like or advise other entrepreneurs to develop? (How do you know-sources of information?) How has the business tried to increase its revenue?

Application Task 4 (1.4) Which is the most important element of the marketing mix for the small business you have chosen? Task 5 (1.5) Oil is an important commodity. To what extent have demand factors been more important than supply factors in explaining the change in the price of oil over the last 12 months? Which elements of the marketing mix are used by the business? How do the use them? Describe and give examples of how they are used. Identify your sources of information What has happened to oil prices over the last 12 months? Describe what has happened. How does this affect small businesses? What are your sources of information?

Research results Task 1 (1.1) To what extent is the business you have chosen successful in meeting its customers’ needs? Task 2 (1.2) Which enterprise skill has been most important for the entrepreneur you are investigating? Task 3 (1.3) Which is the most appropriate method to increase revenue for the business you have chosen? Conduct a survey to find out what the most effective methods are in meeting customer needs. (primary research) Produce a questionnaire Present the results in a graph (identify your data source) Analyse the results (what do they tell you) Conduct a survey to find out what the most effective skills are. (primary research) Conduct a survey to find out what the most methods there are for increasing revenue. (primary research)

Research results Task 4 (1.4) Which is the most important element of the marketing mix for the small business you have chosen? Task 5 (1.5) Oil is an important commodity. To what extent have demand factors been more important than supply factors in explaining the change in the price of oil over the last 12 months? Conduct a survey to find out what the most effective elements of the marketing mix. (primary research) Produce a questionnaire Present the results in a graph (identify your data source) Analyse the results (what do they tell you) Conduct research to find out what supply and demand factors have affected the price of oil. (secondary research)

Evaluation Task 1 (1.1) To what extent is the business you have chosen successful in meeting its customers’ needs? Task 2 (1.2) Which enterprise skill has been most important for the entrepreneur you are investigating? Task 3 (1.3) Which is the most appropriate method to increase revenue for the business you have chosen? What problems might the firm face when trying to meet customer needs? How might they overcome these problems? Give some examples of Methods-problems-solutions What problems might the owner face and how might these skills help them? What problems might the business face when trying to increase revenue? Key words/phrases: However, in my opinion, the problem with this is, a solution to this could be, comparing these, my judgement would be, I would advise, an argument against this would be, an argument for this would be, overall I think that.

Evaluation Task 4 (1.4) Which is the most important element of the marketing mix for the small business you have chosen? Task 5 (1.5) Oil is an important commodity. To what extent have demand factors been more important than supply factors in explaining the change in the price of oil over the last 12 months? What problems might the firm face when using an element of the marketing mix? How might they overcome these problems? Give some examples of Methods-problems-solutions What problems might the firms face when faced with oil price changes? Key words/phrases: However, in my opinion, the problem with this is, a solution to this could be, comparing these, my judgement would be, I would advise, an argument against this would be, an argument for this would be, overall I think that.

Conclusion This should be a short summary of what you have done, how you did it, what you found out and contains the answer to the chosen question with a short recap of why you have come to that conclusion.

Appendix This is the final section which contains Interview questions asked Questionnaire that you might have used Results of any survey (primary research) you have done (data or graphs) Any screenshots of website resources you have used or graphs that you have produced (secondary research) Any documents you have collected as part of your research A glossary of key terms used A sources of research sheet (THIS IS ESSENTIAL) ALL OF THESE MUST LINK TO YOUR WRITTEN SECTION A log of the research times, dates and evidence collected (NO MORE THAN 6 HOURS)

Marks Research (12) Present information/data (8) Analysis (12) Evaluation (8) Overall Mark (40)