Business Studies SMSC Statement

In GCSE Business, SMSC and British Values are promoted as an integral part of the subject. The subject naturally provides students with a sense of enjoyment and fascination in learning about the world around them. As an example, it does this by providing an insight into where the money we spend comes from, why we buy the products and brands we do and where they come from. In addition, students are regularly faced with scenarios that involve them thinking through sequences of events as if they were the Chancellor of the Exchequer or the Governor of the Bank of England, making decisions about interest rates and then thinking through the impact of these decisions on the rate of inflation and unemployment. Students also develop their creative skills when applying their understanding of maths to resolving financial problems for example calculating the break-even point and modelling the impact of changes on this.

There is a strong theme of globalisation running through the subject, showing students how all countries and their populations are dependent on each other. This helps them to recognise the importance of those in other countries to our own economy, as well as recognising and accepting cultural differences, for example how the same product will be marketed in different ways in different countries as a result of some of these differences. What is acceptable in the UK might be perceived as disrespectful in Japan. Students are also encouraged to consider how our wealth might be created at the expense of the conditions in which others live and work in many low income countries. They are challenged to consider whether this is ethical or morally right, what they can do as consumers to tackle this and what the implications could be for our own economy in doing so.

Business Studies also helps to develop a firm grasp of British Values, particularly democracy and the rule of law. Students learn about legislation that affects businesses and employees, for example laws governing health and safety and the fair treatment of employees. Whilst not part of the GCSE specification, time is spent developing an understanding of the role played by Government and Parliament in legislation. As well as an understanding of legislation, students develop a knowledge of taxation, what this is, who pays it and what it is spent on. Again, whilst not part of the specification, time is spent considering some of the ethical and moral dilemmas associated with taxation and, whilst remaining politically neutral, the stance taken by Governments on this topic. The implication for businesses and individuals not following legislation or evading taxation are also considered as part of the contribution to developing the ‘moral’ aspects of SMSC. Students are challenged to consider the difference between criminal behaviour and behaviour that is unethical, for example the difference between tax evasion and tax avoidance and whether the latter, usually involving large multinational corporations, is acceptable.

Students often work together in GCSE Business, exchanging ideas and respectfully challenging the opinions of others. This involves students developing a range of social skills and working with those from different backgrounds, often outside of their normal friendship group. This provides good preparation for life in the work place and modern Britain.