This course teaches how businesses work; the different types and how the world around them affects decision-making within a business. What leads to change and how do businesses respond to these issues; and the range of perspectives that can be taken on business activities such as the services on offer. This course will help develop a range of important and transferable skills such as data skills; presenting arguments and making recommendations on the basis of the available evidence; and problem solving to help a business maximise their potential. A broad variety of business related topics ranging from finance, keeping records to operations and resource management will be provided.
The course is broken down into ten modules as follows:
Module One - Starting a Business
The course starts by asking how an innovative, original and creative enterprise can be set up or build an already established business such as a market stall, a shop, a factory or a service provider. The first step requires generating and protecting business ideas, and transforming resources into goods and services. A business plan is developed by conducting start up market research, understanding markets, choosing the right legal structure for the business, raising finance or adding money to an established business, locating/ changing or expanding the business, and employing people. Many people start by working at home or providing services on-line, but thought needs to be given the same as if establishing an external business, and this requires a similar model with planning, organising and delivery tactics. A key requirement is to look at what works, learn from what does not work and look at recent trends to capture anything missing or topical or popular.
Module Two - Financial Planning
Nothing happens without money and calculating costs. Initial plans involve using break-even analysis to make decisions about profit margins and how much to charge for products and services. Using cash flow forecasting, budgets can be set to help assessing business start- ups. Thought is given to where the money comes from and how to raise necessary funds.
Module Three - Finance
Closely linked to the previous module, how to manage money by using budgets, improving cash flow in order to measuring and increasing profits. Some business employ different staff to deal with each area of business, however small or new business with little turn-over or the need to manage all aspects of the job themselves, will hire staff to multitask. There are some great finance packages and support both in books and on-line. Legal requirements include the paying of taxes and contribution to the health and pension care of employees. As profits grow, so the finances need to be audited. An understanding of finance is key to maintaining balance, meet legal duties and transparency of a business.
Module Four - People in Business
The performance and attitude of people in business is key to success. It is said that a great leader has a competent team or workforce behind them. Often the Human resource task is allocated to one staff with responsibilities for managing their needs and maintaining legal duties e.g. through training and personal development. They are involved in setting up and managing the staff. If the business has only one or two staff, it still needs to be aware of the roles and responsibilities of each staff member. These can be written down in a handbook or managed through meetings and discussions. All businesses need an organisational structure so everyone is clear what they are doing, they know their place in the business structure and that they are being effective. Roles change and develop so this can be updated. As the number of employees grow, so this becomes complicated, but many examples of different organisational structures can be found.
Module Five - Operations Management
There are several ways that businesses are managed both on a daily basis and through long-term planning and formulating strategies. Making operational decisions helps to maintain and promote quality, offer the best Customer service and ensures good working relationships with suppliers. This is made easy through the use of technology in operations. Nowadays invoices are made, paid and managed through the finance package. Profits are maximised if a business is kept in stock that is needed, readily available, that a service is offered with employees having the tools and materials to do their job easily.
Module Six - Marketing and the Competitive Market
It is pointless having a product or service if no one is aware that a business is offering this. Also one cannot become complacent, even if the company has been successful, it is important to be aware of the market trends, what people want, how they want it and where the place of your business fits into the market trends. Effective marketing starts with research and keeping abreast of current market trends and this helps in designing the marketing mix, the product, how to promote and price in order to be competitive and maximise profit. Ideally a business wants to be known as the best in its field and this is achieved through trust, quality of service, good reputation and ensuring the highest, but fairest standards at a good and affordable price.
Module Seven - Marketing Strategies and Operations Management
Smaller and larger business obviously have different needs, but both must have a strategy in place. As business grow the way they organise, form strategy and market their work is crucial. The best business will not work unless it is efficient and has the stock it offers, even if it is people offering a service such as in a Doctor’s surgery or a shop, if staff are not present with good attitude, then customers will go elsewhere or complain, and time can be wasted solving problems instead of offering the best service. Understanding marketing objectives concerns analysing markets to develop a good plan and strategy. Business models can teach many examples of what works and what does not. Similarly close to this is the need to understanding operational objectives, scale and resource, innovation, location and lean production. A classic example is the location of Hypermarkets where supermarkets moved to cheap areas outside towns and cities to offer every product under one roof, offer free parking and a greater range of goods. This has been the reason why smaller shops have closed and high streets are becoming redundant. High Street shops are now being innovative and niche, and competitive.
Module Eight - Human Strategies, Financial Strategies and Accounts
Whether a business has one person responsible for managing all its bureaucracy or several departments, it needs to meet legal requirement s of HR objectives. A HR strategy is developed using tried and tested models and implemented into workforce plans so that staff are aware of their rights and responsibilities such as hours of work, holiday allowance, and training opportunities. It ensures that there are effective employee/employer relations, good working conditions which helps productivity and makes for a competitive organisational structure.
Module Nine - The Business Environment
Even the smallest business must be aware of its businesses environments and the economics, politics and legal requirements of business. Experts predict what will happen by studying and analysing past and present business environments, to make possible projections. We can also learn from other markets such as that happening in Asia at the present. Such models help us determine how businesses are competitive in the present social and technological environment. In the past large empires had great influence over the global business environment, but with immigration and free/ easier travel the global environment has huge impact on work.
Module Ten - Managing Change
IN the past businesses often passed down in the family or in a village or town and continued to run successfully. We know that families have surnames after the business they were known for. Today businesses cannot afford to be complacent, many have closed down, but many have opened or grown and done extremely well. This final module will look at different models to investigate internal causes of change, how businesses need to plan for change by recognising the key influences on change. As mentioned already business plans and strategies to reflect the markets involve decisions that implement and help manage change successfully and efficiently. Students are encouraged to look at the financial pages of major newspaper and even watch television programmes like ‘The Apprentice’ to learn about the business environment and modern changes on conducting business effectively. There are no guarantees, even successful business like Banks and Traditional firms are having to change to meet trends and demands, e.g. M&S, Clarks, restaurants, Pubs, supermarkets and food chains with the onset of easier availability of competitive, cheaper brands on the internet.
All students must be 16 years of age and above.
Level 3 Diploma courses require a minimum prior learning to GCSE standard in order that students can manage their studies and the assumed knowledge within course content.
Approximately 20 hours per unit
Final online multiple choice examination.
Please note that you can enrol on this course at anytime.
Diploma in Business Studies
This course is Quality Assured by the Quality Licence Scheme
At the end of this course successful learners will receive an e-Certificate from Oxford Learning College. There is also the option to purchase an Embossed Certificate and also a certificate from ABC Awards for the qualification.
The course has been endorsed under the ABC Awards Quality Licence Scheme. This means that Oxford Learning College has undergone an external quality check to ensure that the organisation and the courses it offers, meet certain quality criteria. The completion of this course alone does not lead to an Ofqual regulated qualification but may be used as evidence of knowledge and skills towards regulated qualifications in the future.
The unit summary can be used as evidence towards Recognition of Prior Learning if you wish to progress your studies in this sector. To this end the learning outcomes of the course have been benchmarked at Level 3 against level descriptors published by Ofqual, to indicate the depth of study and level of demand/complexity involved in successful completion by the learner.
The course itself has been designed by Oxford Learning College to meet specific learners' and/or employers' requirements which cannot be satisfied through current regulated qualifications. ABC Awards endorsement involves robust and rigorous quality audits by external auditors to ensure quality is continually met. A review of courses is carried out as part of the endorsement process.
ABC Awards is a leading national Awarding Organisation, regulated by Ofqual, and the Welsh Government. It has a long-established reputation for developing and awarding high quality vocational qualifications across a wide range of industries. As a registered charity, ABC Awards combines 180 years of expertise but also implements a responsive, flexible and innovative approach to the needs of our customers. Renowned for excellent customer service, and quality standards, ABC Awards also offers Ofqual regulated qualifications for all ages and abilities post-14; all are developed with the support of relevant stakeholders to ensure that they meet the needs and standards of
employers across the UK.
How can I progress
For more information on how to progress after completing this course, please click here
You will receive a certificate from the College. A digital version is included in the price and will be emailed to you within 5 days of taking your online exam.
Should you require an embossed hard copy of your certificate to be sent to you by Special Delivery post, you can order this separately after taking your exam.
The course can be enrolled upon by students Internationally. There are no deadlines for enrolments.
To view the differences between our qualifications, please click HERE
Online study materials to enable the student to successfully complete the Diploma. Support is provided by the tutor department for the duration of the course (1 year). Certification upon completion. All examination fees.
Payment by Instalments
Students are able to pay course fees in monthly instalments. Click here to download our instalment plan.
The Quality Assured Diploma is a Level 3 equivalent on the National Qualifications Framework. The Diploma is a 1 year course which is self study and is examined by online examination. The Diploma is awarded by Oxford College. Upon completion of the course you will receive certification awarded by Oxford College.
The Level 3 Diplomas require a minimum prior learning to GCSE standard in order to for students to manage study and the assumed knowledge within course content.
They provide an ability to gain and apply a range of knowledge, skills and understanding in a specific subject at a detailed level. Level 3 qualifications such as A levels, NVQ3, BTEC Diplomas etc. are appropriate if you plan to progress to university study.
Level 3 Diploma courses can assist you in career development, continued professional development, personal development, and provision of a basis for further study.
Progression from Level 3 is to specialist learning and detailed analysis of a higher level of information (for example university level study, Diploma Level 5 study).
Your course is delivered online via the Oxford Learning On Campus website.
This is a flexible learning course, so the more time you have to commit to your studies, the sooner you are able to complete.
In the student 'On Campus' you are also able to take part in the student chat room and forums as part of our online student community.
After enrolling online you will receive your username and password to access the On Campus area within 3 working days.
Materials and support provided by Oxford Learning.
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This product was added to our catalog on Monday 17 August, 2009.