The Future of Business Studies

Time for a little reflection at the end of 2010. I set myself the task to spend 30 minutes thinking about what new topics might be included in a modern A Level Business Studies curriculum…

A common criticism of the existing (and certainly previous) A Level Business Studies specifications is that they bear too little resemblance to what real-life business is about.

An A Level Business Studies candidate can come away from Year 13 with a deserved A* grade and still know next to bugger-all about the practicality of starting, growing and managing a business. That’s certainly not the student’s fault - its simply a function of an exam system that rewards exam technique well above practical understanding or experience.

Of course, not all A Level Business Studies specifications are the same. The AQA A Level is the clear gold standard amongst the choice of AQA | OCR | Edexcel | WJEC & SQA. Candidates sitting AQA’s BUSS4 terminal paper face a significantly more challenging and realistic exam than, say, OCR where the absence of real-life and realistic business scenarios makes Unit F297 a hugely disappointing and tame end to a course.

But a common criticism that can be levelled at all the A Level specifications is that they remain somewhat outdated. In several areas, the business world has moved well beyond the scope of the existing specifications.

Partly this is a function of the requirements of the exam system. Topics need to be capable of examination! There needs to be some academic rigour behind the core topics examined. Quite right too.

A Level Business courses have long been positioned as watered-down, simplified versions of MBA courses. The old chestnuts of motivation theorists, SWOT analysis, primary and secondary market research, 4Ps, CPA and tall/flat organisational structures can usually be relied up to take up a big chunk of the course even though there is hardly an entrepreneur in the land that gives them the slightest thought.

An alternative explanation is that the people responsible to devising the specifications and the papers set are too divorced from real-life business. Relatively few of them have any detailed experience of working in a business, let alone starting one. There also seems to be a reluctance to embrace the fundamental ways in which technology is disrupting the traditional structures of doing business - both the functional areas of business and the competitive nature of markets in which businesses have to compete.

So imagine if the next A Level Business Studies specifications were being set by real businesses - perhaps by a group of successful entrepreneurs and CEOs. What might they want to include to help ensure that the A Level student completes the course with an understanding of modern business?

There are so many potential topics or aspects of business life that are not covered in one or more of the existing specifications. My suggestions for some possible topics are listed below. I would welcome your suggestions on others.

In no particular order of importance…

(1) Effective customer relationship management (CRM processes, systems, links with customer service)

(2) The role of direct marketing in capturing and converting customers (analogue v digital; ethics & legislation)

(3) Accelerating growth through strategic alliances & joint ventures

(4) The virtual, collaborative business (including offshoring, outsourcing, cloud computing)

(5) Harnessing the power of social media to engage customers and drive growth

(6) Managing for business efficiency in a low-growth environment

(7) Competing effectively online

(8) The rise of the East - competitive challenges and opportunities

(9) How disruptive technology is changing the competitive structure of markets (nanotechnology, mobile, convergence)

(10) Managing business risks

(11) Managing in an uncertain global economic environment

(12) The ethical, sustainable business (CSR, sourcing)

(13 Managing a global business (including cultural issues, supply chains)

(14) Building and sustaining a successful brand