Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge Syllabus

Enterprise and Employability Challenge syllabus — full chapter and topic list

Expand any chapter to see its topics and sub-topics. This is the whole examinable outline for Enterprise and Employability Challenge in Welsh Baccalaureate (Welsh Bacc), not a summary of it.

1. 1

   Understanding Enterprise

   4 topics

   • What enterprise and entrepreneurship mean
   • Characteristics of enterprising people
   • Types of business and organisation
     • Sole traders, partnerships and companies
     • Social enterprises and not-for-profits
   • Identifying a business opportunity or need
2. 2

   Developing a Business Idea

   4 topics

   • Market research and identifying customers
     • Target market segmentation
     • Analysing competitors
   • Designing a product or service
   • Costing, pricing and budgeting
     • Fixed and variable costs
     • Break-even and profit
   • Marketing and promotion
     • The marketing mix
     • Branding and advertising channels
3. 3

   Employability Skills

   4 topics

   • Skills employers value
   • CV writing and job applications
     • Personal statements
     • Tailoring applications to roles
   • Interview techniques and preparation
   • Workplace behaviour and professionalism
     • Communication and teamwork
     • Rights and responsibilities at work
4. 4

   Pitching and Reviewing

   4 topics

   • Preparing a business pitch
   • Delivering a persuasive presentation
   • Working effectively in a team
   • Reviewing performance and outcomes

Enterprise and Employability Challenge flashcards for Welsh Baccalaureate (Welsh Bacc)

25 of 50 cards from the Enterprise and Employability Challenge deck — real questions with worked answers.

1. What is meant by 'enterprise'?

   The ability to identify opportunities and take the initiative to turn ideas into action, often involving creativity, problem-solving and a willingness to take calculated risks to create value.

2. Define 'entrepreneurship'.

   The process of setting up and running a business venture, taking on financial risk in the hope of profit, by spotting an opportunity and organising resources to exploit it.

3. What is an 'entrepreneur'?

   A person who creates, organises and runs a business, taking on the financial risks in order to make a profit and bring an idea to market.

4. List five key characteristics of enterprising people.

   Creativity/innovation, initiative, calculated risk-taking, resilience/determination, confidence and good organisation (also leadership and problem-solving).

5. Why is resilience an important characteristic for an entrepreneur?

   Because setbacks and failures are common in business; resilience lets the entrepreneur recover from mistakes, learn from them and keep pursuing the goal.

6. What is the difference between taking a 'calculated risk' and a 'reckless risk'?

   A calculated risk is weighed up using research and evidence to assess potential losses and gains, whereas a reckless risk is taken without assessing the possible consequences.

7. What is a sole trader?

   A business owned and run by one person who keeps all the profit but has unlimited liability, meaning they are personally responsible for all business debts.

8. What is a partnership in business?

   A business owned by two or more people who share the decisions, profits, responsibilities and (usually) unlimited liability.

9. What does 'limited liability' mean?

   The owners' personal assets are protected; they can only lose the money they invested in the business and are not personally liable for the company's debts.

10. What is a private limited company (Ltd)?

    A business that is a separate legal entity owned by shareholders with limited liability, whose shares cannot be sold to the general public.

11. Distinguish between the private sector and the public sector.

    The private sector is owned by individuals/businesses and usually aims to make a profit; the public sector is owned and run by the government to provide services (e.g. NHS, state schools).

12. What is a social enterprise?

    A business that trades to make a profit but reinvests most or all of that profit to achieve a social or environmental aim rather than to enrich owners or shareholders.

13. What distinguishes a not-for-profit organisation (charity) from a typical business?

    Its main aim is a social cause rather than profit; any surplus is reinvested into the cause, and it is often funded by donations and grants.

14. What is a 'gap in the market'?

    A customer need or want that is not currently being met by existing products or services, representing a potential business opportunity.

15. What is meant by a business 'opportunity'?

    A favourable set of circumstances that creates the chance to start a venture or sell a product/service, usually arising from an unmet need, new technology or a change in the market.

16. Name three sources of business ideas/opportunities.

    Personal experience and hobbies, observing problems/gaps in the market, changes in technology, trends, customer feedback and competitors' weaknesses.

17. What is market research?

    The process of gathering, analysing and interpreting information about a market, its customers and competitors to inform business decisions.

18. What is the difference between primary and secondary market research?

    Primary research is original data collected first-hand (e.g. surveys, interviews); secondary research uses existing data already collected by others (e.g. reports, websites, government statistics).

19. Distinguish between quantitative and qualitative data.

    Quantitative data is numerical and measurable (e.g. how many people buy); qualitative data describes opinions, feelings and reasons (e.g. why people buy).

20. What is a 'target market'?

    The specific group of customers a business aims its product or service at, identified by shared characteristics.

21. What is market segmentation?

    Dividing a market into distinct groups of customers with similar needs or characteristics (e.g. by age, gender, income, location or lifestyle) so marketing can be targeted.

22. Give three common bases for segmenting a market.

    Demographic (age, gender, income), geographic (location), and psychographic/behavioural (lifestyle, attitudes, buying habits).

23. What is a USP (unique selling point)?

    The feature that makes a product or service different from and better than competitors', giving customers a reason to choose it.

24. What factors should be considered when designing a product or service?

    Customer needs/wants, function, cost of production, quality, materials, appearance/aesthetics, safety, sustainability and the USP.

25. What is a prototype?

    An early sample or model of a product built to test the concept, gather feedback and refine the design before full production.

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