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Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge Syllabus
The Enterprise and Employability Challenge syllabus for Welsh Baccalaureate (Welsh Bacc) in full: 4 chapters, 16 topics and 12 sub-topics, every one listed below, plus 50 Enterprise and Employability Challenge flashcards with answers.
Enterprise and Employability Challenge syllabus: all 4 chapters
Expand any chapter to see its topics and sub-topics.
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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
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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
- Market research and identifying customers
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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
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Pitching and Reviewing
4 topics- Preparing a business pitch
- Delivering a persuasive presentation
- Working effectively in a team
- Reviewing performance and outcomes
Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge flashcards — 50 questions with answers
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.
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.
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.
List five key characteristics of enterprising people.
Creativity/innovation, initiative, calculated risk-taking, resilience/determination, confidence and good organisation (also leadership and problem-solving).
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.
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.
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.
What is a partnership in business?
A business owned by two or more people who share the decisions, profits, responsibilities and (usually) unlimited liability.
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.
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.
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).
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.
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.
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.
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.
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.
What is market research?
The process of gathering, analysing and interpreting information about a market, its customers and competitors to inform business decisions.
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).
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).
What is a 'target market'?
The specific group of customers a business aims its product or service at, identified by shared characteristics.
Show the other 30 Enterprise and Employability Challenge flashcards
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.
Give three common bases for segmenting a market.
Demographic (age, gender, income), geographic (location), and psychographic/behavioural (lifestyle, attitudes, buying habits).
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.
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.
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.
Define 'fixed costs' and give an example.
Costs that do not change with the level of output, e.g. rent, insurance or salaries.
Define 'variable costs' and give an example.
Costs that change directly with the level of output, e.g. raw materials, packaging or hourly wages.
State the formula for total cost.
$$\text{Total Cost} = \text{Total Fixed Costs} + \text{Total Variable Costs}$$
How is total revenue calculated?
$$\text{Total Revenue} = \text{Selling Price per Unit} \times \text{Quantity Sold}$$
How is profit calculated?
$$\text{Profit} = \text{Total Revenue} - \text{Total Costs}$$
What is the break-even point and how is it calculated in units?
The level of output where total revenue equals total costs (no profit or loss): $$\text{Break-even (units)} = \frac{\text{Fixed Costs}}{\text{Selling Price} - \text{Variable Cost per Unit}}$$
What is the contribution per unit?
The amount each unit sold contributes towards fixed costs and profit: $$\text{Contribution per Unit} = \text{Selling Price} - \text{Variable Cost per Unit}$$
What is cost-plus pricing?
A pricing method where the cost of producing a unit is calculated and a percentage mark-up (profit margin) is added to set the selling price.
Define 'competitive pricing'.
Setting a price based on what competitors charge for similar products in order to remain attractive in the market.
What is a budget?
A financial plan that sets out expected income and expenditure for a future period, used to control finances and monitor performance.
What is the marketing mix (the 4 Ps)?
Product, Price, Place and Promotion — the controllable elements a business combines to market a product effectively.
In the marketing mix, what does 'Place' refer to?
How and where the product is distributed and made available to customers (e.g. shops, online, wholesalers).
Give four methods of promotion.
Advertising, social media/online marketing, sales promotions (discounts/offers), public relations, word of mouth and sponsorship.
Why is branding important in marketing?
A strong brand makes a business recognisable, builds customer loyalty and trust, differentiates it from competitors and can allow premium pricing.
Name five skills employers value in employees.
Communication, teamwork, problem-solving, time management/organisation, reliability, adaptability, numeracy/IT skills and a positive attitude.
What is the difference between 'hard skills' and 'soft skills'?
Hard skills are specific, teachable, technical abilities (e.g. coding, accounting); soft skills are interpersonal/personal traits (e.g. communication, teamwork, time management).
What is a CV (curriculum vitae)?
A document summarising a person's personal details, education, work experience, skills and achievements, used to apply for jobs.
List the main sections that should appear on a CV.
Personal/contact details, personal statement/profile, education and qualifications, work experience, skills, interests/achievements and references.
What is a covering (cover) letter?
A letter sent with a CV or application that introduces the applicant, explains why they are applying and highlights how they suit the specific job.
What does the STAR technique stand for when answering interview questions?
Situation, Task, Action, Result — a structure for giving clear, evidence-based answers about past experiences.
Name three things you should do to prepare for a job interview.
Research the company/role, prepare answers to likely questions and examples of your skills, plan appropriate dress and travel, and prepare questions to ask the interviewer.
Give three examples of professional behaviour in the workplace.
Being punctual and reliable, dressing appropriately, communicating respectfully, meeting deadlines, following rules/policies and showing a positive, cooperative attitude.
What is a business pitch?
A short, persuasive presentation in which an entrepreneur explains their business idea to an audience (e.g. investors) to win support, funding or backing.
What key elements should an effective business pitch include?
The idea/USP, the problem it solves, the target market, costs/pricing and financial forecast, why it will succeed, and a clear request (the 'ask').
Why is reviewing performance and outcomes important after a project?
It identifies what went well and what could be improved, measures success against original objectives/targets, and provides lessons to apply to future work.
Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge FAQ
What is in the Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge syllabus?
Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge is split into 4 chapters: Understanding Enterprise, Developing a Business Idea, Employability Skills and Pitching and Reviewing. Together they contain 16 topics and 12 sub-topics.
How many chapters are in Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge?
4 chapters, containing 16 topics and 12 sub-topics. The largest chapter is Understanding Enterprise, with 4 topics.
Are there flashcards for Welsh Baccalaureate (Welsh Bacc) Enterprise and Employability Challenge?
Yes — a 50-card Enterprise and Employability Challenge deck, printed in full in the flashcards section of this page and available in the Examius app with spaced repetition. The free plan covers one exam of your choice, including its flashcards; Examius Pro, a one-time purchase, unlocks every other exam and deck.