The Essence of Business Studies
What is business studies? It is a subject that provides you with the basic knowledge and skills required to function in the business world. It teaches you how things get done and by whom, the right and wrong ways of conducting business, the qualities and skills required to successfully start a business, various ways of investing your money, and how to operate a business responsibly, considering its effect on society and the natural environment.
What Makes Business Studies Special?
Business Studies serves as a stepping stone towards adopting a business-minded world view. When approached correctly, it can open your mind in such a way that, you start seeing these concepts in your day-to-day activities.
Understanding the World Around You
You might be shopping at a grocery store and notice a special offer where a dishwashing liquid is bundled with a related product like a laundry bar soap and sold together as a combo. You will identify this as a type of combination packaging, which is designed to boost the sales of both items, and make the customer feel like they’re getting more value for their money.
When you see a TV advert of a business giving away bursaries; you will be able recognise it as a CSI initiative, because in business studies, you not only learn what CSR is, but also get to understand the subtle differences between Corporate Social Responsibility (CSR) and Corporate Social Investment (CSI). Furthermore, you will no longer be bored or confused when you hear terms such as ‘market share’ and ‘supply chain’, because you will understand what they mean.
The Role of Business Studies in Society
All in all, business studies is a useful subject, especially in an economy like South Africa’s, which is abundant in resources but still struggles with issues such as poverty and high unemployment rates. The subject addresses this imbalance by encouraging young people to think entrepreneurially. In doing so, it plants a seed that will hopefully result in current students becoming future leaders who spearhead economic growth, increased employment rates, and an improved standard of living for all.