CBA 1 - Business in Action (Junior Cert Business Studies): Revision Notes

CBA 1 - Business in Action

Overview of CBA 1

CBA 1 is a group project where you work with two or three other students. However, each student must carry out their own individual research. This assessment allows you to explore real business situations and develop practical skills through hands-on learning.

You have three exciting project options to choose from, and your group will pick one that interests you most. All projects follow the same basic structure, but each focuses on different aspects of business.

The three project options

Project option 1: Enterprise in action

This option lets you experience what it's like to be an entrepreneur. You can choose between two approaches:

Develop a product or service You can create something completely new or improve an existing product or service that has potential to reach more customers. For example, you might develop a new app for students or create a service to help elderly people in your community.

Organise an enterprise event or activity
You can plan and run a one-time event or an ongoing activity. This could serve an economic, social, or cultural purpose. For instance, you might organise a fundraising concert for a local charity or set up a weekly market for local producers.

Step-by-step process for enterprise in action

Conducting research

1. Brainstorm your idea: Work as a group to generate ideas. Discuss which idea most team members support and decide what aspect each person will research (such as finance, market, pricing, or timing).

2. Research feasibility: Each group member must conduct their own research using both primary sources (like field visits, interviews, surveys) and secondary sources (such as online research, newspapers, magazines). Keep detailed records of all your sources.

Evaluating information 3. Assess your findings: Meet as a group to examine everyone's research and decide if your idea is realistic. Consider questions like:

• Should we modify our idea based on the research?
• Is there a market for this enterprise?
• What expenses will we need to cover?
• How will we generate income?

Developing action plans 4. Create a business plan: Develop a comprehensive plan that includes:

• Elements of the marketing mix (product, price, place, promotion)
• Financial information (such as pricing for your product or service)

5. Market your offering: Inform your target market about the product, service, or event. Set up displays and promotional materials where appropriate.

6. Track your progress: If you're selling something, keep careful records of all money coming in and going out.

Reporting findings 7. Compile your project: Create a final report (up to 1,500 words) that includes:

• An introduction to your project
• Evidence of each group member's research
• Your action plan based on research findings
• A conclusion and recommendations

Project option 2: Economics in action

This option allows you to explore current economic issues affecting Ireland. You'll investigate an economic trend, development, change, or policy that impacts Irish economy and society, either positively or negatively.

For example, you might examine the effects of remote working on Irish town centres, the impact of inflation on different groups of people, or how government housing policies affect young adults.

Step-by-step process for economics in action

Conducting research

1. Research your economic issue: Each group member must conduct individual research using various sources including field visits, interviews, surveys, online research, newspapers, and magazines. Keep detailed records of your sources.

Evaluating information
2. Assess benefits and costs: Work together to examine all research and evaluate your chosen economic issue. Consider key questions such as:

• What are the economic benefits and costs for different stakeholders?
• What are the social benefits and costs for different groups?
• What are the environmental benefits and costs for various stakeholders?

3. Use economic evidence: Support your findings with graphs, statistics, or economic indicators that strengthen your analysis.

Developing action plans 4. Propose policy changes: Outline potential economic policy changes that might improve the outcomes you've identified.

Reporting findings 5. Compile your project: Submit evidence of your work as one project per group. Choose the most relevant, reliable, and high-quality information to include as evidence.

Project option 3: Finance in action

This option focuses on real financial challenges facing individuals or organisations. You'll identify and research a financial difficulty experienced by a consumer or an organisation (either profit-making or not-for-profit).

Examples might include examining how rising energy costs affect family budgets, investigating how a local sports club manages its finances during difficult times, or exploring how students manage debt during college.

Step-by-step process for finance in action

Conducting research

1. Investigate a financial challenge: Each student must conduct individual research on your chosen financial issue using primary sources (field visits, interviews, surveys) and secondary sources (online research, newspapers, magazines). Document all your sources carefully.

Evaluating information 2. Analyse the financial situation: Work together to examine all research and assess the financial position of your chosen individual or organisation. Address questions such as:

• What causes the financial challenge?
• What economic costs affect different stakeholders?
• How is income or revenue impacted?
• How is expenditure affected?
• Is this a short-term, medium-term, or long-term issue?

3. Support your analysis: Use graphs, statistics, or financial accounts to strengthen your findings.

Developing action plans 4. Create solutions: Develop a practical action plan to address the financial challenge and improve the financial position. Support your recommendations with tables and graphs.

Reporting findings 5. Compile your project: Submit one project per group, selecting the most relevant, reliable, and high-quality information as evidence of your work.

Key requirements for all projects

Regardless of which option you choose, all CBA 1 projects must include these four areas of activity:

Remember!