| Work Related Learning and Enterprise Education - the context for financial capability at Key Stage 4
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Since September 2004, Work Related Learning has been a statutory requirement for all Key Stage 4 students. QCA's Framework for Work Related Learning (2004), to which schools must pay regard, provides guidance to enable the fulfilment of these statutory requirements. The Framework encourages provision which gives students the opportunity to recognise, develop and apply skills for enterprise and employability.
This includes using their experience of work: work experience and part time jobs. They should learn about the way business enterprises operate and rights and responsibilities in the work place. This knowledge should be developed with reference to local and national opportunities relating to the students' own abilities and career aspirations, enabling them to make informed choices. All of this should be backed up with direct contact with the world of work.
Enterprise Education is a key outcome from good Work Related Learning. It is comprised of three strands: enterprise capability, supported by financial capability and economic and business understanding.
- Enterprise capability is the ability to handle uncertainty and respond positively to change, to create and implement new ideas and ways of doing things, to make reasonable risk/reward assessments and act on them in one's personal and working life.
- Financial capability is the ability to manage one's own finances and to become a questioning and informed consumer of financial services.
- Business and economic understanding is the ability to understand the business context and make informed choices between the alternative uses of scarce resources.
How do I teach financial capability within enterprise education?
Use the selection of resources and tools below to help you teach the financial capability aspect of enterprise education.
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| Free resources from pfeg |
Mapping matrix and teaching resources |
pfeg case studies relating to enterprise |
- Risk and Reward - free CD ROM.
pfeg have produced an interactive CD ROM which supports the development of financial capability in enterprise education - click here for more information, or order your free copy by contacting pfeg on info@pfeg.org or 020 7330 9470.
- Enterprise Good Practice Guide - downloadable resource. pfeg have produced this enterprise Good Practice Guide which aims to support teachers in teaching financial capability within enterprise education. This resource can be downloaded from this website.
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- Mapping matrix for Work Related Learning and financial capability
pfeg have produced a tool which illustrates how the QCA Framework for Work Related Learning and the DfES Financial Capability Guidance are inter-related, showing how financial capability supports and reinforces the requirements of Work Related Learning and enterprise education.
- Resource listing
Click the link above for a list of resources suggested to help students to develop financial capability within enterprise education.
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