Business teacher here so here is the flaming
....
There is a huge preconception that business is a soft subject mainly mn however if you actually look at the spec there is a lot more to it than meets the eye.
The subject content has a huge range from ownership types, legal, finance, HR, motivation, basic economics, marketing amongst other things which gives students a insight into the world of work and a taste of the different aspects to a business which every working adult will face at some point in their careers.
The skills needed to achieve a high grade are on a par with the traditional academic subjects, for example there is a lot of analysis and evaluation skills needed; especially in the controlled assessment.
Business Studies enables students to understand the real world that is happening now; gives them an insight into what they will be facing (no matter what career path they follow) in the future; gives them a taste of several different aspects to a business and is one of the most popular subjects studied at degree level in either its pure business form or as an specialised aspect.
But my main defence of my subject is that this is basic common education that every young adult needs to make sense of the world we live in, to make sense of the decision that are made at work, to try and make sense of the decisions made by governments, to understand the implications of these decisions etc - in fact it should be compulsory 
apologies for any rambling or incoherent sentences but been at pc working all night and can't get sleep