UNIT 1: ENTERPRISE IN THE BUSINESS WORLD

LEARNING OBJECTIVES

Explain – How to find information about different business and what’s happening to them.

Research – what is currently happening to businesses?

STARTER

What do we know about Business?

In Pairs, in your notebooks, brain storm everything you know about the businesses around you and the business world in general.

5 Mins

WORDS WE HAVEN’T HEARD

Please use the Sheet provided and complete!

CLASS DISCUSSION

How can we find out information about what is going on in the business world?

In your Notebooks, please write a paragraph about how we can find information out about Business and the Business World.

ADVANTAGES AND DISADVANTAGES OF DIFFERENT TYPES OF

INFORMATION.

What are the advantages and disadvantages of all the different types of information?

Create and complete a Table in Word as follows:

Type of Information Advantages DisadvantagesDirect ContactInternetPapersMagazinesTV + RadioBooks

RESEARCH ACTIVITY 1

On your own, using the internet, please find a news article about something that is happening to a LOCAL business.

http://www.thisiskent.co.uk/news

READ IT FULLY!

Then in your books, summarize the 4 key points from the article.

RESEARCH ACTIVITY 2 On your own, using the internet, please find a news

article about something that is happening to a National business.

http://www.bbc.co.uk/

READ IT FULLY!

Then in your books, summarize the 4 key points from the article.

UNIT 1: ENTERPRISE IN THE BUSINESS WORLD

Who am I?Can you work out who these famous entrepreneurs are?

A GALA LORD RUNSCRAB DRAINS HORNBEHEADED ROMAN

1.1 ENTERPRISE IN THE BUSINESS WORLD

WHAT IS A BUSINESS?

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You have 30 seconds to write down as many businesses as you can think of starting from NOW!

1.1 ENTERPRISE IN THE BUSINESS WORLD

What is a business?Why do they exist?Who owns them?

What do the businesses you thought of have in common?

WHAT DO BUSINESSES DO?

Produce goods

Sell products direct to customers

Provide a service

Help others

Meet the needs of society

1.1 ENTERPRISE IN THE WORLD OF BUSINESS

To make a profit

Not for profit / social enterprises

Add an example of each of the above from the local area

YOU AND THE BUSINESS WORLD

Think about your actions today

What businesses provided YOUR food and drink?

clothes?

equipment

Have you used any services?

Have you seen any advertisements?

What businesses did you pass on the way to school?

What businesses have sold goods or services to schools?

Write the answers to these questions in your books and discuss with your neighbour.

1.1 ENTERPRISE IN THE WORLD OF BUSINESS

SIZE AND TYPE OF BUSINESS

Businesses are all different sizes from 1 person working on their own in a local area to businesses employing millions of people and operating all over the world.

Business size can be classified as:

Micro

Small and Medium Enterprises Small

Medium

Large

1.1 ENTERPRISE IN THE BUSINESS WORLD

Research how many staff in each type of

business?

Can you identify some local examples of each type of business?

BUSINESS OWNERSHIP

Sole trader

Partnership

Private limited company (Ltd)

Public limited company (Plc)

1.1 ENTERPRISE IN THE BUSINESS WORLD

You will learn more about these later.

What does the word diverse mean?

Extension:Supporting new business start-ups

A Barclays case studyRead more:

START-UP BUSINESSES

What is a start-up business?

Did you know?

1 in 3 start-ups fail in the first 3 years

2 in 3 start-ups are successful in first 3 years

1.1 ENTERPRISE IN THE BUSINESS WORLD

UP-TO-DATE CHALLENGE

Using the internet and your own knowledge, research the following:

What new businesses have opened in the local area?

What businesses have closed in the local area?

How would you classify these businesses in terms of size?

What are the factors contributing towards success or failure?...

1.1 ENTERPRISE IN THE BUSINESS WORLD

KEEP YOUR EYES OPEN

1.1 ENTERPRISE IN THE BUSINESS WORLD

WHAT DO ALL THESE HAVE IN COMMON?

1.1 ENTERPRISE IN THE BUSINESS WORLD

WHAT AFFECTS BUSINESSES TODAY?

Money

Time of year

Government

Laws

Location

1.1 STARTING A BUSINESS ENTERPRISE

STARTER

Write a definition of RECESSION in your note books.

Explain 2 ways it can impact on a start-up business.

1.1 STARTING A BUSINESS ENTERPRISE

IN PAIRS...

Read each others’ Poster for P1 and check you have each explained the following and what it means for a start-up business.

Money (recession)

Time of year

Government

Laws

Location

Demand

1.1 STARTING A BUSINESS ENTERPRISE

P1 + M1 – COURSEWORK TASK

You must make a poster that outlines how the business environment can impact on a start-up business. (P1)

E.g. Money affects business because if they have` money and make profit, then they will do well. We are in a recession and currently people do not have a lot of money so some businesses are not doing well and may close e.g. Clinton Cards.

Write a word document that that explains in more detail about how all these issues can affect a business trying to start up. You should then expand the points you have put on your poster by writing about them in more detail in a leaflet that explains how changes in the current business environment are likely to impact on a start-up business. (M1)

1.1 STARTING A BUSINESS ENTERPRISE

HOW TO COMPLETE M1

Use the following headings to write in detail about how these factors can impact on Businesses in today’s world:

Government support for business

taxation

the economy, e.g. level of employment, inflation, exchange rates, cost of loans.

location of business

What they need to start e.g. premises, staff, equipment, location of suppliers, competitors and customers.

You must say what each factor is, then explain what it can do for businesses both good and bad.

1.1 STARTING A BUSINESS ENTERPRISE