1.1   enterprise and entrepreneurs - moodle
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AS Business Resource

AS Business Resource

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  • Motto sort task – in pairsConsider – Vision, Attention, Focus
  • Students identify the essential skills – write on Post-it notes. Review other skills as identified on P4 in the textbook.
  • Risks – Lack of experience, lack of customers, competitionRewards – Profit, money, job satisfactionOpportunity cost – Could work for a large organisation (TESCO)

1.1 enterprise and entrepreneurs - moodle Presentation Transcript

  • 1. Welcome to Business Studies at
  • 2. Discussing Enterprise and Entrepreneurs Module 1 – Growing a Business Idea
  • 3. Do Now – Company Mottos Match the motto to the company. Which motto you like best and why. Discuss and decide upon three reasons for the use of a motto.
  • 4. Learning ObjectivesBy the end of this lesson you should be able to:1. Understand the main features and expectations of the course.2. Identify and explain the terms enterprise and entrepreneur3. Understand the importance of risk, reward and opportunity cost in starting a business.4. Use examples to illustrate your understanding of enterprise and entrepreneur.
  • 5. The Business Studies ProgrammeLO1) Understand the main features and expectations of the course.
  • 6. What assessments to expect? Year 12 (AS Level) Business Modules Module Module Title Assessment Number Students will need to plan, prepare and deliver a business plan and pitch. This activity will be peer 1 Growing a buisness idea assessed and will take place during Session 6 (Formative Assessment). Students will need to assess a business idea to see that it is viable. This activity will be peer assessed and monitored by the teacher. The assessment will take place during Session 7 2 What do you need to grow a business? (Formative Assessment). AS Mock Examination (Summative Assessment) 3 Will the new buisness survive? During this module students are due to take their 1st AS examination. This is due to take place on Wednesday, 11th January 2012. Students will produce a magazine article that is based on Highlighting the importance of good cash flow management. This task will be self assessed and take place during Session 7 (Summative 4 Exam preparation/ Business finance Assessment) Students will produce a marketing proposal for a niche product or service aimed at 16-25 year olds. People in buisness/ Marketing and the This is an independent task and will be assessed by the teacher. This will take place during 5 competative environment (Part 1) Session 6 (Summative Assessment). In teams, students are to required to set up, run and manange a production line. Assessment will Marketing and the competative environment be based on the groups ability to work together and produce a high volume of products to a high 6 (Part 2)/ Operations management (Part 1) standard. This will take place during Session 8 (Formative Assessment). Operations management (Part 2)/ Exam 7 Preparation AS Mock Examination (Summative Assessment) During this module students are due to take their final AS examination. This is due to take place on 8 Revision Monday, 21st May 2012. 9 Start of Y13 (A2 Level) Business Under constructionLO1) Understand the main features and expectations of the course.
  • 7. Personal Expectations Write down three personal expectations for studying AS Level Business. 1. What do you expect to learn? 2. What do you want to achieve? 3. How do you want this course to help you?LO1) Understand the main features and expectations of the course.
  • 8. What is meant by enterprise and entrepreneur? Think of a definition or description. Pair and discuss your ideas. Share and discuss your team’s ideas.LO2) Identify and explain the terms enterprise and entrepreneur
  • 9. What is meant by enterprise and entrepreneur? Enterprise - The ability to handle uncertainty and deal effectively with change Entrepreneur – Someone who starts and runs a business and takes responsibility for the risks involved.LO2) Identify and explain what is meant by enterprise and entrepreneur
  • 10. Essential skills and personal qualities of the entrepreneur
  • 11. Risk, reward and opportunity cost Risk – Key characteristic of an entrepreneur, often using their own money. Reward – Most likely to be financial, also includes job satisfaction and meeting customer needs. Opportunity Cost – This is expressed in terms of the next best alternative, which is given up when making a choice. For example, what could an entrepreneur do with their time, expertise and money if they didn’t start a business?LO3) Understand the importance of risk, reward and opportunity cost in starting a business.
  • 12. Risk, reward and opportunity cost Discussion Setting up a small newsagents in Shepherds Bush: What are the risks? What are the rewards? What is the opportunity cost?LO3) Understand the importance of risk, reward and opportunity cost in starting a business.
  • 13. Some examples of entrepreneurs Alan Sugar Michelle Mone Theo Paphitis Victoria Beckham Stelios Haji-ioannou
  • 14. YOUR 1) Research an entrepreneur of your choice 2) Begin piecing together a profile for your entrepreneur: How did they start What they do now Personal characteristics Strengths/ weaknesses Any interesting/ key facts Opportunity cost? 3) Produce and perform a presentation for the rest of your groupLO4) Use examples to illustrate your understanding of enterprise and entrepreneur.
  • 15. Catch….What did you learntoday?
  • 16. Re-cap Learning ObjectivesYou should now be able to :1. Understand the main features and expectations of the course.2. Identify and explain the terms enterprise and entrepreneur3. Understand the importance of risk, reward and opportunity cost in starting a business.4. Use examples to illustrate your understanding of enterprise and entrepreneur.