2.  This topic considers the skills needed to be enterprising. How does creative thinking develop a competitive advantage for a business? What questions do entrepreneurs ask. How can new business ideas come about and how can they be successfully brought to the market? Why do calculated risks have to be taken? How will planning, thinking ahead and making connections helps business to be successfully?

3.  What is enterprise?,  Thinking creatively,  What questions do entrepreneurs ask?  Invention and innovation - generating new business ideas.  Taking a calculated risk,  Other important enterprise skills

4.  Appreciate that enterprise involves taking risks, showing initiative, determination and a willingness to undertake new ventures  Understand the difference between providing goods or a service

5.  Entrepreneur – a person who owns and runs their business and takes risks.  Enterprises – another word for business  Enterprise – a willingness by an individual or business to take risks, show initiative and undertake new ventures.  Risk – the chance of damage or loss occurring as a result of making a business decision.  Venture - Start-up entity developed with the intent of profiting financially. A business venture may also be considered a small business. http://www.businessdictionary.com/definition/business- venture.html#ixzz266Vp308T http://www.businessdictionary.com/definition/business- venture.html#ixzz266Vp308T

6.  Starting up a business,  Thinking of a new service,  Bringing new ideas to the market.  What skills do you need?

7. Enterprise Skills Willingness to undertake new ventures Risk taking Showing Initiative

8.  Being enterprising has an element of risk. There are so many things that can go wrong when setting up a business. For example, damage to yourself, factors that may affect profit or other factors which may mean you do not make the profit you expect.

9.  Being Enterprising involves showing initiative.  Initiative means making the first move and making things happen.  Thinking for yourself!

10.  A willingness to undertake a new venture is part of being enterprising, it may be risky!  A new venture may be a new business, a new product or service.

11.  BBC Bitesize  http://www.bbc.co.uk/schools/gcsebitesize/b usiness/aims/publicsectorrev1.shtml http://www.bbc.co.uk/schools/gcsebitesize/b usiness/aims/publicsectorrev1.shtml  Task – Create a Poster  The poster should be titled: ‘The Qualities of an Entrepreneur’. It should contain:  An explanation of what an entrepreneur is, and the qualities needed to be entrepreneurial  A case study of a famous (or not-so-famous...you choose) entrepreneur  An explanation of the qualities of this entrepreneur that you think have helped him / her to be successful

12.  Over 70% of all the economic activity in the UK is classified as service. This includes health care, rubbish collection, shops, banks, fast food restaurants and tourism.  A service is providing something for the customer, eg food, haircut, or healthcare.  A good is providing something for the consumer/customer that they can touch, feel

15.  Homework sheet – overtoyou Enterprise

16.  Discuss for 15 minutes please  Then…..  Products to sell  Name,  Job roles and who will do what,  Advertise  Create a catalogue

17.  Aims – To see what it is like to set up a business  Objectives – to make a profit, provide customer service, & to help understand how and what it takes to set up a business.  By the end of this week we need to have the business ‘Up and Running’, MD, Finance, Orders, Catalogue,  What departments/areas, co-ordinated

18.  Order only – don’t want to have to layout cash and have products left.  Advertising, Bulletin, Hours,  By end of lesson – You need to have a working plan! (for me)

19.  What has gone well?  What stage are you up to?  What do we need to do to get things moving faster?  When can we be ready to start the business(es) selling stuff?

20.  When will the business start to trade?  How will people know? Advertising, bulletin  Where are you going to be based, sell from?  When will you sell? Do you have an order form? How will people pay?  Who is looking after the finances? Income vs Expenses in a spreadsheet  Have you covered the market? Is there anything else?  Can you put this into a word document so it is ‘official’

21. Unit 8

22.  Understand that having creative ideas is a key aspect to setting up a new business and developing competitive advantage.  Appreciate that sometimes new business ideas come about through lateral thinking.  Understand the role of deliberate creativity in developing new business ideas.

23.  Thinking Creatively – creative thinking – coming up with new and unique ideas,  Competitive advantage – and advantage so the business can out perform competitors,  Deliberate creativity – the intentional creation of new ideas through accepted techniques  Lateral thinking – thinking differently to generate new ideas,  Blue skies thinking/6 thinking hats – techniques of creative thinking.

24.  Many new businesses are not based on creative thinking, they bare based on a ‘Me Too’ approach – like franchises.  Thinking creatively means coming up with an idea that is unique and did not exist before.  Developing a unique idea can give a business a competitive advantage. Having competitive advantage means that the business is better in at least one way than any other business with which it is in direct competition.

25.  Have a better product than the other business,  Have a better method of production which results in lower costs or better quality,  Give better customer service,  Come up with a product or service that is unique,  Use some technology or technique that makes you product unique.

27. 1. Deliberate Creativity – using a range of techniques to stimulate thinking, by going through different thought processes new ideas emerge. 2. Lateral thinking – thinking of ideas that people would not come up with during their normal day, creating new unexpected ideas, these include 1.Blue skies thinking 2.6 thinking hats

29. http://www.debonoforschools.com/asp/six_hats.asp

30. Classroom Activity – Deliberate Creativity Most breakthroughs such as the iPod come from careful analysis of a product/service available currently, then thinking, how could it be different? On September 1 st 2008 Edexcel (exam board) decided to remove all waste paper bins from its 8-storey building. An employee had pressed for a new approach: bin the bins and instead have recycling stations on every floor: for paper, cardboard, plastics and confidential material. That ’ s pretty creative. In this activity, your task is to think about bags of Maltesers. Then brainstorm its exact features, down to the last possible detail (at this stage, just describe the features; identifying strengths and weaknesses can come later). For example a packet of Maltesers: Comes in a small plastic bag Bag is flimsy, so you can see and feel the shape of the sweets Bag is red, with pictures of the contents A malteser is an airy honeycombey, melty, malty ball, covered in chocolate All the contents are covered in the same chocolate (white or milk) There are about 18 Maltesers in a small pack A small pack weighs 37gm Each Malteser is big enough to hold and eat individually, in one go The chocolate covering the Malteser is very milky and sweet Maltesers also come in larger plastic bags and also in larger boxes Tasks 1. What other points do you think you could add to this list about Maltesers? 2. Decide on one of the points that you think gives real scope for an improved product, e.g. ‘ Big enough to hold and eat individually in one go ’ 3. In silence, each person in the group should come up with at least 4 ways to do this differently, e.g. mini-Maltesers, the size of Smarties 4. Then the group should pool ideas, eventually agreeing on the single best idea for creating a successful new chocolate product.

31. 1What is meant by the term ‘deliberate creativity’? 2 What is meant by the term ‘lateral thinking’? 3Natalie found that leaflets advertising her pottery business did not bring in much business so she contacted local cafes to suggest that she could provide them with free bowls, cups and plates if they would tell people about her business. Why might this be an example of lateral thinking? 4 What is a meant by the term ‘blue skies thinking’? 5List five features that might be written down when using blue skies thinking about a new style of jeans. 6List the Six Thinking Hats. 7Colm wants to set up a children’s party business in a seaside town where there are lots of older people. How could black hat thinking help him? 8 What is meant by the term ‘competitive advantage’? 9State four ways in which a restaurant business could have a competitive advantage over a competitor. 10State two features of a village shop that might give it a competitive advantage over a national supermarket located on an out of town trading estate.

32.  Overtou Thinking creatively

33. Section 9

34.  Rachel Owens has worked as a sales manager for the past 10 years for a car hire company. Her salary is reasonable but Rachel finds the work boring. For the past 6 months she has been thinking of setting up hew own business making traditional sweets, biscuits and cakes. What questions should she ask herself as she explores and researches this change in her working life?

35.  Appreciate the important questions to ask when coming up with new business ideas such as ‘Why?’, ‘Why not?’ and ‘What if?’.  Understanding the concept of looking beyond the obvious, asking ‘What if?’ and judging the value of the outcomes

36.  It is vitally important that future entrepreneurs ask themselves questions.  Questions allow them to sort out issues and explore alternatives, It helps them to see what should stay the same and what should change. Questions like ‘Why?’ ‘What if?’ and ‘Why not?’ are very important.

37.  One important question is ‘WHY?’  Why make the change?  Case study – in the case study the question why make the change should be asked. The answer is that ‘Rachel want to make the change because she want a new challenge and is bored with her current job.

38.  ‘Why not’? – questions challenge the reason not to do something.  Case study – why should Rachel NOT set up her own business? Are there businesses that would be better suited?

39.  What questions are important in setting up and running a business. What do you want to do? What do you want to make.

40.  Where will I... Make the product  What will the location be?  What type of product will I make?  How?  Where?  When?  Who for?  How will I...?

43.  The decision then has to be made about whether to go ahead or not? Read on for the case study results.

44. Ivor Khestikov has completed his engineering degree and has decided to set up his own business.  1State one reason why he might not want to consider setting up as a butcher.  2State one reason why he might want to open up his own amusement arcade.  3State four resources he would need when operating an amusement arcade.  4State one location that would be a good place to set up an amusement arcade.  5State three ways in which he could attract customers to his business.  6When might be the best time for him to open his business? Explain your answer.  7List four ‘what-if’ questions that Ivor could ask.  8State two reasons why Ivor could be successful.  9State two reasons why Ivor’s business might fail.  10Explain two ways in which Ivor could minimise his risks.

45.  Why do we ask questions before we just start up a business?  Home work ◦ Overtou questions to be asked

46. Extra section

47.  To understand why entrepreneurs want to set up a business.

48.  What are the main reasons for anyone wanting to set up in Business?  Produce a ‘mindmap’ showing as many reasons as you think.  After that……  Why would you start a business?  Write me a short paragraph about the reasons you would want to set up your own business, explain the reasons why.

49. Why set up in Business? Survival To help others Status Employ people Satisfaction Profit Independence Control

50.  Why would you start a business?  Write me a short paragraph about the reasons you would want to set up your own business, explain the reasons why.  Once you have printed the two out you have the last 10mins to make sure you are ready to sell things for the enterprise tomorrow! (this was iPad day I think!)