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S2 Core Business Goods and Services. Todays Learning Intention Identify what a Good and a Service is and recognise the difference between both Understand.

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Presentation on theme: "S2 Core Business Goods and Services. Todays Learning Intention Identify what a Good and a Service is and recognise the difference between both Understand."— Presentation transcript:

1 S2 Core Business Goods and Services

2 Todays Learning Intention Identify what a Good and a Service is and recognise the difference between both Understand what is meant by the terms Durable and Non-Durable

3 What is the purpose of a Business? A business exists in order to make money and to do this they must decide whether to sell goods, services or both to their customers.

4 Goods and Services SERVICE GOOD Tangible Is something you can see and touch which makes them… Is provided for you and you cannot necessarily see or touch it, which makes them… Intangible In pairs come up with 2 examples of a Good and 2 examples of a Service

5 Durable and Non-Durable These goods are long lasting NON-DURABLE DURABLE Goods can be durable or non-durable These goods only last for a short period of time In pairs come up with 2 examples of a durable good and 2 examples of a non- durable good

6 Now complete Activity 1 in your notes and tasks booklet Once finished, complete the extension activity

7 What do we now know...? The difference between a Good and a Service What Durable and Non-Durable means

8 S2 Core Business Needs and Wants

9 Todays Learning Intention Identifying the differences between Needs and Wants

10 Needs What do you REALLY need to survive...? With your partner, agree on 3 things you both think you need in order to survive.

11 Needs Wants are unlimited. Each person will have different wants which will change with time. For example: I-pad, Sports Car, Holidays Wants Needs are items which people cannot live without. These are: Food, Water, Shelter and Clothing

12 Now complete Activity 2 in your notes and tasks booklet Once finished, complete the extension activity

13 What do we now know...? The difference between a Need and a Want

14 S2 Core Business Entrepreneurs

15 Todays Learning Intention To highlight factors that make a business successful Understand what is meant by an Entrepreneur

16 An Entrepreneur = Someone who is a risk taker and has an idea to create a new product/service then turns it into a successful business. But how do they do this...?

17 What makes a Business successful? Enough money to start up the business- this is known as Capital The idea (Enterprise) from the entrepreneur Land/premises for setting up the business. Can also include natural resources used by the business A workforce ( Labour) to start-up the business

18 Now complete Activity 3 in your notes and tasks booklet

19 Entrepreneurs Can you think of any famous people who may be entrepreneurs...

20 Now complete Activity 4 & Activity 5 in your notes and tasks booklet Once finished complete the extension activity on page 11

21 What do we now know...? The factors that make a business successful What an Entrepreneur is

22 S2 Core Business Skills and Qualities

23 Todays Learning Intention To extend our knowledge on knowing what Skills and Qualities are

24 Last period we were speaking about entrepreneurs... What skills and qualities do you think Simon Cowell has, which have helped him become successful... Confident Creative Hard Working Determined Ambitious People Skills

25 Skill Something that we learn to do and become good at e.g. Riding a bike Quality A word used to describe a persons personality and characteristics e.g.

26 Now complete Activity 6 in your notes and task booklet Once finished complete the extension activity on page 13

27 What do we now know...? What is meant by a skill and examples of skills What is meant by a quality and examples of qualities

28 S2 Core Business Types of Businesses

29 Todays Learning Intention To extend our knowledge on knowing what different business types are

30 Private Sector This is the sector in which businesses are owned by individuals or groups of people. What aims may they have for their businesses… Aim A.K.A Goal, Target or Objective - something that a business hopes to achieve over a period of time.

31 Aims of a Private Sector Business To survive Maximise sales Maximise profit To grow Provide a good quality product/service

32 Private Sector Sole Trader Someone who starts up a business on their own is a sole trader. It is owned, controlled and financed by one person. Example: Partnership This is a business set up and run by 2 or more people. It is owned, controlled and financed by the partners. Between 2-20 people can be included in the partnership agreement. Example:

33 Now complete the following activities in your notes and tasks booklet: Activity 7 Activity 8 Activity 9

34 What do we now know…? What is meant by the Private Sector What the aims of businesses that are within this sector The difference between a Sole Trader and a Partnership


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