U NIT 1: E NTERPRISE IN THE BUSINESS WORLD

L EARNING O BJECTIVES  Explain – How to find information about different business and what’s happening to them.  Research – what is currently happening to businesses?

S TARTER  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

W ORDS WE HAVEN ’ T H EARD  Please use the Sheet provided and complete!

C LASS D ISCUSSION  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.

A DVANTAGES AND D ISADVANTAGES 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 InformationAdvantagesDisadvantages Direct Contact Internet Papers Magazines TV + Radio Books

R ESEARCH ACTIVITY 1  On your own, using the internet, please find a news article about something that is happening to a LOCAL business.   READ IT FULLY!  Then in your books, summarize the 4 key points from the article.

R ESEARCH ACTIVITY 2  On your own, using the internet, please find a news article about something that is happening to a National business.   READ IT FULLY!  Then in your books, summarize the 4 key points from the article.

U NIT 1: E NTERPRISE IN THE BUSINESS WORLD Who am I? Can you work out who these famous entrepreneurs are? A GALA LORD RUNS CRAB DRAINS HORN BEHEADED ROMAN 1.1 E NTERPRISE IN THE BUSINESS WORLD

W HAT IS A BUSINESS ? End You have 30 seconds to write down as many businesses as you can think of starting from NOW! 1.1 E NTERPRISE IN THE B USINESS W ORLD What is a business? Why do they exist? Who owns them? What do the businesses you thought of have in common?

W HAT DO BUSINESSES D O ?  Produce goods  Sell products direct to customers  Provide a service  Help others  Meet the needs of society 1.1 E NTERPRISE 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

Y OU 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 E NTERPRISE IN THE WORLD OF BUSINESS

S IZE 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 E NTERPRISE IN THE B USINESS WORLD Research how many staff in each type of business? Can you identify some local examples of each type of business?

B USINESS O WNERSHIP  Sole trader  Partnership  Private limited company (Ltd)  Public limited company (Plc) 1.1 E NTERPRISE IN THE B USINESS W ORLD You will learn more about these later. What does the word diverse mean?

Extension: Supporting new business start-ups A Barclays case study Read more: S TART - 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 E NTERPRISE IN THE BUSINESS WORLD

U P - TO - DATE C HALLENGE  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? E NTERPRISE IN THE BUSINESS WORLD

K EEP YOUR EYES OPEN 1.1 E NTERPRISE IN THE BUSINESS WORLD

W HAT DO ALL THESE HAVE IN COMMON ? 1.1 E NTERPRISE IN THE BUSINESS WORLD

W HAT AFFECTS BUSINESSES TODAY ?  Money  Time of year  Government  Laws  Location 1.1 S TARTING A B USINESS E NTERPRISE

S TARTER  Write a definition of RECESSION in your note books.  Explain 2 ways it can impact on a start-up business. 1.1 S TARTING A B USINESS E NTERPRISE

I N P AIRS...  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 S TARTING A B USINESS E NTERPRISE

P1 + M1 – C OURSEWORK 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 S TARTING A B USINESS E NTERPRISE

H OW 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 S TARTING A B USINESS E NTERPRISE