Starter task  If you were going to set up your own business when you leave full time education, what would it be?  Stretch & Challenge: What would be the benefits of running your own business to working for someone else?  Discuss your thoughts with the person next to you Beauchamps High School

GCSE Business Studies Lesson 1 - What is a Business? Beauchamps High School

Will be able to evaluate reasons for setting up a business Evaluation ~ GCSE Grade A* Will be able to propose reasons for setting up a business Synthesis ~ GCSE Grade A Will be able to analyse what a business does Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the purpose of a business Comprehension ~ GCSE Grade D Will be able to recall key terms customer and consumers Knowledge ~ GCSE Grade E

Small Businesses Facts  Over 4 million businesses in UK  1 business for every 13 people in UK  33,000 businesses that employ more than 50 people  Almost all businesses are small businesses Beauchamps High School

Purpose of a business  In groups, answer the following questions:  Why do businesses exist?  Why do we need businesses? Beauchamps High School

Purpose of a business  Businesses exists to ……….  make goods and offer services  Goods: physical items  Services: non-physical products Beauchamps High School Theory Notes

Questions to ask about start-ups  Why set up your own business?  People want sense of achievement  Be own boss  Money! Beauchamps High School Theory Notes

Questions to ask about start-ups  Who will be successful entrepreneurs? Personal qualities/skills needed: determination, enthusiasm, hard-working, knowledge of topics, listen as well as speak, persuade, organise, manage Beauchamps High School Theory Notes

Against the Clock

Consumer vs Customer  Customer  someone who pays for goods or services  Consumer  person who uses goods or services Beauchamps High School Theory Notes

Task Beauchamps High School

Task  Worksheet - Look at the businesses, list what they do  Or use the business you researched/or know Beauchamps High School

Task  Feedback your answers Beauchamps High School

Homework – due lesson 3  Find out if you are able to get information on a small business  Family/friends run  Can be local Beauchamps High School

Will be able to evaluate reasons for setting up a business Evaluation ~ GCSE Grade A* Will be able to propose reasons for setting up a business Synthesis ~ GCSE Grade A Will be able to analyse what a business does Analysis ~ GCSE Grade B Will be able to demonstrate understanding by using examples/cases Application ~ GCSE Grade C Will be able to explain the purpose of a business Comprehension ~ GCSE Grade D Will be able to recall key terms customer and consumers Knowledge ~ GCSE Grade E

Plenary – Class discussion  What are your thoughts now on running your own business?  Stretch & Challenge: What are the drawbacks for you? Beauchamps High School