Y10 Business Studies Expectations Arrive to lessons punctually and prepared. Be responsible for...
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Transcript of Y10 Business Studies Expectations Arrive to lessons punctually and prepared. Be responsible for...
Y10 Business Studies Expectations Arrive to lessons punctually and prepared. Be responsible for making notes throughout
lessons. To play an active role in the lessons and
show a good effort at all times. Respect others in the class. Catch up any missed work if absent. Complete homework on time and to the best
of your ability. Most importantly, enjoy the subject!!
ENTERPRISE
LEARNING OBJECTIVES
Understand the importance of enterprise in BusinessAnalyse the role of the entrepreneur in business developmentEvaluate the reasons behind successful enterprise.
WHAT IS ENTERPRISE?
Enterprise is about taking risks, being creative and innovative and using your initiative (doing things without having to be asked or told).
Features in a person making them enterprising Risk-taking Determination Persuasive Ability to work with others Decision maker Judgement Confidence
ENTREPRENEUR
An entrepreneur is someone who organises factors of production (land, labour and capital) to produce goods and services. Entrepreneurs have to obtain money, buy the factors they need and make decisions. They take risks that the business idea might be very successful but also that it might not be the success they hoped it would be.
Rewards and drawbacks of risk-taking REWARDS Financial Independence Self-Satisfaction Changing consumer habits
DRAWBACKS Financial Health Strained relationships
Why businesses succeed or fail Planning Product Timing Experience External Factors
TASK
You have just seen the inspirational entrepreneur Levi Roots and a bit about his success.
Complete the activity to see if you can be the next budding entrepreneur!
Homework Create an informative poster about an
entrepreneur of your choice. Show some originality and choose somebody
that really interests and inspires you. One side of A4 only!! Homework must be handed in, e-mails will be
treated as incomplete homework. You may use the school IT facilities if
necessary.
Due in Thursday 12th September 2013
STARTING UP A BUSINESS
To start up any business you have to demonstrate enterprise and in setting up the business you will be an entrepreneur. You might start off with very big ideas about what the future holds for your business. It is a fact though that only half of new businesses starting up survive after three years. Clearly there is a huge risk involved.
Given the risk, why would people want to start up a business in the first place?
10 Reasons to Start A Business1. You are your own boss 2. You get to do what you’re interested in 3. Your firm = your deadlines 4. Get creative 5. It’s not that hard to do 6. It can be very profitable 7. It’s varied 8. You can have a second career 9. Cut the commute 10. The big dream really can become reality
HELP AVAILABLE FOR ENTERPRISE The Government and a number of other
organisations help provide help to develop new business enterprises.
Government help for enterprise Grants Advice
Other organisations The Prince’s Trust Enterprising women Shell LiveWire Business Enterprise Support (BES) National Federation of Enterprise (NFEA)
Help available for enterprise – Government Government grants are available
for a new business proposal (not existing business) if you can provide some of the finance yourself usually for small/medium sized enterprises (SME) but may depend on where the business will be usually for specific purposes does not have to be repaid if conditions are met
Government advice