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Year 10 Business

Year 10 Business. Monday 4 th November 2013 Mr Nicholls. Objectives:. To understand the difference between a good and a service. To understand how mind maps can be used by entrepreneurs to spot opportunities. Welcome back….

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Year 10 Business

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  1. Year 10 Business Monday 4th November 2013 Mr Nicholls

  2. Objectives: • To understand the difference between a good and a service. • To understand how mind maps can be used by entrepreneurs to spot opportunities.

  3. Welcome back… • Hopefully you all had a relaxing and rejuvenating half term – now we’re back for 7 weeks until Christmas – so we need to crack on! • Firstly today….some results…

  4. Results – Selling Activity Team 2 prize to be given this week! Well done to both teams – however – Team 2 took the win this time with a massive profit of £65.71!!

  5. A recap… • The term “enterprise” has two common meanings. • Firstly, an enterprise is simply another name for a business.  You will often come across the use of the word when reading about start-ups and other businesses…“Simon Cowell’s enterprise” or “Michelle set up her successful enterprise after leaving teaching”. • Secondly, and perhaps more importantly, the word enterprise describes the actions of someone who shows some initiative by taking a risk by setting up, investing in and running a business. 

  6. Today… • the difference between a good and a service. • how mind maps can be used by entrepreneurs to spot opportunities. • At the end of the session I’ll be asking you to take your books away with you to revise – you’re going to be tested on what we’ve covered so far this term next week – so you’ll need to make sure you’re ready!

  7. the difference between a good and a service • A service is an intangible act while goods are physical. Services are often jobs or work that contribute to an overall goal. • Therefore – see what GOODS and SERVICES you can note down in your books – make sure you’re clear about the difference as above!

  8. How an entrepreneur will use a mind map… • Simple – what is a mind map? • How might you use a mind map to help you consider an idea in more depth? • Let’s see what we can come up with…

  9. Your mind map… • You need to start a clean page in your books and create a mind map for: Why someone might choose to set up a business • Make sure you fully consider ALL of the reasons why a person might choose to set up a business – note the word MIGHT!

  10. What did we come up with?

  11. Homework • You need to take your books home with you in order to revise – next week we’ll be doing a recap test on what we’ve covered so far this term – so you should familiarise yourself on: • What a business does. • Why customer needs are important to a business. • Customer types. • Competitors • Adding Value • Advantages and Disadvantages of a Franchise

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