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GCSE Business Studies Unit 1 Introduction To Small Businesses. GCSE Business Studies . 1.2 Showing Enterprise. Unit 1 Introduction to Small Businesses. GCSE Business Studies Unit 1 Introduction To Small Businesses. Enterprise. Objectives and Outcomes.

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gcse business studies

GCSE Business Studies Unit 1 Introduction To Small Businesses

GCSE Business Studies

1.2 Showing Enterprise

Unit 1

Introduction to Small Businesses

objectives and outcomes

GCSE Business Studies Unit 1 Introduction To Small Businesses

Enterprise

Objectives and Outcomes
  • Understand the principle of taking a calculated risk
  • Understand the importance of weighing up the risks and the rewards of a new business idea
  • Appreciate that seeing mistakes is part of the process of learning to succeed

ALL students will attempt the risk analysis

MOST students will complete the risk analysis

SOME students will complete the extension exercise

taking risks in business
Taking Risks in business
  • Running a business is risky. Even large businesses take risks that don’t always pay off.
  • Some well known businesses have gone in to administration over the last few years..
    • Comet
    • Optical Express
    • JJB Sports
    • Woolworths
  • When a company is losing money and facing threats from a creditors – it can be ‘rescued’ by being placed in administration. The courts protect it by stopping all legal actions for a set time period.
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Would you buy these shares?

What actually happened!

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Would you buy these shares?

What actually happened!

are you a risk taker
Are you a risk taker?
  • Complete the quiz in your booklet.
  • Add up the total number of As Bs and Cs at the bottom

Mostly A: You're obviously not the adventurous type! Take a risk occasionally, 'Nothing ventured, nothing gained!'

Mostly B: You're not daredevil, but you're willing to take risks. You motto is probably 'Look before you leap'.

Mostly C: No-one thinks you are boring! But be careful; you will get into trouble if you don’t control your reckless impulses.

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Taking risks is all about weighing up the potential rewards against the potential riskComplete the table in your booklet. Make sure that you fully explore the risks and rewards before making your decision.

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Explain which risk you would take, and why

  • There is a 50% chance that he would lose over 10% of his customers if he put up his prices by a half
  • There is a 10% chance that he would lose over 10% of his customers if her put up his prices by an 8th.