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BUSINESS STUDIES

BUSINESS STUDIES. Yr11 Preliminary. CREDITS. Presentation Magazine – PPT Template www.presentationmagazine.com. Topic: Nature of Business >> Chapter 1 ROLE OF BUSINESS. …pg 12. SESSION 1. What you have signed up for Prep survey Role of business in Australia.

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BUSINESS STUDIES

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  1. BUSINESS STUDIES Yr11 Preliminary

  2. CREDITS • Presentation Magazine – PPT Template www.presentationmagazine.com

  3. Topic: Nature of Business>>Chapter 1ROLE OF BUSINESS …pg 12

  4. SESSION 1 • What you have signed up for • Prep survey • Role of business in Australia

  5. What have you got yourself into! C L A S S How I teach: ommitment anguage ttitude upport erendipitous

  6. Q&A Any questions?

  7. Plan of study • Nature of Business • Business Management • Business and Planning

  8. Survey A survey to understand your expectations and set some goals. ‘post-it notes’

  9. RATE YOURSELF ON THE FOLLOWING SCALE My ability to learn My motivation to learn 1 / 2 / 3 / 4 / 5 1 / 2 / 3 / 4 / 5 Outline why you gave yourself that score

  10. Reading your SYLLABUS Students learn about: The Role of business • The nature of a business • producing goods and services • profit, employment, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life

  11. Reading your SYLLABUS Students learn to: Examine contemporary business issues to: • discuss the global expansion of one Australian business • discuss the expansion into Australia of one global business • distinguish between the different types of businesses

  12. Take-away • Logic List • What is the purpose of business?

  13. LOGIC LIST

  14. The Role of Business/Nature of Business For what reasons could businesses exist? (Identify 5 possibilities) 1. Produce goods and services 2. Make a profit for its owners 3. Provide employment opportunities 4. Create and support an economy 5. Provide for the needs and wants of consumers

  15. Role of business and the economy Magazine and newspaper articles are going to a valuable resource. Use the article “The Australian Economy” and outlinethe benefits businesses provide the Australian economy.

  16. Re:VIEW • Why is the Syllabus important? • Name the first syllabus dot point we need to memorise. • Summarise the role of business.

  17. H/W • Read the HSC study guide article and identify a habit or tool you will be using to enable yourself to succeed in this (and other) courses.

  18. SESSION 2 • Weekly Time Map • Re:CAP • Logic List • Business Activities

  19. Scope and sequence Hand out

  20. Time Map Review an example Create your own time map.

  21. Re:CAP • Recall three terms from the logic list. • Identify two reasons businesses contribute to the Australian economy. • Differentiate between a good and a service.

  22. H/W “Outlinethe benefits businesses provide the Australian economy.”

  23. NEED: Something we must have to survive WANT: Something we don’t need but makes life more enjoyable GOODS: A physical product – something that can be seen and touched SERVICE: An intangible product – things done for you by others

  24. CONSUMER: Someone who purchases a good or service Consumer choice….. PROFIT: a financial gain, the amount earned above expenses INCOME: money received, especially on a regular basis, for work or through investments PRODUCT: an article or substance that is manufactured or refined and provided for sale

  25. The Role of Business/Nature of Business Lets focus on #1 1. Produce goods and services 2. Make a profit for its owners 3. Provide employment opportunities 4. Create and support an economy 5. Provide for the needs and wants of consumers

  26. Differences in producing goods and services List two businesses you know of in the same industry. Identify, as dot points, the differences between those businesses. Consider the Goods and Services they offer. List as many as possible. In your list highlight or underline the Goods in one colour and the Services in Another.

  27. Differences in producing goods and services • Discuss how and why these businesses differ. • List or mindmap • “Factors that influence the Good and/or Service a business produces” • Can a Good also be a Service? • iTunes music • Mobile phones/Calling people

  28. SESSION 3 • Re:CAP • Research task • Logic list memory game

  29. Answer the following questions (You can start with dot points, but then construct a paragraph): • Statethe difference between a good and a service. • Describe why producing Goods and Services is the most important role of a business.

  30. Reading your SYLLABUS Students learn about: The Role of business • The nature of a business • producing goods and services • profit, employment, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life

  31. The role of business As part of the businesses operations they also contribute to society and the economy in a number of ways. These include: • P • E • I ….. • C • I • E • W • rofit • mployment • ncomes • hoice • nnovation • ntrepreneurship and risk • ealth and quality of life • “PEI - CIEW” • Can you come up with a better acronym?

  32. Title: ECONOMIC AND SOCIAL IMPORTANCE OF BUSINESS

  33. Importance of Business on the Economy & Society

  34. PROFIT: Sales revenue – Operating expenses = Profit • Revenue is the amount of money that comes into a business from the sale of its products. • Revenue = Price x Quantity Expensesare all the costs involved in operating the business, from manufacturing products to selling them.

  35. EMPLOYMENT: Businesses provide the finances consumers need to purchase products. SME’s employ the most staff out of all private businesses. INCOME: Wage and Salaries are given to employees.Dividends are given to shareholders. Salary: Fixed amount of money paid on a regular basisWage: Money received by workers for services they provide

  36. CHOICE: Consumers have the opportunity to choose a variety of products from different suppliers. Consumers can ‘shop around’ for the best deal INNOVATION: Invention or Innovation (New or Improved product).R&D is a process for achieving this.

  37. ENTREPRENEURSHIP: The quality of an Entrepreneur who is someone that is willing to generate a unique business idea and face the risks involved in order to start the business. Risk: Running a business involves the risk of failure – this results in lose of income, finance, and employment

  38. WEALTH CREATION: The impact of a businesses profits to the economy and society – outflow of money from the business. (Employees, Government, Business savings, Dividends, loan repayments) QUALITY OF LIFE: The overall wellbeing of an individual. How well we fulfill our personal desires for a ‘quality life’.

  39. LOGIC LIST Look familiar?

  40. Activity • We want to remember these key terms and what they mean so either… • Draw a town/city from a ‘birds eye view’ and use images/pics to represent points on the diagram below • Write a song or poem to capture the main points • + include “Entrepreneurship and Risk”

  41. Closer • Select three of the following words and write a paragraph that utilises the words in their correct context and business definitions: • Profit • Employment • Income • Innovation • Choice • Entrepreneurship & Risk • Wealth & Quality of Life

  42. H/W • Join a FB group, a blog, or weekly newsletter related to business studies. • Gather one article that talks about Small Businesses, or a small businessArticle Sources: • SMH: • The Age: • The Drum: • BRW: • The economist: • Harvard Business Review (HBR): • Read the article and write a summary of the key points from the article. This is not just dot points, it is complete sentences.

  43. SESSION 4 • Re:CAP • Thursday Newsday (Using homework from last lesson) • Business activities

  44. Re:CAP • Describethe Role of business in Australia.(Try and include an example of a business you know to support your answer)

  45. So far have we… …learn about: The Role of business • The nature of a business • producing goods and services • profit, employment, incomes, choice, innovation, entrepreneurship and risk, wealth and quality of life

  46. DAY THURSDAY

  47. Importance of Business on the Economy & Society How does a business operate to ensure it can provide these things?

  48. Business Activities Organising resources: Organising and coordinating resources (Natural, Capital, & Human) in order to operate the business in a way that is efficient and effective. Financial activities: Planning and forecasting finances. Monitoring money coming in and going out of a business, while also planning for future financial goals and needs. Marketing activities: How the business communicates with consumers, trying to inform them about the products and persuading them to buy.

  49. Now your turn…Select a business you know well and outline what makes up their business activities (and their Supply chain). Business Activities cont. Production: The process of creating the products the business provides its consumers – The Quality and Quantity of production is important for the business to consider. Distribution: How the business delivers/provides its products to consumers DO AN EXAMPLE FOR BAKERS DELIGHT

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