Putting a business idea into practice

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					GCSE Business Studies Task Sheet
Topic Area:           Putting a Business Idea into practice                                 Week: 1

Topic:                Objectives when starting up a business

Objectives:
By the end of this topic, you will:
    -   Understand a range of objectives used by entrepreneurs for starting a business
    -   Differentiate between objectives used by profit and non profit making businesses


Key term:      Digital Textbook: Introduction to Small Business Unit 13 (page 64)
Financial
Objectives
Lesson 1       There are two main category types of objectives within an organisation. These fall under the
               headings financial and non-financial.
Starter:
               Watch a slide show here

                    a) Mindmap, via starter discussion, all the relevant objectives an organisation would
                       have. There are 4 financial objectives and 4 non financial ones.

               OR

                    b) Activeteach/Chapter 13/Page64_65/Page Resources/Class Activity => Drag & Drop
                       Activity
                       Monetary v. Non-Monetary Objectives of a Business

Lesson 1:
               Activeteach/Chapter 13/Page66_67/Page Resources/Class Activity => Missing Words
Main
Course 1       Write out the paragraph in your textbook. See if you can guess all the missing words correctly!
(Easy)
Lesson 1:      Go to Business Interactive Unit 1. From the Main Menu corner, select Aim & Objectives.
Main           Watch the case study about the skate shop and complete the task. When you have got 6 out
Course 1       of 6 correct, draw up a flowchart showing how the Aims & Objectives of the business changed
(Medium)       over time.


Lesson 1:      Still using Business Interactive, miss out the section on the Sinclair C5.
Main           Then work through the Aims & Objectives section, and complete the next drag-and-drop task .
Course 2
               Print out the worksheet. Spend the remainder of the lesson writing answers to these questions
               in your workbook. You can get the answers to the questions by hovering over the pictures with
               your mouse.

Lesson 1:      Marcouse
               92. Start Up Objectives
Main
Course 3       With your Learning Partner
               - write down objectives you would use if you were setting up your own business in:
                   1. Running a shop
                   2. Running a franchise
                 3. Running a charity


Lesson 1:    Use the Internet to find out what a SMART objective is.
             Choose any local business you like, and write down 3 SMART objectives which they could set
Side Order   themselves in the next year.

             Discover at least two companies’ objectives through research on the internet. A good example
             is:
             http://www.co-operative.coop/aboutus/ourvaluesandprinciples/

Lesson 1:    Answer the questions on page 65 under the section ‘Test yourself’. Self assessment.
Plenary
             Activeteach/Chapter 14/Page70_71/Page Resources/Class Activity => Missing Words
Dessert
             Write out the paragraph in your textbook. See if you can guess all the missing words correctly!



HOMEWORK Homework Term 3

             Take part in this year’s St Augustine’s Dragon’s Den Challenge

             Using your Dragons’ Den idea come up with at least 5 viable business objectives for
             your enterprise.

Revision     Revision slideshow: Objectives of a Start-Up Business
Notes
GCSE Business Studies Task Sheet
Topic Area:            Putting a Business Idea into practice                            Week: 1

Topic:                 Qualities shown by entrepreneurs

Objectives:
By the end of this topic, you will:
    - Understand the qualities shown by entrepreneurs including: determination, initiative, risk
        taking, decision making, ability to plan, the gift of persuasion, showing leadership, being lucky.

                Digital Textbook: Introduction to Small Business Unit 14 (page 68)
Lesson 2:       Figure out the enterprise qualities cryptogram

Starter         Entrepreneurs hangman

Lesson 2:       Watch a slide show here
Main            Marcouse
Course 1        32 Enterprise qualities


Lesson 2:       Activeteach/Chapter 13/Page68_69/Page Resources/Class Activity => Drag & Drop:
                What Qualities Are Required to be a Succesful Entrepreneur?
Side Dish
                Ensure you have a list of the enterprise qualities needed by an entrepreneur written in your
                textbook.


Lesson 2:       Turn to page 70 and carry out the section entitled ‘test yourself’.
Plenary         Famous Entrepreneurs Quiz

                Being an Entrepreneur Quiz
Homework        Homework Term 3

                Using your own Dragons’ Den enterprise:
                Identify what enterprise qualities would be needed to make the idea successful.
                What enterprise qualities would your team need to develop?
                Identify any enterprise qualities your team have already attained.

Revision        Revision slideshow: Enterprise Skills
notes
GCSE Business Studies Task Sheet
Topic Area:              Putting a Business Idea into practice                            Week: 2

Topic:                   Estimating Revenues, costs and profits

Objectives:
By the end of this topic, you will:
    - Understand how businesses forecast sales volumes and selling prices to estimate revenue.
    - Understand and identify FC & VC
    - Know the difference between Price and cost
    - Now how to calculate profit
    - Understand the impact of profit & loss on a company

Key terms:         Digital Textbook: Introduction to Small Business Unit 15 page 72
Revenue or
sales revenue or
sales turnover;    Estimating Sales Revenue
Sales volume
Lesson 1:          In Pairs discuss what the term ‘sales’ means. Feedback into class.
                   What is the difference between forecast and actual sales?
Starter
                   Watch a slide show here (slides 1-5 only)

Lesson 1:          Turn to page 72 and read the Case Study at the top of the page. Now look at table 1 –
                   discuss.
Main               New Heading ‘Estimating revenue’
Course 1
                   sales revenue = No of units sold x retail price.

                   What would the sales revenue be for David if he had 15 or 25 jobs to do? What if it was 32?
                   This spreadsheet might help you.

Lesson 1:          Powerpoint on estimating revenue
Side Dish
                   Ian Adkins Business

                   Or

                   Work out a revenue forecast for:
                      1. A school cake stand operating at break-time for one week
                      2. The Sixth Form pantomime (on for two nights)
                      3. Tescos Trowbridge branch on Saturday
                      4. A bed-and-breakfast with 5 double-bedrooms in Bournemouth (for one year)
                      5. Matchday revenue at Manchester United (gate receipts, including season tickets)
                      6. A coffee shop in Trowbridge (one year)
                      7. Toni & Guy hairdressers in Bath (one year)
                      8. A local branch of Pizza Hut (one year)
                      9. McDonalds, Trowbridge (one year)

Lesson 1:          Marcouse
                   36. Estimating revenues
Plenary
           Why does a company need to forecast sales?
           What 2 things can influence the accuracy of sales forecasting?

Homework   Homework Term 3

           What quantity of sales can you predict for your enterprise, and why?

Revision   Revision Presentation: Revenues & Demand
notes
GCSE Business Studies Task Sheet
Topic Area:              Putting a Business Idea into practice                             Week: 2

Topic:                   Estimating Revenues, costs and profits

Objectives:
By the end of this topic, you will:
    - Understand how businesses forecast sales volumes and selling prices to estimate revenue.
    - Understand and identify FC & VC
    - Know the difference between Price and cost
    - Now how to calculate profit
    - Understand the impact of profit & loss on a company

Key terms:        Digital Textbook: Introduction to Small Business Unit 15 page 73
Fixed costs,
Variable costs    Estimating costs
and Total Costs

Lesson 2:         With your learning partner, discuss the types of costs that a window-fitting firm would come
                  across.
Starter
                  Watch a slide show here (slides 6-11 only)

                  Check your understanding of fixed and variable costs by doing:
                  Fixed or variable – Drag & Drop

Lesson 2:         i) Marcouse
                  43. Fixed and variable costs
Main
Course 1
                  Discover the formula for Total Costs – page 73.

                  ii) Now watch the video about Tettenhall Glazing:
                  Activeteach/Chapter 14/Page72_73/Page Resources/Class Activity => Tettenhall Glazing

                  iii) Marcouse
                  37. Estimating costs
                  12. Calculating total costs

Lesson 2:         What are the total fixed costs in our case study for David Lutter for a week? p73.
                  What are his total variable costs?
Side Dish         What are his variable costs per job done?

                  Challenge:
                  Can you complete this spreadsheet?
                  If you can, print it out and stick it in your exercise book.

Lesson 2:         Use the graph you completed in the above spreadsheet to answer this question:
Plenary           If David obtains 12 jobs in a week, would he break even? i.e. would total revenue exceed or
                  equal total costs?
Homework   Homework Term 3

           Identify and classify FC & VC that your enterprise could encounter. How could you ensure
           accuracy of these costs?

           Letts Revision Q&A p 46-47: Business Costs

Revision   Revision Presentation: Cost Basics
notes
GCSE Business Studies Task Sheet
Topic Area:               Putting a Business Idea into practice                              Week: 3

Topic:                    Estimating Revenues, costs and profits

Objectives:
By the end of this topic, you will:
    - Understand how businesses forecast sales volumes and selling prices to estimate revenue.
    - Understand and identify FC & VC
    - Know the difference between Price and cost
    - Know how to calculate profit
    - Understand the impact of profit & loss on a company

Key terms:         Digital Textbook: Introduction to Small Business Unit 15
Breakeven, total
costs and total
revenues           Price, cost and profit
Lesson 1:          Revisit key terms experienced in this topic so far. Students to input and give definitions.
                   Formulas for Total Costs and Total Revenue.
Starter
                   Activeteach/Chapter 14/Page72_73/Page Resources/Class Activity 
                   Estimating revenues, costs and profits

Lesson 1:          The Cake Make Company
Main               OR
Course 1           Pet Havens Worksheet


Lesson 1:          Marcouse
                   13. Calculating total profit
Side Dish

                   Active Teach page 75: Over to You Activity
                   Write down the answers in your book. When you have completed this, ask your teacher for the
                   mark scheme and evaluate your answers.

Lesson 1:          Penalty Shootout Quiz: Covering the cost of new products
Plenary

Homework           Homework Term 3

Revision
                   Revision Presentation: What is Profit?
notes
GCSE Business Studies Task Sheet
Topic Area:          Putting a Business Idea into practice                               Week: 3

Topic:               Estimating Revenues, costs and profits

Objectives:
By the end of this topic, you will:
    - Understand how businesses forecast sales volumes and selling prices to estimate revenue.
    - Understand and identify FC & VC
    - Know the difference between Price and cost
    - Now how to calculate profit
    - Understand the impact of profit & loss on a company

Key terms:     Digital Textbook: Introduction to Small Business Unit 15 page 75
Profit; loss
Lesson 2:      Read the top of page 74 entitled result plus.
               Write down what you interpret as the difference between price and cost.
Starter
Lesson 2:      Activeteach/Chapter 15/Page75/Page Resources/Class Activity =>
               Missing Words activity
Main
Course 1       Write out the paragraph in your textbook. See if you can guess all the missing words correctly!


Lesson 2:      Examine how you could calculate the exact costs of a kebab shop - mindmap. Which of these
               costs researched relate to fc and which to vc?
Main           How do we forecast profit? What are the problems of forecasting optimistically?
Course 2       Identify ways in which small business would use profit.

               OR:
               Watch the video about Hovis

Lesson 2:      Dealing with losses – what strategies can a company come up with for dealing with these.
               Identify 3.
Side Dish
               OR:
               Complete the following worksheets
               ‘Classifying costs’
               ‘Increasing Revenue’


Lesson 2:      P75 test yourself section
Plenary
Homework       Homework Term 3

Revision
notes
GCSE Business Studies Task Sheet
Topic Area:               Putting a Business Idea into practice                              Week: 4

Topic:                    Forecasting cash flows

Objectives:
By the end of this topic, you will:
    - Understand the role and importance of cash flow to a business
    - Explain how cashflow problems arise and how they can be minimised
    - Estimate cash flows
    - Understand the difference between cashflow forecasts and cashflow statements.

Key terms:         Digital Textbook: Introduction to Small Business Unit 16 p76
Cash, cash flow,
inflow, outflow,
opening
balance, closing
balance,
cumulative cash
flow.
Lesson 1:          Identify two types of cash flowing in to a small business and two types of cash that flow out of a
                   company.
Starter
                   Cash In or Out – Drag and Drop

                   Watch a slide show here

Lesson 1:          Read pages 76 and 77 of the textbook
Main               Marcouse
Course 1                 11 Calculating net cash flows
                         16. Cash flow forecasting
                         44. Forecasting cash flows

                   Activeteach/Chapter 16/Page76_77/Page Resources/Class Activity =>
                   Drag & Drop activity
Lesson 1:          Business studies online - cash flow activity, inflows and outflows.
Main               Luke Warm cashflow
Course 2           Lee King cashflow


Lesson 1:          Cash flow forecasting – powerpoint
Side Dish
Lesson 1:          What do you think is a shortfall? What is an excess?
Plenary
Homework           Homework Term 3

Revision
notes
GCSE Business Studies Task Sheet
Topic Area:               Putting a Business Idea into practice                             Week: 4

Topic:                    Forecasting Cash Flows

Objectives:
By the end of this topic, you will:
    - Understand the role and importance of cash flow to a business
    - Explain how cashflow problems arise and how they can be minimised
    - Estimate cash flows
    - Understand the difference between cash flow forecasts and cash flow statements.

Key terms:         Digital Textbook: Introduction to Small Business Unit 16 p76
Net cash flow,
insolvency, cash
flow forecast,
Trade credit,
stocks
Lesson 2:          Look at the cash flow chart for Floral events at the bottom of p77. Is there a cash flow
                   problem?
Starter
Lesson 2:          Read pages 78-79 of the textbook
Main               What problems can affect cash flow? Discuss in groups.
Course 1           Apply to Floral Events, and advise.


Lesson 2:          Marcouse
                   15. Cash flow problems
Main
Course 1           Activeteach/Chapter 16/Page78_79/Page Resources/ Missing words activity
Lesson 2:          Read the ResultsPlus box on page 78. What are the differences between a basic answer and
                   an excellent answer?
Side Dish
                   P79 –Complete the Over to you cash flow exercise.

                   Identify 5 ways of managing cash more productively.

Lesson 2:          Test Yourself activity, page 79
Plenary
Homework           Homework Term 3

Revision
notes
GCSE Business Studies Task Sheet
Topic Area:             Putting a Business Idea into practice                           Week: 5

Topic:                  The Business Plan

Objectives:
By the end of this topic, you will:
    -   Appreciate the role and importance of a business plan in minimising the risk involved in
        setting up a business.

Key terms:       Digital Textbook: Introduction to Small Business Unit 17 p80
Business plan
Lesson 1:        In pairs - What would you expect to find in a business plan and why?
                 What is the purpose behind a business plan?
Starter
                 OR
                 Watch the first part of the video: How to write a business plan

Lesson 1:        Individually:
                 Read pages 80 to 81
Main             Make notes on what sections you would expect to find in a business plan
Course 1
                 then:
                 Activeteach/Chapter 17/Page80_81/Page Resources/ Class activity: Business Plan

                 Marcouse
                 8. Business plan

Lesson 1:
                 Then read the ResultsPlus box on page 81
Main
Course 2         Begin the Over to You activity on page 83.

                 As a class:
                 Activeteach/Chapter 17/Page81_82/Page Resources/ Missing words activity

                 Complete the Test Yourself on pages 82.

                 Return to complete the Over to You question

Lesson 1:        Peer Assessment of ‘Over to You’ Question, using the suggested mark scheme
Side Dish
Lesson 1:        Students to identify areas of weakness.
Plenary
Homework         Homework Term 3

Revision
notes
GCSE Business Studies Task Sheet

Topic Area:             Putting a Business Idea into practice                             Week: 5
Topic:                  Obtaining finance

Objectives:
By the end of this topic, you will:
    - Explain the main sources of finance for a small business start-up
    - Understand the long term sources of finance
    - Understand the short term sources of finance.

Key terms:      Digital Textbook: Introduction to Small Business Unit 18 p84
Long-term
finance,
short-term
finance,
shares, share
capital,
personal
savings,
shareholders
Lesson 2:       Watch a slide show here
Starter         Draw Spider diagram of ways of obtaining finance for an enterprise.
Lesson 2:       Marcouse
                87. Sources of finance for start-up
Main
Course 1
                1) Sources Of Finance - Mix 'n' Match
Lesson 2:
Side Dish       2) Which Source Of Finance - Battleships Quiz

                3) Finance Gaps - Fill In The Gaps

                4) Sources Of Finance Quiz - Penalty Shootout / Fling The Teacher

                5) Source Of Finance - Word Wall


Lesson 2:       As a class:
                Activeteach/Chapter 18/Page84_85/Page Resources/ Class activity 
Plenary         Sources of finance and their appropriate uses

                Activeteach/Chapter 18/Page86_87/Page Resources/ Missing words activity



                Activity – place the listed sources of finance in the relevant short/long term finance columns.
Homework        Homework Term 3

Revision
                Revision Presentation: Raising Finance For a New Business
notes
GCSE Business Studies Task Sheet
Topic Area:                 Putting a Business Idea into practice                          Week: 6

Topic:                      Revision

Objectives:
By the end of this topic, you will:
    - Explain the main sources of finance for a small business start-up
    - Understand the long term sources of finance
    - Understand the short term sources of finance.

Key terms:          Digital Textbook: Introduction to Small Business Unit 13-18 p85
Venture
capitalist, loan,
security,
mortgage,
dividend,
leasing, retained
profit, overdraft
facility
Lesson 1:           Preparation for giving presentations
Starter
Lesson 1:           Presentations are to be peers assessed on how much knowledge and understanding students
                    attained. Students need to make relevant notes and mark a designated presentation as set by
Main                the teacher.
Course 1

Lesson 1:           Focus on venture capital – students given handout on venture capitalism and asked to highlight
                    5 important facts from it.
Side Dish
                    Watch an episode of Dragon’s Den to see venture capital in action

                    1) Sources Of Finance - Mix 'n' Match
Lesson 2:
Plenary             2) Which Source Of Finance - Battleships Quiz

                    3) Finance Gaps - Fill In The Gaps

                    4) Sources Of Finance Quiz - Penalty Shootout / Fling The Teacher

                    5) Source Of Finance - Word Wall


Homework
Revision
notes
GCSE Business Studies Task Sheet
Topic Area:            Putting a Business Idea into practice                            Week: 6

Topic:                 Revision

Objectives:
By the end of this topic, you will:
    - Explain the main sources of finance for a small business start-up
    - Understand the long term sources of finance
    - Understand the short term sources of finance.

               Digital Textbook: Introduction to Small Business Units 13-18 p84
Lesson 2:
Starter
Lesson 2:      Using OpenMinds software, construct a mind-map which summarises all of chapters 13-18.
Main
Course 1
Lesson 2:      Find out how well you know this unit by doing the following interactive exercises:
Main           Activeteach/Topic1.3 EZ/Page88_89/Page Resources/ T1.3 RP Interactive 1
Course 2
               Activeteach/Topic1.3 EZ/Page88_89/Page Resources/ T1.3 RP Interactive 2
               (Use the mark scheme to mark your work. Take a print screen and then copy it into MS Word,
               then print it out and stick in your book)

Lesson 2:             Go to the ExamZoneKnow Zone and read the Small Business Revision
Side Dish              points for Topic 1.3 (Chapters 13 to 18)
                      Go to the ExamZoneKnow Zone and get the Flash Cards for Topic 1.3
                      Do the Topic 1.3 crossword
                      Go to the ExamZoneKnow Zone and do the MCQ test on Topic 1.3

Lesson 2:
Plenary
Homework       Read pages 88-89 of the online textbook
               Revise for Unit Test
Revision
notes
GCSE Business Studies Task Sheet
Topic Area:          Putting a Business Idea into practice                             Week: 7

Topic:               End of Topic test

Objectives:
At the end of the lesson students will have:
           - completed assessment on this topic
           - Peer assessed each others’ tests
           - Highlighted any weaknesses demonstrated through taking the test.
Key terms:
All
Lesson 1:     Interactive text books p87 ‘test yourself’.
Starter
Lesson 1:     Students will be given a 30 minute test which encompasses assessment covering the topic 1.3.
              This will be followed by peer assessment.
Main
Course 1

Lesson 1:     Identification of weak areas in test by students to be feedback to teacher.
Side Dish
Lesson 1:
Plenary
Homework
Revision
notes

				
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