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.

Can you match them up?

AA

11

22

33

44

55

BB

CC

EE

DD

AA

11

22

33

44

55

BB

CC

DD

EE

Bill Gates

Theo Paphitis

Richard Branson

Mike Ashley

Anita Roddick

Starter

Can you name these Entrepreneurs?

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

ENTERPRISE: Starter

Name 5 entrepreneurs

Extension: Name the businesses they own.

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

Unscramble!

ficdnoeecn rreetrnneeup kissr drawers

Extension – give a description of each

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

Plenary

Name 3 enterprising characteristics For what reasons may you want to start a

business? Is there any help available for entrepreneurs?

If so, what?