SAMPLE PROGRAM
Based on the new Commerce Course for New South Wales
Option Topic 11: Running a business
Using page references and examples from
New Concepts in Commerce
S. Chapman, M. Freak
Prepared by S. Chapman
Option 11 Running a business / Timing: 15-25 indicative hours
Focus: Students become actively engaged in planning, organising and running a small business and develop strategies to address problems as they arise.
Syllabus outcomesA student:
5.3 examines the role of law in society
5.5 evaluates options for solving commercial and legal problems and issues
5.6 monitors and modifies the implementation of plans designed to solve commercial and legal problems and issues
5.7 researches and assesses commercial and legal information using a variety of sources
5.8 explains commercial and legal information using a variety of forms
5.9 works independently and collaboratively to meet individual and collective goals within specified timelines.
Resources: New Concepts in Commerce, Chapman & Freak: John Wiley
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesBeing an entrepreneur
· reasons for being self-employed
· required skills and personal characteristics needed
(Spread 15.1) / · identify the advantages and disadvantages of being self-employed
· assess the required skills and characteristics needed for success as a business owner / - Outline the role of an entrepreneur in our economic system.
- (a) Brainstorm a list of entrepreneurs.
(b) Students select an entrepreneur and compile a brief bio-pic.
- (a) Group work. In groups of three or four, identify the advantages and disadvantages of being your own boss (self-employed).
(b) Compile a class response and display a copy in the classroom.
(c) Compare and contrast the class response to that shown on page 302.
- Students to assess their own entrepreneurial ability by completing the questionnaire:
(a) Are you willing to take moderate risks?
(b) Are you easily motivated?
(c) Do you get on well with people?
(d) Is your health excellent?
(e) Do you set realistic goals?
(f) Are you prepared to accept responsibility?
(g) Can you tolerate failure?
(h) Do you have a positive self-image?
(i) Are you well organised?
- Someone with an entrepreneurial personality would answer 'YES' to most of the questions.
(a) Students to write a self-evaluation report based on their answers.
(b) Compare their responses in class.
(c) What sort of small business would they like to own?
- In groups of three or four, identify someone who successfully runs a small business. List the personal qualities the person possesses that contribute to the success of the business.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesBeing an entrepreneur (cont.)
· reasons for being self-employed
· required skills and personal characteristics needed
(Spread 15.1 cont.) / - As a class, discuss the statement: 'If there's one thing above all from which I've learnt how to survive in business, it's been from making mistakes - and the more mistakes you make the more you learn.' (Richard Branson, British entrepreneur, founder and CEO of Virgin Group.)
- In groups of three or four, identify someone who successfully runs a small business. List the personal qualities the person possesses that contribute to the success of the business.
- (a) Student choose a business they would like to own.
(b) Identify the personal qualities needed to be successful in this business. (c) Share response with a classmate and discuss the main differences in
their answers.
- Read and discuss:
(a) ‘Yummy Mummys hair (and child) care’ on page 303.
(b) Com Fact on page 303.
- Set up a class debate to consider the following topic: ‘An older person is better suited to starting a small business than a younger person.’ Share roles so that those not debating are involved either in assisting with research or in running the debate and keeping notes on the arguments on both sides.
- Internet activity. Go to www.jaconline.com.au/commerce and access the Enterprise Network for Young Australians (ENYA) website. Outline the role of ENYA.
- Complete worksheet 15.1 ‘Do you have what it takes?’
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success
· selecting business opportunities
- market research
- location
- demographics
- competition
- target markets
(Spread 15.2) / · identify the business opportunities for small business operations
· examine the range of opportunities for setting up a small business
· evaluate the likely success of small business opportunities / - Discuss what is meant by ‘identifying a business opportunity’?
- There are many ways of coming up with a bright idea. The following table provides some examples. In groups of three or four, students are to add one suggestion of their own for each example given.
Source of idea / Example
An inspiration / A self-filling printer cartridge
Listening to people / A skateboard facility
Noticing a gap in the market / A home gardening service
Own interests and abilities / A graphic design consultant
Improving an existing product / A better video store
New technology / A mobile, HDTV screen
Developing a hobby / Making ceramic pottery
Combining two existing ideas / Antiques/coffee shop
Social trends / Home cooked, prepared meals
‘Crazy’ ideas / A musical hair dryer
- Group work. In groups of three or four, brainstorm the possible business opportunities available to your school canteen. Each group chooses a spokesperson to share the group’s comments with the rest of the class.
- Students to assume they have been employed by a newspaper to write an article on future growth areas for small business. Construct a mock newspaper page and include their article using an appropriate heading. Use desktop publishing software to present the newspaper page with text and graphics.
- Discuss why it is important for a small business to undertake market research?
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success (cont.)
· selecting business opportunities
- market research
- location
- demographics
- competition
- target markets
(Spread 15.2 cont.) / - Explain, using relevant examples, the meaning of target market.
- Complete the target market activity 4 on page 305.
- Construct a mind map to show the planning needed to successfully operate a small business. Use the sub-headings:
(a) market research
(b) location
(c) demographics
(d) competition
(e) target markets.
- (a) In groups of three or four, visit the local shopping centre or mall.
(b) Identify the best located shops.
(c) Explain why they have the best locations.
- Keeping ahead of the competition is essential for long-term business success. In groups of three or four, brainstorm how a business can keep ‘on top’ of its competitors. Select a spokesperson to present your group’s ideas to the rest of the class.
- Go to www.jaconline.com.au/commerce and access the Business Entry Point website. Outline the advice this federal government site provides regarding setting up a new business.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success (cont.)
· selecting an appropriate structure
- sole trader
- partnership
- private company
- incorporated association
· arranging finance
(Spread 15.3) / · describe the key features of each organisational structure
· select an appropriate structure for particular situations
· investigate and evaluate the range of finance options
· prepare a loan application or a simple prospectus / - List the four different legal structures to choose from when deciding how a business is to be owned and operated.
- Distinguish between an unincorporated business and an incorporated business.
- Explain why unincorporated businesses are the most common form of legal business structure.
- Discuss the importance of ‘perpetual succession’.
- Outline the main advantages and disadvantages of a:
(a) sole trader
(b) partnership
(c) proprietary company
(d) public company
- Using a telephone directory, find:
(a) five examples of sole traders or partnerships that would not have to
register their name
(b) five examples of businesses that would have to register their name.
- Complete the business structure exercise 5 on page 307.
- Group work. In groups of three or four, decide what form of business ownership is appropriate for:
(a) a small bicycle shop that offers personal and professional advice by the owner
(b) a national retail chain that would require %589 million to establish
(c) a suburban hairdresser
(d) a medical clinic.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success (cont.)
· selecting an appropriate structure
- sole trader
- partnership
- private company
- incorporated association
· arranging finance
(Spread 15.3 cont.) / - In pairs, imagine that you and two friends have decided to go into business together. Your business will specialise in designing home pages on the Internet. Decide on a business name then compile a brief partnership agreement.
- Extension activity. Suppose you are a part-time employee working for a sole trader. The owner has offered you a 35 per cent partnership and you are going to accept. Prepare a list of questions you should ask the owner before you sign the partnership agreement.
- Arrange to interview a partner a local business. Investigate the following topics:
(a) The number of people in the partnership
(b) The advantages of the partnership
(c) Contents of the partnership agreement
(d) A brief history of the business.
Student may wish to video the interview and view and discuss it as a class.
- (a) Explain the difference between debt and equity finance.
(b) Outline the advantages and disadvantages of each.
- Internet activity. Go to www.jaconline.com.au/commerce and access the National Australia Bank website. Complete a loan application form.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success (cont.)
· establishing a new or purchasing an existing business
- location, staffing, new, established, franchising, equipping
(Spread 15.4) / · describe the main steps in establishing a new or purchasing an existing business / - Discuss the two main ways of going into business:
(a) setting up a new business from scratch, including a franchise
(b) purchasing an existing business.
- Discuss why about 70 per cent of all new small businesses start from scratch.
- (a) Examine ‘The ten steps in establishing a small business’ shown on
page 308.
(b) Discuss the benefits a small business owner gains by considering these
then essential steps.
- Read ‘Monique’s Restaurant’ on pages 308-309.
- Complete activities 1 & 2 on page 309.
- Outline the main advantages and disadvantages of:
(a) establishing a new business from scratch
(b) purchasing an existing business
(c) operating a franchise?
One way of representing this information is to use a ‘T’ table as shown
below.
Starting a new business from scratch
Advantages Disadvantages
1. Owner has free choice
- (a) Locate the ‘Businesses For Sale’ section of a newspaper.
(b) Students select one advertisement and prepare a list of questions that
they should ask before making a purchase.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesPlanning for success (cont.)
· establishing a new or purchasing an existing business
- location, staffing, new, established, franchising, equipping
(Spread 15.4 cont.) / - From the ‘Businesses For Sale’ section of a newspaper find three advertisements for the sale of a corner store, newsagency or coffee shop. Explain all the terms used in the advertisements.
- Extension activity. Students to select a small business they patronise regularly and answer the following questions:
(a) Why do you use this particular business?
(b) Identify its strengths and weaknesses.
(c) If this business was for sale would you consider purchasing it? Give
reasons for your answer.
- As a class, brainstorm why business franchise systems are so popular
- Internet activity. Go to www.jaconline.com.au/commerce and access the Franchise Council of Australia website. Outline the role of the council.
- Construct a web page for Monique’s restaurant. Provide a facility for ordering takeaway food online. Use FrontPage or a similar software package.
- Complete worksheet 15.2 ‘You’re the DJ’.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesBusiness operation
· meeting regulations – local, state and federal
(Spread 15.5) / · identify the regulations impacting on a business operation / - Outline the main objectives of imposing government regulations.
- Examine and discuss the main regulations imposed by the three levels of government as highlighted on page 310.
- Complete the following table by listing three examples of regulations for the following levels of government.
Federal / State / Local
1.
2.
3. / 1.
2.
3. / 1.
2.
3.
- Students are to imagine they are about to open a pizza restaurant. In groups of three or four, investigate what federal, state and local government regulations the business would have to satisfy.
- In pairs, research the type of licence that would be needed to commence and operate the following businesses:
(a) long-day care centre
(b) publican
(c) video arcade owner
(d) pest controller
(e) solicitor.
- Arrange to have a representative from the school canteen outline the health regulations that apply to this business.
- Extension activity. Using books, magazines and the Internet, research the laws that apply to the packaging and labelling of food products.
Option Topic 11 Running a business
Students learn about: / Students learn to: / Teaching/Learning ActivitiesBusiness operation (cont.)
· selling products
(Spread 15.5 cont.) / · select appropriate marketing strategies for promoting a business / - Internet activity. Go to www.jaconline.com.au/commerce and access one of the following regulatory bodies: