GCSE Business Studies Unit 1 Introduction To Small

GCSE Business Studies Unit 1 Introduction To Small Businesses GCSE Business Studies Unit 1 Introduction to Small Businesses 1. 2 Showing Enterprise

• To understand what it takes to be a successful entrepreneur • To understand how entrepreneurs must overcome mistakes and problems to be successful • All students will understand the meaning of the word ‘entrepreneur’ • Most students will be able to discuss the skills and qualities which make an entrepreneur successful. • Some students will be able to discuss how entrepreneurs overcome problems Enterprise GCSE Business Studies Unit 1 Introduction To Small Businesses Lesson Objectives and Outcomes

Key Terms • Entrepreneur A person who owns their own business and takes risks. • Enterprises Another word for businesses. • Enterprising A willingness by an individual or a business to take risks show initiative and undertake new ventures. • Risk The chance of damage or loss occurring as a result of making decisions.

What makes a good entrepreneur?

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What is more important? • In your booklet is a list of different features that an entrepreneur may have. • You need to rank them by importance, with the most important feature at the top and the least at the bottom

Research Task • Being a successful entrepreneur isn't about getting it right the first time. Most entrepreneurs make mistakes, but learn from them to make them more successful. “When I first started out in business I owned a glass and ceramic export business in Italy selling to Harvey Nichols stores. The business failed. I went on to buy a franchise in textiles with a partner and later sold my share for a profit. After this I went to work for my family helping to run and later own the leisure park my parents had bought. ”

Using the internet… • Create a mini biographies on the entrepreneurs in your booklets. Make sure that you include – What their company/companies do – How they started their first company – If they took any risks, did they pay off? – If they’ve had any failures – What new ventures have they undertaken