TOPIC LESSON TITLE Topic 1 Business Organization and
TOPIC: LESSON TITLE: Topic 1: Business Organization and Environment Types of Ownership (Legal Structures) COMPETENCY FOCUS: Entrepreneurship (S 4): To develop your entrepreneurial skills in preparing a realistic proposal for a new business start-up. You will understand the process a business will have to go through when starting up, including the underlying principles of starting a business. [IB Learner Profile Development: Inquirer] Learning Objectives By the end of the lesson, you should be able to… LO 1) Identify the different legal structures of a business LO 2) Describe the main features of each type of legal structure LO 3) Analyse the impact of division of ownership and control for different business ownerships. SMSC: You will assess the organisational culture of businesses in terms of fundamental structure, purpose and strategy development. CRITICAL THINKING KEY: Knowledge Application Analysis Evaluation
Different Types of Ownership ‘The Body Game’ to represent different types of business ownership. [10 mins]
Research Task You will each be given a different type of business ownership. You are to conduct your own secondary research, where you will present your findings to the rest of the group. It is up to you how you will present this information.
Research Task Type of Business Ownership Features of that type of ownership Soletrader E. g. window cleaner, milkmen, trades people. A private business owned by one individual. They keep all profits and have total control over the business. Advantages Disadvantages You will need to complete the following table: Partnership E. g. solicitors, doctors, dentists, estate agents Private-limited company (Ltd) Public-limited company (Plc) Worker Co-operatives
Group Presentations As each group is presenting, complete the rest of your table for your own revision notes.
Now, continue to write your business plan Contents of a Business Plan: - Executive summary - Description of the business - Aims and objectives of the business - The business opportunity - The market - Personnel/Staffing - Buying/Production - Premises/equipment - Financial Forecasts/Accounts (including start
Exam Practice Read case study on Pg. 21 ‘The Google Phenomenon’. Respond to exam questions. [30 mins]
Extended Study Consider the advantages and disadvantages for a Private-limited Company changing to a Public-limited Company. [15 marks] Plan= 30 mins Essay= 90 mins
Reflection Reflect on what you have learnt this lesson. What do you need to know more about?
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