T1 Business Enterprise

• Business
• Upper Secondary (Key Stage 4)
• GCSE

T1 Business Enterprise

Name some human needs

Name one thing you really want

Food, warmth, shelter, water & clothing

Which of the following best describes a business need?

1. New luxury company car for the CEO
2. Employee holiday party budget
3. Company baseball team sponsorship
4. Office supplies for daily operations

Tennis Lesson

Window Cleaning

Mobile Phone

Dental Check-up

Skateboard

Phone Contract

Nail Polish

Pair of  Trainers

Loaf of Bread

Bus Journey

Goods

Services

Explain the difference between a product and a service using examples of businesses in your local area that you are familiar with.

Explain the difference between customer needs and wantss and give a relevant example.

What other costs are involved in
selling a takeaway coffee?

How many different ways can you think of, that businesses add value to the basic potato?

What is the best definition of 'added value'?

1. The cost of producing a product
2. The increase in worth of a product or service
3. The sales revenue of a company
4. The number of employees in a business

It is the difference between the cost of the inputs involved with producing a product and the price it is sold for. Making a product more valuable to the consumer than in it's raw form.

The primary function of Fairfields Farm is to grow and harvest potatoes.
Outline two methods that Fairfields Farm adds value to the potatoes they grow?

Task

Now Complete Theme 1 Task 1: Investigating Local Business on your google classroom

Answers

Exit Pass:-
What is branding in business?

1. The process of reducing costs in a business.
2. The process of legalising a business entity.
3. The process of creating a unique identity for a company.
4. The process of hiring new employees for a business.