Characteristics of a successful business

SubjectNSW Commerce YearStage 5 Curriculum Time50

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Introduction

Students develop a basic understanding of the indicators of business success in relation to each business function, such as meeting tax obligations as part of operational management.

Australian Curriculum or Syllabus

This activity contributes to the following outcomes.

A student:

  • applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
  • explains information using a variety of forms COM5-8
  • works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9.

Related Stage 4 outcomes: COM4-1, COM4-8, COM4-9

Related Life Skills outcomes: COMLS-12, COMLS-13

Content descriptions

Option 4: Running a Business

Planning for success

Students:

  • examine the key considerations involved when planning and organising a small business, including: (ACHEK019, ACHEK030)
    • likely success of small business opportunities, including the factors contributing to the success or failure of businesses (ACHEK018)

Student learning resources

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Explainer

What is a successful business?

 
Interactive

Indicators of business success

 
Worksheet

How successful is this business?

Suggested activity sequence

This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.

  1. Brainstorm a list of successful businesses and why they are successful.
  2. As a class, read the explainer.
  3. Discuss with students the different aspects of a business and the indicators of success.
  4. Students complete the interactive, followed by the worksheet.
  5. Students outline the characteristics of a successful business in no more than 150 words

Useful prior learning