Planning for business success
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Introduction
Students learn why business planning is important to business success and the components of a business plan. They apply their knowledge by developing a business plan for a hypothetical business. This learning provides an important foundation for understanding government as an external factor affecting businesses.
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
- develops and implements plans designed to achieve goals COM5-6
- 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, COM4-6, COM4-8, COM4-9
Related Life Skills outcomes: COMLS-12, COMLS-13
Content descriptions
Option 4: Running a Business
Planning for success
Students:
Student learning resources
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Planning for business success
Developing a business plan
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. The activity was written for students in Stage 5, however it can be modified to suit the needs of Stage 4 students and Life skills students.
- As a class, read the explainer.
Alternatively, have students read the explainer individually or in pairs and encourage them to take notes using the Cornell note taking system. - Students individually complete the worksheet.