The Role of Business

Learning Goal:

  • Students will understand what a business is, why they exist, and different types of business
  • Students will be able to identify business stakeholders
  • Students will understand the functional areas of business
  • Students will understand internal & external forces that impact business
Business is everywhere and involves almost every career. What do you want to do for a career? How does that involve business?

In class, we'll cover the following sections from our book using the links and materials below.

  • Rapidly changing business environment
  • Defining business
    • Two teams goods vs service 
    • Who can come up with the largest list?
  • Check understanding
  • How are they alike, how are they different?
  • We'll look at the comparison table from the link above.
    caged animal
  • With someone next to you, find a nonprofit and for profit business. Find their mission statements and add them here
  • Check understanding
  • What are factors of production?
  • We'll look at the video on this page for a breakdown of the four main factors of production.
  • In a group, think of a business or organization. Explain or give an example of their factors of production.
  • Check understanding
  • We want to be able to explain the 5 functional areas of business
  • Each group will read their section and find a website that helps explain their area of business. Add your website or link here.
  • Be ready to explain your area of business and talk about the link you found to help.
  • Check understanding
  • What is a stakeholder? Personal stakeholders?
  • Internal vs external stakeholders
  • We'll look at Figure 1 from the link above
  • Check understanding
  • What are the 6 external forces that affect business?
  • Each group of five to six will take one of the external forces. You will explain how your force impacts business. Find a news example of your external force, not listed in the book, and add it to this collaborative page.  
  • Figure 1. Business and its environment graphic
  • Check understanding

The Assignment

What Does a Business Look Like - 20 pts

Choose a company. Create a visual or graphic that shows the functional areas of business (at least three), stakeholders (internal or external, at least three), and external forces (at least three) specific to that business. Make sure to include some detail. Include at least two images in your graphic/visual. You may work in groups of three or less. 

I will be using the rubric on the link above and the Creative/Original Computer Rubric to grade your project. Send me your finished assignment with the names of all group members on Schoology. 

Use This Example - Don't use a car company

Quiz Review


Use the check for understanding questions at the end of each section to review for your quiz. Use the link below to take the role of business quiz.

UPDATE - Take quiz on Schoology

Intro to Busn & Personal Fin Role of Business Quiz A