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?
    caged animal
  • In your groups, find a nonprofit and for profit business. Find their mission statements and add them here
  • Check understanding
  • What are factors of production?
  • Each group will explain their factor of production and give an example
  • 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.
  • Recap
  • Check understanding
  • What is a stakeholder? Personal stakeholders?
  • Internal vs external stakeholders
  • 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

Use the instructions from this link as a guide for this assignment and grading rubric. 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 Google Classroom. 


Use the link below to take the role of business quiz.

Intro to Busn & Personal Fin Role of Business Quiz A