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.

Getting Down to Business

    • Rapidly changing business environment

      • With someone sitting next to you find two businesses that either didn't exist 10 years ago or won't exist in 10 years (do you agree?). Be ready to share.

    • Defining business

      • Two teams goods vs service

      • Who can come up with the largest list?

    • Profit, loss, and value

      • Can a company survive without profit? We'll break up and read these two articles. Jot down two interesting facts from your section and discuss it with people in your group. Be ready to share.

    • Check understanding


For-Profit vs. Nonprofit Businesses

    • How are they alike, how are they different?

    • We'll look at the comparison table from the link above.

    • With someone next to you, find a nonprofit and for-profit business. What goods or services do the businesses/organizations provide? Add your info here.

caged animal

Factors of Production

    • What are the factors of production?

    • We'll look at the video on this page for a breakdown of the four main factors of production.

    • Vote on a How It's Made video to watch.

    • Work with one, two, or three people in the room. Create and share a Google Doc/Slide/Drawing. You are starting a new business/organization in Brainerd. Briefly describe how your business will use each factor of production we discussed. Be ready to share.

Functional Areas of Business

    • We want to be able to explain the five functional areas of business and supply chain

    • Each group will read their section and find a website that helps explain their area of business. Add your website or link here. Choose a company and think of an example of how they perform your area of business.

    • Be ready to explain your area of business, talk about the link you found, and your example.

Business Stakeholders

    • What is a stakeholder? Personal stakeholders?

    • Internal vs external stakeholders

    • We'll look at Figure 1 from the link above

External Forces

    • What are the six 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

The Challenge - What Does a Business Look Like - 28 pts

Choose a company. Create a visual or graphic that shows the functional areas of business (at least two), stakeholders (internal or external, at least two), external forces (at least two), and factors of production (at least one) 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.

Use this rubric to self-assess your work. Send me your finished assignment with the names of all group members on Google Classroom.

Use This Example - Don't use a car company