The Role of Business
- 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
- 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
- Check understanding
- 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.
- 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.
- 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.
- What is a stakeholder? Personal stakeholders?
- Internal vs external stakeholders
- We'll look at Figure 1 from the link above
- 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 - 35 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), external forces (at least three), 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. Share your project with another group. They will use the rubric to give you feedback on your project. Once you have feedback and have made adjustments, use the rubric to self-assess your project. Meet with me to discuss your project. Send me your finished assignment with the names of all group members on Google Classroom.
Use This Example - Don't use a car company