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Problem Based Learning

Business Survival

This Problem Based Learning (PBL) exercise focuses on the issues surrounding the setting up and running of a small business. The article suggests some reasons for setting up a business and then goes on to point out some of the shortcomings of small businesses and how these can lead to business failure.

The problems associated with this issue, therefore, are numerous and students can take very different approaches and lines of enquiry during their investigation.

Our Guide for Educators provides advice on how to use this resource with both HE and FE students.

Learning Objectives:

At the end of the PBL exercise, students might have covered some of the following:

• The reasons for setting up a business
• The objectives of a business
• The role of planning in business
• Causes of business failure
• The importance of cash flow management in business survival
• Strategies to help secure business survival in the short and long term
• The role of external business solutions providers in helping small businesses
• The role and importance of credit management strategies in securing business survival

Resources:

• The Problem: Setting up a business and securing long term business survival - can it be planned?
• References for Investigation