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Introduction to Business Objectives
This resource is designed specifically for Unit 1 of the Edexcel BTEC National qualification, 'Introduction to Business'.
Aim:
The aim of this resource is to provide you with background information about the different objectives that businesses may have. By the end, you should understand:
- The motivations people have to set up in business
- That businesses are started because someone thinks that they can produce and sell something that someone else wants
- That different types of customers exist, each of which has different needs and wants
Resources:
Activity:
This Activity is aimed at getting you involved in finding out some of the reasons why people set up in business. It could be preceded with a group discussion on the motivations for becoming self-employed.
Task 1
- Carry out research into why people start their own businesses, using a search engine such as Google (http://www.google.co.uk/). Try to find search terms that generate the best resources. For example, searching under the phrase 'business start up' produces a list of resources that will generate some good ideas.
- You could then role play a discussion of the advantages of either self-employment, or on the other hand, working for an employer.
Images: Two different perceptions of what it means to be employed and self-employed - are office workers bored and oppressed, and gardeners enjoying managing their own time? Or is there much more to the advantages and disadvantages of each? Copyright: Leszek Kepa and Matthew Maaskant
Task 2
- Look at the Marketing Explanation in Biz/ed's Virtual Factory. (http://www.bized.co.uk/virtual/cb/factory/marketing/explanation1.htm)
- Firms rely on ensuring customer satisfaction. In order to achieve this they need to be able to identify who their customers are.
- Use the Marketing Explanation to create a list of the different types of customer that the firm in question (Cameron Balloons) might target.
- This can then be applied to other business organisations that you can identify. Think of a firm that you could analyse for customer types.
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