Topic 3 Trends affecting business Mr. Barry Business BTEC Year 10

Starter activity All business are affected by changes in the world around them. These can provide new opportunities but they can also threaten the survival of organisations that fail to adapt End Mr. Barry Business BTEC Year 10

Example Kodak In 1888 Kodak made its name by producing the first cameras and rolls of film that people could easily use In 2011 it filed for bankruptcy The company had failed to adapt quickly enough to new developments in digital photography Mr. Barry Business BTEC Year 10

Discussion Mr. Barry Business BTEC Year 10

Social trends Involve the way we live and behave Sixty years ago fewer people owned a car or went abroad on holiday and borrowing money was considered shameful Today driving to the airport to catch a plane and paying by credit card is considered normal Society has changed a lot in a short time Mr. Barry Business BTEC Year 10

Populations changes The population of Great Britain increased by over 20 million people between 1911 and 2011 There are more elderly people because life expectancy has increased as a result of improved diet and healthcare This presents opportunities for organisations A more culturally diverse population has provided opportunities for ethnic speciality shops Mr. Barry Business BTEC Year 10

Household and families Consist of a blended family where parents, step-parents, children and step children live together Couples may opt to cohabit rather than marry In the UK, civil partnerships between same-sex couples are now legal and accepted by society Mr. Barry Business BTEC Year 10

Education Has improved with more young people achieving good GCSE and A-level grades and attending university Some students now choose to study near their home to keep their living costs down Mr. Barry Business BTEC Year 10

Labour market Changes have seen more women working and more families reliant on good quality childcare Employment laws have given workers more protection and have allowed employees to request flexible working Many people work from home, and some have more than one part-time job There is more temporary work Mr. Barry Business BTEC Year 10

Increasing travel for work Many people endure long commutes to their workplace, often to avoid the high cost of housing in city centres In some families, one person may work away during the week, or work abroad on a short term contract, while their partner and children remain at home Some people may emigrate to improve their career prospects Mr. Barry Business BTEC Year 10

Activity Today most people are far more aware of health and fitness In groups, brainstorm the business opportunities that have occurred as a result Choose one other social or lifestyle trend and make a similar list. Compare your ideas as a class End Mr. Barry Business BTEC Year 10

Technology trends How many of you own a mobile phone? How many of you know a family member that owns a mobile phone? Mr. Barry Business BTEC Year 10

Technology trends Not only affects what people buy and how they work and spend their leisure time, but also means that some products rapidly become obsolete What is the meaning of the word “obsolete”? 40 41 39 43 44 38 42 36 32 31 33 34 45 35 37 46 56 55 57 58 60 59 54 53 48 47 49 50 52 51 30 28 8 7 9 10 12 11 6 5 1 End 2 3 4 29 13 23 22 24 25 27 26 14 21 16 15 20 17 18 19 Mr. Barry Business BTEC Year 10

Can you give examples of how technology trends have made products obsolete? Floppy disk to CD-ROM Videotapes to DVD’S Sometimes technology has caused a product to change more than once! Has this happened to a DVD? Mr. Barry Business BTEC Year 10

Digital Natives Mr. Barry Business BTEC Year 10

End Technology in society Today most people have a computer For personal use, laptops, smartphones and tablets outrank PC’s and provide almost continuous access to the internet What are some of the ways people use technology to complete day-to-day tasks? End Mr. Barry Business BTEC Year 10

Group work activity Form into groups of 4 Chair Timekeeper Recorder/notetaker Narrator Mr. Barry Business BTEC Year 10

Case Study Ensure you answer all of the questions and everyone is participating performing their assigned role 10 minutes End Mr. Barry Business BTEC Year 10

Environmental trends Most people are aware of the negative effects of some consumer and commercial actions on the environment They know that the planet’s resources will not last for ever, that sustainability is important and that pollution of any type is a bad thing. Mr. Barry Business BTEC Year 10

Renewable energy Recycling Environmental trends Mr. Barry Business BTEC Year 10

Think, Pair, Share Why do you think it is important for business’ to respect the environment? Think for a minute and write them individually Share with the person beside you for two minutes Together, share with the rest of class Mr. Barry Business BTEC Year 10

Individually 1 minute End Mr. Barry Business BTEC Year 10

In pairs 2 minutes End Mr. Barry Business BTEC Year 10

Rest of class Mr. Barry Business BTEC Year 10

Ethical trends Ethics relates to principles and standards of behaviour Consumers now expect businesses to behave ethically and to give something back to the community What does this actually mean? 2 minutes Mr. Barry Business BTEC Year 10

Carbon footprint Calculated by the amount of emissions produced by activity The aim is to become ‘carbon neutral’ by using less energy and compensating for unavoidable use, such as by tree planting or investing in schemes to provide renewable energy in developing countries Mr. Barry Business BTEC Year 10

Responsible sourcing Full understanding of sources (suppliers) Although timber has had the most publicity, because of the global effects of destroying the rainforests, ethical companies also look at many other aspects relating to their suppliers. These include a ban on child labour, and insisting on fair pay rates, reasonable working hours and good working conditions Mr. Barry Business BTEC Year 10

Animal welfare in the UK is now covered by the Animal Welfare Act which governs the way animals must be treated by breeders, those who keep working animals and pet owners. Mr. Barry Business BTEC Year 10

Business and the community Responsible businesses do not wait for the law to tell them what to do They identify their own values and write an ethical code which states the actions they will and will not take Many businesses also have charitable trusts or foundations which enable them to contribute to the welfare of their suppliers, the local community or other needy causes Mr. Barry Business BTEC Year 10

Research Task Please research using internet sources some possible opportunities and threats Please write your findings into your books 10 minutes End Mr. Barry Business BTEC Year 10

Discussion Mr. Barry Business BTEC Year 10