GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise GCSE Business Studies Unit 1 Introduction to Small Businesses GCSE Business Studies Unit 1 Introduction To Small Businesses 1.2 Showing Enterprise

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Objectives and Outcomes Understand the principle of taking a calculated risk Understand the importance of weighing up the risks and the rewards of a new business idea Appreciate that seeing mistakes is part of the process of learning to succeed ALL students will attempt the risk analysis MOST students will complete the risk analysis SOME students will complete the extension exercise GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Taking Risks in business Running a business is risky. Even large businesses take risks that dont always pay off. Some well known businesses have gone in to administration over the last few years.. – Comet – Optical Express – JJB Sports – Woolworths When a company is losing money and facing threats from a creditors – it can be rescued by being placed in administration. The courts protect it by stopping all legal actions for a set time period.

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Would you buy these shares?

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Would you buy these shares? What actually happened!

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Would you buy these shares?

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Would you buy these shares? What actually happened!

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Are you a risk taker? Complete the quiz in your booklet. Add up the total number of As Bs and Cs at the bottom Mostly A: You're obviously not the adventurous type! Take a risk occasionally, 'Nothing ventured, nothing gained!' Mostly B: You're not daredevil, but you're willing to take risks. You motto is probably 'Look before you leap'. Mostly C: No-one thinks you are boring! But be careful; you will get into trouble if you dont control your reckless impulses.

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Taking risks is all about weighing up the potential rewards against the potential risk Complete the table in your booklet. Make sure that you fully explore the risks and rewards before making your decision.

GCSE Business Studies Unit 1 Introduction To Small Businesses Enterprise Explain which risk you would take, and why A. There is a 50% chance that he would lose over 10% of his customers if he put up his prices by a half B. There is a 10% chance that he would lose over 10% of his customers if her put up his prices by an 8 th.