Induction Day – A Level Business Wednesday 27th June – Period 4

Introduction to A Level Business Studies Well done on choosing an A level which will prepare you for the rest of your life.

A Level Business Summary ⅓ ⅓ ⅓

Guess the entrepreneur? With an estimated net worth of approximately £2.58 billion (US$4.2 billion), they ranks 254 in the global list of billionaires and the 5th richest person in the United Kingdom. They are also famous for their risk taking attempts at making new world records. Their first successful business venture was at a young age of 16 in the form of a magazine named Student. In 1970 founded a mail-order record company, and shortly thereafter a record store in London. His investment team focuses on our core consumer sectors of Travel & Leisure, Telecoms & Media, Music & Entertainment, Financial Services and Health & Wellness.  Name the entrepreneur?

Without the entrepreneur the business would not exist An entrepreneur is… A person who…has a business idea, develops the idea and organises the resources to see the idea through. Without the entrepreneur the business would not exist

What characteristics do you think they possess? Taking initiative and being proactive Being an effective organiser Having creativity and being innovative Being a risk taker Being determined and having perseverance Being hard working (See handout)

Homework, tea, then my business calls What characteristics do you think James possesses? Homework, tea, then my business calls James Gilmore is a 16 year old schoolboy who has his own radio station, Wizard Radio. This is an internet station launched from his bedroom in his parent’s house in 2010. It began as a one-off broadcast with a friend. Today James has 50 voluntary staff working for him, five Wizard offshoots, including an events agency and a record label, and listeners in the US, Britain and Hungary. James is one of a growing number of entrepreneur pupils now balancing their studies with commercial enterprises. “It’s difficult, it’s like I have a school working day and then another job. I get home, have some food, and then from 4.45pm I work on the show”. James is reinvesting any profits in the company, which is registered in his father’s name. “I’m going to finish my A levels and then I hope to do broadcasting professionally. Right now I have nothing to lose apart from time. I’m not financially supporting myself, so I can throw myself at it. That’s what’s great about setting up a business when you’re young, you can go through hard times and not fall down”. Source: Adapted from the Sunday Times 9 February 2014

Due date - First A Level Business Lesson with DD. Entrepreneurial task Least important characteristic Most important characteristic Discuss the cards and place them along the spectrum. Why have you placed them there? Task - What are the most 3 important entrepreneurial characteristics? Write 500 words explaining this using the entrepreneurs you have researched Due date - First A Level Business Lesson with DD.

Due date - First A Level Business Lesson with PRR. Finance task Task - Fill in the template to record your cash flow Due date - First A Level Business Lesson with PRR.