1. Trish Ria Jack Board Door TEACHERS DESK Nice Asil Mulki Nasir Imran
Monday, 17 September 2018Monday, 17 September 2018
Board
Door
TEACHERS DESK
Nice
Aditya
Shuyeb
Yassir
Brijesh
Asil
Mulki
Balween
Trish
Ria
Nasir
Edmond
Anthony
Harry
Mason
Jack
Imran
Radu
Jahangir
Samuel
Bonnie
Rabbab
Shamar
Maruf
Taking a seat and starting – 2 minutes
Rahat
Yugesh
Simran
Joe
Charlotte
Lidia
Adding value

2. Unit 1 – Topic 1 Spotting a business opportunity
Monday, 17 September 2018Monday, 17 September 2018Monday, 17 September 2018
GCSE Business
Unit 1 – Topic 1
Spotting a business opportunity
Adding value

3. Start of lesson drills Planner on the desk Pen/stationary available
Monday, 17 September 2018Monday, 17 September 2018
Start of lesson drills
Planner on the desk
Pen/stationary available
Exercise book open on the desk
Date copied from the presentation
1.1.4 Adding Value
Ready to learn 
Reminder
Adding value

4. Monday, 17 September 2018Monday, 17 September 2018
Expectations
Be in the right place, at the right time doing the right thing:
Be respectful of others and allow them to learn
Complete all homework tasks set and come to me if you have any problems completing it
Respect all school equipment
Bring the correct equipment (pens, books etc.) to our class
Act as respectable young adults like business individuals
Reminder
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5. Monday, 17 September 2018Monday, 17 September 2018
Learning objective
To understand the need to add value to products/services
Adding value

6. How much would you be willing to pay for the following?
Monday, 17 September 2018Monday, 17 September 2018
How much would you be willing to pay for the following?
Adding value

7. How much would you be willing to pay for the following?
Monday, 17 September 2018Monday, 17 September 2018
How much would you be willing to pay for the following?
Adding value

8. How much would you be willing to pay for the following?
Monday, 17 September 2018Monday, 17 September 2018
How much would you be willing to pay for the following?
Adding value

9. Monday, 17 September 2018Monday, 17 September 2018
Added Value
This is the difference between the price of a product/service and the costs involved in making it.
E.g. Customers pay £55 for an ICE watch. However it may only cost ICE £30 per watch to buy the plastic and metal to produce it, to cover bills, to pay employees and to advertise the watch. How much value has been added in this case?
Adding value

10. Monday, 17 September 2018Monday, 17 September 2018
Your turn
If it costs Evian £0.25 per unit to produce and market a 500ml bottle of water.
What is the value added if they recommend a retail price of £0.70?
If you need to, write down your working out
Adding value

11. Example: Havaianas Flip Flops
Monday, 17 September 2018Monday, 17 September 2018
Example: Havaianas Flip Flops
Scenario: Havaianas have sold 1000 pairs of flip flips to their online customers.
Sales (1000 units sold at £20 each)
Costs:
Raw Materials at £7.50 per unit
Labour at £5 per unit
Other production costs at £2.50 per unit
Total Cost = £__?____
1. Added Value = Sales price per unit - Total Cost per unit
____________= ______________ - ____________
2. Total added value = Total sales – total costs
Adding value

12. How can a business add value?
Monday, 17 September 2018Monday, 17 September 2018
How can a business add value?
“A recent study on food spend in the UK reveals we spend an annual £30bn on takeaways and fast food”.
Offering Convenience and Speed
Improving product design and/or product quality
Improving a service
Through Branding
Developing a strong USP
Improving packaging
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13. Adding value by convenience
Monday, 17 September 2018Monday, 17 September 2018
Adding value by convenience
Adding value

14. Think Pair Share On your own Talk to your neighbour Tell the class
Monday, 17 September 2018Monday, 17 September 2018
Think Pair Share
On your own Talk to your neighbour Tell the class
How could you add value to one of the following items? 1. Wood 2. Beef 3.Cocoa
– Think and discuss then share ideas with the class for each point
Think about:
Offering convenience and speed
Improving product design and/or product quality
Improving a service
Through Branding
Developing a strong USP
Improving packaging
Market Competition

15. Adding Value to a white t-shirt by Improving product design
Monday, 17 September 2018Monday, 17 September 2018
Adding Value to a white t-shirt by Improving product design
Glue the t-shirt image into your books
Add value to this plain white t-shirt (add logo illustrations/colour/change design if necessary)
Explain the finished product you have created
EXTENSION:
When finished state the recommended retail price (RRP) for the finished product. Give two reasons why you think customers will pay this price.
Adding value