This lesson introduces learners to competition, competitive advantage and what makes a market competitive. We go through each way a business can gain advantage, then we contextualise each of these ways. Real examples of how businesses compete with each other, rather than competing on price.
We then go on to look at what risks businesses face (specific to the AQA spec) such as new competitors, changing legislation and more. We then look at what businesses can do to minimise these risks by completing a business plan, invest in training and also by completing a SWOT analysis.SWOT analysis task included where students use one of the businesses given and look at their strengths, weaknesses, opportunities and threats. Two 3 mark questions with model answers to build exam technique.
Colourful, concise and engaging slides!
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