Sales, revenue and costs Sales forecasting a) Purpose of sales forecasts. Break-even Cash flow Budgets

Role of an entrepreneur Entrepreneurial motives and characteristics Business objectives Business choices

Planning a business and raising finance 1 Planning 2 Internal finance 3 External finance 4 Forms of business 5 Liability

Managing people 1 Approaches to staffing 2 Recruitment, selection and training 3 Organisational design 4 Motivation in theory and practice 5 Leadership

Marketing mix and strategy 1 Marketing objectives and strategy 2 Product/service design 3 Promotion and branding 4 Pricing strategies 5 Distribution

The market 1 Demand 2 Supply 3 Markets 4 Price elasticity of demand (PED) 5 Income elasticity of demand (YED)

Meeting customer needs 1 The market 2 Market research 3 Market positioning

Enterprise unit designed to help students prepared to study IG Enterprise in year 10. 1 hour weekly lessons with a final project at the end of 6 weeks. Topic 1: Skills of Entrepreneur / Enterprising People Topic 2: Setting up a new Enterprise Topic 3: Market Research – Primary / Secondary Topic 4: Business Planning Topic 5: Purchasing / Budgets Topic 6: Marketing: Adverting / Promotion Topic 7: Run the Business

10.1 Types of communication Topic Formal and informal communication Verbal and non-verbal communication Appropriateness of different types of communication for communicating with internal and external stakeholders The need for careful planning, considering possible outcomes before, during and after the event Documents for meetings and presentations The need to analyse and evaluate if meetings or presentations have been successful

9.1 Sources of help and support Topic Formal sources and the assistance they offer Informal sources and the assistance they offer Suitability of different sources of help and support for the enterprise

8.1 The purpose of marketing Topic Marketing to achieve enterprise aims Marketing from the perspective of customers 8.2 Market research Topic Methods of identifying potential customers The effectiveness of methods for different enterprises 8.3 Customer retention Topic The reasons for retaining customers Methods of measuring customer satisfaction and retention Methods of retaining existing customers 8.4 Marketing communications Topic Methods of marketing communication to reach intended customers Selecting appropriate methods for different enterprises

7.1 Business objectives Topic Different enterprises have different aims and objectives 7.2 Action plans Topic The purpose and importance of action plans Contents of action plans Methods of monitoring action plans The importance of updating action plans 7.3 Business plans Topic The purpose and importance of business plans Contents of business plans Methods of monitoring business plans Reasons for updating business plans

6.1 Sources of finance Topic Advantages and disadvantages of different sources of: • start-up funding • funding for continuing trade and expansion 6.2 The concept of trade credit Advantages and disadvantages of trade credit 6.3 Financial terms Cash flow forecast Break-even Income statement 6.4 Financial records The purpose and importance of keeping accurate financial records

5.1 The negotiation process Topic What negotiation is Stages in the negotiation process: • planning • conducting the negotiation • measuring success

4.1 Opportunities Topic How opportunities arise, including: • changing needs or wants for a product or service • change in the ability to meet needs or wants • advances in technology • changes in government policy. 4.2 Risk Topic Risks involved in enterprise Identify risks Analyse the implications of each risk Decide if the risk is worth taking or not Plan how to manage the risks Attitudes to risk 4.3 Legal obligations Why laws and regulations to protect stakeholders are needed in the areas of: • employment • production • marketing and selling • finance. The impact of laws and regulations on all stakeholders in these areas 4.4 Ethical considerations Topic How an enterprise may have an impact on communities and society Ethical considerations within enterprise (i.e. choosing to run an enterprise following moral values and beliefs) The impact of ethical considerations on the operation of an enterprise

3.1 Skills of enterprising people Topic Enterprise skills may include: • the practical skills and knowledge to create products and services • leadership • influencing skills • team-building • delegation • problem-solving • prioritisation/time management • self-confidence • resourcefulness • innovation • taking initiative • taking calculated risks • taking responsibility • motivation/determination to succeed • creativity • perseverance. 3.2 Behaviours of entrepreneurs How entrepreneurs use their enterprise skills

2 Setting up a new enterprise 2.1 The enterprise process Topic Six stages of the enterprise process: 1 identifying the problem or need or want 2 exploring creative solutions 3 action planning 4 implementing the plan 5 monitoring progress 6 evaluation of successes and failures. 2.2 Types of business organisation Topic Different kinds of organisation, including: • sole trader • partnership • limited company • co-operative • franchise • social enterprise: charities, not-for-profit organisations.

1.1 What is meant by enterprise Topic What enterprise is Who stakeholders are Including: • enterprise capability (being innovative, creative, taking and managing risks, positive attitude) • business enterprise • social enterprise. 1.2 Ways for students to be enterprising in everyday life Topic Ways of being enterprising: • at school • at home.

2.5 External influences 2.5.1 - Economic influences 2.5.2 - Legislation 2.5.3 - The competitive environment