In groups, students undertake a practical SWOT analysis of two enterprises in their area and make judgements about these enterprises. They then share and compare their ideas with another group. Plenary activity: Students recap the elements of SWOT and write out what each letter stands for. They describe why it is important for an enterprise to use this method of analysis. 32 C3 Situational analysis Introductory activity: Students recall from earlier lessons the political pressures and other external Using situational analysis to identify factors that affect an enterprise. In groups, they compile how internal and external factors lists of the different external factors they have learned might affect an enterprise about. The teacher brings the groups’ points together to PEST (political, economic, social form a class mind map. and technological) Main session activities: The teacher explains the concept of a PEST analysis and invites students to give an example of each aspect. Students undertake a practical PEST analysis on the two SMEs they analysed using SWOT in the previous lesson. They compare and contrast how each enterprise is affected by the factors they identify. If there is time, students briefly list the main differences between a PEST and SWOT analysis. Plenary activity: Students recap all the elements of PEST and explain how this form of analysis can be used by an enterprise to improve its performance. 33 C4 Measuring the success of an Introductory activity: Students recall definitions of an Insolvency statistics for the area where students live SME and an explaining the difference ‘aim’ ‘objective’, can be used to give an indication of the rate of failure of between them. They briefly list the main aims that all enterprises and what can be done to reduce failure How far they meet business aims enterprises have. rates. The Gov.UK website publishes some of this such as surviving, breaking even, information for example, Main session activities: –
In groups, students undertake a practical SWOT analysis of two enterprises in their area and make judgements about these enterprises. They then share and compare their ideas with another group. Plenary activity: Students recap the elements of SWOT and write out what each letter stands for. They describe why it is important for an enterprise to use this method of analysis. 32 C3 Situational analysis Using situational analysis to identify how internal and external factors might affect an enterprise PEST (political, economic, social and technological) Introductory activity: Students recall from earlier lessons the political pressures and other external factors that affect an enterprise. In groups, they compile lists of the different external factors they have learned about. The teacher brings the groups’ points together to form a class mind map. Main session activities: The teacher explains the concept of a PEST analysis and invites students to give an example of each aspect. Students undertake a practical PEST analysis on the two SMEs they analysed using SWOT in the previous lesson. They compare and contrast how each enterprise is affected by the factors they identify. If there is time, students briefly list the main differences between a PEST and SWOT analysis. Plenary activity: Students recap all the elements of PEST and explain how this form of analysis can be used by an enterprise to improve its performance. 33 C4 Measuring the success of an SME How far they meet business aims such as surviving, breaking even, Introductory activity: Students recall definitions of an ‘aim’ and an ‘objective’, explaining the difference between them. They briefly list the main aims that all enterprises have. Main session activities: Insolvency statistics for the area where students live can be used to give an indication of the rate of failure of enterprises and what can be done to reduce failure rates. The Gov.UK website publishes some of this information – for example,