PLANS Identify the various Identify the stakeholders of the previously investigated. two SME’s 3 stakeholders who are affected by a business. Assess the view that having a business plan will guarantee the success of a start-up business. Explain the purpose and main components of a business plan. Evaluate the importance of a business plan. Carry out project work on identifying a gap in the market and produce an outline business plan, e.g. Identify the main sources of information and guidance Research how organisations such as the of Prince’s Trust, Chamber available to entrepreneurs. Commerce, Welsh/UK Government and Citizen’s Advice Bureau could help with the start-up of a new business. MARKETS Explain what is meant by a 4 market and competition. Types of market Identify different types of Analyse one example of each of the different types of market. Identify markets, including local/global, similarities and differences, e.g., type of products; numbers of buyers mass/niche, trade/consumer, and sellers, relative prices. product/service and seasonal. Market data Analyse and interpret market data including market size, Select appropriate industries, e.g., car production, supermarkets, mobile market share and market phones for analysis of market size etc. trends. Market segmentation Explain what is meant by
3 PLANS Identify the various stakeholders who are affected by a business. Explain the purpose and main components of a business plan. Evaluate the importance of a business plan. Identify the main sources of information and guidance available to entrepreneurs. Identify the stakeholders of the two SME’s previously investigated. Assess the view that having a business plan will guarantee the success of a start-up business. Carry out project work on identifying a gap in the market and produce an outline business plan, e.g. Research how organisations such as the Prince’s Trust, Chamber of Commerce, Welsh/UK Government and Citizen’s Advice Bureau could help with the start-up of a new business. 4 MARKETS Types of market Market data Market segmentation Explain what is meant by a market and competition. Identify different types of markets, including local/global, mass/niche, trade/consumer, product/service and seasonal. Analyse and interpret market data including market size, market share and market trends. Explain what is meant by Analyse one example of each of the different types of market. Identify similarities and differences, e.g., type of products; numbers of buyers and sellers, relative prices. Select appropriate industries, e.g., car production, supermarkets, mobile phones for analysis of market size etc.
wjec_business_outline_september_2015.docx