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KNOX ACADEMY

STANDARD GRADE

BUSINESSMANAGEMENT

UNIT 2

STARTING YOUR

OWN BUSINESS

PUPIL BOOKLET 

Name ………………………………………………………………………

Part1

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Unit 2 Task Checklist

Task DescriptionDateCompl

eted

Copy in

Folder?1 Mind of an Entrepreneur2 Qualities of an Entrepreneur

3a Important/Not Essential3b Group Discussion3c Class Discussion4 Richard Branson5 Tom Farmer

HOMEWORK Who Started What?6 The Flying Suits7 Business Gateway Poster8 10 Golden Rules

9 Business Success/Failure10a PitchTV – Episode 110b PitchTV – Episode 210c PitchTV – Episode 310d PitchTV – Episode 4

11 Enterprise Profile12a Learn Direct (1)12b Learn Direct (2)12c Learn Direct (3)12d Learn Direct (4)12e Learn Direct Poster13a café2U

13b the streat14 Baguette Express Franchise15 Questions for a Guest

Speaker

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Mind of an Entrepreneur

TASK 1:

Listen to the Mind of an Entrepreneur and note down some key

words:

What is an Entrepreneur?

An entrepreneur is an individual who develops a

business idea and takes on the associated risks and

responsibilities.

 Jeff’s Ingenious Idea is Here to Spray

 Jeff Marr was an interested onlooker as fire fighters struggled with flames

on wasteland near his home.

 The fire was too far away for the fire fighters to have access to water so

they had to struggle with beaters to put the flames out. Jeff, aged only 17

at the time, thought there had to be a better way.

 There was – and he found it. So much that at the age of 19 he is now

Managing Director of a company which makes a portable fire fighting

system which has already received one major international contract from

a UK company.

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  Jeff’s company is called Fire Attack Systems (FAS). He approached

Business Gateway for help and received some financial input from Scottish

Enterprise.

 Jeff does his own marketing by attending shows and exhibitions and giving

live fire demonstrations to forestry groups, landowners and fire brigades.

His firm has caught the eye of bigger companies with money to spend, but

 Jeff said: “We have had enquires, but I want to run this myself and see

how far I can take it.”

West Lothian Herald & Post (Thursday 17 February 2005)

TASK 2:

An entrepreneur may have a variety of qualities in order to besuccessful in business.

What are the key qualities that Jeff had as an entrepreneur?

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Qualities

of an

Entrepreneur

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TASK 3a:

Separate the words below into things that you think areimportant to enterprise or being an entrepreneur and those that

are not.

Obtainingfinance

Taking risksBusiness

understandingBusiness

knowledgeBusiness

qualificationBeing clever

Having good

ideasDetermination Enthusiasm

Energy DriveSpotting a niche

market

LeadershipHaving a good

educationHaving lots of 

money

Knowing whatlimited liability

is

Having a totallydifferent idea

Important for anentrepreneur

Not essential for anentrepreneur

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TASK 3b:

Compare your decisions with other members of your group. Inpairs look at the results of your partner’s sheet.

1 What differences are there?

2 Explain why you decided to put the words/phrases in thebox you did and listen to your partner’s explanation.

3 Can you arrive at an agreement about where thewords/phrases should be placed?

TASK 3c:

Compare your decisions with the rest of the class and come to aclass agreement.

Some More Entrepreneurs

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Homework TASK:

Complete the worksheet: Who Started What?

Why Start a Business?

 You might start off with very big ideas about what the

future holds for your business. It is a fact though that

only 50% of new businesses starting up survive after 3

years. Clearly there is a big risk involved.

Given the risk, why would people want to start up a business in the firstplace?

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Being Your Own Boss Has Problems!

  The big advantage of starting your own

business is that you get to order everyone

else around – and decide what to do with all

the profits. But there are problems:

1 The business may take time to produce a

profit – the ____________________ may be

__________ and __________ from week to week.

2 There is no-one else to ______________________________ if anything goes

wrong – the owner must be

prepared to take

____________________.

3 Owners of new firms generally

work very ____________________ –

for example, completing the

firm’s accounts in the evening.

4 As the business grows the owner needs to learn to __________

responsibility to ____________________ – not easy if the owner has built

the firm up single-handed.

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The Big Idea

www.virgin.com/entrepreneur 

So, you're onto a winner?We’re always looking for the next BIG thing. Especially if it builds on ourexciting businesses or creates brand new ones. All our Virgin companieslive and breathe our core brand values and all new proposals or ideasneed to reflect these values.

 They are:

• Championing the consumer• Offering value for money • Delivering a quality product / experience • Driving innovation • Competitively challenging • And of course, having FUN!

We’ve now been around for some 30 years or so. Over the years the Virgincompanies that we’ve found to be most successful for us are ones that:

• are marketing, sales and customer service focused• use the Virgin brand• have a well defined and different customer offer• often delivered in partnership with experts in their field

So if you think you’ve an idea that fits the bill and has the potential tobecome a major global business, we are open to your ideas.

TASK 7:

 You have been asked by Business Gateway (a Government agency) todesign a promotional poster to encourage young people like yourself to setup in business.

 Your poster should advertise the benefits of starting up a new business. Itshould be bright, lively and informative.

 You may make use of any software package to produce your design.

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Peter Jones - 10 Golden Rules

TASK 8:

What are 10 Golden Rules for business success according to Peter Jones?

1

2

3

4

5

6

7

8

9

10

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Risk in Setting up a Business

Some of the risks associated with starting a businessinclude:

• __________________________________________________

• __________________________________________________

• __________________________________________________

• __________________________________________________

TASK 9:

Business Success and Business Failure

What helps to make a business a success?

Access the following website, complete the task and printout foryour notes.

www.tinyurl.com/whatisenterprise

Pitch TV Episodes

As part of its 25th Anniversary celebrations, Virgin Atlantic has

launched a new show, PitchTV, which is airing onboard. They are

inviting entrepreneurs who are in search of investment and exposure

for their business ideas to upload short video pitches.

 The website community vote for their favourite video pitches and each

month, the winning videos will feature as part of Virgin Atlantic's

PitchTV show which will air on their in-flight entertainment system -

gaining exposure to the hundreds of business professionals who regularly

fly Virgin Atlantic. Anyone interested in hearing more about the most

popular entrepreneurs' business ideas will then be able to get in contact

and maybe help take their ideas further.

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TASK 10a:

Episode 1 – June 2009Notes

TASK 10b:

Episode 2 – July 2009Notes

TASK10c:

Episode 3 – August 2009Notes

TASK 10d:

Episode 4 – September 2009Notes

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Do you have Enterprising Qualities?

In order to run a successful business it is important to know what yourpersonal strengths and weaknesses are.

• How ____________________ are you?

• Are you ____________________ in your thoughts?

• Do you have the ____________________ required to succeed?

• Are you ____________________ and learn from experience?

• Are you __________-averse?

• Can you make decisive ____________________?

• Are you a born ____________________?

• How ____________________ are you?

TASK 11:

Complete your enterprise profile (your teacher will provide youwith the required worksheet).

What are your top 3 enterprising qualities?

•

 

•

 •  

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Developing Further Skills

 You might feel that although you have an entrepreneurial nature that you

don’t have all the skills that you require in order to set up a business.

 You might want to start a business in an area that you have never had

experience in before.

 This might mean that you require further training before you start.

Learn Direct Scotland is an organisation that wants you to get more out of 

life. They believe that learning something new can help you build your

confidence, improve your job prospects and boost your career.

 You might want to work in catering but

have no hygiene certificate, or be a

mechanic but have no formal training.

TASK 12a:

 Access the Learn Direct website at www.learndirectscotland.com

and in the menu chose “Who are we?”

Fill in the blanks below

 The Scottish Government would like everyone to be able to carry on

learning right ______________________________ - whether it's to get a

__________, improve existing __________ or just to find out about

something because it's ____________________. At Learn Direct Scotland

we help to do this by showing people, like you, __________, __________

and __________ you can learn in the way ______________________________.

We encourage people from ______________________________ or those

who, for whatever reason, have lost their confidence in __________ to

find a way back into learning. We can help you develop your

knowledge and abilities or extend your ____________________ skills.

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TASK 12b:

 Access the Learn Direct website at www.learndirectscotland.com and in the menu choose “Why learn?”

Fill in the blanks below

Every day, people in ____________________ are changing their lives through

learning.

Learning something new can help you to

• ______________________________

• ______________________________

• ______________________________

It can be a way to gain new confidence and discover __________ you never

knew you had. It can be a way to ______________________________ and have

a bit of fun. If you feel you're in __________ it could help you escape.

Even if you didn't like learning when you were at school, we can help you

find a way to ____________________.

We help ____________________ of people to learn

______________________________. It doesn’t matter whether or not you’ve got

children. It doesn’t matter if you’ve worked for __________, or just

____________________. Young, old, male, female, working, not working…

we’ve helped them all. Let us help you too.

TASK 12c:

 Access the Learn Direct website at www.learndirectscotland.comand in the menu chose “Why learn?”

Read the case studies at the bottom of this section.

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TASK 12d:

 Access the Learn Direct website at www.learndirectscotland.comand in the menu chose “Where to learn?”

Where does Learn Direct Scotland suggest you can learn a newskill?

•  

•  

•  

•  

•  

•  

•

TASK 12e:

As part of a new promotional campaign, Learn Direct has commissionedyou to produce a poster/leaflet to advertise their services.

 Your poster/leaflet should advertise the services provided by LearnDirect and the benefits of additional training to your future success.

 You may make use of any software package to produce your design.

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Ownership Structure

In Unit 1 you will have learned about the 4 main types of business ownership. Fill in the table below to refresh your memory.

Type of Ownership Short Description

Franchises

A ____________________ may grant a __________ allowing a

____________________ to sell and market its products or services in a fixed

____________________ area.

Examples of franchise companies (can you work them all out?):

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For more information on franchises visit www.whichfranchise.com

TASK 13a:

A franchise opportunity available in the mobile coffee market.

Watch the video clip and jot down some notes below:

TASK 13b:

A franchise opportunity with the aim to deliver consistently greatfood and coffee, with award winning service in contemporarysurroundings.

Watch the video clip and jot down some notes below:

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TASK 14: In groups you are going to investigate the benefits of opening a Baguette Express franchise.

 You should prepare a presentation on A3 paper todemonstrate your findings.

Some areas you might like to cover include (theseare not exhaustive):

• What is “Baguette Express”?

• What are their aims?

• What would you want to invest in a Baguette Express franchise?

• Do they offer potential franchisees any support?

• Can I set up a franchise in any area I choose?

• What investment do I need to make?

TASK 15:Imagine that you have the chance to speak with afranchisor or a franchisee what questions would youask them?

 This could be about setting up a franchise business(as either the franchisor or franchisee). Alternatively it

could be on the topic of starting a new business andthe risks and rewards involved.

Discuss in pairs and write your questions below:

•

•

•

•

•

•

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