Creating Partnerships

Overview

This lesson focuses on creating an effective partnership agreement tailored to the context of Australian business practices. It aligns with the Australian Curriculum’s Business Studies standards for Year 11, particularly focusing on business development and management.

Curriculum Links

• Curriculum Area: Business Studies
• Level: Year 11
• Content Descriptions:
  • "The range of factors that influence the outcomes of business decisions."
  • "Business environments and degree of competition."
  • "Key features of business management and structures in Australia."

Lesson Objectives

By the end of the lesson, students will be able to:

1. Understand the importance and components of a partnership agreement.
2. Draft a basic partnership agreement using a real-world scenario.
3. Evaluate the effectiveness of a partnership agreement.

Materials Needed

• Whiteboard and markers
• Projector and screen
• Handouts of sample partnership agreements
• “Partnership Building” worksheets
• Laptops/tablets for group work

Lesson Structure

Introduction (5 minutes)

1. Welcome and Objective Overview

   • Briefly introduce the lesson's focus on partnership agreements.
   • Explain the significance of partnerships in Australian businesses.

2. Engagement Activity

   • Ask students: "What are some businesses that operate as partnerships that you're familiar with? Why might they choose a partnership model?"

Direct Instruction (10 minutes)

1. Explain Key Concepts

   • Define what a partnership is, focusing on legal and operational aspects.
   • Discuss essential components of a partnership agreement: profit-sharing, management responsibilities, partnership duration, etc.

2. Australian Context

   • Explain the legal requirements for partnerships in Australia, touching on registrations and compliance.

Guided Practice (15 minutes)

1. Case Study Analysis

   • Divide students into six groups, provide a brief case study of a fictional business needing a partnership.
   • Distribute handouts of sample partnership agreements.

2. Group Activity

   • Each group analyses the case study and discusses what elements are crucial for their particular scenario.
   • Groups present their findings, focusing on at least one unique element impacting their partnership agreement.

Individual Practice (15 minutes)

1. Drafting a Partnership Agreement

   • Using “Partnership Building” worksheets, each student drafts a simplified partnership agreement.
   • Ensure inclusion of key components discussed and relevance to Australian business law.

2. Peer Review

   • Pair students to swap and review partnership agreements. Use a guided checklist to provide constructive feedback.

Conclusion (5 minutes)

1. Class Reflection

   • Facilitate a brief discussion on what students found challenging or interesting about drafting partnership agreements.

2. Recap and Next Steps

   • Recap key points of the lesson and link to future topics such as resolving disputes in partnerships and transitioning business structures.

Assessment

• Formative Assessment: Monitor student participation during group discussions and provide immediate feedback on their partnership agreements during individual practice.
• Peer Assessment: Use the checklist during the peer review session to ensure understanding of partnership agreement components.

Extension Activity

Encourage interested students to research a well-known Australian partnership’s development and evolution, highlighting changes in their partnership agreement over time.

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Emphasising practical application, collaboration, and peer learning within an Australian business context will engage students in understanding how partnership agreements are pivotal in the real world.