Business Viability Intro

Overview

This 60-minute session introduces Year 12 Business students in New Zealand to the concept of business viability, emphasizing its importance for enduring profitability and sustainability. Students will explore factors affecting a business’s ability to succeed over time and develop key competencies aligned with the New Zealand Curriculum.

Curriculum Alignment

Learning Area: Social Sciences – Economics and Business Level: Year 12 (Level 6) Strands:

Economic Concepts and Strategies
Business Viability and Success Factors

Achievement Objectives:

Understand factors that influence the viability and sustainability of businesses in New Zealand.
Analyse how businesses adapt to changing circumstances to maintain profitability.
Evaluate the role of innovation, environmental, economic, and social considerations in business decisions.

Key Competencies Developed:

Thinking: Analyse and evaluate information about business viability and forecasting.
Using language, symbols, and texts: Develop and present ideas using business terminology.
Managing self: Set learning goals related to understanding business viability concepts.
Relating to others: Collaborate to discuss diverse perspectives on business success factors.
Participating and contributing: Engage actively in group discussions and reporting.

Principles Addressed:

Future focus: Preparing students to understand dynamic business environments and emerging challenges.
Inclusion: Ensuring equity by applying relevant real-world examples from diverse New Zealand contexts, including Māori business perspectives as applicable.

Learning Objectives

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

Define business viability in their own words.
Identify and explain key factors influencing business viability.
Appreciate why understanding viability is essential for future-proofing businesses.
Begin to apply business viability concepts to hypothetical or local business examples.

Resources Needed

Whiteboard and markers
Student notebooks or digital devices for note-taking
Handout summarising key business viability factors (prepared by teacher)
Case study excerpts of New Zealand businesses (could include local and Māori businesses for cultural relevance)
Chart paper and markers for group work
Timer or clock for pacing activities

Lesson Structure

1. Introduction & Engagement (10 minutes)

Activity: Starter Discussion
Ask: What makes a business successful and able to last a long time?
Students share thoughts in pairs then brief whole-class sharing.
Teacher lists ideas on the board under heading “Business Viability?”
Explicit Teaching:
Present a clear definition of business viability: the ability of a business to operate profitably and sustainably over time.
Explain significance: viability ensures businesses can survive economic changes, grow, and contribute to communities.

2. Exploring Viability Factors (20 minutes)

Mini Lecture & Discussion:
Teacher introduces key factors influencing viability, including:
Financial performance (profitability, cash flow)
Market relevance and demand
Innovation and adaptability
Management and leadership
Environmental and social responsibility
External factors like competition and economic conditions
Students ask questions and provide local NZ business examples they know that relate to these factors.
Group Activity:
Divide class into 3 groups. Each group receives a brief case study of a NZ business (diverse types and scales).
Task: Identify and list factors in the case that influence that business’s viability.
Groups prepare a quick presentation/chart describing their findings.

3. Group Presentations and Class Synthesis (20 minutes)

Each group shares their identified viability factors with the class (5 min per group).
Teacher facilitates class discussion, helping students connect case study insights back to the key viability factors.
Emphasise the interconnectedness of these factors and the importance of ongoing business evaluation and adaptation.

4. Reflection and Goal Setting (5 minutes)

Students individually reflect in notebooks:
Why is it important for businesses to understand viability?
What questions would they want to explore further in this unit?
Teacher invites a few volunteers to share reflections aloud.

5. Wrap-Up and Homework (5 minutes)

Recap lesson key points.
Homework: Students bring a news article or story about a successful or struggling NZ business for discussion next lesson, focusing on viability factors.
Preview next lesson: deeper dive into financial viability and profit analysis.

Assessment for Learning

Formative: Teacher monitors pair/share and group discussions for understanding.
Observation of group presentations and reasoning about viability factors.
Student reflections to gauge personal engagement and insight.

Teaching Strategies and Adaptations

Use culturally relevant examples including Māori businesses where possible, aligning with Te Tiriti o Waitangi principles.
Support diverse learners by providing scaffolds such as key terms handouts and sentence starters.
Incorporate technology if available for collaborative research or presentation preparation.
Encourage curiosity and creativity by validating student input and real-world connections.

This lesson carefully balances knowledge acquisition and active student engagement to build foundational understanding of business viability in accordance with the New Zealand Curriculum. It fosters critical Business Studies competencies essential for future learning and decision-making in the "Future Proofing Business Viability" unit.

Teaching Instructions