Business Basics: Introduction to Key Concepts

WALT: We Are Learning To understand what a business is and identify key business types Year 11 NCEA Commerce 60 minutes

What is a Business?

An organisation that provides goods or services to customers Aims to meet customer needs and wants Operates to make a profit (usually) Plays a vital role in our economy and community

Core Business Functions

Production: Creating goods or services Marketing: Promoting and selling products Finance: Managing money and resources Human Resources: Managing people and staff

Types of Business Ownership in New Zealand

Business Matching Challenge

Work in groups of 4-5 students Match local business cards to business types Discuss the purpose of each business Identify which business function is most important for each example

Think and Discuss

Why might a business owner choose to operate as a company rather than a sole trader? What are the benefits and drawbacks of each business type? Can you think of a business in your community for each type?

Business Purposes in Our Community

{"left":"Provide essential goods and services\nCreate employment opportunities\nGenerate income and wealth","right":"Pay taxes that fund public services\nSupport local communities\nDrive innovation and progress"}

Success Criteria Check & Next Steps

Can you define what a business is? Can you name the four main business types in NZ? Can you explain why businesses are important? Next lesson: How businesses determine prices