Influences on Business

Overview

In this 60-minute lesson, students will explore the external influences on businesses, specifically focusing on economic, political, legal, and environmental factors. By engaging in collaborative activities and discussions, students will develop a comprehensive understanding of how these elements impact business operations and decision-making.

Learning Objectives

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

1. Identify and explain at least four external influences on business.
2. Demonstrate the impact of at least one external influence through a group activity.
3. Reflect on how businesses adapt to these influences.

Curriculum Link

This lesson ties into the Edexcel GCSE Business specification, particularly focusing on Unit 1.2.4: "External influences on business."

Resources Needed

• Whiteboard and markers
• Projector and screen
• Printed case studies of local businesses
• Sticky notes
• Flip chart paper
• Markers or pens
• Laptops or tablets (if available)

Lesson Structure

Introduction (10 minutes)

1. Warm-Up Activity: Begin with a quick brainstorming session. Ask students to identify any changes they’ve noticed in local businesses (e.g., shop closures, new openings). Write their responses on the board.

2. Objective Sharing: Briefly explain the lesson objectives and identify the key external influences: economic, political, legal, and environmental factors.

Main Activity 1: Group Research (20 minutes)

1. Group Formation: Divide the class into five groups of five students each. Assign each group one external influence to research—economic, political, legal, or environmental factors.

2. Research Task: Each group is to use case studies of local businesses provided by the teacher. The task is to identify:

   • The specific external influence assigned to them.
   • How it has affected business operations and decision-making.
   • Real-life examples of how the local businesses have coped with these external influences.

3. Preparation: Groups should summarise their findings on flip chart paper, preparing a short presentation for the rest of the class.

Main Activity 2: Presentations (15 minutes)

1. Group Presentations: Each group will have 2-3 minutes to present their findings, followed by a brief Q&A session from their peers.

2. Peer Engagement: Encourage students to ask questions during presentations, fostering a collaborative learning environment.

Reflection & Discussion (10 minutes)

1. Class Discussion: After all presentations, lead a class discussion evaluating:

   • Which external influences seem most impactful.
   • Why understanding these influences is crucial for business success.

2. Reflection Exercise: Ask students to write down one takeaway from the lesson on a sticky note and place it on the wall. Encourage them to reflect on how their local businesses are currently responding to these external factors.

Conclusion (5 minutes)

1. Recap Objectives: Revisit the lesson objectives and assess whether they have been met through student contributions and engagement.

2. Homework Assignment: Assign students to choose a business of interest and research how it navigates external influences. This can be presented in the next class.

Assessment

• Formative assessment through group presentations and participation in class discussions.
• Evaluate students’ understanding based on their contributions and reflections during class activities.

Differentiation Strategies

• Provide additional resources or simplified case studies for students who may need extra support.
• Encourage higher-ability students to dig deeper into one influence and propose innovative solutions businesses could implement.

Resources for Teacher Preparation

• Prepare case study packets in advance.
• Familiarise yourself with any recent changes in legislation, economic policy, or environmental regulations that may affect local businesses.
• Set up the classroom for group work with necessary resources readily available.

By engaging students through hands-on activities, peer collaboration, and practical case studies, this lesson aims to create an immersive learning experience that highlights the dynamic impact of external influences on businesses.