What is the business enterprise unit about?
The business enterprise unit is an opportunity for students to create and run a real business venture. Students will conduct market research, create financial & marketing plans, and pitch their ideas to obtain financing. The pitch will follow a similar format to that used on Dragon’s Den, a TV programme where entrepreneurs present their ideas to prospective investors.
What do businesses do?
For 2018 the key themes are Added Value and Sustainability
Added value means that the price at which a product sells is greater than the cost of producing it. All successful businesses add value.
Sustainability means that both the production and consumption of the product do not reduce the quality of life for future generations, including the ability to produce and consume products. Sustainable products will have a limited effect on the environment. They require fewer inputs, enable recycling, and produce less waste than other types of product.
Generating Ideas – What business will I create? Who will I create it with?
- Using stickies to generate ideas
- Sort your ideas by placing them on a large piece of paper with the most important in the centre
- Connect ideas together where possible
- Choose the best idea and elaborate – how can we make this work?
Once you have closed in on three or four ideas, you need to know whether people are interested in, and would like to buy, your product(s). It is time to conduct some Market Research.
Assessment 1: Market Research Investigation
Example research proposal and written report
|Sample B – G10 Market Research investigation|