Course Profiles

Course Profile Introduction to Business, Grade 9 or 10 open, Public

Unit #2: The Role and Impact of Business

Time: 15.5 hours

Development Date: March 1, 1999

Unit Description

Students are introduced to various types of business ownership, distinguishing features and advantages and disadvantages of each. They will research growth trends in businesses and business sectors. An evaluation of the impact of businesses on the community includes how businesses influence standards of living and quality of life, social and environmental issues in the community and change in the community.

Strand and Expectations

Strand: The Role and Impact of Business

Overall Expectations

Students will:

• RBV.02X compare types of businesses;

• RBV.03X demonstrate an understanding of the impact of businesses on their community.

Specific Expectations

Types of Businesses

Students will:

• RB2.04X compare the features of sole proprietorships, partnerships, corporations (public, private and crown) and cooperatives;

• RB2.05X identify the types of businesses and business sectors that have experienced the greatest growth in recent years;

• RB2.06X explain why a person or group of people may choose to establish one type of business rather than another (e.g., consider start-up costs, availability of financing and skills, level of risk, complexity of production, resource requirements).

Impact on Community

Students will:

• RB2.07X describe how businesses can generate wealth, jobs and incomes, and influence standards of living;

• RB2.08X distinguish the various ways in which business activity can affect the quality of life (e.g., level of income, products available, environmental impact, stress in the workplace);

• RB2.09X investigate issues in their community that have been created or affected by business (e.g., land use, environment, traggic, health and safety, emplyment);

• RB2.10X explain the impact that business activity has on the changes occurring in their community.

Activity Titles, Time and Sequence

Activity 1	Types of Businesses	8.5 Hours
Activity 2	Understanding the Role and Impact of Business	7.0 Hours

Unit Planning Notes

• Invite guest speakers and brief on topics requested.

• Do a personal “walkabout” to familiarize yourself with the student assignment.

• Copy all handouts for student distribution.

• Review Graffiti steps.

• Review “What If” process.

Prior Knowledge Required

• Familiarity with completing crossword puzzles.

Teaching/Learning Strategies

Activity Based

• Field Trip

• Interview

• Oral Discussion

• Panel Discussion

Cooperative Learning

• Small Group Cooperative Learning

• Brainstorming

Direct Instruction

• Focused Questioning

• Guest Speakers

• Worksheets

Independent Learning

• Homework

• Research

Thinking Skills

• Brainstorming

• Graphic Organizers

• Problem Solving

Assessment/Evaluation

Refer to the course overview for the purposes of evaluation. The methods used in this unit are:

1. Formative assessment of worksheet;

2. Summative assessment of career research;

3. Summative assessment of crossword puzzle;

4. Formative observation of chart;

5. Formative observation of Note Making Guide;

6. Formative assessment of letter.

Resources

1. The World of Business

2. Exploring Business

3. Mastering Keyboarding Skills 1

4. Crossword Creator (software)

5. The Edge

6. Local Media

7. The World of Business video series

Activity #1: Types of Businesses

Time: 8.5 hours

Description

Students will distinguish among the various types of business ownership. They will examine the features of each type and identify the advantages and disadvantages of each type of business ownership.

Strand and Expectations

Strand: The Role and Impact of Business

Overall Expectation

Students will:

• RBV.02X compare types of businesses.

Specific Expectations

Students will:

• RB2.04X compare the features of sole proprietorships, partnerships, corporations (public, private and crown), and co-operatives;<

• RB2.05X identify the types of businesses and business sectors that have experienced the greatest growth in recent years;<

Planning Notes

• Invite the guest speaker(s) and brief on topics requested.

• Do a personal “walkabout” to familiarize yourself with student assignment.

• Copy handout, Appendix A 2.2 for students to use as a worksheet for their walkabout.

• Copy handout, Appendix A 2.3, Career Research

• Copy handout, Appendix B 2.1, Crossword Puzzle.

Prior Knowledge Required

• Familiarity with completing crossword puzzles.

• Familiarity with the stock market.

Teaching/Learning Strategies

1. The teacher will lead a discussion to bring out existing knowledge students have regarding types of business ownership. This may include information about businesses they are familiar with in the community run by parents, relatives or friends of the family and will lead into the presentation by the guest speaker(s).

2. The teacher will invite an economic development officer, business representative, lawyer, accountant and/or banker to talk to the class about different types of business ownership. This should include features, start-up costs and the availability of financing. The teacher will distribute the Note Making Guide.

3. Now that students are familiar with the different types of business ownership, the teacher will engage them in a discussion of the advantages and disadvantages of each type. In addition to the features previously presented, discussion should focus on availability of skills, level of risk, complexity of production and resource requirements.

4. Students will transcribe their notes into chart summary form (Appendix A 2.1) for ease of reference.

5. Students will add the terminology from this activity to their Dictionary of Key Words.

6. The teacher will set up a community “walkabout” to a mall or business area in the community. Using handout, Appendix A 2.1, students will identify the businesses, the needs and wants satisfied by those businesses and the type of business ownership. The teacher will review safety procedures for field trips.

7. The teacher will invite Student Services to lead a discussion about careers and career planning. This will include occupational information, trends and sources of information for student reference. The teacher will lead a discussion on the importance and value of work.

8. Using handout, Appendix A 2.3, Career Research, each student will research a career of their choice.

9. The teacher will use crossword puzzle, Appendix B 2.1 to assess student’s knowledge of unit terminology.

Assessment/Evaluation Techniques

1. Formative assessment of worksheet, Appendix A 2.2 (RB2.04X)

2. Summative assessment of career research, Appendix A 2.3 (RB2.05X,06)

3. Summative assessment of crossword puzzle, Appendix B 2.1 (RB2.04X)

Resources

1. The World of Business, pages 58–74

2. The World of Business video series, Unit 1, Programs 2 and 4

3. Exploring Business, pages 51–68

4. Crossword Creator (software)

5. The Edge, Human Resources Development Canada

Accommodations

1. Prepare note outlines for students to follow the presentations/discussions on types of businesses.

2. Provide models of charts.

3. Pair students with peers for the “walkabout.”

4. Provide new vocabulary in advance.

5. Provide opportunities for modification of summative assessment.

Activity #2: Understanding The Role and Impact of Business

Time: 420 minutes

Description

Students will develop an understanding of the role and impact of business. They will examine issues in the community that have been created or affected by business and explain the impact business has on their quality of life and standard of living.

Strand and Expectations

Strand: The role and Impact of Business

Overall Expectation

Students will:

• RBV.03X evaluate the impact of businesses on their community.<

Specific Expectations

Students will:

• RB2.07X describe how businesses can generate wealth, jobs, and incomes, and influence standards of living;<

• RB2.08X distinguish the various ways in which business activity can affect the quality of life (e.g., level of income, products available, environmental impact, stress in the work place );<

• RB2.09X investigate issues in the community that have been created or affected by business (e.g., land use, environment, traffic, health, safety, employment);

• RB2.10X explain the impact that business activity has on the changes occurring in the community.<

Planning Notes

• Provide handout 2.3 for each student in the class.

• Review Graffiti steps – see course notes

• Review What If process

• Invite guests for a panel discussion – distribute Note Making Guide

Prior Knowledge Required

None

Teaching/Learning Strategies

1. Statistics Canada divides the Canadian economy into nine industry sectors. These are business, personal and community services; retail trade; construction; resources; wholesale trade; manufacturing; finance, insurance and real estate; transportation and communication; and public administration. The teacher will list these sectors on the blackboard or on an overhead and elicit examples of each sector from the class. The teacher will explain the sectors.

2. Working in pairs, the students will complete the chart in handout A 2.4, brainstorming at least four examples for each sector.

3. The teacher will invite up to three guests from student services, co-op department, the teacher librarian, a person from the career centre, a member of the local board of trade, business person, or, for that matter, anyone that you feel could contribute to a panel discussion on which businesses and business sectors have experienced the greatest growth in the past few years. The teacher will provide students with the Note Making Guide before the panel discussion begins and debrief the panel discussion.

4. The teacher will organize the class into groups of four or five. Following the steps in Graffiti, students will write the heading “Ways in which Businesses Affect Our Quality of Life”. The students will divide the page in half – one side for positive effects, the other side for negative effects. Follow the Graffiti steps until the exercise is over. Each group will read, discuss and summarize their Graffiti ideas. Students will reflect on their Graffiti experience in their response journals.

5. Students will prepare a list of products in their homes that have affected their own or their family’s quality of life. For each product, the students will explain the effect. For example, a microwave oven – effect – convenience, speed, cost efficient, etc. The teacher will generate a discussion on the overall impact businesses have had on our quality of life.

6. The teacher will divide the class into groups of four to six students. Using the What If technique handout A 2.4, the students will brainstorm a business activity in their community that could have a positive and negative impact on the community. These activities can be real or hypothetical. For example, “what if” the corner store sells cigarettes to minors? “What if” the local industry pollutes the river? “What if” the local clothing manufacturer decides to close its plant? And so on. The teacher will lead a discussion on ethical business practices. Once the exercise is complete, the teacher will review the correct format for writing a letter to the editor of a newspaper. Have newspapers available for examples.

7. Students will peer edit the letters and then prepare a final draft.

In reviewing the format pay particular attention to:

• the address of the newspaper;

• length of the letter ( between 100 and 300 words);

• the salutation and closing;

• correct grammar and spelling.

The students will submit a letter. Some of these letters could be forwarded to a local newspaper or a school newspaper or newsletter.

Assessment and Evaluation

1. Formative observation by the teacher of the industry sector chart (RB2.08X)

2. Formative observation of the Note Making Guide (RB2.07X)

3. Summative assessment of letters to the editor. (RB2.10X)

4. Summative test on the unit (RBV.03X)

Resources

1. The Entrepreneurial Spirit, page 6

2. Keyboarding Text

Accommodations

1. Provide oral preplanning of activities with students.

2. Provide outlines of critical information.

3. Provide photocopies of the teacher’s notes.

4. Brainstorm in pairs in first language if English is limited.

5. Organize balance groups to reflect the diversity of the class.

6. Allow additional time to complete assignments and assessment instruments.

7. Provide opportunities for modification of summative assessment.

Appendix A 1.1

Unit Terminology

• Needs –an item necessary for survival. Examples include, food, clothing, shelter.

• Wants –an item not necessary for survival but which adds pleasure and comfort to life.

• Goods –items that have monetary value and which can be seen and touched.

• Services –assistance provided, usually in return for payment, to satisfy needs/wants of people or business. The service cannot be touched.

• Essential Goods –items that can be seen and touched and are necessary for survival.

• Essential Services –assistance provided that is essential for survival. Examples include lighting, heating and water.

• Luxury Goods –items that can be seen and touched but are not necessary for survival.

• Luxury Services –assistance provided that is not necessary for survival.

• Producers –individuals and/or businesses that make a product.

• Consumers –persons who buy goods and services. They can also be referred to as customers.

• Demand –the willingness and ability of consumers to pay for a product or service.

Other terms to cover:

The students can use the word list to add to their Dictionary of Key Words.

Appendix A 1.2

PEOPLE BINGO

Needs a new pair of jeans

Name:

Needs regular dental checkups

Name:

Wants a ride to school

Name:

Wants to own “wheels”

Name:

Wants contact lenses

Name:

Wants to have own private bathroom

Name:

Wants a part-time job for after school

Name:

Wants a bag of chips and a pop

Name:

Needs glasses

Name:

Wants a designer label pair of jeans

Name:

Wants front-row concert tickets

Name:

Needs a part-time job to save for college

Name:

Needs a home to live in

Name:

Wants a CD player

Name:

Needs a ride to school

Name:

Wants to go on a skiing holiday

Name:

Wants cosmetic orthodontic work done

Name:

Needs a nutritious breakfast

Name:

Needs new running shoes

Name:

Needs bus transportation to school

Name:

My Needs My Wants

Age 70

Move to condo

Retire

Kids grown up – leave home

House paid for!

Big promotion!

New job at higher salary

Second child

First child

First house

Get married

Full-time job

Graduate College/University

Start College/University

Complete highschool

Grade 9

Spend!!

Cash RSPs

Buy stocks, bonds, GICs and mutual funds

RSP investments stop

More GICs and Bonds to RSP, fewer mutual funds

Maximize RSP contributions

Add some GICs to RSPs

Increase RSP contributions (mutual funds)

Cash CSBs

Reduce RSP contributions– buy CSBs

Internet banking

Regular RSP contributions (mutual funds)

Chequing account

ABM card

Already have savings account

Appendix A 1.5 Personal Portfolio

Name ___________________________________ Date ____________________

		^{Initial Investment date___________}				^{Date _____________}			^{Date _____________}
^{Stock Name}	^Symbol	^{# of shares}	^Price/share	^{Total cost}	^Price/share		^{Total value}	^Price/share		^{Total value}

_Symbol	^{Date _____________}			^{Date _____________}			^{Date _____________}			^{Date _____________}
	^Price/share	^{Total value}	^Price/share		^{Total value}	^Price/share		^{Total value}	^Price/share		^{Total value}

_Symbol	^{Date _____________}			^{Date _____________}			^{Date _____________}			^{Date _____________}
	^Price/share	^{Total value}	^Price/share		^{Total value}	^Price/share		^{Total value}	^Price/share		^{Total value}

Appendix 1.6 Credit Use Interview

Locate a family member, family friend, neighbour or teacher who has used credit and ask for their assistance with your assignment by answering the following questions. Record their answers accurately so that you can use the information to contribute to group work.

1. Please indicate which of the following forms of credit you have used?

o credit card

o charge card

o consumer loan

o line of credit

o mortgage

2. List 5 items that you have purchased on credit:

•

3. In your experience, what are the benefits of using credit?

•

4. What disadvantages have you found in the use of credit?

•

Thank you for your assistance.

Appendix A 1.7 Calculating The Cost of Total Credit

Calculate the total cost of credit in each of the following examples:

1. Anwar purchases a car with a selling price of $16,950.00. He puts $4000.00 down and pays the $416.45 each month for 36 months.

2. Vernanda decides to lease a car for two years. She puts 0 money down and pays $209.15 per month for 24 months. At the end of the lease, Vernanda can buy the car for $11,345. The selling price for the car today is $13,500.00. What is the total cost of the car if Vernanda buys it at the end of the lease?

3. A living room suite is advertised for $890. No payments are required for 12 months. At the end of twelve months, Jessica finds she has to pay $1075. What is the total cost of credit?

4. The bank offers Nabat a car loan for 48 months at a rate of 13%. Nabat buys a car for $23,890. She puts $3000 down and takes the bank loan for the balance. What is the total cost of the car?

5. If Nabat puts down $7,500 how does that affect the total cost of the car?

6. Ivan buys a snowmobile for $2,200. He pays with his credit card. When he gets the bill, he pays in full before the due date. What is the total cost of the snowmobile?

Appendix A 1.8 Budgeting and Financial Planning

A budget is a way of managing your finances. It gives an overview of where your income is coming from and what your savings, expenses and investments are. A budget needs to be flexible and change as your goals change.

When preparing a budget the following categories should be included:

Monthly Income

Refer to Activity #3 for the different sources of monthly income.

Fixed Expenses

Bills that tend to be the same month after month or year to year. Items that fall in this category include:

Appendix A 2.1 Types of Business Ownership

Complete the following chart by defining each type of business ownership and listing the advantages and disadvantages of each type.

Consider start-up costs, availability of financing and skills, level of risk, complexity of production and resource requirements.

^DEFINITION	^ADVANTAGES	^{DISADVANTAGES}
_{SOLE PROPRIETORSHIP}
_PARTNERSHIP
_CORPORATION
_COOPERATIVE

Appendix A 2.2 Community Walkabout

^BUSINESS	^NEED/WANT	^{TYPE OF BUSINESS OWNERSHIP}
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Appendix A 2.3 Career Research

Using some of the sources discussed in class, do an independent study of an occupation of your choice.

Name of Occupation:_____________________________________________________________

What are the specific duties and responsibilities?

______________________________________________________________________________

What education is required?

______________________________________________________________________________

What special qualifications are needed? (e.g. age, licence, physical)

______________________________________________________________________________

List the advantages you see for yourself in this occupation.

______________________________________________________________________________

List the disadvantages you see for yourself in this occupation.

______________________________________________________________________________

What is the entry income? Top income? Opportunities for advancement?

______________________________________________________________________________

What are the future growth trends anticipated in this career?

______________________________________________________________________________

Identify resources used for this assignment.

______________________________________________________________________________

Appendix A 2.4 Industry Sector Chart

Industry Sector Examples

_{Business, personal and community services}
_{Retail trade}
_Construction
_Resources
_{Wholesale trade}
_{Manufacturing}
_{Finance, insurance and real estate}
_{Transportation and communication}
_{Public administration}

Appendix B 1.1

COLLAGE/PRESENTATION ASSESSMENT/EVALUATION

^Criteria

^{Level 1}

^{Level 2}

^{Level 3}

^{Level 4}

Commitment to Task

Rarely focuses on task

Rarely perseveres with tasks(s), when faced with problems

Rarely uses time effectively to complete task(s)

Focuses on task some of the time

Sometimes perseveres with task(s), when faced with problems

Sometimes uses time effectively to complete task(s)

Focuses on task most of the time

Frequently perseveres with task(s), when faced with problems

Frequently uses time effectively to complete task(s)

Almost always focuses on task