8/26/2010 Senior High Lesson Plans - 12 Econom…

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Senior High Lesson Plans : 12 Economics LP032 Business Organization - Sole Proprietorship,
Partnership, Corporation

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Title Date Created: 9/28/2009 7:33 PM

12 Economics LP032 Business Organization - Sole Proprietorship, Partnership, Corporation Originator: 9-12ss
Owner: 9-12ss
Last Modified: 5/4/2010 8:57 PM
Last Modified By: 9-12ss

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Grade
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12
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Subject
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SOCIAL STUDIES - Grade 12

Course
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ECONOMICS (2102140Z)

DESCRIPTION/ ABSTRACT OF LESSON

This lesson is designed to help students discover the different ways of organizing a business in the United
States. They will first participate in a small-group learning activity and then be asked to present their
information orally and in writing.

OBJECTIVE(S)
IVB1 Compare the advantages and disadvantages of the three types of business organizations; i.e., sole
proprietorships, partnerships, and corporations.

TEACHER MATERIALS/ TECHNOLOGY CONNECTIONS

textbook, nine pieces of poster-sized construction paper (three of each selected color, see note to
teacher in step #7 Steps to Deliver Lesson), markers, overhead projector, transparencies 8A, 8B and 8C
from Economics: Principles in Action Transparency Resource Package

STUDENT MATERIALS/ TECHNOLOGY CONNECTIONS

Chapter 8: Business Organizations from the student textbook, use of construction paper and markers

Duration
55 Minutes

ESSENTIAL QUESTION/ KEY VOCABULARY

sole proprietorship, partnership, corporation, merger, horizontal merger, vertical merger, conglomerate

LESSON LEAD IN / OPENING

Ask if anyone has a family member or friend who started a business. Explain that owning a business in the
United States is a goal of many people and part of their "American Dream". Ask if any students in the
class would like to work for themselves someday.

STEPS TO DELIVER LESSON

1. Explain to students that the United States, with its market-based economy and belief that the means
of production should be privately owned, supports people owning their own businesses.
2. Explain that as they know, and have seen in earlier class lessons, some businesses can become very
large and powerful, but most are much smaller.
3. Tell students that they will learn about the three primary types of business organization, or ways of
organizing a business, in the United States.
4. Write the name of each type of business organization on the board - sole proprietorship, partnership
and corporation - and briefly explain each as you write.
5. Divide the class into six groups.
6. Give one large, poster-size piece of construction paper to each group.
7. Tell the students that each group will be responsible for finding out either the advantages or
disadvantages of one of the types of business organizations and listing them in large writing on the piece

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8/26/2010 Senior High Lesson Plans - 12 Econom…
disadvantages of one of the types of business organizations and listing them in large writing on the piece
of construction paper. Each group will also be responsible for explaining their portion of the lesson to the
class and will use the construction paper as a visual. The individual pieces of construction paper will then
be used to create a bulletin board display. (Note to teacher: You may want to use three different colors of
construction paper to make the information on the bulletin board easier to differentiate. For example, use
blue for sole proprietorships, yellow for partnerships and green for corporations.)
8. Give each group their assignment. For example, one group with blue construction paper will list and
describe the advantages of a sole proprietorship and the group with the other piece of blue construction
paper will list and describe the disadvantages of a sole proprietorship.
9. Give students approximately 20 - 25 minutes to read their assigned section in Chapter 8 and complete
their lists. Assist students as necessary.
10. Beginning with the advantages of sole proprietorships, have each group present and discuss the lists
they generated.
11. After each group shares and discusses their list, staple construction paper in the appropriate spot on
the bulletin board. If a centrally located bulletin board is unavailable, use non-stick tape to create a wall
display. Include a definition of each type of business organization written on the apprpriate color-coded
construction paper in the display, giving the classroom a focal point for the unit.
12. After student presentations, use visuals 8A Business License Application (for sole proprietorships), 8B
Partnerships, 8C Corporate Structures to wrap up discussion about the three types of business
organizations.
13. Explain to students that sometimes new businesses are formed from the creation of old businesses,
which is called a merger.
14. Explain and give examples of each type of merger: horizontal, vertical and conglomerate.

LESSON CLOSURE
As closure, stand next to the newly created bulletin board and review with students the three main types
of business organization and explain that if they do ever own their own business, they will need to decide
for themselves, based on the advantages and disadvantages of each, which would be the best form of
business organization for their particular case.

ASSESSMENT
Teacher observation of small-group learning and class discussion. Grade student presentation.

GROUPING FOR INSTRUCTION

Small Group,Whole Group

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