Task on Entry: Famous Entrepreneur Presentations (15 minutes)

Go through each other’s posters and give feedback

We’ll vote for

the best ones
to go up on our
class display.
 Take Up Documentaries Home Learning

• Zuckerberg: https://youtu.be/5WiDIhIkPoM Warren Buffet: https://youtu.be/RYHPlLsdW0A

One

What are your key takeaways

from these?

What can you apply in your

own life?
 Fun Quiz!

1.  Started business aged 5 by buying matches in bulk to sell at low

prices for a small profit margin?
2.  Created one of the USA’s largest cosmetics companies using just
$5,000 start-up capital when she was 45?
3.  Failed his English proficiency exams three times before becoming
an English teacher, giving it all up to create the world’s largest B2B e-
commerce business by sales revenue?
4.  Gave up his place at Stanford to complete his PhD in order to
pursue his business interests?
5.  Started his business by selling books online, storing them in his
otherwise underused garage?
  Quick Quiz – Answers
1.  started business aged 5 by buying matches in bulk to sell at low prices for a small profit
margin?
Ingvar Kamprad - Founder of IKEA
2.  created one of the USA’s largest cosmetics companies using just $5,000 start-up capital when
she was 45?
Mary Kay Ash - Founder of Mary Kay Cosmetics, Inc.
3.  failed his English proficiency exams three times before becoming an English teacher, giving it
all up to create the world’s largest B2B e-commerce business by sales revenue?
Jack Ma - Founder of Alibaba
4.  gave up his place at Stanford to complete his PhD in order to pursue his business interests?
Elon Musk - Co-founder of Tesla
5.  started his business by selling books online, storing them in his otherwise underused garage?
Jeff Bezos - Founder of Amazon, and the world's wealthiest man according to Forbes Rich List
2020
Lesson 3: Ways in which businesses can be organised
 LEARNING OBJECTIVES
All will be able to explain the difference between public
and private sector businesses.

Most will be able to explain characteristics of sole

traders, partnerships, and limited liability companies.

Some will be able to explain characteristics of public

limited companies along with the meaning of shares,
limited liability, unlimited liability.
 Connect : 10 minutes
1. List 10 items that the government in UAE provides you
with.
2. Which companies provide these goods/services?
3. List 10 items that you need to buy.
4. Which companies provide these goods/services?
5. Which items does the UK government provide which the
UAE government doesn’t? Explain 2-3 reasons for this.
Post your response to the questions in the Discussion
Channel
 What’s the difference?

• Public sector businesses are owned and/or controlled

by the government and therefore the ‘public’ own them
• Private sector businesses are owners and/or controlled
by private individuals

Give three examples of businesses in each sector….post

your answers in the Discussion Channel
 Economy
The size of each
sector within the
economy is different
Public Sector for each country.
(all businesses owned by
the government form Which one do you
the public sector)
Private Sector think is most likely
(all businesses owned bigger for the UAE?
by individuals or groups
form the public sector)
Post your answer in
the Discussion
Channel (what
guided your choice?
 Examples

Examples of private sector Examples of public sector businesses:

businesses:
• Infrastructure (such as communication
• Zara networks, transportation networks, road
• H&M and highway networks, waste
disposable systems, and flood control
• GEMS systems)
• Ikea • Housing (public and social housing)
• Health care services
• Education
• National defense (national security)
• Emergency services (ambulance, fire
and police)
 Private Sector
Firms owned privately by individuals or groups form the private
sector.

These can be organised as:

1. Sole traders
2. Partnerships
3. Limited Liability Companies
1. Private Limited
2. Public Limited
 Collaboration 30 minutes
Work in your allocated groups groups. Each group has
a list of questions to research and complete the
relevant section on the worksheet.
Use Business Textbook pages 19-31 and your own
research
Everyone in the group to contribute. I will be checking
in on the groups to see how you are getting on:
 Group 1

You will investigate sole traders and complete one section of

the given worksheet

1) Definition of sole traders

2) Definition of unlimited liability
3) Advantages
4) Disadvantages
5) Real life examples
 Group 2

You will investigate partnerships

1) Definition of partnership
2) Definition of limited liability
3) Definition of unlimited liability
4) Advantages
5) Disadvantages
6) Real life examples
 Group 3

You will investigate private limited companies and complete

one section of the given worksheet

1) Definition of private limited company

2) Definition of limited liability
3) Definition of unlimited liability
4) Advantages
5) Disadvantages
6) Real life examples
 Group 4 + 5

You will investigate public limited companies and complete

one section of the given worksheet
1) Definition of a public limited company
2) Definition of a public company
3) Definition of limited liability
4) Definition of unlimited liability
5) What are shares?
6) What is a stock market?
7) Advantages of forming a public limited company (PLC)
8) Disadvantages of forming a public limited company (PLC)
9) Real life examples
 Group Presentations Next Week 30 minutes

Your group will present to the class next week and you all will
need to use other group’s info so that you can complete the
worksheet in full

10 minutes per group

Do not copy/paste
Ask questions when you don’t understand something