BUSINESS
STUDIES
Yr11 Preliminary
CREDITS
Presentation Magazine – PPT Template
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New Topic:
BUSINESS
PLANNING
…pg 322
Topic: Business Planning
HUMAN
RESOURCES
…pg 381
L3
EXTENSION TASK
“….Hey! I had to call to tell you about an awesome idea I have!
So, imagine not needing to queue at the canteen but instead you get on
your phone and use my app to order your food, before you even get their.
Awesome right!!! I am calling it “Beat the Q”.
Now I just need to work out how to make it successful.
Can you describe three influences for me and justify how they can
help lead my business to success?”
Human Resources
Sources for employees:
•Advertisements
•Internal recruitment
•Recruitment Agencies
•Temporary/Casual services
Employee skills
• Recruit people with the most suitable skills.
• Are skills available internally?
1. Training
2. Recruit externally
Employee costs
• Employee value should
(Return on investment)

Cost
• Wages + ‘On-Costs’ = total employee expense
COMPLETE SNAPSHOT pg383 (or 372 new
textbook)
Employee costs
• Superannuation
• 9%
• Annual leave loading
• 17.5% extra
Topic: Business Planning
TAXATION
…pg 385
L3
Federal and State Taxes
•
•
•
•
•
PAYG
FBT
GST
Company Tax
Land Tax
GST
• 10% of all Goods and Services produced
• ABN = input tax credits
• BAS
• All GST from customer sale goes to government
Local Government
• Rates: Property/land value taxation
• Water and sewerage (Fee)
• Waste management services (Fee)
• Development and building approval (Fee)
• Reinvested into community
ACTIVITY
•
Complete the following table
INFLUENCE
DESCRIPTION
INFLUENCE (+/-)
Personal Qualities
The education and
skills of a business
owner/entrepreneur
Entrepreneur has the industry knowledge
and skills to perform tasks efficiently and
effectively. Also has the personal qualities
to manage the risk of a business,
motivate others and be creative
Sources of information
Taxation
ACTIVITY
• Complete the following table
INFLUENCE
Personal Qualities
Sources of information
The business idea
Establishment Options
Market Considerations
Finance
Legal Considerations
Human Resources
Taxation
DESCRIPTION
INFLUENCE (+/-)
Topic: Business Planning
>>Chapter 12
THE BUSINESS
PLANNING
PROCESS
…pg 392
L6
Topic: Business Planning
BUSINESS PLAN
…pg 392
L3
A Business Plan contains…
BUSINESS
PLAN
A Business Plan contains…
Situational
Analysis
Monitoring
and
Evaluating
Vision
Statement
• Controlling
BUSINESS
PLAN
Organising
Resources
Goals and
Objectives
Role of a Business Plan
• To provide direction for the business
• A source of information for stakeholders,
particularly investors/banks
• A ‘road map’ for you and your business
• A management tool
Sections of a business plan
• Complete the worksheet – identify the key
purpose of each heading in the business plan
Benefits of a business plan
• Provide direction for the business
• Identifies strengths to capitalise on and
weaknesses to improve
• Provides information and security for investors,
particularly banks and shareholders.
Sources of planning ideas
• Internal and External
• SWOT – Situational Analysis
Vision Statement
Vision statement broadly states what the business
aspires to become; its purpose and its function
Goals and Objectives
Goals are…
An example is…
Objectives are…
An example is…
Goals and Objectives
QUESTION
Which long-term goal do you believe to be
the most important for a cafe. JUSTIFY your
answer.
Topic: Business Planning
BUSINESS PLAN
…pg 404
L3
Re:CAP
1. Identify the first three parts of a Business
Plan
2. Define SWOT?
3. Contrast the three levels of Goals and
Objectives
1. Strategic GOALS
2. Tactical OBJECTIVES
3. Operational OBJECTIVES
Key Terms
Define Objectives:
Goals
FINANCIAL Goals:
• Profit
SOCIAL Goals:
• Community service
• Market Share
• Environmental
Sustainability
• Growth
• Share Price
GOAL: Profit Maximisation
What could be happening at
each stage of this growth?
Achieving Long-term
Growth
Change in
management
Cost and efficiency
benefits of lean
manufacturing
Lean manufacturing introduced
(Costs & Workplace changes
slows production)
New or innovative
product
GOAL: Profit Maximisation
What could be happening at
each stage of this growth?
Achieving Long-term
Growth
Strategies for long-term growth
•
•
•
•
•
Customer feedback
Supplier and customer partnerships
Innovation
Lean manufacturing
Sigma Six
Topic: Business Planning
Organising
Resources
…pg 412
L3
Organising Resources
Determining:
• What is to be done
• Who is to do it
• How it is to be done.
Each key business function must do something and
someone must determine what it is:
• Operations: What stock do we need to order?
• Finance: Which Financial Reports do we prepare?
• Human Resources: What skills do staff need?
• Marketing: What promotions will we be running?
That’s where managers and the Organisational
Structure come in
Organising Resources
&
THE BENEFITS OF
THIS ARE??
Organising Resources
• Define/Outline what each Key Business functions
focus is.
• Identify three questions the manager should ask
for each function.
QUESTION
Imagine you have been asked to make fifty family-size pizzas for
a celebration lunch.
• You have five people to help with the task.
a. Identify the resources you would need to make the pizzas
(Including your five staff).
b. Classify the resources as either (i) raw materials, (ii)
equipment (iii) knowledge or (iv) Human or (v) Finance.
c. Demonstrate how you would allocate the resources. (Use
Figure 12.13 on pg 410 to help)
Organising Resources
OPERATIONS: Transforming Inputs into Outputs
- (CAD & CAM)
HR: Managing the Employee and Employer
relationship.
MARKETING: Selling and promoting the products
and business.
FINANCE: Organising and reporting on the
financial resources
Example hierarchy structure
Topic: Business Planning
Forecasting
Chapter 12.7…pg 414
L3
Forecasting
Forecasts (or projections) are the business’s
predictions about the future.
FORECAST #1
Forecast revenue for a period of time.
Total Revenue = TR
Price = P
Quantity = Q
TR = P x Q
Forecasting
FORECAST #2
Forecast Total Costs for a period of time.
Total Cost = TC
Fixed Costs = FC
Variable Costs = VC
TC = FC + VC
Forecasting
FIXED VS VARIABLE COSTS
Pre-Paid Sim card Vs Petrol
Rent Vs Electricity Bill
School Fees Vs Bus Fare
COME UP WITH THREE OF YOUR OWN
EXAMPLES
DAY
TUESDAY
Topic: Business Planning
Forecasting
Chapter 12.7…pg 414
L3
Forecasting
FORECAST #3
Break-Even Analysis – how many products do
we have to sell to cover our costs (and start
making a profit)?
Total Fixed Costs
Quantity = Q
Unit Price
Variable Costs (per unit) = VC (per unit)
TOTAL FC
Q=
Unit Price - VC per unit
Forecasting
Q=
Forecasting
FORECAST #4
Cash Flow Projections – The estimated/expected
inflows and outflows of finances due to the:
• Operating activities
• Financing activities
• Investing Activities
Can predict cash shortfalls
Good evidence for investors and loans
Identifies positive ‘working capital’
Forecasting Activity
Forecast the revenue, costs and break-even for
the canteen.
Imagine they sell only Custard Tarts and Ice Tea.
Lets estimate the important information:
P=$
Q=
FC = $
VC per unit = $
Forecasting Activity #2
Forecast the revenue, costs and break-even for
selling coffee at a school event.
Lets estimate the important information:
P=$
Q=
FC = $
VC per unit = $
Topic: Business Planning
Monitoring and
Evaluating
Chapter 12.7…pg 414
L3
Monitoring and Evaluation
• Monitoring is the process of measuring actual
performance against planned performance.
• Evaluation is the process of assessing whether
or not the business has achieved its stated goals
We can monitor and evaluate:
• Sales
• Budgets
• Profit
Note: Define unfamiliar terms
Monitoring and Evaluation
> IMPLEMENT
> MONITOR
> CONTROL
ESTABLISH GOALS
AND MARKETING
OBJECTIVES
TAKE CORRECTIVE
ACTION
MONITOR
PERFORMANCE
EVALUATE
PERFORMANCE
Monitoring and Evaluation
> IMPLEMENT
> MONITOR
> CONTROL
Monitoring and evaluating sales
• Sales Analysis
Monitoring and evaluating budgets
A BUDGET is the business’s financial plan for the
future.
A budget must account for various factors, such as:
• Past figures, trends, and future estimates
• Market share and seasonal fluctuations
• Proposed expansions or termination of projects
• Changes in price or quality of products
• Current orders and purchases
• Influences from the external environment (E.g
Economic fluctuations, available materials & labour)
Monitoring and evaluating profit
We already know profit is at the centre of a
business’s activities.
There are five reasons to monitor and evaluate profit:
1.Profit as reward
2.Profit maximisation.
3.Profit as a source of finance.
4.Profit as a performance indicator
5.Profit as a dividend payment.
Taking corrective action
• Modifying is the process of changing existing
plans, using updated information to shape future
plans.
QUESTIONS
Complete questions 7 and 14
Ext: Q13, 15 and 18
(pg 423-424)
Topic: Business Planning
>>Chapter 13
CRITICAL ISSUES
IN BUSINESS
SUCCESS &
FAILURE
…pg 426
L6
Topic: Business Planning
INTRODUCTION &
IMPORTANCE OF
A BUSINESS
PLAN
…pg 426
L6
Critical issues in business success
and failure
When starting an SME there are critical business
issues to be aware of. These include:
•
•
•
•
•
•
•
having a business plan
managing employees
analysing trends
identifying and sustaining competitive
advantage
avoiding overextension of financing and other
resources
using technology
considering economic conditions.
Importance of a Business Plan
Business owners must take time to develop a business
plan.
Importance of a Business Plan
The business plan should contain:
 a clear, concise statement of the goals of the
business what the business wants to achieve
 well-developed plans for achieving these goals —
how the business is going to achieve the goals
 reliable control standards for measuring
performance — has the business achievedthe
goals; if not, what needs to be changed?
Lack of planning can be as disastrous as can a lack of
capital. In all businesses, the best results come
from effective management.
Business Plan presentation and
preparation
BUSINESS PLAN
Create a mindmap outlining the components of a
business plan:
BUSINESS
PLAN
Topic: Business Planning
MANAGEMENT
– Staffing and
Teams
…pg 428
L7
MANAGEMENT – Staffing &Teams
MANAGEMENT – Staffing &Teams
Overall, the most important accomplishments a
skilful manager will achieve for a business include
the ability to:
• solve difficult problems
• set and help attain important goals
• develop attitudes of commitment and ownership
• create a positive business culture through their
words and actions
• monitor the business's external and internal
environments
• plan and allocate resources
MANAGEMENT – Staffing &Teams
•
•
•
•
coordinate teams and departments
monitor the performance of teams and
individuals
successfully put workplace and business
changes into action
develop and implement schedules and operating
plans.
Two important areas of business that a manager
must pay special attention to are staffing and
teamwork.
Staffing and External Recruitment
QUESTIONS
1. Complete SNAPSHOT pg429
2. Watch The Apprentice episode and using the
listed abilities of a skilful manager (Previously
listed in these slides) select 5 of them and
outline how the manager(s) in The Apprentice
achieve or fail at using these abilities.
Start at pt3:
https://www.youtube.com/watch?v=4lBV9MA1
eGI&list=PL5DB3D3D9DF05B65B
Topic: Business Planning
INTRODUCTION &
IMPORTANCE OF
A BUSINESS
PLAN
…pg 426
L8-9
TODAY
Lesson 8
1. Complete Summary of textbook topic 13.5
2. “Creating and sustaining competitive advantage”
article
3. Summary of textbook topic 13.6
Lesson 9
1. Finance revision – complete financial
worksheets
2. “Nature of Business” (Topic 1) – Create Flash
cards
3. “Nature of Business” (Topic 1) - Mindmap of key
points
Topic: Business Studies skills
WRITING A
BUSIENSS
REPORT
Handout
L10
TODAY
1. What is a “Business Report”
2. Dissect an example of a Business Report
Question and Answer
3. How to prepare a Business Report
100
90
80
70
60
50
1st Qtr
40
2nd
30
3rd
4th
20
10
0
East
West
North
South
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