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Lesson Objectives
• Understand that businesses operate within an external environment (C)
• Discuss examples where this has influenced company decisions (B)
• Assess the consequences of the environment on long term business implications (A)
What is it?
• GDP = Gross Domestic Product
• A measure of economic activity
• It is an external factor that affects business
• http://www.bbc.co.uk/news/business-13200758
A: The number of new housing starts begins to fall
D: Rising demand for steel
B: Car plants decide to reduce the number of
shifts
C: Consumers hit by delays in product
delivery
H: Rising business class air revenues
E: Home delivered pizza becomes more popular
F: More building skips start appearing on the
streets
G: More companies attempt to introduce
wage freezes
J: The cost of shipping goods
around the world starts to rise
K: Sales of milk chocolate start to
decline
L: Banks relax credit rules
I: Share prices hit by rise in number of company
profit warnings
Over to you
• In groups, discuss and have 5 mins to identify where you would place each picture on the chart.
• Write the letter on the sheet
• Prepare to explain your decision
Business Response
• Annotate one of the choices with an explanation of how a business could respond to this event. (5 mins)
In context
• Refer to the data and the question.
• Produce a paragraph as part of a response to the question (5 mins). Use the words from the start of the lesson (literacy focus)
• Given the levels of response and your current knowledge, where would you assess your progress towards answering the question? (marks scheme)
Lesson Objectives
• Understand that businesses operate within an external environment (C)
• Discuss examples where this has influenced company decisions (B)
• Assess the consequences of the environment on long term business implications (A)
B: There are more unfilled job vacancies
C: Increasing hours of overtime
D: Rising homelessness
M: Rising real income
L: Rising lipstick sales
F: Long-term unemployment
reaches new high
N. Government announces a fall in trade deficit due to decline in
imports
Extension- where would these go?
Z: Rising government spending