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Sample Assessment Tasks
Business Management and Enterprise
General Year 11
Copyright
School Curriculum and Standards Authority, 2014
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Disclaimer
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Sample assessment taskBusiness Management and Enterprise General Year 11Task 3 Unit 1
Assessment type: Business research
Conditions
Period allowed for completion of the task: 3 weeks
Some class time will be used.
Task weighting
10% of the school mark for this pair of units
__________________________________________________________________________________
1. Select a newspaper or other article that focuses on a successful entrepreneur and that addresses the questions below. Acknowledge the source of the article. (2 marks)
2. Read the article you have selected and answer the following questions which focus on entrepreneurship, innovation, business growth and success.
(a) Describe the business idea/opportunity on which the entrepreneur acted.(2 marks)
(b) List two (2) other ideas/opportunities considered by the entrepreneur.(2 marks)
(c) Explain two (2) reasons for establishing the business.(4 marks)
(d) Explain how the entrepreneur dealt with one (1) of the following issues affecting business success (or failure):
cash flow
market research
business planning. (3 marks)
(e) List four (4) common sources of business finance.(4 marks)
(f) Describe the main source of finance used by the entrepreneur.(2 marks)
(g) Explain the meaning of innovation.(2 marks)
(h) Explain the relationship between business growth and innovation.(3 marks)
(i) State three (3) issues regarding ethical practice in the business macro (external) environment(3 marks)
(j) Explain how the entrepreneur dealt with one (1) issue regarding ethical practice.
(3 marks)
3. Compare your answers for your entrepreneur with those of another class member who has selected a different entrepreneur. Identify and explain two (2) findings which are similar.(6 marks)
Total = 36 marks
Marking key for sample assessment task 3 Unit 1
1. Select a newspaper or other article that focuses on a successful entrepreneur and that addresses the questions below. Acknowledge the source of the article.
Description
Marks
Provides a relevant article and acknowledges source
2
Provides a relevant article
1
2. (a)Describe the business idea/opportunity on which the entrepreneur acted.
Description
Marks
Clearly describes the idea/opportunity
2
Names the idea/opportunity
1
Answer will vary depending on the article selected but could include, and is not limited to:
identifies the potential for developing or providing a product or service or process that was not currently available
focusses on a product or service or process that existed but which could be improved
(b) List two (2) other ideas/opportunities considered by the entrepreneur.
Description
Marks
Lists idea/opportunity
12
(1 mark each)
Answer could include, but is not limited to:
Any other product or service or process considered by the entrepreneur
(c) Explain two (2) reasons for establishing the business.
Description
Marks
Reason 1
Clearly explains the reason for establishing the business
2
States a reason for establishing the business
1
Subtotal
2
Reason 2
Clearly explains the reason for establishing the business
2
States a reason for establishing the business
1
Subtotal
2
Total
4
Answer will vary depending on the article selected but could include, and is not limited to:
using skills and knowledge for own advantage not another employer
making use of possible tax advantages depending on the type of business and structure
protecting the environment by engaging in ethical environmental business practices
engaging in a challenging and interesting type of employment
seeking recognition for creating a new business
job security
creating jobs for others
(d) Explain how the entrepreneur dealt with one (1) of the following issues affecting business success (or failure):
cash flow
market research
business planning.
Description
Marks
Clearly explains how the business dealt with the issue
3
States how the business dealt with the issue
2
States the issue but doesnt make the link to how the business dealt with it
1
Answer will depend on the article selected
cash flow: for a business to function effectively and succeed it needs to ensure that there always is sufficient cash flow to allow it to cover expenses and repayment and unexpected situations such as when creditors dont pay on time and fluctuations in sales or revenue
market research: before starting the business the owner needs to know if there is a market for what is going to be provided because if there isnt its very unlikely the business will be successful
business planning: planning is needed to ensure the businesss proposed activities can be carried out profitably and that there is sufficient capital to establish and maintain the business. Research indicates that the biggest factor contributing to business failure is poor planning
(e) List four (4) common sources of business finance.
Description
Marks
Lists appropriate sources of finance
14
(1 mark each)
Answer could include but is not limited to:
personal savings
finance from friends and relatives
credit cards
short-term loans, such as loans for 12 months or less, from banks or lending institutions
long-term loans, such as mortgages, from banks or lending institutions
bank overdrafts
(f) Describe the main source of finance used by the entrepreneur.
Description
Marks
Clearly describes the main source of finance used by the entrepreneur
2
Names the source of finance used by the entrepreneur
1
Answer will depend on the article selected
Form of internal source or external source of finance
(g) Explain the meaning of innovation.
Description
Marks
Clearly explains the meaning of innovation
2
States the meaning of innovation
1
Answer could include, but is not limited to:
Innovation refers to the creation or formulation of an idea for something new, or something that can be improved, that can satisfy a need or a want and can be provided in a cost effective way. Generally, innovation is associated with being creative and using initiative in the provision of a product or service.
(h) Explain the relationship between business growth and innovation.
Description
Marks
Clearly explains the relationship between business growth and innovation
3
States the relationship between business growth and innovation
2
States the terms but does not describe the relationship between business growth and innovation
1
Answer could include, but is not limited to:
A business that promotes innovation i.e. recognises the potential of new ideas for products and services that can be provided in a cost effective way, is more likely to encourage its employees to be creative and engage in the business, thereby growing the business. The link between business growth and innovation is that the innovation leads to increased productivity and increase in the share of a particular market i.e. business growth.
(i) State three (3) issues regarding ethical practice in the business macro (external) environment.
Description
Marks
State issues regarding ethical practice in the business macro (external) environment.
13
(1 mark each)
Answer could include, but is not limited to:
economic issues such as, consumer spending, interest rates, inflation
government regulations, laws and policies such as, trading hours, minimum wages, OSH
new and changing technologies such as, digital technologies
consumer trends such as, organic foods