Unit 6 - Enterprise
|1. Understanding Enterprise |
The aim of this section is to provide a broad overview of enterprise skills that are present in successful entrepreneurs. This section also seeks to introduce students to the idea that enterprise skills are not only found in businesses (for profit organisations), but also in social enterprise (not for profit organisations, charities etc).
1.1 Understanding Enterprise
|Students should identify enterprise skills, including: self confidence and motivation, risk taking, being able to identify and take advantage of marketing opportunities, innovation, building teams, a 'can do' attitude and a determination to succeed. |
Students should be able to understand the importance of enterprise skills to all types of organisations including both profit and not for profit organisations.
Students should consider the relative importance of the skills in determining the success of enterprising activities.
Students should be able to explain the benefits of running a business or enterprise, and what is required from them to be successful.
|2. Planning and Implementing an Enterprise Activity |
After exploring enterprise skills, students will set up and run a small enterprise. Students may set up a business or a social enterprise. Central to this section will be identifying and selecting a business opportunity, conducting market research and writing a business plan. Students will implement the enterprise outlined in their business plan. They will understand that plans rarely remain unchanged when being implemented and are subject to external and internal influences.
2.1 Planning an Enterprise Activity
|Students should understand the need to carry out a risk and reward assessment and SWOT analysis before starting the activity. |
Students should understand the need to carry out market research to establish the likely success of the activity. This includes the collection, collation and analysis of marketing information for a business.
When developing the business plan, students should include: business aims and objectives, forecasted sales and costs, cash flow forecast and profit/income calculation.
2.2 Setting up the Team to Run the Enterprise Activity
Students should understand the benefits of team work by recognising the strengths and weaknesses of individual members and the different roles that each will have within the team.
Students should understand the importance of setting targets which are SMART.
2.3 Implementing the Enterprise Activity
|While implementing the enterprise activity students will consider the need for motivation, both self motivation and motivation of others. They will need to understand the relationship between incentives and motivation. |
Students should investigate how risks are managed as the activity is implemented.
Students should be aware of the importance of continually monitoring the performance of the activity to establish its success.
|3. Evaluating the Enterprise |
Students should undertake an in depth evaluation of their individual team role as well as that of the group. Following in depth reflection about their business, students should produce an action plan for both their personal development and the development of the business, in light of their enterprise experience.
3.1 Evaluating the Enterprise
|Students need to assess to what extent their various targets were met at each of the critical stages in the enterprise process. |
Students will need to assess how each individual within the team contributed to the overall performance of the business.
Students should analyse their own contribution to the success of the business explaining clearly what they have learned from the experience.
Students should be able to produce an action plan for their own future personal development, indicating the steps they will take to improve.
Students should be able to produce an action plan for the development of the business, highlighting the main factors which need to be addressed in order to achieve future success.
In this unit students will develop and explore the attributes associated with enterprise and entrepreneurship. They will do this by planning, implementing and evaluating an enterprise activity.
This unit will be assessed by means of a controlled assessment. The work must be the student's own individual response, produced under controlled conditions.
This unit will be assessed on a portfolio of evidence, based on the student's own research into setting up and running an enterprise activity which must investigate:
A how enterprise skills contribute to the success of enterprising activities
B the planning and implementation of an enterprise activity
C whether the enterprise activity was planned and implemented effectively, taking into account your own contributions and those of other team members.
Students' portfolios must include evidence of materials used to make one presentation on whether the enterprise activity was planned and implemented effectively.
Before students embark on their Enterprise, schools should prepare students by teaching the key terms and concepts contained within this unit. It is anticipated that this will take up to 50 hours.
During this phase, you should also ensure that students are familiar with the marking criteria and are aware of the need to evaluate their findings.
- Planning and Implementing
Having taught the topics, it is suggested that you give candidates about 17 hours to plan and implement the Enterprise Activity.
During the planning and implementing phase, you may give feedback to individual students to support them in their learning but this assistance must be recorded.
Students will need to work with others during the planning and implementing stage. Each student must, however, produce an individual response to the tasks.
Students should spend about seven hours evaluating the Enterprise and writing up their findings. While writing up their response students must work independently and complete all work under supervision.
This time may be divided into more than one session, provided that the teacher collects all materials at the end of each session, keeps them under secure conditions and returns them to students at the beginning of the next session.
Schools must mark all controlled assessments using the marking criteria shown in the specification. All controlled assessment work will be moderated by AQA according to the procedures outlined in section 7 of the specification. This, along with the marking criteria is available to download here.