Understanding Business Structures
Suggested timeframe: 2-3 Hours
Goal
Help students become familiar with the concepts of sole trader, partnerships, limited companies, co-operatives and franchises.
Activities
Activity 1. Quiz
Have students study the topic handout individually before forming into groups of four for the quiz (answers below). Each team only has a few moments to discuss the question and give an answer. Give a point for each correct answer. For a more intense learning game, divide the topic into four subjects (such as sole traders, partnerships, limited companies and co-operatives). After the students have studied the topic handout and formed groups, ask them to assign a number, from 1 to 4, to each team player. Each player is now the ‘expert’ on the subject you assigned their number to, and only they can answer questions on that subject.
Activity 2. Sources of finance
Students can approach this match up activity individually or in pairs. They can either cut out the words and definitions from the student worksheet to match them to the descriptions, or simply write them in. Once completed, you can go through the definitions with the class.
Activity 3. Case study
Read through the case study with the class and then leave the students time to individually answer the related questions. The activity can either be marked later or discussed in class, with students volunteering their answers.
Activity 4. Crossword
After the students have completed the crossword (answers below), clarify the learning with some questions, such as: Which business structure do you think is the most fun? Which makes the most money? Which is the most challenging or the easiest? Ask them to explain their conclusions for discussion.
Resources on Business.govt
- Business structures (for business structure definitions from Business.govt.nz)
