Week of Oct. 17-21

Hi Class!

This week, as you know, you have your Chapter 3 Test on Monday, Oct.17th. Don't forget & be prepared!! Remember to study properly. This does not mean just reading over your notes. It means actively testing your recall through verbal and written quizzing! It is much easier to recall something when the answers are provided in a multiple choice format, than when you have to truly recall the information in a short answer situation. We did quite a bit of review in class, but here is an overview of the main points, along with a few study tips:

• Read the Profile at the beginning of the chapter. (Hint: What kind of business is the Post Road Tea Room?)
• Review all of the bold vocabulary terms throughout the chapter
• What is a "bricks & mortar" business vs. an "e-commerce" business?
• What does "soho" stand for? (Small Office Home Office)
• What are the 3 different types of businesses based on what they make or sell (Manufacturing, Retail, Service)
• What are the 4-5 types of business ownership? (Sole-proprietorship, Partnership, Corporation, Cooperative + Franchise)
• What are the different types of cooperatives? (Consumer, Retail, Worker)
• What is the difference between a corporation and a cooperative?
• What is the difference between a general partnership agreement and a limited partnership agreement?
• Can you name at least one of the most important advantages and disadvantages for each type of business ownership?
• What are the 4 different types of corporations ( Public, private, Crown, municipal)
• Can you tell the difference between different types of Crown corporations? (Ex: Canada Post is a federally-owned Crown corp. BC Hydro is a provincially-owned Crown corp. Often the name gives a clue!)

 I hope this helps you with your studying. Good luck!


Small Business Plan Project

Following our test, you will be assigned another project- a Small Business Plan project! This is your chance to demonstrate what you have learned as you plan your own type of business. This is a three-part project that includes:

1. Written Paper
2. Brochure
3. Presentation

I know you will ask me if you can work with other students. My answer? That depends on the type of business you want to open! If you want to open a sole-proprietorship, you will have to work alone, just as a true sole-proprietor does. If you want to open a partnership, you will need a partner who shares in your vision and who will share the responsibilities. If you want to open a small private corporation, you will need a small group of three people (Sorry- no groups bigger than three people), but remember, with more people you should be able to do more work and dazzle me with your combined ideas and expertise!

I will go over this project in great detail with you after the test and will post the project online in case you need an extra copy or in the event your parents would like to see it.  Check back in a few days!
DUE DATES: 
October 31st- Written Report & Brochure
November 7th- Presentation

Current Events

* Don't forget to prepare for your Current Event presentation on Tuesday if you are presenting. We will have two presentations the following Tuesday because Friday there aren't any classes. Check the sign up sheet for your scheduled date and start watching the news!!!

Have a great week everyone. See you in class!