First off I'd just like to say how much I enjoyed reading your small business plans and presentations! All of your business ideas were both unique and creative, and really exemplified your understanding of basic business concepts. Well done! I'll be handing them back this coming week. There are still a number of students who have not completed their business plan. As this is a large assignment, it is also worth a large number of marks! Get yours in ASAP!!
This week we will be having our Ch.4 Test on Tuesday Nov.15th and then will be promptly starting Ch.5, which focuses on "What Makes a Business Successful". It is a short chapter that looks at profit, profitability, return on investment, expenses, personal factors that affect business success, as well as outside factors that affect a business' success, such as economic conditions. Of course, we will also look at the top reasons why businesses fail. There are two really important concepts in this chapter: Economies of Scale (Yes, Bikram, we will finally watch "the Walmart video"!!), and Inflation. While there is a lot of information to cover, it is a really brief chapter that we will be moving through very quickly. That means you need to pay attention, stay on top of your textbook questions, review, and be prepared for a test as early as next Monday Nov.21st which is the tentative plan. Also, you will need to bring a calculator this week for some calculations.
Study Tips/Guidelines for Ch.4 Test
Ensure that you:
- know your vocabulary terms and definitions
- have read and re-read both your notes and textbook chapter
- know the phases of the business cycle: trough, recovery, peak, recession (not depression-there is a difference!)
- know and can thoroughly explain the "Money Circle" diagram that we studied in class
- have reviewed the Ch.4 crossword questions
PS. Don't forget, there are two of you doing your Current Event presentations tomorrow.
PPS. Don't forget your calculator this week!
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| BRING ME!!! |
