what makes a market

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  • 1. WelcomeWelcome Welcome

2. Welcome Welcome Aims and Objectives Just a quick recap before plodding on 3. WelcomeWelcome DefinitionBusiness objectives are the stated, measurable targets of how to achieve business aims. For example: we want to achieve sales of 10 million in European markets in 2004. 4. Welcome Easy Welcomeknow stuff I Business Objectives can be divided into 2 categories Do you know what they are? You should do!! 5. Welcome Welcome FinancialTo survive in the market - To break even (cover costs) - To improve its image - To have high motivation amongst employees - To maximise profits - To increase market share - To grow in size (e.g. sales, customers, employees) - To Sell abroad - To diversify and sell different products - To make returns to shareholders if a limited company (dividends) 6. Welcome Welcome Non-FinancialPersonal satisfaction Challenge Independence Control Helping others Using your skills Being your own boss Something to be proud of Ethical stance 7. WelcomeWelcome Non-Financial 8. Welcome Welcome Business Objectives Objectives give the business a clearly defined target. Plans can then be made to achieve these targets. This can motivate the employees. It also enables the business to measure the progress towards to its stated aims. 9. Welcome Smart Objectives Welcome 10. Welcome Smart Objectives Welcome 11. Welcome Welcome Right time to move on Mr Ahern we are moving too quick through stuff Dont care!! Just get on with it 12. Welcome Lets track what we have done... Welcome 1.1.1: Characteristics Of Entrepreneurs 1.1.2: What Motivates Entrepreneurs? 1.1.3: Leadership Styles 13. Welcome you think we will be doing next? Welcome So what do 14. Welcome What makes aWelcome market? Week Subject commencing areaActivityResourcesWhat makes a market? What should firms supply?Students could explore the changes in the market, and charges, for mobile phones from when mobile phones were first available to now. What do they conclude about the interaction between price, supply and demand? (See Activity sheet 2, Task 1 and 2.)Activity sheet 2, Task 1 and 2 Interaction activity and tasks on supply and demand at: www.bized.co.uk/educators/1619/economics/ markets/activity/demandsupply.ht mWhat consumers want or needStudents should identify a market need for a business idea of their own. Students could gain new business ideas from, eg www.startups.co.uk/. Why do they think that there is a potential demand for the business? This could be set as homework.Activity sheet 2, Task 3 Additional reading: Zhang L Identifying a Market Opportunity, Business Review, Volume 7, Issue 4, April 2001, pages 2-4 15. Welcome What makes Welcome a market? 16. Welcome a market Welcome What is 17. Welcome a market Welcome Creating 18. Welcome What should Welcome firms supply? How do they decide?What price and where? 19. Welcome SupplyWelcome 20. Welcome Why supply increases if price increases Welcome 21. Welcome The Supply Welcome curve 22. Welcome The factorsWelcome of supply 23. Welcome the Welcome Shifting supply curve 24. Welcome RecapWelcome 25. Welcome Welcome Tick box time Week Subject commencing areaResourcesWhat makes a market? What should firms supply?Next LessonActivityStudents could explore the changes in the market, and charges, for mobile phones from when mobile phones were first available to now. What do they conclude about the interaction between price, supply and demand? (See Activity sheet 2, Task 1 and 2.)Activity sheet 2, Task 1 and 2 Interaction activity and tasks on supply and demand at: www.bized.co.uk/educators/1619/economics/ markets/activity/demandsupply.ht mWhat consumers want or needStudents should identify a market need for a business idea of their own. Students could gain new business ideas from, eg www.startups.co.uk/. Why do they think that there is a potential demand for the business? This could be set as homework.Activity sheet 2, Task 3 Additional reading: Zhang L Identifying a Market Opportunity, Business Review, Volume 7, Issue 4, April 2001, pages 2-4 26. Welcomewhat customers want or need Welcome Identify What is a want?What is a need? 27. Welcome DemandWelcome 28. WelcomeWelcome 29. Welcome Why demand decreases if demand increases Welcome 30. Welcome Welcome The Demand Curve 31. Welcome Welcome The Factors of Demand 32. Welcome ShiftingWelcome the demand curve 33. Welcome Move andWelcome shift A move a along the demand or supply curve is when a change in price point results in a change in demand or supply A shift of the demand curve is when the entire curve shifts due to external factors, such as population change, or the weather 34. Welcome Market equilibrium determinning price Welcome 35. Welcome MarketWelcome orientated 36. Welcome Welcome Tick box time Week Subject commencing areaActivityResourcesWhat makes a market? What should firms supply?Students could explore the changes in the market, and charges, for mobile phones from when mobile phones were first available to now. What do they conclude about the interaction between price, supply and demand? (See Activity sheet 2, Task 1 and 2.)Activity sheet 2, Task 1 and 2 Interaction activity and tasks on supply and demand at: www.bized.co.uk/educators/1619/economics/ markets/activity/demandsupply.ht mWhat consumers want or needStudents should identify a market need for a business idea of their own. Students could gain new business ideas from, eg www.startups.co.uk/. Why do they think that there is a potential demand for the business? This could be set as homework.Activity sheet 2, Task 3 Additional reading: Zhang L Identifying a Market Opportunity, Business Review, Volume 7, Issue 4, April 2001, pages 2-4 37. Welcome Welcome 5 examples for eachplease In your book write factors that would result in a shift in the supply curve Factors that would result in a shift in the demand curve 38. Welcome QuestionWelcome time What questions do you have based on todays lesson? 39. Welcome Welcome OK Worksheet time

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