GRADE 10 BUSINESS STUDIES .pg

GRADE 10

BUSINESS STUDIES

UNIT 1

STARTING A SMALL BUSINESS

ENTERPRISE- MIND YOUR OWN

BUSINESS

COURSE BOOK 1

Name:______________________________________________

Provincial Study Centre:______________________________

Address:____________________________________________

FLEXIBLE, OPEN AND DISTANCE EDUCATION

PRIVATE MAIL BAG, P.O.WAIGANI, NCD

DEPARTMENT OF EDUCATION

PAPUA NEW GUINEA

Writers of Lessons

:

Diana Waikali

Erica Inai

Lily Mali

Loraine Ah Chee

Ursula Miria

Department Editors

:

Lucy Joseph

Doris Payok

Subject Team Editors

:

Andrew Menai

Jeff G. Wama

Joyce Pogla

Mohoto Pinnoh

Subject Content Editor

:

Silas Umaropi

Language Editor

:

Elsie Lolo - Obara

Compiled, Formatted

and finalized by

:

Ursula Miria

GR 10 BS U1

1

TITLE PAGE

GRADE 10

BUSINESS STUDIES

UNIT 1

STARTING A SMALL BUSINESS ENTERPRISE- MIND

YOUR OWN BUSINESS

COURSE BOOK 1

TOPIC 1: PLANNING AND ESTABLISHING A SMALL BUSINESS

TOPIC 2: FINANCING A SMALL BUSINESS

TOPIC 3: INSURING THE BUSINESS

TOPIC 4: MY SMALL BUSINESS PROJECT

GR 10 BS U1

2

ISBN & COPYRIGHT

Acknowledgements

We acknowledge the contributions of all Secondary Teachers, FODE Subject Team

Members, Subject Review Committee Members and Academic Approval Committee

Members who in one way or another helped to develop Course Book 1.

Special word of thanks to the staff of Business Studies Department of FODE namely;

Ursula Miria, Lucy Joseph and Doris Payok, who played an active role in coordinating

writing workshops, outsourcing lesson writing and editing processes.

We also acknowledge the professional guidance provided by Curriculum and

Development Assessment Division throughout the processes of writing and, the

services given by member of the Secondary Section and Academic Committees.

The Course Book was developed with the support and funding of the GO- PNG

FODE World Bank Project.

DEMAS TONGOGO

PRINCIPAL

Published in 2016 by the Flexible, Open and Distance Education

@ Copyright 2016, Department of Education, Papua New Guinea

All rights reserved. No part of this publication may be reproduced, stored in a

retrieval system, or transmitted in any form or by any means electronic, mechanical,

photocopying, recording or otherwise without prior permission of the publisher.

Printed by the Flexible, Open and Distance Education

ISBN: 978-9980-89-356-7

National Library and Archives services of Papua New Guinea

GR 10 BS U1

3

CONTENT

TABLE OF CONTENTS

Course Introduction ....................................................................................................

5

Unit 1 Introduction .......................................................................................................

7

Study Guide .................................................................................................................

8

Topic 1: Planning and Establishing a Small Business ............................................

11

Topic 1: Introduction ......................................................................................................

12

Lesson 1 What is a Small Business? ........................................................................................

13

Lesson 2 Self -Analysis for a Successful Business person .......................................................

21

Lesson 3 The Initial Business Plan............................................................................................

27

Lesson 4 Market Research and Detail Planning........................................................................

33

Lesson 5 Location of a Business ...............................................................................................

41

Lesson 6 Buying an Existing Business ......................................................................................

47

Lesson 7 Starting a New Business ............................................................................................

53

Lesson 8 Franchising ...............................................................................................................

59

Lesson 9 Expanding a Business ...............................................................................................

69

Answers to Practice Exercises 1- 9 ..............................................................................

75

Topic 2: Financing a Small Business........................................................................

83

Topic 2 Introduction .......................................................................................................

84

Lesson 10 Finance for a Small Business ...................................................................................

85

Lesson 11 Methods of Obtaining Finance ..................................................................................

91

Lesson 12 Cost of Borrowed Money ..........................................................................................

99

Lesson 13 Cash Budget .............................................................................................................

105

Answers to Practice Exercises 10 -13 ...........................................................................

117

Topic 3: Insuring the Business .................................................................................

123

Topic 3 Introduction .......................................................................................................

124

Lesson 14 Insurance and Business ...........................................................................................

125

Lesson 15 Compulsory Insurance ..............................................................................................

133

Lesson 16 Voluntary Insurance ..................................................................................................

137

Answers to Practice Exercises 14 -16 ...........................................................................

145

Topic 4: My Small Business Project .........................................................................

149

Topic 4: Introduction ......................................................................................................

150

Lesson 17

What is a Small Business .......................................................................................

151

Lesson 18

Self -Analysis for a Successful Business person ....................................................

157

Lesson 19

The Initial Business Plan ........................................................................................

165

Lesson 20

Market Research and Detail Planning ....................................................................

173

Lesson 21

Location of a Business ...........................................................................................

185

Answers to Practice Exercises 17-21 ............................................................................

193

Answers to Lesson Activities ¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­¡­. 199

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