This unit will provide students with a practical understanding of the key aspects of running a small business or social enterprise. Students will learn about the activities involved in running a small business, including developing good relationships with customers, planning and allocating operational resources, forecasting and budgeting, interpreting financial statements, recruitment and retention of staff, leadership and building a team, dealing with legislation and regulation and how to put together a business plan.
Students will be able to apply their learning to a simulated business of their choice that they will work on as part of a group. They will develop an understanding of how all of the different aspects of running a business interrelate to achieve success, and develop an appreciation of the benefits and importance of organisation and planning.
By the end of this unit a student will be able to: