Business Studies - Junior Secondary 2 - Aids to trade

TERM: 1^ST TERM

WEEK FIVE

Class: Junior Secondary School 2

Age: 13 years

Duration: 40 minutes of 5 periods each

Date:

Subject: BUSINESS STUDIES

Topic: AIDS TO TRADE

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

I.) Describe forms of trade – Banking, Insurance, Advertising, Communication, Transport and television Warehousing

II.) Explain the services that made Trade Easy

III.) Identify roles of Custom of the Channels of Distribution

 IV.) Identify licensed Channels Vendors

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

NOTE

AIDS TO TRADE

Forms of trade – Banking, Insurance, Advertising, Communication, Transport, and Warehousing

1. Banking: Involves financial institutions that provide services such as savings accounts, loans, investments, and payment processing, essential for facilitating transactions and managing money flow.
2. Insurance: Covers various risks and uncertainties, providing financial protection against losses in exchange for premiums. Types include life, health, property, and liability insurance.
3. Advertising: Utilizes communication channels to promote products, services, or ideas to target audiences, influencing consumer behavior and market demand.
4. Communication: Encompasses various means (telecommunication, internet, media) to exchange information and messages, crucial for business transactions, customer relations, and marketing.
5. Transport: Involves the movement of goods and people from one place to another, essential for supply chain management, distribution, and accessibility of markets.
6. Warehousing: Provides storage facilities for goods before distribution, ensuring inventory management, timely deliveries, and customer satisfaction.

Services that made Trade Easy

Technological advancements and specialized services have significantly eased trade:

I.) Digital Payment Systems: Facilitate instant and secure transactions globally, reducing dependence on cash and simplifying financial transactions.

II.) Supply Chain Management: Streamlines production, distribution, and inventory management, optimizing efficiency and reducing costs.

III.) E-commerce Platforms: Enable businesses to reach global markets, sell products online, and offer convenient shopping experiences for consumers.

IV.) Logistics and Transportation Services: Ensure timely delivery of goods worldwide, improving supply chain reliability and customer satisfaction.

V.) Market Research and Analytics: Provide insights into consumer behavior, market trends, and competitor analysis, guiding business decisions and strategies.

Roles of Custom of the Channels of Distribution

Customs play crucial roles in distribution channels:

I.) Facilitating Trade: Ensure compliance with import/export regulations, tariffs, and customs duties, facilitating smooth movement of goods across borders.

II.) Ensuring Compliance: Verify documentation accuracy, tariff classification, and valuation of goods to prevent smuggling and ensure fair trade practices.

III.) Revenue Collection: Collect customs duties, taxes, and fees to generate government revenue and protect domestic industries.

IV.) Security and Protection: Prevent illegal trafficking of goods, control hazardous materials, and enforce trade embargoes or sanctions for national security and public safety.

Licensed Channels Vendors

Licensed channel vendors include:

I.) Authorized Dealers: Authorized by manufacturers or distributors to sell their products, ensuring authenticity and warranty support.

II.) Franchisees: Operate under a franchisor's brand and business model, offering standardized products or services with support from the franchisor.

III.) Licensed Distributors: Hold licenses to distribute specific products or services within designated territories, ensuring compliance with regulations and quality standards.

IV.) Exclusive Agents: Represent specific brands or companies exclusively in certain markets, managing sales and distribution on their behalf.

EVALUATION: 1. Describe the following forms of trade – Banking, Insurance, Advertising, Communication, Transport and television Warehousing

2. Identify 4 services that made Trade Easy
3. Discuss the roles of Custom of the Channels of Distribution

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively