TERM – 3RD TERM
WEEK SIX
Class: Senior Secondary School 2
Age: 16 years
Duration: 40 minutes of 5 periods each
Date:
Subject: AUTO MECHANICAL
Topic: ENTERPRISE II
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
I.) Discuss the formation of an enterprise
II.) Discuss the management of an enterprise
III.) Identify the sources of capital for enterprise
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures,
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
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PRESENTATION
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TEACHER’S ACTIVITY
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STUDENT’S
ACTIVITY
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STEP 1
INTRODUCTION
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The teacher explains the formation and management of an enterprise
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Students listens attentively to the teacher
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STEP 2
EXPLANATION
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Teacher identify and discuss the sources of capital for an enterprise
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Students exhibit attentiveness and active engagement
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STEP 3
NOTE TAKING
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The teacher writes a summarized
note on the board
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The students
copy the note in
their books
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NOTE
ENTERPRISE II
Formation and Management of Enterprise
Formation
- Idea Generation: The process begins with generating a business idea based on market research, identifying opportunities, and assessing feasibility.
- Business Plan: Developing a detailed business plan outlining the vision, mission, objectives, target market, products/services, marketing strategy, operational plan, and financial projections.
- Legal Structure: Choosing the appropriate legal structure such as sole proprietorship, partnership, corporation, or limited liability company (LLC), and completing the necessary registration and licensing requirements.
- Financing: Securing initial capital through personal savings, loans, investments, crowdfunding, or grants.
- Setup: Setting up physical infrastructure, acquiring necessary equipment and resources, hiring personnel, and establishing operational processes.
- Launch: Launching the enterprise and implementing marketing and sales strategies to attract customers and generate revenue.
Management:
- Leadership: Providing strong leadership, vision, and direction to guide the enterprise towards its goals.
- Planning: Developing strategic plans, operational plans, and budgets to allocate resources effectively and achieve objectives.
- Organizing: Structuring the organization, roles, and responsibilities, and establishing clear communication channels and decision-making processes.
- Staffing: Recruiting, training, and managing talented and motivated employees to ensure they have the skills and resources to perform their roles effectively.
- Controlling: Monitoring performance, analyzing results, identifying variances, and taking corrective actions as needed to ensure the enterprise operates efficiently and achieves its targets.
Sources of Capital
- Personal Savings: Using personal funds accumulated through savings, investments, or retirement accounts to finance the enterprise.
- Bank Loans: Obtaining loans from banks or financial institutions based on creditworthiness and collateral to fund startup costs or expansion.
- Investors: Securing investments from angel investors, venture capitalists, or private equity firms in exchange for equity or ownership stakes in the enterprise.
- Crowdfunding: Raising capital from a large number of individuals or groups through online platforms in exchange for rewards, equity, or debt.
- Grants: Applying for government grants, subsidies, or incentives available for startups, small businesses, or specific industries or sectors.
- Partnerships: Forming partnerships or strategic alliances with other businesses or organizations to access capital, resources, or expertise.
EVALUATION: 1. Briefly discuss the formation of an enterprise
- Discuss how an enterprise can be managed
- Identify 5 ways to source capital for enterprise.
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively
