Lesson Notes By Weeks and Term - Senior Secondary School 3

Term: 2^nd Term

Week: 4

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:    Commerce

Topic:-      Privatization and commercialization

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

1. Define privatization and commercialization
2. State the advantages and disadvantages of privatization and commercialization

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

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION	TEACHER’S ACTIVITY	STUDENT’S ACTIVITY
STEP 1 INTRODUCTION	The teacher reviews the previous lesson on means of payments	Students pay attention
STEP 2 EXPLANATION	She explains the meaning of privatization and commercialization	Students pay attention and participates
STEP 3 DEMONSTRATION	She discusses the advantages and disadvantages of privatization and commercialization	Students pay attention and participate
STEP 4 NOTE TAKING	The teacher writes a summarized note on the board	The students copy the note in their books

 

NOTE

PRIVATIZATION

The transfer of ownership, property or business from the government to the

private sector is termed privatization. The government ceases to be the

owner of the entity or business. The process in which a publicly-traded

company is taken over by a few people is also called privatization.

 

ADVANTAGES OF PRIVATIZATION

1. Government generates more revenue during the implementation policy
2. it brings about efficiency and productivity in the business
3. It leads to innovation and high level creativity in the business
4. It gives the consumers an increased range of choices
5. it widens the capital market

 

DISADVANTAGES OF PRIVATIZATION

1. it leads to mass retrenchment of workers
2. it leads to inflation
3. it lowers the standard of living of the citizens
4. it leads to uneven distribution of income

 

COMMERCIALIZATION

It is the running of government-owned organization with the intention of

generating profits. The ownership and control of the organization will still be

under the government

 

ADVANTAGES OF COMMERCIALIZATION

1. it generates funds for government
2. it makes the enterprise to be self-sufficient
3. it reduces the government’s expenditure
4. it promotes accountability
5. it enhances competitiveness of such commercialized enterprises

 

DISADVANTAGES OF COMMERCIALIZATION

1. it may lead to uneven distribution of wealth
2. it may lead to the exploitation of the consumer
3. it may lead to the reduction of the workforce
4. it may lead to the increase in the cost of goods and services

 

EVALUATION:   1. Define privatization and commercialization

2. State the advantages and disadvantages of privatization and commercialization

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively