Introduction
Good Day students.
Today we will be discussing business Forms of Ownership.
Forms of Ownership is the way the business is structured legally
This topic was covered in grade 10 but in grade 11 we will elaborate more on the content.
In grade this chapter we will cover Sole Traders, Partnership, Closed Corporation,(CC) Non profit company, (NPO) Private company, (PTY) Public company, State owned Entity (SOE) and co operatives
We start off with an introductory video:
Please watch this video to refresh and introduce you to the topic at hand
We will then discuss the forms of ownership using the following link below
https://www.livecareer.com/resources/careers/planning/business-ownership
What is a Sole trader?
a sole trader is an individual person owning the business. This person handles all the tasks in the business and is responsible for all actions happening in the business
What is a partnership?
A partnership is an agreement between two or more business partners who share the responsibilities, decisions and profits of the business
What is a closed corporation
A cc is a separate legal entity which makes financial and strategic decisions on its own
What is a non profit company?
This is an organization whose primary aim is not to make any money. Instead, they serve the public or are there for a specific cause.
What is a private company?
A company in which the public cannot buy any shares and has its own directors
What is a Public Company?
This is a company registered to the stock exchange (JSE) and sells its shares to the public
What is a State Owned Company?
This is a business with majority of the shares owned by the government themselves. The business takes on a commercial enterprise on behalf of the government
What is a Co-operative?
This is a group getting together to share resources and costs to achieve a better outcome.
Task
HOMEWORK!!
Please download the 2019 Business Studies exemplar paper and complete the entire question paper by next week as practice. You have the entire week to complete this practice paper. Pace yourself and do not complete all the Questions on one go. Do a maximum of one/two questions per day (Question 1 on Monday and Question 2 on Tuesday etc.) (https://www.education.gov.za/Curriculum/NationalCurriculumStatementsGradesR-12/2019Grade11Exemplars.aspx)
Process
During the lesson, students will be asked to list the advantages and disadvantages of a sole trader, partnership, closed corporation, non profit company, private company, public company and a co-operative. They may use the textbook in class as a guide.
Pros Cons
Sole Trader
Partnership
CC
Non profit company
Private Company
Public Company
Co-operative
Evaluation
The answers of the classwork will be gone through in the next lesson with the teacher citing the website below and the textbook as a guide to better explain to the students
Conclusion
In this lesson, we have discussed the introduction of the forms of ownership done in grade 10 and further discussed the content covered in grade 11. The class did an activity listing the advantages and disadvantages of the forms of ownership.
For homework, students were given the link to download an exemplar paper in which they need to complete one/two questions a day.
The next time we meet, we will discuss establishing a company, the challenges of starting a company and the structures within companies. This will be split into a few lessons.
Credits
Teacher Page
Students can find information on YouTube and there are many websites available with information regarding forms of ownership.
Students can use the government website provided to find the grade 11 exemplar paper. In grade 12, they can refer back to this lesson as practice
This lesson is a rather fast paced lesson but can be slowed down with the use of information websites and YouTube videos found online