Seminar: Considering the role of business

Topic Number:1

Principles of Business

Overview

In this first seminar you are tasked with working in a group to come up with your own business idea and thereafter formulate a plan to get it up and running.

It is important to note that you will be working in the same group and on the same business for a number of weeks and therefore should come up with a business idea that is exciting and viable.

For todays seminar we will be looking for your group to come up with:

• The type of business and structure you would go for• The various roles in the organisation each of you would take on• Consider what the customer need is and how your company is

going to satisfy it?• What have you learnt about working together to come up with

a business and organising yourselves into a structure?

3

• Be able to articulate the type of business you would go for and its implications

• Critically evaluate and discuss the various types of business structures and hone in on the most appropriate one for your business

• Identify and describe the various roles in an organisation

• Demonstrate an understanding of what is a customer need and how you would satisfy them

• Work through group dynamics to come up with a robust business & structure

Learning outcomes of this seminar

Agenda for this seminar

The various roles in the organisation each of you would take on

Consider what the customer need is and how your company is going to satisfy it?

What have you learnt about working together to come up with a business and organising yourselves into a structure?

The type of business and structure you would go for

Structure for the session

You will have 15 minutes to

discuss each question

We will have a de-brief at the end of each 15 minutes to hear your thoughts on each area

Feel free to ask questions but please do not have separate conversations ‘we are all in

this together’!

So if you could start a business what would it be?

Richard Branson

'Above all, you want to create something you're proud of. This has always been my philosophy of business. I can honestly say that I have never gone into any business purely to make money. If that is the sole motive, then I believe you are better off not doing it.'

More importantly ask yourself why?

To develop a product they wanted but couldn't find

To build a better company

They came up with a real

breakthrough!

What would your vision be for your business?

“An ideal that…represents or

reflects the shared values to which the organisation should

aspire”

Kirkpatrick, Wofford and Baum, 2002:139

Our vision is a world where everyone can be connected

We bring good things to life

Be, and be recognised as, the best consumer products and

services company in the world

Which Company?

Nokia

GE

P&GSource: Palmer, Dunford and Akin, 2009

What business would you choose ?

What type would it be?

Discussion

Consider the functions of

the organisation- what would each of you

do?

Discussion

Consider the customer

need and how your company

is going to satisfy it

Discussion

What have you learnt

about teamwork?

Discussion

End of Seminar

Note: This recording is for your personal use only and not for further distribution or wider review.

© Pearson College 2013