Topic Five (1.5): Consolidation
Introduction
This topic is designed for you to review, and reflect on, what you have learnt in this module. The tasks below will help develop the links you make between ideas and will provide important knowledge or analysis that will aid you in the assignments and exams.
Consolidate
- Review pages 3 to 31 in the textbook, and the notes you have made for this module.
- Looking back over the previous topics, make sure you can answer the following questions:
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- Explain the difference between enterprise and an enterprise.
- Define ‘entrepreneur’ and ‘intrapreneur’.
- What is meant by ‘added value’ and ‘adding value’?
- Define ‘opportunity cost’.
- Explain why new businesses often fail.
- What is a business plan?
- Why is a franchise not a type of business structure?
- What is a social enterprise?
- What is the difference between unlimited liability and limited liability?
- What is a public corporation?
Quiz
Complete the end-of-module quiz to test what you have learnt so far in this module. You can take this quiz as many times as you like.
Assignment
When you have completed all the activities and are fully prepared and feel confident with the material, you should complete Assignment One and submit it to your tutor via Canvas for marking and feedback.