Session (1.3.6) Why Some Businesses are Successful and Others Fail

Partial Progress - Circles (browser only)

Objectives

By the end of this session, you should be able to:

explain why some businesses succeed;
explain why some businesses fail;
understand the factors that lead to business success or failure.

Engage

We finish this topic by looking at the reasons why some businesses are successful and why some fail.

Starbucks is a well-known and successful chain of coffee houses. Read through the Business in Action section on page 53 to find out why they were not so successful in Australia. Is Starbucks successful in your country? If so, why do you think this is?

Learn

Watch this video on seven reasons why some businesses fail while others succeed and make some notes.

WATCH – 7 Reasons (YouTube)

READ AND MAKE NOTES – Summary File 1.3.6

Read and make notes on pages 52 to 53 of your coursebook and add to your notes. Figure 3.14 on page 52 is a great summary of the factors affecting business success and failure.

Apply

Complete Activity 3.5 on page 54 of your coursebook.

Explore

Read through the following posts for further thoughts on why some businesses fail while others succeed.

READ - Why Do Some Businesses Fail While Others Succeed? (Nationwide Super)

READ - 11 Reasons Why Companies Succeed and 5 Reasons Businesses Fail (Nav)

Consolidate

Complete rows seven and eight in the check your progress box on page 55 of your coursebook.

Read the summary on page 54 and be sure you understand each of the bullet points.

Finally, complete practice question 2 on page 55.