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Learning Objectives Explore what is meant by ‘risk’ Investigate what is needed in order to bring a new idea into the mar

Learning Objectives Explore what is meant by ‘risk’ Investigate what is needed in order to bring a new idea into the market. Success Criteria Explain what a calculated risk is using an example Identify and explain what the dragons would define as a ‘Risk’ C and above

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Learning Objectives Explore what is meant by ‘risk’ Investigate what is needed in order to bring a new idea into the mar

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  1. Learning Objectives • Explore what is meant by ‘risk’ • Investigate what is needed in order to bring a new idea into the market. Success Criteria • Explain what a calculated risk is using an example • Identify and explain what the dragons would define as a ‘Risk’ C and above • Explain how we could minimise risk in order to bring a new idea into the market. B and above • Discuss how we could minimise risk in order to bring a new idea into the market.

  2. Starter If you were starting up your own fast food restaurant what would the risks be?

  3. Title - RISK • Calculated Risk– the probability of a negative event occurring e.g. the risk of an employee getting burnt from cooking, the risk is moderate, 30 % • Downsides-the disadvantages of a course of action, including what can go wrong • Upsides – the advantages of a course of action, including what can go right In a business plan you should weigh up the downsides as well as the upsides

  4. Dragons Den - Video http://www.youtube.com/watch?v=0uX0DWjyGOE

  5. Dragons Den Questions • What skills you think each applicant possesses? • What has been highlighted as a risk and why? • How could the risk/s be minimised?

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