Grade 8 Business Studies Lesson Plan: Understanding Private and Public Companies

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Lesson Plan Title:

Grade 8 Business Studies Lesson Plan: Understanding Private and Public Companies

Materials Needed:

  • Textbook: “Grade 8 Business Studies” CAPS-approved
  • Whiteboard and markers
  • Projector and laptop for multimedia presentation
  • Worksheet packets on private and public companies
  • Internet access for a video clip on company structure (optional)

Learning Objectives:

By the end of the lesson, students will be able to:
1. Define what a private and public company is.
2. Identify the key differences between private and public companies.
3. Explain the characteristics and advantages of each type of company.
4. Understand the role of shareholders in private and public companies.

Vocabulary:

  1. Private Company: A business owned by individuals or a small group of investors that does not trade its shares on the public stock market.
  2. Public Company: A company whose shares are traded freely on the stock market.
  3. Shareholder: An individual or institution that owns shares in a company.
  4. Shares: Units of ownership interest in a company.
  5. IPO (Initial Public Offering): The process by which a private company becomes a public company by selling its shares to the public for the first time.

Previous Learning:

Students have previously learned about different types of business ownership, including sole proprietorships and partnerships. They are familiar with basic business vocabulary and concepts.

Anticipated Challenges and Solutions:

  • Challenge: Students may confuse the characteristics of private and public companies.
    Solution: Use clear and relatable examples, and provide a comparative chart.
  • Challenge: Some students might struggle with the concept of shareholders and stocks.
    Solution: Use a video clip to visually explain these concepts.

Beginning Activities (6 minutes):

  1. Introduction to the Objectives: Briefly introduce the day’s learning objectives.
  2. Activate Prior Knowledge: Ask students to recall key points about sole proprietorships and partnerships to establish a foundation.
  3. Icebreaker: Question the class, “Who has heard about companies like Apple or local family businesses? What do you think makes them different?”

Middle Activities (48 minutes):

  1. Direct Instruction (15 minutes):
  2. Define and explain the characteristics of private companies and public companies using the whiteboard.
  3. Show a short video clip (5 minutes) explaining the basic structure of private and public companies.
  4. Discuss the differences and write a comparative chart on the board.
  5. Guided Practice (15 minutes):
  6. Distribute the worksheet packets.
  7. Work through the first few questions together to model how to identify company types and characteristics.
  8. Illustrate with examples, such as comparing a local family-owned restaurant (private company) to a giant tech company like Microsoft (public company).
  9. Independent Practice (13 minutes):
  10. Students complete the remaining worksheet questions individually or in small groups. Walk around to provide assistance as needed.
  11. Optional: Provide a brief case study on a South African public company and a private company for students to analyse.

End Activities (6 minutes):

  1. Exit Ticket:
  2. Ask students to write down two key differences between private and public companies.
  3. Collect their responses as they exit to check understanding.
  4. Recap and Q&A: Summarise the main points of the lesson and answer any remaining questions.

Assessment and Checks for Understanding:

  • Worksheets: Evaluate the answers on the worksheet packets for correctness and comprehension.
  • Exit Ticket: Review the key differences noted by students to ensure they grasped the core topics.
  • Class Participation: Observe student engagement and responses during guided practice and discussions.

Differentiation Strategies for Diverse Learners:

  • For Struggling Learners: Use the more straightforward language in explanations, and provide additional visual aids like charts.
  • For Advanced Learners: Present a real-world scenario where they have to suggest whether a new business should opt to be a private or public company and justify their reasoning.
  • For English Language Learners (ELL): Ensure that key vocabulary is pre-taught and provide translated summaries if necessary.

Teaching Notes:

  • Educational Value: Understanding private and public companies is critical for students’ comprehension of the broader economic and business environment they live in.
  • Effective Delivery Tips: Use multimedia resources to maintain student interest. Real-world examples will make the lesson more relatable and engaging.
  • Accessibility Considerations: Ensure all multimedia resources are captioned and provide printouts of the day’s key points for students with accessibility needs.

Feel free to adjust according to specific classroom needs or timelines.