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Self Assessment - Afl

This document is a self-assessment checklist for a student on the topics of starting a business. It contains 23 multiple choice questions assessing the student's familiarity with concepts like business ownership structures, forming a limited company, factors for choosing a business location, sources of finance, production processes, and creating a business plan. The student is asked to indicate their level of understanding for each item as green (very familiar), orange (some idea), or red (no idea and needs study).

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186 views2 pages

Self Assessment - Afl

This document is a self-assessment checklist for a student on the topics of starting a business. It contains 23 multiple choice questions assessing the student's familiarity with concepts like business ownership structures, forming a limited company, factors for choosing a business location, sources of finance, production processes, and creating a business plan. The student is asked to indicate their level of understanding for each item as green (very familiar), orange (some idea), or red (no idea and needs study).

Uploaded by

api-301785352
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Miss Foley

Unit 5- Chapter 14- Getting Started

Name:

LC Business

Date:

Where is your learning at? Tick to indicate below.


Green:

I am very familiar with this

Orange:

I have some idea of this

Red:

I have no idea of this and need to study this


section

GETTING STARTEDSELF ASSESSMENT


1. I can define the term enterprise
2. I know the main reasons/motivations
for starting up business
3. I can explain problems facing start-up
businesses
4. I can outline the key issues
entrepreneurs must consider in relation
to their business start ups
5. I can discuss the four ownership
structures available to start-up
businesses
6. I can list the steps involved in the
formation of a limited company
7. I can explain the main documents
involved in the formation of a limited
company
8. I can outline three different types of
co-operatives
9. I can compare and contrast the four
types of business ownership structures
10 I can explain the term limited liability
.

Green Orange Red

Miss Foley

Unit 5- Chapter 14- Getting Started

LC Business

11. I can discuss a range of factors which


are taken into account when deciding
where to locate the business
Green Orange Red
12
.
13
.
14
.
15
.
16
.
17
.

I can explain what is meant by a


footloose business
I know the differences between short
term, medium term and long term
sources of finance
I can outline five factors to consider
when choosing a source of finance
I can define the terms equity capital
and debt capital
I can discuss the importance of
liquidity for a business
I can outline the factors businesses
need to consider when choosing a
source of finance
I can identify the elements of the three
production processes
I can outline the benefits and
drawbacks of franchising
I can discuss the explain the benefits
and drawbacks of subcontracting
I can illustrate the central role/purpose
of a business plan
I can list the contents of a business plan

18
.
19
.
20
.
21
.
22
.
23 I can create a business plan
.
24 I can explain two benefits of creating a
.
business plan

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