Unit 1 DB: Life Skills in the Business Environment 2023 Business Finance

2023 Congratulations you have won a contest that will provide you with funding and resources to


Congratulations – you have won a contest that will provide you with funding and resources to start an organization of your very own!  While this new venture is exciting, you are nervous about the thought of being in charge – you have never managed something of this magnitude before!  You do have invaluable personal experience that can help you though.

Choose a type of organization that you would like to start.  Now, think about how you run and manage your life on a daily basis and how this compares to running a business – your responsibilities, interactions with others, contributions to society, awareness of worldly events, use of technology, planning ahead to achieve your goals, etc.

Consider the following four factors that businesses and organizations face:

  • competition
  • social environment
  • globalization
  • technological changes

First, describe the type organization you’re going to start.

Second, define each of the four terms used above

Third, describe how each of these four factors is going to affect your new organization.

And lastly, based on your personal life skills, which one factor will you be able to build upon to provide the most opportunities for your organization, and why?  Which one factor will be most challenging for you, and why?  Explain your answers.

In response to at least two classmates, compare your answers and ask questions to help them become more aware of what they bring to the organization from their personal lives that could help address the challenges and improve upon the opportunities.

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