Business Analysis and Sales Forecasting
Curriculum type:
Academic subject areas: History/Social Sciences; Career-Technical Education
States' Career Clusters: Finance; Business Management & Administration; Marketing
California Industry sector(s): Finance and Business; Marketing, Sales, and Service
Duration: 3 class periods
Grade Targets: 11, 12, Post high school
Level of Expertise for CTE: Capstone/Advanced
Standards Addressed: Standards not explicitly addressed
Source: Web Site
Credit: Submitted by aashwin; www.bized.co.uk, 2004
Curriculum Link: http://www.bized.co.uk/educators/16-19/business/strategy/lesson/analysis.htm
Related Website(s):
http://www.bized.co.uk
Abstract
These lessons focus on business analysis and sales forecasting techniques. The PowerPoint Presentation, Mind Map and Activity an overview and a practical example of how sales forecasts can be used and the strengths and limitations of them. The context for the activity is the National Lottery, attempting to get students to understand the importance of forecasting as a means of planning, of meeting expected demand, stock control and so on.
Expected Student Outcomes/Objectives
At the end of these lessons, students should be able to understand:
• The main methods used to analyse business performance
• How to identify trends in data
• How to calculate averages and moving averages from data
• The implications of analysis for business planning
• The strengths and limitations of forecasting techniques
Description
Lesson 1
1.Outline the main learning objectives of the series of lessons. (5 minutes)
2.Draw on students' previous knowledge by asking them to identify, in pairs, the main methods by which a business might analyse its performance (sales figures, share price, market share, etc.) Feed back results to the whole class - briefly discuss the results of student discussions. (10 minutes)
3.Focus on the need to get quantifiable data from the types of analysis identified and discuss what methods of quantitative data might be useful to a business - averages, index numbers, nominal data, etc. Discuss the different ways in which a business might present such data to different stakeholders and why different methods might be appropriate for the different groups. (15 minutes)
4.Introduce the main features of business analysis via the PowerPoint Presentation. Discuss the points raised in the light of the discussions from the lesson so far. (20 minutes)
5.Introduce the Activity and outline the task students will be engaged with during the next lesson. (5 minutes)
6.Review key learning points from this lesson. (5 minutes)
Lesson 2
1.Review the main points from the previous lesson. (5 minutes)
2.Give out the Activity (or direct students to PCs) and set students onto the task. (50 minutes)
3.Bring students together to highlight the main points of the lesson and to set the scene for the next lesson - a review and reflection of the learning outcomes of the lessons. (5 minutes)
Lesson 3
1.Summarise the points from the previous lesson. Explain that this lesson is about drawing together the learning from the two previous lessons. (5 minutes)
2.Start a discussion about the points raised in the questions. (45 minutes) ◦What trends did students identify? Why did students identify different trends? What does this tell us about the problems businesses face in establishing and identifying trends?
◦Discuss issues relating to the presentation of data - what is appropriate and why?
◦What value is there in extrapolating data for a company like Camelot?
◦How valuable is sales forecasting? Does it depend on the type of business? Is it more appropriate for some types of business compared to others and if so what types and why?
3.Draw together the discussions and summarise the conclusions drawn on the board. (10 minutes)
Culminating Activity and/or Assessment
none identified
Instructional Materials Needed
PowerPoint Presentation -Business Analysis - [140K] (basic version also available for quicker download [127K])
• Mind Map - Business Analysis
• Activity - Business Analysis
•Access to spreadsheet programme (optional)
•Graph paper (optional)
•Calculators
•Data projector and whiteboard
•PCs for further student research
Instructional Materials Provided
Lesson plan with links to requred documents and relevant web sites.
Cost
free
Reviewer Comments
Biz/ed is a free online service for students, teachers and lecturers of business, economics, accounting, leisure and recreation and travel and tourism.
Biz/ed Team
Cengage Learning EMEA
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