What to do
Note to teacher: This Internal Assessment Activity may be used unchanged, or can be adapted by the teacher, ensuring that all requirements of the Achievement Standard are still met. This textbox should be removed prior to sharing the activity with your students.
Note to teacher: This Internal Assessment Activity may be used unchanged, or can be adapted by the teacher, ensuring that all requirements of the Achievement Standard are still met. This textbox should be removed prior to sharing the activity with your students.
This Assessment Activity assesses an important part of running a business, which is setting and reviewing the price of its good or service. As part of your course, you will be planning and running your own business, and this Assessment Activity is based on decisions you will be making for your business.
Step 1: Prepare a business pitch to outline some financial and non-financial information about your business and how your business determined the price of your good or service.
- Describe your good or service.
- Describe the pūtake of your business and expectations of your target market and other stakeholders.
- Identify any other financial or non-financial information relevant to your business and the pricing decision. This might include market research into:
- non-financial information, such as kaitiakitanga of resources
- financial information, such as what similar businesses are charging for similar goods or services.
- Use this financial and non-financial information and a model or concept to determine a price for your good or service.
Your pitch should be 1-2 minutes in duration. Support your pitch with presentation slides.
Step 2: Explore how the price might change over time in response to changes in internal or external factors.
Your kaiako will introduce a change in an internal or external factor, for example they might introduce a tax.
- Explain how this factor could affect different areas of your business and the price of your good or service, as well as explaining options for changing (or not changing) the price.
- Make sure your explanation is supported by financial or non-financial information, and a model or concept.
Step 3: Evaluate the pricing decision.
- Justify the price you have determined after the change in internal or external factor. Make sure your justification is supported by financial or non-financial information, and a model or concept.
- Discuss possible consequences of the pricing decision for both your business and its stakeholders, eg your customers.
This Assessment Activity assesses an important part of running a business, which is setting and reviewing the price of its good or service. As part of your course, you will be planning and running your own business, and this Assessment Activity is based on decisions you will be making for your business.
Step 1: Prepare a business pitch to outline some financial and non-financial information about your business and how your business determined the price of your good or service.
- Describe your good or service.
- Describe the pūtake of your business and expectations of your target market and other stakeholders.
- Identify any other financial or non-financial information relevant to your business and the pricing decision. This might include market research into:
- non-financial information, such as kaitiakitanga of resources
- financial information, such as what similar businesses are charging for similar goods or services.
- Use this financial and non-financial information and a model or concept to determine a price for your good or service.
Your pitch should be 1-2 minutes in duration. Support your pitch with presentation slides.
Step 2: Explore how the price might change over time in response to changes in internal or external factors.
Your kaiako will introduce a change in an internal or external factor, for example they might introduce a tax.
- Explain how this factor could affect different areas of your business and the price of your good or service, as well as explaining options for changing (or not changing) the price.
- Make sure your explanation is supported by financial or non-financial information, and a model or concept.
Step 3: Evaluate the pricing decision.
- Justify the price you have determined after the change in internal or external factor. Make sure your justification is supported by financial or non-financial information, and a model or concept.
- Discuss possible consequences of the pricing decision for both your business and its stakeholders, eg your customers.
How to present your learning
You may present your evidence in the following ways:
Step 1:
One-to-two-minute business pitch with supporting slide presentation. This could be presented to the class, the kaiako, or as a video recording.
Steps 2 and 3:
You may choose from the following options:
- an oral presentation (three to four minutes)
- a slide presentation (up to eight slides maximum)
- a written report (within 500-600 words)
- a voice recording (three to four minutes)
- a video (three to four minutes).
You may work together in a group to discuss and plan your business, but you must individually present your work to show you have met all the requirements of the Achievement Standard.
You may present your evidence in the following ways:
Step 1:
One-to-two-minute business pitch with supporting slide presentation. This could be presented to the class, the kaiako, or as a video recording.
Steps 2 and 3:
You may choose from the following options:
- an oral presentation (three to four minutes)
- a slide presentation (up to eight slides maximum)
- a written report (within 500-600 words)
- a voice recording (three to four minutes)
- a video (three to four minutes).
You may work together in a group to discuss and plan your business, but you must individually present your work to show you have met all the requirements of the Achievement Standard.
Timeframe
You will have eight hours of time in and out of class to complete the Assessment Activity. This time could be split between time to complete Step 1 and time given later to complete Steps 2 and 3.
You will have eight hours of time in and out of class to complete the Assessment Activity. This time could be split between time to complete Step 1 and time given later to complete Steps 2 and 3.
What to do
Note to teacher: This Internal Assessment Activity may be used unchanged, or can be adapted by the teacher, ensuring that all requirements of the Achievement Standard are still met. This textbox should be removed prior to sharing the activity with your students.
Note to teacher: This Internal Assessment Activity may be used unchanged, or can be adapted by the teacher, ensuring that all requirements of the Achievement Standard are still met. This textbox should be removed prior to sharing the activity with your students.
This Assessment Activity assesses an important part of running a business, which is setting and reviewing the price of its good or service. As part of your course, you will be planning and running your own business, and this Assessment Activity is based on decisions you will be making for your business.
Step 1: Prepare a business pitch to outline some financial and non-financial information about your business and how your business determined the price of your good or service.
- Describe your good or service.
- Describe the pūtake of your business and expectations of your target market and other stakeholders.
- Identify any other financial or non-financial information relevant to your business and the pricing decision. This might include market research into:
- non-financial information, such as kaitiakitanga of resources
- financial information, such as what similar businesses are charging for similar goods or services.
- Use this financial and non-financial information and a model or concept to determine a price for your good or service.
Your pitch should be 1-2 minutes in duration. Support your pitch with presentation slides.
Step 2: Explore how the price might change over time in response to changes in internal or external factors.
Your kaiako will introduce a change in an internal or external factor, for example they might introduce a tax.
- Explain how this factor could affect different areas of your business and the price of your good or service, as well as explaining options for changing (or not changing) the price.
- Make sure your explanation is supported by financial or non-financial information, and a model or concept.
Step 3: Evaluate the pricing decision.
- Justify the price you have determined after the change in internal or external factor. Make sure your justification is supported by financial or non-financial information, and a model or concept.
- Discuss possible consequences of the pricing decision for both your business and its stakeholders, eg your customers.
This Assessment Activity assesses an important part of running a business, which is setting and reviewing the price of its good or service. As part of your course, you will be planning and running your own business, and this Assessment Activity is based on decisions you will be making for your business.
Step 1: Prepare a business pitch to outline some financial and non-financial information about your business and how your business determined the price of your good or service.
- Describe your good or service.
- Describe the pūtake of your business and expectations of your target market and other stakeholders.
- Identify any other financial or non-financial information relevant to your business and the pricing decision. This might include market research into:
- non-financial information, such as kaitiakitanga of resources
- financial information, such as what similar businesses are charging for similar goods or services.
- Use this financial and non-financial information and a model or concept to determine a price for your good or service.
Your pitch should be 1-2 minutes in duration. Support your pitch with presentation slides.
Step 2: Explore how the price might change over time in response to changes in internal or external factors.
Your kaiako will introduce a change in an internal or external factor, for example they might introduce a tax.
- Explain how this factor could affect different areas of your business and the price of your good or service, as well as explaining options for changing (or not changing) the price.
- Make sure your explanation is supported by financial or non-financial information, and a model or concept.
Step 3: Evaluate the pricing decision.
- Justify the price you have determined after the change in internal or external factor. Make sure your justification is supported by financial or non-financial information, and a model or concept.
- Discuss possible consequences of the pricing decision for both your business and its stakeholders, eg your customers.
How to present your learning
You may present your evidence in the following ways:
Step 1:
One-to-two-minute business pitch with supporting slide presentation. This could be presented to the class, the kaiako, or as a video recording.
Steps 2 and 3:
You may choose from the following options:
- an oral presentation (three to four minutes)
- a slide presentation (up to eight slides maximum)
- a written report (within 500-600 words)
- a voice recording (three to four minutes)
- a video (three to four minutes).
You may work together in a group to discuss and plan your business, but you must individually present your work to show you have met all the requirements of the Achievement Standard.
You may present your evidence in the following ways:
Step 1:
One-to-two-minute business pitch with supporting slide presentation. This could be presented to the class, the kaiako, or as a video recording.
Steps 2 and 3:
You may choose from the following options:
- an oral presentation (three to four minutes)
- a slide presentation (up to eight slides maximum)
- a written report (within 500-600 words)
- a voice recording (three to four minutes)
- a video (three to four minutes).
You may work together in a group to discuss and plan your business, but you must individually present your work to show you have met all the requirements of the Achievement Standard.
Timeframe
You will have eight hours of time in and out of class to complete the Assessment Activity. This time could be split between time to complete Step 1 and time given later to complete Steps 2 and 3.
You will have eight hours of time in and out of class to complete the Assessment Activity. This time could be split between time to complete Step 1 and time given later to complete Steps 2 and 3.