Economics and Business · Term 4

Ethical Consumption and Sustainability

Students will explore the concept of ethical consumption, considering the social and environmental impacts of their purchasing choices.

About This Topic

Business Innovation explores how entrepreneurs identify opportunities and use creative thinking to solve problems. Students investigate the characteristics of successful innovators, such as resilience, risk-taking, and the ability to see things from a different perspective. They also look at how businesses use innovation to stay competitive and how 'social enterprises' use business models to solve social or environmental problems.

In the Year 8 Economics and Business curriculum, this topic encourages students to be 'entrepreneurial.' It teaches them that business isn't just about making money, but about creating value and solving needs in the community. By studying local and global examples of innovation, students develop their own problem-solving skills and learn the importance of 'continuous improvement' in any organization.

Students grasp this concept faster through a 'Shark Tank' style activity where they must pitch their own innovative solution to a common problem.

Active Learning Ideas

Simulation Game: The Classroom Shark Tank

Students work in groups to identify a common problem (e.g., messy lockers, heavy school bags) and design an innovative solution. They must 'pitch' their idea to a panel of 'sharks' (the teacher or other students).

⏱ 60 min·Small Groups

Generate mission

Think-Pair-Share: What Makes an Entrepreneur?

Students identify a famous innovator (e.g., Melanie Perkins, Elon Musk). They discuss what traits that person has and how those traits helped them succeed in business.

⏱ 20 min·Pairs

Generate mission

Inquiry Circle: Social Enterprises

Groups research a business that exists to do good (e.g., Thankyou, Who Gives A Crap). They must explain how the business makes money and how that money is used to help people or the planet.

⏱ 45 min·Small Groups

Generate mission

Watch Out for These Misconceptions

Common Misconception

Innovation is only for 'tech' companies.

What to Teach Instead

Innovation can happen in any business, from a local cafe finding a new way to reduce waste to a clothing brand using new materials. A 'Shark Tank' activity helps students see that innovation is about problem-solving, not just technology.

Common Misconception

Businesses only care about making a profit.

What to Teach Instead

Many modern businesses, especially social enterprises, have a 'double bottom line', they want to be profitable AND have a positive social impact. Collaborative research into social enterprises helps students see this broader goal.

Frequently Asked Questions

What is an entrepreneur?

An entrepreneur is someone who starts and manages a business, taking on financial risks in the hope of making a profit. They are often innovators who find new ways to provide products or services.

What is a social enterprise?

A social enterprise is a business that is driven by a social or environmental mission. They make money like any other business, but they reinvest their profits into achieving their mission.

How can active learning help students understand business innovation?

By using 'Design Thinking' challenges, where students have to prototype and test an idea, they experience the actual process of innovation. This active approach teaches them that innovation is a skill that can be learned through trial, error, and feedback, rather than just a 'lightbulb moment.'

Why is innovation important for businesses?

Innovation helps businesses stay competitive by allowing them to offer better products, lower their costs, or reach new customers. Without innovation, businesses can become outdated and be replaced by newer, more efficient competitors.

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