Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Economics
Lesson Topic: Reasons for the survival of small firms
Learning Objective/s:
  • Describe the internal capabilities that give small firms a competitive edge.
  • Explain how external conditions such as market niche and government support influence firm survival.
  • Analyse strategic choices (differentiation, cost leadership, alliances, diversification) and predict their impact on profitability.
  • Apply a simple profit formula to evaluate cost‑control decisions in small businesses.
Materials Needed:
  • Projector and screen
  • PowerPoint slide deck summarising internal, external, and strategic factors
  • Printed handout of the summary table
  • Case‑study worksheets for small‑firm scenarios
  • Whiteboard and markers
 Introduction:

Begin with a quick poll: “What small business in your community has survived for more than 10 years and why?” Use responses to activate prior knowledge of firm survival. Explain that today’s lesson will uncover the key internal, external, and strategic reasons small firms endure, and outline the success criteria: students will be able to identify and evaluate these factors.
Lesson Structure:
  1. Do‑Now (5 min): Students list three reasons they think small firms survive on sticky notes; share and cluster ideas.
  2. Mini‑lecture (10 min): Present internal factors with real‑world examples, using the slide deck.
  3. Group activity (12 min): In pairs, analyse a case study worksheet to match internal, external, and strategic factors to survival outcomes.
  4. Whole‑class debrief (8 min): Groups report findings; teacher fills the summary table on the board.
  5. Strategic simulation (10 min): Students choose a strategic option for a given SME and justify using profit formula.
  6. Check for Understanding (5 min): Quick quiz via Kahoot or hand‑raise questions covering key concepts.
Conclusion:

Summarise how internal strengths, supportive external environments, and deliberate strategic choices interact to boost small‑firm survival. Ask students to write one “exit ticket” stating the factor they consider most critical and why. Assign homework: research a local SME and prepare a brief report linking its survival to at least two of the discussed factors.