Grade 10 Business Studies Business and Money Management – Business Goals (13 Lessons) Notes
Business Studies — Business & Money Management
Subtopic: Business Goals (13 Lessons)
- a) Analyse the importance of goal setting in business.
- b) Examine the factors to consider when setting goals for a business.
- c) Describe steps followed when setting business goals.
- d) Formulate SMART short-term and long-term goals for a business.
- e) Appreciate the need for setting goals in business.
Overview
This 13-lesson unit helps learners (age 15) understand why businesses set goals, how to set good goals, and how to write SMART goals for both short-term and long-term plans. Local Kenyan examples (duka/kiosk, boda-boda, maize farming, Jua Kali workshop, small digital business using M-Pesa & social media) are used to make lessons practical.
Lesson-by-lesson guide (13 lessons)
Content: What is a business goal? Difference between aims, objectives and goals.
- Activity: Class discussion — give 3 goals for a school tuckshop (duka).
- Outcome: Learners can define 'goal' and give local examples.
Content: Purpose of goals — direction, planning, motivation, measuring success, attracting investors.
- Local example: How a duka owner uses sales targets to buy stock and pay rent.
- Activity: Small group role-play — owner sets monthly sales goal; decide actions to reach it.
Content: Better decisions, resource use, staff focus, growth and risk management.
- Class task: Match benefits to scenarios (e.g., savings target helps expand a boda-boda fleet).
Content: Market, resources (capital, labour), time frame, risks, legal/regulatory issues, culture and environment.
- Example: A maize farmer sets goals considering seasons, input costs, and market prices.
- Activity: List five factors for a Jua Kali metalworker wanting to grow business.
Content: Distinguish internal (skills, capital, staff) from external (competition, laws, tech, economy) factors.
- Activity: Case study — how a new mobile money regulation could affect small traders using M-Pesa.
Content: Step 1 — Assess current situation (SWOT basics); Step 2 — Identify priorities.
- Activity: Conduct a simple SWOT for the school duka.
Content: Step 3 — Write clear goals; Step 4 — Set timeframes and responsibilities.
- Activity: Write 3 goals for a small bakery with person responsible and deadline.
Content: Step 5 — Plan actions and needed resources; Step 6 — Monitor progress and review.
- Activity: Make a simple action plan for a goal: sell 100 loaves per week.
Content: SMART = Specific, Measurable, Achievable, Relevant, Time-bound.
- Visual: S • M • A • R • T
- Activity: Convert a vague goal "grow business" into a SMART goal.
Content: Short-term = days to 12 months. Examples and learner practice.
- Example 1: "Increase duka weekly sales from KSh 8,000 to KSh 10,000 in 3 months by introducing 5 new fast-moving items and running a customers' discount day every Friday."
- Activity: Students write two short-term SMART goals for chosen local business.
Content: Long-term = 1 year and above. Strategy alignment and investment planning.
- Example 2: "Expand the duka into a second branch within 2 years by saving 30% of monthly profit and training one assistant."
- Activity: Create a 3-year SMART goal for a boda-boda owner aiming to buy a motorcycle and hire one rider.
Content: How to monitor (sales records, cashbooks, customer feedback), when to review and how to adapt goals.
- Activity: Fill a simple monitoring table for weekly sales and progress toward a goal.
Content: Students present one short-term and one long-term SMART goal for a chosen business and explain why goals matter.
- Assessment: Presentations and written action plans assessed using a simple rubric (clarity, SMART criteria, realism).
Key content summaries
- Provides direction and focus for the business.
- Aids planning and efficient use of resources (money, time, staff).
- Helps measure success and identify when to change strategy.
- Motivates owners and employees by creating clear targets.
- Attracts investors or lenders who want clear plans.
- Available resources: capital, skills, staff, equipment.
- Market demand and competition in local area (e.g., number of dukas in town).
- Legal/regulatory environment (licenses, taxes, business registration).
- Timeframe, seasonality (planting/harvesting, holiday demand).
- Risk factors: price changes for inputs, weather, theft.
- Personal goals and values of the owner (family needs, education).
- Assess the current situation (quick SWOT).
- Decide priorities and long-term vision.
- Write clear goals (use SMART where possible).
- Assign responsibilities and set deadlines.
- Plan actions and resources needed (budget, staff, marketing).
- Monitor results and review goals regularly; adjust when needed.
- Specific: What exactly will be achieved?
- Measurable: How will you know it is done? (numbers, dates)
- Achievable: Is it realistic with available resources?
- Relevant: Does it match the business plan or owner's aims?
- Time-bound: When will it be achieved?
Examples (Kenyan context)
"Increase weekly sales from KSh 8,000 to KSh 10,000 within 3 months by adding 5 popular snack items, offering a Friday discount and keeping a daily sales record."
Example SMART long-term goal (boda-boda):"Buy a new motorcycle within 18 months by saving KSh 4,000 monthly from earnings and joining a group savings (chama) that contributes KSh 1,000 monthly."
Example SMART long-term goal (maize farmer):"Increase maize yield by 30% in two seasons by adopting certified seeds, applying recommended fertilizer, and attending one county extension training before the next planting season."
Suggested learning experiences & classroom activities
- Group SWOT and goal-writing workshops using local business scenarios.
- Role-play: business owner presenting goals to a lender or to family.
- Practical: keep a simple 4-week cashbook to monitor progress against a short-term goal.
- Project: each learner prepares one short-term and one long-term SMART goal for a chosen business and presents to class.
- Field visit or guest speaker: invite a local entrepreneur (duka owner, barber, boda-boda operator) to share how they set goals.
Assessment ideas
- Short quiz (see below), class participation, and group tasks.
- Worksheet: write 1 short-term and 1 long-term SMART goal with action steps and a simple monitoring table.
- Presentation assessed with rubric: clarity, SMART criteria, realism, monitoring plan.
Quick 6-question quiz (for review)
- Define a business goal in one sentence.
- Name three benefits of setting business goals.
- List two internal and two external factors to consider when setting goals.
- Write a SMART short-term goal for a school tuckshop.
- What does the 'A' in SMART stand for? Give a one-line explanation.
- Give one method to monitor progress towards a sales goal.
Answers (click to reveal)
- A business goal is a clear result the business plans to achieve within a set time frame.
- Examples: gives direction, measures progress, helps use resources better. (Any three acceptable.)
- Internal: capital, skills. External: competition, market demand (also legal, seasonality).
- Example: "Increase weekly sales from KSh 6,000 to KSh 8,000 within 2 months by adding two top-selling snacks and promoting on Friday." (Must be Specific, Measurable, Achievable, Relevant, Time-bound.)
- 'A' = Achievable — meaning the goal is realistic given available resources and constraints.
- Keep a daily/weekly sales record or cashbook; use simple charts to compare target vs actual.
Teacher notes & tips
- Use familiar local businesses to make lessons relatable.
- Encourage students to think of realistic numbers and timeframes — avoid unrealistic targets.
- Make monitoring simple (paper cashbook or phone spreadsheet) so learners can practise tracking goals.
- Link lessons to life skills: saving, teamwork, responsibility and planning for the future.