Running an Enterprise Activity
This element focuses on the practical aspects of planning, executing, and evaluating a small-scale enterprise activity. Learners apply key success factors to increase the chances of achieving their goals and subsequently reflect on the outcomes to identify areas for improvement. It bridges theoretical knowledge of enterprise with hands-on experience in a controlled setting.
Assessment criteria
Topic Overview
The Open Awards Level 1 Award in Enterprise Skills (RQF) is designed to introduce you to the world of enterprise and entrepreneurship. This qualification covers the essential skills needed to develop a business idea, understand customers, and manage basic finances. It is ideal if you are considering starting your own business or want to build transferable skills for employment.
Throughout the course, you will learn how to generate ideas, carry out simple market research, create a basic business plan, and present your ideas to others. You will also explore the characteristics of successful entrepreneurs and how to work effectively in a team. This award is part of the Employability & Work Skills suite, helping you prepare for further study or entry-level roles in business.
By completing this award, you will gain confidence in your ability to think creatively, solve problems, and communicate professionally. These skills are highly valued by employers and can be applied in any career path. The qualification is assessed through practical tasks and a portfolio of evidence, making it a hands-on learning experience.
Key Concepts
Core ideas you must understand for this topic
- →Enterprise skills: The ability to identify opportunities, take initiative, and manage resources to achieve goals.
- →Market research: Gathering information about customers and competitors to make informed business decisions.
- →Business planning: Creating a simple document that outlines your business idea, target market, costs, and expected income.
- →Entrepreneurial characteristics: Qualities such as resilience, creativity, risk-taking, and leadership that help businesses succeed.
- →Financial basics: Understanding profit, loss, revenue, and costs to ensure a business is viable.
Learning Objectives
What you need to know and understand
- Know how to increase the likelihood of success in an enterprise activity.Be able to complete an enterprise activity.Be able to review the success of the enterprise activity
Assessment Criteria
Key criteria assessors look for in your portfolio
- Award credit for a clear plan that identifies at least two specific factors likely to contribute to the success of the enterprise activity, such as effective teamwork or resource management.
- Expect evidence of active participation in completing the enterprise activity, demonstrated through a log, witness statement, or photographic records.
- For the review, require a structured reflection that compares intended success criteria against actual outcomes and suggests at least one improvement for future activities.
Assessment Guidance
Guidance for achieving higher grades
- 💡Maintain a daily log or diary throughout the enterprise activity to capture real-time evidence and reflections, which will strengthen both the completion and review sections.
- 💡Before starting, clearly define what 'success' looks like for your specific activity, and refer back to these criteria when writing your review to demonstrate analytical thinking.
- 💡Use the 'success factors' from the knowledge criteria (e.g., planning, teamwork, marketing) as a checklist to show how you applied them during the activity.
- 💡When presenting your business idea, be clear about what makes it different from competitors. Use simple language and focus on the benefits to customers.
- 💡In your business plan, show that you have considered realistic costs and pricing. Even if your figures are estimates, explain how you arrived at them.
- 💡During team activities, demonstrate your ability to listen to others and contribute ideas. Assessors look for evidence of collaboration and respect for different viewpoints.
Common Mistakes
Common errors to avoid in your coursework
- Assuming success is solely financial and overlooking other measures such as customer satisfaction or learning gained.
- Failing to record the enterprise activity as it happens, leading to insufficient evidence for the completion and review stages.
- Submitting a review that simply describes what happened without evaluating against the original success criteria or identifying lessons learned.
- Misconception: Enterprise skills are only for people who want to start a business. Correction: These skills, like problem-solving and teamwork, are valuable in any job and everyday life.
- Misconception: You need a lot of money to start a business. Correction: Many successful businesses start with little money by focusing on low-cost ideas and reinvesting profits.
- Misconception: Market research is only about asking friends and family. Correction: Effective research involves talking to potential customers, analysing competitors, and using online tools to get unbiased feedback.
Frequently Asked Questions
Common questions students ask about this topic
Pass / Merit / Distinction Evidence Checklist
How your portfolio evidence is graded for OPEN AWARDS Running an Enterprise Activity
Every vocational unit is marked against named criteria rather than an exam percentage. Your tutor's brief lists the exact codes for this unit — here is what each band is asking you to do.
Demonstrate baseline knowledge, accurate terminology, and core practical application.
Provide detailed analysis, structured explanations, and clear workplace reasoning.
Deliver thorough evaluation, original problem solving, and fully justified recommendations.
Before You Start
Prior knowledge that will help with this topic
- •Basic numeracy and literacy skills (e.g., ability to calculate simple costs and write short paragraphs).
- •An interest in business or entrepreneurship (no prior knowledge required).
Coursework AI Review
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Key Terminology
Essential terms to know
- Know how to increase the likelihood of success in an enterprise activity.Be able to complete an enterprise activity.Be able to review the success of the enterprise activity
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