ECONOMICS Encourage Enterprise and Entrepreneurial Skills Unit 9 Project.

ECONOMICS Encourage Enterprise and Entrepreneurial Skills

Unit 9 Project

OBJECTIVESIn this project students will:

Have a budget of 10,000 AED which they have gathered from their school salary to start up a

business. They will prepare a business plan, budget, analyse the market needs and sell their

product at a profit. Each member will have a role in this team, therefore, each and every

member will have to collaborate to guarantee the success of this project. Teachers will have a

minimum role and will only provide very little help.

SO…, Students will:

 Design, plan, analyze and prepare a budget for a business of their choice.

Be divided into groups of at least 4 members, where each group with have a:

1) Finance & Personnel Manager 2) Research & Development Manager 3)Marketing & Sales Manager

4) CEO

 Justify choices through research

 Display findings using charts/graphs and give a presentation.

This activity can be accomplished in the classroom once you have completed unit 9.

CORE SKILLS

Students will take part in many activities. These activities will include:

 Collecting, analyzing, organizing and applying information in a given context.

Collaboration between students within their group to work towards and defined outcome.

Little support from teachers and minimum instruction to support independent learning.

Initiating and organizing self and activities. Becoming motivated, exploring and being creative. Applying information and communication technology.

MUST HAVES, ELECTIVES AND EXTRASWHAT YOU NEED TO CONSIDER

Must Haves 3 Electives 1 Extra

• A creative and original business idea [team]

• A name for your business [team]

• Description of your business’ product or service [R&D]

• Budget (costs of production, employees, rent, delivery, advertising / revenue from sales = profit) [F&P]

• Target customers (justify who will you sell to and how you’ll interest them) [M&S]

• Business structure (price, place, promotion and product) [CEO]

• Presentation [team]

• Infographic to show your budget with a written description

• Advertisement / video commercial

• Written report to describe and evaluate the business plan

• Evaluate weaknesses and strength in your business.

• A website for the company

• Interview clients to collect data about the chosen product

• Suggest ways your business can save money

• Video game product placement

• Logo

UNIT 9 PROJECT BUSINESS PLAN JOBS 1) Finance & Personnel Manager (Investigates the funding and spending for your company.)

2) Research & Development Manager (Creates and describes new Products and services)

3) Marketing & Sales Manager(creates brand awareness to sell the product)

4) Chief Executive Officer (The CEO is the chosen leader group)

1) Finance & Personnel Manager (Investigates the funding and spending for your company.)

Helpful Questions: What is the cost of producing your product? Where will you produce the Product? How much will you pay your employees? Factor in the cost of the materials from the R&D Manager. Factor in the cost of the marketing from the M&S Manager How can you get more money? What will be the cost of that money? What will your profit margin be? When will you make a profit?

Tasks: Helps make a spread sheet Present description of business costs and revenue expectations Make info graphic.

2) Research & Development Manager (Creates and describes new Products and services)

Helpful Questions: When was your product or service invented? Give a short history. Who will be your competitor? How will you set yourself apart to be different/better than your competitors? Compare yourself to a competitor, what does your product have that competitor does not? What materials will you use for your product or service? How much will the cost of the materials be? Where will you source your materials?

Tasks: Research Design or Draw a picture of your product or service. Describe the product or service. Describe the current economic sector for your Business’ industry Help make a logo. Helps make a spread sheet.

3) Marketing & Sales Manager (creates brand awareness to sell the product)

Helpful Questions: Who is your target customer? Describe your ideal customer's age, interests, financial situation. Is your product something they need or something want? How will you reach your customer? Where will you sell your product? Will you have your own store or Will you be sold in other stores? Where will you put these ads to reach your target customer. How much will the ads cost?

Tasks: Research Make an advertisement/commercial Describe your target customer Present how you will create brand awareness. Helps make a spread sheet

4) Chief Executive Officer (The CEO is the chosen leader group)

Make sure tasks are getting done Helps with work in all departments so the team works

together Puts together the presentation Helps decide business’ location Helps make a spread sheet Help make a logo. Help make a name.

LESSON ONE

In lesson one students will: Divide into Groups and divide jobs. Look at the Must Haves, Electives and Extras. Brainstorm business ideas. Make a list of items needed for this project.. Decide what is needed for the next class.

WATCH THIS VIDEO AND TAKE NOTES The Junior Apprentice :

https://youtu.be/FuiPcA1Mj2s

https://youtu.be/2rHxyQqo2R8

https://youtu.be/wTuhOkBxdio

LESSON 2

In lesson 2 students will:

Decide on the product or service they will promote or sell. Research it and choose your target customers. Answer questions… What? Who? When? Where? Why?

How? Information about your business Name your business

LESSON 3

A description of the economic sector.

Start budgeting for your business ensuring that your are

generating profit . (Remember, support your ideas with

research)

Think of a place and a price for your product.

How are you going to promote it and package it.

LESSON 4

In lesson 4 students will:

Write an introduction to the presentation

Write down the information that will be used in the

presentation.

Prepare the infographics and description

Prepare some counter-arguments for what audience

members will say during the presentation.

LESSON 5

Time to finalise your project!!!

Prepare a slideshow / presentation showing

your business plan

Identify how to give great presentations.

Plan the presentation.

Give each group member a part to present.

PRE-PRESENTATION

Make sure that your presentation :

Is clearly organised and interesting.

Provides a clear description of the of your business.

Has all the must haves, 3 electives and an extra.

NOW, MAKE SURE THAT YOU:

Know what you will say.

Practice your words many times.

Make eye contact with your audience.

Know which student is before you and after you in my group.

Make sure the videos in my presentation work.

LESSON 6 AND 7

In lesson 6 and 7 students will:

Give group presentations.

Evaluate the presentations of their peers.

Learn how to self-reflect on their performance.

Build a self-improvement plan for presenting.

RUBRIC: WRITING

RUBRIC: PRESENTATION AND BUSINESS PLAN