Course Profile The
Enterprising Person, Grade 11, Open, Catholic
Unit 5: The Entrepreneurial Experience
Time: 28 hours
Activity 1 | Activity 2
| Activity 3 | Activity 4
| Activity 5
Unit 5
introduces the student to the entrepreneurial experience. This unit examines
the characteristics and skills that are desirable for entrepreneurs. Students
can look back at their self-assessment to determine which skills and
characteristics they currently have and which they need to develop. Students
will learn to recognize entrepreneurial opportunities and develop ideas for those
opportunities. Students are provided with the opportunity to recognize a
business need in their own school communities, plan a business venture around
that need, and operate that business venture for a single school day.
|
Activity |
Time |
Expectations |
Assessment |
Tasks |
|
1. Recognizing Entrepreneurial Characteristics
And Skills |
4 hours |
ENV.O1,
EN1.01, EN1.02, EN1.03, EN1.04, CGE2a, CGE2b, CGE2d, CGE4g, CGE5b, CGE5h |
Knowledge/ Thinking/Inquiry Applications Making
Connections |
a) Difference between characteristics/ skills. b) Recognizing characteristics and skills. c) Interview with an entrepreneur |
|
2 When Opportunity Knocks! |
3.75 hours |
ENV.02,
EN2.01, EN2.02, EN2.03, CGE1d, CGE2b, CGE3c, CGE4d, CGE5a, CGE5e |
Knowledge/ Communication Thinking/Inquiry |
a) Problems/Solutions b) Recognizing Opportunities c) Current Changes and Trends |
|
3. Generating and Evaluating Ideas |
5 hours |
ENV.03,
EN3.01, EN3.02, CGE3b, CGE3c, CGE5a, CGE5e |
Knowledge/ Thinking/Inquiry Communication |
a) Video analysis b) Plus, Minus, Interesting |
|
4. Entrepreneurs Who have Taken Charge |
3.75 hours |
ENV.03,
EN3.03, EN3.04, EN3.05, CGE2b, CGE4d, CGE5b, CGE5h |
Knowledge/ Application Making
Connections Communication |
a) Creating an entrepreneurial scrapbook. b) Developing a problem-solving model. |
|
5. “Today Only” |
11.5 hours |
ENV.02,
ENV.03, ENV.04, EN4.01, EN4.02, EN4.03, EN4.04, EN4.05, EN4.06, CGE3b, CGE3c,
CGE3d, CGE4b, CGE4f, CGE5a, CGE5g, CGE7I, CGE7j |
Application Making
Connections Knowledge/ Thinking/Inquiry Communication |
a) Planning to operate a business for one day. b) Operating the business. c) Dissolving the business and writing final
report. |
Time: 4 hours
This
activity is designed to help students recognize the attitudes, attributes and
skills shared by entrepreneurs. By studying the individual stories of
entrepreneurs, through interviews and case studies, students will identify the
common and unique characteristics of entrepreneurs, and how these qualities
lead entrepreneurs to be agents of change in their communities by creating
better products and services, new jobs and other benefits to society. Students
will compare these characteristics of the entrepreneur with those of the
enterprising person. Students will also be encouraged to use self-assessment
tools to explore personal capacities for entrepreneurship relative to Christian
vocation and consistent with Catholic Social Teachings (The Common Good, The
Primacy of the Human Person, Preferential Option For The Poor). Students will
understand that it is not realistic for entrepreneurs to possess all personal
characteristics and skills. Forming partnerships is an alternative, whereby a
team made up of individuals with complementary characteristics and skills is
formed.
Overall
Expectations
ENV.01 -
analyse the attitudes, attributes, and skills shared by entrepreneurs.
Specific
Expectations
EN1.01 -
identify the attitude, attributes, and skills common to many entrepreneurs;
EN1.02 -
compare the characteristics of a number of entrepreneurs to see how they vary;
EN1.03 -
compare the characteristics of an entrepreneur with those of an enterprising
employee;
EN1.04 -
describe the characteristics of entrepreneurs that benefit communities and
society (e.g. they are agents of change, creators of jobs and wealth).
CGE2a -
listens actively and critically to understand and learn in light of the gospel
values;
CGE2b -
reads, understands and uses written materials effectively;
CGE2d -
writes and speaks fluently in one or both of
CGE4g -
examines and reflects on one’s personal values, abilities and aspirations
influencing life’s choices and opportunities;
CGE5b -
thinks critically about the meaning and purpose of work;
CGE5h -
applies skills for employability, self-employment and entrepreneurship relative
to Christian vocation.
Students
should have previous knowledge of the attitudes and attributes of an
enterprising person to be able to compare these characteristics with the
qualities of the entrepreneur.
In
advance of this unit, ask students to look for an entrepreneur who would be
willing to be interviewed. Students contact the entrepreneur to arrange a
meeting at the convenience of the entrepreneur. Students discuss the answers to
approximately 10 questions about the characteristics and skills of the
entrepreneur.
1. Define
the difference between personal characteristics (attitudes, attributes, and
personality) and skills (characteristics are innate and skills can be
developed).
2. Using
a blank overhead sheet, encourage the class to brainstorm to determine examples
of attitudes, attributes, and skills required by an entrepreneur. Compare the
class’s findings to a master list of attitudes, attributes and skills of the
entrepreneur (Appendix 5.1a – This list represents an “idealized version” of an
entrepreneur. Very few successful entrepreneurs can possess all of this. To
compensate for this, many entrepreneurs form partnerships, whereby one partner
supplies the character and skills that the other lacks.)
3. Ask students to complete a self-assessment
and rank their top three personal characteristics, and top three skills from
the list provided.
4. Students are to interview other students in
the class to find people with different and complementary skills/personal
characteristics. The challenge is for the students to find others with
different personal attitudes, attributes and skills that would add to their own
to form a good working partnership (no more than three or four people). Each
group will briefly explain to the class their team’s extensive list of
characteristics/skills, and outline why they feel they complement each other
and would form a good team.
5. Separate the class into groups and have each
group make a bulletin board to summarize either the attitudes, attributes or
skills of entrepreneurs. Provide the students with coloured paper, markers,
scissors, glue and old magazines to find and label examples of characteristics
and skills. An alternate activity could have small groups of students generate
names of people who exhibit the characteristics and skills of entrepreneurs.
Lists will probably include a few entrepreneurs but also sports and music
heroes (some may also be entrepreneurs). This can then lead to a discussion of
how many people have some or many of the characteristics of entrepreneurs, but
are not entrepreneurs in the common sense of the word. Conclude with a debate
of the different definitions of an entrepreneur and Push and Pull
entrepreneurship.
6. The teacher will use video tapes one and two
of the “Spirit of Adventure” to identify the attitudes, attributes, and skills
possessed by the entrepreneurs profiled. Students should record the name and
business of each entrepreneur and briefly jot down the personal characteristics
and skills exhibited by the entrepreneurs. If the “Spirit of Adventure” video
series is not available at your high school, a collection of entrepreneurial
profiles may be used to analyse the characteristics and skills. See Appendix
5.1b. for a worksheet.
7. Have the students interview an entrepreneur
who has displayed innovation and creative problem solving in their ventures.
Record responses in Appendix 5.1c.
8. As a class, discuss the results of the
interviews to discover the various ways entrepreneurs and entrepreneurial
ventures benefit the community (Question 6). Discuss how the benefits of
starting a venture reflect a person’s call to apply entrepreneurial skills to
promote the “Common Good” of the community (Gaudiem Et Spes). An expansion of
the previous definition of entrepreneurship can be explored here that examines
the notion that “social entrepreneurship” is just as valid as “for profit”
entrepreneurship.
9. Have students compare the characteristics of
an entrepreneur with an enterprising person.
10. Students will investigate their own propensity
for entrepreneurship by taking a number of self-assessment tests. Here are two
websites (teachers may add their own favourites) with entrepreneurial
self-assessment tests:
The Keirsey Temperament Sorter – http://www.keirsey.com/
Canada Prospects 1999 – http://www.careerccc.org/products/cp_99_e/index.html
Note to Teachers: Just because a student scores poorly
on a self-assessment test does not mean that the student should rule out
entrepreneurship. Sometimes the tests are not reliable measurements of a
student’s propensity for entrepreneurship. Additionally, there is continuous
ongoing debate regarding the relationship between characteristics and skills
and success in entrepreneurship.
Formative
assessment in the Knowledge/Understanding, Communication and Thinking/Inquiry
areas through the observation of group work, class discussion, and evaluation
of their entrepreneurial interview assignment and self and peer assessment.
Pair
strong computer students with those that are not as strong. Contact the school
resource staff to assist students with special needs to find an entrepreneur
and conduct a face-to-face or telephone interview.
Need old
magazines and newspapers, scissors, glue, markers and construction paper for
bulletin boards
Appendix
5.1a – Entrepreneurial Characteristics and Skills
Appendix
5.1b – Recognizing Entrepreneurial Characteristics and Skills
Appendix
5.1c – Interview with an Entrepreneur
Time: 3.75 hours
This
activity is designed to encourage students to recognize opportunities through
unsolved problems, unsatisfied needs and wants, and as a result of change.
Students understand the relationship between an opportunity and an idea.
Students study and identify change by researching major trends and areas of
flux like social trends and lifestyle changes, technology and information
changes, demographics, and economic and global trends. Students recognize
problems as opportunities to find solutions or ideas for new ventures. Students
are encouraged to solve problems and come up with ideas that will benefit
society.
Strand(s): Entrepreneurial Opportunities
Overall
Expectations
ENV.02 -
specify the process through which entrepreneurs identify opportunities to
create new ventures.
Specific
Expectations
EN2.01 -
explain why entrepreneurs view problems as opportunities;
EN2.02 -
identify unsatisfied needs and wants, as well as problems and challenges, that
present possibilities for new ventures;
EN2.03 -
examine current changes and trends in demographics and lifestyles that might
provide entrepreneurial opportunities (e.g., the aging of the population, the
growth of e-commerce);
Ontario
Catholic School Graduate Expectations
CGE1d -
develops attitudes and values founded on Catholic social teaching and acts to
promote social responsibility, human solidarity and the common good;
CGE2b -
reads, understands and uses written materials effectively;
CGE3c - thinks reflectively and creatively to
evaluate situations and solve problems;
CGE4d -
responds to, manages and constructively influences change in a constructive
manner;
CGE5a -
works effectively as an interdependent team member;
CGE5e -
respects the rights, responsibilities and contributions of self and others.
Students
should be able to use the Internet to do research.
·
Book
a VCR and TV for one day during this activity.
·
If
you have access to the video called “Future Work” by One-Step Marketing, HRDC,
locate it and preview.
·
Book
a computer room with Internet access for the research activity.
·
Ask
the librarian to reserve all books dealing with the aforementioned trends. A
suggested list includes the following books: “The Third Wave” by Alvin Toffler,
“Megatrends” by John Naisbett, “The Popcorn Effect” by Faith Popcorn, “The
Bagel Effect” by Paul Hoffert, “The End of Work” and “The Biotech Century” by
Jeremy Rifkin, “Excelerate. Growing in the New Economy” by Nuala Beck, “Sex in
the Snow” by Michael Adams, “The Next 20 Years of Your Life” by Richard Worzel,
“Job Shift: How to Prosper In A Workplace Without Jobs” and “Creating YOU, Inc”
by William Bridges, “Boom, Bust & Echo 2000" by David Foot &
Daniel Stoffman, “Chips and Pop” by Robert Barnard, Dave Cosgrave, Jennifer
Welsh, and “Tomorrow’s Customers” by The Marketing and Economics Group of Clarkson/Gordon/Woods
Gordon.
· The teacher should save old copies of newspapers and magazines for the students to use. Try to start a newspaper file of pertinent articles as well.
1. As a class, discuss the relationship between
problems and opportunities, solutions and ideas. Hand out Appendix 5.2a –
Problems (Opportunities) and Solutions (Ideas). Ask students to use personal
observation to note changes that have occurred in society, and the problems
(opportunities) and subsequent solutions (ideas) that have resulted because of
those changes. Give students enough time to complete the sheet and take up
their answers. Apply the knowledge by completing Appendix 5.2b – Recognizing
Opportunities.
2. Show video Future Work One-Step Marketing,
HRDC and ask students to note six major trends. If the video is not available
at your public library or local HRDC, find a suitable newspaper or magazine
article on anticipated changes and trends.
Place students into groups to research the major changes in each of the
following areas and report to the class the opportunities and ideas for new
ventures associated with the changes:
· Social Trends and Lifestyle
· Technological Change
· Information and Communication Change
· Demographic Changes
· Economic and Global Trends
Using a variety of media (chart paper, overhead sheets, bulletin board,
presentation software), each group will report to the class the major changes
associated with their topic. (See Appendix 5.2c).
Formative
assessment in the Knowledge/Understanding, Communication and Thinking/Inquiry
areas through the observation of group work, class discussions and notes
following class presentations.
Pair
strong students with those that are not as strong. Ensure that students with
special needs are in groups with students willing to assist them.
Video
“Future Work” by One-Step Marketing, HRDC, London, ON. See Planning Notes for
suggested book list to help students with research of changes.
Appendix
5.2a – Problems (Opportunities) and Solutions (Ideas)
Appendix
5.2b – Recognizing Opportunities
Appendix
5.2c – Current Changes and Trends
Time: 5 hours
This
activity introduces the concept of developing ideas from entrepreneurial
opportunities. Students will recognize that opportunities are all around them,
and good ideas can be developed from them. Using the video series, The Spirit
of Adventure, students will examine how Canadian entrepreneurs have generated
ideas from problems that they saw around them. Students will distinguish the
difference between ideas that are more fad-like, and ideas that have staying
power. Students will be encouraged to use their creativity to generate ideas.
Afterwards a model for evaluating ideas will be presented, and students will go
through the process of evaluating their own ideas.
Strand(s): Entrepreneurial Skills
Overall
Expectations
ENV.03 -
analyse the creative thinking, problem-solving, and decision making processes
that help entrepreneurs find opportunities to create new ventures.
Specific
Expectations
EN3.01 -
demonstrate how skills of observation can be used to identify needs and wants
as entrepreneurial opportunities;
EN3.02 -
demonstrate ways in which creative thinking techniques (e.g., brainstorming,
mind mapping) can be applied to generate new ideas.
Ontario
Catholic School Graduate Expectations
CGE3b -
creates, adapts, and evaluates new ideas in light of the common good;
CGE3c -
thinks reflectively and creatively to evaluate situations and solve problems;
CGE5a -
works effectively as an interdependent team member;
CGE5e -
respects the rights, responsibilities and contributions of self and others.
·
Students
must know what an opportunity is and how to recognize it.
·
Students
must know the relationship between opportunities and ideas.
Creativity is a huge topic that
could have weeks dedicated to it. Below is just one exercise dedicated to
creative thinking (divergent thinking) and one dedicated to evaluation of ideas
(PMI). Teachers and students should look around the school or in their home for
items that could be used in this divergent thinking activity. This activity has
students take an everyday item and find new uses for it. For all of the
sections of this activity, students should be encouraged to participate in a
freewheeling manner in discussions and group work.
1. Pick an appropriate news story from the local
newspaper and read it to the class. When done, ask the students if there are
any opportunities arising from this story. For example, a story about senior in
the community would create an opportunity for services to repond to their
unique needs.
2. Show video 3 of the Spirit of Adventure
series entitled Recognizing the Opportunities. Hand out Appendix 5.3a and have
them complete it during the video. Take up Appendix 5.3a with the students discussing
each venture with the students. Have the students explain why they thought each
venture was successful or unsuccessful.
3. Introduce the concept of brainstorming. Go
over the guidelines with the class. Divide the class into four or five groups.
Give each group some common household article (e.g. toilet paper roll, empty
pill bottle, a piece of foam insulation, etc.) and have them:
· generate a list of at least 10 different uses for that article;
· decide on the best new product use;
· create a 1-minute advertising commercial in the form of a skit promoting the new product. Ask the students how they came up with their ideas. Place their responses on the board in the form of a list. Most of the entrepreneurial textbooks have techniques for idea generation as well. A partial list of ways to generate ideas is: copy other ideas; combine ideas; substitute ideas; adapt; modify; try other uses; daydream, etc. Encourage students to be freewheeling when they are brainstorming new ideas. At this stage there are no wrong ideas.
4. Evaluating ideas. Introduce the concept of De
Bono’s PMI (Plus, Minus, Interesting). Have the students get into groups and
work on Appendix 5.3b. Take up Appendix 5.3b noting that what some groups find
as a plus, others will find the same thing as a minus. Students should note
that just because an idea has more pluses than minuses, it is not automatically
a good idea. The quality of the points must be taken into account. As a class,
discuss the ideas to determine if each is a good idea or a bad idea (if
possible).
Formative
assessment in the Knowledge/Understanding, Communication and Thinking/Inquiry
areas through the observation of group work, class discussions, commercial
skits and a check of their video observation and PMI worksheet.
Pair
strong students with those that are not as strong. Ensure that students with
special needs are in groups with students willing to assist them. Teachers
should be particularly conscious of the introverted and extraverted students
and try to pair them in exercises which require presentations.
Spirit of Adventure Video series (Recognizing
the Opportunities – Program 3)
DeBono, E. DeBono Thinking Course,
Revised ed. BBC Books, 1994.
Appendix 5.3a – Observation Sheet For Video
(Spirit of Adventure)
Appendix 5.3b – PMI Worksheet.
Time: 3.75 hours
This
activity invites students to examine a variety of entrepreneurs in order to
understand how they deal with problems as they arise. After students have
reviewed the activities of a number of entrepreneurs, they will study a variety
of problems that are common to numerous entrepreneurs, and develop possible
solutions to these problems. Based on their own problem-solving experience,
students will develop a problem-solving and decision-making model that can be
applied to many situations. This activity is almost entirely student driven
with students working in groups and independently.
Strand(s): Entrepreneurial Skills
Overall
Expectations
ENV.03 -
analyse the creative thinking, problem-solving, and decision making processes
that help entrepreneurs find opportunities to create new ventures.
Specific
Expectations
EN3.03 -
apply research and critical-thinking skills to evaluate ideas;
EN3.04 -
compare various entrepreneurs to identify examples of problem-solving and
decision-making;
EN3.05 -
demonstrate an understanding of problem-solving skills through entrepreneurial
case studies.
Ontario
Catholic School Graduate Expectations
CGE2b -
reads, understands and uses written materials effectively;
CGE4d -
responds to, manages and constructively influences change in a constructive
manner;
CGE5b -
thinks critically about the meaning and purpose of work;
CGE5h -
applies skills for employability, self-employment and entrepreneurship relative
to Christian vocation.
·
Students
must have an understanding of the definition of an entrepreneur.
·
Students
must have a basic understanding of word processing software.
·
Teachers
will need blank overhead sheets and markers for each of the groups in the
class.
·
Teachers
should save old copies of newspapers and magazines for the scrap book assignment.
·
Teachers
may want to book a computer lab so students can key in their assignments.
1. Entrepreneurial scrap book. Have the students
prepare a scrap book with at least five news articles on entrepreneurs.
Students may use local newspapers, magazines, and the Internet as a source of
information about entrepreneurs. Encourage students to look for entrepreneurs
who have made valuable contributions to their community. The students should
prepare a brief summary of each which includes:
· the name of the entrepreneur and venture;
· how the entrepreneur got started in the venture;
· any obstacles the entrepreneur had to overcome;
· what characteristics does the entrepreneur possess.
Each student will make a two-minute
presentation about one of the entrepreneurs in their scrapbook.
2. Discuss as a class some possible problems
entrepreneurs may have when starting up their ventures. Problems could range
from lack of money, lack of expertise, conflict with partners, problems with
suppliers, etc. Place these problems on the board.
Break the students into groups of three to five and assign each group a
problem and have each come up with a series of steps they would follow to solve
the problem. They may comment that they know nothing about the problem (e.g.
zoning regulations). Tell the students that you do not want them to solve the
problem, but rather, outline the steps required to solve the problem. Finding
information is part of the problem-solving process. Have each group prepare an
overhead outlining the steps they would follow and present it to the class.
When all of the groups have presented, sum up the common steps on the board.
Formative
assessment in the Knowledge/Understanding, Communication and Application/Making
Connections areas through the observation of group work, class discussions,
evaluation of their Entrepreneurial scrap book and presentation.
Ensure
that students with special needs are in groups with students willing to assist
them. Some students may find the entrepreneurial scrap book assignment a large
task. Allow one class for the students to go through newspapers and magazines
to find articles. It may also be useful to schedule time in the library or a
computer lab so students can have access to the Internet. During this class,
circulate around to ensure that all students have found appropriate articles
and understand what is expected in the analysis of the article.
Time: 11.5 hours
“Today
Only” is a culminating activity that brings closure to the final unit of study,
and in essence, to the overall course. “Today Only” provides students with the
opportunity to work in small groups of 3-4 to plan a mini-business venture, and
operate that venture for one school day. Students will plan all aspects of
their small business venture including; creating an effective business name,
determining product lines, setting pricing strategies, creating an appropriate
site, applying for a start-up loan, preparing a cashflow forecast, and learning
the importance of personal selling. At the end of the day of operations, the
business venture and partnership is dissolved. As part of the planning process
for the day of business, a small business plan will be prepared. At the end of
the activity, all venture groups will present a summary report.
Overall
Expectations
ENV.02 -
Specify the process through which entrepreneurs identify opportunities to
create new ventures;
ENV.03 -
analyse the creative-thinking, problem-solving, and decision-making processes
that help entrepreneurs find opportunities to create new ventures;
ENV.04 -
demonstrate entrepreneurial skills be creating a venture plan.
Specific
Expectations
EN4.01 -
describe the nature and objectives of their proposed venture;
EN4.02 -
identify the size and characteristics of the venture’s target market;
EN4.03 -
describe the ways in which resources can be organized in the most effective,
cost-efficient way;
EN4.04 -
demonstrate the financial objectives of the proposed venture through a
financial plan that includes a cash-flow projection, projected sales revenues
and expenses, start-up and operating costs, and the total capital required for
the venture;
EN4.05 -
demonstrate the financial objectives of the proposed venture throughout a
financial plan that includes a cash-flow projection, projected sales revenues
and expenses, start-up and operating costs, and the total capital required for
the venture
EN4.06 -
investigate the various sources of the capital required.
CGE3b -
creates, adapts, and evaluates new ideas in light of the common good;
CGE3c -
thinks reflectively and creatively to evaluate situations and solve problems;
CGE3d -
makes decisions in light of gospel values with an informed moral conscience;
CGE4b -
demonstrates flexibility and adaptability;
CGE4f -
applies effective communication, decision-making, problem-solving, time and
resource management skills;
CGE5a -
works effectively as an interdependent team member;
CGE5g -
achieves excellence, originality, and integrity in one’s own work and supports
these qualities in the work of others;
CGE7i -
respects the environment and uses resources wisely;
CGE7j -
contributes to the common good.
As a
culminating activity, “Today Only” is designed to bring together many of the
concepts taught in earlier segments of the Entrepreneurial Experience Unit, and
in fact, it provides students with the opportunity to apply concepts taught
throughout the entire course of study.
In order
to be successful in “Today Only”, students must:
·
know
what an “enterprising employee” is;
·
know
what kind of workplace behaviour is considered enterprising;
·
understand
why enterprising persons are willing to accept the risks associated with
enterprising behaviour in the workplace;
·
be
creative and innovative in their problem solving to make their business venture
more competitive;
·
understand
how their productiveness will benefit the business;
·
be
able to use a variety of media to communicate effectively;
·
be
able to work one-to-one with individuals in a customer/salesperson
relationship;
·
be
able to identify a business opportunity in their school or their community;
·
generate
ideas that are well-suited to a business opportunity;
·
evaluate
those ideas using a specific set of criteria, and select the best one;
·
be
able to prepare projected financial statements to use as tools for planning.
In
addition to “Today Only” being a large planning project for the students, it is
a large planning project for the teacher. The classroom teacher should do
whatever they can prior to “Today Only” to increase their students’ chances of
entrepreneurial success. Some pre-planning considerations and preparations that
could be made by the classroom teacher ahead of time are as follows.
·
Select
a suitable date where no other major functions are going on in the school. Book
your date with the school administration and have it included in the school
calendar.
·
Early
communication is required. The school administration, cafeteria staff,
custodians, school advisory council, and other teachers need to know exactly
when “Today Only” is going to occur.
·
Include
a very brief description of the project in the course outline that is given to
students on the first day of the course.
·
Prepare
a news story about the project and include it in your school’s parent
newsletter prior to the event happening.
·
During
the actual day of operating their businesses, students will require some set-up
time, some operational time, and some clean-up time. Teachers should make
arrangements with attendance for students to be absent from their other
classes. This day should be treated in the same manner as a field trip.
·
The
class should keep a list of all those personnel, both in school and out, who
contributed to the success of the event. Thank-you cards written by the
students after the project would be appropriate.
·
Teachers
may want to provide a small venture loan to students groups to assist with
start-up costs (i.e., $20-$30.00). Arrangements need to be made to ensure that
these funds are included in the appropriate budget.
·
Teachers
may want to capture the activities of the day of business on video. Book any
video equipment, cameras, etc. early. If your school has a media club or
Audio/Visual Club, it is possible that one of those students can record the
event for you.
·
Make
early arrangements with the staff member or school organization responsible for
daily announcements. Advise them that your students will be approaching them
about making promotional broadcasts.
·
The
overall goal of “Today Only” is to provide an opportunity for students to
experience entrepreneurial success. One measure of success would be the amount
of profit generated from their entrepreneurial endeavour. The option for the use
of these profits should be examined including the idea of giving the profits
(or a portion of the profits) to any one of the Catholic Charities that exist
in their community. Local Food Banks, Be An Angel Campaign, Peace and
Development, the Bishop’s Campaign, Share Lent, and many other organizations
are just a few of the charities that these profits could be directed toward.
·
Access
to a computer lab is required for the success of “Today Only”. Book a lab
early.
·
At
the end of the project, students will be given special achievement
certificates. Make sure special card stock for such a certificate is ordered
and printed using the software of your choice.
This unit
of study will be approached in three phases. The first phase (six periods) is
the planning and preparation for the mini business venture. The second phase
(one period) is the actual day of operations. The third phase (three periods)
involves sharing comments in a class discussion, dissolving the venture,
putting the finishing touches on the business plan/summary report, and awarding
achievement certificates.
Phase 1
Lesson 1
- Introduction of “Today Only” and Idea Brainstorming
Introduce
the concept of “Today Only”. Information provided by the teacher to the class
during this first lesson should include:
a) A general description of what “Today Only” is.
b) The date of the event.
c) A list of topics students will be required to include in their small business plan (i.e., What is the nature and objectives of their proposed venture? Who is their target market? What resources are needed to operate for the day? How will resources and labour be organized in order for the business to operate smoothly? How much capital is needed to get started? What financial forecasting tools need to be included? What promotional activities are required?);
d) How venture groups will be selected. Teachers will need to decide if they are going to set up the groups ahead of time, or let students form their own groups based on similar interests/ideas. An ideal number of ventures for the teacher to manage is six to seven. Any more becomes very difficult for the teacher to monitor and evaluate.
e) Explain to students that each group will have the opportunity to apply for a $20 - $30 start-up loan. During Lesson 5, groups will have the chance to meet with the teacher to formally ask for the loan.
In the
second half of the first lesson, invite students to brainstorm ideas for
business ventures that could be operated for one day in their school
communities. By the end of the class, students should know who the partners are
in their group, and have a general idea of what their business idea is. For
homework students should think about a good business name, and begin finding
any of the resources they will need to open their businesses.
Lesson 2
- What’s In a Business Name & Resource Analysis
Begin
lesson 2 by instructing each venture group to generate a list of the top ten
business names from their surrounding entrepreneurial community. After 10
minutes, ask each group to submit their top 3 names to a class list on the
board or overhead transparency. In the format of a class discussion examine the
list of names and determine why they have are so popular/effective. Develop a
set of guidelines that could be used when an entrepreneur is naming a venture
(e.g., The name should be memorable, mellow, have mass appeal, be easy to
pronounce, be short and sweet, reflect the product or service being offered.).
Venture groups can use these guidelines to create their own business name. In
the second half of the class, teachers should introduce the importance of
conducting an extensive resource analysis. Distinguish the difference between
capital goods, expense goods, and human resources. Explain that capital goods
are primarily used for business start-up and expansion, while expense goods and
human resources are primarily used for operations. It might be useful to have
students determine what resources are needed for a specific business example
that the teacher provides (i.e., what are all of the resources needed to start
up and operate a school store?). Venture groups can begin formally determining
what resources are needed to operate their business ventures. By the end of
this class, each group should submit an early planning worksheet to the
teacher. (see Appendix 5.5a) This planning worksheet includes what the business
name is, who the partners are, a short description of the business idea, and an
explanation as to why the students feel this venture would be successful.. The homework
assignment is to begin finding the necessary equipment and resources for their
ventures (see Appendix 5.5b).
Lesson 3 - Financial Analysis: Becoming familiar with the Vocabulary
a) The teacher should introduce students to a
variety of vocabulary related to business finance. Some of these terms include
(market share, profit margin, return on investment, equity, capital-gain,
dividend, liability, asset, account receivable, account payable, liquidity,
fixed costs, variable costs)
b) Students
should examine problems that involve:
· calculating accounting profit/economic profit;
· using mark-up pricing;
· calculating return on investment;
· calculating the break-even point (when fixed and variable costs are separated).
c) If there is time remaining toward the end of
class, venture groups should work on broadcast announcements, and any
promotional posters that need to be created. The cost of promotional materials
should be considered part of the resources needed for start-up. Promotional
posters and advertisements should be finished at home. The teacher could put
together promotional material kits (i.e., poster paper, markers, masking tape,
pencil crayons, etc.), and sell them to students at a minimal cost.
Lesson 4
- Financial Analysis: Working With
Financial Forecasting Tools
Introduce
students to the Income Statement. Use examples of a service business and a
retail business income statement. Point out the differences (namely The Cost of
Goods Sold Section present in a retail venture). If a group is involved in
small scale manufacturing, introduce the proper accounting procedures. Follow
all Generally Accepted Accounting Principles. Students should complete an
example of a Cashflow Forecast planning tool (See Appendix 5.5c). Teachers
should outline the importance of this tool when planning ventures. Illustrate
how a business venture could show a profit at the end of a fiscal year of
operations, but still have a negative cash flow. This could result in financial
problems with bankers and creditors. Student venture groups need to begin
preparing a cashflow forecast for their business ideas (Appendix 5.5d), and
ensure that any and all resources needed for “Today Only” are acquired.
Lessons
5 and 6 – Business Planning and Conferences with Teacher
Planning
should be well underway. Promotional materials should be visible in the school,
cashflow forecasts should be near complete, and all resources needed should be
recorded and cost prices listed in the business plan. Students groups need to
know who their suppliers are, and what price their products or services are
going to be listed at. During Period 5, the teacher should conference with each
group to make sure all details are being covered. This meeting should be
approached in the same manner that an entrepreneur and banker might meet to
discuss business planning details. If student groups require the business
start-up loan of $20.00 - $30.00, this is an appropriate time for the teacher
to extend that loan.
The
remainder of this time is for group planning. While groups are planning, the
teacher should map out where each venture will locate for the day. A central
forum type site in the school is an ideal place for set-up. If groups are near
one another, it creates a market type environment.
Toward
the end of lesson 6, teachers may want to review the following items with their
class:
·
The
importance of creating a site that is visibly pleasing;
·
That
all safety precautions for operators and patrons have been taken;
·
The
characteristics of a good salesperson;
·
The
importance of presenting themselves in a neat and clean manner;
·
The
importance of maintaining a clean work environment.
·
When
the day is done, leave their site in a cleaner state than they found it.
·
Do
they have a cash float prepared?
Phase 2
Lesson 7 – “Today Only” in Operation
Teachers
should try to be available during set-up. Enjoy “Today Only”. At the end of the
day, the teacher may want to lock up each venture group’s cash box. Students
count cash sales and complete all financial calculations in the next class.
Phase 3
Lesson 8
– Post “Today Only” Discussion and Count Up The Earnings
In a
discussion format, have students share their experience from the day before.
Students can share what they liked or disliked about the day, what things went
well, what things went wrong, or what they would change if they were to do it
all over again. Every student should be encouraged to speak at least once.
Students should record what went well and what did not. After the discussion,
groups can begin the task of counting the cash, and completing the 2nd column
(Actual) in their Cashflow Forecast. It should be left to each group to decide
whether or not their profits are going to be donated to a charitable cause, or
divided among themselves. Loan repayments can be made at this time. If a
venture group did not make a profit, and the loan cannot be repaid, the
school’s business department will have to absorb that cost as part of their
department’s budget. An additional option for dealing with any venture that
loses money, would be to have those groups who earned a profit absorb any
losses. This is consistent with the notion of promoting “The Common Good”. In
addition, the class should create a list of all school and community people who
assisted them in this endeavour. Thank-you cards need to be written out and
delivered immediately.
Lesson 9
– Putting Final touches on Business Plan
Student
groups are to finish their venture plans. All plans must be computer generated
and include:
a) a title page; b) a table of contents; c) a business venture description;
d) a description of the target market; e) a comprehensive list of all resources needed
and their costs;
f) a description of how operations were
organized.
g) a financial analysis section that includes the
completion of a forecasted cashflow, and an actual income statement; h) a conclusion
Lesson
10 – In Class Presentations
Each
group is to make a venture plan presentation to the class. Students should make
use of various media for this activity. Although an electronic presentation is
not necessary, if a school has the resources and software, it might be
beneficial to students to create such a presentation. It may be worthwhile to
invite special guests for this portion of the project (i.e., school
administration, parents, business studies teachers, community entrepreneurs,
etc.). At the end of the presentations, certificates of successful completion
can be awarded to all students. As an extension of this, the class may wish to
plan a culminating mass celebration. The theme for this mass could be the
celebration of enterprising individuals who have used God’s gifts to help make
their communities better places. Students must be reflects on our Catholic
Social Teaching that reminds us that because our community benefits us, we must
benefit our communities.
This
activity is a comprehensive learning experience that touches on all four
assessment categories from the Achievement Chart. Early in the instructional
process, the focus is on Knowledge/Understanding. As students begin exploring
and planning their ventures, the shift is toward Thinking/Inquiry. When
students are engaged in the process of operating their ventures, the focus is
on Application/Making Connections, and when they present their business plans
to the class, their communication skills can be evaluated. The venture plan
written assignment and oral presentation which will include descriptions of the
student’s individual role and accountability and detail their experiences
during the project should be part of the final evaluation of the course, while
the actual operation of the business ventures is ideally suited as an
assignment under the assessment category of Application/Making Connections. Key
concepts taught can be included in the comprehensive final examination. Each of
the individual evaluation criteria is awarded a grade out of four.
Proprietors’
Names: __________________________________________________________________
|
a) Level of preparation |
1 |
2 |
3 |
4 |
/4 |
|
b) Quality of promotional materials |
1 |
2 |
3 |
4 |
/4 |
|
c) Quality of site set-up |
1 |
2 |
3 |
4 |
/4 |
|
d) Personal selling abilities |
1 |
2 |
3 |
4 |
/4 |
|
e) Overall organization of operation |
1 |
2 |
3 |
4 |
/4 |
|
Total |
/20 |
||||
Proprietors’
Names: __________________________________________________________________
|
a) Originality of business idea |
1 |
2 |
3 |
4 |
/4 |
|
b) Effectiveness/Creativity of Business
Name |
1 |
2 |
3 |
4 |
/4 |
|
c) Comprehensive list of Resources |
1 |
2 |
3 |
4 |
/4 |
|
d) Description of Day of Operations |
1 |
2 |
3 |
4 |
/4 |
|
e) Accuracy of Cashflow Forecast |
1 |
2 |
3 |
4 |
/4 |
|
Total |
/20 |
||||
Exceptional
students should be placed in groups with positive peer mentors. Realistic
expectations should be expressed to the student early in the project. Students
should be assigned manageable tasks, and their work monitored daily to ensure
completion
Classroom
texts - The Entrepreneurial Spirit. Toronto & Entrepreneurship Creating A
Venture
Break
Into Business Camp –The Centre For Entrepreneurship Education and Development
http://www.ceed.ednet.ns.ca
Appendix
5.5a – Initial Planning Worksheet
Appendix
5.5c – Cashflow Forecast Problem
Appendix
5.5b – Resource Analysis
Appendix
5.5d – Today Only Cashflow Forecast
*no
entrepreneur is alike, but many share the same qualities
What is
the difference between entrepreneurial characteristics (attitudes and
attributes)
and skills?
|
Personal Characteristics –
Attitudes and Attributes |
Skills |
|
|
hardworking/achievement oriented |
Self-confident |
creative thinking |
|
optimistic |
Perceptive |
practical problem solving |
|
self-reliant |
Motivated |
strong interpersonal skills |
|
open to new ideas |
Resourceful |
strategic planning |
|
sees problems as challenges |
Creative |
effective decision making skills |
|
committed to goals |
Independent |
good listening skills |
|
embraces change |
Calculated risk taker |
team building skills |
|
committed to life-long learning |
Resourceful |
selling and marketing skills |
|
enjoy freedom to decide how to do work |
enjoys variety of tasks |
specific business skills |
|
challenges are adventures |
Empathetic |
strong research skills |
|
feels it is important to follow through on
promises |
can manage stress effectively |
good record-keeping skills |
|
see the positive side of people |
Energetic |
computer literacy skills |
|
rewards are intrinsic |
Visionary |
can teach and give instruction |
|
stress is okay |
Flexible |
strong organizational & negotiating
skills |
Entrepreneurs
have some common characteristics (attitudes and attributes) and skills that they
may naturally exhibit or may have had to develop in order to be able to
continue with their venture. From the entrepreneurs profiled (videos or
articles), a) list the name and business of each entrepreneur, b) list the
personal characteristics exhibited by the entrepreneur, and; c) list the skills
required by the entrepreneur to successfully operate his/her venture.
|
Entrepreneur’s Name and Venture
Name |
Personal Characteristics of
Entrepreneur |
Skills Previously Acquired or
Developed |
|
|
|
|
|
|
|
|
Date:
______________________ Student’s
Name: _________________________
Entrepreneur’s
Name: ________________________ Business
Name: _________________________
Business’
Address: ________________________ Business
e-mail or telephone _______________
What
good(s) or service(s) does your business provide?
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
When
(in your life) did you start the business? What are some of the reasons for
starting a business?
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
What
personal attitudes and attributes (characteristics) do you think are essential
for an entrepreneur? Do you have these personal characteristics? Have you
always had them?
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Indicate
which skills you had before you started your business (mark with a “B” for
Before) and mark the skills you had to develop since starting the business
(mark with “D” for Developed).
|
_____
marketing/selling skills |
_____
computer skills |
_____
creative thinking |
|
_____
problem solving |
_____
record keeping |
_____
organizational skills |
|
_____
research skills |
_____
decision-making |
_____
interpersonal skills |
|
_____
teaching/instructional |
_____
team-building skills |
_____
listening skills |
|
_____
strategic planning |
_____
repair skills |
_____
specific skills (venture) |
What
is the most difficult part of being an entrepreneur? The most rewarding?
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
How
does the community benefit from your business’ existence?
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
An
opportunity is created by the changes that are taking place in today’s society.
Changes in attitudes, social trends and lifestyles, technology, globalization,
personal income, etc. all result in new opportunities for entrepreneurs
Identify
from personal observation, examples of attitude changes:
·
Increased
concern for the environment
·
What
are the problems (opportunities) associated with this change?
·
What
are some solutions (ideas)?
Identify examples of demographic changes:
·
Growing
senior population
·
What
are the problems (opportunities) associated with this change?
·
What
are some solutions (ideas)?
An
idea is not the same thing as an opportunity. A problem is created by changes
in society and an idea is the solution to the problem.
The Problem is the Opportunity, The Solution is
the Idea
Complete
the chart below, filling possible problems (opportunities) arising from the
area of change and some possible solutions (ideas) to the problems. Come up
with two more areas of change in society and fill in the opportunities and
ideas for those.
|
Area of Change |
Possible Problems |
Possible Solutions |
|
More
homes have the Internet |
|
|
|
More
schools opting for school uniforms |
|
|
|
Technology
for organ transplant has improved |
|
|
|
E-commerce
is more readily used in business to business dealings, and in business to
consumer dealings. |
|
|
|
|
|
|
|
Topic of Research |
Description of Major Change Trend
and Problems related to this change |
Possible Solutions (Ideas) for New
Ventures |
|
Social
and Lifestyle Trends |
|
|
|
Technological
Changes |
|
|
|
Impact
of Major demographic Groups |
|
|
|
Changes
in the Information Age |
|
|
|
Economic
and Global Trends |
|
|
1. For each of the following, list the
opportunity, the idea and any characteristics and skills shown by the entrepreneur.
|
Name |
Opportunity and Idea |
Characteristics and Skills |
|
Tom
Droog |
Opportunity_______________________ Idea_____________________________ |
|
|
Dan
Sitnam |
Opportunity_______________________ Idea_____________________________ |
|
|
M.
Johnston |
Opportunity_______________________ Idea_____________________________ |
|
|
J. Van
Auken |
Opportunity_______________________ Idea_____________________________ |
|
|
Russ
Parker |
Opportunity_______________________ Idea_____________________________ |
|
|
C.
Livingstone |
Opportunity_______________________ Idea_____________________________ |
|
2. What is a window of opportunity?
For
each of the following ideas, give at least 4 PLUS points (things you think are
good about the idea), 4 MINUS points (things you think are bad about the idea)
and 4 INTERESTING points (things that are neither plus or minus but are
interesting to you).
|
Idea |
Plus |
Minus |
Interesting |
|
Our
school should have uniforms. |
e.g.,
We could identify outside students. |
e.g.,
No way to express individuality. |
e.g.,
It would be interesting to see if other schools followed. |
|
Taco
Bell should operate our cafeteria. |
|
|
|
|
All
high school students should have a 10:00 p.m. curfew by law. |
|
|
|
|
Since
Coke and Pepsi taste the same, there should only be one cola available for
sale. |
|
|
|
|
Name
of Business Venture:
___________________________________________________________ |
|
|
Name
of Partners: _________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ |
Brief
Description of Venture: ________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ ________________________________________ |
|
Why
does your group feel that this idea would be successful in our school? __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ |
|
Resource Analysis
|
Equip. Needs |
$ |
Raw Materials |
$ |
Promotion Materials |
$ |
Other |
$ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
$_______ |
Total |
$_______ |
Total |
$_______ |
Total |
$_______ |
|
Total Start-up Costs: $____________________ |
|||||||
|
Scrub
and Shine Cleaning Inc. – Cashflow Forecast - For the first 5 months of
operation in 2001 |
||||||
|
|
Jan. |
Feb. |
March |
April |
May |
Total |
|
CASH
IN |
||||||
|
Estimated
Sales |
$1300 |
$3650 |
$4950 |
$3800 |
$1350 |
$_______ |
|
CASH
OUT |
||||||
|
Equipment |
$2040 |
|
|
|
|
$2040 |
|
Rental |
$80 |
$80 |
$80 |
$80 |
$80 |
$_________ |
|
Labour |
$250 |
$1650 |
$2400 |
$2400 |
$600 |
$_________ |
|
Drawings |
$45 |
$225 |
$250 |
$150 |
$150 |
$_________ |
|
Raw
Materials |
$150 |
$440 |
$590 |
$330 |
$100 |
$_________ |
|
Business
Licenses |
$20 |
|
|
|
|
$_________ |
|
Advertising |
$200 |
$100 |
$100 |
$150 |
$125 |
$_________ |
|
Supplies |
$250 |
$50 |
$50 |
$50 |
$50 |
$_________ |
|
Gas
& Auto |
$125 |
$125 |
$245 |
$245 |
$100 |
$_________ |
|
Total |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
|
NET
CASH: |
||||||
|
Monthly
Surplus |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
|
Monthly
Deficit |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
|
Cumulative |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
$_________ |
What
are total start-up costs? ________
What
are the venture’s operating costs for the 5 months? _________
Student
Business Name: _________________________
Cashflow
Forecast
Date:
___________________________
|
|
Estimated |
Actual |
|
CASH
IN |
|
|
|
Loan
Extended |
$ ______________ |
$ _______________ |
|
Capital
From Partners |
$ ______________ |
$ _______________ |
|
Revenue
From Sales |
$ ______________ |
$ _______________ |
|
Total
Cash Receipts |
$ ______________ |
$ _______________ |
|
|
||
|
CASH
OUT |
|
|
|
Loan
Repayment |
$ ______________ |
$ _______________ |
|
Group
Repayment |
$ ______________ |
$ _______________ |
|
Promotional
Materials |
$ ______________ |
$ _______________ |
|
Merchandise |
$ ______________ |
$ _______________ |
|
Equipment |
$ ______________ |
$ _______________ |
|
Other
Supplies |
$ ______________ |
$ _______________ |
|
Total
Cash Disbursements |
$ ______________ |
$ _______________ |
|
|
||
|
Net
Cash Generated |
$ ______________ |
$ ________________ |
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