BizMovie Lesson 2

Lesson 1 Review What is a business? What is a business? What do you already know about the movie business? What do you already know about the movie business? What do you want to know about the movie business? What do you want to know about the movie business?

Memo 2 Congratulations! You and a group of your classmates are going to start and run your own movie production company. The following list includes steps every movie production company must complete in order to be successful. Rank each from 1-6 in the order you think they will happen.

Memo 2 Sell tickets Sell tickets Produce your movie Produce your movie Market and advertise your movie Market and advertise your movie Create a story idea Create a story idea Determine whether your company is profitable Determine whether your company is profitable Raise money to finance your company Raise money to finance your company Think of two additional steps you think are important for a movie company to succeed.

What is a business? Did you ever have a lemonade stand? Did you ever have a lemonade stand? How much money did you make? How much money did you make? Did you pay for the lemons? Did you pay for the lemons? Is a lemonade stand a business? Is a lemonade stand a business? A business is a sole proprietor, partnership, or corporation that creates and sells a product or service.

Terms to Know Product- something produced by humans, machines, or a natural process Product- something produced by humans, machines, or a natural process Tangible- something that can be touched Tangible- something that can be touched Service- work done for others as an occupation or a business Service- work done for others as an occupation or a business Revenue- money a company receives from selling a product or service Revenue- money a company receives from selling a product or service Expense- a cost associated with operating a business Expense- a cost associated with operating a business

Terms to Know Profit- money gained after expenses have been paid or excess of the selling price of goods over their cost Profit- money gained after expenses have been paid or excess of the selling price of goods over their cost Salary- money paid to someone foe the work they do Salary- money paid to someone foe the work they do Loss- expenses exceed revenue Loss- expenses exceed revenue

Characteristics of a Successful Business Make quality products/services Make quality products/services Provide a healthy work environment Provide a healthy work environment Treat their employees well Treat their employees well Benefit their community Benefit their community Demonstrate good business ethics Demonstrate good business ethics Ethics are rules or standards governing the conduct of a person or the members of a profession. Ethics are rules or standards governing the conduct of a person or the members of a profession.

Revenue vs. Expenses Choose a business Choose a business List sources of revenue List sources of revenue List expenses List expenses To maximize your profits, you must keep revenue high and expenses low.

Business of Movie Production Are movies a business? Are movies a business? How much do you pay to see a movie? How much do you pay to see a movie? How often do you go to the movies? How often do you go to the movies? How much do you spend per year at the movies? How much do you spend per year at the movies? Profits from movie tickets pay for the theater, director, producers, actors, special effects people, etc. Profits from movie tickets pay for the theater, director, producers, actors, special effects people, etc.

Role of Technology in Business What types of technology do business owners use? What types of technology do business owners use? How can technology help a business? How can technology help a business?