ECONOMICS Encourage Enterprise and Entrepreneurial Skills Unit 9 Project

OBJECTIVES In 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 EXTRAS WHAT YOU NEED TO CONSIDER Must Haves3 Electives1 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 :   

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