Business Plan (Understanding Inequalities)

Introduction

This WebQuest challenges students to create and market a product.  Students will use mathematical reasoning, algebraic thinking, inequalities, and problem solving skills.

Students - You will be creating and marketing a product.  You will have to decide what product will be sold, as well as decide how much the product will cost to sell.  Part of the your task will be to figure out how many products will need to be sold to break even, and how many products will need to be sold to make certain profits.  This project will showcase your math skills (algebra and inequalities), as well as your skills in using technology.

Task

Before you begin, review what we have learned about inequalities by watching the videos.

https://www.khanacademy.org/math/algebra/one-variable-linear-inequalities/alg1-one-step-inequalities/v/one-step-inequalities-2

https://www.khanacademy.org/math/algebra/one-variable-linear-inequalities/alg1-inequalities/v/plotting-inequalities-on-a-number-line

Practice with inequalities by clicking some of the links below.

http://www.softschools.com/math/algebra_1/graphing_inequalities/graphing_inequalities_on_number_line/

http://www.math-play.com/Inequality-Game.html

http://mrnussbaum.com/geniusboxing/

When you feel ready to begin your project, follow the steps below!

First, choose your business team.  You may alone, in partners, or in a group of three.

Next, follow all of the steps on the "Process" page to walk you through your project.

Final business plans, advertisements, and all worksheets must be completed by your presentation date (your teacher will give you your date).  

Be creative and have fun!

Process

  1. Decide what product you will be creating.  Research other products similar to yours to help you decide how yours will be different and unique.  Also use your research to see what other similar products sell for and then decide how much you will sell your product for.  Remember not to price your product too high.  You should stay somewhat close to the selling price of your competitors.  Write up your Product Proposal in a GoogleDoc and "share" it with your teacher.  Make sure your teacher can "edit" the proposal.  After your teacher reviews your Product Proposal, she may make some suggestions on your product or your selling price.  Your teacher will then give you your development costs (how much it will cost to develop your product).
  2. Decide how you will market and advertise your product.  Your teacher will give you the costs of each type of advertisement.  You will have to decide how much you are willing to spend on marketing your product, but you must choose to purchase at least one type of advertisement.  Print ads will be created using some type of technology (GoogleDrawing for example) and commercial advertisements will be filmed on an iPad, uploaded to a computer, and edited using MovieMaker).
  3. Complete the Business Plan Worksheet via the GoogleDoc.  "Share" it with your teacher.
  4. Create your Final Business Plan Presentation.  This should be some sort of slide show (Prezi or GoogleSlides).  It should include your product and how much it costs, your development costs, all advertisements that you have created, and highlights from your Business Plan Worksheet.  Your classmates will be viewing your Business Plan Presentation and deciding if they would like to buy your product, so make sure your presentation is appealing and convincing!  Your teacher will be grading your presentation, as well.

Evaluation

Business Plan Rubric
  4 3 2 1
Product Proposal The proposal was submitted on time and all required elements were complete.  There were no major flaws in the Product Proposal.  The proposal was submitted on time.  All required elements were complete, but there were some flaws that needed revising. The proposal was submitted late.  The proposal may have had missing elements or major flaws that needed revising.  Major components are missing.  A score cannot be given at this time.
Advertisements The advertisements created make sense for the product and were submitted on time.  The company was able to afford all chosen advertisements and chose ads that best fit their targeted clients.  All ads were created with technology and included all necessary information for potential buyers. The advertisements created make sense for the product and were submitted on time.  The budget for the ads may be questionable and/or did not fit their targeted clients.  Ads may have flaws in their creation or information. The advertisements were not submitted on time.  The budget and/or creation of the ads may have major flaws. Major components are missing.  A score cannot be given at this time.
Business Plan Worksheet The worksheet was submitted on time and was 90-100% mathematically correct. The worksheet was submitted on time and was 75-89% mathematically correct.  Revisions were made within the allotted timeframe. The worksheet was not submitted on time and/or was less than 74% mathematically correct.  Revisions were made within the allotted timeframe. Major components are missing.  A score cannot be given at this time.
Final Presentation The presentation was on time and met all required components.  Technology was used appropriately and the presentation was engaging to the class. The presentation was on time, but had minor flaws. The presentation was late and/or had major flaws. Major components are missing.  A score cannot be given at this time.

 

Conclusion

After you have presented your Final Business Plan Presentation, your teacher will let you know how many products you "sold."  This number will be based on your Final Business Plan Presentation and how many of your classmates said they would buy your product.

Your teacher will also be giving you your final grade for this product.

Reflect: Knowing what you now know, what changes would you make to your project?