Introduction
Help! PCS is opening a school store. In order to save money opening the store we are looking for some new and creative products to boost sales. Your team has been hired to become their newest entrepreneur! Do you have what it takes? Can you make this business successful? Get creative, you're about to embark on a new business adventure!!
Task
You will be working with a team to create your own successful business. You and your group will work cooperatively to analyze business data, this will help you make great economic decisions. These decisions will be recorded in your business plan. After creating the plan you will choose, design, and create a product to sell in the school store. You will also market and advertise your work so that others will know about this wonderful product! Good luck on your new business adventure!
Process
The Process
Use the tabs below to jump directly to the step you need!
| Step 1 | Step 2 | Step 3 | Step 4 | Step 5 | Financial Leader | Marketing Supervisor | Creation Manager | Step 6 |
Are you ready to begin the process of becoming an entrepreneur? To begin you need to meet with your fellow businesspeople. Your team will be working together to create a successful business. It is important that you get along, appreciate each other's ideas, and support each other during this business adventure. Begin by getting to know your team!
Are you ready to be an entrepreneur?
To begin your business adventure you will attempt to earn money by working with your team to successfully manage a lemonade stand. Before you make a decision you must discuss the choices and possible consequences of making this choice. Once your group comes to an agreement, you may select your choice. After you close your lemonade stand each team member must write a reflection stating what they learned about making choices while running a business.
Let the work begin! Every businessperson has a plan for their future. The team must keep a detailed business plan in the form of a daily journal to track your progress. This work will help your business succeed! Complete the business plan by filling in the information you have worked on. Each team member must give suggestions and record them on the business plan. Plans will be completed daily to record your ideas, suggestions, and progress.
STEP 3: You're ready to become an entrepreneur! Your goal is to choose the product that will make you a millionaire!!
Begin by brainstorming, discussing, and choosing the product your team will create and sell. This is a time to think of the concept of supply and demand. Also, be creative and choose your business name.
As we know, in order to be successful we must work together to accomplish our goal. Choose which business job below best fits your strengths. After all, these jobs are extremely important and you need to complete the tasks that you'll perform the best work at. Prepare a short oral speech to convince your teammates that you're the best person for the job.
| Financial Leader | Marketing Supervisor | Creation Manager |
| Your strengths would be: dealing with money (this includes spending the money and saving money!) |
Your strengths would be: creating advertisements and slogans for your business. |
Your strengths would be: being artistic or creative and making the product as quickly and neatly as possible.
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Responsibilities: *keeping records of all income and payments *studying new ideas and teaching the other team members *devoting time at your business table to sell your product *assisting the Marketing Supervisor and Creation Manager to complete their tasks when necessary |
Responsibilities: *creating slogans and advertisements to make buyers aware of your product *devoting time at your business table to sell your product *assisting the Financial Leader and Creation Manager to complete their tasks when necessary
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Responsibilities: *creating products to sell in the store. *communicating with the Marketing Supervisor to ensure the item being advertised meets the same guidelines as the item you are creating *devoting time at your business table to sell your product *assisting the Financial Leader and Marketing Supervisor to complete their tasks when necessary |
Congratulations on your new position with your business. Please remember you are an essential part of the project. You must perform your job to the best of your abilities or your business may struggle.
As you begin performing your task, keep in mind that you are working for the entire team. Although you may be consulting other experts in your field, you must discuss your decisions with your group to ensure you all agree. Click on the link below to begin completing your job.
| Financial Leader | Marketing Supervisor | Creation Manager |
Gather all your data. Follow the steps provided by the Business President to complete a sales sheet using Microsoft Excel. Calculate your businesses total cost. Don't forget to pay back the Business President for the loan! Calculate your businesses total sales. Subtract your cost from the sales, this is your profit. Based upon sales profit, how successful was your business? Write a paragraph explaining why you believe your business had a profit. If your business did not make a profit, write a paragraph explaining what were the factors that hurt your business and how would you change this in future business adventures.
Evaluation
Evaluation
The following scale will be used to evaluate the entire team.
| Beginning 1 | Developing 2 | Accomplished 3 | Exemplary 4 | Score | |
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Business Plan (x 3) |
Your business plan is not complete. The justifications are not included or are not well planned out. | Your business plan is partially complete. Many decisions are justified, these justifications may or may not be well planned out. | Your business plan is complete. Many decisions are justified, these justifications may or may not be well planned out. | Your business plans are complete each day . Each decision you recorded is successfully justified. These justifications are well planned out and the reader can understand the reason you made this decision. | |
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Product |
I doubt I'll be purchasing this item. | I might get this product if I don't find something I like better. | It looks like a good item. I'll pick one up when I get to the store. | Wow! That's an item I need now! | |
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Marketing/ Advertisement-Paper (x 2) |
This advertisement doesn't make me want to buy this product. | There isn't nearly enough information to make a decision about whether or not to buy this. | I might buy this item but I need more information about it first. | I'm convinced, I must buy this item. I know all the information needed to make my decision regarding whether or not this is a product I need. | |
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Marketing/ Advertisement-Multimedia (x 2) |
This advertisement doesn't make me want to buy this product. | There isn't nearly enough information to make a decision about whether or not to buy this. | I might buy this item but I need more information about it first. | I'm convinced, I must buy this item. I know all the information needed to make my decision regarding whether or not this is a product I need. | |
| Marketing/ Advertisement-Multimedia--Presentation | Doesn't look too good. | Slow down! You're on your way but if you'd put a little more effort into the presentation, it would be even better. | Looks pretty good. | Wow! You put a lot of thought and effort into creating a great presentation. The tool choice, color choice, and font are pleasing to the eye. | |
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Teamwork (x 2) |
Ouch! This team pulled each other down, this was not a "team" effort. | A few decisions were made as a group. Most of the time one member made the decisions for the entire team. | Your team discussed most decisions before including them in your business plan. | Your team works awesome together. All decisions were discussed and a GROUP decision was made. | |
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Reflection (x 2) |
This does not reflect you have gained any understanding of business or economic concepts. | The reflection has minimal information regarding business and economic concepts. | You show that you understand many components of a business and economic concepts but not all. | Your reflection proves you truly understand the necessary components to create and run a successful business as well as understand many economic concepts. |
Conclusion
Were the contributions you made enough to open our store? What does it take to make a business successful? The School Store appreciates your help in creating more business for them. You've learned about the challenges, decision making, and steps used to create your own business; not to mention the new economic terms. Who knows...maybe you can use your new knowledge and experience to create your own business one day! You'll be a real entrepreneur, will you succeed?