Print VersionTeaching Suggestions
Building a Business Project
Over the course of Planning for Business Success , students develop a Building a Business project in which they gather information and write a business plan for a business they are interested in starting. The information from the Building a Business project assignments in the first five activities is then applied in Activity 6, when students develop presentations for an audience of invited guests who play the part of potential investors in the students’ businesses. Periodically, students will work on this ongoing assignment in class and for homework. Check students’ work as they complete each section of the business plan, and have them revise their work as necessary before they continue.
Classroom Visitors
We recommend that you invite several visitors representing local businesses, professional or trade organizations, colleges or universities, and the greater community to act as investors for the classroom presentations at the end of this module. It is important to contact potential guests before beginning the module. You might also invite some or all of them to visit earlier in the module to discuss how they started their own businesses or to assist students in writing their business plans. Prior to the presentations, guests should receive copies of the teams’ business plans.
Coordinated Learning Experiences
Coordinated Learning Experiences (CLEs) are community-based, real-world experiences, such as classroom speakers and visits from experts in the field, mentoring and job-shadowing experiences, and worksite and campus tours. Suggested CLEs to enrich your students’ learning experiences are available on the Planning for Business Success Module Resources page.
Rags to Riches Simulation
WEB TIP: Select “rags to riches” from the drop-down menu at www.headbone.com. If you cannot log in using the pop-up window, click the “Need help logging in?” link on the Rags to Riches home page. If you encounter a glitch, try reloading the page.
In Activity 1, students use a Web-based simulation program called Rags to Riches, which allows students to experience operating a business and to learn about the factors involved in being successful in business. Students take on the role of a band just starting out on a 10-week tour. They make decisions about which city and venue to play in, given information about six different cities and the cost and capacity of various venues. Based on these decisions and additional factors in the simulation, students decide how much money to charge for tickets and how much to spend on marketing. The ultimate results (whether the concert sells out or is a bust, whether the popularity of the band increases or declines) then help students choose whether to play another concert, write new songs, or move to another city.
Video
One video, The Merchants of Cool, which is part of the PBS television series Frontline, is recommended as an extension during Activity 2. This video should be available from your local library, can be purchased online, and viewed online.
Statistics Review
The Student Guide for Planning for Business Success includes a Statistics Review Appendix to help students review the basic statistics needed in this module. Direct students to complete this optional reading and practice assignment, if they need a refresher in basic descriptive statistics.
Excel Spreadsheets
This module includes a number of Excel spreadsheets for use by you and your students. The spreadsheets intended for your use are available on the Planning for Business Success Module Resources page. One feature of Excel that you will use in this module is Comments. For My Ice Shavings! Errors Answers Spreadsheet, Sample Spinning Records Spreadsheet, and Fixed and Variable Costs Spreadsheet, the correct answers or hints about how students should set up their spreadsheets are included as comments. If you are not very familiar with Excel, you can tell if a cell has a comment attached to it because the cell is marked with a small red triangle in the upper right-hand corner. Move your cursor over that cell in order to read the comment. You can consult the Help section of Excel to set up your spreadsheet to show all of the comments and to print the spreadsheet with the comments shown.
Activity 1: Business 101 (3 Sessions)
SESSION 1
- Computers with access to the Internet (at least one computer for every two to three students)
- Copies of RM 1.1 Rags to Riches Decisions (one copy for each team)
- Chart paper and markers
SESSION 2
- Chart paper from Session 1 and markers
SESSION 3
- Copies of RM 1.2 Building a Business Assessment (one copy for each student)
- Copies of RM 1.3 Opportunity Knocks (one copy for each student)
- Copies of RM 1.4 Feasibility Check (one copy for each student for each business idea/opportunity)
Activity 2: Getting to Know Your Market (6 Sessions)
SESSION 5
- Copies of RM 2.1 Market Segmentation (one copy for each student)
SESSION 6
- Prepared pieces of chart paper, tape, and markers
- Copies of RM 2.2 Designing a Survey Assessment (one copy for each student)
SESSION 7
- Copies of RM 2.3 NoNaymz Survey (one copy for each student)
SESSION 8
- Computers with access to the Internet and a printer (at least one computer for each team)
SESSION 9
- Copies of Quiz 1 (one copy for each student)
Activity 3: The Price Is Right (5 Sessions)
SESSIONS 10–14
- Computers with access to the Internet and a printer (one computer for each team)
SESSION 11
- Chart paper and markers
SESSION 13
- Envelopes (12 for each team)
- Copies of RM 3.1 Outside the Concert Hall Role Play 1: Supply > Demand
- Copies of RM 3.2 Outside the Concert Hall Role Play 2: Supply < Demand
- Mock money
- Mock concert tickets
SESSION 14
- Copies of RM 3.3 Supply and Demand Story Assessment (one copy for each student)
- Chart paper and markers
Activity 4: Building a Business (5 Sessions)
SESSIONS 15 AND 16
- Computers with access to the Internet and a printer (one computer for each team)
SESSION 16
- Copies of RM 4.1 Survey Report Assessment (one copy for each student)
SESSION 17
- Copies of RM 4.2 Let’s Get Started (one copy for each student)
SESSION 18
- Copies of RM 4.3 Giving and Receiving Feedback Assessment (one copy for each student)
SESSION 19
- Calculators or computers (one for each student)
- Copies of © 2007 Quiz 2 (one copy for each student)
Activity 5: Reaching Your Market (5 Sessions)
SESSION 20
- Promotional pieces for each station and appropriate technology for these pieces, as needed (such as a computer with access to the Internet, tape recorder, or monitor and VCR)
- Copies of RM 5.1 Promotional Piece Assessment (one copy for each student)
SESSION 21
- Sign that says “ETHICAL” and sign that says “UNETHICAL,” to be placed at opposite sides of the room
- Copies of RM 5.2 Code of Ethics: American Marketing Association (one copy for each student)
SESSION 22
- Copies of RM 5.3, RM 5.4, RM 5.5, RM 5.6, and RM 5.7 Debate Roles 1–5 (enough copies of the appropriate Debate Role for each team member)
- Chart paper and markers
- Optional: Computers with access to the Internet and a printer (at least one computer for each team)
SESSION 24
- Appropriate technology, if student presentations require it
Activity 6: Building Your Business (6 Sessions)
SESSION 26
- Students’ copies of RM 1.2 Building a Business Assessment
- Chart paper and markers or computers with access to a printer (enough chart paper or at least one computer for each team)
SESSION 27
- Poster and brochure materials, including paper, markers, tape or glue, scissors, and other art supplies
- Magazines or other sources of pictures
- Computers with access to the Internet and a printer (one computer for each team)
SESSIONS 28 AND 29
- Computer and LCD projector for the student presentations
- Copies of RM 1.2 Building a Business Assessment (one copy for each guest)
- Copies of RM 6.1 Building a Business Peer Assessment (enough copies for each student to assess each presentation)
- Copies of RM 6.2 Presentation Skills Assessment (one copy for each student)
SESSION 30
- Copies of the Module Test (one copy for each student)