Commercials and Dragons Den

Business Simulator JA Titan 

You will need to create an account

You are to play a game of JA Titan again. This time, keep in mind the importance of Supply and Demand, the importance of Marketing, R & D Research and Development, (and capital investment {not part of the course}. This is for marks, here is the marks breakdown: If you play a Short Game and get a Performance Index Score of 60+ you get 3/5
If you play a Medium Game and get a Performance Index of 50+ you get 3/5
If you play a Short Game and get a P.I. of 90+, you receive 4/5
If you play a Medium Game and get a P.I. of 80+ you receive 4/5
If you play either a Short, Medium, or Long game and get 100+ you will get 5/5
(If you try 2 games and still can't score a high Performance Index, you will still receive a 3/5)
Good Luck

Dec 16

Marketing Your Business: Hiring a Marketing Professional

As a new entrepreneur, you are busy starting and managing your business and have not spent much time marketing you company.  One of the most important aspects of business is marketing and advertising.  In order to maximize your time, you decide to hire a marketing professional to help you market your company.  They will create an advertisement for you.  In order for it to be effective however, you need to give them complete and accurate information on your company and your target market.  (your mark, and the mark of your marketing professional [a student in marketing 11/12] depend on how complete your information is. 

You must provide them with the following information:  It must be in complete sentences however, be as clear and concise as possible.  How good the advertisement is depends on the information you give them. 

What is the name of your Company?

Where are you located?

Do you have a logo? What is it?

Do you have a slogan? What is it?

What product/service are you trying to sell?

How much are you selling it for?

Are you willing to give discounts/sales/coupons etc.  If yes, how much be specific.

Who are you selling it to? Who is your target market (BE SPECIFIC!)

Any additional information and instructions?

Also include, your name…..

When you receive the finished product, you will have the oppourtunity to give your marketing professional feedback.  

Dec 15

Today we are going to look at ethics.

Business is a major part of our lives, society and the world.  Business has created great innovation, generated profit and opportunity for literally billions of people but not all business decisions are beneficial for society.

Ethics: moral principles that govern a persons/or groups decisions

Triple bottom line: People, Planet, Profit

 


Assignment: You are to pick three Dilemmas from the following links to 'Short Dilemmas'.  For each, answer what you would do and why.  (short paragraph)

DILEMMAS (they are not all business dilemmas to give some variety)

Dec 14

Today we will be looking at Ethics and Economics.

According to a report released yesterday, the worlds richest 1% control more than half of all the worlds wealth.  Please read the article HERE.

1. How much wealth does the poorest 50% of the world control?

2. There is a economic theory called 'trickle down economics'.  According to that theory, rich people will spend there money and by them spending it places, it will create jobs for the poor and spread the wealth.  What is your opinion of this theory?  Will it spread the wealth out by having a few very rich people, spending their money, or will that only concentrate the money since they will only spend in a few places and not all over? 

3. We know that one dollar spent 5 times in Canada is 5 dollars to the Canadian economy.  One theory is that if you have 1000 people spending one million dollars each, it is better than having 1 person spending one billion since the 1000 peoples money will be spread out more.  To accomplish this however, the current tax set up may need to change.  Would that be ethical?  Would it be economically justified?

4.  There have been many studies on happiness.  If you compare someone who makes $5000 a year with someone who makes $50,000 a year, the person who makes $50,000 is usually far more happy than the person who makes only $5000.  However, when you compare the average person who makes $50,000 with the average person who makes $5,000,000 a year, the millionaire is only slightly more happy.  (In fact, a recent study shows that most Canadians happiness peaks at a salary around $75,000 per year). 
a) How much do you think that you would want to make a year to make you happy?  Think about your vision of success.
b) Should companies/the owners/entrepreneurs have an ethical duty to try and spread out their wealth?
c) If money is only part of the happiness equation, what other things do people want to make them happy? 

Dec 10

I'm sorry that I am still away.  I will be back tomorrow.  Please carry on with Part 4 and I will come around to see how you are doing and give you some help tomorrow.  Have a great day.

Dec 9

Sorry for being away again, I have no voice left.

Please carry on with part 4.

Dec 8

Preparing a Business Plan Part 4

Financing your Business/Start up & Day to Day Costs 

Now you are getting close to opening you business.  Remember, you have $150,000 but you will probably need to obtain more money through financing.  This is the last part of your business plan and then you will be ready to put it together. 

Task One:  Start Up Costs

In task 3, you made a list of supplies that you will need.  You need to create a Start up cost sheet.  This should ONLY include ONE TIME Start up costs, not monthly payments. 

There is a good example on page 157 in your textbook.  HOWEVER, you MUST include REAL prices.  That means you will have to go on-line to find out what a cash register actually costs.  Since the Canadian and U.S. dollars are so close, you can use both Canadian and American sites.  You must include a list of sites where your information has come from. 

Helpful Hints:  You may choose to work with a partner to find some of the information. For example, if you both need cash registers and desks, you can divide and conquer to find the costs. 

www.costco.ca will be a good starting place for most small businesses. 

Task Two: Operating Expenses

Now you must create an Operating Expenses Report, similar to the one on the top of page 158.  For your rent/lease/mortgage, you have already calculated the value in Preparing a Business Plan part 3.  You have also figured out how many people you are going to hire and roughly how much you are going to pay them in Preparing a Business Plan Part 2.  Use this information to calculate how much you will spend on salaries. Be sure to include INSURANCE costs.  The other operating expenses will vary with each business, please see the teacher for help. 

Task Three: Pro Forma Income Statements (Best and Worst Case Scenarios)

Now it is time to calculate PROFIT!!!  How much money are you going to make.  You must make TWO income statements; a best case scenario and a worst case scenario.  To find out how much money you will realistically make, find the financial statements from a similar company to yours on line.  If you can find a publicly traded company, the information is usually available.  It may be called “Share Holder Information”.  Use the example on page 159 to help you.  Please do not hesitate to ask for help. 

Task Four:  Financing your Business

Now that you have an idea of your Start-up costs, Your Operating costs, and what your income will be.  How much money will you need to start you business?  Write a short report explaining the following..

• How much money do you need to start your business and keep it going?
• Where will you get the money?  Include all sources, you own money, friends, mortgages, loans, investors, partners etc..

Dec 1

Today you are carrying on with your project from yesterday.

good luck

Nov 30

Dragons Den 

Talk on new business technology and how it can help your business

Assignment:  You are to use chapter 13 in your textbook and the internet to research how technology can help your business.  For this assignment you can look at how technology can help business in general, as well as your specific business.  (nearfield communications, gps tracking of inventory, computer conferencing etc).

You are to create a PowerPoint presentation highlighting how NEW technology can help business.  In other words, explain how a new technology can save time, money, space, or make life easier for business. 

Your PowerPoint must touch on several different technologies, have a non-default background, include pictures, sound, and run automatically with proper timing.  Or you may make a Video, Prezi with sound or comparable equivalent. 

This assignment is to help teach you about new technology, increase your competitive edge, and help improve your proficiency with Microsoft Powerpoint.

OUT OF:  30 Marks
Due Friday 

Nov 27

Video on Lego,

Today Lego is one of the most popular toys and is currently selling out this Christmas.  Several years ago, the company was in trouble. 

Paragraph Questions:

Explain some of the business decisions that have allowed Lego not only be able to avoid finanncial trouble?  (eg, what was Lego's 'core business', what do they focus on? how do/did they expand? what decisions did the CEO make?)

Nov 26

Dragons Den

Today we are going to carry on with accounting, budgeting and finance.

We will be using the following LINK

1. Explain the 20/10 rule/law

Next use this LINK

2. How long will it take to pay off a $1000 debt with minimum payments at 15%
3. What about 25%?
4. How much interest do you pay at 15%?
5. How much interest do you pay at 25%

Now, pick a topic in the side bar HERE.(eg. buying a car)and summarize 3 main point.

Next, play the games at this LINK

Nov 25

Today we will be looking at Insurance.

First, read Section 7.3 in the textbook and complete the worksheet.

Next, answer the following question and email it me.

What type of insurance is necessary for YOUR business?

Nov 24

Dragons Den

Simple Interest vs Compound interest

Worksheets on Interest and Bank Statements

Nov 23

Today we are starting to look at Accounting and Finnance

Read pages 272-281

Define, in your own words, each of the yellow highlighted terms.  Next answer Questions 1-3 on page 277.

Please hand in a copy.

Nov 18

Please make sure that you have all of Part 2 and 3 handed in Friday (Monday at the latest)

Here are the assignments:

Preparing a Business Plan Part 2

Management/Organizational Structure & Recruiting

Employees 

Task One:  Your first task will be to create an organizational chart for your business.  It should include the following:
* Your Business Name
* ALL people/positions in the company, including yours (if you don't have the names of employees, just list the job title.
* Job positions should be divided into categories (depends on the type of business)  Examples: cooks, waitresses, managers, sales staff, etc.
* The chart should be arranged to show the management positions at the top and the part-time, low-pay positions at the bottom.
(please see me if you business will have no employees)

Task Two: Now that you have your organizational chart complete, you need to decide how you will compensate your employees.  Will they be paid salary or hourly wages?  Write what each employee will be paid next to each position on your organizational chart.

Next write a description of the other compensation/benefits/bonuses you will provide your employees.  (commission, sick days, vacation, employee cat etc.)

Task Three: Now that you know what employees you need, now it time to create some job adds. 

Using the following links for help (DO NOT COPY) create 3 job advertisements

www.monster.ca

www.workopolis.ca

www.jobloft.com

Task Four:  In paragraph format, explain your management style.  What characteristics describe you?  How will you interact with your employees? Will you be friendly, format, authoritarian?  How will you delegate? How will you deal with difficult employees?

Preparing a Business Plan Part 3 A

LOCATION AND DESIGN 

Task One:  Location, location, location:  Think of TWO types of locations that you would want to locate your business in (downtown, residential, industrial park etc).  Make a list of Pros and Cons for each of your TWO location types. (5 marks)

Task Two:  How much $.  First determine, are you going to buy space or lease? You must be realistic, so you can’t buy an office tower. 

If you choose to lease:

Go to the following link: www.space4lease.com

Next, find two or three spaces that are similar to the type that you would lease.  You must then calculate how much it would cost you to lease space per month AND per year.  You may need a little help from the teacher to calculate this so please ASK if you are stuck.

If you choose to rent:

Go to the following link: www.clslink.ca

Next find two different places that you would be interested in purchasing.  How much do they cost? 

Go to the following link to answer the next questions: www.canadamortgage.com/calculators/amortization.cgi

With a 10% down payment and 7% interest rate over a 5 year term and a 25 year mortgage, how much will the monthly payment be? 

How much of the principle will be paid off in one year?

How much will you pay in interest in one year?

How much will you pay in interest by the time you have paid off the property?

Preparing a Business Plan Part 3 B

LOCATION AND DESIGN 

                                   

Task Three:  What are the main supplies that your business will require?  Using Microsoft EXCEL, create a list of the main equipment and supplies that you will need.  Include things such as major equipment and specialty fixtures.  Examples, stoves for restaurants, fixtures for shoe stores etc.   

See page 203 for help

Task Four:  You are to create a rough floor plan for your business (blue print). 

The design can be similar to the one on page 198.  It must be labelled or include some kind of legend.  It should include all major fixtures and important elements. 

You must also write a paragraph explaining how your store design will help increase sales.  Your paragraph must also explain how your design takes ergonomics into account.  Is your design safe? Does it decrease shrinkage?  Increase efficiency?

Nov 16

Commercials and Dragon's Den

Video on 'The Secret World of Shoplifting'

Questions

1. What are some of the reasons that people steal?
2. Why is stealing a problem for companies?
3. What can companies do to combat shop lifting? 

Nov 10

Commercials and Dragons Den

Carry on with part 3.

Here is a website to help.  www.smartdraw.com

You will have to download it each day though.

Nov 9

Today we will carry on with Part 3 of your business plan.

We will start with NOTES on the location and design or your business.

Assignment 

Read the articles at the following links

Why a Business plan

What is and Why a SWOT

1. What is a SWOT?

2. What are some the the things that a business plan should include?

3. Why is a business plan necessary?

 

Now you have time to work with INVESTOPEDIA

Sept 18

Check your stocks

 

Watch 'Venture' on Fou Fou Dog.

Answer the following questions

1. Is the idea of fou fou dog a good one, why or why not?

http://www.foufoudog.com/

2. Evaluate the website, is it laid out well?  Visually appealing etc?

3. Do you think that Ms. Ng will recover her $75,000 and make a good profit, why or why not?

Please email  your work to me.

Sept 17

Dragons Den 

Discuss Simple Supply and Demand

 

Talk about purchasing existing businesses

Finish the worksheet on purchasing an Existing business and hand in

This LINK may help. 

Sept 16

Today's Assignment.  Today we will be looking at goal setting and goals. 

First we will Look at Bucketlist and goal setting

Questions.

1. Why is goal setting important?
2. Why is it important to write your goals down?
3. Write down 5 goals that you have.  They can be in business, school, life, travel or anything.  Just think what you would actually like to do. 

Look at Kickstarter 

Questions

4. Describe how Kickstarter is used to raise 'capital'.
5. Explore some of the active kickstarter Campaigns here.  Assume that you have a high paying job and money to invest.  Pick 3, name them and describe if you would invest in them?  Why or why not?  (think of what would make you more likely to invest.  It may come in handy if you are looking for investors)

Sept 15

Sorry that I am away today.

Today you will be going through a tutorial on stock trading.  Here is the LINK or you can search for another tutorial on you own to answer the questions.  There are several on youtube but you may have to watch a few to answer all the questions.  This should help you with your trading

Questions

1. What is a stock?
2. What is the difference between common and preferred stocks?
3. What causes the price of stocks to go up and down?
4. What is a dividend?
5. Explain what a price to earnings ratio is?
6. What is the NASDAQ?
7. What are Bulls, Bears, Chickens and Pigs in investing?
8. Accoriding to the the recap at the end of the article, what happens to pigs?

Sept 14

Talk and check Investopedia Stocks

Next please read pgs. 9 - 13

1. List and briefly describe the (possible) characteristics of an entrepreneur.

2. Now please list your skills (or developing skills) that could help you be an entrepreneur.

3. What are your areas of weakness (where you would need to hire help) or areas where you need to grow (perhaps learn more skills)

4. What are the advantages and disadvantages of being and entrepreneur? 

Then we will look at "Identifying Business Opportunities"  Pg 14 and 15 

LINK

1. Find a business for sale that you feel 'could' be a good oppourtunity.  Name the business, the price, and why you think it could be a good investment.  

Today you will have time to finish the franchise activity from yesterday and to start trading stocks on 
Investopedia: Today we are going to start a new 'project' that will last the whole semester.

To start, please go to the following link and create an account for yourself.

http://www.investopedia.com

NOTES on the Functions of Business

Sept 10

Commercials and Dragons Den

Discuss, what makes a good entrepreneur

FRANCHISE ACTIVITY

You are to pick 3 different franchises that you would be interested in buying into.  To do this, search for the company's website and then find the part that says franchise info or business oppourtunity.  Once there, find the information on the following.

1. What is the franchise fee

2. What are the Royalty fees

3. What are the Advertising fees

4. How much money do they suggest you have

5. What do they do for you if you buy a franchise

Sept 9

Welcome to Entrepreneurship 12!

Today you will receive the course outline and we will go over the basics of the course and 

What is entrepreneurship?

Notes on Business Basics

Activity: You are to choose a famous entrepreneur. You are to then use the Internet to research your entrepreneur and answer the following questions in complete sentences.

1. What is your entrepreneurs name and what is the business/product that they are famous for.

2. Briefly explain some of their major successes.

3. Have they had any failures or troubles, if so, do you think that it hurt them or helped them in the end? Explain.

4. In a paragraph explain how this person has managed to achieve success, (you may wish to talk about their ideas, work ethic, ability to compete etc.)

5. Include a picture(s)

Here are some links to information about famous entrepreneurs

http://entrepreneurs.about.com/od/famousentrepreneurs/Famous_Entrepreneurs.htm

Here is a list of famous entrepreneurs, you can pick on and google their name.

http://cecteachers.dpsk12.org/stories/storyReader$75

Due: THURSDAY

N.B. If you are late or away, don't forget to check the website. If you have any questions or need help, you can always send me an e-mail at: teachersouthwell@gmail.com