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