Entrepreneurial behaviour
Tuning In
Create a mind map for the question what does it mean to be entrepreneurial? Use the varying colours of the mind map to reflect skills, characteristics, training, opportunities etc. Important concepts for students to connect with include the need to be creative, patient, hard working, positive, confident and that age, gender and cultural backgrounds are no barrier.
Create a mind map for the question what does it mean to be entrepreneurial? Use the varying colours of the mind map to reflect skills, characteristics, training, opportunities etc. Important concepts for students to connect with include the need to be creative, patient, hard working, positive, confident and that age, gender and cultural backgrounds are no barrier.
What does it mean to be entrepreneurial?
Characteristics of entrepreneurs and successful businesses
Students could work in BUZZ GROUPS in groups of three to research either a successful entrepreneur or businesses.
Click on the highlighted words to go to the following links to support students in learning about the top 5 most successful international business and 16 Australian Entrepreneurs most valuable lessons. From here students continue in their BUZZ GROUPS to research and list the characteristics that are needed for businesses and entrepreneurs to be successful. The Kidpreneur youtube clip on the previous page also includes interviews with Australian entrepreneurs.
Students report their learning back to the group as an oral report highlighting the behaviours and personal mottos that entrepreneurs bring to their business. Students can create artwork for display using beautiful fonts to express the motto of the Australian entrepreneur they researched.
Characteristics of entrepreneurs and successful businesses (ACHEK019)
Students reflect on the following dot points when considering what makes a successful business.
For example:
Click on the highlighted words to go to the following links to support students in learning about the top 5 most successful international business and 16 Australian Entrepreneurs most valuable lessons. From here students continue in their BUZZ GROUPS to research and list the characteristics that are needed for businesses and entrepreneurs to be successful. The Kidpreneur youtube clip on the previous page also includes interviews with Australian entrepreneurs.
Students report their learning back to the group as an oral report highlighting the behaviours and personal mottos that entrepreneurs bring to their business. Students can create artwork for display using beautiful fonts to express the motto of the Australian entrepreneur they researched.
Characteristics of entrepreneurs and successful businesses (ACHEK019)
Students reflect on the following dot points when considering what makes a successful business.
For example:
- a shared vision
- innovation and enterprise
- choice of location
- quality of product
- sound management practices
Developing Concepts: How businesses respond the demands of consumers
Assessment for learning
Conduct a whole class brainstorm: 'successful products the students already know about'
Think, pair, share ideas for identifying a new product.
Complete a needs analysis. Generate a range of alternatives in response to an observed economic or business issue or event and evaluate the potential costs and benefits of each alternative. (ACHES024)
Complete a needs analysis. Generate a range of alternatives in response to an observed economic or business issue or event and evaluate the potential costs and benefits of each alternative. (ACHES024)
needs_analysis.docx | |
File Size: | 41 kb |
File Type: | docx |
4. Use a PMI chart for supporting students in thinking about their product more deeply. Encourage students to think about the resources needed and the impact on the work force and types of work available.
The ways consumers and producers respond to and influence each other in the market (ACHEK017)
The ways consumers and producers respond to and influence each other in the market (ACHEK017)
Thinking like an entrepreneur
Young Entrepreneurs: Welcome to the Shark Tank - assessment of learning
Students use the needs analysis and PMI to develop a marketable product. Students carry out market research in the form of surveys, questionnaires and then represent the findings graphically. Students work through the criteria with explicit teaching of how to complete a Business Plan.
From here students carry out a marketing campaign utilising persuasive text types to communicate the reasons why people should buy the product. Students construct a model of the product and plan a multi modal presentation to communicate (pitch) the necessity of this product for consumers based on the needs and wants of people in the community.
Below is an assessment rubric and task sheet. Two students for each presentation acted as 'sharks' and conducted a modified peer assessment based on the elements from the teacher assessed rubric (market strategy, idea, construction, research and presentation).
From here students carry out a marketing campaign utilising persuasive text types to communicate the reasons why people should buy the product. Students construct a model of the product and plan a multi modal presentation to communicate (pitch) the necessity of this product for consumers based on the needs and wants of people in the community.
Below is an assessment rubric and task sheet. Two students for each presentation acted as 'sharks' and conducted a modified peer assessment based on the elements from the teacher assessed rubric (market strategy, idea, construction, research and presentation).
young_entrepreneurs.docx | |
File Size: | 59 kb |
File Type: | docx |
Business Plan
The Business Plan below has been shared via the Business Studies faculty from St Thomas Moore College, Salisbury Downs - Thanks Anne Glamuzina.
business_plan_-_basic_for_kids.docx | |
File Size: | 632 kb |
File Type: | docx |
Reflection
Introduce the term opportunity cost . Look at each word separately, students make approximations about what the concept might mean.
Opportunity cost is a term used in economics, to mean the cost of something in terms of opportunity foregone.
Discuss the following examples sourced from www.davemanuel.com:
Example #1: A child can either buy a new bike or an Xbox 360 gaming system. She chooses to buy the Xbox 360, so the opportunity cost of buying the 360 is the bike.
Example #2: A family has to choose between taking a trip to Queensland or purchasing new ipad for everyone in the family.
The opportunity cost of taking the trip to Queensland is the new ipad, while the opportunity cost of buying the new ipad is the trip to Queensland.
Example #3: A student has to decide between studying for their test or enjoying a night out with his friends.
The opportunity cost of studying for the test is foregoing a night with his friends, while the opportunity cost of going out with his friends is the benefits of studying for his test.
Students discuss with a friend their own opportunity cost story - an example from personal experiences.
Go to the following website: Education Portal to view a clear explanation of opportunity cost. Students write a definition for the concept. And, finally reflect on learning to express the opportunity cost involved in the Young Entrepreneur project that was completed toward the end of the unit.
Opportunity cost is a term used in economics, to mean the cost of something in terms of opportunity foregone.
Discuss the following examples sourced from www.davemanuel.com:
Example #1: A child can either buy a new bike or an Xbox 360 gaming system. She chooses to buy the Xbox 360, so the opportunity cost of buying the 360 is the bike.
Example #2: A family has to choose between taking a trip to Queensland or purchasing new ipad for everyone in the family.
The opportunity cost of taking the trip to Queensland is the new ipad, while the opportunity cost of buying the new ipad is the trip to Queensland.
Example #3: A student has to decide between studying for their test or enjoying a night out with his friends.
The opportunity cost of studying for the test is foregoing a night with his friends, while the opportunity cost of going out with his friends is the benefits of studying for his test.
Students discuss with a friend their own opportunity cost story - an example from personal experiences.
Go to the following website: Education Portal to view a clear explanation of opportunity cost. Students write a definition for the concept. And, finally reflect on learning to express the opportunity cost involved in the Young Entrepreneur project that was completed toward the end of the unit.
At the end of the unit students reflected on the key questions:
1. WHY IS THERE A RELATIONSHIP BETWEEN CONSUMERS AND PRODUCERS IN THE MARKET?
2. WHY IS PERSONAL, ORGANISATIONAL AND FINANCIAL PLANNING FOR THE FUTURE IMPORTANT FOR BOTH CONSUMERS AND BUSINESSES?
3. HOW DOES ENTREPRENEURIAL BEHAVIOUR CONTRIBUTE TO A SUCCESSFUL BUSINESS?
4. WHAT TYPES OF WORK EXIST AND IN WHAT OTHER WAYS CAN PEOPLE DERIVE AN INCOME?
Students compared answers to their ideas from the beginning of the unit. This gave them and teachers a way of measuring understanding about the key concepts and to clarify thinking for each other.
1. WHY IS THERE A RELATIONSHIP BETWEEN CONSUMERS AND PRODUCERS IN THE MARKET?
2. WHY IS PERSONAL, ORGANISATIONAL AND FINANCIAL PLANNING FOR THE FUTURE IMPORTANT FOR BOTH CONSUMERS AND BUSINESSES?
3. HOW DOES ENTREPRENEURIAL BEHAVIOUR CONTRIBUTE TO A SUCCESSFUL BUSINESS?
4. WHAT TYPES OF WORK EXIST AND IN WHAT OTHER WAYS CAN PEOPLE DERIVE AN INCOME?
Students compared answers to their ideas from the beginning of the unit. This gave them and teachers a way of measuring understanding about the key concepts and to clarify thinking for each other.
Excursions and guest speakers
Organise a local business and or entrepreneur for students to visit and have contact with to provide expert advice and support to students in their learning. The ways consumers and producers respond to and influence each other in the market (ACHEK017)
dAs we are located in the northern region we contacted Northern Futures to help support us in connecting with local businesses. Students selected one of the following excursions to a local business. They will be able to liaise with local business operators to ask questions about the general operations and how consumers influence business practice.
The businesses that students connected with in our local area included:
Students work in groups to present a 'Careers Day' based on their learning about local business.
The businesses that students connected with in our local area included:
- Parafield Airport
- R.M Williams
- Griffin Press
- Peter Kittle Motors
Students work in groups to present a 'Careers Day' based on their learning about local business.