june 8, 2012 mrs. jewelstine sutton & ms. equana jones
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ENTREPRENEURSHIP-THE MARKETING PLAN
June 8, 2012
Mrs. Jewelstine Sutton & Ms. Equana Jones
COMPETENCIES AND OBJECTIVES
1. Identify characteristics of a successful entrepreneurship. (C, CO, EN, IB, M, MK) a. Identify traits that are typical characteristics of a successful entrepreneur.
2. Develop a marketing plan by applying economic concepts for a legitimate business. (C, CO, CP, EP, EN, IB, M, MK)
a. Determine ways to increase markets. b. Explain the effects of market supply and demand. c. Explain the methods used to determine the financial value of an existing business. d. Describe the layout and facilities needed for a planned business. e. Assess the costs of renovating or improving a site for a planned business.
3. Apply economic concepts in an entrepreneurial venture; analyze customer groups and develop a plan to identify, reach, and keep customers in a specific target market. (A, B, C, CO, CP, EP, EN, IB, M, MK)
a. Explain the feasibility of starting a home-based or Internet-based business. b. Plan the startup, operational expenses, cash reserves, and funding needed to start a business. c. Compare and contrast records that should be kept by a business.
4. Analyze the advantages and disadvantages of possible locations for a planned business. (B, CO, EN, EP, IT, M, M
a. Develop strategies for implementing the plan for a specific business (hiring, motivation, leadership, delegation, goal setting, and monitoring achievement).
b. Establish a profit goal for a planned business. c. Identify if there is a profit or loss for a business.
BEFORE LESSON
The United States has a free enterprise system where people have the right to make their own decisions about what products to buy, whether to own private property, and whether to start a business or compete with other businesses.
Activity-Identify four main ways to become a business owner and explain the advantages and disadvantages of each.
Key Terms & **Academic Vocabulary**
Entrepreneur revenue
*Free enterprise gross profit
*Trait net profit
Start-up cost *proprietor
Lease Entrepreneurship
Corporation Entrepreneurial
Good-will
Market outlook
Franchise
Sole proprietorship
Partnership
Operating expenses
Income statement
BUILDING BACKGROUND KNOWLEDGE
http://www.schooltube.com/video/16db2a2342bd3cf1f464/KACTE%20Entrepreneurship%20Event
DURING LESSON
The Unstoppables is a book about entrepreneurs who faced obstacles before they achieved success within their business.
Read text-Students will be given a stories from the book “The Unstoppables.”
Using the Think-Pair- Share method students will discuss their views on each story.
PERFORMANCE-BASED TASKS
Each group will Job Shadow a business outside of the school setting for a week for at least 1-3 hours.
Students will work closely with the entrepreneur.
Upon completion of this project, the groups will develop their own business/marketing plan and present it to the class. The following information must be incorporated into their plan:
Business Name
Mission Statement
Vision Statement
Slogan
Organizational Chart
Include the 5 P’s of Markting (People, Product, Price,People, and Promotion)
Include pictures, charts, live visual aids, etc.
Students will then present their business/marketing plan to the class. Students will be graded using a rubric.
AFTER LESSON
30 words or less write-up Students will write how this experience impacted
their view of entrepreneurship and entrepreneurs.
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