school enterprise challenge business idea template web viewan update on our business this year....
TRANSCRIPT
M.C.KEJRIWAL VIDYAPEETHSCHOOLNAME
INDIACOUNTRY
ANNUAL REPORTAn update on our business this year
Aaditya Agarwal, Ayush Sipani, Ritik Jain, Mayank Sarda, Milind Bhuwalka, Tanay Agarwal
Written by STUDENT 1 , STUDENT 2 , STUDENT 3 , STUDENT 4 , STUDENT 5 , STUDENT 6
SUBHECHYYA CHATTERJEELEADTEACHER
CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – SILVER LEVEL
Section A: Executive Summary
Business NamePrayas
Business ActivityHome Decor Products
Main product / serviceEthnic Bandarwal (A home decor product considered auspicious and used to decorate households during festivals)
Our school business social media (Facebook page, blog, Twitter account etc.)
mckvprojectprayas.wixsite.com/india
Number of students involved in business implementation activities (including writing this Annual Report)
Boys -35 Girls-0 Total-35
Number of students in whole school Boys-3100 Girls-0 Total-3100
Number of parents involved in our school business
0
Financial SummaryEstimated (figures copied
from Business Plan)Actual
Our local currency ( )
US Dollars ($)Our local currency ( )
US Dollars ($)
Period of time budgeted for & actually covered:
_6__ Months __6_ Months
Total Income: Rs.8000 $123.84 Rs.5400 $83.75
Total Direct Costs: Rs. 4300 $66.56 Rs.1800 $27.92
Gross Profit: Rs. 3700 $57.26 Rs.3600 $55.84
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Total Indirect Costs: Rs.500 $7.74 Rs.300 $4.65
Net Profit: Rs.3200 $49.53 Rs.3300 $51.18
Section B: Running Our Business
1. Here is a summary of what we did to run our business (including activities carried out to launch the business, if we started a different one this year):
This year we decided to continue with the same business that we had started in the scholastic session 2016-2017. Initially after a brain storming session we zeroed in our main product the 'Ethnic Bandarwal'.Once we decided to add 'Ethnic Bandarwal' to our product list we did a market survey. After the market survey, we purchased raw materials to continue with our production. We held meetings at regular intervals where various pros and cons of the production was discussed. Our art and craft teachers conducted a workshop and gave hands on training to the boys on how to go about. A time slot of 45mins was set aside for production work on a daily basis. Since, the time set was after school, boys worked on rotation basis. Once our products were ready, in one of our meetings we decided to put our product on sale. The Diwali-exhibition cum sale organised on the Result Day of first term we sold our products. The response was overwhelming. Finally the finance team prepared the ledger and calculated our profit.
2. Here is a description of the different departments we worked in and how often we all rotated roles:Right from the onset we divided the departments about how would we work-a) The research and planning departmentb) Marketing and Sales Departmentc) Production Departmentd) Accounting and Finance Department.
All of of our students were involved in the production process. Apart from that, we tried not to rotate roles and strictly focus on respective departments.
Section C: Management & Use of Profits3. a) Here is an explanation of how we formed our Business Management Committee:
A managing committee determines the success of a business, so we had gone about the entire process of selection of our team democratically and discreetly.The teachers first selected a few names, based on their involvement and efficiency in the last scholastic session. These students presented their vision in front of the team. The team then voted and chose the best.
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b) These are the members of our Business Management Committee:
Name Status (teacher/student/parent etc.)Aditya Agarwal StudentRitik Jain StudentAyush Sipani StudentAyush Saraf StudentMilind Bhuwalka Student
c) And this is a record of the meetings our Business Management Committee held:
Date Number of attendees Main subject(s) discussed
Signed off by Principal?(Yes/No)
16.06.17 35 Introduction and general briefing
No
03.07.17 35 Deciding on the main product for the session+ additional products to be covered.
No
18.07.17 20 Pros and cons of production
No
01.08.17 10 Preparing the rooster for production duty
No
25.09.17 10 Date of sales No
4. Here is an explanation of what we decided to spend our profits on and how we came to that decision:
Our school has a very active Interact Club which work for the uplifment of society. We decided to give a larger part of our profits to the Interact Club. The other portion we have kept aside for further investment in our business.A thoroughly democratic way was chosen to decide on how to spend our profits. All the members were asked to write their suggestion and drop in a box. The teachers then chose the best and viable options and ask the students to vote. The students then unanimously voted the above option.
Section D: Achievements, Challenges and Solutions
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We, the Business Management Committee, confirm that we agreed democratically how the profits would be spent. Signed by Business Management Committee:
5. These are the 3 most important things we learned and how these learnings are helping us outside of the business:
1. Team Work : We realised without team work nothing is achievable, when it comes to running a business. Nowadays, wen we are asked to submit group projects it has become a cake-walk for us.
2. Communicating and coordinating skills : We realised that if one can't communicate many potentially great projects fall flat. So it is essential to communicate and accordingly coordinate. In our home we are asked to complete a work, we complete it with much more efficiency.
3. Risk taking : We are now into practical market and have a strong idea how the market works. Our students have gained international outlook and now we are on the way to become budding entrepreneurs. Previously, we would shrink back from taking many decisions but now we realize no risk, no gain.
5. Here is a quote from each head of department explaining the biggest challenge he/she faced when planning/setting up/running our business and the solution(s) we found to overcome them:
Department Name of student head of department
Main challenge faced (quote)
Solution(s) (quote)
The research and planning department
Milind Bhuwalka and Mayank Sarda
"The main problem was to zero in on a product which would be eco-friendly but useful enough for customers to be attracted."
"A brainstorming session was conducted where all the students came up brilliant ideas and finally 'Ethnic Bandarwal' was unanimously chosen as the product for the year."
Marketing and Sales Department
Aditya Agarwal "To convince our customers that our product was of better quality than the ones available in the market."
"Once we were able to convince our customers to buy our products, word of mouth spread and everyone came forward to buy."
Production Ritik Jain "The needle work for making Bandarwal needs specialised training, as it is not like regular stiching."
" Our SUPW teachers were very helpful. Once they gave us the requisite training things became easy for us."
Accounting and Finance
Tannay Agarwal "We had initially planned our budget on an
"We redesigned our budget plans and
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elaborate scale however due to time constraints we were unable to fulfil our initial plan."
reworked on it, and finally things fell into place."
Section E: Sustainability & Business Development
6. Our business is sustainable and has a positive impact on the environment and our community because:
Old clothes which usually end up in land fill are being used as re-used materials; the start-up cost was low, higher margin of profits. People around us are becoming more aware of environment and their responsibility as consumer reduces the amount of waste going into land fill. Besides, a huge portion of our profit is being used for the betterment of our society.
7. Our school business has definite potential to carry on running sustainably for at least the next year. Here is our clear and realistic action plan for how we will continue to run it next year:
1. We will add on to the already existing products.2. We will use a portion of the profit garnered this year for improving on our business the next year.3. Hands on experience will help us give an idea of our drawbacks and thereby we will work on improving it.
Appendix Section: Students in Action Please find in this space some evidence that clearly shows our involvement as students in the setting up, running and management of our business. You will find 3-5 photos (or if that’s not possible, we will share
quotes from participating students).
A photo of one of our sales events:
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A photo of us running our business:
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A photo of our Business Management Committee:
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FINANCIAL REPORTING
1. Income (actual)
NAME OF PRODUCT OR SERVICE
QUANTITY SALES PRICE SALES INCOME (Quantity x Sales Price)
Ethnic Bandarwal30 180 5400
TOTAL SALES INCOME 5400
2. Direct Costs (actual)
NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item)
Moti (beads) 1200 Rs.0.5 Rs.600
Sample Bandarwal 2 Rs.200 Rs.400
Border 2 Rs.250 Rs.500
Bokram 2 Rs.120 Rs.240
Cap 2 Rs.30 Rs.60
Thread 2 Rs.30 Rs.60
Discount -(Rs.60)
TOTAL DIRECT COSTS Rs.1800
3. Gross Profit (actual)Our Local Currency
TOTAL SALES INCOME Rs.5400
TOTAL DIRECT COSTS Rs.1800
GROSS PROFIT (Total Sales Income – Total Direct Costs)
Rs.3600
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4. Indirect Costs (actual)
NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item)
Conveyance Rs.300
TOTAL INDIRECT COSTS Rs.300
5. Net Profit (actual)
Our Local Currency
GROSS PROFIT Rs.3600
TOTAL INDIRECT COSTS Rs.300
NET PROFIT (Gross Profit – Total Indirect Costs)
Rs.3300
This is how we raised the additional money needed to finance our business:
We had organized a food fest in the month of May for the start up capital.
Additional comments about our finances:
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Our Local Currency used : Rupees
Exchange rate to US Dollars: 1Indian Rupee= 0.015 Us Dollar
6. Here are two photos showing how we kept our financial records (e.g. purchase ledger, sales ledger, cash flow statement, cash book).
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STUDENTS’ IMPROVEMENT ON SKILLS
It is important for you, your teacher and for us to reflect on how the Awards Programme has helped you develop your skills. Please ask your teacher to fill in the following sections. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD.
1. After going through the activities to implement your school business do you feel your students...
Please choose ONE option (‘Improved’, ‘Stayed the same’ or ‘Did not improve’) for each row below….
Did not improve
Stayed the
same
Improved
a. Are more confident speaking in front of other people (e.g. during market research) Yb. Work better with people with different opinions to theirs Yc. Have improved their team working ability, e.g. if other team members were struggling
they offered support to themY
d. Are more confident analysing information Ye. Are more able to use their ideas to organise and plan work in order to reach their goals Yf. Are more able to look at different ways to solve a problem and are more confident in
selecting a solutionY
g. Do you feel your students have gained the skills and knowledge to start and run a successful business independently?
Y
2. Can you tell us the biggest impact the program has had on a specific student, their family or even yourself? We grew as individual. We realized that nothing ever can be achieved in life without taking risk.
3. Through the school business implementation process, which skills do you think students improved/gained the most (max 3):
Leadership . Communication Aspiration
Confidence . Decision making Other – Please specify:
Problem solving Team work .4. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option.
No Yes, in ScienceYes, in Maths . Yes, in Business Studies .Yes, in Writing & Reading Yes, Other – Please specify:
5. Have the students used the skills learned through the school business implementation outside school?
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. Yes If you answer ‘Yes’, please specify (if possible):HOW – For example, Have they established any business activities?:All our students are trying to imbibe the skills learnt in various business of their own.With WHOM – For example, with their family, other students, etc.:Most of our students have family business and few have joined hands to open partnership business.
No
CONGRATULATIONS on writing your Annual Report! You have completed Step 3 and the School Enterprise Challenge programme! Submit NOW!
Remember to submit your Annual Report to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login
in order to be eligible to receive your Silver Award.
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