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Entrepreneurship Learning Activities

What’s In It for Me?

The purpose of this activity is to address Economic Concepts, including costs and benefits of owning and operating a business, realizing that being your own boss involves trade-offs, examining the incentives for starting a business, as well as the opportunity costs involved.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: A.04 Determine opportunities for venture creation, B.19 Make decisions, B.26 Use Feedback for personal growth, D.01 Explain the nature of effective communications, D.08 Make Oral Presentations, F.06 Determine forms of economic utility created by business activities, F.10 Describe cot/benefit analysis

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Entrepreneurship - It's Elementary

The elementary teacher often has so much to teach that entrepreneurship education does not appear in the curriculum. Because it is crucial to let children know that entrepreneurship is a viable career option and the skills are critical in developing problem solving skills, there are many ways lesson can be integrated into existing curriculum.

The activity supports the Entrepreneurship Content Standards/Performance Indicators depending upon activities selected as well as the content area selected. Content standards in the academic areas will also vary based upon the activities. To view Entrepreneurship Content Standards/Performance Indicators go to http://www.entre-ed.org/Standards_Toolkit/standards_detail.htm .

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The OUT OF THE BOX Factory

Writing a business plan is often a daunting experience for young entrepreneurs. The following activity is not only a hands-on way to introduce writing a basic business plan, it also builds creative problem solving and teamwork skills. THE OUT OF THE BOX FACTORY activity has been used with all ages, from third graders to adults.

Intended outcomes The student will: • Have the opportunity to meet others in the group and practice team skills • Practice critical thinking and creative problem solving skills • Practice decision-making skills • Learn the components of a basic business plan • Plan and present a commercial • Learn the components of a basic advertisement • Apply different learning styles to complete a task

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: • A.06 Describe idea-generation methods, • B.07Lead others using positive statements, • B.08 Develop Team Spirit, • B.20 Develop an orientation to change, • B.25 Develop tolerance for ambiguity, • L.29 Select sales-promotion options, • O.09 Develop business plan

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BAGEL Business Basics

Bagel Business Basics is a unit designed to teach basic entrepreneurship and economic concepts. There are some exercises in creative problem solving as well. This unit uses the children’s book, Mr. Belinsky’s Bagels as a point of reference.

The lessons, though, are appropriate for learners of all ages; and some of the lessons can stand alone. The bibliography suggests other children’s books which can be used with these lessons or for additional lessons

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: A.04 Determine opportunities for venture creations, A.06 Describe idea-generation methods, A.07 Generate venture ideas, A.16 Use components of a business plan to define venture ideas, B.09 Enlist others in working toward a shared vision, C.01 Explain the role of business in society, C.04 Explain opportunities for creating added value, D.17 Follow directions, D.26 Participate as a team member, F.01 Distinguish between economic goods and services, F.03 Explain the concept of scarcity, F.05 Describe the nature of economics and economic activities, F.07 Explain the principles of supply and demand, F.23 Assess factors affecting a business profit, F.25 Explain the concept of competition, I.22 Establish financial goals and objectives, L.02 Generate product/service ideas, L.05 Determine initial feasibility of product/service ideas, L.13 Describe the role of situation analysis in the marketing-planning process, L.26 Develop promotional plan for a business, M.01 Plan business layout, O.08 Develop action plans

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FINANCIAL LITERACY IN ENTREPRENEURSHIP

Two critical but often overlooked financial literacy concepts with entrepreneurial implications are decision making and opportunity cost: Financial education must include decision making skills. Teach students a simple but useful decision making process: 1.State the problem – What do I need to decide? 2.List the alternatives – What choices are there? 3.State the criteria – How will I judge? 4.Evaluate the alternatives – Use a numerical rating or a plus and minus system; this step is a cost/ benefit analysis. 5.Make a decision – What will work best with the resources I have? The critical sixth step is often left untaught: 6.Evaluate your decision – Did my decision work? What might have been better? What did I forget or overlook?

The activities support the Entrepreneurship Content Standards/Performance Indicators as follows: • A.18 Describe processes used to acquire adequate financial resources for venture creation/startup, • C.04 Explain opportunities for creating added value, • D.03 Use proper grammar and vocabulary, • D.08 Make oral presentations, • D.17 Follow directions, • G.03 Describe the sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.), • I.14 Determine market segments, • L.24 Select advertising media, and • L.29 Select sales/promotion options.

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Tower of Babel Challenge

Construct the tallest (highest) free-standing tower using only the materials provided by the Teacher

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: • B.09 Enlist others in working toward a shared vision, • B.19 Make decisions, • B.20 Develop an orientation to change, • B.25 Develop tolerance for ambiguity, • B.27 Demonstrate creativity, • D.01 Explain the nature of effective communication, • D.05 Explain the nature of effective verbal communications, • D.08 Make oral presentations, D.23 Treat others fairly at work

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What's In It For Me

The purpose of this activity is to address Economic Concepts, including costs and benefits of owning and operating a business, realizing that being your own boss involves trade-offs, examining the incentives for starting a business, as well as the opportunity costs involved.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: A.04 Determine opportunities for venture creation, B.19 Make decisions, B.26 Use Feedback for personal growth, D.01 Explain the nature of effective communications, D.08 Make Oral Presentations, F.06 Determine forms of economic utility created by business activities, F.10 Describe cost/benefit analysis

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Assets, Dreams, and Goals

Goal: To have students think like an entrepreneur does as he/she begins the process of quickly assessing where they are at, what they have to work with, where they are going, where they want to be, and perhaps (though not so often), when they want to get there. (Note: Creating a Dream List and Making Plans to Achieve Goals can be done as two separate exercises)

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: A.01 Explain the need for entrepreneurial discovery, A.06 Describe idea/generation methods, B.12 Describe desirable entrepreneurial personality traits, B.14 Determine interests, B.15 Evaluate personal capabilities, B.16 Conduct self-assessment to determine entrepreneurial potential.

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DO YOU KNOW YOUR COMMUNITY?

Entrepreneurs must know about their “market” when thinking of what businesses to start in their community.

Instructions: Ask students to survey community data in resource books in the school library or on the Internet. These might include census data, Sales and Marketing Management’s “Survey of Buying Power”, State Department of Commerce, etc. They should find out as much as possible about current and projected data, and compare it to past data to determine possible changes in local markets. The local chamber of commerce may also have basic information of use to the group.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: • D.01 Explain the nature of effective communications, • D.06 Address people properly, • D.11 Write informational messages, • D.14 Prepare simple written reports, • E.03 Employ desktop operating skills, • E.07 Use reference materials to access information, • E.11 Demonstrate basic search skills on the Web, • E.14 Communicate by computer, • K.09 Demonstrate write/publishing applications, • K.15 Select sources of business start-up information, and • K.16 Conduct an environmental scan to obtain marketing information.

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Entrepreneurship Books

This is a list of books that can be used in the classroom for students related to entrepreneurship.

Performance indicators addressed will vary with books used by the teacher and student. To view Entrepreneurship Content Standards/Performance Indicators go to. http://www.entre-ed.org/Standards_Toolkit/standards_detail.htm .

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Are We Prepared for a Global Economy?

A discussion and dialogue about being prepared for the Global Economy.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.09 Explain the nature of written communications,

• F.28 Explain the nature of international trade,

• H.14 Explain the need for ongoing education as a worker,

• H.17 Utilizes resources that can contribute to professional development (e.g., trade journals/periodicals, professional/trade associations, classes/seminars, trade shows, and mentors)

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AROUND THE WORLD

Developing a business plan (a competition of DECA)

Performance indicators will vary depending upon the approach the student takes with the DECA competitive Event. The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.06 Describe idea/generation methods,

• D.01 Explain the nature of effective communications,

• L.01 Explain methods to generate a product/service idea,

• L.06 Plan product/service mix,

• L.15 Select target markets,

• M.11 Select distribution channels,

• O.04 Develop company goals/objectives,

• O.06 Forecast income/sales,

• O.09 Develop business plan

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Can Americans Keep Ahead in the Global Marketplace?

This activity includes questions which are suggestions for classroom discussions, themes for student reports, and the foundation for classroom activities of all kinds related to entrepreneurship and the global marketplace. It challenges students to think of the skills and educational experiences that Americans may need to be successful entrepreneurs and productive workers in an ever-expanding global market.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• F.28 Explain the nature of international trade,

• F.29 Describe small-business opportunities in international trade,

• F.30 Determine the impact of cultural and social environments on world trade,

• F.32 Evaluation influences on a nation’s ability to trade,

• L.02 Generate product/service ideas,

• L.06 Plan product/service mix,

• L.09 Develop strategies to position product/service,

• L.15 Select target markets.

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CREATING A NATION OF ENTREPRENEURS

This scenario (taken from real students) may help students think and discuss what experiences they have had or will have that may contribute to their future plans, such as an entrepreneur. This activity is based on the experiences of two 8th grade entrepreneurs.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.02 Discuss entrepreneurial discovery process,

• A.05 Assess opportunities for venture creation,

• A.07 Generate venture ideas,

• D.01 Explain the nature of effective communications,

• D.03 Use proper grammar and vocabulary,

• D.06 Address people properly,

• D.08 Make oral presentations,

• D.11 Write informational messages.

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How Do Entrepreneurs View Risk?

When you think of risk, do you conjure up thoughts of gambling, chance, or a blind leap into an unknown situation? These are types of risk, but to the entrepreneur, risk is just another factor to consider in the decision-making process.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.01 Explain the nature of effective communications,

• D.08 Make oral presentations,

• N.01 Describe type of business risk,

• N.02 Determine ways that small businesses protect themselves against loss,

• N.06 Explain ways to transfer risk.

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Finding Your Own Business Options

An activity of personal assessment of aptitudes and potential business ideas

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• B.12 Describe desirable entrepreneurial personality traits,

• B.13 Determine personal biases and stereotypes,

• B.14 Determine interests,

• B.15 Evaluate personal capabilities,

• B.16 Conduct self-assessment to determine entrepreneurial potential,

• H.01 Evaluate career opportunities based on current/future economy,

• H.06 Explain employment opportunities in entrepreneurship,

• H.07Utilize job search strategies

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WHY DO THEY BUY?

This activity is designed to encourage your students to think about why customers buy certain products.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.01 Explain the nature of effective communications,

• D.08 Make oral presentations,

• L.09 Develop strategy to position product/service,

• L.14 Determine market segments,

• L.15 Select target markets,

• L.24 Select advertising media

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Defying the Odds

Developed by the Curriculum and Instructional Materials Center, Oklahoma Department of Career and Technology Education. Interested trainers and organizations can order "Defying the Odds” through the CIMC online catalog at: www.okcareertech.org/cimc; by phone at 800-654-4502, or by fax at 405-743-5154. They can purchase the videos and workbook together (for a course facilitator) as well as additional workbooks (for participants).

This resource is part of the Entrepreneurship Learning Activities collection.

The six parts of the book/course will address varying performance indicators located at http://www.entre-ed.org/Standards_Toolkit/.

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GoVenture Business Financing Activity

Learners will be introduced to the primary types and sources of financing available to business

Outcomes Learners will be able to:

• List the two primary types of financing available to businesses, and describe the benefits and drawbacks of each.

• List the various sources of financing.

• Identify the motivation behind each source of financing.

• Explain which type of financing might be most suitable for a given business.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.01 Explain the nature of effective communications,

• G.10 Describe services provided by financial institutions,

• I.08 Explain the purposes and importance of obtaining business credit,

• I.16 Explain sources of financial assistance,

• I.17 Explain loan evaluation criteria used by lending institutions

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Interdiscplinary Entrepreneurship Learning Ideas

These interdisciplinary Entrepreneurship Learning Ideas include:

• Social Studies and Entrepreneurship,

• Science and Entrepreneurship,

• Arts/Performing Arts and Entrepreneurship,

• Math and Entrepreneurship, and

• Language Arts and Entrepreneurship.

Entrepreneurship Education Content Performance indicators addressed will vary depending upon activities selected as well as the content area selected. Content standards in the academic areas will also vary based upon the activities. To view Entrepreneurship Content Standards/Performance Indicators go to. http://www.entre-ed.org/Standards_Toolkit/standards_detail.htm .

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Profile Your Aptitudes

Entrepreneurs see their aptitudes as a special opportunity to develop a business. Often their aptitudes have lead them to experiences where these aptitudes helped them excel. Through the many experiences of our lives, people learn about their own natural abilities and seek additional experiences where they believe they can be successful because they “can do it.”

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• B.15 Evaluate personal capabilities,

• B.16 Conduct self-assessment to determine entrepreneurial potential,

• D.11 Write informational messages

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Visualize Your Future

All students should have an opportunity to dream about their future while they are still preparing for it. This activity can be used with youth of any age, but will need some modification regarding the number of years from now they are to think about for their future.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• B.15 Evaluate personal capabilities

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Just What is Profit?

Understanding profit is essential to anyone interested in starting their own business. It is also important for anyone who works in a business that seeks to make a profit. Much of the misunderstanding about profit is related to a lack of understanding of the terms used in business that explain financial decisions.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.02 Apply effective listening skills,

• D.03 Use proper grammar and vocabulary,

• D.05 Explain the nature of effective verbal communications,

• F.02 Explain the factors of production,

• F.07 Explain the principles of supply and demand,

• F.08 Describe the concept of price

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Let's Practice Making a Profit

This is the story of Goodies Gift Shop in its third year of operation in Small Town USA. Amelia Goodies, the owner, runs the shop with 4 full time employees, 2 part timers and herself. Her sales last year were $500,000 and her profit was $20,000 after taxes.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.02 Apply effective listening skills,

• D.03 Use proper grammar and vocabulary,

• D.05 Explain the nature of effective verbal communications,

• F.02 Explain the factors of production,

• F.07 Explain the principles of supply and demand,

• F.08 Describe the concept of price

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Economics - the Foundation of Entrepreneurship

The purpose of the study of economics is to help society decide how to create, distribute, and consume wealth. Every human activity has an economic dimension. Every time you wonder if there will be enough money to pay the rent or the mortgage, question the increase of food prices or decide to buy certain products, you are acting as an economic decision-maker. The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• F.02 Explain the factors of production,

• F.03 Explain the concept of scarcity,

• F.06 Determine forms of economic utility created by business activities,

• F.07 Explain the principles of supply and demand

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The Business Plan - The Technology of Entrepreneurship Education

Banks and other lending agencies often ask for a business plan to determine whether your business idea has promise. But many entrepreneurs never write out their plans, for a number of reasons, mostly which they are too busy or don't really know how.

For entrepreneurship educators, the business plan is the technology of preparation for students to run a business. It forces the writer to make choices and decisions, and to look at the outcomes of various approaches to running the business. A business plan will be quite different for a person expecting to borrow money from the bank versus a grade school student creating a plan for a money-making project. And there are many levels in between. But in spite of the difference in sophistication, many of the same questions must be answered.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• F.09 Explain the concept of productivity,

• F.10 Describe cost/benefit analysis,

• L.34 Explain factors affecting pricing decisions,

• L.37 Set prices

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Business Plan Basics

The business plan is a tool to help you find and explore opportunities. Students at any level of education can use the concept of preparing a business plan as a method of exploring all kinds of ideas for starting a business. It is merely a series of questions that lead you to think about the requirements and the possibilities of any kind of business. Until you start to ask these questions, you aren't able to visualize the details necessary to be successful in a business. There are many different approaches to writing a business plan, some more complex than others. But the basic components of a business plan can be organized as follows:

• providing a description of the business,

• choosing the best marketing strategy,

• identifying the management plan, and

• analyzing the finances needed to start the business and make it successful.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.31 Use creativity in business activities/decisions,

• D.03 Use proper grammar and vocabulary,

• D.09 Explain the nature of written communications,

• D.11 Write informational messages,

• D.13 Write persuasive messages,

• E.02 Apply basic commands of operating system software,

• E.16 Operate computer-related hardware peripherals,

• K.09 Demonstrate writing/publishing applications,

• K.15 Select sources of business start-up information,

• K16 Conduct an environmental scan to obtain marketing information,

• O.09 Develop business plan

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Creativity, Innovation and Problem Solving

Innovative thinking is the key to becoming a successful entrepreneur. Whether you actually invent a new product or process, or you use creativity to find a better way to market existing products or services, you will need to learn how to think like an inventor.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.06 Describe idea/generation methods,

• D.09 Explain the nature of written communications

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Put Yourself in Their Shoes

This activity is designed to help you investigate how successful entrepreneurs used their thinking skills to create a better idea than their competition

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

A.06 Describe idea/generation methods,

B.03 Demonstrate initiative,

B.06 Recognize others efforts,

D.02 Apply effective listening skills,

D.03 Use proper grammar and vocabulary,

D.11 Write informational messages,

D.16 Use communications technologies/systems (e.g. email, faxes, voice mail, cell phones, etc.),

E.11 Demonstrate basic search skills on the Web

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Class Market Survey

Instructions: Using this form, survey one class in the school to determine possible school-based business ideas. (Arrange with the teacher the best time for the survey). You may wish to do the survey by show of hands or redesign the questionnaire for each student to fill out separately. After combining responses for one or more classes, discuss your suggestions for products and services that your school “market” could use.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

A.04 Determine opportunities for venture creation,

A.07 Generate venture ideas,

D.03 Use proper grammar and vocabulary,

D.06 Address people properly,

D.08 Make oral presentations,

D.11 Write informational messages

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Promotion Basics

Why do we buy the television we watch, the cars we drive, and even the toothpaste we use? We buy them primarily as a result of promotion. Promotion is a part of our daily lives. The clothes we choose to wear and the food we choose to eat are almost entirely the result of promotion.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.02 Apply effective listening skills,

• D.03 Use proper grammar and vocabulary,

• D.08 Make oral presentations,

• L.22 Describe the elements of the promotional mix,

• L.23 Calculate advertising media costs,

• L.29 Select sales-promotion options,

• L.32 Evaluate effectiveness of advertising

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Money-Saving Marketing Tips

This activity uses brainstorming methods for students to come up with as many money-saving marketing ideas as possible to market this business more effectively. They include methods of networking, bartering, and negotiating.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows: A.06 Describe idea-generation methods,

A.08 Determine feasibility of ideas,

B.25 Develop tolerance for ambiguity,

D.01 Explain the nature of effective communications,

D.06 Address people properly,

D.08 Make oral presentations,

L.22 Describe the elements of the promotional mix

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What Affects Pricing?

Activity: Ask the class to share their ideas about what affects pricing.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

D.06 Address people properly,

D.08 Make oral presentations,

F.03 Explain the concept of scarcity,

L.34 Explain factors affecting pricing decisions

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How Do Exchange Rates Work?

The purpose is to play the role of a foreign purchasing agent buying in another country who is to buy the products priced in foreign currency rates using American dollars. After all purchasing is completed we will compare the money spent by each group in terms of US dollars.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• F.05 Describe the nature of economics and economic activities,

• F.07 Explain the principles of supply and demand,

• F.27 Determine the impact of small business/entrepreneurship on market economics,

• G.01 Explain forms of financial exchange (cash, credit, debit, etc.),

• G.08 Explain legal responsibilities associated with use of money

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How To Handle Employees In A Small Business

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.06 Describe idea-generation methods,

• D.02 Apply effective listening skills,

• D.03 Use proper grammar and vocabulary,

• D.05 Explain the nature of effective verbal communications,

• D.11 Write informational messages

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Thirty Most Asked Questions About Small Business

An activity using questions to ask students about small business.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A:24 Use external resources to supplement entrepreneur’s expertise,

• A.31 Use creativity in business activities/decisions

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How People Use Economic Census Data

The U S Census publishes data on all aspects of the population that can provide information for all types of market research and business development projects. As a teacher you will want to encourage students to use this data to do the following.

• Gauge the competition

• Calculate market share

• Locate business markets

• Study business markets

• Locate distributors or resellers

• Site location

• Design sales territories and set sales quotas

• Evaluate investment opportunities

• Evaluate new business opportunities

• Enhance business opportunity presentations

• Public policy and statistics

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.24 Use external resources to supplement entrepreneur’s expertise,

• A.31 Use creativity in business activities/decisions,

• D.09 Explain the nature of written communications

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Franchising Know-How, Franchisor or Franchisee? What Does It Mean to You?

This activity was developed for publication in EntrepreNews & Views and was adapted from information on franchising available from the U S Small Business Administration. Teachers/instructors are hereby granted free permission to duplicate for use in the classroom.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

A.13 Describe external resources useful to entrepreneurs during concept development,

A.27 Explain the need for business systems and procedures,

A.31 Use creativity in business activities/decisions,

D.02 Apply effective listening skills,

D.03 Use proper grammar and vocabulary,

D.07 Handle telephone calls in a businesslike manner,

D.11 Write information messages,

D.13 Write persuasive messages

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Web Site - An Activity for Marketing and Business Education

An Activity for Marketing and Business Education

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.03 Assess global trends and opportunities

• A.11 Assess start-up requirements,

• A.28 Describe the use of operating procedures,

• D.05 Explain the nature of effective verbal communications,

• E.11 Demonstrate basic search skills on the Web,

• E.14 Communicate by computer,

• E.16 Operate computer-related hardware peripherals,

• E.19 Develop basic website

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Internet Advertising: The Wave of the Future

An Internet Advertising Activity

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.05 Explain the nature of effective verbal communications,

• L.22 Describe the elements of the promotional mix,

• L.29 Select sales-promotion options,

• L.32 Evaluate effectiveness of advertising

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Ethical Behavior Is Good Business

The Activity: Ask the class to from small groups of about 8 persons to work on ideas for ethical decision- making. Provide them with information about a business to use for the activity. This could be a local business, a business idea of your choice or theirs, or a business plan sample that they have been working with in the class.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.06 Describe idea-generation methods,

• A.11 Assess startup requirements,

• A.13 Describe external resources useful to entrepreneurs during concept development,

• A.25 Explain the complexity of business operations,

• A.31 Use creativity in business activities/decisions,

• B.01 Demonstrate honesty and integrity,

• B.09 Enlist others in working toward a shared visions,

• B.25 Develop tolerance for ambiguity,

• D.03 Use proper grammar and vocabulary,

• D.05 Explain the nature of effective verbal communications,

• D.08 Make oral presentations

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Planning for Reducing Risks

Activity: Planning for reducing risks in running a business while understanding that taking a calculated risk will produces profits.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.01 Explain the nature of effective communications,

• N.01 Describe types of business risks,

• N.02 Determine the ways that small businesses protect themselves against loss

This resource is part of the Entrepreneurship Learning Activities collection.

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Exclusive Rights

Activity: marketing and exclusive rights.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• D.01 Explain the nature of effective communications,

• F.30 Determine the impact of cultural and social environments on world trade,

• L.13 Describe the role of situation analysis in the marketing-planning process,

• L.20 Develop marketing plan,

• L.52 Prospect for customers,

• L.53 Plan strategies for meeting sales quotas,

• M.11 Select distribution channels,

• N.14 Explain legal issues affecting businesses

This resource is part of the Entrepreneurship Learning Activities collection.

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Lest We Forget

Entrepreneurs have been breaking new ground for many centuries. Their stories provide ideas about finding opportunities for both students and teachers. Meet some of these "giants" and learn how they conquered some of their challenges.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.01 Explain the need for entrepreneurial discover,

• D.09 Explain the nature of written communications

This resource is part of the Entrepreneurship Learning Activities collection.

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Entrepreneurship History: Success versus Failure

ACTIVITY: Each member of the class selects a different "entrepreneur in history" to research using the following questions as a guide to finding out what led to the success of the entrepreneur or inventor. Use the Internet to find background information on the selected entrepreneur, as well as the library.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.01 Explain the need for entrepreneurial discovery,

• A.02 Discuss entrepreneurial discovery process,

• A.03 Assess global trends and opportunities,

• B.12 Describe desirable entrepreneurial personality traits,

• B.15 Evaluate personal capabilities

This resource is part of the Entrepreneurship Learning Activities collection.

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Business Startup Simulation

A Business Startup Simulation.

The activity supports the Entrepreneurship Content Standards/Performance Indicators as follows:

• A.06 Describe idea-generation methods,

• A.11 Assess start-up requirements,

• A.18 Describe processes used to acquire adequate financial resources for venture creation/start-up,

• A.20 Explain factors to consider in determining a venture’s human-resource needs,

• A.26 Evaluate risk-taking opportunities,

• A.28 Describe the use of operating procedures,

• C.04 Explain opportunities for creating added value,

• D.01 Explain the nature of effective communications,

• D.03 Use proper grammar and vocabulary,

• D.05 Explain the nature of effective verbal communications,

• D.06 Address people properly,

• D.08 Make oral presentations,

• D.11 Write informational messages,

• D.14 Prepare simple written reports,

• E.02 Apply basic commands of operating system software,

• E.09 Use control panel components,

• E.14 Communicate by computer,

• F.02 Explain the factors of productions,

• F.10 Describe cot/benefit analysis,

• F.23 Assess factors affecting a business’ profit,

• I.03 Estimate cash-flow needs,

• I.04 Prepare estimated/projected balance sheet,

• J. 01 Develop a personnel organizational plan,

• K.01 Explain the nature of business records,

• K.09 Demonstrate writing/publishing applications,

• L.01 Explain methods to generate a product/service idea,

• L.12 Explain the concept of market and market identification,

• L.22 Describe the elements of the promotional mix,

• L.34 Explain factors affecting pricing decisions,

• M.05 Develop project plans,

• O.06 Forecast income/sales,

• O.08 Develop action plans,

• O.09 Develop business plan

This resource is part of the Entrepreneurship Learning Activities collection.

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