Whole class Learning Objectives:
1. Students will successfully run the business for two weeks.
2. Students will keep careful records of the number of units sold each day and the amount of money received. Materials:
Products to be sold
Posters for advertisement (if desired) Procedures:
This is the most "fun" part of the project for the students. After receiving the loan from the administration, they must put their business plan into action for two weeks, seeking to maximize their profits! As mentioned in the introduction, this is an ideal time to begin a new unit in class or to review old information, as the actual running of the business should be during recess time/in the mornings or afternoons before/after school, at athletic events, or whenever the class has decided to sell. This leaves classtime free for new information.
Here are several pointers that will make running the project easier and analyzing the results more meaningful:
Students tend to get "caught up" in the selling process and do not tend to keep good records. It is helpful to have them sell in twos or threes, where one person's sole responsibility is simply to record the number of units sold as they are being sold (i.e. tick marks on a piece of paper).
Another student in the team should have as their sole responsibility handling the money and counting it before and after. Periodically, some students should have as their responsibility to "make the till" -- ensuring that the amount of money in the cash box reflects the record of the number of units sold.
You may wish to empty the cash box into a safe location at the end of every day until the end of the project, where the students will actually count the cash.
Having a pre-established rotation of duties is helpful in ensuring that every student actually participates in a meaningful manner.
Take lots of pictures! This is an excellent opportunity to show parents what the math curriculum in action looks like.