What makes a successful business?
All about Work:
Thursday 20th July (12:30)
Learning Intention: We are investigating why people need to work and learn about different types of work.
Success Criteria: I can:
Thank you for your input in our Discovery survey at the end of last term! Your ideas showed us that in the area of business, jobs and work, Grade 5/6 students are most interested in in learning about:
Let's start at the start... Why do people work?
Learning Intention: We are investigating why people need to work and learn about different types of work.
Success Criteria: I can:
- explain some reasons why people work
- list a variety of jobs
- categorise jobs according to industry
Thank you for your input in our Discovery survey at the end of last term! Your ideas showed us that in the area of business, jobs and work, Grade 5/6 students are most interested in in learning about:
- How to start a business.
- How businesses work.
- Stories of successful or fast-growing businesses, and how they got to be successful.
- What types of work people do, how they get jobs, and how much money people make.
Let's start at the start... Why do people work?
Listen while I read out the following statements, and move to a position in the room to show how much you agree or disagree:
- The happiest workers are those who earn lots of money.
- Work is boring.
- People doing dangerous jobs should get paid more.
- Volunteer work is not actually work.
- Some work is more important than other kinds of work.
- Unpaid work is easy work.
Work with your partner to categorise your jobs into the following industries:
Small group game: “What job am I?”
In random groups of 3-4 (made with icypole sticks), one student is nominated in each group and is secretly allocated a job by the other members of the group. The nominated student asks the group questions to determine which job they have been given. The student may ask questions like: "Is it an outdoors job?' "Is it in the Farming Industry?" The objective is to ask as few questions as possible before guessing the job.
How have jobs changed over time?
Thursday 20th July (2:20)
Learning Intention: We are looking at how jobs and work have changed over time, and comparing and contrasting the evolution of jobs.
Success Criteria: I can explain why jobs and work changes over time, and predict possible changes to jobs in the future.
Learning Intention: We are looking at how jobs and work have changed over time, and comparing and contrasting the evolution of jobs.
Success Criteria: I can explain why jobs and work changes over time, and predict possible changes to jobs in the future.
What do you know about how jobs and work have changed over time?
The FedEx Story:
Frederick W. Smith, the inventor of FedEx, got the idea for this company while he studied at Yale. In a 1965 term paper assignment (ie: a project), he observed that as society became more technological, large companies would need a faster, more dependable delivery system....hence, the overnight delivery system that FedEx offers. The best part is that his professor only gave him a C on his paper. I guess he could not see its million dollar potential!
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Fast forward to 2040... you will be 34/35 years old! In groups of 2-3 (different random groups made with the icypole sticks), you are going to pick a specific job or type of work and predict how it will evolve in the future. What different requirements, updates or changes will need to be made to keep up with our need for things to be quicker, more efficient and more accessible? Be prepared to share your predictions with the class. |
Interesting Inventions:
Monday 24th July
Learning Intention: We are investigating how businesses are created from an invention or idea.
Success Criteria: I can explain the problem or demand for an invention, and why I think it was a success.
Learning Intention: We are investigating how businesses are created from an invention or idea.
Success Criteria: I can explain the problem or demand for an invention, and why I think it was a success.
Key Vocabulary:
Creative Gadgets
Check out these interesting inventions!
For something to be successful there must be DEMAND for it. These gadgets have been invented to solve a problem or meet a need that is not being met. What do you think the problem was that inspired these inventions?
Million Dollar Inventions:
What about these next four inventions? Work with your partner to identify what you think the need or problem was that inspired the inventions, why you think they have been so successful, and how much you would pay for each item.
What makes a business successful?
Monday 31st July
Learning Intention: We are investigating what makes a good business.
Success Criteria: I can discuss what makes a business successful, and can define:
Learning Intention: We are investigating what makes a good business.
Success Criteria: I can discuss what makes a business successful, and can define:
- goods and services,
- supply and demand and
- marketing
Discuss some businesses we know about. What types of ‘goods and services’ do they supply?
Think about supply & demand - how do these impact on the success of a business?
Think about how business promote their goods & services - how does marketing impact on the success of a business?
Marketing: What you do in business when you try to convince people to want and to buy what you have to sell.
eg: pricing, branding, distribution, promotion / advertising, social media.
Marketing: What you do in business when you try to convince people to want and to buy what you have to sell.
eg: pricing, branding, distribution, promotion / advertising, social media.
WIth these words in the back of your mind: goods, services, supply, demand, marketing... what makes a business successful?
Understanding Key Vocabulary
Thursday 3rd August
Learning Intention: We are learning about the costs involved in a business and the meaning of business terminology.
Success Criteria: I can write a kid-friendly definition and create a non-linguistic representation of my word for the Discovery wall.
Learning Intention: We are learning about the costs involved in a business and the meaning of business terminology.
Success Criteria: I can write a kid-friendly definition and create a non-linguistic representation of my word for the Discovery wall.
Sticky note brainstorm: Return to the question... "what makes a business successful?"
Discuss:
Your task:
With a partner, you are going to investigate a word. You will have a small page to create a mini poster for our Discovery Wall. On your page you need to:
Words:
Marketing
Mark-up
Retail price
Cost price
Importer
Exporter
Profit
Revenue
Consumer
Employees
Goods
Services
Discuss:
- How do businesses make money?
- Think about Anthony Long's business as an example... Were Anthony and Cameron making any money to start with?
- How does a business start out?
- What types of ‘outgoings’ or 'expenses' does a business have?
Your task:
With a partner, you are going to investigate a word. You will have a small page to create a mini poster for our Discovery Wall. On your page you need to:
- Give a one sentence summary of the meaning, in words that the class will understand
- Create a non-linguistic (not words!) representation of your word.
Words:
Marketing
Mark-up
Retail price
Cost price
Importer
Exporter
Profit
Revenue
Consumer
Employees
Goods
Services
Ethical Choices
Monday 7th August
Learning Intention: We are learning to understand what it means to make ethical choices, both for consumers and businesses.
Success Criteria: I can identify if a consumer or business choice is ethical.
Learning Intention: We are learning to understand what it means to make ethical choices, both for consumers and businesses.
Success Criteria: I can identify if a consumer or business choice is ethical.
Share vocabulary from last week.
Discuss the meaning of ‘consumer’.
Discuss the meaning of the word ‘ethical’.
Watch as a class:
Discuss the meaning of ‘consumer’.
- Are we/our families all ‘consumers’ of good and services?
- What types of good and service do we purchase/access?
Discuss the meaning of the word ‘ethical’.
- What types of ethical choices do you and your family make?
- It may be as simple as using re-usable shopping bags rather than the plastic ones.
Watch as a class:
What do we know about businesses making ethical or unethical business choices?
Let's look at the Shop Ethical website together.
With a partner, explore the "5 Principles" page.
You need to summarise each of the 5 principles and record them in your Discovery book.
Finished? Go to The Guide page and explore specific goods and services categories and brands.
Your challenge: Find one brand that you know that is deemed as ethical, and one that is deemed as unethical. Be prepared to share with the class, particularly focusing on why they have been deemed ‘ethical’ or why the website encourages us to avoid that brand.
What's in a logo?
Thursday 10th August
Learning Intention: We are learning to understand what makes an effective logo.
Success Criteria: I can identify effective logos and explain why it is effective.
Learning Intention: We are learning to understand what makes an effective logo.
Success Criteria: I can identify effective logos and explain why it is effective.
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We will also use this website to read about more brands with hidden meanings in their logos.
We will read a little more on this website about what makes a logo effective.
Your task: Independently or with a partner, explore the logos from the stores in either Waurn Ponds Shopping Centre or Westfield Geelong.
Choose at least 4 logos to annotate and add to our class display. Your need to assess how effective you think the logo is, according to what we have just learnt.
THINK: Is the logo...
But also... do you like it? Do you think it looks good?
Choose at least 4 logos to annotate and add to our class display. Your need to assess how effective you think the logo is, according to what we have just learnt.
THINK: Is the logo...
- Simple?
- Memorable?
- Is it easy to recognise and remember?
- Does it have something a bit unique or unexpected to make it stand out?
- Timeless?
- Versatile?
- Appropriate?
- Does it have a relevant meaning for the brand?
- Does the overall "vibe" of the logo fit in with what you know about the company?
But also... do you like it? Do you think it looks good?
How to pitch a product:
Wednesday 16th August:
Learning Intention: We are learning to understand what it means to pitch a product.
Success Criteria: I can discuss what makes an effective pitch.
Learning Intention: We are learning to understand what it means to pitch a product.
Success Criteria: I can discuss what makes an effective pitch.
You are going to be creating an invention or business and pitching it to the "Sharks"... just like in Shark Tank!
Shark Tank Project:
Here are some guidelines to help you work out your finances:
COST PER UNIT (Cost of each item, or of one hour of your service)
1. Look at similar products or services in the market to estimate your cost. (Remember the price of the item will already be market up - so estimate the cost price.)
2. You then need to list your expenses and divide your total expenses by the number of products you will make (or the number of hours you will provide your service).
So for a product:
cost per item = total expenses divided by the number of products you will make
OR for a service:
cost of an hour of service - total expenses divided by the number of hours you will work.
How to work out your total expenses?
Think about how you are going to sell your product, and list the expenses involved.
Costs for property:
Warehouse: $15000 per year or $1250 per month
Small shop: $19000 per year or $1500 per month
Do you need other items, such as:
-computers
-furniture
-website designer
-stationery
-brochures
-employees
Advertising:
TV ad: $200 (of peak) $500 peak
Radio ad $20 per play
Newspaper ad: $50 small $120 big
Social media: free! But you might need to pay an employee to work on this for you. How much would you charge them? Remember to make ethical decisions!