Dragons Den

Notes Continued.

LINK Big Mac's and Currency

Please hand in your Booklets and Business Reflections

Wed

Notes and discussion on International Business.

Questions page 1 and 2 page 112

Tue Dec 17

Great work on the Pitches yesterday.

Today we are moving onto our next unit.  International business.  That is businesses that operate in more than one country. 

A few key terms. 

International
Off Shore
Supply Chain

Questions.  Look at the following LINK


1.  Why did Target fail in Canada?  (several reasons)

2. Why did Home Depot Fail in China?

3. Why did Walmart fail in Germany?

4. Why did Starbucks in Australia?

5. What did Mattel/Barbie try in China and why did if fail?

Remember PITCH EVENT MONDAY.

Start to talk about international and E-business. 

I am away on a field trip today.  Here is your assignment.  It is due next Wednesday after the Pitch event.  

Project Enterprise Post Reflection

The following questions will help guide you in explaining what you learned and experienced during the business projects.  The total will be out of 25 marks (5 marks for each question). Please answer in full sentences but you may use diagrams and numbers if they make sense in your answers.  You may want to include information from the Pitch event too. Good luck.  

Please answer on a Separate Paper.  

1. When you first started your social enterprise/business, what were some of the challenges you faced?  (Were they group related? Personal, not sure what to do? etc)

2. Was the project the same in the end as you expected in the beginning?  Explain. If not, how was it different?

3. What were some mistakes that you and your group made along the way (we all make mistakes, they are a chance to learn)? How would you handle these mistakes differently if you could go back and change things?

4. What are some things that you learned from this project?

5. How will you expand or use this learning in your future?

Today we will be talking about press releases and you are to write a press release for your business  and then post it on this site.  If you can't post it, send it to me and I will post it. 

Resources : Youtube 

Examples

Sample Furniture 

Template and Instructions

Dragons Den

Ques 5-9 on page 374

Today we are going to start with a video on Lousy Labels.

Questions

1. Why do companies use terms such as 'Natural' and 'Organic' when describing their product?
2. Is it legal for companies to say a product is 'natural' even if it mostly isn't?
3. Pick a product (preferably one that you actually use) that is 'natural'.  Research to see how 'natural/or organic' it is.  Explain what you find or don't find.

Nov 26

Dragons Den

Balance Sheet Equation: Assets = Liabilities + Owner Equity  (should always equal)

Questions.  Read Pages 280-284

1. What does Owners Equity mean?

2. What is the Balance Sheet Equation?

3. What does Liquidity mean?

4. List and briefly explain all of the steps to create a balance sheet.

Read Pages 285-288

5. What is an Income Statement?

6. Briefly explain the steps in setting up an income statement.

Activity (Module 5)

Vocabulary: Expenses, Revenue, Profit= Total Revenue -Total Expenses, Price and Break Even Point

CHALLENGE:

You are a business consultant.  You are to determine the best price to sell the following product for.  It is a 'hand crafted' key chain made with genuine leather and a individual wooden bead with a protective coating.  Keep in mind all expenses, (material, shipping, labour time) as well at the break even point.  (how many do they have to sell).

Hint: you can search Google or Etsy for ideas from similar products or Amazon or Michael's to get an idea on the cost of materials.




Now work through pages 12-17

Watch Video on Marketing Strategies

Questions,

Explain some strategies that marketers use to increase sales in stores?  (use several examples)

Please have product ideas by Monday

Dragons Den


Next, complete the following assignment (as an INDIVIDUAL) on Prototypes. 
USE This LINK

1. What is a prototype?
2. Pick 2 of the prototypes on the link.  Briefly describe them.  What design features do they include to make it easier for humans to use/how will it be usable and useful?
3. For the 2 prototypes that you picked, what materials will they need to be made?  What types of barriers or difficulties might the companies face getting these products to market (ready to sell to customers)?

De  'Cide'  What do you think 'cide' means

Oppourtunity Cost:  The cost of a decision.

Video

The Decision Making Process is:

1. Identify the problem
2. Gather information and list possible alternatives
3. Consider consequences (oppourtuinty cost) of the decision
4. Select the best course of action
5. Evaluate the results.

Dragons Den

Start Project booklets.  

Go to the this LINK.  It is a list of 50 business ideas for teens.  Pick one of the business ideas and imagine that you are going to start that business or someone you know is going to.  Using your knowledge of business, work through the following questions with that business in mind.  Use as many terms that you know that are relevant in your answers.  Show what you know in your own words.  Not cut and paste.  Everyone does their own assignment.   Good luck!

1. What is the business idea?
2. What 'branding' would you do with that business or suggest someone else do? (you do not need to have a full brand plan but talk about it in general as it relates to the business)
3. What form of business ownership would be best for that business?
4. What would a good money plan be: where to get start up capital? What type of costs would be involved? Optional : Estimate a break-even point.
5. Briefly explain the business using each of the 4 p's.
6. Would there need to be employees? Why or why not?  If yes, what management style would work best? What qualities would you look for in hiring?
(7). This will only apply to some businesses: What production methods would work best for making the products?

Dragons Den

Stocks and stock market


1. Forward the following link to them:
https://www.howthemarketworks.com/register/164386

2. Register and Join:
Ask them to Register to howthemarketworks.com and once they log-in, they can go to Join Contests, and look up your contest: Entmark10 via the search bar.

Now start trading.  

Oct 15-21

Worksheets on simple and compound interest. 

Budgeting worksheets.

Oct 11

Sorry for being away, here is today's assignment.

Here is the LINK

Start by looking at all 25 ads.  

Questions

1. Are there any commonalities between the ads or are they all unique?  Why do you say this?  

2. There are a large number of PSA ads here. What does PSA mean?

3. With the PSA ads, what are some of the strategies used to get and maintain the audiences attention?  Use specific examples from the 100.  

4. Which of the PSA ads was able to best gain your attention? Why

5. Of the traditional (for profit) ads, are there any that don't work well/aren't good ads?  Explain which one(s) and why.  

6. A) Pick 5 of the ads. (different than the ones you have already talked about in the questions above).  Name each one and explain, using demographics, who the target market is/are. 

B) For each ad, explain how they gain the customer's attention. In other words, what strategies are they using?  Humour, shock etc.  Explain your answer.  

6).  Which ad way you favorite?  Why?

Next, you will need to come up with a name and logo for your company.  A slogan would help as well.  

Oct 10

Video and commercials on 'Buzz' and Word of Mouth Marketing. 

Questions

1. What is a Knock off product?

2. What is word of mouth marketing?

3. Why is Word of Mouth 'BUZZ' important valuable for businesses?

4. What are some strategies for building 'Buzz'?

Oct 9

Notes on Goals of Advertising

Oct 8

Notes on goals of advertising

Time for projects

Due tomorrow

We are going to carry on with Marketing

Notes on Print Ads

NEXT (mini) PROJECT

Next, you are to create an ad (with a partner if you wish).  It can be a static (picture ad) on the computer or on paper (must be neat and have colour).  With the ad, include a brief description of the following about the ad:

Where will your ad be placed?  TV, Social Media, Out of home, Direct to home, Magazines, Newspapers, Banner Ads, Before movies etc. 

Who is the target market for the ad?  Be specific. What gender, what ages, what income level, Life cycle stage, where do they live? etc

Then comment on each of the following about your ad:
Reach:
Frequency:
Selectivity:
Durability:
Lead-Time:
Mechanical Requirements:
Clutter:
Costs:

Due Wednesday

Thursday and Friday

Marketing questions in textbook.

pg 59, Que 5-9

Invention
Innovation
(How inventions/innovations can have both positive and negative impacts)

An example for each of the following.
Changing how the product is used
Changing the package
Changing the Marketing Strategy
Changing the Distribution Process
Changing the Design
Changing the Manufacturing Process

Human Resourses
Skilled Labour
Unskilled Labour
employee turnover

Salary
Salary plus Commission
Hourly wages
Commission
Incentive Bonus
Performance Pay
Fee for Service
Stock Options
Dragons Den

How to deal with Customer Complaints?
LEARN
Listen,
Empathize
Apologize
React
Now

Leader vs Manager
Democratic leader
Autocratic
Laissez faire

Raw Material
Processing
Grading
Quality Control
Labour
Capital.

Economies of Scale
Dis-economies of Scale

Natural Resources
Raw Materials
Labour
Capital
Information
Management
Purchasing
Processing
Quality Control

Production Cost 
Landed Cost

Customer Complaints. - LISTEN. Listen carefully to your customer. Don't interrupt or tell the customer to calm down, this will only ignite the anger.  - EMPATHIZE. Feel the pain of the customer, and tell him/her that you can understand how they feel.  - APOLOGIZE. Apologize to the customer, even if you feel that you have no part in the problem.  - REACT. Decide what you will do to resolve the problem, and tell this to the customer.  - NOW! Do not delay. Take immediate action!  Read pages 345-356. (Can be done in partners)  For the "Impact of Innovation" pages 350-356, for each subtitle, find 1-2 examples of how a product has been 'Innovated'. Changing how the product is used Changing the package Changing the Marketing Strategy Changing the Distribution Process Changing the Design Changing the Manufacturing Process

Dragons Den,

Watch video at this LINK as a class

1. Name 2 other inventions that have a 'dark side' and explain why you made each of your choices.

Please read the following LINK for the next question.

2. Since certain waste can be dangerous for thousands or millions of years, how are they proposing to warn future generations of the dangers? Is this a good idea?

3. Can you think of an invention that has changed the world for the better without having any (or very few) negative impacts.

Introduction to Human Resources

Discuss Bucketlist and keeping good employees

Terms for today:

Human Resources
Skilled Labour
Unskilled Labour
employee turnover

ASSIGNMENT: For completion:  Define the terms on Compensation Types (pages 188-191)


Talk on Sears, a failure of Management to adapt to a changing market.


Next,

Using this LINK, answer the following questions.

1. In your own words, briefly summarize the 3 reasons (there are more) that Sears Failed as a company that are explained here.

Questions from yesterdays notes and video.

2.  What management style is best? or is a combination best? explain with examples

3.  Read pages 220-221.  Explain some advantages and disadvantages of using teams. 

4. Give an example when it would be advantageous to have teams in a job/company. 

Sept 17

Dragons Den

Today we are going to move on from Production to Management (functions of business)

Notes on Management/Leadership.  

Video "How Bad is your Boss"

Today you will be starting to look at one of the Functions of Business: Production

Definitions to know: Pages 155-165

Natural Resources
Raw Materials
Labour
Capital
Information
Management
Purchasing
Processing
Quality Control

Next, read the section on improving productivity on pages 166-171.

For this scenario, you may work in partners. 

You started a small T shirt company where you print great designs for T shirts on your printer, press them on shirts you buy at a local discount store, then sell them on-line.  You have decided to start a formalized business.  You have acquired a business partner who is bringing a large amount of capital to your business.  Explain how you will scale your business.  Be specific, where will you locate? What type of machinery will you use? Any management strategies will you use? Point form with explanations will be fine.  


Pick one products.  On YouTube, look up How they are made.  Can also search for How its Made and pick a products from the list.  After watching the video (most are about 5 min), answer the following

1. What 'raw materials' are used?
2. How are they processed?
3. Is there any grading?
4. What quality controls are in place?
5. What type of labour is used (skilled or unskilled) and is it intensive or non-intensive?
6. What are the Capital cost like, very high, high, low, very low.

Sept 12

Dragons Den

Read Pages 90-105 (TEXTBOOK) and answer the following questions.

1. What does Duty to Report mean?
2.. What is 'duty to accommodate' for businesses mean?
3. What does pay equity mean?
4. Explain what Fair Trade means.

Sept 11

TODAY'S Assignment

Video on Business Scandals.

Read Pages 83-89 in the New Textbook. 

Answer question 1,5 and 7.

Please Know the following terms.  

Joint Venture : When two or more business entities come together to achieve a common purpose, it’s called a joint venture.  Usually R&D (research and development) Ex, the new Toyota Supra made with both Toyota and BMW technology.  



International Franchise: A franchise that extends to multiple countries.  

Strategic Alliance: When two companies choose to work together to sell their goods and
products. 
 

Mergers: when two companies merge into one larger company to make it more competitive.  Example:


Multinational Corporations. Corporations that operate in multiple countries.  The 'Parent Company' may control many different brands under the same company.