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2. produce and market your own product?

3. provide a service?

4. put your talents and skills to work?

What business did you decide on?

Now draw up your own business plan for your business in rough .

You must remember to focus on the four business basics:

Business Plan
1. What do I intend doing?
2. How do I intend doing it?
3. When do I intend doing it?
4. Why is my scheme sure to succeed?

Activity 5:

The final business plan

[lo 4.1.1, 4.6.2]

You now need to compile a final business plan , using the rough draft as a guide.

Why a business plan is vital

If you need to borrow money to get started, you will be asked to present your business plan.

It will also keep you focused on your goals.

Business success needs a combination of imagination and initiative, hard work and discipline. Reveal these features in your business plan.

Take note before you start:

This assignment will be assessed by your educator.

The task consists of FOUR sections with a separate CHECKLIST for each.

Do each section on a separate page.

Bind the pages in a file, folder or plastic sleeve before handing the project in.

Your rough work must also be handed in.

Design a professional-looking FRONT PAGE

Name of business

Personal information of the entrepreneur (name, address and telephone number)

Logo (emblem/slogan)

Date presented

List of contents: headings and pages must be numbered.

Front Page

CHECKLIST Self Educator
The name of the business is catchy, but meaningful.
The personal information has been given.
The logo is eye-catching and appropriate.
The headings and pages are numbered.
The appearance is professional and neat.
Spelling has been checked
Punctuation has been checked

Summarise the important FEATURES of your venture.

Describe your product or service. (± 10 words)

Explain why your venture will be successful. (± 3 short sentences)

State your short-term goal. (± 10 words)

State your long-term goal. (± 10 words)

Final business plan

Marketing plan: Advertising your business

Design an attractive FLYER or POSTER

CHECKLIST Self Educator
It is easy-to-read
It is eye-catching
It communicates the message
Illustrations are meaningful
Layout is well-planned

[LO 4.5.1, 4.6.2, 4.6.3]

Financial Plan

Where are you going to get money to start? (± 10 words)

How will you spend this money?

  1. List the items on which you need to spend money to run your business.
Percentage needed by this item

B Draw a pie-chart showing how you are going to divide the money in order to run your business profitably.

[LO 4.1.1]

CHECKLIST Self Educator
Source of funds given.
List of items given
Chart explains use of funds

Assessment

LO 3
Reading and ViewingThe learner will be able to read and view for informa­tion and enjoyment, and respond critically to the aesthetic, cultural and emotional values in texts
We know this when the learner:
3.8 shows some understanding of how reference books work:
  • uses contents page and index to find information;
3.8.2 uses a dictionary and a simple thesaurus.
LO 4
WritingThe learner will be able to write different kinds of factual and imaginative texts for a wide range of purposes
We know this when the learner:
  • writes to communicate information:
4.1.1 writes a short explanation of how or why something happens (e.g. how an electric circuit works);
  • writes one or two paragraphs about the advantages and disadvantages of something (e.g. cars as a from of transport);
  • uses information from a survey to write a report (including heading, introduction, how the research was carried out, the results, and recommendations);
  • designs media texts:
4.5.1 designs a simple advertisement or pamphlet;
  • treats writing as a process.
4.6.1 drafts, reads and discusses own writing critically;
  • uses feedback to revise, edit and rewrite;
  • uses knowledge of grammar, spelling, etc., to edit.

Memorandum

ACTIVITY 1:

This is all about an entrepreneur. Have a class discussion about finances in a country and how being an entrepreneur can help a family. See how many novel ideas they can come up with e.g. making rosettes for horse and swimming galas; transforming a yard and garage into a place for holding birthday parties.

ACTIVITY 2:

Go through each item carefully and then see how many novel ideas the class can put together. Let them share their ideas with the class. A prize for the most innovative and resourceful? (Here is a good time to study words like ‘resourceful’, ‘innovative’, ‘responsible’, re-cycling’ etc – entrepreneurial words).

ACTIVITY 3:

Go through the fur business basics and see how accurately they answer. Check for spelling and language errors. Explain that if a space is small, that errors stand out more!

ACTIVITY 4:

Now let them do the next ACTIVITY really well as a project. Give them reasonable time but explain that this is the ROUGH DRAFT which also needs to be handed in to see how involved they were and how much preparation went into the project.

ACTIVITY 5:

The final copy of the front page must show signs of editing and thoroughness. Put the best ideas on the board and discuss them as a class. Make sue they have done all that was asked of them. Explain the value of following instructions clearly and well.

FEATURES OF VENTURE : The summary must be just that – a brief, clear, correct synopsis.

MARKETING PLAN : These can be placed in the classroom for peer judgement. The really good should be framed (laminated or glass-framed)! Go over the evaluation chart with them first before they start.

FINANCIAL PLAN : Look at all the possibilities of ways to raise money as a class. Make a list. Explain about the different graphs to use to explain information.

Questions & Answers

wat improvement do economic has with our life
Aminata Reply
it help us how to use our limited resources to satisfy our unlimited wants
Pagnol
Economics is the social Science in which we study how scarce resources are allocated for the betterment of human being.
Ali Reply
what is equilibrium point
Happiness Reply
where price and quantity demanded meet
Pagnol
is the point where price an quantity demanded meet
Aminata
why do consumer demand curve tend to move downward slope
Aminata
What is monopoly
Ezekiel Reply
what is economics
BUKENYA Reply
economics us behavior. Of people, nations, markets etc. It has much to do with reactions. watch MSNBC. Bloomberg. everyday they talk about how the markets react to an piece of news, legislation, interest rates etc. Interesting volatile stuff
TOM
but, it also react with science
ezhilarasan
economic is a science with study's the behavior of people,market and price
Bertilla
it's a science which study the behavior of people ,market n price
Bertilla
What is opportunity cost?
Junior
opp. cost~a benefit, profit or value of something that must be given up to acquire or achieve something else
Kim
or something that you foregone
Kim
who is the father of economic
Yirtutey Reply
Adam smith
shaikh
modern father is Adam smith
Bilal
Adam smith
Nazifi
what is backward bend
Florence Reply
It's a curve that reverses direction
Ajibade
Good evening friends
Kojo
Evening
Ajibade
evening
Emmanuel
hi
Lawrence
Any Nigerian lady to meet here Well on eco ground
Suleiman
Good morning ooo I hope everyone is fine
Kojo
hello
James
yeah
Kojo
how?
Kojo
how time
James
cool
Kojo
Ok
James
Good morning
Junior
morning all
Emeka
Morning
Ajibade
😶g
Maaz
moaz taha u r egyptian aren't u ?
Marwa
marwa no
Maaz
how economic effect the Market
Abdikarem
what is the difference between statistic and statistics?
Shafiu
it can can be described as when the demand is insufficient
Amaan Reply
high Dublin divino through Higginbotham
Shubham Reply
How does exchange rate affect the demand and supply?
austine
You mean demand and supply of currency ?
Jahangir
Hello
Hann
Hi
Jahangir
Am debby
Hann
am jahangir
Jahangir
how are you
Ogunsola
I am All fine Wbu ?
Jahangir
doing great
Ogunsola
Hw r u all
Mudassar
Am gud
Hann
Gd
Mudassar
Ogunsola
are you help for your country of economy leavel
Mutha
hi
Hammed
Hello
Assan
hi
Pranshi
Hello
Kamal
hi
Pranshi
hi
Abbas
hi
Abdirazak
ki sah botine
Neyshawn
hi
Nasir
Hello Economist
Nasir
hello
Victor
Hie... may anyone give me examples of countries that successfully implemented import substitution industrialisation.
Thabo
Nigeria
Junior
hey I'm emma from Uganda
niwagaba
Hello
Abraham
What is the difference between Demand and Quantity Demanded?
Weedh
Demand refers to how much a product is desired by buyer mean while quantity demanded refers to the amount of product a buyer is willing to buy at a certain price.
Junior
Good evening
Ajibade
Evening
Junior
evening
Ogunsola
someone wat is d textbook to read for banking and finance course
ayomide
Evening
Anjorin
Hw r u doing
Faku
yh
Benj
I'm good, u?
Anjorin
demand is the various quantity of goods or services a consumer is Willing and able to buy at a particular price over s given period of time while quantity demanded is the amount of goods or services being paid for
Florence
Good
Awudu
1.it allows producers to learn and invent 2.it allows agent to take advantage of economic scale 3.it allow agents to focus in areas of
oyebola Reply
can someone explain the motive of money to me?
Alemogho Reply
ask the question you don't know
ojo
opportunity cost
Sylvo
the motive of money is to pay for goods or services. it's also for transaction purposes bet it ordinary or unforseen
Silke
Money helps to reduce our scarcity problems. It can satisfy your wants to an extent
Okwori
transactive motive
Aminata
money help as a store of value for future uses
Pagnol
it also serve as a medium of exchange
Pagnol
How dose economics use science methods to explains it problems
Edmond Reply
according to Jhon Robinson the main problem of economics is what to produce? how to produce? whom to produce? economics tries to solve these problem scientifically by using its theories which are scientific in nature,basically micro and macro theories which just explain what the problem is...
Lavkesh
and now the solving techinique is also changed. only theories or its matematical +statistical version is not sufficient so the economist had developed Econometrics which includes economic theory+mathematical economics+statistics, for solving economic problem. This method treats economics as a pure
Lavkesh
..pure science so this technique is based on pure scientific methods.
Lavkesh
Economics is the scientific study of human behavior so there for science is used to solve economics problems using economics theories
Florence
economic is not higly subject of taminadu ...
Mutha
measurement of elasticity of demand
John Reply
Price elasticity of demand= Percentage change in quantity demanded/ Percentage change in price
Jale
For example, suppose that a 10 percent increase in the price of an ice-cream cone causes the amount of ice cream you buy to fall by 20 percent. We calculate your elasticity of demand as
Jale
Price elasticity of demand =20 percent /10 percent = 2
Jale
In this example, the elasticity is 2, reflecting that the change in the quantity demanded is proportionately twice as large as the change in the price.
Jale
what is economic
Samuel Reply
economics is a social science that studies the relationship of human behavior between ends and scare...
Lawrence
Why is economics as a subject is so important to human being?
austine
it's significant in study of managing available resources to satisfy human needs and wants
mohamed
economics is the science of wealth
Aamir
it is also said that it is the science of scarcity
Aamir
why study economic
Neo
Economic helps to meet our needs and wants nd to make choices.
Abraham
careers or jobs associated with economics
Neo
Economics is more than choices, scarcity, resources etc. It has a lot to do with psychology, social psychology. Understand motivation for consumer decisons.
TOM
okey
Neo
I what to study economic understand education what subject will I take in my jamb
DIRIOHA
English.mathematics.economics and one other social science subject
Ogunsola
economic is life start to end
Mutha
Plz help in lectures job for economics
Mudassar
acc to robbin . "Economics is a science that studies human behaviour as a relationship between scarce means and ends which have alternative uses"
Jahangir
Economics is important to man "human wants are insatiable
Hann
pleas explain circular flow of income
Eagle
what is economic growth
Samuel
Economic growth is an increase in the real output leading to a growth or a rise in the nations gdp.
Charles
Economics is the study of wealth or money and it's an economic activity which has almost three terms divided into them, production consumption and Distribution of wealth.
Zahid
Economics is the study of wealth or money and it's an economic activity which has almost three terms divided into them, production consumption and Distribution of goods and services.
Zahid
plz what is econometrix
saheed
Econometrics is the Mathematical/Statistical Representation of economic systems we analyze theoretically and empirically
Jason
How does commercial banks create credit
Penda Reply
While the American heart association suggests that meditation might be used in conjunction with more traditional treatments as a way to manage hypertension
Beverly Reply
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Source:  OpenStax, English first additional language grade 8. OpenStax CNX. Sep 11, 2009 Download for free at http://cnx.org/content/col11042/1.1
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