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Outline a Business Plan

Students brainstorm ideas for a new product or service and draw a prototype or draft an outline explaining how it will work. Then they write a general business plan explaining how they will make, market and deliver their idea to customers.

PROCESS:

  1. As a class, outline the process Robert Pasin went through as he created the Radio Flyer wagon. Guide students to recognize that every decision he made, regardless of how big it might have seemed, played an important part in his success.
  2. Inform students that all business owners undergo a similar process when they create a new product or envision a new service. They begin with an idea. If it's a product, they must design a prototype to show what it will look like. If it's a service, they must draft an outline to explain how it will work. Then they must find the best ways to make, market and deliver their ideas. 
  3. Divide the class into small groups. Give groups time to brainstorm ideas for a new product or service. Have them draw a prototype of their product or draft a detailed outline explaining how their service works.
  4. Challenge students to write a general business plan explaining how they will make, market and deliver their new product or service.

ASSESSMENT: 

Invite groups to share their business plans with the class. Challenge classmates to identify key choices each group made. Discuss the impact these choices could have on the success or failure of each new product or service.

CUSTOMIZE THE LESSON:    

Grades 3-4:
Instruct groups to identify a new product and draw a prototype. Have them come up with a creative name and logo for their product. Then challenge them to write a basic business outline in which they identify materials needed to make their product, explain how they will build it, identify most likely customers and describe how they will market their product to these potential customers.

Grades 5-6:
Instruct groups to identify a new product and draw a prototype. Encourage them to come up with a creative name and logo for their product. Then have students write a basic business outline in which they explain how they will make, market and deliver their product. Challenge students to identify the number of employees needed in their operation and to draft a detailed list of benefits the company will provide for its employees.

Grades 7-8:
Instruct groups to identify a new product or service and to draw a prototype or draft a detailed outline as needed. Encourage them to come up with a creative name and logo for their idea. Then have students write a detailed business outline in which they explain how they will make, market and deliver their product. Challenge students to include details such as the number of employees, employee benefits and whether or not employees will belong to a union. Instruct them to also identify where the company is located and to explain why this location was selected as the base of operations.

Grades 9-10:
Instruct groups to identify a new product or service and to draw a prototype or draft a detailed outline as needed. Encourage them to come up with a creative name and logo for their idea. Then have students write a detailed business outline in which they explain how they will make, market and deliver their product. Instruct students to include details such as company location, the number of employees, employee benefits and whether or not employees will belong to a union. Challenge them to explain the impact labor unions could have on their operation.