Preparations
- Confirm with the teacher that there are customers coming on the third day
- Line up a bank that borrows 10 BizEuros per time.
- Line up a store that sells yarn, bags and price tags
Materials
Yarn Bags Price Tags
Vocabulary
Bank - Interest Production line - Handiwork
Sheets
Share prices Worksheet from day 2 Cost/expense calculation Investor versus bank (optional)
Role of the teacher- Acts as the banker
- Acts as the retailer
1. Review (5-10 minutes)
- Almost everything works as a company
- Shares represent ownership of the company
- Income expenses = profit (or loss)
- Employees have several functions in a company (review of functions and mottos)
- A product design requires creative thinking
- Employees must cooperate for success
2. Today (2 minutes)
- Learn that if you have money you can lend from a bank.
- Learn how you must price products.
- You team will make as many bracelets as possible to sell on the Marketing Day.
3. Update of the stock exchange (5-10 minutes)
- The value of all shares falls to eight as a result of uncertainty amongst investors concerning the friendship bracelet market (read the press bulletin on page 11 of the Instruction Book).
4. Todays money (10-15 minute)
How does the bank work?
- Yesterday you have collected money by selling shares to an investor.
- Today you can lend money from the bank, but you must pay 10% interest.
- If you have money then you can lend from the bank by 10 BE.
How much money do you need today?
- Supplies, namely yarn, bags and price tags (3-7 BE).
- Salaries and rent (6-8 BE).
- You need 9-15 BE in total.
5. Producing (40-60 min)
- There are several ways to make manufacture.
- Production line: a product is made in a certain order by several persons. Every person has their own task and always does the same (for example: making shoes).
- Production is a profession. You must work carefully. In order to not waste money it is important that you choose well what exactly you need to have to make a bracelet.
- Handiwork: one person makes the complete product (for example: making pizzas in a small shop).
- How many bracelets do you think that your team can make in the agreed time and how many do you think you can sell?
- The production manager buys the supplies (yarn, bags and price tags).
- The the team goes to work on making the friendship bracelets.
6. Determining the price
- The price must be higher than the cost to make a bracelet.
- Price x Quanity = Income
- The expenses of the four days is about 50 BE.
7. Rounding off (10-15 minutes)
Pay employees, rent and interest
Teams pay salaries, rent and interest if they have lent money.
The marketing manager and sales manager must reflect about how they can attract purchases for the Big Sale on Day 3
Worksheet Day 2
Show the students how to fill in the worksheet from Day 2.
Review
You can lend money from the bank for your company, but you must repay the loan and pay interest.
Production line versus hand work.
The price of your product must be higher than the costs (expenses).
Price x Quantity = Income
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