WAYMAKER INTRODUCTION TO BUSINESS

Additional In-Class Activities

Waymaker Introduction to Business

In-Class Assignments
Instructor Note:
Instructor Note: Sample assignments and activities are provided below. Because they are openly
licensed, you may use them as is, modify them, or use something completely different in your classes.

CONTENTS

Module 1: Role of Business

In-Class Team Assignment: External Stakeholders

Module 2: Economics
In-Class Team Assignment: Supply and Demand

Module 4: Financial Markets and System

In-Class Assignment: Deficit and Debt Directions

Module 6: Business Ethics and Corporate Social Responsibility

Instructor Resource for In-Class Assignment: Ethical Dilemmas
In-Class Team Assignment: Ethical Dilemmas

Module 11: Teamwork and Communication

In-Class Assignment: What You Heard Is Not What I Said

Modules 9, 10, 11: One Owner

In-Class Team Assignment: One Owner, Many Hats

Module 12: Managing Processes

In-Class Assignment: Build a Better Mousetrap

Module 13: Marketing Function

In-Class Assignment: Choosing a Brand Name

Module 15: Human Resource Management

Instructor Resource for In-Class Assignment: “The Layoff”
In-Class Assignment: “The Layoff”
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 16: Accounting & Finance

Instructor Resource for In-Class Assignment: Go with the Flo
In-Class Assignment: Go with the Flo
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 1: Role of Business

Recommended Placement: Module 1: Role of Business

In-Class Team Assignment: External Stakeholders

Instructions

Divide students into small groups. Each group will complete the following and then report to
the class.

1. Identify a business with which everyone in the group is familiar. This can be a
local business or a national chain.

2. For the selected business, identify at least four external stakeholders. Be as

specific as possible.

3. For each external stakeholder, consider how it would be impacted by:

a. The rapid expansion of the business to include new markets or new

products

b. A downturn in the economy that would negatively affect the company’s

revenues

After all of the groups have presented, conduct a general debrief about how the health of a
single business can have an impact on the larger community and economy. Ask students what
they learned from the activity and how it may have changed the way they view business in
general.

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: External Stakeholders. Authored by: Linda S. Williams. Provided by: Tidewater
Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
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Module 2: Economics
Recommended Placement: Module 2: Economic Environment

In-Class Team Assignment: Supply and Demand

Note: This activity should be assigned at the end of one class period and completed during the next class
period.

Instructions
After students have completed their readings and study of supply and demand, use this activity as a self-
check for their understanding of the concepts. At the conclusion of the class period in which you have
discussed supply and demand, provide each student with ONE of the twelve scenarios on the worksheet
linked below. Multiple students may receive the same topic, which is fine. Explain to the students that
before the next class period they will read an article, and then, based on the scenario and article, they
will bring the following information back to share with the class:

OPTION: Have students draw the supply and demand curve on the board, showing the shift in the curve.

ALTERNATIVE: Select one or two of the scenarios on the attached handout and conduct this as an in-
class activity, providing students with the relevant facts from the article. Conduct class-wide discussion
to allow students to come to consensus on how the curves will shift.

Worksheet: https://s3-us-west-2.amazonaws.com/oerfiles/WMBusiness/Real+World+Connections.pdf

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: Supply and Demand. Authored by: Linda S. Williams. Provided by: Tidewater
Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 4: Financial Markets and System

Recommended Placement: Module 4: Financial Markets and System

In-Class Team Assignment: Deficit and Debt Directions

Connection
Instructions
Print out the following PDF with instructions for this activity: https://s3-us-west-
2.amazonaws.com/oerfiles/WMBusiness/InClassActivity_Module4-
FinancialMarketsandSystem_DeficitandDebt+Direction.pdf

This resource is provided by the Federal Reserve Bank of Richmond, originally accessed at this link:
https://www.richmondfed.org/~/media/richmondfedorg/publications/education/5e_educator/2013/pd
f/snacks_hs_slide.pdf

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: Deficit and Debt Directions Connection. Authored by: Linda S. Williams. Provided by:
Tidewater Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 6: Business Ethics and Corporate

Social Responsibility
Recommended Placement: Module 6: Business Ethic and Corporate Social Responsibility

In-Class Team Assignment: Ethical Dilemmas

Instructions
The student version of this activity includes a set of six ethical dilemmas.

● Divide students into six teams

● Each team should receive a copy of their team’s assigned ethical dilemma. They are:
o Financial Disclosure
o Who Owns My Time?
o Technology Temptations
o Is Anyone Listening?
o Community Involvement
o At What Price, Safety?
● One student in each team should be designated to record the comments of the team
● One student from each team should be designated to report out to the class at the
conclusion of the exercise
● Students will read the scenarios and then answer three questions:
o Is this action illegal? Explain your reasoning.
o Does the action violate company or professional standards?
o Who is affected, and how, by the action?
● After the teams have discussed their scenarios and are ready to report their team’s
findings, be sure that the entire class understands the ethical dilemma the team
addressed. This can be accomplished in several ways, such as the following:
o The student reads the scenario to the class.
o The instructor reads the scenario to the class.
o The text of the scenario is projected onto a screen in front of the classroom.
● After each team has reported out, guide a general class discussion of the dilemma and
the team’s conclusion.

Attribution:
ORIGINAL CONTENT
Instructor Resource for In-Class Team Assignment: Ethical Dilemmas. Authored by: Linda S. Williams. Provided by:
Tidewater Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
Six Ethical Dilemmas

Financial Disclosure
By law, corporations must disclose (reveal) financial information to the public so the public and its
investors can make sound financial decisions. This poses an advantage and disadvantage for
corporations. If the company is doing well financially, then they will be in greater demand for investors
to take a risk in their company. If the company is doing poorly, financially, then they will lose out to
competitors and be in less demand for investors to take a risk.

Enron, an energy distributing company, was in a partnership with Arthur Anderson, an accounting firm.
Arthur Anderson was responsible for auditing the financial books of Enron. “Auditing” means to
examine, inspect, and report proper financial information to the public and Enron’s investors. Executives
from both businesses secretly knew that Enron was in financial disaster, and the numbers were changed
around in the financial books to show that the company was doing quite well. Enron shredded
documents to hide the fact that Enron was in financial trouble. Enron executives later sent emails to
their employees reporting that the company was growing and in good financial shape. Enron employees
were encouraged to invest in the company through their 401K, a retirement account. Several months
later, Enron filed for bankruptcy, and their stock price fell from $65 a share to $0.60 a share.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

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Additional In-Class Activities

Who Owns My Time?

Employers and employees have a unique relationship. The employee agrees to provide the employer
with a fair day’s work. In return, the employer agrees to provide a fair day’s wage.

Situation 1: Kendra Nickel is a receptionist for Media Technologies. After the company installed voice
mail, Kendra’s workload became lighter, so her supervisor assigned additional responsibilities, including
some accounting tasks. Even with these assignments, Kendra is not always busy. To fill the time, she
plays computer games.

Situation 2: At Cooks’ Corner, a kitchen equipment store, most employees work less than 40 hours per
week. However, only employees who work a minimum of 40 hours per week are eligible for health
insurance.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

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Technology Temptations
Along with the many benefits it affords, technology also presents us with new temptations. Technology
allows us to access information for many legitimate reasons, but it can also create ethical dilemmas.
What do you think about the situations presented below?

Situation 1: Marcie Connors collects overdue accounts for a large credit card company. She has access
to records of all transactions for any customer. Marcie sometimes looks up the records of famous
people. She checks to see where they use their credit cards and how much money they spend. She
sometimes tells her friends about the buying habits of entertainers and politicians.

Situation 2: Jimmy Jenkins works for a not-for-profit organization. Recently, he found a list of computer
passwords near a photocopier. He started using these passwords to look at other employees’ email files.

Situation 3: Azure Olds is in college and works as a sales clerk in a bookstore. Occasionally, the scanner
in the store is unable to read a barcode on a customer’s selection, and the clerk must enter the code
using the keypad. Azure sometimes makes mistakes when she enters the code. As long as the customer
does not object, Azure thinks it’s unnecessary to correct her mistakes.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Is Anyone Listening?
The Berman Company enjoys a reputation as a good place to work. The company strives to provide
quality services for clients.

Situation 1: Harvey Hess likes to be the first to know what’s going on in the office. One of the reasons
he is so well informed is that he looks through the papers on the other employees’ desks.

Situation 2: To improve customer-service quality, employees’ telephone calls are monitored.

Monitoring is random and employees do not know when a quality manager is listening to a call.
Customer-service representative Ryan Ward made a personal phone call while Megan Burke was
monitoring the line. During the call, Ryan made plans for his weekend activities.

Situation 3: Antonio Morrison used his office computer to prepare his résumé and some cover letters.
Darrin worked on these documents after hours and provided his own paper for printing. He later learned
that his supervisor knew about his job search. The supervisor, David Williams, found the computer files
while looking for a report that Darrin had prepared.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

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Community Involvement
Dawn Roundtree, a certified public accountant, is a member of the Pine Island zoning board. The board
is reviewing a request to rezone a large section of property on the outskirts of town. The zone change
would permit Best Buy, a national electronics retailer, and Wal-Mart, a national discount superstore, to
build property if the zoning is approved. The Super Wal-Mart would consist of a grocery store, deli, auto
repair and tire installation shop, toys, men’s and women’s clothing, pet accessories, electronics, sporting
goods, automotive products, home accessories, a salon, eye care service, and a lawn and garden area.
The plans also include a coffee, beverage, and sandwich shop.

Developers believe that Best Buy and Wal-Mart would improve the community and offer citizens quality
merchandise at significantly lower prices than they are now paying. Local landowners are worried about
their ability to sell the property unless it is rezoned; this is the only large piece of undeveloped land in
Pine Island. Local retail storeowners have expressed fears that the giant retailers will force them out of
business. Other business owners have pointed out that the closing of retail stores in the central business
district will have a negative impact on other businesses and the community at large.

Dawn knows most of the people who have presented their side of this issue; some of them are clients of
hers. Understanding the possible negative impact the new stores could have on many of her firm’s small
retail clients, Dawn has decided to vote against the rezoning. In a three-to-two vote, the zoning board
denies the rezoning request.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

 WAYMAKER INTRODUCTION TO BUSINESS
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At What Price, Safety?

Ford Motors assembles a safety system for passenger automobiles. This system substantially reduces
severe injuries to drivers involved in accidents. In an effort to increase profits, Ford Motors recently took
steps to cut costs and increase production. Ford Motors has begun using some less expensive
components. These components increase the system’s estimated failure rate from 12 to 15 failures per
10,000 accidents. Despite this increase, the company continues to meet the government’s safety
standard of 20 failures per 10,000 accidents.

Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.

1. Is this action illegal? Explain your reasoning.

2. Does the action violate company or professional standards?
3. Who is affected, and how, by the action?

People Affected Negative Effects Positive Effects

 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Attribution:
ORIGINAL CONTENT
Ethical Dilemmas. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY:
Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Modules 9, 10 and 11: One Owner

Recommended Placement: after the conclusion of Modules 9, 10 and 11

In-Class Team Assignment: One Owner, Many Hats

Instructions
This assignment combines concepts from module 9 (Management), module 10 (Motivating Employees),
and module 11 (Teamwork and Communication). You will be assigned to a team and given a scenario to
develop a team report.  You will use the classroom time to work with your team on developing the
report.

 Working with your assigned team, complete the tasks described below.
 You will use two classroom sessions to complete the work.
 Submit the completed assignment to the assignment folder. Each team member will submit the
same report for grading.
 A third classroom session will be used to present your team report to the whole class.

Scenario

Wanda finally makes the decision to move her business out of her home and rent a small building in
town that has space for a commercial kitchen, as well as enough room for some retail sales. She knows
that she is going to have to manage more “moving parts” of her business, but she isn’t sure what that
will entail. When you press Wanda for details, she indicates that if she expands she will add the
following positions to the company:

 A full-time dog treat baker;

 One part-time baking assistant;
 A retail sales clerk who will also handle the Web site and Etsy sales;
 One part-time administrative assistant who will help Wanda with day-to-day operations and
paperwork

If her sales projections are correct, she also that within the next 12 months she will add:

 One part-time bookkeeper;

 A full-time e-commerce manager who will handle all of the Web site traffic and
Etsy orders;
 One part-time marketing manager to promote the Salty Pawz brand and help
develop new products.

To add to Wanda’s worries, she is concerned about her friend Jamie who has been working together
with Wanda since the first dog biscuit came out of the oven. Now that the business is expanding, she
can’t seem to get Jamie motivated to accomplish the things she delegates to her. She pays Jamie a salary
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
now, so it’s not like the old days when she was working in exchange for dog treats. She has even given
Jamie more responsibility; Jamie now supervises two other employees, a challenge Wanda assumed that
Jamie wanted.

One afternoon she stops Jamie in the hallway and asks her if everything is going okay. Jamie says yes.
Later that same week Wanda and Jamie are meeting about an upcoming promotion they are holding at
the local animal shelter. Jamie takes a few notes but doesn’t share Wanda’s enthusiasm for the event.
Wanda comes right out and asks Jamie if she has lost interest in the business. Jamie shrugs her
shoulders and says no, she is good with everything.

Instructions
1. Prepare an organizational chart for Wanda that depicts what her role as a manager will look like
if she expands as outlined above.
2. In addition to the chart, for each direct and indirect report, provide details regarding how or by
whom the position will be managed, and what kind of management functions will be performed.
Be sure to explain to Wanda specifically how each management function may affect her, those
she is managing, and the business in general. 
3. In addition to the structure of Wanda’s organization, describe the type of management style you
observe from Wanda today and recommend an appropriate style to consider going forward.
4. Explain some reasons why Jamie may lack motivation and enthusiasm for the business at this
point. Make sure that the reasons you present are supported by sound motivational theory as
established by leaders in the field.
5. Conclude with an assessment of your team’s performance for this assignment, including the
type of team structure you employed and the various stages of your activity.

ORIGINAL CONTENT
One Owner, Many Hats. Authored by: Betty Fitte. Provided by: Tidewater Community College. License: CC BY:
Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 11: Teamwork and Communication

In-Class Activity: What You Heard Is Not What I Said

Recommended Placement: Module 11: Teamwork & Communication

Instructions

Ask the class to take out a sheet of notebook paper and a pen or pencil. Tell them that they will be
creating a sketch based on verbal instructions.

1. Describe the figure on the attached sheet, making certain to give specific instructions such as
“Draw a vertical line, approximately three inches long” or “Draw a circle on the left side of the
page,” etc.
2. Give the students instructions in steps, but do not tell them what they are drawing.
3. Do not repeat the instructions or the individual steps.
4. When complete, ask the class to share their drawings. Have students compare their results to
your picture as well as one another’s.

Activity Debrief

Lead a discussion covering the following topics:

1. What contributed to the variety of results?

2. What communication barriers did students experience?
3. If students missed details in the instructions, what prevented them from listening or hearing the
instructions?
4. How can this type of poor communication affect business operations, customer satisfaction,
product quality?
 WAYMAKER INTRODUCTION TO BUSINESS
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Attribution:
ORIGINAL CONTENT
In-Class Activity: What You Heard is Not What I Said. Authored by: Linda S. Williams. Provided by: Tidewater
Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 12: Managing Processes

In-Class Activity: Build a Better Mousetrap

Recommended Placement: Module 12: Managing Processes

Instructions 
Have you ever wondered how jellybeans are made or what it takes to build the engine for a
motorcycle? Well, this is the heart of production and operations management. For this
assignment, you will use the Stanford University AIM Manufacturing Web site to explore the
process for making a product or process that is of interest to you.

In order to complete this assignment you will need to:

1. Open the link: Alliance for Innovative Manufacturing.

2. Once you open the link in a new window, select "How Everyday Things are Made" to
open a new window that contains a menu of the videos provided by Stanford
University's Alliance for Innovative Manufacturing.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

3. Select a product or process from the menu on the left. (See screen shot below.)
4. View the content/videos associated with the product or process you selected.
5. Prepare a one-page summary of the most interesting aspects of the process/product
you selected. 
6. Be prepared to discuss your findings in class AND turn in your one-page summary of
facts/observations

Attribution:
ORIGINAL CONTENT
In-Class Activity: Build a Better Mousetrap. Authored by: Linda S. Williams. Provided by: Tidewater Community
College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 13: Marketing Function

In-Class Activity: Choosing a Brand Name

Recommended Placement: Module 13: Marketing Function

Activity

When you go to the store and see a dozen different bottles of ketchup from which to choose,
how do you decide? BRAND! In this assignment, you will work with a group of your classmates
to create brand names for a list of new products. Each team will share its brand name for the
products, and, as a class; we will select the best name for each product.

When coming up with your brand names, remember the following characteristics of a good
brand name:

● It should be distinctive. The market is filled with overworked names. A unique and
distinctive symbol is not only easy to remember but also a distinguishing feature. 
● It should be expressive. A well-chosen name should be indicative of quality, value,
desirability, or whatever buying criteria the target market will be using.
● It should be easy to remember. It should be easy to read, pronounce, and spell.
● It should be adaptable and expandable to new products. For example, Hotpoint is a
great brand name for stoves but probably not as applicable to refrigerators.

Suggest an appropriate brand name for each of the following consumer products:

1. A television network targeted at new parents, with shows and infomercials about babies
and toddlers.
2. A coffee-flavored vitamin drink.
3. A sports car targeted at middle-aged women.
4. A glow-in-the-dark light switch.
5. A breakthrough prescription drug to treat male pattern baldness.
6. A restaurant serving Japanese and Mexican food.
7. An inexpensive line of cosmetics featuring vibrant colors.
8. A magazine targeted toward pet owners who are on a tight budget.
9. A high-end line of athletic shoes for children under the age of ten.
10. A banana-flavored breakfast cereal.
11. A mobile dental clinic.
12. A squirrel-proof bird feeder.
13. A laundry detergent that contains both non-chlorine bleach and fabric softener.
14. An electronic device that monitors your pet’s moods according to the sounds they make
when they are left home alone.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
15. A potting soil containing fertilizer and flower seeds that is guaranteed to grow beautiful
flowers in any climate.

Attribution:
ORIGINAL CONTENT
In-Class Activity: Choosing a Brand Name. Authored by: Linda S. Williams. Provided by: Tidewater Community
College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 15: Human Resource Management

In-Class Team Assignment: The Layoff (Instructor

Version)
Recommended Placement: Module 15: Human Resource Management

Instructor Resources

● This assignment can be completed in a single class period or used as an application

activity in class when employment laws/regulations have been covered.
● Provide each student with a copy of the handout “The Layoff.”
● Have them read the background information about the company and the brief
descriptions of the employees.
● After they have read the handout, each student will rank each of the employees from 1
through 7 (with 1 being “first to go”).
● Read each name and have students call out where they ranked the employee for
termination.
● Record their results on a board or flip chart.
● Debrief as a class, asking students why they ranked the employees the way they did and
how their termination recommendations would affect the company if they were
followed.

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: The Layoff. Authored by: Linda S. Williams. Provided by: Tidewater Community College.
License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

In-Class Team Assignment: The Layoff

Recommended Placement: Module 14: Human Resource Management

Two years ago, your organization experienced a sudden increased volume of work. At about the
same time, it was threatened with an equal employment lawsuit that resulted in an affirmative
action plan. Under this plan, the organization has recruited and hired additional women and
minority workers. Presently, the top level management in your organization is expecting a
decrease in volume of work. You have been asked to rank the clerical employees of your section
in the event that a layoff is necessary.

Following is the biographical data for the seven clerical people in your section. Rank the seven
people according to the order in which they should be laid off; that is, the person ranked first is
the first to be laid off, and so forth.

Be prepared to defend the order in which you would lay off these employees, keeping in mind
the recent lawsuit as well as the laws and regulations governing the employer-employee
relationship.

Marlin Perkins: White male, aged 45. Married, three children, six years with the
organization. Reputed to be an alcoholic; erratic attendance and generally poor work
record.

Eileen Gaddell: White female, aged 26. Married, no children; husband has a steady job;
six months with the organization. Hired after the affirmative action plan went into
effect; average work record to date. Saving to buy a home.

Antonio Gates: African American male, aged 22. Married, no children. One year with the
organization. High performance ratings. Reputed to be shy – “a loner”; wants to start his
own business someday.

Billy Lucero: White male; aged 24. Married, no children, but wife is pregnant, three
years with the organization. Going to college at night; erratic performance attributed to
work/study conflicts.

Lydia Connors: African American female, aged 49. Widow, three grown children; two
years with the company. Steady worker with average work performance.

Buddy Rich: White male, aged 30. Recently divorced, one child; three years with the
organization. Good worker.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
Rosario Hernandez: Hispanic female, age 45. Six children, husband disabled one year
ago; trying to help support her family; three months with the organization. No
performance appraisal data available.

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: “The Layoff”. Authored by: Linda S. Williams. Provided by: Tidewater Community
College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities

Module 16: Accounting and Finance

In-Class Team Assignment: Go with the Flo (Instructor

Version)
Recommended Placement: Module 16: Accounting and Finance

Before students begin this exercise, review with them the following definitions and accounting
concepts.

Definitions

Recurring Expense: Any expense that requires cash to be drawn from the business on a
“regular” basis. Some expenses will be monthly, some quarterly, and some annually.

One-Time Expenses: These expenses are usually incurred at start-up. They typically
include items such as fixtures and equipment, initial inventory, and start-up materials.

Cash In: The cash taken into the business during the reporting period (month).

Cash Out: The cash disbursed from the business during the reporting period.

Cash Flow: The way cash flows in and out of a business over time: Cash In minus Cash
Out equals the actual Cash Flow. Usually calculated on a monthly basis, but can be daily
for certain businesses types.

Beginning Cash: Cash remaining from the cash flows of the previous periods and carried
forward. Think of this as your check account balance. In all periods except for Start-Up,
this will be equal to the “Ending Cash” figure from the previous period.

Ending Cash: Cash (either + or -) remaining after subtracting Cash Out from the Cash In
during the period.

Instructions

1. Using “Go with the Flo – Projections,” have students create a set of projected cash flows
for Flo’s Trip.
2. Next, have students create a set of actual cash flows from the information using “Go
with the Flo—The Trip,” which are her actual expenses.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
3. Compare what happened to Flo’s trip between the time she projected her cash needs
and her actual expenses.

Suggested Debrief Questions

When comparing your actual cash flow statement and projections, answer the following
questions:

1. How much money did Flo have at the end of week five?
2. In which areas was she on target?
3. In which areas was she off target?
4. What benefits do you see in developing projections and then comparing them with
actual figures?

Discussion

What is your reaction to Flo’s trip, and how does it relate to the success or failure of a small
business?

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: Go With the Flo (Instructor Version). Authored by: Linda S. Williams. Provided by:
Tidewater Community College. License: CC BY: Attribution.
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
In-Class Team Assignment: Go with the Flo
Recommended Placement: Module 15: Accounting and Finance.

Go with the Flo . . . Projecting the Cost of Her Trip

Flo lives in Raleigh, North Carolina, and decides that she is going to San Francisco to visit Uncle
Henry and see the USA. She starts planning her trip and tries to figure out how much money
she is going to need. She makes the following assumptions and projections before starting out.

Flo has $800 in savings that came from odd jobs around town. She also is able to get Uncle
Henry to send her $700 via Western Union before she embarks on her journey. She sells some
tube socks at a local flea market and is able to raise another $150. Figuring she has enough cash
saved up, she begins to plan her trip.

PREPARATION STAGE

She buys a vintage truck for $400, since her only transportation is a bicycle. She plans to
purchase an ice chest for $15 and some snack food and beanie weenies for $50. She sees a
decent sleeping bag for $25 at a local thrift store and plans on sleeping in the truck most nights
and eating her snacks and some drinks along the way. She decides to put $100 in the glove box
as an “emergency fund.”

TRIP STAGE

Week 1:
She plans to stay in a hotel in Atlanta for $25 and one in Birmingham for $25. She also
estimates that food will cost her $105 per week for the three weeks that she is traveling, since
she has some food and an ice chest with her. She has a cousin in Arkansas who will give her
some work and she can earn $50 while she is there. Based on average gas prices, she estimates
that her gas will run $210 for this leg of the trip.

Week 2:
She plans to visit a friend in Colorado who can get her some work that should pay her $50.
Again, she estimates that she will spend 2 nights in a hotel at $25 per night along the way. Her
estimate for food and gas are the same as week 1 —$210 for gas and $105 for food.

Week 3:
She is going to Las Vegas and the Grand Canyon this week, so she does not plan to work any
odd jobs. She knows the hotels are more expensive, so she budgets $100 for hotels on this leg
of the trip. She assumes that the food and gas will still be $105 and $210.

SAN FRANCISCO STAGE

Week 4:
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
Flo knows that Uncle Henry has some work lined up for her when she arrives, and that should
pay her $300. She plans on selling the truck when she gets there and estimates that she can get
$300 for it on the West Coast. She plans on taking Uncle Henry out and estimates that she will
spend $50 on entertainment this week.

Week 5:
Flo has to pay Uncle Henry back the $700 he loaned her before she leaves San Francisco. She
estimates that with the $300 she will earn this week and the money she will have left over, she
can pay Uncle Henry the $700 and still spend $50 on sightseeing in San Francisco. She projects
that she will still have cash left over and can take the bus back home.

Flo begins to pack . . .

Go with the Flo . . . The Trip!

PREPARATION STAGE

She correctly projected her cash in: $800 in savings and $150 from her flea market sales. The
truck cost $400 but needed 2 new tires ($50) for a total of $450. She found an ice chest at Wal-
Mart for $10 and a sleeping bag for $20. She purchases some snack food and beanie weenies
for $40 and keeps $100 in the glove box as an “emergency fund.”

TRIP STAGE

Week 1:
The motels were more expensive than she had planned—a night in Atlanta was $45 and a night
in Birmingham was $35. She stayed within her limit on food and spent only $90, but her gas was
$220. Her cousin in Arkansas gave her some work and she earned $65 while she was there.

Week 2:
The water pump in the truck went out as she left Arkansas. She replaced it with a rebuilt one
for $129, using the $100 emergency fund and $20 of her spending money. Because of the
unexpected expense, she slept in the truck instead of staying in hotels. Her food bill this week
was $115, but her gas was only $205. Her friend in Colorado came through with a job that paid
$80.

Week 3:
Hotels and food in Las Vegas and the Grand Canyon were expensive, so she spent $80 for one
night in Las Vegas and slept in the truck the rest of the trip. Money was getting low, so she
stocked up on peanut butter and beans and only spent $60 on food. Gas cost $200.

SAN FRANCISCO STAGE

Week 4:
 WAYMAKER INTRODUCTION TO BUSINESS
Additional In-Class Activities
Flo made it to San Francisco, but she is almost broke! She quickly tried to sell the truck. Her
best offer was $300 because the brakes were getting bad. She took the offer. She paid Uncle
Henry $100 of the money she owed him. San Francisco was great! She spent $100 downtown
having fun and seeing the sights—Fisherman’s Wharf, Chinatown, and the Golden Gate Bridge.
Uncle Henry paid her $300 for working the first week, and she immediately gave him the money
back to pay off more of the loan.

Week 5:
Flo bought gifts for friends and family back home, spending $100. Entertainment expenses
totaled $50 as she had planned. She paid Uncle Henry back the last $300 of the loan when he
paid her for the second week of work.

Attribution:
ORIGINAL CONTENT
In-Class Team Assignment: Go With the Flo. Authored by: Linda S. Williams. Provided by: Tidewater Community
College. License: CC BY: Attribution.