The document provides instructions for learners to participate in an entrepreneur's market day project. Students will be divided into groups and asked to: [1] Develop a business idea and product or service to sell. [2] Conduct research and create a business plan. [3] Budget costs and profits. [4] Market and advertise their product. [5] Set up and run a stall on market day to sell their product or service. [6] Review their financial records and performance as a group after the event. The goal is for students to gain experience in entrepreneurship and working as a team.
The document provides instructions for learners to participate in an entrepreneur's market day project. Students will be divided into groups and asked to: [1] Develop a business idea and product or service to sell. [2] Conduct research and create a business plan. [3] Budget costs and profits. [4] Market and advertise their product. [5] Set up and run a stall on market day to sell their product or service. [6] Review their financial records and performance as a group after the event. The goal is for students to gain experience in entrepreneurship and working as a team.
The document provides instructions for learners to participate in an entrepreneur's market day project. Students will be divided into groups and asked to: [1] Develop a business idea and product or service to sell. [2] Conduct research and create a business plan. [3] Budget costs and profits. [4] Market and advertise their product. [5] Set up and run a stall on market day to sell their product or service. [6] Review their financial records and performance as a group after the event. The goal is for students to gain experience in entrepreneurship and working as a team.
The document provides instructions for learners to participate in an entrepreneur's market day project. Students will be divided into groups and asked to: [1] Develop a business idea and product or service to sell. [2] Conduct research and create a business plan. [3] Budget costs and profits. [4] Market and advertise their product. [5] Set up and run a stall on market day to sell their product or service. [6] Review their financial records and performance as a group after the event. The goal is for students to gain experience in entrepreneurship and working as a team.
TERM 3: PROJECT ENTREPRENEUR’S DAY GRADE 7 Total marks: 50 Weeks: 6 – 7 • Term 3 BASED ON CONTENT TOPICS: • Week 2 – 5 • The Entrepreneur & Starting a Business _____________________________________________________________________________
INSTRUCTIONS TO LEARNERS: Your school will be hosting a Market Day for the Grade 7 group of learners. Your teacher will divide you into groups to complete the task. Your teacher will assess all your work using the assessment tools below. You can complete this task (depending on the contextual factors of your school/ community) with your teacher through a simulation exercise.
Steps to follow: 1. Develop business idea of a product/ service for your market day. 2. Develop a SWOT analysis of your idea(s). 3. Conduct a survey to test the viability of your product/ service for the market day (will you product / service be profitable) 4. A brief Business Plan would be advisable to show how your project will unfold. 5. Budget for your market day. 6. Cost calculations: a. Cost price of your product/ service b. Selling price c. Variable and fixed costs d. Projected profit to be made e. Some things to consider: (Choose a product that you would like to make or sell and consider the following factors: make a list of all the items that you will need for your product. make a list of all your expenses or costs like ingredients or raw materials, advertising, stall renting, packaging, etc for your product. calculate the costs or all these items (total cost) where applicable. work out how many units of the product you think you can make with the items above; calculate how much it will cost to make one unit of the product. Record how you will determine your selling price. selling your products with confidence; determine what worked? what did not work? What will you do to improve your effort?) 7. Marketing strategy (Advertising of your product/ service on A4, A3 or A5 poster, business cards, pamphlets) 8. Producing your product using recycled materials or materials found in your community. 9. Capital to produce your product/ service, paying for expenses before and on market day. 10. Planning of your stall and equipment and materials needed. 11. Group objectives - Tasks per team members of your group shown clearly. 12. Hosting your market day with your teacher(s) assistance. Placement and layout of stalls on school premises, time, advertising, selling to rest of school. 13. Selling on market day: Cash float (change), enough products to sell, packaging, team work, record keeping of all money, control and monitoring by group leader, liaising with teacher(s) to prevent problems. 14. Clean up 15. Drawing up an Income and Expenditure Statement to determine profit made.
“TEAM WORK MAKES THE DREAM WORK”
ECONOMIC AND MANAGEMENT SCIENCES MARKET DAY: ADVERTISEMENT RUBRIC Group Activity: Instruction to learners: Advertise your product by drawing up an A4, A3, A2 or A1 size poster advertisement. Your advert must reflect the important aspects of your product. (Teacher decide on size of poster depending on context of school)
Name of Learner(s): ______________________ Grade: ____ Date: __________20__
Teacher Assessment Rubric: Advertisement Assessment Level Descriptors Criteria Not Partially Outstanding Learner’s Achieved Achieved Achieved Achievement Mark 0 1 2 3 Attracts Attracts little/ no Attracts Attracts attention Is colourful and Max = 3 attention by the attention attention but attracts a lot of effective use of has attention through the colour, shortcomings use of colour, headings, headings and pictures and pictures. layout Creates desire Benefits not Only one or Three or more A wide variety of Max = 3 for product clearly depicted two benefits benefits depicted/ benefits depicted/ depicted/ stated stated stated Convinces Reasons to buy Only one A variety of reasons A wide variety of Max = 3 customer to buy are not stated reason to buy to buy are stated reasons to buy are the product stated stated Elicits action Neither text/ Re urges the The text as well as The text/ picture Max = 3 from customer picture is customers to the picture urges convincingly urges relevant nor action the customers to the customers into convincing action action Originality and Not original or Only text or Good work, but Unique piece of work Max = 3 creativity interesting and picture is based on existing of extremely high neither text nor relevant ideas or copied quality. All text and picture is form other pictures are effective relevant examples Technical No compliance Work has Good final product Proof of pride and Max = 3 Quality with basic shortcomings very hard work Lettering (size requirements, e.g. illegible or evident; impressive or legibility) very little effort no clear layout Layout Enough Very little Not enough Enough information All relevant Max = 3 information information information given, without information given given (where, given and/ or given and/ or confusing the with clear when, prices, very confusing some reader/ target understanding by sizes, colours, confusing market reader/ target market etc.) information Handed in on Handed in very Handed in two Handed in one day Handed in on time Max = 2 time late days after due late date (1) (2) Team Work No Team work Little team Some team work All team members Max = 2 evident. work evident. evident. Completed assisted in the Complete by Completed by by only three completion of task. one team only two team members member only members (1) (2)
TOTAL: 25 ECONOMIC AND MANAGEMENT SCIENCES MARKET DAY: CHECKLIST Group Activity: Instruction to learners:
Use this checklist to prepare for assessment by your teacher:
Assessment Criteria Yes No
A Before the market day:
1 Was market research done in advance in order to motivate the choice of
product? (Include evidence of people interviewed) 2 Did the group set clear objectives for themselves on what they wanted to achieve? (How many products, possible profit, etc.) 3 Are the group members’ roles clearly defined and described? (Include a list of members and their roles before and on the market day) 4 Did the group advertise the product at least a week before the market day?
B On the market day:
5 Did the group make provision for enough change (cash float/change)
6 Is the layout of the stall suitable for the specific goods or service?
7 Is the stall accessible for customers, but secure enough to ensure that goods will not be stolen? 8 Is the price clearly displayed?
C After the market day:
9 Did the group work well together, without any conflict? (Team Work)
10 Did all the group members perform their allocated tasks well?
11 Did the group achieve all the objectives that they defined before the market day? 12 Were most of the goods sold?
13 Did the group make a reasonable profit?
ECONOMIC AND MANAGEMENT SCIENCES MARKET DAY RUBRIC
Group Activity: Instruction to learners:
This rubric will be used by your teacher to assess every aspect of your planning, market research, product or service, budget, cost calculations, advertising, setting up of stall, team work, selling on market day, income and expenditure statement (profit/ loss) Name of Learners/ Group: __________________________________________________________________________________________
Assessment Criteria Not Achieved Partially Achieved Achieved Outstanding Learners
(0 – 1) (2) (3) Achievement (4 – 5) Mark 1 Market research was Unable to collect Able to collect data, but Able to collect most Able to collect data in done in advance relevant data for not able to analyse it of the relevant data to order to motivate choice motivation of choice of correctly in order to motivate choice of of product/ service (4). product/ service (0). But motivate choice of product/ service Did thorough market tried a little (1) product/ service (2) (3) research in a very professional way (5) 2 Choice of product Product choice does With some guidance Most criteria of the Meets (4) or exceeds (5) not meet the the product meets product choice/ all the criteria, including: recommended criteria some of the selection were met. - Recommendation at all (0). recommended criteria (3) from market Product choice meets (2) research only one of two criteria • Recommended (1) price • Affordability • Quality • Marketability 3 Ability to draw up a No attempt (0) Drew up cash budget, Drew up a cash Able to draw up a cash budget according to Not able to draw up a but made many budget, but made budget (4) exactly given example cash budget, but tried mistakes (2) minor mistakes (3) according to the given (1) example (5) 4 Distinguished No attempt to Attempted to Made mistakes in Able to distinguish between fixed and distinguish between distinguish between distinguishing between fixed and variable costs (0). costs, but made many between fixed and variable costs without any Some attempt (1) mistakes (2) variable costs (3) mistakes (4 – 5) 5 Advertising None (0) Attracts some attention, Attracts attention and Convinces customers to (Advertising at least Little attention or but does not provoke provides desire to buy (4) a week before the persuasion evident in desire to buy (2) buy to some extent Very effective marketing market day) promotion strategies (1) (3) strategies were used (5) 6 Planning of stall None (0) Some attention paid to A fair amount of Considerable amount of • Layout Little attention paid to layout, appearance and attention paid to attention paid to layout, • Appearance to layout, access and accessibility (2) layout, access and appearance and • Accessibility appearance (1) appearance (3) accessibility (4 – 5) 7 Group organisation Group roles and skills Group roles and skills Group roles and skills Group roles and skills not define (0) defined but not defined and used to a clearly defined, Not clearly defined and completely adhered to large extend in the understood and utilised / or not completely (2) entrepreneurial (4). Group roles adhered to (1) activity (3) effectively utilised in the entrepreneurial activity (5) 8 Ability to draw up a Did not calculate profit Able to calculate profit, Able to calculate Able to calculate profit statement of income (0) but made many profit, but made very accurately (4) and expenditure and Not able to calculate mistakes and/ or did mistakes and/ or did And had proof of all determine final profit profit, but made an not include all not include all proof expenses in the form of made attempt (1) expenditure (2) of expenditure (3) source documents (5) 9 Achievement of None of the defined Few of the defined Some of the defined All defined objectives group’s objectives objectives, if any were objectives were objectives were were achieved (4) achieved (made a loss) achieved (very small achieved (reasonable And a substantial big (0 – 1) profit was made) profit was made) profit was made (5) (2) (3) 10 Selling of goods/ Good/ services sold Some of the good/ Most of the goods/ All goods/ services fully services were not popular at all services were sold, but services utilised to utilised (4) (0 – 1) not all great extent (3) And were very popular (2) (5)
