Today is a Review of some of the things we have learned so far.
You are to play a game of JA Titan again. This time, keep in mind the importance of Supply and Demand, the importance of Marketing, R & D Research and Development.
This is for marks, here is the marks breakdown:
If you play a Short Game and get a Performance Index Score of 60+ you get 3/5
If you play a Medium Game and get a Performance Index of 50+ you get 3/5
If you play a Short Game and get a P.I. of 90+, you receive 4/5
If you play a Medium Game and get a P.I. of 80+ you receive 4/5
If you play either a Short, Medium, or Long game and get 100+ you will get 5/5
(If you try 2 games and still can't score a high Performance Index, you will still receive a 3/5)
Good Luck
Here is the link: http://titan.ja.org/
Monday, 17 June 2019
Thursday, 13 June 2019
Here are the terms. Quiz next Wednesday
"Tragedy of the commons"
Marginal Cost/Marginal Benefit
Supply and Demand
Free Market
Econominc Cycle: Growth, Boom, Recession, Depression
Business ownership: Sole Proprietorship, Partnership, Corporations
Franchise
Joint Ventures
Multinational Corporations
Ethics
Whistle Blowing
Insider Trading
Fraud
Triple Bottom Line (Profit, Planet, Profits or Environmental, Finanncial, and Socially Responsible)
Planned Obsolecence (Story of Stuff)
Percieved Obsolecene (Story of Stuff)
Invention
Innovation
(How inventions/innovations can have both positive and negative impacts)
Human Resourses
Skilled Labour
Unskilled Labour
employee turnover
Salary
Salary plus Commission
Hourly wages
Commission
How to deal with Customer Complaints?
LEARN
Listen,
Empathize
Apologize
React
Now
Leader vs Manager
Democratic leader
Autocratic
Laissez faire
Raw Material
Processing
Quality Control
Capital.
Economies of Scale
Dis-economies of Scale
Natural Resources
Production Cost
Landed Cost
"Tragedy of the commons"
Marginal Cost/Marginal Benefit
Supply and Demand
Free Market
Econominc Cycle: Growth, Boom, Recession, Depression
Business ownership: Sole Proprietorship, Partnership, Corporations
Franchise
Joint Ventures
Multinational Corporations
Ethics
Whistle Blowing
Insider Trading
Fraud
Triple Bottom Line (Profit, Planet, Profits or Environmental, Finanncial, and Socially Responsible)
Planned Obsolecence (Story of Stuff)
Percieved Obsolecene (Story of Stuff)
Invention
Innovation
(How inventions/innovations can have both positive and negative impacts)
Human Resourses
Skilled Labour
Unskilled Labour
employee turnover
Salary
Salary plus Commission
Hourly wages
Commission
How to deal with Customer Complaints?
LEARN
Listen,
Empathize
Apologize
React
Now
Leader vs Manager
Democratic leader
Autocratic
Laissez faire
Raw Material
Processing
Quality Control
Capital.
Economies of Scale
Dis-economies of Scale
Natural Resources
Production Cost
Landed Cost
Fad,
Niche,
Seasonal
Target Market
Brand
Reach:
Frequency:
Selectivity:
Durability:
Lead-Time:
Mechanical Requirements:
Clutter:
Costs:
Frequency:
Selectivity:
Durability:
Lead-Time:
Mechanical Requirements:
Clutter:
Costs:
asset
gross profit
liability
net profit
operating expenses
revenue
transaction
gross profit
liability
net profit
operating expenses
revenue
transaction
Tuesday, 11 June 2019
Monday, 10 June 2019
Today we will be talking about press releases and you are to write a press release for your or another business and then POST it as a comment on this site! If you can't, email it to me, and I will post if for you.
Youtube Video
Examples
Template and instructions
Furniture
Youtube Video
Examples
Template and instructions
Furniture
Thursday, 6 June 2019
Sorry for being away today
First Finish you Booklet and Hand in for tomorrow. Everyone needs to submit a booklet. The last pages are the most important.
According to a report released yesterday, the worlds richest 1% control more than half of all the worlds wealth. Please read the article HERE.
1. How much wealth does the poorest 50% of the world control?
2. There is a economic theory called 'trickle down economics'. According to that theory, rich people will spend there money and by them spending it places, it will create jobs for the poor and spread the wealth. What is your opinion of this theory? Will it spread the wealth out by having a few very rich people, spending their money, or will that only concentrate the money since they will only spend in a few places and not all over?
3. We know that one dollar spent 5 times in Canada is 5 dollars to the Canadian economy. One theory is that if you have 1000 people spending one million dollars each, it is better than having 1 person spending one billion since the 1000 peoples money will be spread out more. To accomplish this however, the current tax set up may need to change. Would that be ethical? Would it be economically justified?
4. There have been many studies on happiness. If you compare someone who makes $5000 a year with someone who makes $50,000 a year, the person who makes $50,000 is usually far more happy than the person who makes only $5000. However, when you compare the average person who makes $50,000 with the average person who makes $5,000,000 a year, the millionaire is only slightly more happy. (In fact, a recent study shows that most Canadians happiness peaks at a salary around $75,000 per year).
a) How much do you think that you would want to make a year to make you happy? Think about your vision of success.
b) Should companies/the owners/entrepreneurs have an ethical duty to try and spread out their wealth?
c) If money is only part of the happiness equation, what other things do people want to make them happy?
First Finish you Booklet and Hand in for tomorrow. Everyone needs to submit a booklet. The last pages are the most important.
According to a report released yesterday, the worlds richest 1% control more than half of all the worlds wealth. Please read the article HERE.
1. How much wealth does the poorest 50% of the world control?
2. There is a economic theory called 'trickle down economics'. According to that theory, rich people will spend there money and by them spending it places, it will create jobs for the poor and spread the wealth. What is your opinion of this theory? Will it spread the wealth out by having a few very rich people, spending their money, or will that only concentrate the money since they will only spend in a few places and not all over?
3. We know that one dollar spent 5 times in Canada is 5 dollars to the Canadian economy. One theory is that if you have 1000 people spending one million dollars each, it is better than having 1 person spending one billion since the 1000 peoples money will be spread out more. To accomplish this however, the current tax set up may need to change. Would that be ethical? Would it be economically justified?
4. There have been many studies on happiness. If you compare someone who makes $5000 a year with someone who makes $50,000 a year, the person who makes $50,000 is usually far more happy than the person who makes only $5000. However, when you compare the average person who makes $50,000 with the average person who makes $5,000,000 a year, the millionaire is only slightly more happy. (In fact, a recent study shows that most Canadians happiness peaks at a salary around $75,000 per year).
a) How much do you think that you would want to make a year to make you happy? Think about your vision of success.
b) Should companies/the owners/entrepreneurs have an ethical duty to try and spread out their wealth?
c) If money is only part of the happiness equation, what other things do people want to make them happy?
Wednesday, 15 May 2019
Today we are going to start with a video on Lousy Labels.
Questions
1. Why do companies use terms such as 'Natural' and 'Organic' when describing their product?
2. Is it legal for companies to say a product is 'natural' even if it mostly isn't?
3. Pick a product (preferably one that you actually use) that is 'natural'. Research to see how 'natural/or organic' it is. Explain what you find or don't find.
Have your ad submitted to Mr. Southwell and be done up to page 21 in the booklet.
Questions
1. Why do companies use terms such as 'Natural' and 'Organic' when describing their product?
2. Is it legal for companies to say a product is 'natural' even if it mostly isn't?
3. Pick a product (preferably one that you actually use) that is 'natural'. Research to see how 'natural/or organic' it is. Explain what you find or don't find.
Have your ad submitted to Mr. Southwell and be done up to page 21 in the booklet.
Wednesday, 8 May 2019
Go to the this LINK. It is a list of 50 business ideas for teens. Pick one of the business ideas and imagine that you are going to start that business or someone you know is going to. Using your knowledge of business, work through the following questions with that business in mind. Use as many terms that you know that are relevant in your answers. Show what you know in your own words. Not cut and paste. This can be a business group assignment. Good luck!
1. What is the business idea?
2. What 'branding' would you do with that business or suggest someone else do? (you do not need to have a full brand plan but talk about it in general as it relates to the business)
3. What form of business ownership would be best for that business?
4. What would a good money plan be: where to get start up capital? What type of costs would be involved? Estimate a break-even point.
5. Briefly explain the business using each of the 4 p's.
6. Would there need to be employees? Why or why not? If yes, what management style would work best? What qualities would you look for in hiring?
(7). This will only apply to some businesses: What production methods would work best for making the products?
1. What is the business idea?
2. What 'branding' would you do with that business or suggest someone else do? (you do not need to have a full brand plan but talk about it in general as it relates to the business)
3. What form of business ownership would be best for that business?
4. What would a good money plan be: where to get start up capital? What type of costs would be involved? Estimate a break-even point.
5. Briefly explain the business using each of the 4 p's.
6. Would there need to be employees? Why or why not? If yes, what management style would work best? What qualities would you look for in hiring?
(7). This will only apply to some businesses: What production methods would work best for making the products?
Tuesday, 7 May 2019
Dragons Den
Talk on credit and credit cards, debt, bankruptcy and identity theft. LINK
Questions
1. What is the 20/10 rule of borrowing?
2. What is a credit rating and why is it important.
3. List some of the pros and cons on credit cards. (3 each)
4. What is bankruptcy and what are its consequences.
Talk on credit and credit cards, debt, bankruptcy and identity theft. LINK
Questions
1. What is the 20/10 rule of borrowing?
2. What is a credit rating and why is it important.
3. List some of the pros and cons on credit cards. (3 each)
4. What is bankruptcy and what are its consequences.
Monday, 6 May 2019
Wednesday, 1 May 2019
Activity (Module 5)
Vocabulary: Expenses, Revenue, Profit= Total Revenue -Total Expenses, Price and Break Even Point
CHALLENGE:
You are a business consultant. You are to determine the best price to sell the following product for. It is a 'hand crafted' keychain made with genuine leather and a individual wooden bead with a protective coating. Keep in mind all expenses, (material, shipping, labour time) as well at the break even point. (how many do they have to sell).
Hint: you can search Google or Etsy for ideas from similar products or Amazon or Michael's to get an idea on the cost of materials.
Vocabulary: Expenses, Revenue, Profit= Total Revenue -Total Expenses, Price and Break Even Point
CHALLENGE:
You are a business consultant. You are to determine the best price to sell the following product for. It is a 'hand crafted' keychain made with genuine leather and a individual wooden bead with a protective coating. Keep in mind all expenses, (material, shipping, labour time) as well at the break even point. (how many do they have to sell).
Hint: you can search Google or Etsy for ideas from similar products or Amazon or Michael's to get an idea on the cost of materials.
Tuesday, 30 April 2019
Here is the Link
Start by looking at all of the 100 ads.
Questions
1. Are there any commonalities between the ads or are they all unique? Why do you say this?
2. There are a large number of PSA ads here. What does PSA mean?
3. With the PSA ads, what are some of the strategies used to get and maintain the audiences attention? Use specific examples from the 100.
4. Which of the PSA ads was able to best gain your attention? Why
5. Of the traditional (for profit) ads, are there any that don't work well/aren't good ads? Explain which one(s) and why.
6. A) Pick 3 of the ads. (different than the ones you have already talked about in the questions above). Name each one and explain, using demographics, who the target market is/are.
B) For each ad, explain how they gain the customer's attention. In other words, what strategies are they using? Humour, shock etc. Explain your answer.
6). Which ad way you favorite? Why?
Monday, 29 April 2019
We have been working on our Project Enterprise Projects.
First, finish summarizing your Market Research Survey Data. If you have done it on the computer, you do not need to complete page 10 and 11 in your Project Enterprise books.
Next, complete the following assignment (as an INDIVIDUAL) on Prototypes.
USE This LINK
1. What is a prototype?
2. Pick 2 of the prototypes on the link. Briefly describe them. What design features do they include to make it easier for humans to use/how will it be usable and useful?
3. For the 2 prototypes that you picked, what materials will they need to be made? What types of barriers or difficulties might the companies face getting these products to market (ready to sell to customers)?
Now that you know a bit about prototypes, and you have some information on what your customers want, now it is time to work on pages 12 and 13 in your workbook. This is where you can work out plans for your product/service that you will sell.
First, finish summarizing your Market Research Survey Data. If you have done it on the computer, you do not need to complete page 10 and 11 in your Project Enterprise books.
Next, complete the following assignment (as an INDIVIDUAL) on Prototypes.
USE This LINK
1. What is a prototype?
2. Pick 2 of the prototypes on the link. Briefly describe them. What design features do they include to make it easier for humans to use/how will it be usable and useful?
3. For the 2 prototypes that you picked, what materials will they need to be made? What types of barriers or difficulties might the companies face getting these products to market (ready to sell to customers)?
Now that you know a bit about prototypes, and you have some information on what your customers want, now it is time to work on pages 12 and 13 in your workbook. This is where you can work out plans for your product/service that you will sell.
Friday, 12 April 2019
Talk on Decisions
De 'Cide' What do you think 'cide' means
Oppourtunity Cost: The cost of a decision.
Video
The Decision Making Process is:
1. Identify the problem
2. Gather information and list possible alternatives
3. Consider consequences (oppourtuinty cost) of the decision
4. Select the best course of action
5. Evaluate the results.
Budgeting Terms
Fixed Expense
Variable Expense
Monthly
Annual
Utility
Video
Hand out on budgeting.
Hand in questions.
De 'Cide' What do you think 'cide' means
Oppourtunity Cost: The cost of a decision.
Video
The Decision Making Process is:
1. Identify the problem
2. Gather information and list possible alternatives
3. Consider consequences (oppourtuinty cost) of the decision
4. Select the best course of action
5. Evaluate the results.
Budgeting Terms
Fixed Expense
Variable Expense
Monthly
Annual
Utility
Video
Hand out on budgeting.
Hand in questions.
Thursday, 11 April 2019
April 11
Dragons Den
Balance Sheet Equation: Assets = Liabilities + Owner Equity (should always equal)
Hand in Worksheet activity from yesterday.
Questions. Read Pages 280-284
1. What does Owners Equity mean?
2. What is the Balance Sheet Equation?
3. What does Liquidity mean?
4. List and briefly explain all of the steps to create a balance sheet.
Read Pages 285-288
5. What is an Income Statement?
6. Briefly explain the steps in setting up an income statement.
Balance Sheet Equation: Assets = Liabilities + Owner Equity (should always equal)
Hand in Worksheet activity from yesterday.
Questions. Read Pages 280-284
1. What does Owners Equity mean?
2. What is the Balance Sheet Equation?
3. What does Liquidity mean?
4. List and briefly explain all of the steps to create a balance sheet.
Read Pages 285-288
5. What is an Income Statement?
6. Briefly explain the steps in setting up an income statement.
Tuesday, 9 April 2019
Start with Dragons Den and talk on Credit Scores? What are they? Why do they matter?
Questions by "Practical Money Skills" sponsored by VISA.
Alone or with up to two partners, discuss and answer the questions for each of the 5 following scenarios. Email your answers and be prepared to discuss them at the end of the class.
You’re holding the keys to a brand new car, longing for a cell phone upgrade and planning a trip to Disney World. But wait … will doing these things affect your credit? Determine how the scenarios below might impact your credit score. (Remember—it can go up or down.) Justify your reasoning and offer a solution to any negative impacts.
Scenario 1: You want to purchase a new vehicle and you have your heart set on a brand new SUV. You take out a loan to pay for the car, but after six months you begin to fall behind on payments and incur late fees.
Does your credit score go up or down?
Why does it go up or down?
If your score goes down, how can you fix it?
Scenario 2: You’ve been eager to buy a new cell phone for months, and now you’re ready to make it happen. You use your credit card to purchase the phone and you set up automatic billing to pay the monthly expenses. At the end of each month, you pay the credit card bill in full.
Does your credit score go up or down?
Why does it go up or down?
If your score goes down, how can you fix it?
Scenario 3: Your first semester of college, you take out a small loan to help pay for books. Despite being busy, you get a part time job. Although you don’t have to pay your loan back until you graduate, you’ve saved enough by the end of the semester and you will pay off the loan in full.
Does your credit score go up or down?
Why does it go up or down?
If your score goes down, how can you fix it?
Why does it go up or down?
If your score goes down, how can you fix it?
Scenario 4: You just got the keys to your first apartment. You also have a new credit card with a $4,000 limit and you use it to furnish your new place. Before you know it, you’ve bought a TV, a couch and a dining room table. When you get the credit card bill, you realize you’ve spent your full credit limit of $4,000.
Does your credit score go up or down?
Why does it go up or down?
If your score goes down, how can you fix it?
Why does it go up or down?
If your score goes down, how can you fix it?
Scenario 5: You’re planning a trip to Disney World with friends over winter break. You get a credit card offer in the mail that lets you earn airline miles for every $1 you spend, plus bonus miles for opening a new account. Even though you opened three other credit cards this year, you jump on the opportunity and sign up immediately because you haven’t bought your flight to Florida yet.
Does your credit score go up or down?
Why does it go up or down?
If your score goes down, how can you fix it?
Why does it go up or down?
If your score goes down, how can you fix it?
Thursday, 4 April 2019
April 4
Finish watching 'To catch an ID Theif'
Next.
Now Try to complete the quiz at this LINK (you will have to scroll down)
Answer the following questions and hand them in:
1. Describe 2 ways to avoid credit card fraud.
2. Describe 2 ways Fraud occurs.
3. What is phishing?
4. What are two things you learned?
Monday, 1 April 2019
Welcome Back!!
Kahoot on Brand Mascots/Advertising Icons
Discussion (Market Share) Direct and Indirect Competition
Finish these Textbook questions. (If you haven't handed them in already) Read pages 247-254
Answer and hand in questions 5, 6,a,b, 7, 8, and 9
NEXT (mini) PROJECT
Next, you are to create an ad (with a partner if you wish). It can be a static (picture ad) on the computer or on paper (must be neat and have colour). With the ad, include a brief description of the following about the ad:
Where will your ad be placed? TV, Social Media, Out of home, Direct to home, Magazines, Newspapers, Banner Ads, Before movies etc.
Who is the target market for the ad? Be specific. What gender, what ages, what income level, Life cycle stage, where do they live? etc
Then comment on each of the following about your ad:
Reach:
Frequency:
Selectivity:
Durability:
Lead-Time:
Mechanical Requirements:
Clutter:
Costs:
Due Wednesday
Kahoot on Brand Mascots/Advertising Icons
Discussion (Market Share) Direct and Indirect Competition
Finish these Textbook questions. (If you haven't handed them in already) Read pages 247-254
Answer and hand in questions 5, 6,a,b, 7, 8, and 9
NEXT (mini) PROJECT
Next, you are to create an ad (with a partner if you wish). It can be a static (picture ad) on the computer or on paper (must be neat and have colour). With the ad, include a brief description of the following about the ad:
Where will your ad be placed? TV, Social Media, Out of home, Direct to home, Magazines, Newspapers, Banner Ads, Before movies etc.
Who is the target market for the ad? Be specific. What gender, what ages, what income level, Life cycle stage, where do they live? etc
Then comment on each of the following about your ad:
Reach:
Frequency:
Selectivity:
Durability:
Lead-Time:
Mechanical Requirements:
Clutter:
Costs:
Due Wednesday
Wednesday, 13 March 2019
Tuesday, 12 March 2019
Monday, 11 March 2019
First complete this assignment (the one we haven't had time for this week)
Read pages 236-238
Read pages 236-238
Come up with three examples for each of the non-traditional product life cycles:
Fad,
Niche,
Seasonal
Next,
Next,
Watch Commercials
Assignment:
You are to find 1-2 different commercials or ads. Include a link to the ads. With the ads, say who SPECIFICALLY (age, gender, income, region, etc) the Target Market is. Also include the possible strategies used in the ad.
Assignment:
You are to find 1-2 different commercials or ads. Include a link to the ads. With the ads, say who SPECIFICALLY (age, gender, income, region, etc) the Target Market is. Also include the possible strategies used in the ad.
Friday, 8 March 2019
Thursday, 7 March 2019
Oil Market Game.
Time to hand in ALL MISSING ASSIGNMENTS
Test next Monday
Invention
Innovation
(How inventions/innovations can have both positive and negative impacts)
An example for each of the following.
Changing how the product is used
Changing the package
Changing the Marketing Strategy
Changing the Distribution Process
Changing the Design
Changing the Manufacturing Process
Human Resourses
Skilled Labour
Unskilled Labour
employee turnover
Salary
Salary plus Commission
Hourly wages
Commission
Incentive Bonus
Performance Pay
Fee for Service
Stock Options
How to deal with Customer Complaints?
LEARN
Listen,
Empathize
Apologize
React
Now
Leader vs Manager
Democratic leader
Autocratic
Laissez faire
Raw Material
Processing
Grading
Quality Control
Labour
Capital.
Economies of Scale
Dis-economies of Scale
Natural Resources
Raw Materials
Labour
Capital
Information
Management
Purchasing
Processing
Quality Control
Production Cost
Landed Cost
Time to hand in ALL MISSING ASSIGNMENTS
Test next Monday
Invention
Innovation
(How inventions/innovations can have both positive and negative impacts)
An example for each of the following.
Changing how the product is used
Changing the package
Changing the Marketing Strategy
Changing the Distribution Process
Changing the Design
Changing the Manufacturing Process
Human Resourses
Skilled Labour
Unskilled Labour
employee turnover
Salary
Salary plus Commission
Hourly wages
Commission
Incentive Bonus
Performance Pay
Fee for Service
Stock Options
How to deal with Customer Complaints?
LEARN
Listen,
Empathize
Apologize
React
Now
Leader vs Manager
Democratic leader
Autocratic
Laissez faire
Raw Material
Processing
Grading
Quality Control
Labour
Capital.
Economies of Scale
Dis-economies of Scale
Natural Resources
Raw Materials
Labour
Capital
Information
Management
Purchasing
Processing
Quality Control
Production Cost
Landed Cost
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