Entrepreneurship Lesson Plan

Here I would like to present the lesson plan of classes which took place in the Polish school. The topic was What is entrepreneurship? Enjoy and use it!

Entrepreneurship Lesson Plan

 

Topic: What is entrepreneurship?

 

Time: 2×45 minutes

 

Objective:  At the end of these lessons, the students will be able to list entrepreneurial traits, give examples of famous entrepreneurs, discuss the definitions of basic economics terms.

 

Materials

 

Handout 1 The text  „ Have you ever been to a Zara store?” ( New English file-Pre-Intermediate, Student’s Book, C. Oxenden, Ch. Latham-Koenig, P. Seligson, Oxford University Press)Pretest survey on attitudes and list of questions.

 

Handout 2 The list of tips for young entrepreneurs by the Virgin Founder Richard Branson.

 

Handout 3 Two envelopes: one contains the economics term and the other contains the definitions of these terms.

 

Differentiation (addressing all learners’ needs): different learning styles (visual- handouts, poster; auditory–listening and speaking in group, class discussion), targeted questioning.

 

Procedure

 

Activity 1 The students will be asked to brainstorm in groups the idea what it takes to be entrepreneurial and to give examples of famous businessmen and their companies. Then each group presents their ideas to other groups. The teacher writes down their answers on the blackboard.

 

Activity 2 The students read individually the text  „ Have you ever been to a Zara store?” (Handout 1). The teachers asks the students to prepare in groups answers to the questions. Then each group presents their answers.

 

Activity 3 The students are asked to read the list of tips for young entrepreneurs by the Virgin Founder Richard Branson. (Handout 2). First they read the text quickly to find out which one resonates with them. After short discussion they read the text again to make a list of key vocabulary which represents the characteristics needed for entrepreneurship. Then each group presents their work.

 

Activity 4 Each group is given two envelopes: one contains the economics term and the other contains the definitions of these terms.(Handout 3) Their task is to match the terms with their definitions. The students may use printed and online dictionaries, and other websites to find out the meaning of new vocabulary. The teacher assists the students in helping them explaining the economics terms. Each group makes a poster using the given materials.

 

Assessment

The students discuss in groups their attitudes towards work and entrepreneurship and try to answer the questions: “Would you like to set up a company one day? Why (not)?”, “What kind of business would it be?”, “What are the advantages and disadvantages of being an employer?” The representative of each group summarizes the answers which were presented in their group.

 

 

Handout 1

a) Who is Amancio Ortega?
b) What is unusual about him?
c) What was his first job?
d) When did he open the first Zara shop?
e) Where are there the Zara shops now?
f) What are the secrets of Zara’s success?


 

Handout 2

The Virgin Founder Richard Branson recently answered a reader’s question by listing six things that every fledgling entrepreneur should remember when starting up…

Read his six quick tips and let us know which one resonates with you

1. Think about what drives you

When you’re considering which idea to turn into a business, think about the subjects and problems that interest you most. Is there an industry you love? A talent you have? A cause that you are 110 per cent behind? Don’t start a business just because you think it’ll turn a profit; if you’re not in love with the idea, you won’t move mountains to make it happen.

2. Start at your doorstep

Now that you have decided on the area you’d like to focus on, look around yourself. What is the market missing that it desperately needs? Which services do you and your friends use that are lackluster and could be hugely improved? Think about how your business could help your street, your neighbourhood and your city. From there, you might someday expand to bigger markets.

3. Shake things up

As you design your product or service, remember your resolve to serve the public; business is about improving other people’s lives. Hopefully, once you’ve done that, more money comes in than goes out.

From Virgin Records and Virgin Atlantic to Virgin Money and Virgin Active, our team has always launched businesses out of a genuine desire to disrupt the status quo and improve things for customers.

4. Listen to advice, not to naysayers

When you’re just starting out, you should ask those with experience in your field for advice, especially your parents. But be careful not to confuse discouraging comments for good advice. Lots of people will tell you that your idea won’t work, or that it has been done before. When I started out, I lost count of the people who told me that I wouldn’t succeed.

5. Stay focused – and motivated

You need to dream big and have lofty goals – but in your first year, concentrate on establishing your business and surviving. Keep your eyes on the prize and on day-to-day operations, setting small targets for each day, then each week, each month, each quarter and each year. Write them down and then tick them off. You will be amazed at how much satisfaction you get from this.

6. Love what you do

Whatever you’re doing in business, it should be fun. That has always been a priority at Virgin, and it’s a vital component of our success. I love what we do, our employees love what we do, and so our customers love what we do, too.

Resources: https://www.virgin.com/entrepreneur/richard-branson-my-six-tips-for-every-young-entrepreneur

 

Handout 3

 

Price

a payment or compensation given by a customer in return for goods or services

 

Target market

is a group of customers for which a business makes products or offers services

 

Customer– sometimes known as a client, buyer, or purchaser

 

Market

a place where buyers and sellers meet, exchanging of goods, products, services, it can be free or black.

 

The law of supply and demand

low supply and a high demand make prices go higher, and in contrast, high supply and low demand make prices go down

 

Supply

all products and services available to customers

 

Demand

is what people need, want and wish to buy

 

Competitions-

the rivalry between companies selling similar products and services with the goal of achieving profit

 

Entrepreneur

a person who starts a business and is willing to risk loss in order to make money. Somebody who organizes, manages, and assumes the risks of a business or enterprise.

 

Employee

a person employed for wages or salary, is a person working for another person or a business firm for pay.

 

Business

an activity of making, buying, selling goods or services for money, a business is a commercial organization such as a company, shop/store or factory.

 

Expense

the economic costs that a business must have in order to make a product or service.

 

Revenue

all the money that is brought into a company by its business activities, is calculated by multiplying the price at which goods or services are sold by the number of products sold.

 

Profit

profit is the money a business makes after paying all the expenses, it is revenue – expenses, it is the main goal to make business

 

Unemployment rate

is the percentage of the total number of people out of job but actively looking for employment and wanting to work


 

Goods

all products or services that are bought by people

Economy

the system by which a country’s wealth is produced and used, the management of economic affairs.

 

Economics

the scientific study of the way in which health is produced and used

 

Freelancer

is a person who is self-employed and doesn’t work for one employer for a long time, usually professions such as music, writing, acting, computer programming, web design, translating and illustrating.

 

Business plan

a written document describing the nature of the business, the sales and marketing strategy and the financial plans (profit and loss).

 

CV

a document which describes some personal information, education, qualification and work experience

 

Cover letter (covering letter)

a document that you send when you look for a job

 

Job interview

a conversation between a job applicant and a representative of an employer to check if the applicant should get a job

 

Sole trader (sole proprietor)

a business that is legally owned and controlled by one person, typical of small shops and self-employed people

 

Partnership

owned by two or more people, quite popular in the professions as doctors, lawyer, accountants

 

Private limited company

it has a legal identity separate from the people who own it and manage it

 

Public limited company

a big business that can offer its shares to the public on the stock exchange

 

Co-operative

business owned and run by a group of people to give benefits to the members

 

Public corporation

a business set up by the government

 

Macroeconomics

the study of economics that looks on the whole economy, macroeconomics looks at the big picture, it analyzes unemployment, price levels, economic growth, economic decline.

 

Microeconomics

the study of economics that looks at how households and businesses make decisions and behave in the marketplace, e.g. how firms decide how many products to make and at what price to sell.

 

Recourses: www.investopedia.com, www.en.wikipedia.org, www.amosweb.com

Leave a Reply

Your email address will not be published. Required fields are marked *