BICU
Business Ownership
Name
Date
Day AC BD Block
Make sure to save all items from this unit in your “Business Ownership” Folder on your
computer. You can save each as the activity number or title listed.
Section
Activities
Check-off
Part I: Vocabulary
1. Flash Cards
Part II: Advantages and
2. Advantages and Disadvantages
Disadvantages of Business
Enumeration
Ownership
Part III: Management and
3. Management Enumeration and Summary
Entrepreneur Functions
4. Entrepreneur Characteristics
5. Entrepreneur Article Question
Part IV: Business
6. Ownership Opportunity Short Answer
Ownership Opportunities
Questions
7. My Ownership Choice Summary
Part V: Business Plan
8. Business Plan Reading
Culminating Activity
Entrepreneur PowerPoint or Women
Entrepreneur Summary
Final Project
New Product Project
Part I: Vocabulary
Activity 1 Directions:
Read the following list of vocabulary words. When you are finished, create flash cards for each
vocabulary word, writing the word on the front of your index card and the definition on the back.
Business Plan: written description of the business idea and how it will be carried out
Delegate: assign work or appoint another person to do something for you
Entrepreneur: a person who recognizes a business opportunity and organizes, manages and
assumes the risks of a business enterprise, with the intent of increasing the market value of the
business
Entrepreneurship: the process of starting and operating your own business
Feedback: visual or verbal communication to speakers in response to their messages
Franchise: legal agreement to sell a parent company’s product or services in a designated
geographic area.
Implement: to carry out, or complete, a plan of action
Leadership: providing direction and vision to individuals, groups, or teams to accomplish
important goals
Small Business: an independently owned business that usually has the owner as its manager
Business Ownership Tab, Business Ownership 1
Small Business Administration (SBA): government agency that provides services and helpful
publications for small businesses
Part II: Business Ownership Advantages and Disadvantages
Activity 2 Directions:
There are a variety of advantages and disadvantages to starting your own business. One
advantage is the ability to make your own decisions. One disadvantage would be long and
irregular hours. Brainstorm a list of five advantages and five disadvantages to starting your own
business and type in an enumeration. Use proper enumeration format. Save as Activity 2 in
your Owning and Operating a Business Folder.
Part III: Management/Entrepreneur Functions
Planning: Setting objectives and making long-and short-term plans for meeting the objectives
Organizing: Obtaining and coordinating resources so that a business’s objectives can be met
Leading: Influencing, guiding, and directing people under one’s management to carry out their
assigned tasks
Controlling: Setting standards for work, evaluating performance, and solving problems that
could prevent certain tasks’ completion
Activity 3 Directions:
Create an enumeration containing at least ten skills and/or abilities that a manager should
possess. Print out the list and then write an H next to those skills or abilities that you think you
have and put an X next to the ones that you think you need to work on. Then, using Microsoft
Word, type at least a two paragraph summary.
 1st paragraph - a plan of how you could develop three of those skills that had an X next to
them.
 2nd paragraph - what type of manager you would be if you were to open up your own
business.
Save as Activity 3 in your Owning and Operating a Business Folder.
Business Ownership Tab, Business Ownership 2
Activity 4 Directions:
Each of the statements below represents a characteristic helpful to entrepreneurs. Read through
the list, and record you reactions.
If you feel a particular statement sounds a whole lot like you, circle 5.
If you feel it doesn’t describe you at all, circle 1.
If you feel it only partially describes you, place yourself somewhere between these two
extremes by circling a number from 2 to 4.
Least
Like
Me
Probably
Not Like
Me
Maybe
Like
Me
Could Be
Like
Me
Most
Like
Me
1.
I keep working even when it
is difficult.
1
2
3
4
5
2.
I’m creative.
1
2
3
4
5
3.
I take responsibility for my
actions.
1
2
3
4
5
4.
I am curious about many
things.
1
2
3
4
5
5.
I set goals for myself and
work toward them.
I like to work on my own
schedule.
1
2
3
4
5
1
2
3
4
5
7.
I set high standards for
myself.
1
2
3
4
5
8.
I believe in myself and what
I’m doing.
1
2
3
4
5
9.
I like a challenge.
1
2
3
4
5
10.
1
2
3
4
5
11.
I’m a happy person but I
always look to achieve more.
I like to compete.
1
2
3
4
5
12.
I like to take risks.
1
2
3
4
5
6.
Based on your responses above, do you believe you have the characteristics to become a
successful entrepreneur? Explain why or why not.
Business Ownership Tab, Business Ownership 3
Activity 5 Directions:
Read the article entitled, “Are You Cut Out to be a Successful Entrepreneur?” List the eight
personality traits highlighted in this article with a one – two sentence description for each trait.
1.
2.
3.
4.
5.
6.
7.
8.
Business Ownership Tab, Business Ownership 4
Part IV: Business Ownership Opportunities
There are four ways to enter business:
1.
Purchase an existing nonfranchise business
2.
Take over the family business
3.
Start a new business
4.
Purchase a franchise business
Activity 6 Directions:
Answer the questions below.
1.
What do you think are two benefits to opening a franchise?
2.
What do you think are two benefits to starting a new business?
Activity 7 Directions:
If you had the opportunity to open up your own business, what would you choose and why?
Using Microsoft Word, you will complete the following:
 Store Description:
o explain what type of business you would open and why
o which way that you would choose to enter business (purchase an existing nonfranchise, take over a family business, start a new business, purchase a franchise)
 Store Location: Where you would open your business and why
 Product Description: description of the types of products you would sell
Save as Activity 7 in your Owning and Operating a Business Folder.
Part VI: Parts of a Business Plan
Activity 8 Directions:
Read and understand the various parts of a business plan.
1.
2.
3.
4.
5.
6.
7.
Summary – overview of the plan
Company Description – type of company you plan to start
Products and Services – kinds of products and services that will be sold
Marketing Plan – description of customers, competition, marketing activities and timeline
Legal Plan – organization of company
Management and Operating Plan – description of personnel, company’s daily operations,
facilities, etc
Financial Plan – financial needs, financing, and projections for revenues, costs and profits
Business Ownership Tab, Business Ownership 5
Culminating Activity
Culminating Activity Directions:
Choose one of the following topics:
1.
Researching a Successful Entrepreneur
Jeff Bezos is the founder of Amazon.com. You may choose Jeff Bezos or another
entrepreneur to research that you get approved by your teacher. Complete a PowerPoint
presentation that includes at least five slides. Remember to be creative!
a. The first slide should include the Entrepreneur’s name, your name and block and the
date
b. The second slide should include a history of the Entrepreneur
c. The third and fourth slide should include information about the entrepreneur’s idea
(why, when, where, how) – You may include more slides here.
d. The fifth slide should include any sources (web sites, etc.)
2.
The rising number of women entrepreneurs
Find at least two articles about women entrepreneurs and write a one page synopsis.
Remember to cite your sources.
Save as Culminating Activity in your Owning and Operating a Business Folder.
Final Project
Final Project Directions:
It is important as an entrepreneur to look into the future to find new market ideas. You will need
to brainstorm different ideas for a new product to offer your target market: teenagers.
Once you have brainstormed a list of ideas, choose one idea and develop a survey for teenagers
that asks a variety of general questions regarding your product. You will want to determine if
there would be interest in your new idea and what specifically you could do with this product to
make it attractive to your target market. Based on the results of your survey, you will need to
develop the specifics of this new product, taking into account the feedback that you received
from the students regarding their needs and interests. Your survey should only include yes/no
questions or questions that have options that can be circled. Your survey should follow an
enumeration format.
Once you have gotten at least five people to complete your survey, put your results together in
the following project:
Title Page:
Your name, name of product, date, and class block
Part I:
Description of Product Choice
Part II:
Survey Results (include a blank copy of your survey and describe the
results of your survey)
Part III:
Picture of Product (make sure to label the product and/or include the features)
Save as Final Project in your Owning and Operating a Business Folder.
Business Ownership Tab, Business Ownership 6