Name: ______________________
Period: _____
Economics 12
Mr. Kirby-CHS
“Shark Tank”-Entrepreneur Project Rough Draft Outline
(50 Points-Summative)
Entrepreneurs are the “risk takers” of the American economy. Without these “risk takers” many
businesses and corporations that comprise the backbone of this country’s financial system
would cease to exist. Everyone in a mixed-market economy like our own has a role. The
entrepreneurs have theirs, the consumers theirs, and the government theirs.
Task:
Your task is to develop a fictional company which specializes in one particular product and
create a Business Plan for that product and create a Group Persuasive Presentation using
technology. You and your group members are the entrepreneurs. Your product must be one
that does not exist yet to your knowledge and is plausible. This project is to be taken seriously.
It is a major portion of your Economics grade (200 points)! You will be given three days with the
“Chrome Book Lab” and allotted a time of 10-15 minutes to present your plan to the class.
Resources available on Mr. Kirby’s Website:
 All Shark Tank Business Plan/Project Directions Project Rubrics
 Unit 3-5 thru 3-7 Power point Lessons (“Business and labor”)
 “Business Plan” Power point
Group Guidelines:
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Read over Rough Draft Handout and rubric as a class and ask questions
Complete INDIVIDUAL ROUGH DRAFT ASSIGNMENT (50 PTS.) (attached)
Review Business Plan Power Point Presentation
Assign roles and responsibilities to each group member (see group assessment rubric)
Establish deadlines and daily goals
Begin Working on GROUP BUSINESS PLAN (50 PTS.) (we will have “Chrome Book Lab”)
Begin work and conduct research on GROUP POWER POINT PRESENTATION (100 PTS.)
Computer generate (Chrome Books),Compile work and develop class presentation
Finalize presentation details and present to the “Sharks” (members of the class)
Section One: Key Business Vocabulary
Directions: Define in a COMPLETE SENTENCE the following key terms relating to
business.
 Sole proprietorship:
 Horizontal Mergers:
 Partnerships:
 Vertical Mergers:
 Corporations:
 Non-profit Organizations:
 Franchises:
 Monopoly
 Monopolistic Competition
 Oligopoly
 Perfect Competition
 Barriers to Entry
 Price Fixing
 Cartels
 Collusion
 Cost-benefit analysis
 short-term financing
 Revenue
 intermediate-term financing
 Profits
 long-term financing
 Test Marketing
 Market Research
 Price leadership
 Market Surveys
 Product life cycle
 Wholesalers
 Retailers
Section Two: Key Business Questions:
1. What type of business does you and your partner(s) plan on creating (there are three
major types to choose from). Why did you choose this type of business? Please explain
in a detailed, well-crafted paragraph.
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2. Why/how did you choose the business/product that you did for this project? What
kind of market structure are you entering? (Oligopoly, monopolistic competition etc.)?
What makes your product/service stand out compared to others (what sets it apart
from the rest?) so that people will demand your products or services. What kind of
competition exists in the market and what would you need to get your business
started in this market?
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3. How will you get people to know your business exists, how will you market your
product/service and advertise it to your target audience?
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4. How is your business going to be set up? Will your business be set up in a specific
location or will it be online? Who will be hired, how much will you pay them, what
hours will you be open, who will manage your inventory/finances, how will people pay
for products/services?
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5. What are some of the unknown and operational “pitfalls” associated with your kind of
business/product? You will need to know this so that if something happens that hurts
your business you have a plan to bounce back and recover (investors also want to
know about this).
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“Shark Tank”-Entrepreneur Rough Draft Outline Rubric: Econ 51 (B).
5 - Exceeds
4 - Proficient
3.5 - Progressing
3 – Emerging
ALL 28 business
vocabulary words are
correctly defined in a
complete sentence.
ALL five questions are
answered in a wellcrafted, detailed and
thoughtful paragraph
(At least 5-6
sentences).
ALL 28 business
vocabulary words are
correctly defined in a
complete sentence.
ALL five questions are
answered in a, detailed
paragraph (At least 4-5
sentences).
At least 21 business
vocabulary words are
correctly defined in a
complete sentence. At
least four questions
are answered (At
least 3-4 sentences).
Less than 21 business
words defined
correctly. At least three
questions answered
partially (2-3
sentences).