In this 21st century learning simulation, business development blends several subjects in a multi-dimensional, engaging way. Students develop a deeper understanding of how the business world works as they develop their own business. Students discuss target market, develop a survey to determine shopper interests, analyze survey data and then design and develop a prototype.
Utilizing protoype results, students determine cost based on market saturation and production costs and then create a slogan and advertising campaign. During the event, students figure out their profits and adjust product price based on market demand during the sale day. Students also have to figure out their net profit, after subtracting money spent, taxes, and rent. Taxes were the biggest reality check!
This is a great opportunity for kids to experience a real-world simulated activity, and to share an experience with the lower grades and their families (our “shoppers”), while learning about business, reading strategies, math, and management.