Business Studies Emergency Sub Plan: "Entrepreneurial Insights"

Objective

Students will understand basic business concepts, including entrepreneurship, profit margins, and business ethics. They will engage in a warm-up activity, participate in a guided discussion, and complete an independent task that allows them to explore what makes a successful entrepreneur.

Materials/Resources

• Whiteboard and markers
• Printed trivia questions (or a projector for digital display)
• Paper and pens/pencils for each student
• Handout: Business Plan Outline Template (see example below)
• Handout: Characteristics of a Successful Entrepreneur

Business Plan Outline Template (example)

1. Business Name
2. Business Description
3. Target Market
4. Products/Services Offered
5. Marketing Strategy
6. Financial Projections

Characteristics of a Successful Entrepreneur (example)

• Risk-taking
• Innovation
• Strong work ethic
• Leadership skills
• Financial literacy

Lesson Plan Procedure

Opening/Lesson Hook (10 minutes)

• Warm-Up Activity: Business Trivia

  • Divide the class into small teams.

  • Provide each team with a set of trivia questions related to marketing and business concepts. Examples:

    • What does "ROI" stand for?
    • Who is known as the father of modern marketing?
    • Name a company that was founded by a teenager.

  • Teams take turns answering questions. Award points for correct answers.

  • Discuss the correct answers briefly, providing additional context.

Guided Practice (20 minutes)

• Main Lesson on Basic Business Concepts

  • Entrepreneurship Discussion

    • Define entrepreneurship and discuss its importance in the economy.
    • Highlight key traits of successful entrepreneurs using the provided handout.
    • Discuss profit margins and their significance in business decisions.
    • Introduce basic business ethics and their role in building a reputable business.

Independent Practice (20 minutes)

• Task: Outline a Business Plan

  • Instruct students to use the Business Plan Outline Template to create a simple business plan for a business they would like to start.
  • Encourage them to focus on creativity and practicality while incorporating what they've learned about entrepreneurship and profit.

Differentiated Activities

• Below Grade Level: Provide a fill-in-the-blank version of the Business Plan Outline Template to guide them through the process.
• At Grade Level: Allow students to fully utilize the template, encouraging them to think critically about their ideas.
• Above Grade Level: Challenge students to include a financial forecast section, with simple calculations for expected profits based on their proposed business model.

Closing (5 minutes)

• Share and Reflect

  • Invite a few students to share their business plans with the class.
  • Discuss the diversity of ideas and what makes each plan unique.

Extension Activities or Sample Questions

• Formative Assessment:

  • Ask students to list three characteristics they believe are essential for being a successful entrepreneur and explain why.

• Summative Assessment:

  • Have students present their business plans in a later lesson, evaluating each other's plans based on creativity, feasibility, and understanding of business concepts.

Reflection

• For Substitute Teacher

  • Monitor engagement during trivia and discussions.
  • Ensure all students have access to materials and provide assistance as needed.
  • Encourage respectful listening during presentations and discussions.

This emergency sub plan is designed to ensure a smooth transition for the substitute teacher and an engaging learning experience for students, regardless of when it is used throughout the school year.