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Inside Collection (Course): Economic and Management Sciences Grade 6
1. Market research
Case study
John (12) and Annette (10) Collins are invited to parties regularly. Although being fun, parties usually cause Mrs Collins a few headaches. She has to buy a gift, make it up appropriately and decorate it, and then she still has to find an interesting card to add to the parcel. The latter usually is more expensive than the gift.
John and Annette have now thought up a brilliant idea to solve Mrs Collins’ problem: to start their own business, making decorations in general and making and selling cards.
Step 1: Use the questionnaire (Annexure).
Provide questionnaires to the group of learners that your class identified as a potential market.
Step 2: Process the information
Draw up a table with a subsection for each of the categories listed below. This will help you to identify the most popular themes.
Categories:
Note down any other important information that you find in the completed questionnaires.
Sources consulted:
Which information should be included on an invitation card? Write this down in brief.
2. Making
a) Write out a complete list of all the materials that you needed to make your card. Also determine the cost of each type of material.
Cost price is what it costs you to make the card.
b) What were the different tools that you used to make the card?
c) How much time did you need for making the final card?
d) Let’s decide that you would like to make 20% profits on each card that you sell. Calculate the cost price for the card. (as in a) (as in a)
(NB. Selling price = Cost price + (20% of Cost price)
3. Profitability
Provide examples of decorations and discuss the types of entertainment that would be popular at a party. Arrange an exhibition of different types of decoration. List ideas of what is possible.
Which theme have you chosen?
Try to make use of recyclable materials. You have one week to do this. Your ideas
must be exhibited for evaluation on a table in room
on (date). The entertainment should be explained by
means of a poster that is exhibited together with the decorations.
Now is the time to ascertain whether your business idea is viable. Will it work? Is there a market for party accessories? To establish all of these, we are going to do a SWOT analysis.
WHAT IS A SWOT ANALYSIS? Answer the following questions:
Strong points: Where does your business venture address a gap in the existing market?
Weaknesses: Which part(s) of your business idea could possibly cause problems?
Opportunity: What do you see as the opportunity for selling your product? Will you find enough clients?
Threats: What threatens the success of the business? What suggestions are you able to make?
Begin work without delay!
| Learning Outcomes(LOs) |
| LO 3 |
| SUSTAINABLE GROWTH AND DEVELOPMENTThe learner will be able to demonstrate knowledge and the ability to apply responsibly a range of managerial, consumer and financial skills. |
| Assessment Standards(ASs) |
| We know this when the learner: |
| 3.1 understands and participates in the production process, from raw materials to final products, including waste products. |
| LO 4 |
| ENTREPRENEURIAL KNOWLEDGE AND SKILLSThe learner will be able to demonstrate entrepreneurial knowledge, skills and attitudes. |
| We know this when the learner: |
| 4.1 analyses personal strengths and weaknesses in becoming an entrepreneur; |
| 4.2 identifies a variety of possible business opportunities in the community (school co-operatives, sports, entertainment, tourism); |
| 4.3 designs an advertising campaign to promote a product that will generate a profit. |
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Last edited by Siyavula Uploaders on Apr 28, 2009 5:28 am -0500.