ENTREP LESSON 2
ENTREP LESSON 2
Review Motivation:
[Teaching Strategy: Role-Playing]
Assessment Questions:
1) What are the key components of a business plan?
2) How does market research impact a business plan?
3) Why is financial forecasting important for a new business?
Assessment Questions:
1) What are the key elements of a successful marketing campaign?
2) How does branding influence consumer behavior?
3) Why is target audience analysis important in marketing?
Assessment Questions:
1) How did your team approach decision-making during the simulation?
2) What were the challenges you faced while managing the virtual business?
3) What strategies were effective in achieving success in the game?
ANALYSIS:
Activity 1 - Students demonstrated understanding of business planning concepts.
Activity 2 - Creativity and teamwork skills were evident in the marketing campaign
designs.
Activity 3 - Decision-making and collaboration skills were honed through the
simulation game.
ABSTRACTION:
Students learn that effective business management requires strategic planning,
creativity in marketing, and critical decision-making skills.
Supporting Material 1 - "Business Model Generation" by Alexander Osterwalder
Supporting Material 2 - "The Lean Startup" by Eric Ries
APPLICATION:
[Teaching Strategy: Inquiry-Based Learning]
Task 1 - Conduct a market research survey for a new product idea.
Task 2 - Analyze financial statements of a local business to identify areas for
improvement.
ASSESSMENT:
[Teaching Strategy: Discussion]
[Instructional Materials: Assessment Sheets]
Question 1 - What are the key financial indicators used to evaluate business
performance?
Question 2 - How can effective communication skills benefit a business manager?
Question 3 - Why is adaptability important in managing a business?
H.O.T.S.:
Question 1 - Explain how changes in market trends can impact a business's financial
stability. (Analyzing)
Answer 1 - Changes in consumer preferences can lead to shifts in demand, affecting
a company's revenue streams and profitability.
Question 2 - Evaluate the ethical implications of a business decision on long-term
sustainability. (Evaluating)
Answer 2 - Ethical decision-making ensures trust and credibility with stakeholders,
contributing to the business's reputation and longevity.
Question 3 - Propose innovative strategies to enhance a business's competitive
advantage in a saturated market. (Creating)
Answer 3 - Implementing unique value propositions and leveraging technology can
differentiate the business from competitors.
Assignment:
1. Develop a marketing plan for a small business in your community.
2. Analyze a case study of a successful entrepreneur and identify key strategies for
business growth.