Introduction to Business Lemonade Stand Project lessons.engrade/lemonadestandproject

1. Introduction to Business Lemonade Stand Project http://lessons.engrade.com/lemonadestandproject Essential Question:How does a small-business operate?

2. Standards Addressed: 1.4 Economics and Financial Concepts (C): Students will understand the impact of global and domestic businesses, financial concepts, and integrated business models. They will demonstrate competency by using appropriate technology and other resources to solve business problems. 1.4.1 Business/Financial Relationships–analyze the financial implications of various functions of a business and describe how they interrelate 1.4.6 Financial Statements–explain how financial statements are necessary for business planning and for the continuous monitoring of business performance 1.4.7 Financial Systems–examine how financial systems and tools are used to solve business problems and to perform business transactions 1.6 Information Technologies (C): Students will understand technology used in business. They will demonstrate competency by utilizing technology to access, manipulate, and produce information. 1.6.1 Applications–utilize a variety of software programs to manipulate, analyze and produce data 1.6.2 Computer Operations–demonstrate proper use and care of equipment 1.6.3 Document Processing–create, format and produce documents 1.6.5 Information Resources–use electronic media, manuals, and tutorials as resources to access information 1.6.6 Presentation – develop and produce presentations utilizing electronic media. 1.6.7 Problem Solving–solve problems effectively by utilizing appropriate technology 1.6.10 Telecommunications–use technology to transmit and receive information 1.7 Leadership Development (C): Students will understand the personal qualities that are the basis for developing leadership skills. They will demonstrate competency by identifying and using leadership skills in a variety of individual and group work situations. 1.7.2 Decision Making – apply a rational decision-making process to solve common business problems in a dynamic environment 1.7.4 Motivation – demonstrate self-motivation and use motivation techniques in classroom and small group situations 1.7.6 Planning–identify the steps necessary to produce desired results and effect change

3. Project Objectives • Employ technology in the development of strategies for solving problems in the real world. • Use Microsoft Internet Explorer to observe data on the lemonade stand website. • Use a Microsoft Office - Excel spreadsheet to collect data and record outcomes. • Write a report using Microsoft Office - Word reflecting on their data and the outcomes. Present your report using Microsoft Office - PowerPoint showing your classmates your data and outcomes. •Understand the basic concept of profits and losses. • Purchase ingredients for making lemonade. • Determine the cost to produce one cup of lemonade. • Assess weather forecasts and customer behavior patterns to determine how much lemonade to make each day.

4. Lemonade Stand Websites • http://www.coolmath-games.com/lemonade/ • http://www.bconnex.net/~kidworld/java/lemonade/lemonade.htm • CLASS WEBSITE http://www.engrade.com/mkscott215

5. Introduction When you run your own business, you have to make a lot of important decisions based on math. You have to calculate how many supplies to buy, analyze the data you collect from your sales numbers every day, and make decisions about the future based on the conclusions you draw from your information. In this activity, you will each set up and run your own business—a lemonade stand. You will make all the business decisions about materials, costs, and how to make the lemonade. You will run the lemonade stand, record your data, and then analyze how much money you made or lost. The game is to see how much money you make or lose each day and overall. Remember that even if the lemonade you sell tastes really good, you may not necessarily sell a lot. Sometimes the weather affects how much lemonade people buy. You will get to see a weather forecast, but remember that weather forecasts are not always accurate. Before you start playing this game, you will read directions that will show you how to start and operate a business like this. During the time that you run your business, you will use an Office Excel data collection sheet to record your decisions, your data, and your outcomes. When the game is over, you will write a report about why you made a profit or why you did not.

6. Project Timeline Step 1 – Student teams to collect data from Lemonade Stand Website from November 30th to December 1st in class or home. Step 2 – Gather information for analysis on spreadsheet provided. Spreadsheet due not later than Friday, December 3rd. Step 3 – We will work on your reports and presentations each Wednesday. Step 4 – Report written in Microsoft Word document will be due Friday, December 10th and PowerPoint presentation due Friday, December 17th. Step 5 – Oral presentations December 20th – 23rd.

7. Written Report • Answer each question in three to five sentences, giving a full explanation. • Report will be completed in MLA format. Font type will be no larger than 12 point Times New Roman or Arial. Due no later than December 10th. • State your expectations or possible results in your introduction. • What do you expect to happen when you do certain things? • Questions to answer: • What trends did you identify from your data? • What did you do to your recipe when the weather was too cold? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • What did you do when the weather became hot and humid? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • How did you change your recipe when customers complained of taste? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • What did you do to your price when the weather was too cold? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results?

8. PowerPoint Presentation Slide One Title of presentation and names of team members Slide Two Give a general overview of your study Slide Three State your expectations or possible results in your introduction. What do you expect to happen when you do certain things?

9. PowerPoint Presentation (continued) • Slide Four • What trends did you identify from your data?

10. Slide Five • What did you do to your recipe when the weather was too cold? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • Use Excel and a graph to show your results.

11. PowerPoint Presentation (continued) • Slide Six • What did you do when the weather became hot and humid? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • Use Excel and a graph to show your results.

12. PowerPoint Presentation (continued) • Slide Seven • How did you change your recipe when customers complained of taste? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • Use Excel and a graph to show your results.

13. PowerPoint Presentation (continued) • Slide Eight • What did you do to your price when the weather was too cold? • Because of your decisions, did sales increase or decrease? • What other outside factors affected your results? • Because of your decisions, did sales increase or decrease? • Use Excel and a graph to show your results.

14. PowerPoint Presentation (continued) • Slide Nine • What did you do when the weather became hot and humid? • Because of your decisions, did sales increase or decrease? • Use Excel and a graph to show your results.

15. PowerPoint Presentation (continued) • Slide Ten • How did you change your recipe when customers complained of taste? • Because of your decisions, did sales increase or decrease? • Use Excel and a graph to show your results.

16. PowerPoint Presentation (continued) • Slide Eleven • What did you do to your price when the weather was too cold? • Because of your decisions, did sales increase or decrease? • Use Excel and a graph to show your results. • Final Slide • References

17. Expository Composition Rubric • Student uses a variety of strategies to organize information (note cards, outline, graphic organizers). • Student evaluates and presents information using a variety of sources to support the thesis. • Student documents and presents sources in a consistent and standard format, utilizing a works cited page and proper citations within the text. • Student creates a clear, well-developed thesis statement. • Student presents organized writing (effective transitions, coherent well-structured paragraphs). • Student utilizes proper language conventions (grammar, mechanics, syntax). • Student constructs adequate arguments that support the thesis. • Student formulates an accurate and well-developed conclusion.

18. Expository Composition Rubric • Level 4 indicates competence in all standards/benchmarks and exceptional performance in a few. • Level 3 indicates general competence in all standards/benchmarks. • Level 2 indicates general competence in most standards/benchmarks with difficulties in some. • Level 1 indicates difficulties in a majority of standards/benchmarks.

19. Oral Presentation Rubric • Student team will present their findings before the class. The student team: • demonstrates accurate knowledge of the topic. • organizes most information and stays on the topic. • engages the audience by making and maintaining eye contact and using movement (facial expressions, posture, gestures) to focus attention and interest. • speaks clearly/loudly. • uses visual aids moderately effectively and/or other methods of delivery. • demonstrates appropriate appearance.

20. Oral Presentation Rubric • Level 4 indicates competence in all standards/benchmarks and exceptional performance in a few. • Level 3 indicates general competence in all standards/benchmarks. • Level 2 indicates general competence in most standards/benchmarks with difficulties in some. • Level 1 indicates difficulties in a majority of standards/benchmarks.