Building a Global Community One Local Business at a Time
Christine Edelmann
Provide an overview of your proposal.
Students in cooperative learning groups will create businesses. To create the business they must
prepare a business plan that provides market analysis, profit estimates, factors of production,
social entrepreneurship, advertising/ marketing, supply & demand analysis and a budget. With
those plans, they will present their businesses to a board of business leaders and school leaders
for approval. The businesses will then be put into action. Students will work to earn money to
purchase the animal of their choice for Heifer International. We will study Heifer International’s
mission and the impact that a relatively small donation can have on a community. Students will
participate in blog posting throughout the project to track their business growth and their
learning. Then they will prepare a final report and present those results to the board. My goal is
for students to see social entrepreneurship in action and be active participants in the process.
This will be a hands on activity different than any project they have had.
What groups of students (age, grade level, subject areas) and how many students will
participate in the program?
Forty-two (42) eleventh grade students will participate in the project. They are enrolled in my
Honors Economics course that takes place during the spring semester. Of those students, twelve
(12) are African American, five (5) are Hispanic and twenty-three (23) are Caucasian. Twentyfive (25) are males and seventeen (17) are females. Our school is 54% free and reduced lunch.
How will the students benefit from this activity?
Students will gain many skills from this project. By creating their own business and seeing it
come to life, students will gain confidence in their ideas and will develop interpersonal
communication skills. The opportunity for student growth is endless with this project! Beyond
the numerous economics skills that will be learned, students will be more college and career
ready by completing this project. They will develop their writing skills through creating their
business plan and speaking and listening skills through marketing and selling their products.
Their interpersonal communication skills will also improve through working with a team
throughout the project.
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Provide anticipated chronology of events/activities and dates.
January –
Topic
Introducing Heifer
International
Choosing a
Business
Creating a
Business Plan
Creating a Budget
Blog Posts
February
Topic
Proposing the
Business
Starting the
Business
Blog Posts
March
Topic
Running the
Business
Making the
Donation
Final Report
Activities
Students will complete lessons to learn about the impact that a relatively
small gift can have on economic growth.
Students will study at least one country that Heifer operates projects in and
report on the general economic conditions of that country.
Students will use the PACED decision making model to choose a business
idea.
Students will participate in cooperative groups and create business plans
using available technology to research & produce plans. Required
information will include profit estimates, marketing plan, overview of
management, target market, description of product and factors of production.
Local business owners will be brought in to discuss their business plans and
answer questions for students.
Once the business plans are created, students will create a budget that details
their expenses and justifies each item they wish to purchase to create their
business along with anticipated revenues.
Student groups will complete weekly blog posts updating readers on their
progress.
Activities
Students will create a final business proposal presentation. Presentations
will be made to a panel of business leaders. The “winning” team will be
presented with incentives.
Students will carry out their business plans and run their businesses.
Student groups will complete weekly blog posts updating readers on their
progress.
Activities
Students will continue to run their businesses and complete blog posts.
Students will complete a PACED decision making model to decide what
they would like to donate through Heifer International. They can choose to
combine their monies to make a group donation.
Students will complete a final report and present it to a panel of judges. The
“winning” group will receive gift card incentives.
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Blog Posts
April
Topic
Heifer International
Trip
Final Blog Post
Student groups will complete weekly blog posts updating readers on their
progress.
Activities
Students will travel to Little Rock to visit Heifer International’s
headquarters to present checks of their profits. We will tour the
headquarters and meet with Heifer International employees.
Student groups will complete a final blog post that summarizes their
learning and includes information about the trip to Heifer International’s
headquarters and their donation.
Describe or list how the grant money will be used.
The grant money will be used to purchase the following items:
 The poster markers will be used to create presentation boards and for brainstorming ideas
on large chart paper.
 Paper will be used to make marketing materials as well as report presentations.
 Incentive gift cards will be used to reward winners from each presentation.
 Supplies for small group selected student businesses will be used for the raw materials for
student businesses. It is vital that students have autonomy to choose their business and apply
to spend their budget on needed materials. Students will practice decision making and
budgeting by creating their budget that requests the necessary materials for creating their
business.
 Photo paper will be used to print photos to include on their final presentation boards.
 Presentation boards will be used for students to produce business proposals and final
projects. These projects will be completed and given to a board of school and business
officials.
 Double sided and carpet tape will be used for students to create their presentation boards
and marketing materials.
 Scissors will be used for students to create their presentation boards and marketing materials.
 Butcher paper will be used for students to develop their idea and business. Students will
have brainstorming sessions and work to develop business plans using the chart pads.
 Entrepreneurship Economics will serve as a curriculum guide for the project.
 Gas for bus travel to Little Rock will ensure that we are able to travel to Heifer Headquarters
to donate our profits.
Please describe the following:
Goals and Objectives
The goals and objectives for this project are for students to experience creating and running a
“real world” business and to become social entrepreneurs. By becoming social entrepreneurs,
students will gain knowledge and true understanding of many economics related standards. Each
day of this project, students will engage in interpersonal communication to practice their
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entrepreneurship skills and to create a successful business. Students will also gain a sense of the
global community by providing an opportunity to benefit people and communities around the
world.
Economic Content
The following Arkansas Economics Frameworks will be addressed:
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EF.1.E.1 - Explain the role scarcity and opportunity cost plays in making choices using the
PACED decision making model
o individuals
o businesses
o governments
EF.1.E.2 - Describe the use of cost/benefit analysis in making choices
o individuals
o businesses
o governments
EF.1.E.3 - Explain the concepts of tradeoffs (e.g., budget, career choices, earnings potential,
education and/or training)
EF.1.E.4 - Discuss individual or societal economic choices, which are guided by incentives
and based on rational self-interest (e.g., employee benefits, tax incentives)
EF.2.E.1 - Analyze the four factors of production
o natural resources
o human resources
o capital resources
o entrepreneurship
EF.2.E.2 - Examine the three basic economic questions that must be answered by every
economic system
o What goods and services are to be produced and in what quantities?
o How will the goods and services be produced?
o For whom will the goods and services be produced?
EF.2.E.3 - Compare and contrast the four major economic systems
o command economy
o market economy
o mixed economy
o traditional economy
EF.2.E.3 - Compare and contrast the four major economic systems
o command economy
o market economy
o mixed economy
o traditional economy
EF.3.E.2- Examine trade barriers
o tariffs
o quotas
o embargos
o preservation of standards (protectionism)
o subsidies
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EF.3.E.4 - Summarize global patterns of economic activity
o world trading partners
o trading blocs
o regional trade agreements
o regional trade organizations
o free trade
MI.4.E.1 - Illustrate the effects of supply and demand in determining equilibrium price and
quantity using a supply curve and a demand curve
MI.4.E.2 Demonstrate changes in supply and demand that influence equilibrium price and
quantity using a supply curve and demand curve
o shifts in supply and demand
o changes in quantity supplied and quantity demanded
o shortages and surpluses
MI.4.E.3 - Describe the signals sent to buyers and sellers by price (e.g., cost, availability)
MI.4.E.4 - Determine the effect of consumers on production in a market economy
MI.5.E.1 - Compare and contrast major forms of business organizations
o sole proprietorship
o partnership (e.g., limited, general)
o corporation (e.g., public, private, hybrid business)
o non-profit
MI.7.E.2 - Analyze the influence improved factors of production have on the productivity of
individual industries
(e.g., technology, education, training, specialization, division of labor)
MA.8.E.1 - Analyze the following economic indicators used to measure economic
performance
o Gross Domestic Product (GDP)
o Gross Domestic Product per capita
o Real Gross Domestic Product
o unemployment rates
o Consumer Price Index (CPI) (e.g., inflation)
o stock market
MA.9.E.1 - Discuss the roles of governments in the economy
o establish and enforce private property rights and the law
o deal with external costs and benefits
o ensure market competition
o stabilize the economy
o consumer protection
o promote economic security
o provide public goods and services
o regulatory agencies
o redistribution of income
PFM.11.E.4 - Evaluate the importance of interpersonal skills in the workplace (e.g.,
workforce readiness skills, ethics)
The following Arkansas Entrepreneurial Experience Standards will be covered:
 1.3 – Name the characteristics of entrepreneurs
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o Self-confident
o Independent
o Perseverance
o Determination
o Goal-oriented
o Decision makers
o Technology friendly
o Set high standards
o Act quickly
o Obtain industry certifications
1.4.1 – Identify characteristics of various entrepreneurial enterprises:
o Corporation Limited Liability Company (LLC)
o Partnership
o Sole Proprietor
o Franchise
o Home Based Business
o S-Corporation
3.5 – Describe supplies and equipment information to include in a business plan
o List of suppliers
o Inventor
o Plan for maintenance and
o Expansion needs
3.5.1 – Develop purchasing procedures
3.5.2 – Create a clear and concise plan addressing the supply and equipment needs for the
classroom based enterprise
3.6 – Discuss components of an organizational chart for a business plan
o Job titles
o Job description
o Future needs and job descriptions
3.8 – Identify the elements of a financial proposal
o Projected startup costs
o Methods and sources of funding
o Fee structures (cost analysis)
o Projected income
3.9.1 – Chart income and expenditures for each product of the classroom based enterprise for
a specific period of time (weekly, monthly, quarterly)
3.11 – Describe advertising and recruitment options
o Advertising plan
o Special events
o Sample advertisements
3.11.1 – Develop an effective advertising/ marketing plan
3.11.2 – Use technology to create advertising for the classroom based enterprise
4.2.1 – Demonstrate the ability to run a classroom based enterprise
4.2.2 – Acquire sales skills
4.2.3 – Analyze ethics in the workplace
4.2.5 – Practice workplace etiquette
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Evaluation Procedures and Instruments
Throughout the process, students will complete weekly updates on the classroom blog. Students
will also be assessed through the successful completion of business plans, budgets, and final
business reports. I will also observe students throughout the process and score them on a
Common Core State Standards Speaking & Listening Standards. For the culmination of the
project, students will complete an online survey with their thoughts and knowledge gained from
the project.
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2014-2015 Economic Education Grant
Budget Request Form
Total requested: $750.00 ($750 maximum)
Applicant 1: Christine Edelmann
Please itemize and provide complete information in each section. Remember to include tax
and shipping where applicable. If funds are not requested for a particular area, please
indicate by entering $0. Attach additional pages if necessary. Partial funding may be
provided. Applicant may be contacted for further information.
Budget Summary
Line Item
Requested Amount
Total
Student Activity Supplies (consumable)
Supplies
Subtotal
$675.00
Instructional Supplies
Books/charts/posters
Video/software
Supplies (consumable)
Subtotal
$25.00
Student Field Trip
Field trip (up to $250)
Subtotal
$50.00
Grand Total of Grant Request:
$750.00
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Detailed Budget Request
Please provide a budget justification detailing how you arrived at the dollar amount listed in
the Budget Summary. For example, under “Instructional Supplies,” you will list the items in
each subgroup to be purchased and the amounts they each cost.
Student Activity Supplies (consumable)
Poster Markers
Paper (colored, construction, card stock)
Incentives (gift cards – 10 $5 gift cards)
Supplies for small group student selected businesses to include
($47.38 per team for 8 teams):
 Jewelry making materials
 Ingredients for bake sale items
 Car wash materials
 Canvases and art materials
Photo Paper
Presentation Boards
Tape – Double Stick & Carpet
Scissors
Butcher Paper
Cost
$21.00
$50.00
$50.00
$379.00
$15.00
$60.00
$50.00
$20.00
$30.00
Instructional Supplies
(Books, charts, posters, video, software, supplies, etc.)
Entrepreneurship Economics (Council of Economic Education)
$25.00
Student Field Trip
Gas for Bus Travel
$50.00
TOTAL
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