BBI2O Introduction to Business

BBI2O Introduction to BusinessMr. Ruston

Final Summative EvaluationJanuary 2014

Final Summative Evaluation

You will choose between the following two options:

Choice A / OR / Choice B
“Product Development”
Synopsis of project
Choosing from a list of product ideas, or using your own unique idea, you develop the product through several of the business functions covered in class this semester. / “BBI Scrapbook”
Synopsis of project
You will find current news articles relating to certain subunits of this course. For each article you will define two terms and write a brief paragraph tying the article to content learned in BBI2O.

This Final Summative Evaluation is worth 10% of your final grade.

Due Date is Friday, January 17th, 2014.

Choice A: Product Development

This project consists of starting a fictitious business and performing many of the tasks that go along with it. All late submissions will be subject to our class’s late policy. Your teacher is available to clarify questions but you must use your knowledge obtained throughout the year to complete the assignments.

Your final project will consist of the following parts:

Part A: Getting Started (business ownership, product, competition, market research)

Part B: Marketing (the 4 P’s)

Part C: Accounting (balance sheet, income statement)

Part D: Reflective Report

Part E: Presentation

Part A: Getting Started

Choose one of the products from the list below to sell for your company:

A)shampoo that colours your hair D) digital camera pen

B)Sunglasses that can change colourE) Flavoured pen caps

C)Teacher action figures

OR yourown original idea with approval from your teacher

Part A: Getting Started ( /30)

1. Your Business (7marks)

A)What is the name of your business? (1)

B)What does the name of your business represent? (2)

C)What form of business ownership would you prefer and why? (2)

D)What are some potential problems that you may encounter with this form of ownership? (2)

2. Your Product (7 marks)

A)Give a detailed explanation and description of what your product is and what are the special features or benefits. (4)

B)What is the brand name of your product? (1)

C)What is the significance of your brand name? (2)

3. Competitor Analysis (6 marks)

A) Who are your main competitors? (2)

B) How is your product different than their products? (2)

C) What is your strategy to beat out your competition? (2)

4. Market Research (10 marks)

A) Create a 10 question survey that could be handed out to your potential customers to gather more information in planning and producing your product. Include an introduction and a conclusion thanking the participants. Be sure to use a variety of types of questions, both open-ended and closed-ended. (5)In a paragraph, describe how you would use the survey results in order to make better business decisions. (5)

Part B: Marketing – The 4 P’s ( /40)

Your next step is to market your product using the 4 P’s.

Product (10 marks)

A) Construct the actual package of your product. (8)

B) Explain how your package protects, preserves, promotes and provides convenience for the product. (2)

2. Price (5 marks)

A) What price do you plan to charge for your product?

B) How did you come up with the price?

C) What are the prices of three competing or substitute products in your category? Why are you priced higher/lower than your competitors?

3. Place (5 marks)

A) At what stores would you want your product available in?

B) What are your reasons for choosing these stores?

4. Promotion (20 marks)

A) Name two forms of media that you plan to use to promote your market.

B) Give reasons for your choices for (a)

C) What type of ad (ex. Lifestyle, testimonial, etc.) would be best for your product?

D) Design a print ad for your product. Why did you create your ad this way?

E) Create a logo and slogan for your product. Explain your rationale.

Part C: Accounting ( /20)

Prepare a hypothetical Balance Sheet for your company using today’s date. You must include at least 6 assets and 3 liabilities. (10 marks)
Prepare an Income Statement for the month ending January 31, 2014 for your company. You must include two Revenue accounts and seven Expense accounts. (10 marks)

Part D: Reflective Report ( /30)

(Minimum of 250 words) which discusses the following:

The most important lesson you learned in Introduction to Business and 2 reasons why it was the most important

The most surprising thing you learned in Introduction to Business and 2 reasons why it was the most surprising

The most fun activity or assignment you completed in Introduction to Business and 2 reasons why it was the most fun

How Introduction to Business will help you in the future

Part E: Presentation ( /30)

Create a Presentation Slideshow with a minimum of ten slides to promote your product. The slideshow must contain the following information:

BBI2O Introduction to BusinessMr. Ruston

Final Summative EvaluationJanuary 2014

A)Title page

B)Product name

C)Product description

D)Type of ownership

E)Competitor information

F)Promotion

G)Product placement

H)Pricing strategy

BBI2O Introduction to BusinessMr. Ruston

Final Summative EvaluationJanuary 2014

Use graphics/images along with animation/transitions to enhance your slideshow.
Present the slideshow to the class

Choice A Marking Scheme

PartScore Out Of

A______30

B______40

C______20

D______30

E______30Total ____ / 150

Choice B: “BBI Scrapbook”

In this project you will create a “BBI Scrapbook.” This scrapbook will contain a total of 9business news article entries, a 250 word reflective report and a class presentation of your findings. You will findarticles for some of the 15 subtopics covered in BBI2O. (1.A -> 4.B). Articles need to be current, which means no more than 2 years old. The article date should be 2011, 2012 or 2013. Anything from 2010 or before is not current.

MAIN TOPIC / POTENTIAL ARTICLE IDEAS
Unit 1: Business Fundamentals
Do any 2 of:
1.A Economic Basics
1.B Types of Businesses
1.C Business Ethics
1.D International Business / Role of supply & demand
Forms of business ownership (franchise, partnership, etc.)
A company acting ethically or unethically, or a company showing/not showing social responsibility
A Canadian company attempting to expand internationally, a foreign company expanding into Canada
Unit 2: Functions of Business
Do any 4 of:
2.A Production
2.B Human Resources
2.C Management
2.D Marketing
2.E Accounting / Company improving production
Role of an HR manager, hiring process, labour disputes
Motivating Employees
Advertising, Marketing Campaigns, the 4 P’s
Trends in the Consumer Market (demographics, lifestyle)
The importance of proper Accounting
Unit 3: Finance
Do any 2 of:
3.A Income Management
3.B Banking
3.C Investing
3.D Credit / Budgeting and/or money saving tips
How Banks work, Debit/Credit cards
Saving Info (GIC, RRSP, RESP)
Credit Issues, Bankruptcy
Unit 4: Entrepreneurship
Do any 1 of:
4.A Skills & Characteristics
4.B Invention & Innovation / Entrepreneurial characteristics
Entrepreneurial contributions to society
New products/innovations created by entrepreneurs

Therefore, this project requires 9 different article entries.

Each article entry must include:
Business Article clipped and mounted on paper, or printed.
Definitions of two business terms contained in the article.
Correct citing of the article that includes: article title, author’s name, article source, and the date of the article.
A description of how the article relates to the Introduction to Business Course. (minimum of two paragraphs)
Your scrapbook must:
Begin with a title page which includes: Course Code, Teacher’s Name, Your Name, Project Title and the Date
Contain a Table of Contents
Contain a reflective report (minimum of 250 words) which discusses the following:
The most important lesson you learned in Introduction to Business and 2 reasons why it was the most important
The most surprising thing you learned in Introduction to Business and 2 reasons why it was the most surprising
The most fun activity or assignment you completed in Introduction to Business and 2 reasons why it was the most fun
How Introduction to Business will help you in the future
Contain your 9 Key Article Entries outlined above
Be displayed in a creative manner (duo tang, scrapbook style, etc.)

Checklist

The following is a checklist to help you stay organized during the completion of this project. Ensure that you have all items “checked” in order to obtain a Level 4!

Clipped 9 Articles (as per instructions) from Newspapers, Magazines, or Internet.

Mounted articles on paper, or printed them off

Defined two business terms within each article

Correctly cited the articles

Included how the article relates to Introduction to Business

Wrote the report (minimum of 250 words) and discussed all requirements

Completed Title Page and included all required information

Completed Table of Contents

Placed Title Page, Table of Contents, Report, and 9 Article Entries (including all requirements) into scrapbook (or other presentation choice)

THIS SHEET HANDED IN WITH SCRAPBOOK

Choice B Marking Scheme:

9 Business Articles
Knowledge / One Current Article for Each Topic / /9
Proper Citation for each Article (2 marks each) / /18
Definition of 2 Business Terms for Each Article (1 mark each) / /18
Relation to Introduction to Business (3 marks each) / /27
Report
Thinking / Report is a minimum of 250 words, double spaced, 12-point font, paragraphed, and discusses key requirements / /30
Scrapbook
Communication / Scrapbook is displayed neatly and creatively / /10
Scrapbook contains Title Page WITH REQUIRED ELEMENTS / /2
Scrapbook contains Table of Contents / /2
Spelling & grammar competence (evidence of proofreading) / /2
Marking scheme (this sheet) included with submission / /2
Presentation / /30
Total / /150