Business simulation
Cards (39)
- Work Immersion is one of the course requirements for graduation. A Senior High School student has to undergo Work Immersion in an industry that directly relates to the student's post-secondary goal. Through Work Immersion, the students are exposed to and become familiar with work-related environment related to their field of specialization to enhance their competence.
- Specifically, the students are able to: This course integrates all the key concepts and processes of Accounting, Business and Management (ABM) as applied in real-life activities following the business cycle: business opportunity search, product/service development, business formation and organization, business implementation and control, business wind-up, and relevant management reporting in the context of ethical standard and social responsibility. Technologies are used in a business enterprise as appropriate.
- As stipulated in DepEd Order No. 39 s. 2018 entitled Clarification and Additional Information to DepED Order No. 30 s. 2017 (Guidelines on Work Immersion), Work Immersion is a requirement for Academic specifically for Accountancy, Business & Management (ABM)
- Technologies are used in a business enterprise as appropriate. In the culminating of the course, the school has the following options for the team of students based on the Most Essential Learning Competencies
- 12.Set up a social media consulting business 13.Start a web design service 14. Make how-to videos 15.Be a blogger 16.Bake and sell dog treats 17.Start a computer service 18.Be a cake decorator 19. Provide car wash services 20. Start a photography business 21.Bake and sell cookies 22. Provide editing or proofreading services
- Start an errand running service 2. Become a moving assistant 3. Become a scrapbooker 4. Offer homecheckservice 5. Become a personal shopper 6. Become a holiday decorator 7. Become a garage sale organizer 8. Start gift wrapping services 9. Start a candle making business 10.Start a logo creation business 11.Sell seasonal goods online
- A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the timeframe for the achievement of the goals. It is your chance to tell your story to potential investors and lenders. This is where you bring the vision of having your own business to life.
- Business plans are like road maps: it's possible to travel without one, but it will only increase the like hood of getting lost along the way.
- A well-written business plan is an important tool because it gives entrepreneurs the ability to lay out their goals and track their progress as their business begins to grow. It also helps to articulate a strategy for starting a business, provides insight on steps to be taken, resources required for achieving a business goal and a timeline of anticipated results. It also important in attracting investors and determine if the business is on the right path and worth putting money into.
- Starting a business is an exciting, yet often overwhelming undertaking. After the initial exuberance of having that brilliant business idea pop into your head, your next question is likely to be: Now what? Developing a business plan is the best next step. Business plans give your company direction. Getting a business off the ground is a challenge but learning how to create a business plan isn't. Here, we give you the scoop on what a business plan is, why you need it, and how to create one.
- What is a Business Plan? - A business plan is an overview of the business idea, as well as a strategy for building and running it. It's a formal, written document that answers important questions about your company.
- Why Do You Need a Business Plan? A business plan serves both internal and external stakeholders and is crucial to developing your budding company in multiple ways
- Guidance: A business plan can act as a roadmap, helping you and your team stay focused on your goals.
- Investors: If you want to bring investors into your venture, you'll need to prove the viability of your company. A well-developed business plan shows that you've done research on the market, your competition, and how to succeed
- Partners: Looking for a co-founder? In the same way a good business plan will help you draw in investors, it can also help to attract potential partners.
- In order to write a business plan, you need a winning business idea. If you're an aspiring entrepreneur still looking for an idea, start paying attention to common problems you and the people around you encounter.
- Once you have a business idea you're excited about, start conducting research to flesh out your business plan. Use your business plan to answer the questions others will have about your business and how it will be successful.
- This section serves as a quick preview of what will follow, much like the opening paragraph of an essay.
- Think of the company overview as an elevator pitch. This is another opportunity to succinctly answer key questions
- Use this section to expand on your business model
- Those reading your business plan need to know why your business will be successful. Do the necessary market research to identify your company's viability
- Here is where you need to explain how you'll reach your customers. Don't forget to include digital marketing tools like a website, a social media presence, and an email marketing strategy.
- Parse out company logistics in this section. Detail as much as you can about how you intend to run your business.
- After you've written your business plan, go over it with a fine-toothed comb. Typos and grammatical errors will make you and your potential business seem unprofessional. It's a good idea to give it to a friend who can look at it with fresh eyes.
- You should also eliminate any extraneous or redundant content. Investors and lenders don't want to read a book about your business. Be respectful of their time and present them with a business plan that is concise and clear.
- Starting and growing a business requires careful planning. It serves as a blueprint for where you want your business to be in the next three to five years, as well as a plan for how to get there. It can also reveal potential issues before they occur. "Planning is bringing the future into present so that you can do something about it now". Thus, knowing and understanding the different parts of a business plan is very important in achieving your goal
- The executive summary is the first paragraph investors read. If it doesn't grab the reader's interest, it will be the last paragraph they read. In just a few sentences, describe the business concept, its products and services, the competitive advantages and why the company will be incredibly successful. This opening should intrigue readers and make them want to read more.
- The description fills in the details outlined in your summary. It puts together the structure of the business and should include the following: What is the name of the business?Where is it located? What is the business structure: corporation, proprietorship or limited liability company? Why is this business unique? Why will it succeed? What factors will cause the business to grow?
- Your target market must be clearly defined. You need to show detailed thought abou who your customers are and that you have identified their characteristics: Who are the likely customers? Are they male or female? What are their ages? Where do they live? How many customers are in your target market? Is the market growing, shrinking, or is it stable? What are the national and local trends that affect your industry?
- The descriptions should show why the products and services are innovative, unique and exciting. The reader should believe that you've really come up with an idea or concept that no one else has created. Use the following as an outline: What are the products or services you plan to offer? What are their features? What are their benefits? What makes these products and services unique? How do they meet the needs of your customers? How do they add value to the customers?
- In this section, you have to spell out how you intend to forge a share of the market against more established competitors. This can't be something like just working harder; it needs specific actions and steps that have a chance of succeeding and winning customers. Outline your competitive action plan with answers to these questions:
- Who are your strongest competitors? What are their strengths and weaknesses? How do they attract customers? Why do customers buy from them Are your products price-competitive? Are your competitors' businesses increasing or decreasing? What will make your company different and better than your competition?
- After you identify the weaknesses of your competitors, the marketing plan should describe how you plan to exploit those weaknesses. How will you position your products against the competition? Will you compete on price? Can you offer better customer service and quicker response times Do you have a company logo and promotional theme? What sales tactics will you use? How will your products be distributed?
- The objective of financial projections is to show that you have worked through the numbers and come up with a plan to make a profit. Great ideas are nice, but you need cash flow to start up a business and stay around long enough to gain market share.
- What are the projections of sales and cash flow for the first year? What are the initial operating costs?How much do you need for personal expenses, and where will these funds come from? How will you finance the startup and growth of the business? Do you have a bank loan or line of credit? How long will it take to break even and have a positive cash flow?
- The real heart of any business is its people. Even the best ideas will fail if a company does not have skilled and aggressive employees. The management portion of the business plan needs to assure investors and lenders that you have a top-notch team lined up to work for your company. Sell your management team with answers to the following questions:
- Who will manage the company and each of its departments? What are the managers' experience and qualifications? How many employees are needed for full-time and part-time positions? What are the jobs and responsibilities of each employee?Will the company pay competitive wages and benefits? How will employees get training?