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Module 27: Operating a Small Business (Optional)

Suggested time: 10 - 16 hours
Level: Advanced
Prerequisite: Modules 2, 3, and 5

Foundational Objectives

Common Essential Learnings Foundational Objectives

  Learning Objective Notes
27.1 To investigate options for financing the establishment of a business. Invite a credit manager from a bank or credit union to discuss starting a business.
27.2 To complete a loan application. Have students practise for an imaginary business and consult with a resource person.
27.3 To discuss repayment schedules. The credit manager of a bank or credit union may discuss repayment schedules.
27.4 To identify credit types. (COM) Ask a credit manager of a bank or credit union to talk about credit types.
27.5 To complete a credit application. This can be done under the direction of the speaker. Hand in for marking. Students should keep the form for later reference.
27.6 To understand the role of dealers and suppliers. Invite a dealer representative to talk to the students about their expectations of the business person in the upholstery industry.
27.7 To discuss the legal requirements of contracts. (COM) Invite a lawyer to discuss legal contracts.
27.8 To draw up a simple contract. Under the direction of the lawyer, have students prepare a simple contract.
27.9 To establish a simple accounting system. Invite an accountant or an accounting teacher to discuss a simple accounting system.
27.10 To maintain a simple set of books. (NUM) Have the students keep a simple set of books for the projects they complete.
27.11 To complete bills for customers. (NUM) Have the students keep track of all materials that they use throughout a project and then complete a bill for each project.
27.12 To understand overhead, profit, and labour and how they relate to pricing. (CCT) Ask each of the speakers to relate how they deal with the topics in this objective. Have the students record this information in their journals under separate headings for each presenter. Later ask them to correlate the information to their own business plan.
27.13 To establish a customer base. Have a number of different service-oriented business people come in and talk to the students about establishing a customer base.
27.14 To address customer service. (COM) Invite a service-oriented business person to talk about providing customer service.

Have the students role play solutions to address customer complaints. Role play how to meet and greet potential customers and how to serve them in the shop. When customers come into the shop, have a student conduct the business.
27.15 To address customer complaints and practise service recovery. (CCT) Discuss the most common types of problems and troubleshoot solutions.
27.16 To practise the call back. Discuss the most common types of call back. Troubleshoot how the call back can be eliminated.
27.17 To recognize and practise appropriate employee behaviour. Have a number of employers come in and discuss expectations employers have of employees.
27.18 To identify the types of insurance. (COM) Invite an insurance representative to discuss business insurance needs.
27.19 To identify warranties and guarantees. (COM) Invite a factory representative to discuss warranties and guarantees.
    There are a large number of topics that have not been discussed. These can be covered using modules from Business Education. A Curriculum Guide for the Secondary Level. Entrepreneurship 30.


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