Chapter+5+-+Proprietorships+&+Partnerships

**__ Friday, November 18: __**
1. Read pages 117 - 119 (Proprietorships) 2. Complete the assignment: //Use Google Docs. Put all work in your class folder.//
 * Review What You Read: **
 * 1.** Review Facts #3, 4, 5, 6 (page 131)
 * 2.** Discuss Ideas #2, 3, 4 (page 131)


 * Exercise: **
 * 1.** If you were going to open your own business . . . What would it be? What would you need to consider? List all considerations. What education will you need to start your business? How many employees will you have? Will you have to hire someone to do the payroll? How will you track inventory?

**__ Monday, November 28 - Tuesday, November 29: __**
1. Read pages 120 - 128 (Partnerships) 2. Complete the assignment //Use Google Docs. Put all work in your class folder.//


 * Review What You Read: **
 * 1.** Review Facts #7, 8, 9 (page 131)
 * 2.** Discuss Ideas #5, 6, 7, 8 (page 131)

Answer these questions: (1) What makes The Chocolate Farm successful? (2) What role does each partner play in the success of the business?
 * Exercises: **
 * 1.** Click [|here] to read about the success of The Chocolate Farm ("Siblings Taste Success, and How Sweet It Is")


 * 2.** Research Mars, Inc. (1) What resources were needed to start the business? (2) What products does the company sell?

__** Tuesday, November 29 - Thursday, December 1: **__
1. Read pages 113 - 115 (Entrepreneurs) 2. Complete the exercises //Use Google Docs. Put all work in your class folder//
 * Exercises: **
 * 1.** Do You Have What It Takes? Go to [|"Wise Entreprenuer"] to take the quiz. Which type of entrepreneur are you - Advisor, Superstar, Artist, Visionary, Analyst, Fireball, Improver, Hero, or Healer?

- Describe the company that he or she founded. - Explain the reasons why he or she became an entrepreneur - Explain what qualities, background, or both, prepared the individual to start the business - What aspects of being an entrepreneur are particularly rewarding? - What challenges do entrepreneurs face?
 * 2.** Go to [] Link to the "Interview with Entrepreneurs" section. Review the entrepreneur interviews. Select two entrepreneurs who interest you, and for each, do the following:

**__ Monday, December 5: __**
1. Read pages 115 - 116 (Business Plan) 2. Complete the exercises //Use Google Docs. Put all work in your class folder.//
 * Exercises: **
 * 1.** Read the client stories in the file, Sweet Opportunities. Prepare written recommendations as to which business organization you believe to be best for that client (proprietorship, partnership, other). Make sure to provide reasons for your recommendations as well as list at least one negative with suggestions on how to minimize that negative effect.

-- high school students love chocolate chip cookies -- you have a special talent for baking cookies -- you're always broke
 * 2.** Givens:

Given these three conditions, you've come up with the idea of stating a business - selling chocolate chip cookies to your fellow students. As a business student, you want to do things right by preparing a business plan. First, you identified a number of specifics about your proposed business. Now, **you need to put these various pieces of information tnto the relevant section of your business plan.**

Using the business plan format on page 116 of the text, indicate the section into which you'd put each of the following: 1. You'll bake the cookies in the kitchen of your parents house 2. You'll charge $1 each or $10 a dozen. 3. Your purpose is to make the best cookies in school. You value integrity, consideration of others, and quality. 4. Each cookie will have ten chocolate chips and will be superior to those sold anywhere else in Victor. 5. You expect sales of $6,000 for the first year. 6. Chocolate chip cookies are irresistible to high school students. There may be other competition out in the community, but your cookies will be superior and popular with HLV students. You'll use only fresh ingredients and sell them for $1 each. You expect to have first year sales of $6,000 and a net income of $1,5000. You estimate start-up costs at $600. 7. You'll place ads for your product around school. 8. You'll have a salary of $100 a week. 9. You need $600 in cash to start the business. 10. There may be other competition in the community, but you see no real threat to the success of your business. 11. You'll bake nothing but cookies and sell them to HLV students and staff. You'll bake them in your parents kitchen.

**__ Wednesday, December 7: __**
1. To learn more about Dave Thomas, the creator of Wendy's: [|Meet Dave] After reading the web site information, answer the following questions: -- What influenced Dave Thomas to enter the restaurant business? -- When was Dave Thomas an intrapreneur? [|(Intrapreneur)] -- Why was it risky for Dave Thomas to open "another hamburger restaurant"? -- How was Wendy's going to make itself different from the other hamburger stores? -- What two things made Dave Thomas an entreprenuer? -- Many entrepreneurs make charitable contributions and perform service activities for their communities. Has Dave Thomas done this? How? //--// Did Dave Thomas fit your definition of an Entrepreneur? Why or Why not? -- Did you see Dave Thomas as an Entrepreneur before this exercise? Explain why you did or why you did not. //--// Explain, using Dave Thomas as an example, the major differences between being an Intrapreneur and an entrepreneur.
 * Exercise: **