A project run annually by a Slovakian school for students in their final year of study. Students have to produce a business plan to show how much they know and understand about running an enterprise.
Purpose and process
The project aims to test students' theoretical knowledge and business skills which they have acquired during their studies. They are asked to construct a business plan for a fictitious business they are interested in and which also fits with their personal knowledge and experience. The teacher provides them with a topic outline/project plan, schedule of work including deadlines and the evaluation criteria.
Clarification is given on the overall structure of the business plan and students also have access to examples/case studies. Two outputs are required: written work and digital presentation work. Students have four months, including holidays and free days (November to February) to complete the preparation of their business plans. They then have to formally present their business plan to teachers and classmates using their digital presentations. Teachers and classmates reflect on the quality of the presentations whilst students' written work is evaluated solely by the teacher according to the pre-specified criteria.
Participation in this project can help students to:
- Gain a real insight into the practicalities of starting a business based on the entrepreneur's visions for their future company;
- Develop creativity, self-determination and strategic decision-making;
- Increase their financial capability including ability to create a budget;
- Learn how to make effective presentations in order to sell their ideas to an audience. Written work produced for the project can be used to support students' theoretical work for their final examination, the Baccalaureate of Economic Courses.
Curricular or thematic relevance
Preparing students for solving this annual school project can be integrated into teaching in various subjects, such as Economics and Business Management, Economic Exercise, Budgeting, Accounting or Applied Informatics. It fits with the national curriculum, especially regarding Business Management and Economics.
How to organise:
Preparation of students can be integrated into timetabled lessons but completion of the task will also require student's own time, including holidays.
Assessment and evaluation approaches
This is a competitive approach to assessing knowledge, skills and understanding on a summative basis. It involves both written work and a presentation.
There is scope to involve local businesses and community partners at all stages of this activity.
helper do TM detail body (June 6th, 1st half)
This is a very good method to get the most out of students. Students seem to lack in skills in creating an idea and then presenting it to an audience. This Business Plan method will definitely help students to develop the necessary skills.
Learning to turn a vague business concept into a concrete business plan is a vital step in stuedents' entrepreneurial endeavors.
Very useful method for my student which help them to organize their business idea and present it to eventual sponsors. My students attach it altogether with a letter of proposal.
This is a very good method. The task of preparing a business plan gives students a theoretical perspective of how viable the business idea actually is. They have to evaluate the potential strengths and weakness of the business, as well as do a careful market analysis of the potential customers and competitors. A realistic business plan is a must for every student enterprise to give them a good understanding of the actual process.
This method is great and proven through many similar ones. Business Challenge is a similar method where students have just one day to brainstorm ideas and think of innovative and profitable enterprise, write a business plan and make a presentation. This method is very atractive for students. They enjoy working in teams and brainstorming new ideas.
A great method which actually gives real practical experience. Students who are about to run startups need to have pretty good skills in creating business plans not only to achieve easily their goals but also to attract investors.
Business plan is an excellent method of obtaining information and theoretical basics for students. Even greater effect it should have in conjunction with Company Program (where students establishe "real" student company with real money and products) in which the students have the opportunity to verify their theoretical assumptions in practice.
I think that Business Plan is a very useful tool to develope entrepreneurial skills. Access to examples and case studies helps them to make a good business plan
This seems to be a very good method where students can work on their business idea not only in Company programme/EwB but also in other subjects. It develops their presentation skills and help them to realize strenghts and weakness of their ideas.