An account of how a Slovakian school uses the development of a student-run company to build awareness of entrepreneurship and business literacy - and bring benefits for the school community.
Purpose and process
To enable students to experience the process of setting up and running a stock company in order to develop business literacy skills. Students established a basic stock company and sold shares in order to gain capital. They had to apply for positions in the company and then go through a selection process for appointment to positions in different departments: marketing, production and finance. They conducted market research into which products teachers and parents would like to buy, after which they made the goods and sold them at school and also in a market outside school.
- Develop business literacy skills and understanding of operational systems in areas such as marketing, finance and production;
- Build a range of enterprising skills, attitudes and behaviours, particularly problem-solving, organisationall skills, time management and taking responsibility for one's own actions;
- Learn about identifying and meeting customer requirements.
Curricular or thematic relevance
Business literacy developed through this resource can enrich basic financial literacy in the national curricula. The project can be used to provide a business dimension to a range of subjects as well as fit into Business Studies and/or Economics; it also has potential as a cross-curricular initiative involving input from various subjects.
How to organise:
The activity could be introduced in a series of timetabled lessons and supplemented by extra-curricular time; students will need an extended period of time to see through the whole process.
Assessment and evaluation approaches
Inbuilt into the project via success of the company to attract shareholders and their eventual ability to sell products/services.
Activities would be enhanced by the involvement of a business mentor.
This method is suitable for every level, but it will be necessary to adapt it in order to fit it to different ages, skills and ability ranges. Good cooperation between teachers of different subjects is also important.
helper do TM detail body (June 6th, 1st half)
I like the idea of a students" company that brings benefits to the school.The students conduct market research,produce and sell the goods.They gain and develop business skills and understanding of marketing, production and finance,as well as enterprising skills, problem -solving skills,organisational skills and taking responsibility.
It is always good to try out the theory in practice, in a controlled environment. The other benefit is that it changes their way of thinking about business to make profit not only for themselves but also for the wider community they are a part of.
This way of working With pupil is a great Method and a very good way to organize pupils and student. They have a Cooperation within the Group that gives Direct results, the responsability is a motivating factor and they have a Perfect opportunity to learn more about themselves and their own skills and interests.