Dealing with the Shark Tank: Entrepreneurship Project

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This project was recently completed with two all gifted classes as a part of an economics unit (a 4th grade class and a 5th grade class). The students absolutely loved the unit, and they all retained the important information as proven by their assessments. This could be modified and used in the middle school classroom as well. This project includes a simulation where students are involved in inventing a better product (such as making gym shoes better by adding springs in them). They use the "SCAMPER" method (a great method for creative thinking) to make a better product, then complete market research to find out what other improvements they can make to their product. They also will create a business plan with their business goals, financial plan and projected earnings. Finally, they will use the "RAFT" methods (Role, audience, format, topic) to plan a commercial for their product and create a commercial script. In the end, they put it all together in a short presentation for the sharks, where they will present and negotiate a certain amount for a stake in their business. Throughout the unit I incorporated lessons on interest, marketing, advertising, profit and loss. Included with your purchase are 12 pages including a project overview, and the project pages for each of the project steps outlined in the overview. At the end of the project, a presentation guide is also included (so students can anticipate the questions the sharks are asking), along with a negotiations worksheet to use during the negotiations with the sharks. Ideas for potential sharks in your class could be: local business people, other teachers, principals, or high school students who are participating in a business class.
Total Pages
12 pages
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