Plan Budget Profit - Economics and Business Support Page ...
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Plan, Budget, Profit! Business and Economics in Our World… Resource created by Deana Cuconits, 2014
Transcript of Plan Budget Profit - Economics and Business Support Page ...
Plan, Budget, Profit!
Business and Economics in Our World…
Resource created by Deana Cuconits, 2014
Acknowledgements
This resource uses the unit of work created by Money Smart Teaching.
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O The material in this Unit of Work is made available for the purpose of providing access to general information about consumer and financial literacy education and is not professional advice. If you intend to rely on the material, you should obtain advice relevant to your particular circumstances to evaluate its accuracy, currency and completeness.
O Some material may include or summarise views, standards or recommendations of third parties. ASIC does not endorse such material and its inclusion does not indicate that ASIC recommends any course of action.
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Purpose of the Unit
O A budget allows you to manage your money effectively
O Effective use of money can create a profit
O A well planned and prepared oral presentation can communicate ideas and information to others.
O Graphic representations of data can communicate scientific ideas.
O Preparing budgets requires the use of effective strategies to solve problems using whole numbers. Materials selected for making a product can influence cost.
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Session 1 A Grand Donation
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The Letter Read your letter…
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The Task
O A letter has arrived from a mysterious fictitious relative, William Corlett, announcing the donation of some land. The land is to be developed as a nature fun park. A further donation of $1m is provided as a budget to develop the nature fun park.
O You need to present a plan and budget costings to William Corlett, to receive the $1m.
O You will consider measurement and scale using past experiences and concrete examples to develop a plan for your nature fun park.
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The Map
O The map does not have a scale. William Corlett has donated an 18 hectare property to be used as an environmentally friendly nature fun park.
O We need to decide the dimensions of the land and determine an appropriate scale for the map.
O What does 18 hectares mean in perimeter and area?
O How might this compare to local parks or landmarks?
O You could research how big well known fun parks are. eg Sea World, Dream World, Taronga Park Zoo.
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Birds Eye View
O What does this mean?
O Why do we look at maps from a birds eye
view?
O What else do we look at from a birds eye
view?
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Facilities and Costs
O This could be used as a guide for students
as to what facilities could be included in the
fun park and their possible cost.
Do each of these items support the
concept of our Nature Theme Park?
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Think, Pair, Share
How might you go about achieving
the aims of the nature fun park?
O Which ones should be included?
O How many of each will you need?
O Where might you position them?
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Respond
O How might you make your nature fun park
respectful of the environment?
O How might you design the nature fun park to
attract a lot of people?
O How might you best use your budget to
develop your nature fun park?
O How might you be able to make a profit from
the fun park?
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Keep your letter, map and facilities sheets together in
your Portfolio.
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Session 2 Designing Nature Fun Park Attractions
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Environmentally Friendly
O As part of the nature fun park facilities, you need
to incorporate an environmentally friendly
attraction into the park.
O You need to consider what kinds of attractions
will be sensitive to the environment while still
being appealing, inviting, engaging and fun.
O You should also think about what would
encourage people to pay a small amount for the
experience. In the business world this is known
as Marketing.
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Criteria
O Let’s brainstorm possible examples of
environmentally friendly attractions that
could be set up in such an environment.
O What do you think the criteria should be for
an ‘environmentally friendly’ attraction?
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Design Proforma
O You should draw your design and provide a
brief written description of the activity
explaining:
O how it is sensitive to the environment,
O why it would attract people to the park, and
O how much people might pay for this activity.
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Share Your designs with your shoulder partner
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Profitablity
O Select and share with the class the design that you think would be the most profitable nature fun park attraction…
O That is, the attraction for which they feel people would be most willing to pay money to experience.
Ensure that the attraction is engaging and environmentally friendly (as requested by
William Corlett)
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Session 3 Budget Fun Suppliers
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Remember…
O A budget is important as it helps us to know
how much money we have.
O A cost sheet helps us to know how much
each item costs.’
Together, the budget and cost sheets help us
to work out what we can afford to buy, and to
plan efficiently and effectively.
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The Budget Sheet You can use the budget sheet and the cost sheet to
calculate what you can buy for your fun park
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Microsoft Excel Use Microsoft Excel to organise your information.
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Why is budgeting important?
It enables you to:
O make choices about what they can afford to
buy
O not overspend
O be informed about their spending
O appreciate that everything has a value
O understand that the money they have can be
used to achieve certain goals
O be smart with money.
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Your Turn… Select the facilities for your fun park and complete your
own budget sheet using Microsoft Excel, ensuring that
you can afford everything they want to include
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Your Turn… Select the facilities for your fun park and complete your
own budget sheet using the worksheet provided. Use the cost sheet to help you plan. You may use your Maths work
book and a calculator to work out. Ensure that you can afford everything you want to include.
Remember you can create your own designs if you wish and you must include the one you create last week.
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Diagnostic Assessment
Assessment Checklist
Are all calculations correct?
Are all the proposed facilities aligned
with William Corlett's request
represented in the budget?
I will collect your budget sheets to assess your ability to work to a
budget
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Designing a Nature Fun Park
You will design your nature fun park over the next two
lessons.
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You will need to use…
O Your map to design your nature fun park
O Your budget sheet, listing the facilities you
will be drawing on their map
O Your design proforma outlining the
profitable, environmentally friendly
attraction you designed.
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Drawing Maps
O When creating a map it is important to
include a key in order to ensure that the
map is easy for others to read.
O Have a look at these maps that use keys.
O The major attractions, picnic areas and
playground are to be drawn showing the
detail from a bird’s eye view on your map.
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Worksheet 5
O Use Worksheet 5 to plan what sorts of
symbols you will use for your key.
O Remember to refer to your budget sheet to
ensure you are drawing all of your selected
objects on your map.
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Nature Fun Park
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Students have this session to complete their
designs for their nature fun park. At the end of
this session, students must submit their maps
and budget sheets to William Corlett so he can
determine whether they have achieved his
vision for the park. If they can demonstrate
this, they will receive $1 000 000.
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Submit your work for marking
If you meet the criteria you will receive your
‘$1,000,000’ next lesson!
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A Million Dollars Did you meet the criteria?
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Let’s re-read William’s Letter
O Consider the what he had to say about
profiting from the park.
O How might you be able to make money?
O Focus on the following:
O this park must be profitable
O to make it profitable students will need some
way of making money from the park
O a small entry fee may be charged.
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William Corlett insists that this park must be attractive to families and not be
expensive, so he has provided a calculator to help you work out how much you can
charge for entry to the park.
Note: Admission will be free for children aged 12 and under.
O As the cost of the park is not a loan, all moneys that you collect will be profit.
O However, to gain a true picture of the profit you should consider what expenses there would be and deduct that from the takings – maintenance of the park and the equipment, emptying of the bins, staffing the café and ticket office etc
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Activity Time
O In order to complete the following activity the
entry fee per adult is $3.
O Look at your copy of Worksheet 6: Profit
calculator and work out how much profit you
can make in one day if 100 people (25
family groups) visit your park – 40 adults
and 60 children under 12.
O Work in pairs to checkyour calculations.
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Preparing for Opening Day! You need to be ready for the grand opening of your
nature fun park during the next session.
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Entry Sign
O Prepare an entry sign to your park. This
should include the name of the park,
opening times and the entry fee on A3
paper/card.
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What’s next?
O In the next session each student will give a
three-minute presentation about their park.
O In the next session it is time for the fun to
begin! The parks will be opened and you will
share your nature fun park with the class.
Each of you will use your prepared cue cards
to speak for three minutes about your park.
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Cue Cards
O Use the prompts on the following slide to get you
thinking about what you have learnt when
planning your nature fun park.
O You have considered many things during this
unit, from budgets to planning, designing and
creating a profitable business.
O Use these prompts to help collect your thoughts
about planning your nature fun park. Use your
completed cue cards to prepare a three-minute
presentation for your class. Let the fun begin!
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Cue Card Prompts
O The environmental features I included in my
park that I think would attract the most
visitors are…
O Working with the budget taught me…
O I tried to make a profit for my nature fun
park by…
O What I felt was most successful about my
work in this unit was…
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Presentation Time! Share and listen to each others ideas
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