Vocational Business Foundations

Fall 2007 Semester – Mr. Josh Burgoyne

(508) 693-1033 ext 226

Class Description

1.25 Credits    Quarter Unweighted              

This trial course is designed to give students an introduction to entrepreneurship, accounting, marketing, and management concepts and how they relate to the five areas in the MVRHS vocational program – automotive studies, carpentry, childcare, culinary arts, and horticulture.  A mix of students from all five vocations will participate in an integrated study that will explore the subject matter necessary to write a resume, design a business plan, understand key management and marketing principles, and effectively use technology (QuickBooks and Microsoft Excel) to understand and create financial statements and billing protocols for their own businesses/ vocational area of interest.

Students enrolled in Voc. Ed. will rotate through this quarter-long course over the span of the 2007-08 school year.

Grading Policy

Your grade for the quarter will be determined as follows:

·       Business Plan Project                       25%

·       Test / Quizzes                     30%

·       Homework / Case Prep       20 %                 

·       Class Participation / Effort                25%

Class Goals

This class is designed to develop effective skill-sets that will help you in your preparation for college, trade school, and /or entering the “real world.” By taking a look at the creation and functionality of different types of businesses, you will learn:

·       How to contribute and learn from a debate or discussion with your peers.

·       How to write a resume

·       How to conduct yourself when looking for a job.

·       How to write a top-notch Business Plan

·       How to develop effective multi-media presentations.

·       How to balance a check book and create invoices

·       The importance of accounting and finance and their roles in operating a business.

·       To become more comfortable with public speaking in a small-group setting.

·       How an entrepreneurial mind can help you in many facets of life.

Class “Gear”

You will need to bring the following items with you to EVERY class unless told otherwise:

1.      A good-sized 3-ring binder – this is where you will keep all those interesting articles and case studies. It’ll also keep you nice and organized.  No more “I lost it, can I have another” or “I left it in my car.”

2.      College-Ruled Notebook Paper – have some stashed away in your binder.

3.      A Highlighter – for all those interesting articles and case studies!  You’ll be using them a lot at the next level, trust me!  Swipe over the most interesting ideas in your reading material, take a quick look at it again at the bell and you’ll be prepared for class discussion.

4.      A calculator – you’ll be crunching some numbers and analyzing financial data from time to time.  

Course Outline

There will also be lots of interesting articles and case studies!  In addition the class will feature Virtual Business – a software simulation where you open several retail stores and compete against each other to earn the most profit. We will also watch a few episodes from the first season of the popular business-themed reality show, The Apprentice, where 16 young, talented businesspeople compete to be the protégé of one of America’s most successful entrepreneurs, Donald Trump.  

There will be a major in-class project assigned for the quarter.  Students will learn how to write a high-quality business plan.  All students will work individually or in small teams to write a business plan of their own, and will present their findings before the class.

We will examine 7 units in our textbook, Entrepreneurship: Ideas in Action.  Here’s a list of what we’ll be covering:

Unit 1 – Should You Become an Entrepreneur?

·       Entrepreneurs: Past and Present

·       Is Entrepreneurship Right for You?

·       Identify Business Opportunities and Set Goals

Unit 2 – What Skills Do Entrepreneurs Need

·       Communication Skills

·       Math / Technology Skills

·       Introduction to MS Excel and QuickBooks

·       Problem-Solving Skills

Unit 3– Develop a Business Plan

·       Why Do You Need a Business Plan?

·       What Goes into a Business Plan?

·       Create an Effective Business Plan

Unit 4 – Market Your Business

·       The Marketing Mix – Product, Place, Price

·       The Marketing Mix - Promotion

·       Set Marketing Goals

Unit 5 – Hire and Manage a Staff

·       Hire Employees

·       Create a Compensation Package

·       Manage Your Staff

Unit 6 – Record Keeping and Accounting

·       Set Up a Record Keeping System

·       Understand Basic Accounting

·       Track Your Inventory

·       Using Excel and QuickBooks

Unit 7– Financial Management

·       Manage Your Cash Flow

·       Analyze Your Financial Performance

·       Hire Experts

Case Studies / Case Prep

Case Studies are invaluable learning tools that often foster excellent class discussion and debate.  If you plan on attending business school one day, you will be seeing quite a few of them.  I like to assign them for the reason stated above and also to give you a leg up in terms of preparation, if studying business in college is something you hope to do.  The following is a partial list of cases we’ll look at.  We should have time for a couple:

1.      Nantucket Nectars

2.      Zoots – The Cleaner Cleaner

3.      Zip Car

4.      J Boats

5.      Sony PlayStation 2

Cases will be read in class.  I will then assign case prep for homework: 1-2 pages of notes on the most important topics that will serve as a guide for class discussion/debate on the merits of the company we’re looking at.

The Stock Market Game

We will work in teams of 3-4 and learn about the stock market.  You might have already done this if you’ve taken Intro to Business or Personal Finance with Mr. Frame.  This is a great simulation where you’re given $100,000 and compete against teams from across the state and country.  If you’re looking for a new challenge, you may be interested in Protrade.

Field Trips

We will try to take some field trips to visit and learn from local, island entrepreneurs.  I will ask the class for input on favorite businesses on the Vineyard, and we’ll try to go there.  We will also schedule an off-island field trip to my college alma mater, Babson College, for their annual celebration of entrepreneurship, Founders Day.

Each spring, Babson inducts highly successful businessmen and women into their Academy of Distinguished Entrepreneurs.  In recent years, people such as Arthur Blank (Home Depot), Paul Fireman (Reebok) and Bob Rosenberg (Dunkin Donuts) have been inducted.  Last year, a small group of business students got the opportunity to meet Magic Johnson and Bob Kraft.  At Founders Day, we will get the chance to see many student businesses in operation, and meet some world-class entrepreneurs.