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STUDENTS IN FREE ENTERPRISE
SIFE Team - Regional Competition
Baltimore, Maryland
Annual Report
April 5, 2001
Results: 2 Year Division
Awards - 1st Runner-UP & Rookie of the Year
Project Listing:
The Argentine School (A1) Time: 25 hrs - 3 Captains
Focus: Marketing, Consumer Spending & InvestingThe Argentine School (A2) Time: 15 hrs - 3 Captains
Main Focus: Global Economy, Ethics, Spending & EntrepreneurshipEntrepreneurial Advocates Inc. (EA) Time: 120 hrs - 1 Captain
Main Focus: All aspects of business developmentSt. Jude's School (J1) Time: 20 hrs - 3 Captains
Main Focus: MarketingLakewood Elementary School (L1) Time: 20 hrs - 6 Captains
Main Focus: MarketingLakewood Elementary School (L2) Time: 25 hrs - 3 Captains
Main Focus: Business Competition
Team Members:
Michael Camardi, Paul Corey, Melissa Cummings, Julia Feldman, Diana Gonzaléz, Adesike Majolagbe, Monica Megyesi, Carmen Menéndez, Pablo Paganini, Emil Parker, Mike Somerville.
View Powerpoint Presentantion- coming soon
Summaries:
We focused most of our projects on teaching
local public and private school students. Through creative and innovative
presentations, we were able to teach these children the fundamental concepts
of the free enterprise system. Some of our members also assisted
local entrepreneurs in developing their business model through Entrepreneurial
Advocates, Inc. Many of our projects had a global focus.
In some cases, the global economy was explicitly discussed; in other cases,
we implicitly taught international students about the global market through
internationally focused activities and bi-lingual presentations. (L2, A1,
A2, EA)
The "Cash Cow & Business Attitude" program
was created with the goal of spreading the free market economy concept
to 4th & 8th graders. We worked with students who were selected
to participate in an interactive technological presentation. We presented
it to two different groups. The core concept revolved around the
areas of Investment (Banking/Savings), Marketing, and Spending. The contrast
and similarities, which arose from each presentation, provided the foundation
to discuss the impacts of business-related issues in the student's daily
lives. (A1, A2) Part I of this project placed an emphasis on
educating 4th grade Hispanic students from the Argentine School on the
pros and cons of investing and spending their money along with marketing
their resources. Divided into groups, the children decided how to use their
money effectively. (A1) The goal of Entrepreneurial Advocates, Inc. is
to provide mentoring and support to aspiring entrepreneurs in all aspects
of business operations. From implementing a business plan through
opening an actual business, we have been able to apply theoretical classroom
instruction in providing support to ambitious future and current business
owners. (EA) Management, delegation, and supervising skills
form the basic building blocks of a successful and productive company.
Interpersonal and human relations in the workplace take precedence in the
formation of a better, more united, work environment. In our ongoing project
with Entrepreneurial Advocates, Inc., one of our major ventures is to provide
management instruction. As small business owners, our clients are
faced with management operations at its primary level on a daily basis.
Through bi-weekly meetings, we are able to convey knowledge that we gain
in the classroom to these business owners; information that may facilitate
their daily management operations. (EA) The fundamental goal of Entrepreneurial Advocates,
Inc. is not only to aid in opening new businesses, but also to inspire
aspiring entrepreneurs to solidify their dreams into working business plans.
(EA) Marketing concepts created the basis for a creative
drama presentation based on the book “Selling the Wheel.” At Lakewood
Elementary, our presentation demonstrated how Joseph, a character from
ancient Egypt, successfully created and marketed the wheel. Through
this presentation, we described the product life cycle and the marketing
process of needs recognition, product design, and marketing the finished
good. We also used video clips from the movie “Big” to reinforce
our message. Our goal was to teach these students about the marketing
process and to teach them the term “demographic.” (L1) At Entrepreneurial Advocates, Inc., we taught
entrepreneurs the importance of communicating with each other, investors,
financial institutions, employees, customers, and the surrounding community
through effective communication skills, business plans, advertising strategies
and the World Wide Web. (EA) We taught the children at St. Jude’s Catholic
School that businesses must communicate with their customers through advertising.
The discussion of several techniques used in television commercials lead
to an exercise in which the children tried to create slogans and advertisements
in order to market products such as Mountain Dew and the Clue board game.
(J1) In our venture with Entrepreneurial Advocates,
Inc., we utilized the web to conduct searches for loans and grants, marketing
firms, and other planning-related objectives. We also used Microsoft?
PowerPoint to prepare presentations to investors and financial institutions.
(EA) At Entrepreneurial Advocates, we assisted with
planning for current and future financial situations, we helped our clients
make budget, earnings and spending predictions for the first or current
year of operations, and we stressed the importance of putting aside safety
cash and making investment decisions. We also helped plan for future
funding for expansion and planning for failure of business and/or business
investments. (EA) Morality and ethics serve as the cornerstone for
achieving success in business. In the Argentine school, we taught
Hispanic students about ethical considerations when starting a business.
We later touched upon unethical and deceitful practices that are used by
certain enterprises and how the students can avoid acting in an unethical
manner. Finally and most importantly, the students realized that ethics
is the key for achieving long-term success in life, in the workplace, in
the global economy, and in a multicultural world. (A2) At Entrepreneurial Advocates, when preparing our
business owners to open and run their businesses, ethics is always an issue
that is brought up. From business practices to the way they treat
their employees, we were able to show future and current business owners
the role that ethics plays in their domain through discussions about this
important topic. Business ethics is no longer just a corporate concern.
In today’s world, ethics drives businesses to become, and remain, successful
or to go bankrupt. Whether it is the way a business reports its earnings
to its tax consultant, deals with an irate customer, makes business decisions,
or treats its employees, business – no matter how small – deal with ethical
decisions on a daily basis. (EA) In the Argentine School, we provided these students
with the ability to make wise, responsible decisions about the most effective
use of their personal monetary funds. This project had a tremendous impact
on the children's lives. First, they realized the importance of saving
and investing. Second, the children learned the importance of using
computers in a business environment. Third, kids learned the significance
of teamwork and working together to achieve a common goal. Finally, this
project is unique because, through it, we taught minority students how
to succeed in the business world. (A1) At Lakewood Elementary, we are convinced that
we succeeded in teaching the fundamentals of marketing because of the numerous
“Thank You” letters that we received from the students and because of the
enthusiastic student participation that we observed during the question-and-answer
period of our presentation. (L1) The biggest way we can measure project results
is by the actual opening of a business that we helped plan. CT Millennium,
an arcade in Ward 8 of the DC Metropolitan area, will be opening mid summer
2001. We have had the opportunity, through Entrepreneurial Advocates,
Inc., to support in the creation and development of this business.
We are proud to see this business become a part of our community. (EA) At St. Jude’s, our goal was to teach the children
some of the basic concepts behind marketing. Through drama, video
clips, and verbal explanations, we taught them about demographics, advertising,
and responsible consumerism. We utilized mass media to make our presentation
more appealing to our audience. (J1) The “Cash Cow and Business Attitude” program,
presented to the students at the Argentine school, utilized the Internet
and an interactive technological presentation to communicate the importance
of business ethics, finance, and investing to our audience. (A1, A2) One of our Business Advisory Board members, Mr.
Brian Cunningham, founded Entrepreneurial Advocates, Inc., a company with
which we have an ongoing project. Entrepreneurial Advocates, Inc.
provides mentoring services to entrepreneurs in the DC Metropolitan area.
Mentorship is provided in all steps of the business process; from creating
and revising business plans to planning for future expansion, from identifying
loans and grants to setting up and drafting presentations for financial
institutions, from evaluating locations to meeting with related investors,
from designing marketing strategies to working with ad companies, from
finalizing plans to preparing for opening day – Entrepreneurial Advocates,
Inc. is a business tool for any aspiring entrepreneur.
At Lakewood Elementary, we taught the students
about competition in the business world through an integrated drama, question
and answer, and multimedia presentation. We motivated the initial
discussion of competition through an interactive skit where the students
observed two shoe stores “selling” shoes. We involved the students
by asking them to lend us the shoes that we used for our demonstration.
These stores were in fierce competition with each other. The students
gave advice to the owners of the two stores on how to best compete.
After addressing the concept of competition, we taught the students about
the tools of competition. We discussed the importance of advertising
in competition and led the students in an analysis of several commercials,
targeted toward children. Finally, we taught the students about different
types of competition in the global market. (L2)
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