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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 & Investing

The Argentine School (A2) Time: 15 hrs - 3 Captains
 Main Focus: Global Economy, Ethics, Spending & Entrepreneurship

Entrepreneurial Advocates Inc. (EA) Time: 120 hrs - 1 Captain
Main Focus: All aspects of business development

St. Jude's School (J1) Time: 20 hrs - 3 Captains
Main Focus: Marketing

Lakewood Elementary School (L1) Time: 20 hrs - 6 Captains
Main Focus: Marketing

Lakewood 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)
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)

                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.
 
 

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Last Updated 11/25/01
© Copyright 2001. All rights reserved. Contact: Team A