School: LEAD Center/Raymore-Peculiar High School
Class: Introduction to Innovation, Business Administration and Finance, Entrepreneurship, Marketing
Instructor: Kara Kestner
Client: Baked by Bobbi
Problem: How can we best develop a merchandising plan to optimize sales, maximize profits, and enhance the overall shopping experience for customers?
Summary of Project
Students analyzed the strengths and weaknesses of a bakery for opportunities to expand business with a focus on merchandising options. They researched and designed the best and most cost-effective business merchandise, including t-shirts, crewnecks, and other items to complement Baked by Bobbi’s products as gifts for various occasions as well as products that would appeal to a new segment of the market.
Learning Standards: Introduction to Innovation Outcomes
- Introduction to Innovation
- ITI 1.1 Empathizing Using Data
- ITI 1.2 Defining Problem/Need to Ideate
- I can define a problem/need statement to ideate a multitude of ideas to approach a topic or solve a problem and use an ideate process to sort, label, and narrow choices.
- ITI 1.3 Prototyping & Testing
- I can create a physical prototype (for a product) and/or visual representation (for a service/idea) that clearly articulates an innovative idea and develops a process to test the prototype with stakeholders, as well as show evidence of risks taken and resilience after failure.
- ITI 1.4 Using Professional Communication
- I consistently use professional communication (interpersonal, ethical, presentation, and customer service skills).
- ITI 1.5 Participating in Entrepreneurial Organizations
- I can demonstrate my participation in a variety of entrepreneurial organizations, internships, and/or certifications/licensures by documenting lessons learned and real-world applications from my experiences.
- ITI 1.6 Demonstrating Project Management & Communication Strategies
- I consistently demonstrate effective organizational, project management, and communication strategies in a team setting.
- ITI 1.7 Documenting & Implementing a Research-based Marketing Mix
- I can document and implement a research-based marketing mix for a product, service, or idea.
- ITI 1.8 Using Steps of Selling Process
- I effectively use the steps of the selling process to communicate my product, service, or idea.
- ITI 1.9 Budgeting & Creating Financial Records
- I can budget future needs and create financial records/statements by analyzing financial data influenced by internal and external factors in order to make short-term and long-term decisions.
- ITI 1.10 Explaining Economic Principles
Learning Standards: Advanced Entrepreneurship Outcomes
- ENT 2.1 Applying Design Thinking Process
- I can apply the design thinking process to fulfill a need in the marketplace with a new idea, new product, or new service.
- ENT 2.2 Using Professional Customer Service Skills
- I can use professional customer service skills in the business entrepreneurial setting
- ENT 2.3 Applying Human Resource Management Skills
- I can apply a variety of human resource management skills.
- ENT 2.4 Requesting a Business Loan
- I can create financial records and statements.
- ENT 2.5 Designing an Operations Plan
- I can apply operations management principles and procedures to design an operations plan.
- ENT 2.6 Creating a Marketing Plan
- I can apply fundamental marketing concepts including Target Market, Sales Strategy, and Competitive Analysis in order to create a marketing plan
- ENT 2.7 Explaining Economic Principles
- I can explain how economic principles relate to small business/proprietorship operations.
- ENT 2.8 Participating in Entrepreneurial Organizations
- I can participate in a variety of entrepreneurial organizations, internships, and/or certifications or licensures.
- ENT 2.9 Creating Business Plans & Proposals
- I can create business plans and proposals for a variety of purposes.
- ENT 2.10 Justifying Choices Using Sources
- I can justify my choices using research, evidence, and reasoning while citing my sources correctly.
Learning Standards: Business Administration & Finance Outcomes
- BAF 1.1 Writing Internal & External Business Correspondence
- I can write internal and external business correspondence to convey and obtain information effectively.
- BAF 1.2 Applying Economic Concepts
- I can apply economic concepts to a variety of business situations.
- BAF 1.3 Applying Ethics
- I can apply ethics to demonstrate trustworthiness to staff. Including, but not limited to complying with security rules, regulations, and codes (e.g. property, privacy, access, confidentiality).
- BAF 1.4 Managing Financial Resources
- I can demonstrate knowledge of tools, strategies, and systems used to maintain, monitor, control, and plan the use of financial resources.
- BAF 1.5 Use IT Tools
- I can utilize information technology tools to manage and perform work responsibilities.
- BAF 1.6 Analyzing a Business
- I can analyze a business in order to improve functionality and activities.
- BAF 1.7 Acquiring Knowledge of the Legal Environment
- I can acquire foundational knowledge of the legal environment in which businesses operate to protect the company’s well-being.
- BAF 1.8 Recognizing Management Contributions to Success
- Recognize how management contributes to the success of a business.
- BAF 1.9 Applying Accounting Principals
- Apply basic accounting principles to business transactions.
- BAF 1.10 Implementing & Analyzing Accounting Cycle Process
- Implement and analyze the financial statements (e.g., income statement, balance sheet, cash flow statements, and statement of net worth) as part of the accounting cycle process for a business and/or project.