Final Report Template
Stage 3
***Our Monitoring ***
Strongly disagree / Disagree / Neither Agree nor disagree / Agree / Strongly agreeSTUDENTS should answer questions 1-4
1. Participating in the school business made us want to come to school more. / 1 / 2 / 3 / 4 / 5
2. Participating in the school business provided us with relevant life skills. / 1 / 2 / 3 / 4 / 5
3. After participating in the school business we feel confident that we could plan and set up our own business in the future. / 1 / 2 / 3 / 4 / 5
4. After participating in the school business we felt better able to identify problems and come up with alternative solutions. / 1 / 2 / 3 / 4 / 5
Ask your TEACHER to answer questions 5 - 6
5. As a result of participation in the School Enterprise Challenge I have set up my own business / Yes No
6. As a result of participation in the School Enterprise Challenge I plan to set up my own business in the future / Yes No
Please circle ONE Number in each row. Thinking back over your participation in your school business: Do you strongly agree (5), agree (4), neither agree nor disagree (3), disagree (2) or strongly disagree (1) with each of the statements below. There are no right or wrong answers here. There are no marks for this section but your answers will help us to develop the School Enterprise Challenge for the future.
Your School Detailsa. School Name / Silver Oaks Schools & College
b. Country / Pakistan
c. Business Name / Trash to Treasure
d. Business Activity / Value Creation while Recycling
e. Main product / service / Hand bags, Frames, Cushions, Pencil holders, Wall Hangings
f. Brief description of your school business / Trash into Treasure
g. Number of students in business team / Boys=15 / Girls=22 / Total =37
h. Number of students in whole school / 4675
i. Your school business social media links (Facebook page, Twitter Blogs, etc.) / www.silveroaks.edu.pk
Face Book Page: Silver Oaks Schools & College
Financial Summary
You will be able to complete this section AFTER you have completed Sections A-F from the Financial Plan on Page 6. This section is really important as it gives the judges a quick overview of your Finances. Please note this section should be filled in in US Dollars.
Estimated in Business Plan (Stage 2) / Actual (E)
Budget Period of Financial Plan / 4 months / 4 months
Start-Up Costs (Actual) Insert answer from Section A / 216$ / 208$
Total Income (Actual) Insert answer from Section B / 649$ / 672$
Total Direct Costs (Actual) Insert answer from Section C / 216$ / 208$
Gross Profit (Actual) Insert answer from Section D / 433$ / 464$
Total Indirect Costs (Actual) Insert answer from Section E / 101$ / 72$
Net Profit (Actual) Insert answer from Section F / 332$ / 392$
PART ONE: FINAL REPORT NARRATIVE
Section A: Main Achievements
1. Please tell us the top five things that your school has achieved in the School Enterprise Challenge programme. There are no marks for this question; however, your answers to this question help us to understand your school business better.
1. Handbags
2. Cushions
3. Frames
4. Pencil holders
5. Wall Hangings / Baskets (Residual Items)
Section B: Business Implementation
TOP TIP!
These questions will give you the chance to show us how you actually implemented your school business. Please refer back to your Business Plan template if you need help to answer these questions.
2. Operational Plan: How did you actually produce your product/service? Please explain clearly your production process.(10)s
We made assembly arrangements and collected waste material like newspapers, empty jam bottles, old & extra T-Shirts, used disposable glasses, empty shoe boxes and broken wasted jewellery etc.
We selected required material and recycled it.
With the raw materials in place, students made hand bags with newspapers, cushions with T-Shirts, pencil holders with jam bottles and photo frames with shoe boxes. One sub-team, using the remaining material, also produced baskets and wall hangings from the residual material.
3. Marketing &Sales: Did you actually sell your product/service to the customers identified on your Market Research? If not, why? Who was your Target Market? (10)
Our target market was students of different grades, their parents, staff members and other community members. So we actually sold our products to the customers identified on our market research (Phase-1).
Phase-II of the sale is yet to be completed i.e. the remaining stock is to sold at Global Citizenship Exhibition on November 26. The target market for that event will be much higher as the entire school’s parents / teachers / students will be visiting that exhibition.
Please tell us about your 4 P’s (Product, Price, Place, Promotion) now that you actually started your school business.
a. Product – What was your product?
Hand bags,cushions, photoframes, pencil holders (Residual products not included in the initial plan: wall hangings, baskets).
b. Price – What price did you sell it at?
Different prices .(Handbags=150($1.44); photoframes=100($0.96); pencil holders=50($0.48); cushions=150($1.44)) . So the selling price was the planned price.
c. Place – Where did you sell your product?
Phase 1: Stall was set up at Parent-Teacher Conference, at 5 locations (Sep 17, 2016) , in line with the plan.
Phase 2: Goods in stock, in line with the plan, will be displayed at our annual Global Citizenship Exhibition, scheduled for November 26, 2016.
Promotion – How did you promote your product? E.g. Did you hold any launch event?
Assembly announcements, social media channel (school website; facebook page) and the help of team mentors to have the announcement made at other campuses.
4. Evidence: Please include here any evidence that shows you actually implemented your school business; such as examples of records kept, press releases (if any), one-two photos from the launch event (if any), one-two photos of the team running the business. You can get 5 points if you answer to this question. Note: at the end of this Narrative section you will find an Appendix for any other additional information you want to add.
Section C: Challenges and Solutions
TOP TIP!
Your answers to these questions will test your innovation and creativity in setting up your business. Don’t be afraid of writing about your problems or things that went wrong with your business. Recognising and addressing problems are key skills for entrepreneurship.
5. What were the biggest challenges you faced when planning, running and/or implementing your business and how did you overcome them? Please give us some evidence of your innovation and creativity when solving these challenges (300 words max).(10)
The biggest challenge was time. When we were working on our products, it was revision week and students were preparing for their approaching Home Task Assessments. Students managed to complete their production work during their lunch break, half-an-hour dedicated after classes and at home.
Each team came up with: (a) joint action plan meeting during breaks; (b) a distributed time plan for each member (so that the entire team does not take out extra time together) for after-school hours / home-based activities.
The key learning here was: Given the limitation (time) & constraint (need for multi-tasking between enterprise activity and examination preparation), planning as a team and holding to account each member for his individual responsibility jointly is called team-work and can help overcome the stiffest of challenges.
Section D: Outcomes
6. How have the students benefitted from the running of the school business? Please provide specific examples on each of the following areas.(5)
a. Aspirations: Aspirations are defined as a young person’s ambitions and realistic goals of the future for themselves and their family/wider community.
Students got aspiration through this project. Not only participants but other students were also inspired and were showing great interest to be a part of this project in future. This project helped students in understanding how to go about formulating and executing a plan and the recognition that no plan, however basic or advanced, will be implemented without effort, hard work and commitment. This will allow them to set their goals for future life.
b. Knowledge Skills: Knowledge Skills are defined as the facts, information, and abilities acquired through experience or education.
This was a project of the students, for the students, by the students. Ownership of formulating plans, understanding enterprise process, participating in production, marketing, sales and doing so as a team, as well as individuals, was a source of far-reaching learning.
c. Attitudes: Attitudes are defined as a manner of thinking, feeling or behaving that reflects a state of mind or disposition; the way a person views something or tends to behave towards it.
This project helped to improve student’s attitude. They became more responsible, confident, helpful, cooperative and skilful. It helped them to be more disciplined.
7. How has the school benefitted from the running of the business? Please provide specific examples.(5)
School provided a platform to students to develop and enhance their hidden talents and skills through this business project. Confident, creative, skilful and disciplined students are an actual success of a school. The purpose of this project was to “light a candle” of experiencing entrepreneurship. While only 37 students participated in this pilot, over 4700 students, 500 staff and 9000 plus parents will see the effort, when the project closes on November 26. This should be a source of encouragement, to many, to allow creativity and “trying out” new things in an environment where parents are entirely focused on pre-determined path for their children.
Section E: People, Profit, Planet
TOP TIP!
Remember your business needs to address all 3 People, Profit, Planet criteria to win our Top Global prize. Extra points will be awarded to the most innovative answers in this section.
8. People: How did people benefit from your business?
Pupils: Experiencing entrepreneurship;
Teachers: Experiencing mentoring on a new area;
Parents: Realising expandability of skills of their children.
Please ask a teacher, a student, a parent and a customer what they think about your school business and how it has made an impact on their lives. Please include their quotes here (please try to keep them short).(5)
9. Planet: What difference has your business had on the environment? How has your business improved the environment around you? Please be clear and specific and include one or two pictures (if you have any). (5)
We have used discarded and wasted material which helped us hone-in on the need for recycling – a major support for protecting the environment. Empty plastic bottles when burnt cause air pollution. We turned them into pencil holders and avoided air pollution. People usually throw newspapers, disposable glasses and other waste materials out in streets (unfortunately, in heaps in a developing country like Pakistan) which causes land pollution and other disease. The project, in its own way, has created an awareness that will do its bit in also improving civics.
10. Profit: How did you raise your start-up capital? What approaches did you take to maximize your profits? What would you do with your profits? (5)
1. In addition to assembly announcement at the 5 campuses where team members are based, student teams used (a) social media channel (school website) to raise awreness about the project for collecting raw-material from other 17 locations; (b) used the help of team mentors to have the announcement made at other campuses;
2. Students used School cafeteria space for material collection and art rooms for converting these materials to end-products. They used School furniture (tables/chairs) to set up stalls at the 5 target events;
3. Transport cost will be involved to transport stock from 5 locations to the central location of the Global Citizenship Exhibition on November 26. Funds generated from the product already sold will be used to cover the transport as well as exhibition set-up (stall ) cost.
Section F: Business Development and Sustainability
TOP TIP!
A sustainable business is one that demonstrates the ability to continue for an indefinite period of time.
11. Business Development - What are your future plans for your enterprise? Please provide specific examples (200 words max). As an example, think about what other products you want to develop, etc.(5)
The project has to be implemented in two phases – Phase 1 has been completed (5 locations; limited audience at PTC; limited sale). However, the viability of the business is evident from Phase 1. The entire start-up cost; indirect cost; and marginal profit has already been recovered.
We are heading into Phase II, with ZERO cost of sales (as residual stock is already in place). Conversely, the “actual” profit given above is based on the projection that in Phase II, the entire residual stock will be sold (it is realistic given that the foot-fall at the exhibition will be 9 times that of Phase I).
Once both Phases are complete of November 26, product profitability will be calculated after stock-loss, un-sold stock and damages to calculate net profit per product. This information, then, would be used to determine product mix / quantities / pricing for the next cycle.
12. Operational Planning -How are you planning to run the business next year? Will new students be involved in the programme? Please tell us the steps you will take next year to keep your business running and continue developing it (200 words max). (5)
Once both phases are complete, on November 26:
1. The start-up cost plus indirect cost would be taken “out” of the business to keep as “equity/start-up fund” for the next year’s enterprise challenge;
2. The remaining profit will be distributed, equally, amongst the 37 participating team members after taking away some cost for “souvenirs” for this year’s enterprise challenge participants;
3. One team member, for each sub-team, will be designated as a team-leader for next year;
4. The project will be run for a longer period i.e. 2 terms next year;