The Financial Crisis and Small Business in the Classroom – Part 4
This is the last of a 4-part series on the financial crisis, small business, and exercises that can be used to teach about the importance of both of these topics. This series is based on specific takeaways from SBA Acting Administrator Sandy Baruah. See post #1, post #2, and post #3.
The topic for today: Business Planning
Business planning is a popular topic in business schools and entrepreneur-inhabited garages, basements, and corporate boardrooms across the world. Why is it particularly important now? In discussing how to address the challenge of obtaining credit, Baruah suggests the number one thing a business owner should do is provide a solid business plan. Show sound thinking behind your business and the approach to your market.
Level A: Lead an overview discussion in class about the importance of business planning. Without any background or research, just using common sense, what might students want to see in a business plan if they were an investor or banker? (Next: Compare answers to business plan template from “Level B”).
Level B: Engage students in an EITC business plan exercise discussion (3-3)and, as an even more advanced step, allow students to build their own business plan (3-4). Reference: Business planning: Module 3, Slides 4 to 43. (EITC free curriculum):
Entry filed under: Uncategorized. Tags: Business Plan Exercises, Business Planning, credit, Financial Crisis, financial exercises, Financial Literacy, financial statements, free tools for teachers, Sandy Baruah, Small Busines.