Business Basics Blastoff! Script

Warm-Up: What is a Business? (5 minutes)

Teacher: "Good morning, everyone! Today we're going to blast off into the world of business. Before we get started, I want you to think for a moment: What do you think a business is? What comes to mind when you hear that word? Don't overthink it, just share your initial ideas!"

(Allow 2-3 students to share their thoughts. Write a few keywords on the board.)

Teacher: "Great ideas! Many of you are already thinking like business owners! Our lesson today is called 'Business Basics Blastoff!' and by the end, you'll be able to define what a business is and explain its six core functions: Marketing, Management, Finance, Accounting, Production, and Procurement. This is important because businesses are everywhere, and understanding how they work helps us understand the world around us, and maybe even inspire some future entrepreneurs!"

(Transition to Business Basics Blastoff! Slide Deck - Slide 1)

Introducing the Six Functions (25 minutes)

Teacher: "At its heart, a business is an organization that provides goods or services to make a profit. But how does it actually do that? It's not just one person doing everything! Businesses, big or small, rely on different teams or 'functions' working together. We're going to explore six key functions today."

Marketing: Spreading the Word! (4 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 2)

Teacher: "First up, Marketing. Look at the slide. Marketing is all about spreading the word about a product or service and, very importantly, understanding what customers want. Think about your favorite brand of shoes, your favorite video game, or even a restaurant you love. How did you first hear about them?"

(Allow a few student responses: commercials, social media, friends, billboards.)

Teacher: "Exactly! All of those are forms of marketing! A business needs to tell people it exists, show them why their product is great, and listen to feedback to make things even better. Without marketing, no one would know about their amazing ideas!"

Management: The Captain of the Ship! (4 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 3)

Teacher: "Next, we have Management. If marketing is spreading the word, management is making sure everything actually happens! It's about organizing and directing people and resources to reach the business's goals. Think about our school. Who makes sure the classes are scheduled, the teachers are supported, and everything runs smoothly?"

(Expected answer: Principals, administrators, teachers.)

Teacher: "That's right! In a business, managers are like the captains of the ship. They set goals, hire and train employees, make decisions, and solve problems to keep the business moving forward efficiently. It's a big responsibility!"

Finance: The Money Manager! (4 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 4)

Teacher: "Now, let's talk about Finance. This is all about money! Finance handles where money comes from, where it goes, and how a business can make more of it. Imagine you're saving your allowance to buy a new game or a concert ticket. You're doing personal finance! Businesses do this on a much larger scale."

Teacher: "They have to figure out how to pay their employees, buy supplies, and make sure they have enough money to grow. If a business doesn't manage its money well, it won't last long, no matter how great its product is."

Accounting: The Scorekeeper! (4 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 5)

Teacher: "Finally, we have Accounting. If finance is managing the money, accounting is keeping track of all the money. It's about recording, summarizing, and reporting financial transactions. Think of it like keeping score in a really important game."

Teacher: "Accountants make sure all the money coming in and going out is correctly recorded. They prepare reports that show if the business is making a profit or losing money, which helps managers make smart decisions. It's all about accuracy and making sure everything adds up!"

Production: Making It Happen! (4 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 6)

Teacher: "Next up is Production. This function is all about actually creating the products or delivering the services a business offers. If a company sells sneakers, production is the part of the business that designs and builds those sneakers! If a restaurant sells food, production is the cooking and preparing of those meals."

Teacher: "Think about it: whether it's making a physical item like a car, or providing a service like a haircut or a concert, production is where the magic happens and the value is created!"

Procurement: Getting What You Need! (5 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 7)

Teacher: "And last but not least, we have Procurement. This might sound like a fancy word, but it just means the process of buying the goods and services a business needs to operate. Imagine a baker. What do they need to make bread? Flour, sugar, yeast, ovens! Procurement is the process of getting all those ingredients and equipment."

Teacher: "A car company needs steel, tires, and glass. A school needs textbooks, desks, and computers. The procurement team makes sure the business has everything it needs, at the right time and at a good price, so that production can happen and the business can keep running!"

Activity: Business Functions Match-Up (10 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 8)

Teacher: "Alright, you've heard about all six functions. Now, let's see if you can apply what you've learned! I'm going to hand out the Business Functions Match-Up Activity. On this sheet, you'll find different scenarios or descriptions. Your task is to match each one to the correct business function: Marketing, Management, Finance, Accounting, Production, or Procurement."

(Distribute Business Functions Match-Up Activity. Provide a time limit, e.g., 7 minutes.)

Teacher: "You can work individually or in pairs, whatever you prefer. I'll walk around if you have any questions. Ready, set, go!"

(Circulate, answer questions, provide hints.)

Teacher: "Alright, let's go over some of these together! Who can tell me which function matches scenario number 1? Why?"

(Review answers briefly as a class. Use the My Business Idea Worksheet Answer Key as a reference.)

Application: My Business Idea (5 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 9)

Teacher: "Excellent job with the activity! Now, let's get your creative juices flowing. I'm handing out the My Business Idea Worksheet. For the next five minutes, I want you to imagine you could start ANY business – big or small, crazy or simple. What would it be? Then, briefly think about how Marketing, Management, Finance, Accounting, Production, and Procurement would each play a role in your imaginary business. This is just a quick brainstorm, so have fun with it!"

(Distribute My Business Idea Worksheet. Circulate to encourage ideas.)

Cool-Down: Business Brainstorm (5 minutes)

(Transition to Business Basics Blastoff! Slide Deck - Slide 10)

Teacher: "Time is almost up! To wrap up our 'Business Basics Blastoff!' today, please take out your Business Brainstorm Cool Down sheet. I want you to quickly write down one new thing you learned about businesses today, or one question you still have that you're curious about."

(Collect cool-down sheets or allow a few students to share verbally.)

Teacher: "Fantastic work today, everyone! You've taken your first steps into understanding the exciting world of business. Keep an eye out for how these six functions are at play in the businesses you encounter every day! See you next time!"

Business Functions Match-Up Activity

Instructions: Read each scenario below and decide which core business function it primarily represents: Marketing, Management, Finance, Accounting, Production, or Procurement. Write the correct function in the space provided.

1. A company decides to run advertisements on social media to promote its new line of sneakers.
   
   
   
   

2. The CEO of a large corporation holds a meeting to set the company's goals for the next year and decides which projects to prioritize.
   
   
   
   

3. A small bakery tracks all of its daily sales and expenses to see how much profit it made that month.
   
   
   
   

4. A car manufacturer researches what colors and features teenagers prefer in a new car model.
   
   
   
   

5. The owner of a restaurant applies for a bank loan to open a second location.
   
   
   
   

6. A store hires new employees and trains them on how to use the cash register and assist customers.
   
   
   
   

7. A company creates a detailed budget to ensure it doesn't spend more money than it earns in the upcoming quarter.
   
   
   
   

8. An accountant prepares a report showing the company's total income and expenses for the past year to help with tax season.
   
   
   
   

9. A clothing brand uses celebrity endorsements to make its products more appealing to young adults.
   
   
   
   

10. A team leader organizes a schedule for their employees to ensure all tasks are completed efficiently by the deadline.
    
    
    
    

11. A toy company designs a new action figure and then manufactures thousands of them in its factory.
    
    
    
    

12. A coffee shop orders a new supply of coffee beans, milk, and paper cups from its distributors every week.
    
    
    
    

My Business Idea Worksheet

Instructions: Imagine you are going to start your very own business! What kind of business would it be? Briefly describe your idea and then explain how each of the six core business functions (Marketing, Management, Finance, Accounting, Production, and Procurement) would be important for your business.

My Business Idea:

Name of my business:

What my business would do/sell (product or service):

How the Six Functions Apply:

1. Marketing: How would you let people know about your business and convince them to buy your product or service?

2. Management: How would you organize your business, make decisions, and lead your team (even if it's just you to start!)?

3. Finance: How would you get money to start your business, and how would you handle the money coming in and going out?

4. Accounting: How would you keep track of all the money transactions (sales, expenses, profits) to know if your business is successful?

5. Production: How would your business create its products or deliver its services?

6. Procurement: How would your business get all the supplies, materials, and resources it needs to operate?

Business Functions Match-Up Activity Answer Key

1. Marketing: A company decides to run advertisements on social media to promote its new line of sneakers.
Reasoning: Advertisements are a primary tool for marketing to reach customers and promote products.

2. Management: The CEO of a large corporation holds a meeting to set the company's goals for the next year and decides which projects to prioritize.
Reasoning: Setting goals, making strategic decisions, and prioritizing projects are key responsibilities of management.

3. Accounting: A small bakery tracks all of its daily sales and expenses to see how much profit it made that month.
Reasoning: Tracking sales and expenses to determine profit involves recording financial transactions, which is the core of accounting.

4. Marketing: A car manufacturer researches what colors and features teenagers prefer in a new car model.
Reasoning: Market research to understand customer preferences is a crucial aspect of marketing.

5. Finance: The owner of a restaurant applies for a bank loan to open a second location.
Reasoning: Seeking capital (like a loan) to fund expansion is a financial decision related to acquiring and managing funds.

6. Management: A store hires new employees and trains them on how to use the cash register and assist customers.
Reasoning: Hiring, training, and deploying staff are all functions of human resource management, a part of overall management.

7. Finance: A company creates a detailed budget to ensure it doesn't spend more money than it earns in the upcoming quarter.
Reasoning: Budgeting involves planning and controlling the allocation of financial resources, which is a key finance function.

8. Accounting: An accountant prepares a report showing the company's total income and expenses for the past year to help with tax season.
Reasoning: Preparing financial reports and summaries of income and expenses is a primary task of accounting, especially for regulatory purposes like taxes.

9. Marketing: A clothing brand uses celebrity endorsements to make its products more appealing to young adults.
Reasoning: Using endorsements to attract a target demographic is a promotional strategy, which falls under marketing.

10. Management: A team leader organizes a schedule for their employees to ensure all tasks are completed efficiently by the deadline.
Reasoning: Organizing work, creating schedules, and ensuring efficient task completion are all aspects of management and operations.

11. Production: A toy company designs a new action figure and then manufactures thousands of them in its factory.
Reasoning: The act of designing and manufacturing the product falls under the production function.

12. Procurement: A coffee shop orders a new supply of coffee beans, milk, and paper cups from its distributors every week.
Reasoning: Ordering and acquiring the necessary supplies for the business to operate is the core of procurement.

Business Brainstorm Cool Down

Instructions: Take a moment to reflect on today's lesson. In the space below, write down:

• One new thing you learned about what a business is or its four functions.
• One question you still have or something you're curious about regarding businesses.

One new thing I learned:

One question I still have: