Bunker Hill Community College

Community Center for Entrepreneurship

2010 End of Year Report to the Coleman Foundation

The Community Center for Entrepreneurship (CCE) at Bunker Hill Community College received its third and Elevator Grant from the Coleman Foundation in January 2010. CCE’s goals for the grant were as follows:

• Host Facebook and Twitter discussion forum for student entrepreneurs.

• College students mentor high school entrepreneurs – a Pathway to Bunker Hill Community College (BHCC).

• Host events for both high schools teaching the National Foundation for Teaching Entrepreneurship (NFTE) curriculum and the Young Entrepreneurs Alliance (YEA).

• Run a summer program for high school students.

This End-of-Year Report discusses steps taken and accomplishments achieved relating to these four grant objectives.

Host Facebook and Twitter discussion forum for student entrepreneurs.

Throughout the 2010 Calendar year, the CCE worked with a BHCC student from the Computer and Information Technology Department to develop and manage our social media presence. This student developed both a ‘friend’ page and a ‘fan’ page for the Center on Facebook and uploaded video content developed from 2009 CCE events in order to develop and launch an ongoing interactive forum for students who are linked to the CCE Facebook page.

As the year progressed, we discovered that the majority of ‘friends’ and ‘fans’ of the CCE on Facebook were local professionals rather than BHCC students, so we opted to focus on continuing to develop our Facebook presence to try and attract students to the page before starting a Twitter discussion forum. We hosted information tables and Entrepreneurship Events for the CCE at which we asked for students to sign up to be on our mailing list and used that data to encourage students to connect to our Facebook page, but this did not increase our student population of friends or fans, and attempts to launch discussions were not continued by users.

Key lesson learned: sharing interactive content multiple times a day, every day, may be a better way to maintain an engaged friend and fan base for the CCE but students may not be using Facebook for educational/informative content and discussion as much as local professionals are.

College students mentor high school entrepreneurs – a Pathway to Bunker Hill Community College.

In May 2010, the CCE connected with a group of BHCC students that had sought out business coaching from the Center or had already launched their own independent business efforts and invited them to a joint event with high school student entrepreneurs who are part of the Young Entrepreneurs Alliance. This organization operates in vocational and technical high schools in Massachusetts and helps them develop a student-run business as part of their existing course content. We hoped this event would serve to launch ongoing mentoring relationships between BHCC and high school student entrepreneurs.

While the event was informative and served as the foundation for our ongoing relationship with the Young Entrepreneurs Alliance, BHCC student feedback was that they were unable to make the necessary commitment to ongoing mentoring relationships outside of school. As a result, we refocused our efforts on developing events in which "situational mentoring” could take place between our students and local high school students. We invited BHCC students to our summer high school entrepreneurship camp and developed two entrepreneurship events for high school students during Global Entrepreneurship Week. Unfortunately, BHCC student work schedules conflicted with our summer camp schedule and one of the two Global Entrepreneurship Week events had to be postponed due to MCAS preparation schedules. The event that was hosted, in partnership with our Tech Prep Program at BHCC, brought 120 high school students from four Boston area high schools and provided these students with the opportunity to connect with students and faculty in our Professional Studies programs that most often inspire students to start their own businesses, namely Hospitality, Computer and Information Technology, Web Design and Gaming, Graphic Design and Business. This provided opportunities for BHCC students to share their experiences and answer questions of high school students about both their academic experiences as well as their entrepreneurial interests.

As part of the Tech Prep event, we developed a student survey to gather data about student interests in entrepreneurship and their planned course of study in post-secondary education (if any). Our survey found that 74% of students were interested in starting their own business and of those, 57% planned to study business in college. The rest of the responses were evenly distributed across professional studies categories.

Key lesson learned: structured, event-focused interactions between BHCC and high school students provides a mentoring structure for that is a more realistic fit for BHCC student schedules.

Host events for both high schools teaching the National Foundation for Teaching Entrepreneurship (NFTE) curriculum and the Young Entrepreneurs Alliance (YEA).

As discussed previously in this report, the CCE hosted a joint event with YEA in May 2010. The second high school event scheduled for Global Entrepreneurship Week that had to be postponed was a joint event with YEA, where students in the schools that planned to attend were unable to leave campus due to MCAS examination preparation sessions. The CCE plans to reschedule that YEA event for Spring 2011.

Due to both a decrease in the number of NFTE chapters operating in the Boston area and a change in the leadership of the New England NFTE chapter, the CCE was unable to schedule joint events with NFTE chapters in 2010. We are in discussion with Jennifer Green, the new Program Director for NFTE New England regarding possible events in the Spring of 2011.

Run a summer program for high school students.

The CCE ran a three-week summer entrepreneurship program for high school students in July of 2010 (see Appendix 1 for Curriculum outline). The program curriculum and lesson plans were developed by an MBA intern from Simmons School of Management and was delivered by another MBA intern, also from Simmons, in conjunction with the Coordinator of the CCE and the BHCC Entrepreneur-In-Residence, Joe Coté.

Highlights of the program included a field trip to the flagship Life Is Good Retail Store on Newbury Street in Boston, MA where students got to meet and ask questions of one of the Founders of the Company. At the end of the three weeks, the students gave a 5 minute presentation about the business that they want to start, covering all of the content areas taught during the three weeks.

Conclusion

While high school (and college) students rely upon social networking for their communications, they apparently don’t go to Facebook for academic-related information. BHCC is currently developing ‘Life Map’, a one-stop portal for students. We will be able to communicate with all entrepreneurship students at BHCC via this portal, though it still leaves us the challenge of finding the most effective way of direct communication with high school students.

The YEA, a local, small organization, because of its organizational nature, is far easier to work with than any state or national organization. The best high school student attendance at BHCC’s entrepreneurship events has been either through the YEA, or through the Perkins Tech Prep program when our Tech Prep Coordinator has worked directly with high school Guidance Counselors. We will continue to work with her. Mentoring of high school students by BHCC students will continue to be event-focused.

The Coleman Grant has been key to the CCE ‘rounding-off’ its service to entrepreneurs of all ages and experience. We are now in a good position to ascend to the next level of our entrepreneurship initiative which is the development of a student-run business of campus.

Appendix 1: Summer High School Program Curriculum

Week 1

Instruction

Writing

Activities

Speakers/Videos

Field trip

Mon July 5	Tue July 6	Wed July 7	Thu July 8	Fri July 9
School Holiday	Intro to Business & Market Forces	Enterprises and Business Models	Economics and Marketing - Introductions	Marketing – product/Placement/(and business positioning)
	9am PROGRAM ORIENTATION	10-10:30: Reflecting On Pitching	10-10:30: Reflecting on Your Mantra and Business Model	10-10:30: Reflecting on Marketing
	10-10:30 Program Overview
	10:30-11:30 Brainstorming Entrepreneurship	10:30-12:25 Identifying and Understanding Your Industry Parts 1 & 2	10:30-11:15 Intro to Supply and Demand	10:30-11:40 Evaluating the Marketing of Johnny Cupcakes
	11:30-12:25 Exploring Characteristics of Entrepreneurs		11:15-12:25 Supply & Demand Game	11:40-12:10 – Travel to Newbury Street/Introduce Worksheets for observation
	12:25-1pm Break	12:25-1pm Break	12:25-1pm Break	12:10-1:10 Lunch downtown
	1-2pm Creating Your Pitch	1-2 Business Model Analysis	1-1:45 Intro to Marketing	1:30-2:30 Visits to Life is Good and Johnny Cupcakes
	2-3pm Guest Speaker – German Lam. Creating a Vision for your Business/Pitching/Launching	2-2:45 Guy Kawasaki Video & Debrief	1:45-2:45 Evaluating the Marketing Strategy of Life Is Good, Inc.
	3-3:25pm Journal Writing Assignment: Writing your 30 second and 5 minute business pitch	2:45-3:25 Journal Writing Assignment – Developing my business mantra and business model	2:45-3:25 Journal Writing Assignment – Products and Placement	2:30-3:25 Field trip overflow/ Debrief marketing similarities/differences between two companies

Week 2

Mon July 12	Tue July 13	Wed July 14	Thu July 15	Fri July 16
Marketing – Promotion and Price	Operations	Operations	Financials	Funding
10-10:30: Reflect on Field Trip/Last Week	10-10:30: Reflecting on Marketing	10-10:30: Reflection on Value Chains	10-10:30: Reflections on Operations	10-10:30 Reflections on Accounting
10:30-11:15 Marketing Strategies	10:30-12 Understanding the Value Chain – Parts 1 & 2	10:30-11:30 Understanding Operations Activity	10:30-11:30 Fundamentals of Balance Sheets, Income Statements, Fixed & Variable Costs	10:30-11:30 Exploring Sources of funding
11:15-12:25 Competitive Differentiation (to 12pm)/ Revisiting their Business Models	12-12:25 My Value Chain	11:30-12:25pm Operational Structures	11:30-12:25 Key Financial Ratios	11:30-12:25 Video Margaret Heffernan & Secret Millionaire
12:25-1pm Break	12:25-1pm Break	12:25-1pm Break	12:25-1pm Break	12:25-1pm Break
1-1:45pm Branding Activity	1-1:45pm Patagonia’s Footprint Chronicles Activity	1-1:30 Review of Kickass Cupcakes Bakery and Store Website	1-2:15 Financial Statements Activity	1-2 Guest Speaker –Tony Fontes The Challenges of Finding Funding
1:45-2:45pm Brand Awareness Video Game	1:45-2:15pm Travel to Patagonia Store, Newbury Street	1:30-3:25 Field Trip – Kickass Cupcakes Bakery and Store	2:15-3 Key Financial Ratios Activity	2-2:40pm Writing and Reviewing a Funding Proposal
2:45-3:25 Journal Writing Assignment – The "4 P’s” for my business	2:15-3:25pm Field Trip to Patagonia Store, Newbury Street		2:45-3:25 Journal Writing Assignment – Reflecting on the Financial Aspects of my Business	2:40-3:25pm Students will share Proposals Out-loud & Guest speaker will announce winner

Week 3

Mon July 19	Tue July 20	Wed July 21	Thu July 22	Fri July 23
Leading and Building Successful Teams	Assessing and Building Your Team	Professional Outlook	Business Ethics	Program Wrap-Up
10-10:30 Reflections on Funding Sources	10-10:30 Reflections on Leading and Building Teams	10-10:30 Reflections on Working as a Team	10-11 Business Ethics	10-11:00 Final Presentation Practice
10:30-11:30 Guest Speaker – Paul Sullivan, Exploring Characteristics of Effective Leaders	10:30-11:10 Myers-Briggs test taking	10:30-11:30 Guest Speaker Prof. Kathleen O’Neill, Presenting Yourself Professionally	11:00-12:25 Video "TEN9EIGHT” & Discuss ethical dilemma faced by competition winner featured in film
11:30-12:25 Exploring Characteristics of Effective Leaders (activity)	11:10-11:45 Discussion of results/application to career paths and team building	11:30-12:25 Learning PowerPoint		11:00-12:30 Presentations
	11:45-12:25 Team Building Exercise & Debrief – Unraveling the Knot
12:25-1pm Break	12:25-1pm Break	12:25-1pm Break	12:25-1pm Break	12:30-2pm party
1-1:30 Building Successful Teams Activity	1-2 Scavenger Hunt	1-3:25 Creating Presentations on Students’ businesses	1-1:30 Journal Writing Exercise – The ethical core of my business	2-2:45 Written reflections on the program
1:30-3 Video - The Apprentice
	2-3:25 Ice Cream Field Trip – Emack & Bolio’s; discuss benefits and challenges of working as a team			2:45-3:25 Sharing Reflections/Next steps students will take in launching their businesses
3-3:25 Discussion/Debrief of Leadership Styles in The Apprentice			1:30-3:25 Practicing the Presentation

Dear Colleagues:

On behalf of Bunker Hill Community College I would like to thank you for your vote of confidence and the honor of being the 'People's Choice Award' recipient. We are thrilled and very much looking forward to sharing our work with you at the NACCE Conference in October.

The feedback from all our summer programs has been very positive, and we are already discussing what we can offer to area high school students next summer. We also want to maintain the momentum started this summer and keep the high school students who participated in the program engaged with Bunker Hill. With no additional funding available for dual enrollment, we have to be very creative in building the high school to community college pathway.

One initiative we will be launching this fall isa student-run business on campus. In collaboration with the Young Entrepreneurs Alliance, a high school based organization, we are exploring how high school students can be involved with a student-run business at Bunker Hill. Our discussions are in their early stages, but with the assistance of our current Simmons' College graduate intern, we our developing a model which we hope other community colleges will find relevant and be able to replicate.

Part of our Elevator Grant funds the publication of student reflections. We are collecting these and look forward to sharing them with you at the end of the grant.

Again, thank you for your vote, and see you in Orlando.

Bogusia Wojciechowska

SUMMER HIGH SCHOOL ENTREPRENEURSHIP PROGRAM

BUNKER HILL COMMUNITY COLLEGE

July 2010

Lesson Plan July 6, 2010

Title: Introduction to Entrepreneurship

Objective: Students will be able to define entrepreneurship and understand the impact that it has and continues to have on the economy of the United States. They will identify key characteristics of successful entrepreneurs and identify relevant strengths within themselves. They will also have an opportunity to pitch their ventures and receive constructive feedback from peers and instructors.

Vocabulary: Entrepreneur, Entrepreneurship, Feasibility

9am-10am Entire Summer Program Orientation – A300 Lobby

Activity 1: Program Overview 10:00-10:30

Students will review the syllabus and receive an overview of the summer program. They will also be informed of educational opportunities within BHCC.

Activity 2: Brainstorming Entrepreneurship 10:30-11:30

Students will brainstorm as a whole listing key words on the board that they associate with entrepreneurship. After brainstorming, students will construct their own definition of entrepreneurship and then the facilitator will offer a textbook definition. The facilitator will then give a brief presentation on past and present entrepreneurial ventures in the US and how they have affected the economy.

Activity 3: Exploring Characteristics of Entrepreneurs 11:30-12:25

Each student will be assigned a mini biography of a successful American entrepreneur. He/she will be responsible for identifying key traits of his/her entrepreneur and presenting them to the class. Students will then identify their own characteristics that align with those of successful entrepreneurs, and identify those that they lack which need supplementing. From this activity, students will have generated a solid list of key traits of successful entrepreneurs. Below are seven possible entrepreneurs for which biographies can be created for students to read.

Oprah Winfrey, Harpo Inc.

Sam Walton, Wal-Mart

Sean Combs, Bad Boy Worldwide and Sean John Clothing

J.W. Marriott, Marriott International

Tyler Perry, The Tyler Perry Company Inc.

Mary Kay Ash, Mary Kay Cosmetics

Break 12:25PM-1:00PM

Activity 4: Creating Your Pitch 1:00-2:00

Students will be instructed on how to create an effective pitch. Students will take time to create their own pitch and will present it to the class to receive constructive feedback from peers and facilitators.

Activity 5: Guest Speaker 2:00-3:00

Guest speaker German Lam will present his venture to the class. He will discuss with the students how he began his venture, how he created the vision and mission for his business and how he effectively uses her skills, talents, and outside resources to make her business successful. [FACILITATOR WILL HAVE PREPARED QUESTIONS FOR GERMAN IN CASE STUDENTS DO NOT HAVE ANY OF THEIR OWN]

Activity 6: Journal Writing Exercise 3:00-3:25

In their journals, students will write their 30 second and 5 minute pitch for their businesses.

Lesson Plan July 7, 2010

Title: Industries and Business Models

Objective: Students will explore industries relating to their ventures, and will understand the fundamental elements of a sound business model as it pertains to their venture. They will also create a mantra for their business.

Vocabulary: Business Models, Customer Value Proposition, Market, Competition, Differentiation, Pricing, Mantra

Video: Guy Kawasaki, Columnist for Entrepreneur Magazine

http://video.google.com/videoplay?docid=-3755718939216161559#

INSTRUCTOR WILL HAVE AGENDA FOR THE DAY AND TIME ALOTTED ON THE BOARD EACH DAY

Activity 1: Reflecting and Pitching 10:00-10:30

The instructor will hand back student journals and instruct them re: issues to work on in their writing. The instructor and students will then reflect on yesterday’s learning objectives. Students will practice pitching their ventures to the class and will receive constructive feedback.

Activity 2: Identifying and Understanding your Industry

Part I: 10:30-11:00

With the help of an instructor, students will explore the various industries that exist, and will identify the industry that pertains to their business.

1) Students will read Margaret Heffernan’s blog post re: "Do you Know What Business You’re In?” to help them think about how the issue of ‘industry’ or ‘business’ can be more complex than meets the eye
http://blogs.bnet.com/management/?p=500

2) Students will write in their journals 1 paragraph about what primary and secondary business/industry they’re in and why they think that

3) Students will read what they’ve written to the class

Part II: 11:00-12:25

1) Students will identify 5 key competitors in their primary and secondary industry (see worksheet).

2) Instructor will then explain the 4 Differentiation Strategies (see PowerPoint). Students will identify which of the differentiation strategies each primary and secondary industry competitor uses.

3) Based on that information, students will select a differentiation strategy they wish to use for their business and write 1 paragraph in their journals about what differentiation strategy they have selected and why.

4) Students will present what they’ve written to the class.

Break 12:25PM-1:00PM

Activity 3: Business Model Analysis 1:00-2:00

Students will explore the four fundamental elements of a sound business model as it pertains to their business. The instructor will present the following concepts in the context of Apple Computers, specifically the iPod product: a) Value Proposition (what need or desire does your product/service fulfill), b) Target Market (who will buy your product/service, c) Competition and Differentiation Strategy (who are your competitors and what is the best way to strategically differentiate your product), and d) Revenue Model (how does your business make money)

Students will then write in their journals identifying the Value Proposition, Target Market, Competition and Differentiation Strategy and Revenue Models for their company and share them with the class

Activity 4: Guy Kawasaki Video 2:00-2:45

Activity 5: Journal Writing Assignment - Developing a Mantra for your Business 2:45-3:25

The instructor will dialogue with students regarding key concepts mentioned in the video, one of these being developing a mantra. Students will develop a mantra for their business and share it with the class.

Day 3 Lesson Plan July 8, 2010

Title: Introduction to Marketing

Objective: Students will understand the fundamentals of effective marketing. They will also participate in a trading activity that will allow them to understand how supply and demand affect pricing.

Vocabulary: Marketing, Product, Place, Price, Promotion, Supply, Demand

INSTRUCTOR WILL HAVE AGENDA FOR THE DAY AND TIME ALOTTED ON THE BOARD EACH DAY

Activity 1: Reflecting on Your Mantra and Business Model 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives. Students will practice pitching their ventures to the class and will receive constructive feedback.

Activity 2: Introducing Supply and Demand 10:30-11:15

The instructor will define supply and demand and discuss how these core components of economics impact businesses.

Activity 3: Supply and Demand Game 11:15-12:25

Students will participate in a video game that allows them to understand how to supply and demand affects pricing. The video game will be administered by the instructor.

Break 12:25PM-1:00PM

Activity 4: Introducing Marketing

Part I 1:00-1:45pm

The instructor will define what marketing is and how a good marketing strategy is a major contributor to a company’s success. The instructor will define product, place, price and promotion.

Part II 1:45-2:45 - Evaluating the Marketing Strategy of Life is Good 11:15-12:25

http://www.inc.com/magazine/20061001/life-lessons_Printer_Friendly.html

Students will identify the products and the purpose of the Life is Good company, their product design, the target market and store locations, the pricing, and how the products are promoted. They will also identify the company’s marketing strategy and determine whether or not it is successful.

Activity 5: Writing Assignment: Products and Placement 2:45-3:25

Day 5 Lesson Plan July 12, 2010

Title: Marketing, Competitive Differentiation and Branding

Objective: Students will discuss and compare the marketing strategies of both The North Face store as well as Patagonia. They will also understand the importance of competitive differentiation and brand awareness.

Vocabulary: Marketing, Product, Place, Price, Promotion, Competitive Differentiation, Branding

Activity 1: Reflecting on Last Week and Field Trip 10:00-10:30

The instructor and students will reflect on last week’s learning objectives. Students will practice pitching their ventures to the class and will receive constructive feedback.

Activity 2: Marketing Strategies 10:30-11:15

Instructor and students will discuss the findings from the field trip. As a result of the discussion, a clear marketing strategy should be presented on the board for each company separately.

Activity 3: Competitive Differentiation 11:15-12:00

The instructor will define Competitive Differentiation, and the class as a whole will begin to identify the strengths and weaknesses of each company and how they are able to differentiate themselves from each other favorably.

Activity 4: Revisiting the Business Model 12:00-12:25

Students will independently revisit their Business Models from the second class and begin adding more insightful ideas using the tools that they have learned so far.

Break: 12:25PM-1:00PM

Activity 5: Branding Activity 1-1:50pm

A Powerpoint slide will be projected in front of the students filled with logos. The students will individually write word associations for each logo. They will discuss their results as a group and the instructor will begin to address the importance of brand awareness.

Activity 6: Brand Awareness -Video Game 1:50-2:50

Students will further explore the importance of brand awareness through a video game which will be administered by the facilitator.

Activity 7: Journal Writing Assignment – Marketing "4 P’s” Pertaining to their businesses 2:50-3:25

Students will summarize the four P’s relating to their business and list ideal emotions/associations that customers will have for their company’s brand.

Day 6 Lesson Plan July 13, 2010

Title: Operations

Objective: Students will understand the importance of as well as the critical roles within a value chain.

Vocabulary: Operations, Value Chain

Field Trip: Patagonia, 346 Newbury Street, Boston - (617) 424-1776

Activity 1: Reflecting on Marketing and Branding 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Understanding the Value Chain

Part I 10:30-11:15

The Instructor will explain to students the importance of a value chain using Starbucks as an example.

Part II 11:15-12:00

The Instructor will contrast the Starbucks Value Chain to the Equal Exchange Value chain. Students will work with Excel worksheet for each supply chain to look at profit levels at each stage.

Activity 3: My Value Chain 12:00-12:25

Students will use the Value Chain map to identify key categories of businesses in their business value chain

Break: 12:25PM-1:00PM

Activity 5: Patagonia’s Value Chain 1:00-1:45

The students will pick a product highlighted on the Patagonia Footprint Chronicles web site http://www.patagonia.com/web/us/footprint/index.jsp?slc=en_US&sct=US and view all content related to that product. They will then present it to the class

Activity 5: Travel to Patagonia on Newbury Street 1:45-2:15

Activity 6: Field Trip - Patagonia 2:00-3:25

Day 7 Lesson Plan July 14, 2010

Title: Operational Structures

Objective: Students will understand the various organizational structures and the advantages and disadvantages of each.

Vocabulary: Just In Time, TPS

Field Trip: Kickass Cupcakes, 378 Highland Avenue, Somerville, MA 02144, 617-628-2877

Activity 1: Reflecting on Value Chains 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Understanding Operational Structures 10:30-11:30

The instructor will discuss operational structures and the advantages and disadvantages of each. He/she will also discuss how structures can be used to help businesses manage market demand and ensure product quality.

Activity 3: Operational Structure Activity 11:30-12:25

Students will sit in a line facing forward so they can’t see the person behind them (and with eyes closed so can’t turn around and see). The first student will be given instructions for how to complete one section of a drawing or lego construction task in a specific time frame (ideally less than it’s likely to take to show how hard it can be to work on a production line) with only parts for that specific stage. Once time is up they pass it to the next student who goes through the same process. Once it gets to the end compare it with desired end result.

What would you change to make it easier? What would be the consequences on the demand end? Try again with new product based on their adjustments. Once satisfied with it, can decide who is better at different sections of the task/how divide up steps in order to do it faster than prescribed time.

Break: 12:25PM-1:00PM

Activity 5: Review of Kickass Cupcakes web site 1:00-1:30

Students will look at Kickass Cupcakes website www.kickasscupcakes.com and reflect on how they present themselves/differentiate themselves in the market place and brainstorm together what might be some of the operational challenges facing the company. Students will also develop together a list of questions to ask Kickass Cupcakes staff.

Activity 6: Field Trip to Kickass Cupcakes in Somerville, MA 1:30-3:25

The owner must be made aware ahead of time. He/she will discuss with students operational challenges of running a bakery with products that change pretty frequently and that have a short shelf-life.

Day 8 Lesson Plan July 15, 2010

Title: Analyzing and Interpreting Financial Statements

Objective: Students will understand the fundamentals of Balance Sheet, Income Statement, and Cash Flow Statement and how they all relate. They will also create a basic Income Statement and will calculate and interpret 6 key financial ratios.

Vocabulary: Balance Sheet, Income Statement, Cash Flow Statement (and relevant vocabulary), Current Ratio, Inventory Turnover, Total Asset Turnover, Debt-Equity Ratio, Net Profit Margin, Return on Equity

Activity 1: Reflections on Operations 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Fundamentals of Balance Sheets, Income Statements, Fixed and Variable Costs 10:45-11:45

The instructor will introduce balance sheets, income statements and ways of categorizing costs as fixed and variable. The instructor will use Microsoft Excel and instruct students on basics of formatting and simple math formulas to help students type basic income statement data into an Excel workbook.

Activity 3: Key Financial Ratios 11:45-12:25

Students will be introduced to six key financial ratios (Current Ratio, Inventory Turnover, Total Asset Turnover, Debt-Equity Ratio, Net Profit Margin, Return on Equity), and will learn how to interpret them in words.

Break: 12:25PM-1:00PM

Activity 4: Financial Statements Activity 1:00-2:15

In pairs, students will have to work on completing Burger King’s Balance Sheet and Income Statement. They will be given balance sheet, income statement and ratio data in workbooks with select line items left blank, and they will have to calculate the data using Excel. The class will then discuss their results.

Activity 5 Key Financial Ratios Activity 2:15-3:00

In the same groups, students will calculate the six key financial ratios using Burger King’s financial statements. They will have to interpret each using their own words. Each group should be responsible for presenting one or two key ratios to the class.

Activity 6 Journal Writing Exercise - Reflecting on the Financial Aspect of My Business 3:00-3:25

Students will answer key questions pertaining to their business such as:

What does profit mean to me as an entrepreneur?

If I had to envision my business as "profitable”, what would that look like?

What are likely to be some of the fixed and variable costs of my business?

Which 2 of the 6 key financial ratios would be most important to my business and why?

Day 9 Lesson Plan July 16, 2010

Title: Funding

Objective: Students will explore funding options available to start-up businesses and will list the pros and cons of each.

Vocabulary: Investment/Investors, Return on Investment, Dividends, Share, Equity, Loan, Venture Capital

Video: Margaret Heffernan and Secret Millionaire

Guest Speaker: Creator and Owner of Proxy

Activity 1: Reflecting on Financial Management 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Exploring Sources of Funding 10:30-11:30

The instructor will present to students the various sources of funding available for start-up companies. They will then generate a list that shows the pros and cons of each. Students will conclude by reading a recent Entrepreneur magazine article re: sources of start-up funding http://www.entrepreneur.com/magazine/entrepreneur/2010/june/206598.html

Activity 3: Video: Margaret Heffernan and Secret Millionaire 11:30-12:25

Break: 12:25PM-1:00PM

Activity 4: Guest Speaker: Heather Jean/Tony Fontes 1:00-2:00

Heather Jean will discuss the concept of her business and what steps she took toward creating and building her business. She will dedicate a segment of her presentation on sources of funding for Proxy.

Activity 5 Writing a Funding Proposal

Part I 2:00-2:40

Students will write a business proposal to potential investors. The students will be given guidelines that help to make an effective proposal.

Part II 2:40-3:25

Day 10 Lesson Plan July 19, 2010

Title: Leading and Building Successful Teams

Objective: Students will understand the importance of building successful teams with various skills sets and background experiences. They will be able to identify key leadership characteristics, and identify effective leaders in their lives.

Vocabulary: The 5 Practices of Exemplary Leadership: Model the Way, Inspire a Shared Vision, Challenge the Process, Enable Others to Act, Encourage the Heart

(Kouzes & Posner, The Leadership Challenge, 4^th Edition, 2007.)

Video: The Apprentice Finale with Kwame as team leader

Activity 1: Reflecting on Funding 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Exploring Characteristics of Effective Leaders

Part I Guest Speaker – Paul Sullivan 10:30-11:30

Entrepreneur, Management Consultant and University of Michigan Business School Professor Paul Sullivan will come talk to the students about characteristics of effective leaders.

Part II 11:30-12:25

Students will identify a leader that they know exemplifies at least 3 of the practices mentioned in Part 1. They will write a paragraph on how this person demonstrates effective leadership, how he/she has influenced the student’s life, and how that person has improved an organization, business, etc. using these leadership practices. Students will share their written work with the class.

Break: 12:25PM-1:00PM

Activity 3: Building Successful Teams 1:00-1:30

The instructor and students will engage in a discussion about what makes a successful team. They will base their discussion on the Celtics.

· Characteristics of the Coach

· Characteristics of the team leaders

· Job descriptions of each position and the expertise necessary

· New players interacting with old players (building culture)

· Everyone playing his position effectively and respecting each other’s expertise

· Overcoming obstacles

Activity 4: Video: The Apprentice

Part I 1:30-2:30

Students will watch the finale of The Apprentice with Kwame as team leader.

Part II 2:30-3:00

Students will write answers to the following questions based on the video.

· What strategy did Kwame use in selecting his team?

· What challenges that Kwame face during the competition?

· How did Kwame respond to these challenges and was he successful?

· Which practices of exemplary leadership did Kwame demonstrate in leading his team?

· What do you think were the key reasons why Kwame lost this challenge?

· What did the opponent do that outshined Kwame?

Part III 3:00-3:25

Day 11 Lesson Plan July 20, 2010

Title: Assessing and Building Your Team

Objective: Students will take the Myers Briggs Test and will discuss the results. They will participate in team building exercises that will allow them to better understand what makes an effective team, and what it takes to be an effect team member.

Vocabulary: Extraversion, Introversion, Sensing, Intuition, Thinking, Feeling, Judging, Perceiving

Activity: BHCC Scavenger Hunt (Students should wear appropriate shoes.)

Surprise Field Trip: Ice Cream Vendor TBD (depends on Scavenger Hunt location)

Activity 1: Reflecting on Leadership 10:00-10:30

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Myers Briggs Test

Part I 10:30-11:10

Students will take the Myers Briggs Test http://www.humanmetrics.com/cgi-win/jtypes2.asp and review their results with the career and workplace content from Do What You Are that is relevant to their Myers Briggs type.

Part II 11:10-11:45

The facilitator will discuss characteristics and important skills frequently associated with each type. In addition, possible career paths for each type will be discussed.

Team Building Exercise-Unraveling the Knot 11:45-12:25

Part I 11:45-12:05

All students will stand in circle and will crisscross their hands grabbing two different people. In this position, the entire group will have to unravel themselves back into a full circle without talking.

Part II 12:05-12:25

As a class, students will discuss the following based on the activity:

· Who acted as the leader?

· What skills did each person contribute to the exercise?

· What was the biggest obstacle during the challenge, and how as a team did you overcome it?

· What other resources would have made this challenge easier?

Break: 12:25PM-1:00PM

Activity 3: Scavenger Hunt 1:00-2:00

Students will be divided into 2 groups based on their Myer Briggs Test result types. Students with different types should be put into the same group. Several clues/riddles will be posted around BHCC which eventually will lead to the treasure/prize.

Note: Students should be advised to wear comfortable shoes for the activity.

Activity 4: Ice Cream Field Trip (location TBD) 2:00-3:25

Day 12 Lesson Plan July 21, 2010

Title: Professional Outlook

Objective: Students will be instructed on how to present themselves and their business professionally. They will also be instructed on how to give an effective presentation.

Vocabulary: TDB

Guest Speaker: Lisa Toby, Director of Career Services, Simmons School of Management

Activity 1: Reflecting on Team Building 10:00-11:00

The instructor and students will reflect on yesterday’s learning objectives.

Activity 2: Guest Speaker [tbd] – Giving Effective Presentations

Part I Presenting Yourself and Your Business 11:00-11:40

[guest speaker] will offer students essentials for presenting themselves and their businesses professionally. Ideally, she will interact with students and have them role play.

Part II Giving Effective Presentations 11:40-12:25

[guest speaker] will offer students essentials for giving effective presentations (mainly on PowerPoint presentations which students will give on their last day).

Break: 12:25PM-1:00PM

Activity 3: Preparing for the Final Presentation

Part I 1:00-1:45

Introduction to PowerPoint and outline for the presentation contents.

Part II 1:45-3:25

Students will stay in the computer lab for the remainder of the afternoon developing their PowerPoint presentation on the company they would like to start.

Note: The project should include elements of business ethics which will be discussed the following day of class.

Part III 2:45-3:25

Day 13 Lesson Plan July 22, 2010

Title: Pulling It All Together

Objective: Students will complete their final projects and create a PowerPoint presentation. They will begin practicing their presentations using the essentials offered by Lisa Toby in the previous class. Students will also receive a mini lesson on business ethics.

Vocabulary: Ethics

Activity 1: Business Ethics 10:00-11:00

The instructor will discuss with students fundamentals of business ethics.

Activity 2: Completing Project Research 11:00-12:25

Students will complete the research and PowerPoint presentation development for their project in the computer lab.

Break: 12:25PM-1:00PM

Activity 3: Building the PowerPoint Presentation 1:00-2:30

Day 14 Lesson Plan July 23, 2010

Title: Final Presentation and Wrap-Up

Objective: Students will present their presentations to the class, and time will be available for students to ask questions.

Vocabulary: TBD

Activity 1: Final Presentations 10:00-12:00

Ideally staff from BHCC will be available to watch students present. Parents should be invited as well.

Activity 2: Party Time 12:00-2:00

While eating and enjoying themselves, students will take time to discuss how the program has transformed their lives.

Activity 3: Writing Reflections 2:00-2:45

The Community Center for Entrepreneurship, Bunker Hill Community College

•  We showed the NFTE documentary ‘TEN9EIGHT’ and provided a brief information session about the Center. Hospitality faculty is planning to use this film for their assignments.

• BHCC students will be involved in the YEA event at Madison Park High School on May 7^th. They’ll be participating in team building exercises for the new student run business at the school. The precise activities are being kept under wraps, so we’ll report on these next month.

• We have four new interns from Simmons starting work at the Center. Two are already working on the high school summer program we are offering in July. One of the interns is developing a simulation for use during the program. Registrations from students are coming in. We are very excited about this opportunity to engage high schoolers in entrepreneurial activities. We’ll post the detailed schedule next month.

• BHCC has applied to form a chapter of the Collegiate Entrepreneurs’ Organization (CEO). Enthusiastic students are starting to network in order to build membership.

•  We have signed our first articulation agreement with a 4-year school for our Entrepreneurship Option, Suffolk University. Furthermore, we are discussing opportunities for event, academic and high school program partnerships. We are looking at developing a speaker/activity that would bring together their Entrepreneurship summer high school student program and ours.