What's Going on in the IB PYP - Part 3
Learning About Business in the Real World
“If you want to get your nails painted, then go to the Grade 5 classroom or go to the cafeteria on Tuesday, Wednesday, and Friday lunch time and WE will be waiting for YOU!”
Where: At the Library
When: On Tuesday, Wednesday, and Friday
What: Selling Delicious, Incredible Food!!!!!
Come and Have a Look!!!”
Recently, Grade 5 students commenced their very own businesses in the corridors of BCIS for a week throughout lunch time. The hustle and bustle they immersed themselves in was part of their “How We Organize Ourselves” Unit of Inquiry, with the summative assessment being to complete a business plan, balance sheet, and conduct a business in school. The children had to focus on market research, advertising, buying of resources, and location so that they could successfully make a profit. Just as the previous year proved, things got pretty hectic and crazy quickly!
Some of the students decided to set up shops that sold stationery, food, drinks, toys, movies, and even jewelry. Some arts and crafts, as well as video games were hawked to the masses. Most of the products cost between 5 and 20 RMB. At the end of the last business day, the students gathered and counted the giant pile of money they proudly made. Overall, they raised over 12,000 RMB in total for their endeavors. Following the path of the IB Learner Profile, they will choose a charity to donate the money to in the near future.
Here are some reflections students wrote after experiencing the successes of their first businesses.
“Today our group did very good. We sold out every product we had and earned about 200 RMB. But some of the negatives were that when people came, they thought our prices are too high. So we had to lower them a little. What I found interesting is that the more you put out on your table, the more people will come.”
“Positives: We sold lots of cakes with people saying they’re really yummy! Some people bought one, but wanted another one. So they came back and got another!”
“Negatives: Some people just don’t care and tried to squish in. They did not follow instructions.”
“Interesting: Some interesting things were people coming to buy our things, and it wasn’t as noisy as I thought it would be.”
“Positive: I think our products were very positive because we bought a lot of products and they were different kinds, so the variety of products grabbed the customers’ attention.”
“Negative: Our teamwork needs to be better. One of my partners had trouble with us. We had different ideas of doing advertising. But we finally got an idea that we both agreed on.”
“Interesting: We improved our teamwork. And so we work better together.”