This article is a case study of how new opportunities open up for entrepreneurs.
Appropriate Subject Area(s):
Entrepreneurship, business management, opportunity identification, marketing
Key Questions to Explore:
- How can the media influence success of a product or service?
Introduction to lesson and task:
The lesson examines the problems in producing and marketing a product with seasonal limitations on its popularity.
Action (lesson plan and task):
- Distribute the article for reading.
- In pairs, have students identify the entrepreneurial characteristics Geoff Tait has. Have them discuss what in the article identifies those traits.
- Mr. Tait has made some decisions about how to grow his business. Have each pair chronicle this decision-making process and the end result.
- Currently Mr. Tait takes pride in offering personal customer service to his accounts. How will he be able to continue to offer this as he grows? What needs to be done?
Consolidation of Learning:
- In the same pairs, have students create a chart. On the left column, they are to identify the risks Mr. Tait has to mitigate; in the right column recommendations on how to mitigate these risks. Combine pairs and have students discuss their ideas and come up with a key recommendation for each risk identified.
- Students understand that the media can influence the notoriety of a product or service, but that the entrepreneur needs to guide the growth in a way that is sustainable.
- Have students identify other products or services written about in the media or endorsed by a celebrity. Examine the impact on the success of the product or service.