Introduction
What is the name of our organization and project?
Enactus and Ennovate!
What is the theme for this year's final competition that the classes need to base their businesses on?
The UN SDGS!
(bonus points +100 if the team can name which specific SDGs it's based on)
- Sustainable Cities and Communities
- Responsible Consumption and Production
- Climate Action
- Life Below Water
- Life on Land
List two out of the four categories of customer segmentation
- Demographic
- Geographic
- Psychographic
- Behaviourial
What is the fundamental equation of accounting
(ie. Equation to calculate profit)
What are the names of your project associates?
Tyler and Ben!
What was the icebreaker that we did during our first workshop?
Put students in order based on their birthdays
Why do you think it's important for companies to not only focus on profits but also consider other elements such as the environment, social issues, and external stakeholders?
Open Ended
What is branding?
Branding is the process of creating a unique image in the mind of customers to help differentiate your company from competitors
What are the two types of expenses?
COGS and SG&A
When is final competition?
January 27th!
What is positioning?
Positioning is how a business markets its product to customers to better position itself in the industry.
Which UN SDGs does Eco Noms follow?
Any of these below
Theme Based
- Sustainable Cities and Communities
- Responsible Consumption and Production
- Climate Action
What is a SWOT Analysis
Bonus (+100) Why is it used?
SWOT (Strengths, weaknesses, opportunities and threats)
To identify and understand the company's Strengths, weaknesses, opportunities and threats and see how they could gain a better position with their competition)
What is a break-even analysis?
A break-even analysis is used to determine how many units your product or service will need to sell to be profitable
Name one of the three candies that I have given out during the 5 workshops
- Hi-Chews
- White Rabbit Candy
- Kopiko Coffee Candy
Identify the target customer for Eco Noms
- Who is facing the problem
- What does the customer want/need?
- Will the solution be accepted by the customer
Various Answers
- Point will be given if reasonable
What is corporate social responsibility?
Corporate social responsibility is a self-regulating business model that helps a company be socially accountable to itself, stakeholders, and the public.
Using this template, create a value proposition for Eco Noms
For (target market) who (need/opportunity) our (product/service) is (category) that (benefit)
Many variation (One example)
For high school students who want to find more sustainable and convenient food options our product is healthy jars of food that repurposes unwanted produce and sells them at school.
What is the formula for contribution margin?
(Bonus +100) Is it better to have a high or low contribution margin?
CM = Unit Sales Revenue - Unit Variable Costs
Would be better to have a higher CM as it means we have more revenues that can cover our Fixed Costs and hence leave us with higher profits
TEAM SHOWDOWN
How many slides have we presented to you across the past five workshops
Each team picks a number and the closest gets the points
111 Slides in total across all 5 workshops!
List three ways that Starbucks differs from its competition.
(Various Answers)
Some include
- Location and accessibility
- Atmosphere and convenience.
- Ethics and Sustainability
- Brand positioning, redefining coffee shops from just a place to get coffee to a destination where you can go for free wifi, comfy chairs, or meet others.
- Brand Reputation - More luxury experience -Status
- Unique product offerings - specialty coffees and drinks
What is the importance of CSR? (List one of the benefits.)
(Exact wording not required)
- CSR helps both society and the brand image of companies
- Customers are more likely to do business with brands that they perceive to be more ethical
- Corporate responsibility programs are a great way to raise morale in the workplace
- Help forge a stronger bond between employees and corporations, boost morale, and aid both employees and employers in feeling more connected to the world around them
What is the point of difference and point of parity of Eco Noms?
Answers may vary
Point of difference - Locally owned, convenience as products are sold at school, more sustainable
Point of Parity - Both selling packaged food in jars, both maintaining ethical and sustainable practices?
Solve this problem
Sammie has a chocolate business. She sells each chocolate for $15. To make each chocolate, she spent $5 on ingredients, total advertising costs was $60, and $100 for utilities. Packaging costs for every unit is $1. She also spent $17 on equipment and $12 on a scooter. In February, she sold 41 chocolates.
What is Sammie’s profit for February, and what are her contribution margin and break-even points?
Revenue: $615 COGS: $6*41 = $246 SG&A: $189
Net Income/Profit: $615 - $246 - $189 = $180
CM: $15 - $5 - $1 = $9
B/E Point: ($60 + $100 + $17 + $12) / $9 = 21 units
Name five components required for a business proposal
(There are more than five, but you only need to list five)
Potential Answers
- Need/Research behind the existence of the product
- Competitor Analysis
- Mission Statements
- Business Values
- Business Description
- Executive Statement
- Objectives (SMART goals - Specific, Measurable, Achievable, Realistic, Time-Bound)
- Production Process
- Value Proposition
- Target Marketing
- Customer Segments
- Marketing Strategy
- Revenue
- Costs
- Total Profit
- Break-Even Analysis
- Contribution Margin
- Risk and Mitigations
- Future Goals
- Point of Difference