What another busy week we’ve had in Primary 7.  Christmas is just around the corner and, next week, is our Christmas Fayre.

We’ve been extremely busy in Maths.  In preparation for our Christmas Fayre, we’ve been investigating what makes a good entrepreneur.  How are Lord Sugar and Richard Branson so successful?  Here’s what we found out.  You need to:

• listen to others, discuss ideas and respect opinions;
• negotiate with others in order to get the best deal for your group;
• work effectively as a team;
• take risks;
• plan effectively so that you have a product or a service that people will use at a reasonable cost;
• make a profit;

Using these findings, we soon realised our skills of Teamwork, Communication, Leadership, Creativity, Decision Making and Risk Taking and Problem Solving are important tools in this process, so we created jobs for each of us in our team.  There’s Production, Marketing, Sales, Organisational and Financial roles.  We also decided that each person in the team will co-ordinate in their chosen role so we don’t duplicate any of the work.

Our Marketing people have been extremely busy as they have been developing questionnaires which have been sent to all of the classes. The questionnaires had to be SMART (Specific, Measurable, Accurate, Reliable and completed within a Time limit).  Once we our feedback, this will allow us to determine our pricing, prizes and the level of difficulty.

All of the team have also been busy developing a Business Plan.  A Business Plan is important as it lets us see where we are at, what we want to achieve and how we are going to get there – the process!  It also covers areas such as Ideas, Marketing, Finances, Pricing and Profit.  These plans need to be correct and approved by Mr Hunter (aka ‘Lord Sugar’).

We are all enjoying the process – we want lots of people to come along on the day and enjoy our stalls.  We also have to repay the loan of £125.00 which we got from Virgin Bank (plus interest), but that’s for another blog!

Primary 7