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INTRODUCTION
BizWorld programme enacts a business simulation in which groups of kids initiate and run their own businesses of designing, manufacturing, selling, and financing their own
own business ideas. BizWorld teaches business concepts while engaging kids in activities that reinforce the use of maths, science, art and language skills. Each group represents a company and with the aim of making a profit, the programme encourages teamwork among the kids and enables them to experience group dynamics. At the end of four two-hour sessions, the kids will understand the fundamentals of business such as:
• debt & equity capital structures
• company ownership
• stock market
• importance of design & marketing
• basic salesmanship
• supply and demand
• business terminology
Most importantly, it's all about learning through loads of fun!
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HISTORY OF BIZWORLD PROGRAMME
BizWorld was designed and created by U.S. Silicon Valley venture capitalist Tim Draper, founder and managing director of global venture-capital firm, Draper Fisher Jurvetson ePlanet Ventures (http://www.dfjeplanet.com). Tim developed the BizWorld concept in 1992 to teach business and entrepreneurship to his daughter's third grade class. With its huge success, Tim than founded “The BizWorld Foundation” (http://www.bizworld.org). To date in US, about 65,000 students have gone through this programme.
HISTORY OF BIZWORLD ASIA LTD
The BizWorld programme was introduced into Singapore by BizWorld Asia Ltd (http://www.bizworldasia.org), a non-profit organization founded by investment banker Dr Finian Tan and venture capitalists Peter Tan and Jixun Foo. With support from EDB and key sponsorship from Draper Fisher Jurvetson ePlanet Partners, BizWorld Asia Ltd started the programme in March 2002. To date, BizWorld has reached more than 10,000 students in Singapore from 65 different schools.
EVANDER REPRESENTS BIZWORLD ASIA
Evander Language School represents BizWorld
Asia Ltd in administering the BizWorld programme. In this partnership, Evander handles the marketing, training, and all
administrative work related to the
programme.
SO WHAT IS BIZWORLD PROGRAMME?
BizWorld's four two-hour sessions are divided into separate modules that are taught on different days.
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Here What the students have to say:
“ It was an eye opener as we learned about risk-taking and profit , ”
“ It has sparked an interest in me to start my own business! ”
Royston Toh, 13 year old student from Anglo Chinese School (Independent) 
BizWorld Kit
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DAY ONE: DESIGN DAY (2 hours)
Students are divided into teams, or companies, with six employees each: President, Vice President of Sales, Vice President of Marketing, Vice President of Manufacturing, Vice President of Design and Vice President of Finance. Students are introduced to many aspects of business:
- what a business is the different jobs within a business
- how to incorporate a business
- how to obtain funding to start a business
- what the stock market is and how it works
- how to design a cost effective product while maintaining quality
Each team makes critical decisions such as how much money to raise and which product prototype to manufacture. At the end of each day, students fill out worksheets that summarize their financial activities during the day.
DAY TWO: MANUFACTURING DAY (2 hours)
Students borrow money from the bank, manufacture their products and price them. They learn about:
- different types of manufacturing processes
- what a banker does
- scarcity of resources
- how to price products
Teams focus on using time and materials effectively as well as the importance of setting prices above costs.
DAY THREE: MARKET DAY (2 hours)
Teams participate in a second round of venture capital funding, learn about marketing and sales of their products in exchange for BizBucks. They need to:
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develop a pitch to convince venture capitalist to invest in their company
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plan and implement an advertising campaign (create a marketing slogan, design a poster with a logo and create commercial);
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set up a store front that provides an enticing selling environment;
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sell their products to another group of students at the sales bazaar.
The sales bazaar is an action-packed event with students drawing on their most persuasive talents to sell
their products.
DAY FOUR: FINANCE DAY(2 hours)
Students create an income statement and balance sheet
for their company from the records theyhave kept throughout the simulation. They also:
- learn financial concepts
- review financial terms
- determine which company has highest sales
- determine which company has the highest team value
- invent own product - Business Plan Activity
At the end of the simulation, students reflect on what went well, what they would do differently if they participated in BizWorld again and how school subjects relate to starting and running a business.
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Hear what some teachers have said:
BizWorld fits into the school's culture of ‘to achieve a culture of innovation'. It has clear structural framework, hands-on approach & interdependency involved in problem solving”
Teacher, Temasek Secondary
“BizWorld is extremely effective in teaching students about business”
Teacher, ACS Independent
“Well thought-out. Very comprehensive” Teacher, Holy Innocents' High
“ Involves an integrative approach, e.g. Math, English, Art & Craft, speaking and listening skills”
Teacher, Canossa Convent Pri
“ Teaches about business concepts effectively and allows them to be innovative and creative”
Teacher, Anderson Sec |
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Some of the ideas / concepts / products which the school can adopt are:-
- Manufacturing based Product: friendship band, watches, airplane modeling, hand phone, coasters, toiletry set, school towels.
- Software & Media Design related Product: calendar, posters, festival cards.
(Student must already be trained in the software. School must provide the software, PCs and Printers)
- Service related Product: Event Management.
- Evander Flagship Product: Electronic toy
(Soldering required. Additional material cost required)
For customerisation for school’s Integrated Project Work (IPW), please contact us directly. |
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Manufacturing Day
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