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Begin class with a discussion about a new product that you have recently seen. Explain where you think the idea came from, what problem it attempts to solve, etc. If you have thought about an idea but never acted on it and then saw “your” idea in a store share that with your students too. Ask students to share similar observations and experiences.

Explain that Entrepreneurs are just like us—they see possibilities in little things every day, but unlike most of us, they act on their ideas. Tell them that today the class is going to practice thinking and acting like an entrepreneur.

Put students in small work groups. Tell them that they are each in an entrepreneurial “think tank”. Explain:

a.  Their task is to identify and produce a product or service that will enhance the quality of life in the classroom or school. Each group will manufacture a prototype and will be entering their idea and prototype in the “Entrepreneur of the Year” competition where the best product/service will be determined.

b.  Introduce the concept of Productive Resources. (Natural, Capital, Human and Entrepreneurial)

c.  Give each group a prepared bag. Explain to your students that this bag represents “natural resources” (one of the four productive resources). Each group has resources unique and similar. This is similar to regions, states and nations. For instance, PA has the Marcellus Shale. Florida has the ocean.

d.  Explain that the classroom materials (scissors, tape, etc.) represent capital resources—tools of the trade. Schools have capital resources: desks, books, busses.

e.  They will provide the labor when they produce their product but their ideas during the discovery, concept development and resourcing part of the project is the job of the entrepreneur. The entrepreneur provides the thinking behind the product—the innovation. They also organize the other productive resources.

Equipment #1

Equipment #2

Have students begin brainstorming in their groups. (Discovery)

Once an idea has been decided on, students can barter with other groups for natural resources if they feel that will help them build a better product. A trade will happen only if both groups agree that it’s a good trade. (Concept Development and Resourcing) Note: Teacher can expand this lesson to include global trade.

Have the groups begin manufacturing. (Actualization)

Once products are produced the work groups develop a “sales presentation” to pitch their idea to another class. This can be done with “billboards” or “TV” adds, etc. (Another group of students, usually the same teachers students in another section, will do the judging).