Taking care of businessby jmaloni
At Niagara-Wheatfield High School, Kevin Schucker's marketing classes each created their own businesses during the school year through the Junior Achievement program, which teaches students about owning and operating a real business.
The students learned that teamwork, communication, organization and dedication were crucial in order to for their business to succeed. They were focused on creating a high-demand, quality product and offering it at a reasonable price.
The businesses mirrored real businesses as students performed tasks such as selling shares of stock for $2 each, electing officers to run certain aspects of their businesses, designing, producing and selling their product, paying commissions to the students, and liquidating their businesses. As with any business, they encountered several problems and faced some difficult decisions that ultimately provided practical knowledge of the business world and economic system.
Their business, Shake N' Bake, was successful. The students sold more than 170 Under Armour T-shirts and had gross sales totaling more than $4,400. Their net profit of more than $1,800 was divided among stakeholders. Stockholders received a $2 return on investment, a $300 donation was made to the Make A Wish Foundation, and commissions totaling more than $600 were paid.