Implementation

Students from each of the partner schools will be recruited to form a company. They will total between 10-15 students from a variety of different backgrounds and they will take on different roles within the company (for example managing director, finance director, marketing director). Each of these roles will also have a deputy. The company will then begin to create a business plan for a new product or service; this is likely to be associated with the vocational specialism of the partner school. The students will have regular meetings in their home countries as they develop their ideas. There will be seven transnational meetings. Each of these meetings will be designed to support a specific aspect of the business plan; the host students and teachers will prepare presentations and workshops (for example the Spanish partner will focus on sources of finance and management of working capital). The project activities will be organized in the following way:
The first meeting will be hosted by our French partner. The objective will be to gain knowledge of existing businesses and their aims and objectives. The students will visit local businesses, find out how they where originally created and how they are currently organized. During the activity the students will make presentations how businesses are set up in each member country; this will allow the students see the differences and similarities that exist in each country.
The second meeting will take place in Sardinia, Italy. The focus here will be on new product development and market analysis. At this stage the students (as part of their companies) will have started to explore product ideas and looked at potential gaps in the market they can exploit. The students will be introduced to the concept of market segmentation. The meeting will also involve workshops on new product development and market analysis. The students will visit existing business in the local area to experience examples of businesses which have developed products/services to meet the needs of a particular customer type. They will discover how these businesses recognized their target market and why the products or services meet the needs of the customer.
The third meeting will help the students to understand the importance of financial management. This will take place in Spain. The students will learn about sources of finance for small businesses and entrepreneurs and how this may vary in different countries. Financial experts specializing in small businesses from the local area will be used to run workshops for the students. An important part of this activity will concern working capital and how business can manage their cash flow. It is vital for students to understand the importance of managing cash flow if a business id going to be successful and sustainable.
The forth meeting will take place in Portugal. Here the focus will be on production processes. There will be a workshop on production and visits to local small businesses in the agricultural sector to observe and learn about the processes that have been adopted by existing companies. Students will learn about the different methods of production that companies use and how they try to maximise effectiveness and efficiency.
he fifth meeting will take place in Croatia and will focus on promotion and marketing. The students will take part in workshops and explore the different methods that can be used. Visits will be made to existing business that have used successful promotional and marketing techniques. Given the rapid changes in technology students will consider methods that can be used to maximize its potential.
The sixth meeting will take part in the UK and be focused on the importance of ‘getting the price right’. The students will explore the different pricing strategies and methods used by existing businesses and consider what would be the best approach for their product(s) or service(s). Visits to existing businesses, with different pricing strategies, will be an integral part of the meeting.
At the final meeting the students will present their final business plan. This will be a culmination of the work they have done in their home country and the skills and knowledge they have gained from the previous meetings. This activity will take place in Romania in the form of a business conference and trade fair. Local business people will be invited to see the plan being presented and give feedback to the students. Each of the companies will give a verbal presentation and create a visual display of the company and product/service. The conference will be attended by a wide range of people including the business and local community, school and family members. Oredea has a cinema complex seating 100 people which is also used as a conference facility. Throughout the lifetime of the project the students will also be collaborating to produce a guide book and ‘app’ entitled ‘A young person’s guide to becoming an entrepreneur’.

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