Second grade Target students focused on business skills this week as we look ahead to an end-of-year activity called M.Y.O.B. Day (or Mind Your Own Business Day). We began the day - as we usually do - with a brainteaser. This week we tried a new kind of logical thinking/math skill puzzle called Tanglers. Students work together in small groups to solve a problem so that it promotes cooperative learning. Since we are studying money and business skills with 2nd grade, I chose a set of clues where students had to determine the amount of money spent at a restaurant - based on a set of clues given. The tricky part about Tanglers, though, is that students must sort important clues from irrelevant ones in order to solve the problem correctly. It was a tough puzzle, but the 2nd graders worked together nicely and (with just a few little nudges from me) were able to reach the solution. I think they enjoyed this new kind of brainteaser, and I was very proud of their efforts.
Several students shared their GBR projects this week, and I think we all enjoyed hearing what these students had learned from their research. We learned about the steps of entrepreneurship, the current exchange rates of money in countries around the world, and more! Remember that all GBR projects must be brought in and shared by Friday, May 8th. Look back in the March archives of this blog if you need to reread instructions and ideas about Target's GBR assignment. I can't wait to see everyone's extra efforts.
Our quote this week helped us to review the meaning of entrepreneurs. It is by Victor Kiam and it says this: "Entrepreneurs are simply those who understand that there is little difference between obstacle and opportunity." We reviewed some of the entrepreneurs we had studied earlier (Milton Hershey, Truett Cathy, Frank Gordy, Henry Ford, etc...) and the obstacles that they turned into business opportunities. Next, we watched a short video clip about the founders of Ben and Jerry's Ice Cream. And, yes, their real names are Ben and Jerry! They told about how they started their business with very little money and, by using clever marketing strategies and innovative flavor combinations, grew into a very successful company. The best part of their story, though, was hearing how they give back to the community by donating portions of their profits to charities and causes they believe in. Students noticed that nearly every entrepreneur we had studied had focused on improving the lives of others by offering donations, education and scholarships, and other opportunities to those in need. What a great character lesson our study of entrepreneurship turned out to be!
Next, I handed out an instruction packet for MYOB Day - Mind Your Own Business Day. This event will be held on Friday, May 15th, here in our classroom. Basically, students are to think of a product which they can make and "sell" (with pretend money in their Target Town Bank account) to their classmates. This packet has step by step instructions which we went through together in class. We brainstormed a long list of ideas for products. I encouraged students to think of products which are inexpensive and easy to make and we came up with three major categories: food items, simple toys or games, and school supplies. We also decided that every student should make 12 of their product so that they could keep one and "sell" the others to their classmates. I suggested looking for dollar store items that they could make unique by adding special touches and personalization. They could buy something like dice or playing cards, etc.. and create their own game around it. Students could even draw their own game boards on squares of poster board if they liked. They could use the computer to print sets of game cards, too. The possibilities are endless. I just want the students to think like an entrepreneur and create a product that would be appealing and marketable to their classmates. In the next Target session we will talk a little about marketing and advertising so that students will learn what makes a product attractive to consumers. There is also a space in the MYOB packet where you can help students calculate the cost of making their product and how to set the price, based on a 10% profit. So you may want to hold onto receipts as you purchase materials so that you can help students with this part at home. Just remember three words: Keep It Simple. With our emphasis on budgets and wise spending choices this semester, I really want students to not go overboard with products that are expensive to produce. Many of the students seem to already have an idea in mind. Talk with them at home about it, and contact me if you have further questions. They are very excited about MYOB Day coming up on May 15! It should be a fun day of learning as we tranform our classroom into a marketplace.
Finally, we did our Target Town Banking and ended up with $266 in our pretend bank account! We also finished reading the chapter on "Making Doughnuts" from the book Homer Price by Robert McCloskey. If you aren't familiar with this classic children's book, Homer takes over his uncle's diner and uses the doughnut making machine with such enthusiasm that he creates WAY too many doughnuts to sell. So Homer uses his clever business sense and some creative problem solving skills to find a way to sell the doughnuts so that everyone is happy. It was a hilarious story and a great way to end our day together. Ask your child to tell you how the chapter ended.
Please know that this Friday, April 24th, I will be administering the CRCT to 4th and 5th graders in the morning. So our time together for Target will be interrupted. I am hoping that I will be able to meet with my 2nd grade Target students for a short time in the afternoon - unless I am needed to do make-up tests in the afternoon. We will just have to be flexible and know that I will pull my Target students from their regular class if my schedule allows. I also know that 2nd grade has a field trip scheduled for Friday, May 1st. So our time together is dwindling quickly. That is why I have been careful to give you and the students these GBR and MYOB deadlines and expectations in advance so that much of this could be done at home. I had a feeling that my teaching time would get interrupted at this time of year, so I have tried to plan ahead. Students have everything they need by now to work independently - with just a little parent supervision from you. At least we will have the day on May 8th to share all the final GBRs and discuss plans for MYOB day on May 15th. It should all work out just fine, but let me know if you have further questions. Thanks for your patience and flexibility at this hectic time of year.