School company

School Company (SC) is a laboratory of economic and entrepreneurial activity expressing practical meaning of many theoretical principles. Pupils work together to apply these principles in solving real business problems. Teachers can help them to realize that the problems they face in the School Company are similar to the real business issues.

During the SC activity, pupils will research the market, will get an initial capital by selling shares, will manufacture and sell a product and will complete journal entries of the School Company. Also, through personal experience, students will perceive the importance of economic concepts such as: supply, demand, fixed and variable costs, the cumulative profit and productivity. Teachers, who use the School Company program, say that its activity is an important part of the course and that in addition to providing the possibility of applying economic and business principles, the SC helps to develop the pupils’ responsibility and leadership skills. Pupils will have certain responsibilities or extra-curricular tasks (sales, market research, bank activities). In addition, between the main company’s meetings, there might be needed a few minutes to discuss several administrative issues.

Mini School Company

The program presents practical work that contributes to the accumulation of knowledge for the operation of small enterprises: creation, administration and its liquidation. Students will be involved in the business and production fields, they will show their initiative and responsibility. It is a program that presents thematic entrepreneurship in different manners that managed to support different learning styles, managed to help to develop entrepreneurial students and to increase their understanding of the relationship between what they learn in school and successful participation in the global economy, through a variety of practical activities and tools.

 

Phases of a SC:

First Step - Launch

• Formulate vision and mission of the SC

• Setting goals

• Evaluation of the ideas for products and services

• The distribution of functions within the SC

• Choosing the name

• The selection of the organization of SC

• Adoption of the status of SC

Second Step - Business Plan

• Description of the business idea

• Develop a plan to study the market

• Planning the production process

• Develop marketing plan

• Develop financial plan

• Approval of the business plan

Third Step - Administration

• Attracting the needed capital

• Procurement of raw materials and resources needed

• Conduct production

• Organizing meetings of the SC members

• Implementation of marketing strategies

• Sales of products

• Completing the journal entries for accounting, sales and payment

Fourth Step - Liquidation

• Completion of the SC activity

• Complete the production and sales

• Check registers of the SC

• Computation and distribution of the profit

• Filling the liquidation paper of SC