Franchises and Cooperatives Lesson

8/12/2019 Franchises and Cooperatives Lesson

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Introduction to Economics Franchises & Cooperatives

Goals & Objectives

Students will understand how a business franchise works Students will identify the different types of cooperative organizations Students will understand the purpose of non-profit organizations, including

professional and business organizations

California State Content Standards

12.2.3 Explain the roles of property rights, competition, and profit in a market economy.

Common Core Literacy Standards

CCSS.ELA-Literacy.WHST.11-12.10 Write routinely over extended time frames (time forreflection and revision) and shorter time frames (a single sitting or a day or two) for arange of discipline-specific tasks, purposes, and audiences.CCSS.ELA-Literacy.RH.11-12.7 Integrate and evaluate multiple sources of informationpresented in diverse formats and media (e.g., visually, quantitatively, as well as in words)in order to address a question or solve a problem.

Lesson Introduction (Anticipatory Set/Hook/Accessing Prior Knowledge) Time: 5 10min.

Ill introduce the forms that the students must fill out weekly individually and within theirgroups regarding their stock portfolios and individual stocks. Ill explain how t o fill out theforms and what theyre expected to turn in weekly for credit toward their final grade ontheir stock project.

Vocabulary (Content Language Development) Time: 5 10 min.

The vocabulary terms will be written into PowerPoint slides which will be projected on thescreen so all students can see them. I will also verbally explain their definitions and usesome examples to help students more clearly understand the concepts. The students will

write the vocabulary terms and formal/simplified definitions and examples in their notes.Terms include: business franchise, royalty, cooperative, consumer cooperative,service cooperative, producer cooperative, nonprofit organization, professionalorganization, business association, and trade association.

Content Delivery (Method of Instruction) Time: 15 20 min.

I will give a brief PowerPoint lecture on the topic of other types of business organizations,namely franchises and cooperatives. I will go over what franchises and cooperatives arealong with some advantages and disadvantages, and I will give real world examples and
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show images so the students can better connect with the content. I will also briefly touchupon various types of non-profit organizations.I will go over vocabulary as it arises within the lecture and will elaborate on all vocabulary

and concepts with several real world examples in order to connect it with the studentslives. I will also ask comprehension questions throughout the lecture in order to monitorstudent progress.Once the lecture is completed, I will have the students complete an activity for their unitpackets which will require them to come up with their own business franchise and createtheir own franchise purchase/license agreement.

Student Engagement (Critical Thinking & Student Activities) Time: 15 20 min.

The students will take notes during the lecture, making sure to record examples andvocabulary. In addition, they will respond to any comprehension questions given during

the lecture.For the activity, the students will need to think up their own company that theyd want tolet other entrepreneurs franchise from them. Theyll need to write out the terms of thefranchise purchase/license agreement, which should include:a. The Franchise Package, consisting of an equipment and inventory list to be

provided to the franchisee. b. The Price, the specifics of price and method of payment related to stages ofdelivery of equipment etc.c. The Services, a list of the franchisor's responsibilities to the franchisee, both beforethe business opens and services provided periodically thereafter.

d. The rights granted to the franchisee, such as use of the company logo, etc.e. The obligations of the franchisee, such as following the protocol for making the product, etc.

Lesson Closure Time: 5 min.

I will ask the students if they have any questions they need to ask/review on their studyguides (their test is on Wednesday).

Assessments (Formative & Summative)

Student responses during discussion/question portions will serve as an informalformative/progress monitoring assessment. I will also be roaming around the room toinformally assess student responses to their activity; this will also serve as a progressmonitoring assessment.

Accommodations for English Learners, Striving Readers and Students with Special Needs

These students will be provided with a printed copy of the lecture notes and a graphicorganizer of the vocabulary.


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Resources (Books, Websites, Handouts, Materials)

Ch. 8 Sect. 4 of Prentice Hall Economics: Principles in Action, PowerPoint

Documents

Franchises and Cooperatives Lesson