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1 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
AHLCON INTERNATIONAL SCHOOL, INDIA
MID-YEAR REVIEW A report on our business so far this year
Written by – Akshita Arora, Samyak Garg, Sabrika, Anika Sharma,
Prachi Saini
Neelam Gupta
Created as part of the School Enterprise Challenge Awards Programme –
Gold Level
Section A: Executive Summary
Business Name Candles and Cakes - The Ahlcon Retail
Business Activity (main product/service)
Selling of customized T-shirts, jackets and hoodies to our
customers which will be designed by our school students
in addition to the existing Products.
Our school business social media (Facebook page,
blog, Twitter account etc.)
https://ahlconinternational-cnc.blogspot.com/
http://cncais.weebly.com/contact-us.html
Number of students
involved in business
implementation activities
(including writing this Mid-
Year Review)
Boys 50 Girls 60 Total 110
Number of teachers
involved Male 6 Female 9 Total `15
Financial Summary
Our Local Currency: INR US Dollars $
Total Income (so far this year) 127960 1792.66
Total Expenses (so far this year) 5830 81.68
Profit/Loss (so far this year) 122130 1710.98
Section B: Running Our Business
1. Here is a summary of how we have run our business so far this year: This is where and when we carried out most of our business operations (production, sales): As our business has been diversifying and widening rapidly, we keep our business running
even on weekends and school holidays and hence all the business - related operations are carried off around the year. Our school enterprise is not only present on the school campus
2 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
but also around the local areas near it, i.e., the residential areas and the markets to attract attention of several people. We also have a strong impact on people through our social media platforms and orders can be placed easily through them.
a) And this is a record of how we linked the business into our lessons:
Subject Class /year group What we did How often
Business studies
G 1 We enhanced our knowledge about the basic features and principles of management by the experience that we gained out of the school enterprise we manage.
E Each time while carrying out any of the business operations.
Accountancy Group 2 Our capabilities came to play while preparing cash book, invoices, ledger accounts, financial statements and calculating profits.
At the end of every month.
Art G 3 We also got to know about the various beautiful baskets which in turn substantially increased our creativity.
Acc According to the requirement of the products.
Economics 4 While surveying about the demand of customers, we examined about the elasticity in demand of customers.
During the time when surveys were conducted, i.e., once in every 3 months
2. This is how we are rotating rolls around the business (how long team members stay in one role before rotating and how many students have moved roles so far):
After every 2 months, the roles of all the team members are rotated. This function is carried out
smoothly as all the members are aware about the responsibilities and the challenges faced by each department and this was also one of the topics which were broadly discussed in the Business Management Committee.
And a reflection on what has worked well about this system and what we plan to adapt (if anything) for the rest of the year:
What has worked well What could have gone better Action Plan
The rotations are being done very efficiently and smoothly. All the team members are now experienced to handle all the departments.
The students generally take time to adapt to different departments like sales or production and this disrupts the business operations.
A session has been planned to take place where the students excelling in each department would discuss the various responsibilities and challenges to ensure every student is confident enough to take on their respective roles.
3. Here is an update on how we have been mentoring new students who will join the business
3 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
team next year: As different and new adaptations have been made in the school business, more students are appointed to handle responsibilities and do work appropriately and efficiently. We organized various sessions and workshops from trained teachers, industrialists and businessmen to enhance the knowledge of new students. Also, Commerce Fest was also organized to provide the students with exposure. The older students who have been already working for the enterprise trained new ones, collected and discussed their new innovative ideas and fresh thoughts about the business.
And a reflection on what has worked well about this system and what we plan to adapt (if anything) for
the rest of the year:
What has worked well What could have gone better Action Plan
After attending the workshops and training sessions, the new students showed their deep and intense interest in the school business. They also came up with different perspectives, thoughts and innovative ideas that can be implemented to the school enterprise from the coming up year.
Training all the students who take interest is difficult and hence everyone cannot be a part of business enterprise.
We plan to expand the number of students participating by increasing the number of hours devoted to the training sessions and workshops that are being conducted.
Section C: Business Management
4. a) This is a record of the meetings our Business Management Committee have held so far this year (and we will include a copy of the minutes of one of these meetings in the Appendix section at the end of this document)
Date Number of attendees
Main topic(s) discussed
Decisions made Actions taken Signed off by
Principal? (Yes/No)
6th JULY, 2018
15 Rotation of Roles.
Conduction of a session by students who excel in each department to give the students a better view of the challenges and responsibilities of each department.
The session was conducted successfully by the students in the school premises.
yes.
25th AUG, 2018
17 Places to cover to carry out business operations.
To expand the area for all the activities of the enterprise, local areas around the
The business enterprise has been expanding constantly due to widening of regions and several places have
Yes.
4 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
school are to be covered.
been covered like the residential area and the markets.
28th SEP, 2018
18 Greater participation of students.
Create interest of more and more students by campaigning.
The time devoted to the training sessions and workshops for new students and for campaigning has been increased.
Yes.
26th OCT, 2018
22 Balance of scholastic and co-scholastic efforts.
Combining book knowledge with the practical knowledge.
Enhancement of knowledge in various fields.
Yes.
5 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Section D: Achievements, Challenges and Solutions
5. This is what our biggest achievement has been so far this year and why: Connecting to the school nearby in our locality for especially abled students has been one of the
major achievements this year. We delivered the presentations and gave them orders for the
products to sell for enterprise. It was a unique experience for all the team members to connect
with the school and to include their new and innovative ideas for the production unit of the
school enterprise.
6. The first table below summarizes the 3 biggest challenges we have faced when implementing
our Strategic Plan (e.g. in terms of Operations/Human Resources/Marketing/Sales/Accounting)
and the second table below shows our Action Plan to overcome each challenge.
Our 3 Biggest Challenges
Challenge
number
Business area Challenge
What the challenge is; What impact it is having on our school business; What is
causing the challenge (if we already know)
1 Time
management
Working on school holidays and weekends is one of the challenges we faced
and to balance it with the academics became difficult initially.
2 Sales Having a fixed place and constant number of customers did not help much in
gaining the sales.
3 Production To match up with the demand of the customers, the production of the
materials sold should be more qualitative and also increase the number of
units produced.
Our Action Plan
Challenge number
Action(s) planned to overcome the challenge
Team members / sub-team(s) responsible
Resources needed
Timeline (including
when and how we will review progress)
1 To have a specialized group of students to work on weekends.
1 sub team. Human resources which means more students.
After every month.
2 To widen our area of business operations.
10 members.
Local areas which people generally frequent.
Every 2 months.
3 To provide customers with better quality goods.
15 members.
Capital for production.
Every month.
6 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Section E: Networking & Learning Opportunities
7. Here is an update on how we have been networking with other schools who are planning/running a school business: a) Who we connected with, in what ways and how often
One of the schools we contacted is Ahlcon Public School, Mayur Vihar, Delhi. The school
is in the same vicinity as our institution, hence we can meet offline every month to discuss
targets and objectives. We gave them unique presentations to get them on board. We went to
their school with a presentation of our business. They were quite impressed and motivated to
join the challenge and start their own business. Further, students from both the schools are
active on social media, which will ensure smooth flow of information from both the sides.
For daily discussion and deliberation, a group consisting of head teachers and student
representatives from both the schools was formed on WhatsApp. We also plan to contact
other nearby schools with our Presentations.
b) What we learned from the other school(s) When we contacted the nearby schools in the locality to join hands with the School
Enterprise Challenge, they came up with many ideas for their school business. They started
with the business of making pickles, Jams and jellies. We learned from them how to use
various resources as they got these things made from the wives of the support staff and some
parents also volunteered and introduced new recipes for the same.
We also learned how to give presentations and how to convince other students of different
schools, to see the benefits of joining the challenge.
c) How we have used these learnings to improve our school business
This initiative has not only benefitted our school enterprise but have spread its benefits
beyond the school. We organized various workshops, giving knowledge about different and
important aspects of a business. We also made our school magazine cover our achievements
and immense dedication. The experience we gained in giving presentations helped us to give
more presentations in other schools and even to students of our own school. This gave us
confidence and improved our communication skills.
7 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Appendix Section: Supporting Evidence & Photos of Students in Action
Please find in this space: 1. Three pictures that clearly show our involvement as students in running the business. 2. A copy of the minutes of one of the Business Management Committee meetings (showing the
agenda, who attended, what decisions were made, and what actions were planned/taken 3. 1 example lesson plan showing how business has been integrated in a lesson e.g. Maths
8 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
REPORT ON THE BUSINESS MANAGEMENT COMMITTEE MEETING
DATE - 6th JULY, 2018
AGENDA – Rotation of roles among students
WHO ATTENDED - Principal Mr. Ashok Pandey
Teachers Ms. Neelam Gupta Mr. Puneet Duggal
9 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Ms. Smita Chamoli Mr. Rajeev Jha
Students
Akshita Arora Sanchit
Samyak Garg Harshit
Sabarika Mani Devanshi
Samarth Madan Sahil
Anika Kapur Harish
Prachi Priya Verma
Sachit Kunal
Student heads from all departments also attended.
DECISIONS MADE: It was decided that at the end of two months, the roles of all the team members would be rotated. It was believed that such an initiative would educate the students about the responsibilities and the challenges faced by each department. It would in turn make every member versatile and absence of any student wouldn’t affect the day to day business as now all of them would be capable of handling each and every department.
ACTION PLAN: The students generally take time to adapt to different departments like sales or production and this disrupts the business operations.
Sessions were planned to take place where the students excelling in each department would discuss the various responsibilities and challenges to ensure every student is confident enough to take on their respective roles.
The workshops were conducted successfully by the students in the school premises, and received positive feedback from the members who were now aware of their roles and challenges in their new departments. These training sessions also inculcated a sense of interest among the students and many of them came up with innovative ideas which could help the enterprise achieve new heights.
10 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
11 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Financial Review (Budget Variance Analysis)
In this section we will include the following financial documents:
1. a. Budget Variance Analysis: Profit & Loss and Cash Flow month by month (budgeted
vs. actual)
1. b. Budget Analysis – Summary (totals from 1.a.)
Here is an analysis of the variances between our budget and actuals, including:
Why our income and/or expenditure are different from what we planned (if applicable)
What effects these variances are having on our business
What caused theses variances and if/how we can prevent them from happening again
What actions we have taken/plan to take to manage these variances
Our income has increased as the school firm is now well- known and established. Also, the
expenditure on advertisement has decreased as more and more people are getting to know
about our business. The sales of some products like candles, cakes and plant saplings have risen
due to festive season while the sales of other products like books and artefacts have fallen, but
even though these variances taking place, the total sales have been balanced and the firm
gained profits.
The total productivity of flower bouquets has decreased due to harsh weather and heavy
rainfall whereas the total productivity of merchandise has decreased due to winter season.
There has been no change in the sale price of products as our motto is to provide customers
with good quality products at reasonable prices.
But we plan to increase our sales, by adding a variety of products to our enterprise such as
hand made earrings. We also plan to do the packaging of products in cane baskets which are
eco-friendlier, to customize our products.
We also have a good customer management system. Our customers can avail discounts up
to 12%-15% if they show us the receipts of past 4 purchases. We tend to purchase our products
from our suppliers on credit and give our customers a credit period up to 5 days. Due to our
strong presence on social media, people can place orders through our social media pages which
makes it easier for them to order any product at any given time. We provide special discounts
on online orders and accept cash on delivery as a mode of payment. And if the order exceeds a
specific limit, the delivery charges are also exempted.
12 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
MONTH 1: MONTH 2: MONTH 3: MONTH 4: MONTH 5: MONTH 6:
Not
es
Bud
get
Act
ual
Bud
get
Actu
al
Bud
get
Actu
al
Bud
get
Actu
al
Bud
get
Actu
al
Bud
get
Actu
al
PROFIT &
LOSS
Production
- Units (q)
to be
produced
monthly
Artefacts
20 22 35 33 20 18 15 12 32 30 23 23
Cakes 16 20 23 21 30 35 20 25 15 16 12 12
Books 5 3 10 15 8 6 15 10 10 6 12 12
Cards 15 15 16 14 24 20 23 20 16 12 34 34
Candles 20 24 20 34 20 26 20 25 20 28 20 20
Flower
bouquets
15 14 15 11 15 13 15 10 15 15 15 15
Plant
saplings
with pots
10 10 10 12 10 14 10 15 10 16 10 10
Engaging
with
people of
old age
homes
6hr 7hr 6hr 5hr 6hr 6hr 6hr 6hr 6hr 6hr 6hr 6hr
T shirts 25 22 25 26 25 20 25 21 25 22 25 25
Sale Price -
Unit price
Artefacts
250 sam
e
250 250 250 250 250
Cakes 300 300 300 300 300 300
Books 50 50 50 50 50 50
Cards 60 60 60 60 60 60
Candles 50 50 50 50 50 50
1. a. Budget Variance Analysis:
Profit & Loss and Cash Flow
month by month (budgeted vs.
actual)
13 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Flower
bouquets
100 100 100 100 100 100
Plant
saplings
with pots
130 130 130 130 130 130
Engaging
with
people of
old age
homes
150
per
hour
150
per
hour
150
per
hour
150
per
hour
150
per
hour
150
per
hour
T shirts 100 100 100 100 100 100
INCOME
(Money
coming in)
Artefacts
500
0
550
0 8750 8250 5000 4500 3750 3000 8000 7500 5750 5750
Cakes 480
0
600
0 6900 6300 9000
1050
0 6000 7500 4500 4800 3600 3600
Books 250 150 500 750 400 300 750 500 500 300 600 600
Cards 900 900 960 840 1440 1200 1380 1200 960 720 2040 2040
Candles 100
0
120
0 1000 1700 1000 1300 1000 1250 1000 1400 1000 1000
Flower
bouquets
150
0
140
0 1500 1100 1500 1300 1500 1000 1500 1500 1500 1500
Plant
saplings
with pots
130
0
130
0 1300 1560 1300 1820 1300 1950 1300 2080 1300 1300
Engaging
with
people of
old age
homes
900 105
0 900 900 900 900 900 900 900 1050 900 1000
T shirts 250
0
220
0 2500 2600 2500 2000 2500 2100 2500 2200 2500 2700
TOTAL
INCOME
(Total
money
coming in)
[B]
181
50
197
00
2431
0
2400
0
2304
0
2382
0
1908
0
1940
0
2116
0
2155
0
1919
0
1949
0
MONTH 1: MONTH 2: MONTH 3: MONTH 4: MONTH 5: MONTH 6:
Not
es
Bud Act Bud Actu Bud Actu Bud Actu Bud Actu Bud Actu
14 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
get ual get al get al get al get al get al
EXPENSES
(Money
going out)
Advertisement Expenses
200 200 200 150 100 150 60 100 200 100 120 80
Salary 350 350 350 350 350 350 350 350 350 350 350 350
Event
Organizin
g
Expenses
- - 750 500 - - 800 400
Worksho
p
Expenses
- - - 500 250 - -
Transport
ation 300 300 300 300 300 300 300 300 300 300 300 300
TOTAL
EXPENSES
(Total
money
going out)
[C]
850 850 850 800 1500 1300 1210 1000 850 750 1570 1130
PROFIT/LO
SS [B-C]:
Total
Income -
Total
Expenses
173
00
188
50
2346
0
2320
0
2154
0
2252
0
1787
0
1840
0
2031
0
2080
0
1762
0
1836
0
CASH
FLOW
Opening
balance [A]
810
00
810
00
9830
0
9985
0
1217
60
1230
50
1433
00
1455
70
1611
70
1639
70
1814
80
1847
70
PLUS, Total
Income [B]
181
50
197
00
2431
0
2400
0
2304
0
2382
0
1908
0
1940
0
2116
0
2155
0
1919
0
1949
0
LESS Total
Expenses
[C]
850 850 850 800 1500 1300 1210 1000 850 750 1570 1130
Expected
closing
balance
[A+B-C]
983
00
998
50
1217
60
1230
50
1433
00
1455
70
1611
70
1639
70
1814
80
1847
70
1991
00
2031
30
15 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
1. b. Budget Analysis – Summary (totals from 1.a.)
BUDGET ANALYSIS
TOTAL
BUDGETED TO
END OF
MONTH 6
ACTUAL
TO END
OF
MONTH 6
VARIANCE COMMENTS
PROFIT & LOSS
Production - Units (q) to be produced monthly
Artefacts
145 138 -4.83% According to
demand
Cakes 116 129 11.21%
According to
demand
Books 60 52 -13.33%
According to
demand
Cards 128 115 -10.16%
According to
demand
Candles
120 157 30.83%
Faster sales
due to Festive
seasons.
Flower bouquets
90 78 -13.33%
Goods got
damaged
because of
unfavorable
climatic
conditions.
Plant saplings with pots
60 77 28.33%
Saplings of
better quality
were available
due to change
in supplier
Engaging with people of old age homes 36 hours 36 hours 0.00%
T shirts 150 138 -8.00%
According to
demand
Sale Price – Average Unit price
Artefacts
250 250 0.00%
Cakes 300 300 0.00%
Books 50 50 0.00%
Cards 60 60 0.00%
16 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
Candles 50 50 0.00%
Flower bouquets 100 100 0.00%
Plant saplings with pots 130 130 0.00%
Engaging with people of old age homes 150 per hour
150 per
hour 0.00%
T shirts 100 100 0.00%
INCOME (Money coming in)
Artefacts
36250 34500 -4.83% Decrease in
demand
Cakes 34800 38700 11.21% Festive season
Books 3000 2600 -13.33%
Decrease in
demand
Cards 7680 6900 -10.16% Shift to e -cards
Candles
6000 7850 30.83%
Faster sales
due to Festive
seasons.
Flower bouquets
9000 7800 -13.33%
Goods got
damaged
because of
unfavorable
climatic
conditions.
Plant saplings with pots 7800 10010 28.33% High demand
Engaging with people of old age homes 5400 5400 0.00%
T shirts
15000 13800 -8.00%
Unfavorable
change in
fashion sense
of people
TOTAL INCOME (Total money coming in) [B] 124930 127960 2.43%
EXPENSES (Money going out)
Advertisement Expenses 880 780 -11.36%
Our firm is now
quite well
known, so not
much
advertisement
was needed
Salary 2100 2100 0.00%
Event Organizing Expenses 1550 900 -41.94%
Workshop Expenses 500 250 -50.00% Due to
decrease in the
17 Gold Mid-Year Review Template 2018. ©Teach A Man To Fish
prices of raw
materials.
Transportation 1800 1800 0.00%
TOTAL EXPENSES (Total money going out) [C] 6830 5830 -14.64%
PROFIT/LOSS [B-C]: Total Income - Total
Expenses 118100 122130 3.41%
CASH FLOW
Opening balance [A] 81000 81000 0.00%
ADD Total Income [B] 124930 127960 2.43%
LESS Total Expenses [C] 6830 5830 -14.64%
Expected closing balance [A+B-C] 199100 203130 2.02%
CONGRATULATIONS on completing your Mid-Year Review! Submit NOW!
Remember to submit your completed Mid-Year Review to the School Enterprise Challenge Awards
Programme by logging in to your account at: https://www.schoolenterprisechallenge.org/join/login/
