Resume Wizard - Colorado FFA



Junior and Senior level Ag Bus. | |Colorado Agriscience Curriculum

|Section: |Advanced Agribusiness |

|Unit: |Agricultural Business Records |

|Lesson Title: |Understanding Business Structure |

|Colorado Ag Education Standards|AGB11/12.03 - The student will be able to formulate and analyze financial records and use the information for |

|and Competencies |evaluation and planning. |

| | |

| |Understand business structure. |

| | |

|Colorado Model Content | |

|Standard(s): |English Standard 1: Students read and understand a variety of materials. |

| | |

| |English Standard 4: Students apply thinking skills to their reading, writing, speaking, listening, and viewing. |

| | |

| |English Standard 5: Students read to locate, select, and make use of relevant information from a variety of media,|

| |reference, and technological sources. |

| | |

|Student Learning Objectives: |Determine the best form of business structure for your business |

| |Factors to consider in choosing a business structure. |

| |Identify the various forms of business structure |

| |Learn the advantages and disadvantages of each structure |

| |Learn about Cooperatives |

|Time: |2-50 minute class periods. |

|Resource(s): |Farm & Ranch Business Management, Deere & Company |

|Instructions, Tools, Equipment,|Italicized words are instructions to the teacher; normal style text is suggested script. |

|and Supplies: |You will need a scale/balance, plastic cups and sharpies to write on the cups and weights for the cups (sand). |

| |You will need a computer and projection unit if you are going to use the accompanying PowerPoint. |

| |You can use the “Compare Organizations” completed worksheet for your reference during discussion. |

|Interest Approach: |Use a scale/balance of some kind and have three weights – one marked “Needs” and two marked “Abilities”. Make sure |

| |one of the “Abilities” weights is the same weight as the “Needs” weight. (They could be plastic cups filled with |

| |sand.) Make sure the other “Abilities” weight is either lighter or heavier than the “Needs” weight. |

| |Discuss how their business operation must be “in balance” with the type of business organization they choose. |

| |You might say, “Every ag business has a different situation and different goals. A business structure that works |

| |for one operation may be totally wrong for another operation.” |

| |You might want to give an example. |

| |Leave the two balanced weights on the scale as a visual during the lesson. |

| |You might also give each student two cups that they can write “Needs” on and then as the lesson progresses, assign |

| |a specific type of organizational structure to each student (or groups of students) so they can summarize their |

| |type of structure with the class and “balance” it at the end of the lesson. |

|Objective 1: |The first step in determining your business structure is weighing the needs of your operation against the abilities|

| |of each ag business organization to find the best balance. |

| |The following five established principles are helpful in determining what organizational structure works best for |

| |you. |

| |The organization should be as simple as possible. |

| |The organization should provide access to sufficient resources such as land, labor, capital and management. |

| |The organization should encourage planning for as many years as possible. The helps reduce uncertainty. |

| |The organization should increase the efficiency of land, labor, capital and machinery resources. |

| |The organization should distribute benefits fairly on the basis of contributions to the business. |

| |If students are writing this down, or if you are giving them a handout, make sure the key words are in bold. At the|

| |end of this objective, have them create a silly sentence using the key words so they can recall the material. |

|Objective 2: |Factors to consider in choosing a business structure. |

| |Ownership - Who owns the business organization? |

| |Resources - What is the ability to acquire resources such as land, labor and capital? |

| |Life - How long is the expected life of the organization? |

| |Liability - What is the liability of the owners? |

| |Participation – Who participates in management decisions? |

| |Compensation - What is the compensation for management? |

| |Transfer - How easy is it to transfer business ownership? |

| |Taxes - What problems are there for tax planning (income and estate taxes)? |

| |Estate - What problems are there for estate planning? |

| |Using the words in bold, have a Karaoke Moment following this objective. |

| |Students create a song or rap for an idea, fact, or process. The most popular use of this activity involves |

| |students rewriting the words of an existing song or rap. (See examples on next page.) This activity can be |

| |accomplished individually or in small groups. The lyrics should emphasize key words and phrases to ensure proper |

| |rehearsal. Here’s a way to use Karaoke Moment. |

| | |

| |The Process: |

| |List key points. Instruct students to list on their paper the key words and phrases from a recent unit or lesson as|

| |you create your list on the board or overhead. Students should check their lists with yours. |

| |2. Create a song. Tell students that they are to rewrite the words of a song they know using the words from their |

| |list. Note: You may want to share an example as a model. If your students are new to the Karaoke Moment, consider |

| |providing the lyrics of a simple song for them and allow them to work in small groups. Simple songs include: |

| |“Twinkle, Twinkle Little Star,” “Three Blind Mice,” “Row, Row, Row Your Boat,” “Take Me Out to the Ball Game,” |

| |“Mary Had a Little Lamb,” “The Ants Go Marching,” “Whistle While You Work,” or other songs your students know by |

| |heart. |

| | |

| |3. Share. After a designated amount of time, invite each group to share their new version of the song. Note: Time |

| |varies according to the amount of content expected in the lyrics. For songs like the ones listed above, allow 20 to|

| |30 minutes. |

|Objective 3: |Agricultural Business Organizations |

| |Before listing these, you could use a Go Get It Moment and have the students find the definitions for these three |

| |words. Description for a Go Get It Moment is below. |

| |Sole Proprietorship – A business that is controlled by one manager. A sole proprietor owns, makes all the |

| |decisions, and does all of the planning for a business. This is the simplest form of business organization. |

| |Partnership – A business organization that is controlled by more than one person. Two or more people are associated|

| |for the purpose of conducting a business for profit. |

| |Corporation – A business organization that is run by a board of trustees at the discretion of the controlling |

| |stockholders. It has a separate legal identity and is taxed apart from its shareholders. |

| |Go Get It Moment |

| |Sometimes students just need to get up and move. So how can we have movement and keep the content flowing at the |

| |same time? Here’s a suggestion: students go and get the information they need. It works like this: place sentences |

| |or paragraphs of information in conspicuous and inconspicuous locations throughout the room. Students retrieve the |

| |information and share it with the class or in small groups. This strategy is particularly useful when there is a |

| |significant amount of information that must be covered. |

| | |

| |The Process |

| |Chunk the information. Determine the portions of information you want students to retrieve and the locations in the|

| |room. The information could be reproduced paragraphs from the textbook or encyclopedia, primary or secondary source|

| |documents, key sentences from stories, poems, or texts, or key points of the lecture. These can be written on slips|

| |of paper or note cards. Ideally, there would be one note card for each student, but most likely, there would be 10 |

| |to 15 cards. |

| |Place cards strategically throughout the classroom. Feel free to tape them under desks, chairs, tables, on the |

| |overhead, board, or door, slip them between books on the self, or staple them to the wall. Note: You could add |

| |activities or questions for students to answer at each location when they locate the information. |

| |Students go and get the information. On your command (signal), all students will stand and move throughout the room|

| |locating the cards. Students can move independently, in pairs, or in small groups. By the way, this is a timed |

| |event so let them know how much time is available. Those who find the information remain standing as others return |

| |to their seats. Or if in pairs and small groups, everyone remains standing and reads the information in unison to |

| |the class. |

|Objective 4: |Advantages and Disadvantages of each Business Organization |

| |Sole Proprietorship |

| |Advantages – Owner makes all managerial decisions that affect the business. Can expand or contract the size of the |

| |business, change enterprises, etc. |

| |Disadvantages – Raising capital may be difficult; Responsible for all management decisions; Responsible for all |

| |debts; Injury or illness could stop business. |

| |Partnership |

| |Advantages – Pooling capital and know-how; Labor and management can be divided. |

| |Disadvantages – Inequity of resources (one partner may have more than the other or work harder than the other); |

| |Might acquire new debt to expand operation; Objectives and opinions may vary (i.e. One may want to expand more |

| |rapidly); An injury or death to one partner has a tragic effect on the partnership; each partner is liable for the |

| |others actions; unlimited liability may restrict credit use (could cause delays in management decisions). |

| |Corporation |

| |Advantages – Economic reasons (Can pool capital or combine special skills, abilities or ideas); Separation of |

| |ownership and management; Ease of continuing business (the death of a stockholder doesn’t end the business); |

| |Easily transferred ownership (stock can easily be transferred to shareholders, etc); Opportunity for tax savings |

| |(certain tax advantages and other fringe benefits are deductible like insurance and profit sharing); Limited |

| |liability (liability is limited to the stockholder’s contributions in the corporation) |

| |Disadvantages – Complicated and costly to organize (more red tape); Continuing costs to maintain corporation |

| |(because they must operate in compliance with a corporate charter, there are more rigid laws and more detailed |

| |records, etc); May be difficulty in obtaining credit (More complicated borrowing procedures); May be no freedom of |

| |action (Money in corporate account can not be spent for personal use); Corporation can be sued (if properties are a|

| |part of the corporation, all can be claimed in a law suit); Minority stockholder problems (may be dissatisfied with|

| |dividends and rights); Income tax laws are unique (the corporation pays income tax and the shareholders may have to|

| |pay as well); Termination of a corporation is expensive (this option should not be considered unless it is intended|

| |to be long term). |

| |You could use a Jeopardy-type Moment and state an advantage or disadvantage and then ask students to state the type|

| |of business structure in the form of a question. For example, you would say “Complicated and costly to organize” |

| |and they would say “What is a disadvantage of a Corporation”. |

|Objective 5: |Understanding Cooperatives |

| |Like a corporation, a cooperative is a legal entity distinct from its members |

| |Unlike a corporation, it is not organized for making a profit |

| |Two major premises: |

| |Cooperatives are owned and controlled by the member-patrons |

| |The profits of the cooperatives are returned to the members based on patronage. |

| |Kinds of Cooperatives |

| |Marketing – Members pooling their saleable products and purchase needs in an effort to obtain increased market |

| |power. |

| |Marketing Examples: Storage of commodity, such as grain in elevators |

| | |

| |Purchasing – Members pooling their saleable products and purchase needs in an effort to obtain increased market |

| |power. |

| |Operating inputs such as feed, fuel, fertilizer, etc. |

| | |

| |Service – Group efforts to improve the level of services received by members. |

| |Electricity through rural electric cooperatives |

| |Processing – Organized to provide processing and packaging alternatives for members. |

| |Assembly, processing, and packaging of Ag products |

| |Credit – Acquire funds and provide them to members on a cost basis. |

| | |

| |Farm Credit, Production Credit Association, Federal Land Bank and Bank of Cooperatives |

| |Use a Crayon Moment to teach/reinforce this objective. |

| |Elements. Identify the key elements of the information students are to learn. For example: parts of speech, |

| |independent and dependent clauses, parts of a cell, stages of mitosis, steps in a mathematical equation or |

| |chemistry formula, a progression of events in social science. |

| |Teach. Teach the information using whatever strategy you deem most effective—lecture, video, jigsaw groups, guided |

| |peer teaching, Socratic seminar. |

| |Choose. After students have taken notes or read the text, each student chooses colors that he or she feels best |

| |represents each element. |

| |Apply. Students color the key elements using colored pencils or highlighters. Note: You could pre-select the |

| |colors, especially if this is the first time students are requested to use Crayon Moment. However, when students |

| |choose the colors they are more personally connected to the information. |

| |Share. Students share with a partner or trio what they colored and the connection between the color they chose and |

| |each element. |

|Review/Summary: |Give students a blank chart and let them fill in the categories during discussion or from their notes following the|

| |lesson or provide the chart already completed. Both a blank and completed chart is included in this lesson. |

|Application--Extended Classroom|Students could interview someone in one of the four business structures discussed and/or research a company who |

|Activity: |fits one of the four structures. |

| |Students could take a field trip to businesses that would be willing to share their structure and show the students|

| |the advantages or disadvantages of each. Examples would be Farm Credit, your local Cooperative, or any other |

| |business that would be willing. |

|Application--FFA Activity: |Your chapter may already have a corporation or cooperative in place. If so, make sure the discussion ties to this. |

| |Or discuss the possibility of starting a corporation or cooperative. Have a guest speaker from any one of the |

| |above-mentioned entities at an FFA or Young Farmer meeting. |

|Application--SAE Activity: |Your chapter may have a corporation and/or cooperative in place for members to developed an SAE. If not, ask the |

| |class if they would like to start one. Besides helping students acquire SAE’s, it would be an excellent teaching |

| |and learning tool. |

| |Start a credit cooperative to loan money for SAE’s. |

|Evaluation: |The review/summary worksheet could be used as a quiz sheet with some or all of the boxes left blank for the |

| |students to complete. |

|Evaluation Answer Key: |See “Compare Organizations” chart. |

|Other: |You may want to have a guest speaker on each of the four business structures and spread this lesson out over four |

| |class periods (2 blocks). |

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download