Download business plan - MacArthur Intermediate School

The Industrial Revolution
In the decades following the Civil War, the United States became an
industrial giant. Old industries expanded and many new ones,
including petroleum refining, steel manufacturing, and electrical
power, emerged. Railroads expanded significantly, making more of
the country accessible to the growing national market economy.
Industrial growth transformed American society. It produced a new
class of wealthy industrialists and a prosperous middle class. It
also produced a vastly expanded blue collar working class,
including millions of newly arrived immigrants and an even larger
number from the countryside that added to the nation’s rapidly
growing cities.
Americans who were born in the middle of the 19th century would
experience enormous changes in their lifetimes. Some of these
changes resulted from a sweeping technological revolution. Their
major source of light, for example, would change from candles, to
kerosene lamps, and then to electric light bulbs. They would see
their transportation evolve from walking and horse power to steampowered locomotives, to electric trolley cars, to gasoline-powered
automobiles. (Library of Congress)
These inventions would change the face of America.
The Task
The inventors of the Industrial Revolution have asked you to create
a company that will manufacture, market and sell their
products.
Do YOU have what it takes to create a successful business?
First, you will complete research on one of the numerous
inventions during the Industrial Revolution.
Next, you will create
a “business plan” that will
outline your vision of your
new company.
Finally, you will create a full-page
advertisement for the product that
you will be marketing.
The Research
Below is a list of inventions. Choose one. Then click on the
following link to complete your research. Inventions between 1850-1900
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Fountain pen (Lewis Waterman)
Light bulb (Joseph Swan, Thomas Edison)
Telephone (Alexander Graham Bell)
Phonograph (Thomas Edison)
Dishwasher (Josephine Cochrane)
Coca-cola (John Pemberton)
Cash register (James Ritty)
Typewriter (Christopher Scholes)
Zipper (W.L. Judson)
Vacuum cleaner (J.S. Thurman)
Washing machine (Hamilton Smith)
Elevator brakes (Elisha Otis)
Sewing machine (Isaac Singer)
Gatling gun (Richard Gatling)
Pullman sleeping car (George Pullman)
For those of you who like a challenge, choose one of
the inventions below by clinking on the link!
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Pasteurization (Louis Pasteur)
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Plastic (Alexander Parkes)
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Internal Combustion Engine (Jean Lenoir)
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Steel (Robert Mushet)
The Business Plan
You will create a business plan that will include the following information. Use an outline-type
format to explain how your business will operate. Click here to see a sample business
plan.
1. EXECUTIVE SUMMARY (Introduction)
1.1. Name of business
1.2. Description of the invention. (Note that
some inventions were improvements
of prior inventions)
1.3. Information about the inventor
2. COMPANY SUMMARY
2.1. Location of business. Explain why you chose the particular location.
2.2. Where do you see the company in 5 years? In 10 years?
2.3. Estimate how many employees you will hire. What kind of employees will you hire? (skilled,
unskilled, men, women, children?)
3. PRODUCT
3.1. Describe your product in detail. What does it do? Does it have any other uses?
3.2. Future products. How will this technology change in 5 years? In10 years?
4. STRATEGY AND IMPLEMENTATION
4.1. Who will you sell to? Think of at least 2 types of buyers
4.2. How will you “market” your product? Marketing is the process of “advertising” your product to
potential customers. You will need to create an advertisement for your product. See page 468 in your
textbooks for an example.
4.3. How will you get your products there? What forms of transportation will be used?
5. MANAGEMENT SUMMARY
5.1. You are President of the company.
5.2. You will need to hire a Vice-President, Sales and Marketing Manager, Product Manager and Finance
Manager. Choose people in the class that you feel are qualified. Ask them they are willing to work
for your company.
Evaluation (rubric)
4
3
2
1
Quality and
Accuracy of
Research
The information
provided is
exceptional and
shows clear
understanding.
Information is
accurate. It is
relevant to the
assignment.
Information is
sparse and is
occasionally
misused.
Information is
insufficient and
clearly shows a
lack of
understanding.
Clarity/
Organization
of Business
Plan
The business
plan is very
detailed and
well-organized.
The plan is clear
and is organized.
The plan at times
is unclear and
ambiguous.
The plan lacks
direction and
focus.
Understanding
of application
of invention
The plan shows
a wide array of
applications of
the invention.
The
purpose/applicat
ion of the
invention is
clearly stated.
The basic
application of
the invention is
satisfactory.
The plan lacks an
understanding of
the basic
application of the
invention.
Writing
Mechanics
(Grammar,
spelling,
punctuation
The writing is
superb, showing
little if any errors
in mechanics.
The writing
shows good
mechanics.
The writing has
several errors.
The writing has
frequent
mistakes.
Marketing/
Advertising
Creativity
The marketing
strategy is very
creative and
clearly shows
understanding of
buyers’ needs.
Marketing
strategy shows
creativity and
understanding.
Marketing is
adequate and
sufficient to meet
the goals of the
business plan.
Marketing shows
little creativity or
understanding.
Conclusion
Congratulations on the completion of your business plan.
You have completed the first step in starting your own
business. Now sit back and watch the money roll in! (if
you’re lucky…)
Some food for thought:
Although many of these inventions during the Industrial Revolution were
ingenious, many inventors did not make a fortune from their creative
ideas. Alas, others who modified/improved the original inventions
made the money! (For example, Henry Ford)
Approximately 4 out of 5 businesses fail within the first 3 years. Why do
you so many businesses fail? How do you think yours will do?
As you watch television or read magazines, notice how companies market
their products to you.