School Enterprise Challenge Business Idea Template s5

LEARNING PATHS SCHOOL

ANNUAL REPORT An update on our business this year

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CREATED AS PART OF THE SCHOOL ENTERPRISE CHALLENGE AWARDS PROGRAMME – SILVER LEVEL

Section A: Executive Summary

Business Name Paper Bank Business Activity Reusing of Paper Main product / service Notebooks Our school business social media (Facebook Facebook Page - Paper Bank page, blog, Twitter account etc.) Number of students involved in business implementation activities (including writing Boys-5 Girls-12 Total-17 this Annual Report) Number of students in whole school Boys-750 Girls-650 Total-1400 Number of parents involved in our school business Financial Summary Estimated (figures copied Actual from Business Plan) Our local Our local US Dollars ($) US Dollars ($) currency (Rs) currency (Rs) Period of time budgeted for & actually _5__ Months _5__ Months covered: Total Income: Rs 24,017 $377 Rs 30,500 $469.01 Total Direct Costs: Rs 9,750 $153 Rs 9,750 $149.93 Gross Profit: Rs 15,250 $239 Rs 20,750 $319.08

1 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] Total Indirect Costs: Rs 3,700 $58 Rs 2,150 $33.06 Net Profit: Rs 11,550 $181 Rs 18,600 $286.02 Section B: Running Our Business Here is a summary of what we did to run our business (including activities carried out to launch the business, if we started a different one this year): This year, we continued on the path and ideals set by Paper Bank the previous year, by keeping the same goals in mind and producing the same products, but with the objective of strengthening and widening our newly established enterprise. In order to do so, we carried out various brainstorming sessions (in order to appoint a new task force, discuss business plans, etc.), took various surveys (to assess our target crowd and possible drawbacks), and decided upon the aspects on which we were to spend our profits this year. After the conduction of market research and making of appropriate decisions, we chose to focus our profits on updating and increasing production of notebooks. The production process consisted of collecting and supplying raw material in the form of semi used and unused notebooks. After the production process, we divided roles and duties among the task force and various representatives for the sales. The sales took place in the form of stalls set up and held for various events within and out of the school’s premises. Paper Bank stalls were held at school Parent-Teacher Meetings, Scholastic Book Fairs, and the annual Shopper’s Stop. All in all, through efficient planning, communication and cooperation, we managed to run our business successfully for this session, achieving our objective of strengthening our foundation and leaving hope for a similarly positive and fruitful future of Paper Bank.

2. Here is a description of the different departments we worked in and how often we all rotated roles: Although we allotted defined duties and responsibilities to the taskforce, valuing experience and knowledge over making profit, we took care to frequently rotate roles so that each individual could harness insight into the working of each department. Students in the four departments, i.e., Sales, Marketing, Production and Writing, exchanged duties for a few days at least once a month, hence making this rotation efficient and enriching. By adopting this method, we have not only gained the required experience but have also found new respect for the importance of each department.

Section C: Management & Use of Profits 3. a) Here is an explanation of how we formed our Business Management Committee: In order to form the business committee this year, we first appointed a president who we thought could best fit the description of a leader for this project. Next, we recognized four major sectors in our enterprise; sales, production, marketing and writing, these all required distinct skills to be managed. Therefore, we appointed four vice presidents for the four major sectors. Under the trustworthy guidance of these vice presidents, other students were appointed keeping in mind their contribution to the project and their skill set. With this business management committee, we hope to have successfully recognized the qualities and skills of our team and have put them in charge of their specific departments. Along with the input of all the students, the whole team has been guided by our teachers. b) These are the members of our Business Management Committee:

2 Name Status (teacher/student/parent etc.) Komal Singh Principal Mona Gulati Teacher Amreesh Kaur Teacher Anirudh Aggarwal Student Aditi Khare Student Apurva Dhiman Student

c) And this is a record of the meetings our Business Management Committee held: Date Number of attendees Main subject(s) Signed off by Principal? discussed (Yes/No) 16th August,2017 25 Appointment of the Yes committee 31st August,2017 15 Strategy To Grow Yes 29th September,2017 17 Production Yes 25th October,2017 17 Production Yes 1st November,2017 16 Marketing Yes 20th November,2017 15 Sales Yes

4. Here is an explanation of what we decided to spend our profits on and how we came to that decision: In the previous year, we earned a lot of profit selling notebooks. But, we found that children in the age group of 5 to 8 years were not really interested in buying the notebooks. The reason for this was that they didn’t find the notebooks (the cover, specifically) attractive. So, this year we decided to use the profit towards growing and strengthening our business by making our products more attractive. This helped increase the demand and appeal of our notebooks for all age groups. In order to make the notebooks more attractive; we designed doodles on the cover, made it colorful and bright and added variety into the same. We also spent our profits to increase production, avoiding the shortage of notebooks at any stage.

We, the Business Management Committee, confirm that we agreed democratically how the profits would be spent. Signed by Business Management Committee:

Section D: Achievements, Challenges and Solutions 5. These are the 3 most important things we learned and how these learnings are helping us outside of the business: 1.) COOPERATION AND RESPECT- Through the organised task force and regular brainstorming sessions/ meetings conducted in order to further enhance the proficiency of our endeavour, we learn how to cooperate as well as respect and be open to the ideas of one another. Such values play an important role not only in the commercial and academic aspects but also in day to day life and constructive conversations. 2.) TIME MANAGEMENT- Before participating in SEC, filling out forms and that too within a certain time frame and before a set deadline was a concept alien to most, our knowledge in the same mainly relying upon submission of assignments, etc. Since then, all of the students contributing to Paper Bank, especially those present in the writing departments, have developed skills on managing their time in order to produce the required results in time. Time management is a skill such which can be applied in all facets of life, the root of only positive outcomes no matter what age or occupation. These skills will only continue to get passed on as the students of the current task force graduate and pass on their duties to the future

3 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] members of our enterprise. 3.) ENVIRONMENTAL AND SOCIETAL AWARENESS- Paper Bank is a business formed upon the concept of a plan which can benefit the society and the environment, whilst simultaneously earning profit. Such a concept helps us, as students and adult citizens of the future, realise the importance and joy of social and environmental servitude and the impact issues within the same fields impact each person individually in one way or another. This awareness carries a long way, creating change and collective effort.

5. Here is a quote from each head of department explaining the biggest challenge he/she faced when planning/setting up/running our business and the solution(s) we found to overcome them:

Department Name of student head Main challenge faced Solution(s) (quote) of department (quote) Sales Bharat Datta “The toughest challenge “My team and I decided I faced was devising ways upon giving out offers and which would ensure the providing discounts on the sale of all notebooks.” products” Production Angel Bansal “The two main “We solved this issue by challenges we faced in using profit earned the the production previous year to produce department were more notebooks and increasing production taking various designs and creating more into mind whilst designing attractive notebooks.” the covers.” Marketing Mehtaab Singh “The problem that my “We solved this by taking department and I faced periodic surveys from was how to make our teachers, students, products more appealing parents and other buyers to consumers of all of our products so that we ages.” could have an input on what they desire” Writing Aditi Khare “As the head of the “We (my team and I) held writing department, the frequent sessions and main issue at hand was meetings in order to collecting information attain better and maintaining team communication and collaboration while filling cooperation. This tackled out forms” the main challenge.” ]

Section E: Sustainability & Business Development 6. Our business is sustainable and has a positive impact on the environment and our community because:  Paper bank is sustainable as: * Our enterprise relies on semi-used and unused notebooks as a primary source of raw material. Such a

4 source is practically abundant due to the excessive usage of notebooks in daily life, let it be for the purpose of education, remembrance or mere leisure. Unfortunately, such articles are the often forgotten or discarded after minimal usage. As students, we have also witnessed notebooks with little or no usage being left over at the end of the school session. Hence, collecting such notebooks does not and would not pose a problem in the future and can remain a consistent supply of raw material. * The importance of notebooks, as discussed earlier, deems our products with demand as well. Through Paper Bank, we produce new notebooks and plan on diversifying our range of products and modifying our current product, as we have attempted to do this year. * Run by the students of the school, our taskforce is divided into tiers and departments in order to ensure efficient functioning. Just like the previous year, we still plan on passing these duties down as the current tenth grade leaves the school and the current ninth and eighth grade help formulate the new taskforce, with the current ninth grade having enough experience from this year to take the reigns. This plan was exhibited in the current session and produced fruitful results. All these factors combined promise a sustainable future for our venture.

 Paper Bank has a positive impact on the environment as: Our venture makes use of paper which is not in use. Sticking to the principles of reusing, we achieve not only the prevention of deforestation and other such threats, but also the protection and sustenance of the environment. Notebooks, registers, diaries, etc. which are half- used and are generally thrown away are used for making new notebooks, registers, diaries, etc., thus playing a part in the aforementioned achievements. Our enterprise also helps increase awareness about the growing issues of environmental degradation and wastage of paper as our business grows and expands.

 Our enterprise also has a positive impact on the community/society because: Our project employs underprivileged and/or unskilled people and provides them with the required training for creating notebooks and other crafts from paper (which, regarding our project, would be paper from semi-used notebooks). Resources are then given to them in order to complete the given task, along with fixed proper wages for their labour as well. This employment of labour benefits the underprivileged/unskilled community financially as they are given an occupation and hence can earn for their families. As mentioned above, Paper Bank also contributes to raising awareness, which can only result in progress, innovation and a sense of responsibility in our society.

7. Our school business has definite potential to carry on running sustainably for at least the next year. Here is our clear and realistic action plan for how we will continue to run it next year: Paper Bank, being run by the students of the school under guidance from our teachers, can boast of a taskforce consisting of the students only. This taskforce is divided into tiers and departments in order to ensure efficient functioning. For the stability of such a system, we plan on following the same method as that of the previous year, i.e., passing down the current positions and duties as present tenth grade graduates. This implies that the taskforce of the following session would be formulated by the current ninth and eighth grade, with the current ninth graders who joined the enterprise this session having enough experience to take the reins. This plan guarantees our business potential to run sustainably for at least the next year as the same was demonstrated this year as well and produced fruitful results

Appendix Section: Students in Action Please find in this space some evidence that clearly shows our involvement as students in the setting up, running and management of our business. You will find 3-5 photos (or if that’s not possible, we will share quotes from participating students). A photo of one of our sales events:

5 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] A photo of us running our business:

A photo of our Business Management Committee:

6 FINANCIAL REPORTING

1. Income (actual)

NAME OF PRODUCT QUANTITY SALES PRICE SALES INCOME OR SERVICE (Quantity x Sales Price) 370 Rs.50 Rs.18,500 Registers Notebooks 300 Rs.40 Rs.12,000

TOTAL SALES INCOME Rs.30,500

2. Direct Costs (actual)

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item) 300 Rs.20 Rs.6000 Registers Notebooks 250 Rs.15 Rs.3750

7 SILVER Annual Report Template 2017. ©Teach A Man To Fish [email protected] TOTAL DIRECT COSTS Rs.9750

3. Gross Profit (actual) Our Local Currency

TOTAL SALES INCOME Rs. 30,500

TOTAL DIRECT COSTS Rs. 9,750

GROSS PROFIT Rs. 20,750 (Total Sales Income – Total Direct Costs)

4. Indirect Costs (actual)

NAME OF ITEM QUANTITY COST PER ITEM TOTAL COSTS (Quantity x Cost per Item) Salary 16 Rs.100 Rs 1600

Rent 5 months Rs.250 Rs 1250

Transport - - Rs 500

Photocopy - - Rs 200

Advertising - - Rs 200

TOTAL INDIRECT COSTS Rs.2,150

5. Net Profit (actual)3

Our Local Currency

GROSS PROFIT Rs.20,750

TOTAL INDIRECT COSTS Rs.2,150

NET PROFIT Rs.18,600 (Gross Profit – Total Indirect Costs)

This is how we raised the additional money needed to finance our business:

This year, we didn’t need to raise much additional money as the profit earned the previous year had been higher than our expectations and was more than sufficient for financing our business. But, we still decided to continue on the concept of selling stocks as we did last year.

8 This way, we managed to appropriately finance Paper Bank this session.

Additional comments about our finances:

Our Local Currency used : Rupees

Exchange rate to US Dollars: Rs.65.03

6. Here are two photos showing how we kept our financial records (e.g. purchase ledger, sales ledger, cash flow statement, cash book.

It is important for you, your teacher and for us to reflect on how the Awards Programme has helped you develop your skills. Please ask your teacher to fill in the following sections. ONLY SCHOOLS THAT COMPLETE THIS SECTION WILL BE ELIGIBLE FOR AN AWARD.

1. After going through the activities to implement your school business do you feel your students...

Stayed Please choose ONE option (‘Improved’, ‘Stayed the same’ or ‘Did not improve’) for each row Did not Impro the below…. improve ved same a. Are more confident speaking in front of other people (e.g. during market research) Yes

10 b. Work better with people with different opinions to theirs Yes c. Have improved their team working ability, e.g. if other team members were struggling Yes they offered support to them d. Are more confident analysing information Yes e. Are more able to use their ideas to organise and plan work in order to reach their goals Yes f. Are more able to look at different ways to solve a problem and are more confident in Yes selecting a solution g. Do you feel your students have gained the skills and knowledge to start and run a Yes successful business independently?

2. Can you tell us the biggest impact the program has had on a specific student, their family or even yourself?

3. Through the school business implementation process, which skills do you think students improved/gained the most (max 3): Yes Leadership Communication YES Aspiration Confidence Yes Decision making YES Other – Please specify: Problem solving Yes Team work YES

4. Do you feel the activities helped students improve their performance in other subjects at school? You can choose more than one option. No Yes Yes, in Science Yes Yes, in Maths Yes Yes, in Business Studies Yes Yes, in Writing & Reading Yes, Other – Please specify:

5. Have the students used the skills learned through the school business implementation outside school? Yes If you answer ‘Yes’, please specify (if possible): No HOW – For example, Have they established any business activities?:

With WHOM – For example, with their family, other students, etc.:

CONGRATULATIONS on writing your Annual Report! You have completed Step 3 and the School Enterprise Challenge programme! Submit NOW! Remember to submit your Annual Report to the School Enterprise Challenge Awards Programme by logging in to your account at: www.schoolenterprisechallenge.org/login in order to be eligible to receive your Silver Award.