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Waymaker Introduction to Business In-Class AssignmentsInstructor Note: Instructor Note: Sample assignments and activities are provided below. Because they are openly licensed, you may use them as is, modify them, or use something completely different in your classes. CONTENTSModule 1: Role of BusinessIn-Class Team Assignment: External StakeholdersModule 2: EconomicsIn-Class Team Assignment: Supply and DemandModule 4: Financial Markets and SystemIn-Class Assignment: Deficit and Debt DirectionsModule 6: Business Ethics and Corporate Social ResponsibilityInstructor Resource for In-Class Assignment: Ethical DilemmasIn-Class Team Assignment: Ethical DilemmasModule 11: Teamwork and CommunicationIn-Class Assignment: What You Heard Is Not What I SaidModules 9, 10, 11: One OwnerIn-Class Team Assignment: One Owner, Many Hats Module 12: Managing ProcessesIn-Class Assignment: Build a Better MousetrapModule 13: Marketing FunctionIn-Class Assignment: Choosing a Brand NameModule 15: Human Resource ManagementInstructor Resource for In-Class Assignment: “The Layoff”In-Class Assignment: “The Layoff”Module 16: Accounting & FinanceInstructor Resource for In-Class Assignment: Go with the FloIn-Class Assignment: Go with the FloModule 1: Role of BusinessRecommended Placement: Module 1: Role of BusinessIn-Class Team Assignment: External StakeholdersInstructionsDivide students into small groups. Each group will complete the following and then report to the class.Identify a business with which everyone in the group is familiar. This can be a local business or a national chain.For the selected business, identify at least four external stakeholders. Be as specific as possible. For each external stakeholder, consider how it would be impacted by:The rapid expansion of the business to include new markets or new productsA downturn in the economy that would negatively affect the company’s revenuesAfter all of the groups have presented, conduct a general debrief about how the health of a single business can have an impact on the larger community and economy. Ask students what they learned from the activity and how it may have changed the way they view business in general. Attribution:ORIGINAL CONTENTIn-Class Team Assignment: External Stakeholders. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 2: EconomicsRecommended Placement: Module 2: Economic Environment In-Class Team Assignment: Supply and DemandNote: This activity should be assigned at the end of one class period and completed during the next class period. Instructions After students have completed their readings and study of supply and demand, use this activity as a self-check for their understanding of the concepts. At the conclusion of the class period in which you have discussed supply and demand, provide each student with ONE of the twelve scenarios on the worksheet linked below. Multiple students may receive the same topic, which is fine. Explain to the students that before the next class period they will read an article, and then, based on the scenario and article, they will bring the following information back to share with the class: OPTION: Have students draw the supply and demand curve on the board, showing the shift in the curve.ALTERNATIVE: Select one or two of the scenarios on the attached handout and conduct this as an in-class activity, providing students with the relevant facts from the article. Conduct class-wide discussion to allow students to come to consensus on how the curves will shift. Worksheet: CONTENTIn-Class Team Assignment: Supply and Demand. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 4: Financial Markets and SystemRecommended Placement: Module 4: Financial Markets and System In-Class Team Assignment: Deficit and Debt Directions ConnectionInstructionsPrint out the following PDF with instructions for this activity: This resource is provided by the Federal Reserve Bank of Richmond, originally accessed at this link: Attribution:ORIGINAL CONTENTIn-Class Team Assignment: Deficit and Debt Directions Connection. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 6: Business Ethics and Corporate Social ResponsibilityRecommended Placement: Module 6: Business Ethic and Corporate Social ResponsibilityIn-Class Team Assignment: Ethical DilemmasInstructionsThe student version of this activity includes a set of six ethical dilemmas. Divide students into six teamsEach team should receive a copy of their team’s assigned ethical dilemma. They are:Financial DisclosureWho Owns My Time?Technology TemptationsIs Anyone Listening?Community InvolvementAt What Price, Safety?One student in each team should be designated to record the comments of the teamOne student from each team should be designated to report out to the class at the conclusion of the exerciseStudents will read the scenarios and then answer three questions:Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?After the teams have discussed their scenarios and are ready to report their team’s findings, be sure that the entire class understands the ethical dilemma the team addressed. This can be accomplished in several ways, such as the following:The student reads the scenario to the class.The instructor reads the scenario to the class.The text of the scenario is projected onto a screen in front of the classroom. After each team has reported out, guide a general class discussion of the dilemma and the team’s conclusion.Attribution:ORIGINAL CONTENTInstructor Resource for In-Class Team Assignment: Ethical Dilemmas. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Six Ethical DilemmasFinancial DisclosureBy law, corporations must disclose (reveal) financial information to the public so the public and its investors can make sound financial decisions. This poses an advantage and disadvantage for corporations. If the company is doing well financially, then they will be in greater demand for investors to take a risk in their company. If the company is doing poorly, financially, then they will lose out to competitors and be in less demand for investors to take a risk. Enron, an energy distributing company, was in a partnership with Arthur Anderson, an accounting firm. Arthur Anderson was responsible for auditing the financial books of Enron. “Auditing” means to examine, inspect, and report proper financial information to the public and Enron’s investors. Executives from both businesses secretly knew that Enron was in financial disaster, and the numbers were changed around in the financial books to show that the company was doing quite well. Enron shredded documents to hide the fact that Enron was in financial trouble. Enron executives later sent emails to their employees reporting that the company was growing and in good financial shape. Enron employees were encouraged to invest in the company through their 401K, a retirement account. Several months later, Enron filed for bankruptcy, and their stock price fell from $65 a share to $0.60 a share.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsWho Owns My Time?Employers and employees have a unique relationship. The employee agrees to provide the employer with a fair day’s work. In return, the employer agrees to provide a fair day’s wage.Situation 1: Kendra Nickel is a receptionist for Media Technologies. After the company installed voice mail, Kendra’s workload became lighter, so her supervisor assigned additional responsibilities, including some accounting tasks. Even with these assignments, Kendra is not always busy. To fill the time, she plays computer games. Situation 2: At Cooks’ Corner, a kitchen equipment store, most employees work less than 40 hours per week. However, only employees who work a minimum of 40 hours per week are eligible for health insurance.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsTechnology TemptationsAlong with the many benefits it affords, technology also presents us with new temptations. Technology allows us to access information for many legitimate reasons, but it can also create ethical dilemmas. What do you think about the situations presented below? Situation 1: Marcie Connors collects overdue accounts for a large credit card company. She has access to records of all transactions for any customer. Marcie sometimes looks up the records of famous people. She checks to see where they use their credit cards and how much money they spend. She sometimes tells her friends about the buying habits of entertainers and politicians.Situation 2: Jimmy Jenkins works for a not-for-profit organization. Recently, he found a list of computer passwords near a photocopier. He started using these passwords to look at other employees’ email files.Situation 3: Azure Olds is in college and works as a sales clerk in a bookstore. Occasionally, the scanner in the store is unable to read a barcode on a customer’s selection, and the clerk must enter the code using the keypad. Azure sometimes makes mistakes when she enters the code. As long as the customer does not object, Azure thinks it’s unnecessary to correct her mistakes.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsIs Anyone Listening?The Berman Company enjoys a reputation as a good place to work. The company strives to provide quality services for clients.Situation 1: Harvey Hess likes to be the first to know what’s going on in the office. One of the reasons he is so well informed is that he looks through the papers on the other employees’ desks.Situation 2: To improve customer-service quality, employees’ telephone calls are monitored. Monitoring is random and employees do not know when a quality manager is listening to a call. Customer-service representative Ryan Ward made a personal phone call while Megan Burke was monitoring the line. During the call, Ryan made plans for his weekend activities.Situation 3: Antonio Morrison used his office computer to prepare his résumé and some cover letters. Darrin worked on these documents after hours and provided his own paper for printing. He later learned that his supervisor knew about his job search. The supervisor, David Williams, found the computer files while looking for a report that Darrin had prepared.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsCommunity InvolvementDawn Roundtree, a certified public accountant, is a member of the Pine Island zoning board. The board is reviewing a request to rezone a large section of property on the outskirts of town. The zone change would permit Best Buy, a national electronics retailer, and Wal-Mart, a national discount superstore, to build property if the zoning is approved. The Super Wal-Mart would consist of a grocery store, deli, auto repair and tire installation shop, toys, men’s and women’s clothing, pet accessories, electronics, sporting goods, automotive products, home accessories, a salon, eye care service, and a lawn and garden area. The plans also include a coffee, beverage, and sandwich shop. Developers believe that Best Buy and Wal-Mart would improve the community and offer citizens quality merchandise at significantly lower prices than they are now paying. Local landowners are worried about their ability to sell the property unless it is rezoned; this is the only large piece of undeveloped land in Pine Island. Local retail storeowners have expressed fears that the giant retailers will force them out of business. Other business owners have pointed out that the closing of retail stores in the central business district will have a negative impact on other businesses and the community at large. Dawn knows most of the people who have presented their side of this issue; some of them are clients of hers. Understanding the possible negative impact the new stores could have on many of her firm’s small retail clients, Dawn has decided to vote against the rezoning. In a three-to-two vote, the zoning board denies the rezoning request.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsAt What Price, Safety?Ford Motors assembles a safety system for passenger automobiles. This system substantially reduces severe injuries to drivers involved in accidents. In an effort to increase profits, Ford Motors recently took steps to cut costs and increase production. Ford Motors has begun using some less expensive components. These components increase the system’s estimated failure rate from 12 to 15 failures per 10,000 accidents. Despite this increase, the company continues to meet the government’s safety standard of 20 failures per 10,000 accidents.Use the three-step checklist to determine whether the actions above demonstrated ethical behavior.Is this action illegal? Explain your reasoning.Does the action violate company or professional standards? Who is affected, and how, by the action?People AffectedNegative EffectsPositive EffectsAttribution:ORIGINAL CONTENTEthical Dilemmas. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Modules 9, 10 and 11: One Owner Recommended Placement: after the conclusion of Modules 9, 10 and 11In-Class Team Assignment: One Owner, Many HatsInstructionsThis assignment combines concepts from module 9 (Management), module 10 (Motivating Employees), and module 11 (Teamwork and Communication). You will be assigned to a team and given a scenario to develop a team report.? You will use the classroom time to work with your team on developing the report.Working with your assigned team, complete the tasks described below. You will use two classroom sessions to complete the work.Submit the completed assignment to the assignment folder. Each team member will submit the same report for grading.A third classroom session will be used to present your team report to the whole class.ScenarioWanda finally makes the decision to move her business out of her home and rent a small building in town that has space for a commercial kitchen, as well as enough room for some retail sales. She knows that she is going to have to manage more “moving parts” of her business, but she isn’t sure what that will entail. When you press Wanda for details, she indicates that if she expands she will add the following positions to the company:A full-time dog treat baker;One part-time baking assistant;A retail sales clerk who will also handle the Web site and Etsy sales;One part-time administrative assistant who will help Wanda with day-to-day operations and paperworkIf her sales projections are correct, she also that within the next 12 months she will add:One part-time bookkeeper;A full-time e-commerce manager who will handle all of the Web site traffic and Etsy orders;One part-time marketing manager to promote the Salty Pawz brand and help develop new products.To add to Wanda’s worries, she is concerned about her friend Jamie who has been working together with Wanda since the first dog biscuit came out of the oven. Now that the business is expanding, she can’t seem to get Jamie motivated to accomplish the things she delegates to her. She pays Jamie a salary now, so it’s not like the old days when she was working in exchange for dog treats. She has even given Jamie more responsibility; Jamie now supervises two other employees, a challenge Wanda assumed that Jamie wanted.One afternoon she stops Jamie in the hallway and asks her if everything is going okay. Jamie says yes. Later that same week Wanda and Jamie are meeting about an upcoming promotion they are holding at the local animal shelter. Jamie takes a few notes but?doesn’t?share Wanda’s enthusiasm for the event. Wanda comes right out and asks Jamie if she has lost interest in the business. Jamie shrugs her shoulders and says no, she is good with everything.InstructionsPrepare an organizational chart for Wanda that depicts what her role as a manager will look like if she expands as outlined above.In addition to the chart, for?each direct and indirect report, provide details regarding?how or by whom the position will be managed, and what kind of management functions will be performed. Be sure to explain to Wanda specifically how each management function may affect her, those she is managing, and the business in general.?In addition to the structure of Wanda’s organization, describe the type of management style you observe from Wanda today and recommend an appropriate style to consider going forward. Explain?some reasons why Jamie may lack motivation and enthusiasm for the business at this point. Make sure that the?reasons?you present are?supported?by sound motivational theory as established by leaders in the field.Conclude with an assessment of your team’s performance for this assignment, including the type of team structure you employed and the various stages of your activity.ORIGINAL CONTENTOne Owner, Many Hats. Authored by: Betty Fitte. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 11: Teamwork and CommunicationIn-Class Activity: What You Heard Is Not What I SaidRecommended Placement: Module 11: Teamwork & CommunicationInstructionsAsk the class to take out a sheet of notebook paper and a pen or pencil. Tell them that they will be creating a sketch based on verbal instructions. Describe the figure on the attached sheet, making certain to give specific instructions such as “Draw a vertical line, approximately three inches long” or “Draw a circle on the left side of the page,” etc. Give the students instructions in steps, but do not tell them what they are drawing. Do not repeat the instructions or the individual steps. When complete, ask the class to share their drawings. Have students compare their results to your picture as well as one another’s.Activity DebriefLead a discussion covering the following topics:What contributed to the variety of results? What communication barriers did students experience? If students missed details in the instructions, what prevented them from listening or hearing the instructions?How can this type of poor communication affect business operations, customer satisfaction, product quality?Attribution:ORIGINAL CONTENTIn-Class Activity: What You Heard is Not What I Said. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 12: Managing ProcessesIn-Class Activity: Build a Better Mousetrap Recommended Placement: Module 12: Managing ProcessesInstructions?Have you ever wondered how jellybeans are made or what it takes to build the engine for a motorcycle? Well, this is the heart of production and operations management. For this assignment, you will use the Stanford University AIM Manufacturing Web site to explore the process for making a product or process that is of interest to you.In order to complete this assignment you will need to:Open the link: Alliance for Innovative Manufacturing.Once you open the link in a new window, select "How Everyday Things are Made" to open a new window that contains a menu of the videos provided by Stanford University's Alliance for Innovative Manufacturing.Select a product or process from the menu on the left. (See screen shot below.)View the content/videos associated with the product or process you selected.Prepare a one-page summary of the most interesting aspects of the process/product you selected.?Be prepared to discuss your findings in class AND turn in your one-page summary of facts/observationsAttribution:ORIGINAL CONTENTIn-Class Activity: Build a Better Mousetrap. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 13: Marketing FunctionIn-Class Activity: Choosing a Brand Name Recommended Placement: Module 13: Marketing FunctionActivityWhen you go to the store and see a dozen different bottles of ketchup from which to choose, how do you decide? BRAND! In this assignment, you will work with a group of your classmates to create brand names for a list of new products. Each team will share its brand name for the products, and, as a class; we will select the best name for each product. When coming up with your brand names, remember the following characteristics of a good brand name: It should be distinctive. The market is filled with overworked names.?A unique and distinctive symbol is not only easy to remember but also a distinguishing feature.?It should be expressive. A well-chosen name should be indicative of quality, value, desirability, or whatever buying criteria the target market will be using. It should be easy to remember. It should be easy to read, pronounce, and spell. It should be adaptable and expandable to new products. For example, Hotpoint is a great brand name for stoves but probably not as applicable to refrigerators. Suggest an appropriate brand name for each of the following consumer products:A television network targeted at new parents, with shows and infomercials about babies and toddlers. A coffee-flavored vitamin drink.A sports car targeted at middle-aged women.A glow-in-the-dark light switch.A breakthrough prescription drug to treat male pattern baldness.A restaurant serving Japanese and Mexican food.An inexpensive line of cosmetics featuring vibrant colors.A magazine targeted toward pet owners who are on a tight budget.A high-end line of athletic shoes for children under the age of ten.A banana-flavored breakfast cereal. A mobile dental clinic.A squirrel-proof bird feeder.A laundry detergent that contains both non-chlorine bleach and fabric softener. An electronic device that monitors your pet’s moods according to the sounds they make when they are left home alone.A potting soil containing fertilizer and flower seeds that is guaranteed to grow beautiful flowers in any climate.Attribution:ORIGINAL CONTENTIn-Class Activity: Choosing a Brand Name. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 15: Human Resource ManagementIn-Class Team Assignment: The Layoff (Instructor Version) Recommended Placement: Module 15: Human Resource ManagementInstructor ResourcesThis assignment can be completed in a single class period or used as an application activity in class when employment laws/regulations have been covered.Provide each student with a copy of the handout “The Layoff.” Have them read the background information about the company and the brief descriptions of the employees.After they have read the handout, each student will rank each of the employees from 1 through 7 (with 1 being “first to go”).Read each name and have students call out where they ranked the employee for termination.Record their results on a board or flip chart. Debrief as a class, asking students why they ranked the employees the way they did and how their termination recommendations would affect the company if they were followed.Attribution:ORIGINAL CONTENTIn-Class Team Assignment: The Layoff. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.In-Class Team Assignment: The Layoff Recommended Placement: Module 14: Human Resource ManagementTwo years ago, your organization experienced a sudden increased volume of work. At about the same time, it was threatened with an equal employment lawsuit that resulted in an affirmative action plan. Under this plan, the organization has recruited and hired additional women and minority workers. Presently, the top level management in your organization is expecting a decrease in volume of work. You have been asked to rank the clerical employees of your section in the event that a layoff is necessary.Following is the biographical data for the seven clerical people in your section. Rank the seven people according to the order in which they should be laid off; that is, the person ranked first is the first to be laid off, and so forth.Be prepared to defend the order in which you would lay off these employees, keeping in mind the recent lawsuit as well as the laws and regulations governing the employer-employee relationship. Marlin Perkins: White male, aged 45. Married, three children, six years with the organization. Reputed to be an alcoholic; erratic attendance and generally poor work record.Eileen Gaddell: White female, aged 26. Married, no children; husband has a steady job; six months with the organization. Hired after the affirmative action plan went into effect; average work record to date. Saving to buy a home.Antonio Gates: African American male, aged 22. Married, no children. One year with the organization. High performance ratings. Reputed to be shy – “a loner”; wants to start his own business someday.Billy Lucero: White male; aged 24. Married, no children, but wife is pregnant, three years with the organization. Going to college at night; erratic performance attributed to work/study conflicts.Lydia Connors: African American female, aged 49. Widow, three grown children; two years with the company. Steady worker with average work performance. Buddy Rich: White male, aged 30. Recently divorced, one child; three years with the organization. Good worker.Rosario Hernandez: Hispanic female, age 45. Six children, husband disabled one year ago; trying to help support her family; three months with the organization. No performance appraisal data available.Attribution:ORIGINAL CONTENTIn-Class Team Assignment: “The Layoff”. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.Module 16: Accounting and FinanceIn-Class Team Assignment: Go with the Flo (Instructor Version) Recommended Placement: Module 16: Accounting and FinanceBefore students begin this exercise, review with them the following definitions and accounting concepts.DefinitionsRecurring Expense: Any expense that requires cash to be drawn from the business on a “regular” basis. Some expenses will be monthly, some quarterly, and some annually.One-Time Expenses: These expenses are usually incurred at start-up. They typically include items such as fixtures and equipment, initial inventory, and start-up materials.Cash In: The cash taken into the business during the reporting period (month).Cash Out: The cash disbursed from the business during the reporting period.Cash Flow: The way cash flows in and out of a business over time: Cash In minus Cash Out equals the actual Cash Flow. Usually calculated on a monthly basis, but can be daily for certain businesses types. Beginning Cash: Cash remaining from the cash flows of the previous periods and carried forward. Think of this as your check account balance. In all periods except for Start-Up, this will be equal to the “Ending Cash” figure from the previous period.Ending Cash: Cash (either + or -) remaining after subtracting Cash Out from the Cash In during the period.InstructionsUsing “Go with the Flo – Projections,” have students create a set of projected cash flows for Flo’s Trip. Next, have students create a set of actual cash flows from the information using “Go with the Flo—The Trip,” which are her actual pare what happened to Flo’s trip between the time she projected her cash needs and her actual expenses.Suggested Debrief QuestionsWhen comparing your actual cash flow statement and projections, answer the following questions:How much money did Flo have at the end of week five?In which areas was she on target?In which areas was she off target?What benefits do you see in developing projections and then comparing them with actual figures?DiscussionWhat is your reaction to Flo’s trip, and how does it relate to the success or failure of a small business?Attribution:ORIGINAL CONTENTIn-Class Team Assignment: Go With the Flo (Instructor Version). Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution.In-Class Team Assignment: Go with the Flo Recommended Placement: Module 15: Accounting and Finance. Go with the Flo . . . Projecting the Cost of Her TripFlo lives in Raleigh, North Carolina, and decides that she is going to San Francisco to visit Uncle Henry and see the USA. She starts planning her trip and tries to figure out how much money she is going to need. She makes the following assumptions and projections before starting out.Flo has $800 in savings that came from odd jobs around town. She also is able to get Uncle Henry to send her $700 via Western Union before she embarks on her journey. She sells some tube socks at a local flea market and is able to raise another $150. Figuring she has enough cash saved up, she begins to plan her trip.PREPARATION STAGEShe buys a vintage truck for $400, since her only transportation is a bicycle. She plans to purchase an ice chest for $15 and some snack food and beanie weenies for $50. She sees a decent sleeping bag for $25 at a local thrift store and plans on sleeping in the truck most nights and eating her snacks and some drinks along the way. She decides to put $100 in the glove box as an “emergency fund.”TRIP STAGEWeek 1:She plans to stay in a hotel in Atlanta for $25 and one in Birmingham for $25. She also estimates that food will cost her $105 per week for the three weeks that she is traveling, since she has some food and an ice chest with her. She has a cousin in Arkansas who will give her some work and she can earn $50 while she is there. Based on average gas prices, she estimates that her gas will run $210 for this leg of the trip.Week 2:She plans to visit a friend in Colorado who can get her some work that should pay her $50. Again, she estimates that she will spend 2 nights in a hotel at $25 per night along the way. Her estimate for food and gas are the same as week 1 —$210 for gas and $105 for food.Week 3:She is going to Las Vegas and the Grand Canyon this week, so she does not plan to work any odd jobs. She knows the hotels are more expensive, so she budgets $100 for hotels on this leg of the trip. She assumes that the food and gas will still be $105 and $210. SAN FRANCISCO STAGEWeek 4:Flo knows that Uncle Henry has some work lined up for her when she arrives, and that should pay her $300. She plans on selling the truck when she gets there and estimates that she can get $300 for it on the West Coast. She plans on taking Uncle Henry out and estimates that she will spend $50 on entertainment this week. Week 5:Flo has to pay Uncle Henry back the $700 he loaned her before she leaves San Francisco. She estimates that with the $300 she will earn this week and the money she will have left over, she can pay Uncle Henry the $700 and still spend $50 on sightseeing in San Francisco. She projects that she will still have cash left over and can take the bus back home. Flo begins to pack . . . Go with the Flo . . . The Trip! PREPARATION STAGEShe correctly projected her cash in: $800 in savings and $150 from her flea market sales. The truck cost $400 but needed 2 new tires ($50) for a total of $450. She found an ice chest at Wal-Mart for $10 and a sleeping bag for $20. She purchases some snack food and beanie weenies for $40 and keeps $100 in the glove box as an “emergency fund.”TRIP STAGEWeek 1:The motels were more expensive than she had planned—a night in Atlanta was $45 and a night in Birmingham was $35. She stayed within her limit on food and spent only $90, but her gas was $220. Her cousin in Arkansas gave her some work and she earned $65 while she was there. Week 2:The water pump in the truck went out as she left Arkansas. She replaced it with a rebuilt one for $129, using the $100 emergency fund and $20 of her spending money. Because of the unexpected expense, she slept in the truck instead of staying in hotels. Her food bill this week was $115, but her gas was only $205. Her friend in Colorado came through with a job that paid $80.Week 3:Hotels and food in Las Vegas and the Grand Canyon were expensive, so she spent $80 for one night in Las Vegas and slept in the truck the rest of the trip. Money was getting low, so she stocked up on peanut butter and beans and only spent $60 on food. Gas cost $200. SAN FRANCISCO STAGEWeek 4:Flo made it to San Francisco, but she is almost broke! She quickly tried to sell the truck. Her best offer was $300 because the brakes were getting bad. She took the offer. She paid Uncle Henry $100 of the money she owed him. San Francisco was great! She spent $100 downtown having fun and seeing the sights—Fisherman’s Wharf, Chinatown, and the Golden Gate Bridge. Uncle Henry paid her $300 for working the first week, and she immediately gave him the money back to pay off more of the loan.Week 5:Flo bought gifts for friends and family back home, spending $100. Entertainment expenses totaled $50 as she had planned. She paid Uncle Henry back the last $300 of the loan when he paid her for the second week of work. Attribution:ORIGINAL CONTENTIn-Class Team Assignment: Go With the Flo. Authored by: Linda S. Williams. Provided by: Tidewater Community College. License: CC BY: Attribution. ................
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