Showing

Showing - Money and enterprise

This online resource contains the following pages:  Home | Knowing | Growing | Showing 

Showing Web ImageIn the Showing (intensive) stage, Aboriginal and Torres Strait Islander students engage in applied learning and demonstrate their financial literacy skills through projects, events, and enterprise planning/delivery.

Students showcase their creativity and innovation and demonstrate skills in:

  • opportunity mapping
  • market analysis
  • business planning
  • alliance building.

They also work with experts, coaches and role models through incursions, excursions, industry placements and interactions with guest speakers.

Overview (includes vocabulary)

In the Showing stage, students learn about the following key concepts:.

  • Unit 1: More Money - Building on the learning that has taken place in the Growing stage, the concept of 'invisible money' is expanded to include considerations of credit, loans and investment. Students identify the pitfalls of using credit for purchases, investigate the issues that can arise in communities as a result of credit and loans, research the range of loans and credit available and learn how to identify trusted sources of information.
  • Unit 2: Money Plans - Starting a business or enterprise requires detailed planning. In this unit students learn about a number of factors that need to be considered prior to going into business. Students investigate the factors that contribute to successful business models.
  • Unit 3: Enterprising Ideas - Students explore the key elements of establishing a business or enterprise. Students learn how to progress an idea or concept by developing a business plan, identifying and utilising support networks, marketing the business and meeting the needs of customers/clients.
  • Unit 4: Your Enterprise - Students showcase their learning by launching their business to the school or broader community. Through this process students learn about the important governance matters that are required for any successful business. They investigate issues such as staffing, contracts, management structure, and ethical and legal requirements.

Video: The 'Showing' stage

Video about Knowing Growing Showing

In this video, teachers talk about how the Showing stage provides an extension of entreprenerialism.

Vocabulary

In undertaking activities in the Showing stage, students may need to develop an understanding of the following terminology and concepts.

  • Profit, loss, debt, supply, demand, success, fees, compound interest
  • Network, clients
  • Pitfalls, risk analysis, quality, brand, image, venture, social enterprise
  • Optional, feasible, feasibility, reliable, reliability, accountability, co-operative
  • False claims, marketing strategies
  • Innovation, governance, management structure
  • Reputation
  • Payroll, overheads, employees, staff

Learning outcomes (includes long-term understandings & prior knowledge)

By the end of this stage students will:

  • know about loans and investments, business structures and benefits of enterprise
  • be able to identify and explain the key factors to starting and running a successful business and where to find help to do this
  • understand how funds can be generated for individual and community wellbeing by operating a business
  • understand that local producers and entrepreneurs have the potential to support and help communities.

Long-term understandings

  • Establishing a small business can be a complex process and unique to the individual business and circumstances.
  • The success of a business is dependent on planning, goal setting, market research and wise use of available finances.
  • Products and services have many hidden costs associated with their production and delivery.
  • Learn from the experiences of successful business operators.

Prior knowledge required

To undertake activities in the Showing stage students:

  • should become increasingly familiar with the above vocabulary
  • will be familiar with the concept of social enterprise
  • will know about contracts and their purpose
  • be aware of scams and safety and ethics around online transactions
  • will require experience with digital technologies, researching and using information on the internet
  • should understand fractions and percentages and be able to calculate basic percentages
  • should be familiar with and create basic spreadsheets
  • invisible money - Eftpos, credit and debit cards
  • should have a clear understanding of money, value, needs and wants and consumer choices

Students will use their literacy and numeracy skills developed in previous stages to navigate the activities in this stage as well as their knowledge of money and handling money gained in the Knowing stage. The broader concepts of protecting your money and making money work to help create wellbeing for communities gained in the Growing stage will also be utilised in the Showing stage.

Educator Guide (includes suggested activities & assessment rubric)

The Educator Guide for the Showing stage contains:

  • Suggested activities - aligned to the curriculum and link the learning outcomes and focus questions to real-life scenarios. Teachers can select and adapt activities to suit their cohort. Activities include:
    • Credit and loans
    • Interest rates
    • Influences on spending
    • Business basics
    • Is starting a business for you?
    • Promotion and marketing
  • Assessment rubrics - aligned to the Australian Curriculum content descriptions together with suggestions for assessment are provided. Assessment material is intended as a guide and available for download to be modified and adapted to suit teachers' needs.
  • Online resource content - print version of all the content within this online resource.

Download the word or pdf version of the Educator Guide below:

 

Community and cultural considerations (includes guiding ideas)

The following seven guiding ideas provide support to teach consumer and financial literacy through the Showing stage in a way that is meaningful and empowering for Aboriginal and Torres Strait Islander students. These ideas support the incorporation of community and cultural considerations in a learning context.

Guiding ideas

Following are seven guiding ideas to support your teaching of consumer and financial literacy through the Showing stage in a way that is meaningful and empowering for Aboriginal and Torres Strait Islander students.

COMMUNITY

icon-community

Connect with community & cultural identity

Within communities there are often a number of Aboriginal and Torres Strait Islander organisations that like any business require financial management procedures, business planning, and organisational governance on an ongoing basis. This includes land councils, housing cooperatives, health organisations, and family and youth services. There are also 'mainstream' organisations that are involved in banking, loans, credit and investment. 

REAL-LIFE APPLICATION

icon-reallife

Build on your students' real-life experiences

Capitalise on the experiences and interests of your students. For example, if students are aware of, or interested in, car loans then put into place learning experiences that inform students of the opportunities and traps in borrowing money. 

PRIOR EXPERIENCES

icon-priorexperience

Gather information about prior experiences with money

Use questioning and observation to learn about the students interests in regards to creating a business or community organisation. For instance, teachers could facilitate learning experiences whereby students take stock of the services that already exist in the community and identify gaps in goods and services. 

STORY

icon-story

Recognise the power of story

Aboriginal and Torres Strait Islander societies are founded on narrative-based cultures. The power of story has shaped lore, identity, law and connection to country. In contemporary teaching, story-telling can be used as a powerful learning tool to share experiences, explore students' insights and differing perspectives, find meaning, and shape ethics and morals. Where appropriate, teachers use story-telling to teach abstract concepts by referring to cultural knowledge and experiences. 

SHARING

icon-share

Reinforce cultural values of sharing

In some communities, the connection between money and culture may not be immediately apparent and may be seen as incongruent and inconsistent with community values.

However, by working from an Aboriginal and Torres Strait Islander values-system point of view, teachers can help connect these dots. In class, teachers can help to reinforce an Aboriginal and Torres Strait Islander cultural message that 'money can be used for sharing and caring.' This goes to the heart of an Aboriginal and Torres Strait Islander ethos of reciprocity, sharing, and looking after each other. By working from this moral principle, students begin to appreciate that money can be a resource for community wellbeing, not just individual wealth. 

DIVERSITY

icon-diversity

Embrace diversity

Social and cultural diversity will exist among your group of Aboriginal and Torres Strait Islander students and care must be taken to avoid stereotyping. A student will enter school with differing interests and varying degrees of prior knowledge/skill. Due to historical factors, such as the Stolen Generations, they may also enter school with varying degrees of cultural understanding and sense of identity.

Aboriginal and Torres Strait Islander students often have shared cultural values and social experiences, including a world view that is shaped by their Aboriginal and Torres Strait Islander identity, a deep sense of obligation to family, and similar upbringings in places of poverty and financial hardship. 

ACHIEVEMENT

icon-achievement

Celebrate achievement

Quality teaching in Aboriginal and Torres Strait Islander contexts means adopting a strengths-based approach to teaching and learning. This means that you will be continually building upon what students know, as opposed to highlighting what they do not know. Adopt a two way learning approach to your teaching, whereby you share your knowledge and experiences about financial literacy while students share their knowledge and experience with you and their peers.

Quality teaching in Aboriginal and Torres Strait Islander contexts also means that teachers will be positively reinforcing cultural identity. 

Real-life scenario

Authentic context

This scenario has been developed to provide a real life context that could frame the unit and the learning opportunities as well as generate discussion on developing an understanding of money and specific cultural aspects of money relevant to this stage.

Teachers are encouraged to adapt the scenario to suit the level and learning of their students.

Scenario3

An Elders' Community Group has come to your school and has asked young people for their help. The Chairperson explains, "We need the next generation to come up with ideas that will bring more jobs, healthy people, protect the environment and make the community strong".

The Elders' Community Group wants a blueprint (strategy) that grows:

  • The number of jobs in the community
  • The amount of money in each family and clan group
  • Privately run businesses
  • Community run enterprises that improve community wellbeing and environmental sustainability.

How could your students making these ideas happen?

Note for teachers

This scenario is all about entrepreneurialism. It requires creativity, problem solving, group work, and business planning. Students will need to consider:

  • economic and job growth
  • how to strengthen the community and protect the environment.

Activities from previous units may support work on this scenario.

There isn't a right or wrong response. Students need to justify why they have reached their decision and consider the advantages/positives and disadvantages/negatives of their decisions.

Unit 1 - More money (includes focus questions)

Key concepts

The key concepts covered in this unit are:

  • Understand credit and loans
  • Giving and sharing
  • Managing debt
  • Growing money.

In order to build upon the learning that has taken place in the Growing stage, the concept of invisible money is further developed in relation to credit, loans and investment. This has direct relevance to business and enterprise. Students also investigate the types of community issues that can be created by credit and loans and learn how to identify trusted sources of information.

Focus questions

Focus questions are provided as a guide to assist teachers to engage students in the key concepts addressed in the unit with a view to addressing the learning intentions of this stage. Teachers can use guided questioning to establish student levels of knowledge and awareness of credit.

Building understanding:
  • What is credit?
  • What are some different types of credit?
  • What are the pros and cons of accessing credit?
  • What is the cost of credit?
  • What is a loan?
  • When is it a good idea to access a loan?
  • What is investment?
  • How can we get money to grow?
  • Why would we give money away?
  • What terminology about credit, loans and investment do we need to learn?
Aboriginal and Torres Strait Islander experience with money:
  • How are Aboriginal and Torres Strait Islander communities affected by the giving and sharing of money?
  • What are the forms of loans and credit specific to some Aboriginal and Torres Strait Islander communities?
  • What issues do some Aboriginal and Torres Strait Islander communities face? - Book up, humbugging, rent verses buy. (Where this relates to a community)
  • How do loans and credit relate to your community?
  • Should we critically consider marketing claims? - Buy now, Pay later.
  • What are the ethical and legal issues with advertising?
  • How would the community benefit from its members 'giving away' money? - explore the cultural aspects of sharing and other situations E.g. donating.
Personal experience with money:
  • Where can I access reliable/trusted information about money? Who can I trust to give the right information about loans etc.?
  • How could I share reliable information with my community?
  • What are the pros and cons of borrowing / lending money? Rent vs Buy?
  • Do I need money to set up a business? How would I get this money?
  • Have you ever made a donation? What was it, to whom did you donate and why?

Unit 2 - Money plans (includes focus questions)

Key concepts

The key concepts covered in this unit are:

  • What is a business?
  • Understand business basics
  • Community needs
  • Forms of business.

What is a business?

Starting a business or enterprise requires detailed planning. This unit steps students through a number of factors that need to be considered prior to going into business. This process teaches students about the factors involved in developing a successful business model.

'Business' can mean a private individually-run business, or a collectively-run business, or a community controlled social enterprise that is run like a business but the objective is community wellbeing not individual profit such as an art cooperative or community health centre.

Focus questions

Focus questions are provided as a guide to assist teachers to engage students in the key concepts addressed throughout the unit. Teachers can use guided questioning to establish student levels of knowledge and awareness of money.

Building understanding:
  • Why do people start businesses?
  • What issues need to be considered when thinking about starting a business?
  • Who can help develop a business model?
  • What is market research?
  • Is there a need for this business or social enterprise?
  • Are there any businesses or community enterprises similar to the one you would like to start?
  • Who is your customer?
  • Why would the business be successful?
  • What types of business models are there? - Community, not for profit, etc., service-oriented
  • Is your community missing any types of community organisations and/or businesses?
  • What services or products would be of benefit to the community?
Aboriginal and Torres Strait Islander experience with money:
  • How did Aboriginal and Torres Strait Islander people get what they wanted and needed in the past (before money)?
  • How do Aboriginal and Torres Strait Islander people get what they want and need today?
  • Who are some of the Aboriginal and Torres Strait Islander role models in your community that have developed and successfully run businesses or community enterprises?
  • What are the differences and similarities between a private business and a community cooperative (or collectively run social enterprise)?
  • What issues and challenges have been identified in businesses and community organisations that were not successful?
Personal experience with money:
  • Have you or any members of your family been involved in a business of any form?
  • What do you expect when you are a customer of a business?

Unit 3 - Enterprising ideas (includes focus questions)

Key concepts

The key concepts covered in this unit are:

  • How to start a business
  • Impact of business on community
  • Promotion and marketing
  • Business lifecycle.

This unit considers the key elements of establishing a business or enterprise. Students are given the opportunity to progress their business/enterprise idea by developing a business plan, identifying and utilising support networks and marketing the business.

Focus questions

Focus questions are provided as a guide to assist teachers to engage students in the key concepts addressed throughout the unit. Through guided questioning, teachers can establish their students' level of understanding about what is involved in starting a business.

Building understanding:
  • How do we start to develop a business?
  • What do we need to know? Do?
  • What is a business plan?
  • What are the key elements in a business plan?
  • Will my business aim to make a profit or surplus?
  • What will happen with the profit or surplus?
Aboriginal and Torres Strait Islander experience with money:
  • How will the business enlist support from our community?
  • Consider the impact that some businesses have on Aboriginal and Torres Strait Islander communities.
  • Where can Aboriginal and Torres Strait Islander communities go for support in creating and managing a business or community enterprise?
Personal experience with money:
  • How will my business make money / cover costs?
  • How will I promote my business? What marketing strategies will I use?
  • As a customer, what is important to you when dealing with a business?
  • What would customers expect when they access your business?

Unit 4 - Your enterprise (includes focus questions & enterprise challenge)

Key concepts

The key concepts covered in this unit are:

  • Business governance
  • Understand business structure
  • Social dimension of business
  • Staffing a business
  • Engage community.

Students launch their business by presenting it to the school or broader community. In doing this, students must consider important governance matters. In this unit, students will investigate issues such as staffing, contracts, management structure and ethical and legal requirements.

Focus questions

Focus questions are provided as a guide to assist teachers to engage students in the key concepts addressed throughout the unit. Through guided questioning, teachers can establish their students' level of understanding about what is involved in running a business.

Building understanding:
  • Who will run the business?
  • What are the legal and ethical considerations in regards to my business?
  • What government requirements are there for my business e.g. superannuation, tax, business registration?
  • What is a contract?
  • What staff will I need?
  • How will my staff be paid?
  • How will I select and employ staff?
  • Who should sit on my management board?
Aboriginal and Torres Strait Islander experience with money: How will my business impact the broader community? Its social dimension? Its physical environment?
Personal experience with money: How will I ensure staff are happy and suited to the business?

Your enterprise challenge

Present the business model to the community, complete with mock-ups of advertisements as were created in Activity sixteen and role-plays of transactional activities and various elements of running the business.

Build on and strengthen your marketing plan from activity sixteen. Use various media, such as radio, film and posters, to devise and present an advertising campaign for your business venture.

Business website

Develop your business website. Consider that customers may wish to purchase your product online. Explore online safety if credit and debit cards are being used for purchases.

  • How will your customers be protected in an online environment?
  • How will your business be protected in an online environment?
  • How will you ensure your customers are clear on what the product is and does?

For further information on scams, visit the Stay smart online website.

Refer to Knowing and Growing to further explore ethics and safety online.

Curriculum links

Knowing Growing Showing is a flexible resource which provides a progression of learning across the three stages. Although some activities align with year levels in the Australian Curriculum, activities can be adapted to meet the learning needs of students across all year levels.

The Showing stage - Australian Curriculum mapping (PDF) contains mapping to the:

  • Australian Curriculum Learning Areas.
  • Australian Curriculum General Capabilities.
  • National consumer and Financial Literacy Framework.

General capabilities

The Knowing Growing Showing resource is strongly linked to several aspects of all general capabilities   and the mapping identifies which elements of each capability the resource supports. Depending on student learning and individual learning needs, teachers can choose the level for each identified element and adapt activities to support to develop in their students.

Teachers can use the general capabilities to:

  • provide a useful avenue to personalise learning so that teaching and learning programs take account of students' current levels of learning, strengths, goals and interests, and individual learning needs.
  • target their teaching and learning programs so that they meet the learning needs of their students using age-appropriate content.

Additional resources

 


Last updated: 09 May 2019