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In your own words, define entrepreneurship. Explain to your merit badge counselor the role of the entrepreneur in the economy of the United States.
Identify and interview an individual who has started his or her own business. Find out how the entrepreneur got the idea for the business and how the entrepreneur recognized it as a market opportunity. Find out how the entrepreneur raised the capital (money) to start the business. How well is the business doing? Report what you learn.
Do the following: (a) Write down as many ideas as you can think of for a business. Get ideas from your family and friends. From your list, select three ideas that you believe are the best opportunities for you. (b) Explain to your counselor why you chose these three ideas rather than the others on your list. (c) For each of the three ideas that you chose, prepare a list of questions that you would ask potential customers. (d) For each of your three ideas, informally interview potential customers, using the lists of questions from requirement 3(c). Report what you learn. (e)Using the information you have gathered, choose the one idea that you feel is your best business opportunity.
Do ONE activity in EACH of the following categories (using the activities in this {the merit badge} pamphlet as the bases for planning and carrying out your projects): (a) Ecology 1. Conduct an experiment to find out how living things respond to changes in their environments. Discuss your observations with your counselor. 2. Conduct an experiment illustrating the greenhouse effect. Keep a journal of your data and observations. Discuss your conclusions with your counselor. (b) Air Pollution 1. Perform an experiment to test for particulates that contribute to air pollution. Discuss your findings with your counselor. 2. Conduct a study to test the effects of acid rain on plants. Discuss your findings with your counselor. (c) Water Pollution 1. Conduct an experiment to show how living things react to thermal pollution. Discuss your observations with your counselor. 2. Conduct an experiment to identify the methods that could be used to mediate (reduce) the effects of an oil spill on waterfowl. Discuss your results with your counselor. (d) Land Pollution 1. Conduct an experiment to illustrate soil erosion by water. Take photographs or make a drawing of the soil before and after your experiment, and make a poster showing your results. Present your poster to your patrol or troop. 2. Perform an experiment to determine the effect of an oil spill on land. Share your journal and discuss your conclusions with your counselor. (e) Endangered Species 1. Do research on one endangered species found in your state. Find out what its natural habitat is, why it is endangered, what is being done to preserve it, and how many individual organisms are left in the wild. Prepare a 100-word report about the organism, including a drawing. Present your report to your patrol or troop. 2. Do research on one species that was endangered or threatened but which has now recovered. Find out how the organism recovered, and what its new status is. Write a 100-word report on the species and discuss it with your counselor. (f) Resource Recovery 1. Perform an experiment on packaging materials to find out which ones are biodegradable. Discuss your conclusions with your counselor. 2. Find out if your local community has a recycling program in effect. If it does, find out what items are recycled, and who pays for recycling. If your community does not have a recycling program, write questions for and conduct a survey on recycling. Include questions about attitudes toward recycling, what should be recycled, and your community's willingness to support a recycling program. Discuss your findings with your counselor.
Conduct a feasibility study of your business idea by doing all of the following (briefly writing or explaining each item to your counselor): (a) Good or Service 1. Identify your business goals. 2. Tell how you will make the good or perform the service. Determine whether it is technically feasible (practical or doable). 3. Determine how you can make enough of the goods or provide enough of the service to meet your business goals. Explain how you will accomplish this. 4. Identify and describe the potential liability risks of your good or service. 5. Determine what type of license you might need in order to sell or make your good or service. (b) Market 1. Determine who your customers are. Identify the type of person who would buy your good or service. 2. Describe the unique benefits of your good or service. 3. Tell how you will promote and sell your good or service to potential customers. (c) Finances 1. If you are selling a good, determine how much it will cost to make one prototype. 2. Calculate the selling price of your good or service. Explain how you determined the price. 3. Tell how you will sell your good or service and make a profit. 4. Determine how much money you will need to start your business. Explain how you will get the money. (d) Personnel 1. Determine what parts of the business you will handle yourself. Describe your qualifications for the work. Determine how your business responsibilities will fit into your schedule. 2. Determine whether you will need additional help to operate your business. If you will need help, describe the qualifications your helpers should have and what duties they will perform.
Do TWO of the following. (a) Sketch a prototype of your good or write a description of your service. (b) Create the prototype. List all of the materials you used to make your prototype. Calculate the cost of all the materials and labor to compute the total cost of making your prototype. (c) Design a promotional poster or flier for your good or service. (d) Project (estimate) your sales through the first three months of operation. Calculate the profit you expect to make.
When you believe that your business idea is feasible, start your business. Show evidence that you started your business (sales receipts, for example, or photos of the good). Report to your counselor the results of your venture.