Solar or Wind?
Decision-Making in Entrepreneurship
How much do your students know about the real-world applications of STEAM learning? Don’t miss the new activity from the Ford STEAM Lab, Powering A Business Plan, that challenges students to apply their STEAM skills to real-world situations like opening a business!
In Powering A Business Plan, students will explore how to create a business model that utilizes renewable energy to power a business. After deciding whether they’d like to open a lodge on the water, create a charging accessory for people on the go, or manage a food truck, students will evaluate the costs and benefits of using solar or wind power to run their proposed business. After choosing a renewable energy source, students are tasked with creating a business model that incorporates the green energy solution they’ve selected.
Business Model Background
Powering a Business Plan provides students critical background knowledge about what it means to be an entrepreneur and how to create a business plan. After introducing how to create a blueprint for a business, students will learn more about different types of energy as well as the advantages and disadvantages of renewable power sources.
The SWOT Model
After creating their business model, students will perform a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis on their peers’ business models and will ultimately modify their own business model based on the SWOT recommendations they receive. This model fosters critical thinking as well as problem-solving skills and is a great way to foster in-class collaboration among students.
Looking for more activities from the Ford STEAM Lab?
Check out Designed to Shine, which is another hands-on lesson that challenges students to use Design Thinking to create a prototype of a costume or prop for a person with disability in school play.
Ford STEAM Lab also provides a free suite of online resources to engage students in design thinking, coding, and tech entrepreneurship principles. This digital-blended learning approach takes students through a six-part “Hackacthon” style process, culminating in the creation of a mobile app prototype, business plan, and pitch-deck presentation. Sign up today to get started!