No Lemons Only Limes: Now What?

Lesson Content

• Lesson Plan Template:

  CTE Lesson Plan

• CTE Course Info and Benchmark Notes

  
  

  Elementary: Social Studies (Financial Literacy) & Health Education

   

• Unit Outline

  
  

  This lesson is designed to be used with the case study, “When Life Gives You Limes” See CPALMS resource ID# 207936.

   

• Career Connection

  
  

  In this lesson students will need to change the business plan/product when supplies have increased in price or are unavailable to still have profits. They will also work in teams and set roles for each team player to create a business plan using a template. 

   

• Learning Objectives

  
  

  Students will be able to:

  • Identify the risks involved when opening a new business and brainstorm some risks for the lemonade stand business.
  • Describe how a team working together can resolve unexpected conflicts.
  • Brainstorm a plan to work with a limited number of supplies when owning a business.
  • Work as a team with different roles and the same end goal.

   

• Prior Knowledge

  
  

  Students should be familiar with:

  • Adding money up to $20.
  • Lining up decimals when adding money up to $20.
  • Financial Literacy vocabulary: consumer, supply, goods, business, profit.
  • Collaborating with others.

   

• Guiding Questions

  
  
  • If you had a conflict or disagreement with your team members/business partners, what are some ways you can help solve conflicts?
  • If the expenses for a business increase, how can you change the business plan or product price to still make a profit?
  • Why are there risks involved with owning a business?

   

• Procedure

  
  
  1. To introduce the lesson, review the vocabulary needed for the lesson.
     • A vocabulary handout is attached for reference.  
  2. Lead a discussion to activate prior knowledge that the students may have as to what a business is and risks that entrepreneurs take. Students will brainstorm a list of risks that come with opening a new business.
  3. Give students a copy of the case study “When Life Gives You Limes” to read with partner.  
     • Display suggested discussion questions as students read: 
       • What risks did the students take when creating their lemonade business?
       • What will happen if the business is not successful?
       • What do businesses do when this happens? 
       • How can the students work together to help the business? 
  4. Present the following scenario to students:
     • Imagine you are the students in Ms. Marshall’s class who need to change their product to use limes instead of lemons due to the price increase. Each of you will have tasks to complete as part of the team.
  5. The students will then break up into groups of 3-5 students. As a group, students will collaborate to decide who will take each role provided in the team roles handout (see attachments) to facilitate the brainstorming process.
     
     • Roles include manager, bookkeeper, product design, and creative marketing (See Teacher Notes). Each role has tasks outlined on the team roles handout (see attachments).
     • Each student in the group will have assigned tasks. 
  6. After the roles for the team members have been determined, they will need to come up with a plan on how to change the original product presented in the case study of lemonade to something with limes.
     
     • They will complete the attached business plan with details about their business. 
     • The new marketing should provide a design to replace the lemons with limes.
  7. Have each team briefly present their new product using limes instead of lemons and their new marketing strategies.
  8. To bring the lesson to a close, students will share at least 1 example of how their group worked together to solve conflict and avoid a business risk.
     • As a group they will discuss examples of conflicts they had, how they worked through them, and how avoiding conflicts helps address business risks.

   

• Teacher Notes

  
  
  • Depending on timing and class needs, this lesson could be completed over a two-day period.
  • The team roles may be adjusted as needed. Other examples of roles may include but are not limited to: team leader, writer, mediator, time keeper, mathematician, marketing leader.
  • Based on the students, the teacher can also allow for students to create different roles than the suggested ones.
  • For the new marketing strategies, students can complete digital materials that feature the lime.

   

• Optional

  
  

  Formative Assessment Ideas:

  • The teacher can review the team’s business plan to see how they addressed the product changes and collaborated as a team.

  Accommodation Suggestions:

  • Students may make a video explaining how they would change their product and the strategies they would use.

   Extension

  • Students can create a flowchart with conflicts and solutions that were found during this case study.