The lower school is buzzing with holiday cheer, and thanks to our third graders, they are experiencing a little of the holiday retail season as well. As part of their study on economics, the entire grade level has been busy creating a classroom business that envisions, plans, produces, markets, and “sells” holiday stationery.
The project kicked off on November 7, following the class’s visit to North Dallas Shared Ministries at the conclusion of their food insecurity lessons. The students reflected on the experience and began to develop a deeper understanding of a budget. November 14 through 18 was the holiday stationery business development and planning period. Students designed and selected a logo for the business and “applied” for positions within the company.
This year’s “open positions” were engineers, production jobs, sales representatives, historians, advertising representatives, and finance group positions. Engineers created the stamps from blueprints, and the production team worked as an assembly line. Members of the production crew also helped pack the product. Advertising generated ideas for the business name and designed posters and other promotional materials to increase brand awareness and encourage sales of "Super Stationery"!
The finance group established and applied to ESD’s Chief Financial Officer, Mary Hernandez-Shushi, for a $350 business loan. They also made their own currency called Eagle Bucks. Sales completed a customer requirement survey to discover what their clients might want, and historians documented the process along the way.
“I loved watching the students work together in their various jobs,” said third-grade teacher Marion O’Mullane. “It was such an engaging experience for the students. Not only did they develop an understanding of economics and how to run a successful business, but they developed teamwork skills, problem-solving strategies, and using a growth mindset.”
To encourage the students during the six-week venture, ESD parent and Shark Tank alum Junior Desinor visited on December 2 to share his expertise as a businessman and inventor and give some advice about creating a successful business.
“I learned so much during this project,” said one third-grade student. “One thing I will remember is that sometimes customers want different things. As a salesperson, you have to create a product that your customer wants or needs.”
Another student echoed that she will also take away the importance of a customer-focused philosophy. “I learned that sometimes the demand is not what you want or think, but it is what the customer wants,” she said. She also said she realized how important teamwork and compromise are in business. “It is not always about what you want, but rather what the majority wants,” she concluded.