Toys Us or Them

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TOYS ARE US OR THEM PURPOSE: • To experience a situation that creates increased competition for a business • To develop strategies to respond to the competition MATERIALS: • “Toys Are Us or Them” handout (1 per group) • Chart paper (or board) and markers TIME: 45-60 minutes EXPERIENCE: 1. Divide the class into groups of 3-5 people. Read aloud the paragraph at the top of the “Toys Are Us or Them: Scenario” sheet. Give groups one minute to come up with a name for their toy store. 2. Give a “Toys Are Us or Them” sheet to each group. Allow 15-20 minutes for groups to develop a plan to deal with the new competition. Encourage creativity. 3. Ask the first group to present its plan and record its strategies on the board. When they are finished, invite other participants to discuss the group’s ideas. 4. Repeat the process with the other groups. 5. Ask each group to come up with one other scenario that would create additional competition for their toy store, and write it down. 6. Have groups trade scenarios and develop strategies to address the situation they were given. Allow ~10 minutes to discuss. 7. Invite groups to present their scenarios and solutions. REFLECTION: Debrief the exercise using questions such as: • How do you usually respond to competition? What are some constructive responses for an entrepreneur? • Do you think the ideas presented would actually work? Why or why not? • What do you consider the greatest potential competition for your proposed business? JOURNAL: Describe three situations that would increase competition for your proposed business and list ways you could address each threat. EXPANSION AND APPLICATION: • Actual and potential, direct and indirect competition should be considered before participants decide on a business idea to research and plan.

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