Financial Literacy through a cinema case study presentation

© All Rights Reserved, Lionel Bunting, 2016

Lights, camera, action!Financial literacy in enterprise education

Lionel Bunting @SussexClimber



IntroductionLearningExerciseNumbersFeedback

Agenda



Senior Lecturer at University of Chichester

Previously Enterprise & Employability Lecturer at University of Central Lancashire

Marketing Consultant & Agency Principal

Start up & new business experienceBusiness Link Northwest & DTIDelivered enterprise programmes in

Sri Lanka and Nigeria for the British Council

Current research: Brand & adventure sport Pinterest & Social Media

Introduction

Image: Lionel Bunting


University Strategy - one of the key priorities

Employability

A focus on employability and enterprise skills will mean our graduates are equipped to thrive in a global economy“ ’’

Introduced real life scenarios and created case studies to develop employability & enterprise skills and learn more interactively


Success of themed film festivals Discussions with independent cinemasFilm Art, Hong KongChallenges with studentsWide appealExperiential Something familiar & exciting

The idea



Creative thinkingProblem solvingBusiness planning & analysis Team workingFinancial considerations & calculationsSales forecastingProduct developmentMarketing

Session aims

Employability FrameworkUniversity of Central Lancashire

The primary focus of the workshop is to develop financial literacy in business enterprise


Students tasked with reporting to the board of directors of the cinema for approval to run this proposed festival.

Key questions for students:What facts do you need to have?What information do you need to launch a new product?What are the benefits for the business?

The business case



Facts & figures

Detailed handout for review and discussion including marketing facts & figures, cinema information, costings & revenue projectionsAngeline Jolie highest paid female A lister #fact

© All Rights Reserved, Lionel Bunting, 2016 Image: www.wallgallery.net


Various sales assumptions are made but allow enough opportunity for them to be challenged

Suggested sales revenue figures provided in format to students to calculate income from:

Ticket salesDrinksProgrammeSponsorship

Time provided for wider workshop discussion

Revenue

Image: http://www.iflickz.com


Specific cost for some aspects provided including for a projectionistFigures provide with enough scope to question these and consider viability and alternativesSome costings are deliberately missing to encourage group discussion and bring in prior learning from the moduleSimple cost sheet given to introduce spreadsheets for financial recording and calculations of income, expenditure, profitability and sales modelling

Costs


Profit or loss?Look at figures to calculate if the event makes a profit or a loss Debate whether the event is worth hostingLook at hidden costs & other business considerations

Biggest grossing film worldwide $2.79bn (plus higher margin than Star Wars)

Image: www.webneel.com



Asked to look back at the event and see where efficiencies and modification can be made to maximise income and/or reduce costsConsider new creative ways to add more value and increase revenue streams and indeed increase profitabilityExamples of real life consultancy brought in to evidence this further and make relevant to variety of disciplinesOption to formalise this and present back

Maximising income

Generated $1.3b tickets & DVD and as much in licencing – translated 41 times and at least 600 products! Image: www.downvids.net© All Rights Reserved, Lionel Bunting, 2016


Making best use of resourcesLook at instructions & evidence in detailConcepts using scenario make more senseStarting a business is complex

Feedback

Engaging learning environmentUsing a range of skillsBringing all knowledge togetherBroad range of thinking

Reflect on own business proposal!

Importance of financeThinking about forecasting salesStrategies on managing profitNever give anything away for free!




Simplify: Focus only on ideas creation & discussion Tick toc: Set time pressured limits on tasksMore of: Critically evaluate actual materialsAdd in: Storyboarding a newspaper or radio advertLocation: Run the session on locationResearch: CompetitionIncrease: Sales forecast & scenario planningPitching: Incorporate a formal business pitchConsult: Bring in Entrepreneurs for ‘mini’

consultations on key discipline areas

Extensions

Flexibility of case study allows for various time constraints plus add or remove activities and skills tasks


Storyboard press, radio or tv advertRun the session on locationCritically evaluate actual materialsAnnual sales forecast & scenario planning

Feedback

Research competitorsAcquire costingsMini consultation sessions Pitch to the boardReflective element

Focus only on ideas creation & discussionSimple revenue and costingsSet time pressured limits on tasks

© All Rights Reserved, Lionel Bunting, 2016 Image: marathalbt.wordpress.com/2014/10/14/fin/

Financial Literacy through a cinema case study presentation

Education

Transcript of Financial Literacy through a cinema case study presentation