| The title of the tool | Basket market |
2. The learning objective of the tool | understand that cash flow statement is the most important financial tool for small businesses; appreciate doing cash flow, understand that doing and understanding cash flow is nothing that just must be done or simply is done by an accountant without the entrepreneur looking at it, are able to calculate the different categories of a cash flow, experience the quickly and sometimes unpredictably changing cash situation of an enterprise use cash flow to change management strategies |
3. Target Group | People in NEET |
4. Duration of the Tool | 2-3 hours |
5. Preparation (Preparation before the implementation, needed materials etc.) | 1.Materials: For the trainers Instructions handout Events printed out of paper or metaplan cards Goal post (a chair) 1-3 balls Softboards and pins Blind Folds For the participants Marker Pens Flip Chart Paper Sufficient space for the groups to shoot at goal and also work on cashflow statements in individual groups spread across the room 2.Preparation In preparations, the trainer should ensure that copies of handouts (tasks) for each participant, a ball, a basket or a goal, shooting distance market on the floor, 1 cash flow chart prepared for each group are done and ready before the class starts. |
6. Instructions to implement the tool | Use an energizer to form 3-5 groups with each having at least three members. The groups should invent company names. The case study should be simu-lated via role play within 5 to 10 minutes to give a clearer understanding to the partici-pants (Adwoa opens a Chop Bar) Distribute the exercise materi-al (scenario with task 1 and blank cash flow sheet) to the enterprises. Explain that the enterprises should look at the scenario carefully and should fill in the first column (real 0). They should remember the role play just concluded. The trainer and an assis-tant should perform the role play See exercise material called ‘task 1’ (is in the form of a cartoon story mimicking the role play). Let the participants fill in the charts without prior explanation. Let them commit mistakes. These will be discussed in the plenary. Prepare paper stripes with the width of 1 col-umn in the cash flow chart, which participants can use if corrections are needed. Announce that now the Basket Market will start. Have 3 representatives of each company shoot the ball once. Publish results in the scor-ing chart (see instruc-tions). Ask the participants to finish task 2 by calculating the “real” cash flow of 1st month and by revising the forecasts. Define the distance from which to throw / shoot the balls in the basket by fixing a line of masking tape to the ground. Let the companies use the prepared stripes to correct the forecasts. They shall not erase or overwrite. The stripes can then be pinned over the origi-nal calculation. Take care that always the final cash flow from the “real” col-umn is put forward to the “re-al” initial/starting cash column of the following month. Publish results of the company throws in the scor-ing chart. Ask the participants to finish task 4 by calculating the “re-al” cash flow (in-cluding the events!). |
7. Skills – SDGs – Key Competences Chart | SDG 4 – Quality education SDG 8 – Decent work and economic growth SDG 9 – Industry, Innovation and infrastructure SDG 10 –Reduced inequalities |
8. Sum Up / Debriefing / Reflection at the end of the implementation | Present all cash flows at once. Discuss with participants: why did the win-ner win? did all groups adapt their financial management (fore-casts, strategies etc.) to reality properly did loosing com-panies accept conse-quences and leave market refer to specific result on the charts, where companies e.g.: continued claiming to win 2 clients despite dis-astrous shooting perfor-mance ignored foreseeable bankruptcy did not use the cash flow forecast information for strategic changes but rather ignored them or polished them to look better strategies might be: reduce costs increase incentives entice good workers don’t pay sala-ry/owner’s pay to bad management invest into training |
| The trainer should empha-sise: value and limits of forecasting difficulties and ease of cash flow Of course, do this by getting it from participants. Don’t lec-ture necessity of cash flow ability of company to react and adapt strategies cash flow as the most important finan-cial statement cash flow as means for risk aware-ness, early warning system, controlling |
9. Any tips / suggestions to the trainers for the further implementations | |
10. Resources / References | Cash flow |
Chart of the Section 7:
Reinforced skills (Empathy, Communication etc.) | SDGs targeted (SDG4 – Quality in Education etc.) | Erasmus+ Key Competences (Learning to Learn, Social Competences etc.) |
| Problem solving | SDG 4 – Quality education | Learning to learn |
| Developing strategy | SDG 8 – Decent work and economic growth | Sense of Initiative and Entrepreneurship |
| Team work | SDG 9 – Industry, Innovation and infrastructure | Social and Civic Competences |
