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

Introduction
Learning
Exercise
Numbers
Feedback
Agenda

 Senior Lecturer at University of Chichester
 Previously Enterprise & Employability Lecturer
at University of Central Lancashire
 Marketing Consultant & Agency Principal
 Start up & new business experience
 Business Link Northwest & DTI
 Delivered 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 cinemas
Film Art, Hong Kong
Challenges with students
Wide appeal
Experiential
Something familiar & exciting
The idea

Creative thinking
Problem solving
Business planning & analysis
Team working
Financial considerations & calculations
Sales forecasting
Product development
Marketing
Session aims
Employability Framework
University 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 projections
Angeline 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 sales
Drinks
Programme
Sponsorship
Time provided for wider workshop discussion
Revenue
Image: http://www.iflickz.com

Specific cost for some aspects provided including
for a projectionist
Figures provide with enough scope to question
these and consider viability and alternatives
Some costings are deliberately missing to encourage
group discussion and bring in prior learning from
the module
Simple 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 hosting
Look 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 costs
Consider new creative ways to add more
value and increase revenue streams and
indeed increase profitability
Examples of real life consultancy brought in
to evidence this further and make relevant
to variety of disciplines
Option 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 resources
Look at instructions & evidence in detail
Concepts using scenario make more sense
Starting a business is complex
Feedback
Engaging learning environment
Using a range of skills
Bringing all knowledge together
Broad range of thinking
Reflect on own business proposal!
Importance of finance
Thinking about forecasting sales
Strategies on managing profit
Never give anything away for free!

Simplify: Focus only on ideas creation & discussion
Tick toc: Set time pressured limits on tasks
More of: Critically evaluate actual materials
Add in: Storyboarding a newspaper or radio advert
Location: Run the session on location
Research: Competition
Increase: Sales forecast & scenario planning
Pitching: Incorporate a formal business pitch
Consult: 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 advert
Run the session on location
Critically evaluate actual materials
Annual sales forecast & scenario planning
Feedback
Research competitors
Acquire costings
Mini consultation sessions
Pitch to the board
Reflective element
Focus only on ideas creation & discussion
Simple revenue and costings
Set time pressured limits on tasks
© All Rights Reserved, Lionel Bunting, 2016 Image: marathalbt.wordpress.com/2014/10/14/fin/

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