This year we have introduced the Tycoon Business Enterprise Competition to our Year 10 to Lower Sixth pupils. So far we have six successful teams competing with schools across the UK, with two of these teams taking First and Second Place on the national leader board.
As part of the competition, the teams have had to develop their own business idea, write a business plan to be assessed by the Peter Jones Foundation, manage their own finances, manufacture and market their products and investigate and run selling events.
Products range from toxin free cleaning products, wellbeing planners, eco-friendly bags, beauty products, jewellery and bubble tea. The students have also been carrying out some excellent charity work to support victims of the Australian bush fire, donating all proceeds from their recent sales of koala bear stickers and kangaroo tote bags, all designed and produced individually.
The teams have been extremely proactive when finding various selling events and have attended a number of School events such as the Christmas Bazaar, numerous Parent Evenings, sports fixtures and tea time slots. With two months to go until their final reports need to be submitted and judged, the teams are still working hard to deliver innovative and quality goods at further events including the School Open Morning and the Junior School Family Fun Day in March.
Throughout the process all members have had specific roles, from leading the team to marketing, operations, finance, digital media and sales. The project is run by the pupils and allows them to develop their organisation, leadership and negotiation skills. It has encouraged them to go outside their comfort zones to achieve their goals.
The competition concludes in April when the teams have the opportunity to present their reports and journey via a video, highlighting their achievements and challenges.
Mrs Cross
Teacher of Economics
