Our Young Enterprise group from The Chase Sixth Form, Malvern, have truly kicked off the year in style! Their registered company, NOVA, has achieved some exceptional results in everything they’ve taken part in.
So, what have they been doing?
On the 23rd November, NOVA competed against 13 other local Young Enterprise businesses in a regional heat of the BASE national business game competition hosted by Worcester Cricket Club.
The competition is funded and organised by the ICAEW (Institute of Chartered Accountants in England and Wales). Aimed at 16-18 year olds, BASE (Business Accounting and Skills Education) links schools, students and employers together in a bid to not only increase awareness of careers in business and finance, but to develop an understanding of the business world.
Taking on the position of ICAEW chartered accountants, the students had just two hours to analyse, discuss and decide on the next steps of a fictional organisation before presenting their ideas to a panel of business professionals.
James Kerry (one of the NOVA team) said: “We quickly decided which route to take and then delegated tasks for members to complete. We had a few small hiccups in the first presentation with some team members a little shaky with nerves, but overall it ran smoothly and we were very happy with our performance.
“We won our category and then presented first in the final round. Thanks to our flawless presentation and business proposal we won the event and qualified for the national finals in Birmingham on 28th June 2012.”
John Palmer (NOVA’s link teacher) said: “They worked exceptionally well as a team to find solutions to the real business issues, and presented their ideas clearly and articulately. The combination of their ability to think on their feet, and provide excellent answers to the questions posed by the judges, was no doubt what put them through to the national finals.”
As if that wasn’t enough…
As soon as the competition was over and celebrations were completed, NOVA was straight back to work preparing for the Christmas fayres they were planning to attend. This is real-life business in action. The team had to use their capital to invest in and purchase goods that they thought they could sell for profit.
NOVA implemented a ‘go big or go home’ strategy and decided to split their resources and stock between two fayres: one at Worcester Cathedral, as part of the Worcester Christmas fayre, and one at Lyttleton Well in Malvern, organised by Malvern St James school.
The strategy certainly paid off
NOVA sold over £600 of calendars and festive items at the two trade fayres in just seven hours. This has not only provided them with valuable business experience, but has also given their company bank account a welcome boost for activities in 2012. Like true professionals, they were still planning for next year while working at the fayres. Team members carried out market research to determine what their next project should be in the New Year.
A big “well done” to NOVA as they’ve worked hard for the success they’ve achieved and watch this space to see how they do in 2012!