This week Form 6 Business students took part in an activity known as ‘The Trading Hour’ and raised over £300 for the charity Young Minds.
In teams, students decided upon which products to sell, made up their business plans including budgeting and forecasting and carried out promotional activities. They then had one hour to sell their items to middle and upper school students (and some staff).
The products on sale comprised of bracelets, pens and one group sold lottery tickets with the prize of a Domino Pizza for the winning ticket. Two teams also chose to sell chargers and earphones and were therefore in direct competition with each other.
The competition was very close but the most successful team was ‘Prestige Worldwide’ selling friendship bracelets raising a total profit of £92.25 with a GPM of 84%.
The runner up was team ‘BTEC Sales’ selling chargers & earphones with a total profit of £83.14 (GPM of 38%).
Mr Jeremy Rowe, Head of Business said, “The winners had a simple idea, which was well executed. Everyone involved thoroughly enjoyed the task and it was an ideal opportunity to learn what Business is about and to test real-life commercial skills. The students raised a considerable sum for charity, which helped them understand the concept of corporate social responsibility".
The Business department at Oakham draws on many different real world examples in its teaching and uses a variety of resources, to enliven and demonstrate the subject.