Oakham Business students take part in ‘The Trading Hour’
This week Sixth Formers studying Business took part in an entrepreneurial activity known as ‘The Trading Hour’ and raised more than £200 for the charity YoungMinds.
In teams, pupils 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 pupils (and some staff).
The products on sale included USB cables, scrunchies, lip balms, hairbraids, bouncy balls, etc.
Mr Jeremy Rowe, Head of Business, said, “Overall it was a real success. The pupils learned a great deal about practical business issues such as stock control, location, competition and pricing strategy.” Jeremy continues, “Some groups made money and others lost some – but they discovered that you can learn more from failures as you can from successes. Essentially product choice and supplier issues led to the losses.”
The Business Department at Oakham draws on many different real world examples in its teaching and goes on regular trips to a range of UK businesses to reinforce what has been covered in lessons.