Longridge entrepreneurs get BigHandz-on!
On 24th June, young Longridge entrepreneurs travelled to Merchiston to take part in the new ACCA-devised business game, BigHands.biz.
The aim of the exercise was to mimic the real world of business and give students practical hands-on experience of working with cashflow, profit and loss and returns on investment as well as being fun and engaging.
The Longridge team was as follows:
Managing Directors Jamie Faed and Iain Macdonald
Finance Directors John Aynsley and Georgie Otley
Manufacturing Directors Nikki Mills and Ryan Douglas
Sales and Marketing Rebecca Entwistle and Georgie Milne
Environmental Emma Brodie and Johnny Wade
The game was split into two sections - Directors' challenges and the trading game. Operating as a company, the team tackled all the key issues faced by today's businesses, from finance and manufacturing to sales, marketing and the environment. The Directors' challenges determined how much starting capital and further funding each company had at the beginning of the trading ‘year'. Whilst the company had to select their own strategy - risky or safe - external factors were decided by the role of a pair of dice, effectively playing the role of the economy. Extreme dice rolls - 2 and 12 - produced extreme events in the economy. More likely dice rolls - 7 or 8 - reflected balanced events in the economy. As each quarter was played out, the students had to question whether they stuck to the same strategy and how much money they should spend in each quarter.
The winning team was not the team that earned the most profit, but the one that generated most return on their investment! Amidst strong competition, Longridge performed admirably and achieved second place, only narrowly beaten by Mary Erskine's.
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