Students at Nenegate School from year 7 through to year 11 took part in the Duck Enterprise Challenge where the aim was to run a virtual business in teams and create origami ducks which could then be sold to a team of buyers.
Using skills that you would find in the business world the teams, which had appointed their own manager, sales exec and buyer, had to source stock material from the shop using a start up loan. Once they had bought the raw materials they then set up production and created the ducks.
A team of volunteers from HMRC acted as the buyers of the ducks and negotiations got underway! More money was paid for excellent and original ducks whilst less for poor quality. Volunteers from Travelex acted as accountants for each team and kept track of the cash flow and profit being made, and made sure all staff were paid and loans paid off.
The Creative Content Company looked after the shop and dealt with the teams buyers for raw materials.
The event was a huge success and the students all really engaged and interacted with the actual business volunteers. Tim from HMRC said “My team really enjoyed ourselves and we all thought the children interacted well with us”
There was even singing from some teams (and teachers) as they tried boost their virtual business profile and gain more profit. It was a close competition with all the teams making large profits and the students gaining confidence and using skills they might not realise they have.