{"id":149444,"date":"2016-06-22T23:35:07","date_gmt":"2016-06-22T13:35:07","guid":{"rendered":"http:\/\/southburnett.com.au\/news2\/?p=149444"},"modified":"2020-10-12T13:37:32","modified_gmt":"2020-10-12T03:37:32","slug":"students-profit-from-business-experience","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2016\/06\/22\/students-profit-from-business-experience\/","title":{"rendered":"Students Profit From Business Experience"},"content":{"rendered":"
\"\"<\/a>
Proud dad and local small businessman Allen Christensen with James, from HCM team, and Jenna, from Barista’s Paradise team<\/figcaption><\/figure>\n

June 23, 2016<\/strong><\/p>\n

A bunch of Kingaroy State High School students\u00a0now know a lot more about running a small business – and a fair bit about manufacturing and marketing coffee machines – after completing a three-day ECOMAN Program this week.<\/p>\n

The 17 students from Year 11 and 12 were divided into four teams and presented with a business scenario: Beatin’s Coffee Machines have been on the market for 10 years but sales are falling, costs are rising and dividends are down.<\/p>\n

The students had to prepare a business plan, make forward projections, balance quality against input costs,\u00a0and juggle bank loans, staff numbers, training, marketing and the cost of renewing infrastructure in a bid to turn the business around and keep their shareholders happy.<\/p>\n

The scenario began running on Monday.<\/p>\n

Each team input their decisions into a laptop as they progressed, compressing four years of business trading into three days of school work.<\/p>\n

The business simulation program running on their laptops tossed up different market conditions as time progressed.<\/p>\n

At the end of the three days, the teams presented their results at an AGM to their “shareholders” … invited businesspeople from the Kingaroy community.<\/p>\n

The four teams competing in the coffee machine marketplace were: HCM, Barista’s Paradise, MACC and CM Coast To Coast.<\/p>\n

We’re happy to report that each managed to deliver a healthy return to their shareholders despite trading through a “recession” in the third year of their business turn-around and facing off against a foreign competitor.<\/p>\n

Each had hard decisions to make, cutting staff at one point, selling off old machines, installing new technology and then investing in new staff and training.<\/p>\n

And one team was also shocked when a fire unexpectedly destroyed their “inventory” and they discovered it wasn’t insured due to poor decision-making by the former Beatin’s Coffee Machine directors!<\/p>\n

The “shareholders” had the opportunity at the end of each presentation to quiz the students on their marketing plans, labour relations and projected expansions.<\/p>\n

This enabled the students to explain why they made certain decisions, and how these affected their business outcomes.<\/p>\n

The ECOMAN (ECOnomics MANagement) course was originally developed in Switzerland.<\/p>\n

In Queensland, it is promoted by the Queensland Private Enterprise Centre (QPEC), based at Griffith University, and has been running since 1995.<\/p>\n

\"\"<\/a>
The MACC team trading on Tuesday, from left, Chantelle Law (Year 11), Chelsea Kerr (Year 12), Madelyn Stewart (Year 11) and Andrew Cook (Year 12)<\/figcaption><\/figure>\n
\"\"<\/a>
ECOMAN presenters Joe Abercrombie and Gary Ball, from QPEC (the Queensland Private Enterprise Centre)<\/figcaption><\/figure>\n
\"\"<\/a>
Some of the “shareholders” present … from left, Cr Danita Potter, Kirstie Schumacher (Stanwell), Ken Mills (Ken Mills Toyota) and Todd Fiedler (Fiedler Brothers Plumbing)<\/figcaption><\/figure>\n
\"\"<\/a>
Kingaroy State High School principal Ashley Roediger with Head of Department (Manual Arts and Business) Carmel McKeering<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

A bunch of Kingaroy State High School students now know a lot more about running a small business – and a fair bit about manufacturing and marketing coffee machines – after completing a three-day ECOMAN Program this week.<\/p>\n","protected":false},"author":20,"featured_media":149455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,16,3,395],"tags":[35],"yoast_head":"\nStudents Profit From Business Experience - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2016\/06\/22\/students-profit-from-business-experience\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Students Profit From Business Experience - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"A bunch of Kingaroy State High School students now know a lot more about running a small business - 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