{"id":212577,"date":"2018-06-28T19:22:24","date_gmt":"2018-06-28T09:22:24","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=212577"},"modified":"2020-07-30T16:14:05","modified_gmt":"2020-07-30T06:14:05","slug":"students-brew-up-boom-businesses","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2018\/06\/28\/students-brew-up-boom-businesses\/","title":{"rendered":"Students Brew Up Boom Businesses"},"content":{"rendered":"
\"\"<\/a>
The fifteen students who took part in this year’s Ecoman challenge at Kingaroy State High School were presented with certificates at the end of the course, then posed for a photo with program facilitators Craig Madsen and Joe Abercrombie from the Queensland Private Enterprise Centre<\/figcaption><\/figure>\n

June 28, 2018<\/strong><\/p>\n

A group of 15 Kingaroy State High School students now know a lot more about running a small business after completing a four-day ECOMAN Program this week.<\/p>\n

The Year 11 and 12 students were divided into four teams and presented with a business scenario: take over a failing coffee machine manufacturing business and turn it around in the space of four years.<\/p>\n

The students had to prepare a business plan, make forward projections, balance quality against input costs, and 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

The four teams – Barista Bros, Creating Heaven, Hype Coffee Co. and The Daily Grind – had to input their decisions into a laptop as they progressed, compressing four years of business trading into four days of school work.<\/p>\n

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

At the end of the four days, the teams presented their results at an AGM to their \u201cshareholders\u201d, who turned out to be invited local businesspeople and parents.<\/p>\n

The four teams competing in the coffee machine marketplace this year all managed to deliver a healthy return to their shareholders despite trading through a \u201crecession\u201d in the third year of their business turn-around, as well as facing down a new competitor in their market.<\/strong><\/p>\n

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

The \u201cshareholders\u201d had the opportunity at the end of each presentation to quiz the students on their marketing plans, labour relations and projected future expansion plans.<\/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 for Holcim, a Swiss-based global building materials and aggregates company, to help train their management staff.<\/p>\n

In Queensland, it is promoted by the Queensland Private Enterprise Centre (QPEC), which is based at Griffith University.<\/p>\n

The Ecoman challenge has been running at Kingaroy State High School since 1995.<\/p>\n

KSHS Principal Ashley Roediger believes it provides students with a unique opportunity to test their understanding of business.<\/p>\n","protected":false},"excerpt":{"rendered":"

A group of 15 Kingaroy State High School students now know a lot more about running a small business after completing a four-day ECOMAN Program this week.<\/p>\n","protected":false},"author":3,"featured_media":212578,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,395],"tags":[35],"yoast_head":"\nStudents Brew Up Boom Businesses - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"A group of 15 Kingaroy State High School students now know a lot more about running a small business after completing a four-day ECOMAN Program this week.\" \/>\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\/2018\/06\/28\/students-brew-up-boom-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Students Brew Up Boom Businesses - 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