BP Enterprise Trading Challenge
On Tuesday 27th September, Year 8 split down into 45 groups and took part in the BP Enterprise Trading Challenge. Students have been practising in their Maths lessons, learning the basics of trading including understanding supply and demand, how this affected prices, and tips on when to buy and sell.
The Enterprise Trading Challenge involved Year 8 working in groups of up to four, to create an oil company. They had to come up with a team name and assign roles to each member of the team. The teams consisted of one ‘Chair’, who oversaw the decisions made, one ‘Trader’, who was responsible for deciding how many barrels of oil were bought and sold, one ‘Market Analyst’, who looked at the news and decided which way the market was going to go, and one ‘Accountant’, who kept track of the groups finances. They then had to compete against the other companies, buying and selling oil at the market price, to see who could make the most money.
It was fantastic to see Year 8 so involved in the task and being very competitive about their strategy to ensure they made the most profit! After a somewhat cautious start from many groups (not wanting to spend too much money), it was great to see groups taking bigger risks with their money to maximise their profit as the rounds went on. By the end of the 3rd round groups had a big decision to make as the oil prices looked certain to rise: should they buy big and take a gamble now or be more reserved to preserve funds? The cheers could be heard all around the hall from those groups whose gamble paid off when the price rose hugely! Students thoroughly enjoyed the experience and were able to develop their Maths skills in a business and enterprise environment.
The top five teams were:
1st Place: Isobel M, Megan G, Tyler G and Quinn D
2nd Place: Kai C, Tyler H, Elliott J and Joel B
3rd Place: Megan D, James R, Aaliyah W and Ethan B-W
4th Place: Kushla M, Katie W, Courtney N and Millie C
5th Place: Dylan C, Sam B, Richard W and Jay P.
The Apprentice Game
On Tuesday 27th September, Year 7 split down into 45 groups took part in The Apprentice Game in the New Hall. Students have been learning how to play the game in their Maths lessons, working as a team to understand the basics of setting up a company and making profit.
The Apprentice Game involves Year 7 students working in groups of four to market products which cost £20 to manufacture. They had to decide how many of the product they were going to make, how much to spend on advertising and how much to sell their product for. The companies competed against one another to see who could make the biggest profit.
Year 7 thoroughly enjoyed the experience and were very competitive throughout- the buzz around the New Hall was great and the students were highly engaged! There were some excellent strategies employed and the teams really learnt something about the world of business and the importance of managing a budget in order to maximise profit. Some groups started excitedly, quickly pushing their prices up and expenditure down in the hope they would generate a profit. However they quickly realised that this was not to be the case when their products failed to sell! The most successful teams built up their empire slowly, gradually increasing their selling price as well as spending more to advertise their products.
The top five teams were:
1st Place: Pink Fluffy Unicorns- Harrison B, Ollie J, Holly N and Sophie M
2nd Place: ABSJ- Ben R,Samuel B, Aidan R and Jessica H
3rd Place: Fizzy Lips 2- Holly, Jessica H, Kacey S and Aaron T
4th Place: Casioo- Sophie H, Millie W-F, Jack P and Hannah C
5th Place: Mase team- Maxwell H, Aimee A, Eve T and Sophie H
Well done to all who took part!