Unit 1/2 Business Management
Business Management students have been learning how to develop a business concept, establish a business and create and market a product. In order for students to apply their knowledge and skills learnt within the classroom, they conducted a market day. During lunch on Wednesday the 15th of May, the students offered four stalls of savoury and sweet goods. The day was fun for all the stall holders, however there was a lot of work that had to take place beforehand.
The students established partnerships and together decided on the product or goods they wished to sell: created a business plan, conducted market research and began to advertise with posters and announcements. On the day of the market there was apprehension, what if no one wanted the goods they had to sell? They needn’t have worried, there were customers and the students actively competed for the customers’ dollars. After the market the businesses had to determine proﬁt or loss and evaluate how their business performed.
While making a profit wasn’t the most important outcome of the market, all groups did make a profit, which was gratifying for students. The students generously donated their profits to FightMND, to assist the research into finding effective treatments and ultimately a cure for Motor Neurone Disease.
A total of $143.70 was donated to FightMND by the 1/2 Business Management class.