(Year 10 Business Studies students were given £10.00 each)
Each student participating in the Tenner Challenge has been given a certificate in recognition of their hard work and participation. This was a very worthwhile educational experience for our Business Studies students.
The students were divided into two groups: Resilience Team made a profit of £124.56 and Sensational Six made a profit of £54.42. Due to the huge difference, the girls of Resilience were given £10.00 each. Amber, the Project Leader of Resilience, constantly pushed the team and her leadership played a key part in them achieving such a good profit.
The two groups have donated a total of £30.00 towards our Year 11 charity – ‘YoungMinds’.
The two groups’ profits will go towards their Business Studies trip to Cadbury World.
Ms S. Atutonu, Head of Business Studies
Team ‘Resilience’: Amber, Aliyah.U, Aliyah P, Laila, Malaika & Zara
Our team Resilience, found the experience of the Tenner Challenge excellent and useful for the future as it gave us insight into the business world. It helped us further develop many of our skills, such as teamwork, time management, quick-thinking and risk-taking.
We achieved an astounding profit of £124.56 considering we did not spend all of our capital. Most of our products sold within the first day which required us to change our initial strategies and obtain more materials in order to create more products. Moreover, we discovered how to use many different business tactics for example how to price, gathering market research, various ways to maximise profit and how to write a realistic business plan.
If we had the privilege to do this challenge again, we would definitely increase the number of products we produced and be more organised as these two factors were the principal reasons that we did not generate as much profit as we could have. However, we thank you for giving us the opportunity to experience what it’s like to be an entrepreneur in the business world.
Team ‘Sensational Six’: Caroline, Nimrah, Lisa, Ayesha, Priya & Zojajah
Our experience of the Tenner Challenge will be a memorable one as we had the opportunity to experience marketing as young girls. During the period of four weeks we were exposed to the various challenging activities within the business industry.
In this challenge we bonded and communicated as we discussed prices of our products, which made team work much enjoyable and easier. We reached out to the customers asking them what their preferences were and this narrowed down our ideas to help us target specific goods. From the Tenner challenge we have obtained the knowledge and have learnt the importance of market research and teamwork and we hope this will aid us in the future.
If we had the chance to do this again we would already have some experience and we would be able to recognise areas that need improvement and attention.