Mya Quamie
In an effort to equip students with hands-on business skills, the Arthur Lok Jack Global School of Business held its third Secondary School Business Simulation Competition from October 4 to November 6.
The competition saw form five and six students from 35 secondary schools engage with a simulation designed to mimic the complexities of managing a real-life business.
The students, working in teams of five per school, were placed into seven separate “universes” with five schools per universe, where they competed against each other in eight rounds.
They were tested on their ability to manage operating profits, sales revenue, customer demand, investment and expenditure while maintaining their environmental, social and governance (ESG) sustainability reputation.
Arthur Lok Jack’s CEO, Mariano Browne, said the programme was developed to give students business experience that they would not get at school.
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Speaking at the awards ceremony at the school’s Yara Auditorium on November 15, Browne told the students, “We thought that we should develop a mechanism which combines what you do in the classroom with a real-life situation. Because business is not about academics alone, it’s something which is lived, it’s something which is practised. It involves making decisions, making choices and you don’t get that in the classroom.
“So we came up with the idea of using this exercise as a mechanism for making your textbook work…and why is that important? Well, 95 per cent of those who graduate to be involved in other things are going to be involved in business at some stage. Almost everything you do is about business.
“We need to move away from the textbook formulation to the real world…and we brought you as close to the real world as we could.”
Browne told Newsday the simulation was developed by a team in Finland and then adapted to the context of the region’s economy.
“We customised it… it’s a two-country setting and the two countries in this particular instance are Guyana and TT.”
Browne said the simulation came with built-in “complications” that reflected aspects of the current economic situation in both countries including climate concerns.
Couva East Secondary School was the winner of the competition. Naparima College took second place, with Fatima College coming third.
Special mention was given to the fourth-place winner, SWAHA Hindu College.
Accepting the first-place award, Couva East Secondary School student Skye Craig thanked the organisers and gave testimony to the positive impacts of the competition.
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“It brings life to lessons we’ve been learning and brings us closer to our aspirations. Through this competition, we’ve sharpened our communication skills, refined our decision making and truly become a united and efficient team. I might be a little biased, but I can confidently say that each of you is a future leader in the making.”
In addition to prizes such as laptops, tablets and phones, the students on the winning teams also received partial scholarships towards the Bachelor of International Business (BIB) programme at the Arthur Lok Jack Global School of Business.
They will also receive mentorship from the business school’s alumni and participating teachers will be given access to professional development courses.
This post was originally published on here
