Enterprise Project
Published on 26/09/17
Year 8 students have been honing their entrepreneurial flair through a fun business skills game called 'Bag it' as part of their economics lessons.
On Friday 15 September Year 8 took part in a business game called 'Bag it'. Students were put into groups of eight and formed companies to design, make and sell party bags.
We were delighted to have members of the 6th Form International Baccalaureate (IB) Economics group to help with the session. The Lower 6th students took on the roles of buyers, sellers and accountants to make sure the event was as realistic as possible.
In the morning, students had some training on the game to help them understand some of the complexities of running a business such as how to keep costs down so that eventually a good profit is achieved. Students also did some work on the manufacturing process looking particularly at the JIT principle (Just In Time) when it is applied to a production line.
The students enjoyed a very intensive afternoon, managing four financial years (each year condensed into half an hour), some companies finding it very hard to make bags of a sufficient quality and quantity to make enough money to even cover running costs.