This term, Year 11 Business is investigating the marketing and operation functions during the growth phase of the business lifecycle. Our focus over the next few weeks will be the 4 P’s; product, price, promotion and place. As a starting point with ‘product’ we watched a short video on the development of new flavours for Magnum Ice Creams. The journey takes us from ideation, through R&D labs, pilot batches to production and quality control. A highlight of this journey is doing our own quality control testing!
Primary research plays a big part in the Business IA2 Investigation business report. As part of this, students must complete primary research, ideally in the form of a survey, and utilise it in the nominated analytical tools for the report. Over the past couple of years Business students have been very lucky to have a visit from Research by Design. Sue Holz, Director and Norman Lee, Research Analysist, are passionate about the importance of market research. They will spend a double lesson explaining the different types of market research, discussing question structure, and running students through how to use Survey Monkey.
Year 11 have their first 2-hour 15-minute exam in Week 7 this term so it is important that revision is a journey starting now and not a last-minute rush!
In the final weeks of this semester, twenty Year 11 students across Business, Economics and Accounting can participate in Ecoman. This is a Business simulation that involves concepts covered in each area of study. It is a great opportunity to consolidate learning in a practical way. COVID allowing, the simulation will be run in a boardroom in the CBD!
Year 12 are nearing the end of their school journey and are at the end of the business life cycle where decisions on whether to bow out gracefully, hang on and hope for the best, or invest and renew must be made. We start this unit by talking about long term benefits outweighing short term costs. Relevant in Year 12 on several levels! Currently, we are looking at two key business change management theorists, Lewin and Kotter. Year 12 have worked hard over the past three terms to maximise their marks out of 75 going into the external. Our focus between now and October is academic rigor as we learn and connect two years of growth through the business life cycle.
Year 10 are at the beginning of their journey starting with Business basics. Over coming weeks, the focus will be on the business environments and stakeholders. It is exciting to have two classes moving into senior business. At the end of the semester Year 10 will have a two-hour workshop with a local entrepreneur, Scott Millar. This is a lead into an assessment where students will investigate a business concept they individually develop.
Year 9 Business is GAME ON! As 24 café groups compete over three virtual years. They grow from a start-up café to a chain of five over three virtual years. Good luck to all competitors and please make sure you put considerable thought into your choice of coffee bean!
Georgina Barfoot
Teacher (Business)
