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Monday, 16 July 2007 |
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Dr. Jim Rex, South Carolina Superintendent of Education, addressed some students at South Carolina Business Week, a program available to rising high school juniors and seniors.
By Kristen Poland
CLINTON — As co-owners of a business, Laurice Ingram and his colleagues thought selling at high volumes and low cost would propel them ahead of their competition.
They developed a strategy based around that premise and moved forward with their strong sales pitch and low-dollar product. In doing so, other aspects of their business crumbled and they failed to meet their goal at the end of the term.
Fortunately, Ingram and his colleagues are high school students and their business is part of a computer simulation that allows students to go through all the motions of running a business—from marketing to production to human resources.
The mock-company simulation is the heart of South Carolina Business Week, a program available to rising high school juniors and seniors. The program, which is in its 25th year, last week hosted 160 high school students from around the state. Students selected to participate in the program spent a week at Presbyterian College in Clinton.
In addition to the computer simulation, they attend workshops lead by top executives from South Carolina companies. In addition to learning about things like entrepreneurship, ethics in business and understanding the stock market, the students also gain experience in public speaking, teamwork, leadership and other important life skills.
“This is a very fast-paced, intensive program where we try to give the students the whole feel of running a business during the first one or two years of startup, from purchasing raw materials to hiring employees,” said Andi Gougarti, public policy and events coordinator for the S.C. Chamber of Commerce.
Groups of 10 to 12 form mock companies and rotate heading up the various divisions of the company, including marketing and finances. The business professionals act as advisers, but the students make all their own decisions regarding the company. At the end of the week, a winner is declared based on overall success of the company.
When the strategy Ingram and his colleagues took last year didn’t produce a victory, Ingram examined the flaws in the strategy and returned this year with a more balanced approach.
“I used to think business was all about sales, but now I know that it’s about balancing everything—your finances, liabilities, sales—everything,” said Ingram, a rising junior at Lancaster High School. “You can’t focus just on one aspect, or the other aspects fall apart.”
Ingram’s seasoned approach to the program paid off big time as his company won this year’s competition. While Ingram plans to pursue a career in the medical field, not business, he said the skills he’s learned during this week were invaluable.
“This program teaches you more than just about business,” Ingram said. “You need all these skills in order to keep your life in balance.”
Stephanie Leguizamon, a rising senior at Wagener-Salley High School in Wagener, plans to pursue a career in theater and arts management. For her, Business Week helped her acquire and enhance skills she believes she will use in both her professional and personal life.
“I learned a number of skills I know I will use in my future,” Leguizamon said. “Not only do I have a better business sense but I also learned personal skills, like personal finance. I just feel like I have a better dense of direction into what I’m doing.”
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