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The programme allows some members of the upper school to engage in setting up and running a business. Those involved are required to register as a company and design and produce a product which is then sold, hopefully for a profit. The profit motive,
although assuming importance in the company, is not the main objective of the programme. Of more importance in the programme are the processes, which members of the company go through and each individual's part played in the process. From the 'birth' of the company and raising capital through shares, to the design of the product, day to day running of operations, through to the marketing of their idea to final winding up of the company, each member has to play a significant part to ensure success.
At inception the company organised itself into departments with each member having a particular responsibility. A Managing Director was elected along with a Company Secretary. The departments included Human Resources, Marketing, Finance, Sales and Operations and each member was assigned to a post. The team was picked. This done the ensuing months saw arguments, discussions, negotiations, delegation and organising, standpoints being taken and then subsequent repositioning on consideration of other facts/peoples points of view; in short, everything
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that goes on in a business.
The following is the Managing Director's summary of the company's progress over the period:
Our first task was to name the company and after much discussion settled on 7 even. Next came the moment of having to decide on a product. Reaching agreement here was much harder. So much 'shooting down' ideas and too many fragmented inputs highlighted just how we, as a team, had not 'gelled together' at this point. We realised this and decided that we must work well as a team, with positive attitudes, if this company was going to succeed. The idea of personalised pint glosses found favour and on the back of this we were to set about making our fortune.
We conducted market research which suggested that we had found a sound product. This gave us an added incentive to put a bit more effort into our idea. On top
of this, as a group, we had become more comfortable with each other. By Spring we ran into problems. It would seem the demands of running the company combined with the lack of sales activity, along with the high cost of production had had a demoralising effect. What were we to do now?
At successive meetings it emerged that what was needed was a repositioning of our ideas.
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A relaunch!! Yes, that was the answer. Keeping the basis of our product (using pint glasses) we set about turning them into ornaments. Mothers Day was approaching which would provide an ideal market. That very night we produced prototypes: with renewed belief and enthusiasm massive sales were to be realised. In fact, we made more in 1 week selling these than we did in 4 months selling the other product.
We have now some £345.00 to distribute between ourselves and the shareholders of the company. This represents a 57% profit on all activities engaged in.
Over the past few months we have learned how difficult it is to run a company successfully. We have experienced high and
low points. We have learned how to work as a team and the value of this.
I hope that Young Enterprise will continue in the future, as it is a great experience. I would like to take this opportunity to thank the Link Teacher (Mr Wright) and the Link Advisors Karen McTaggart Forth Valley EBP and Alan Thomson and Simon White from Scottish Amicable as they gave us guidance throughout the year.
Laura Dunnachie (Managing Director)
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