Sixth Form Economists - London Champions!
The ICAEW's National Business Strategy competition is for students in school or college aged 16-19 and the 2015 Competition (London Heat) took place at the Chartered Accountants' Hall, Moorgate. Teams engage in a business challenge designed to demonstrate key entrepreneurial skills by requiring them to solve authentic commercial conundrums.
Taylors' has a good record to defend. Last year, our team won the London Heat. This year the Economics Department sent two teams to the competition and we are proud to say that both performed outstandingly well. The Upper Sixth team, comprising Prahalad Prasad, Anish Kothari, Sajan Shah, Dillon Nathwani, Jay Shah and Rhal Ssan, were runners-up. The Lower Sixth team, comprising Kieran Patel, Danny Capper, Tom Lawrence, Udi Sharma, Rajan Sharma and Paaras Kantaria, repeated last year’s victory by winning the Heat!
The boys had two hours to prepare for a four-minute presentation to the Board of Directors of an imaginary company called Zest. They had to offer financial and business advice on the company’s current and future prospects. Zest markets organic preserves and shellfish with a national distribution network. The boys faced two dilemmas. First, the organic honey provided by one of the company’s suppliers had been contaminated with pesticides.
The boys were required to consider whether the product should be recalled/ rebranded, or whether the embarrassing problem should simply be ignored. The second curveball to which the teams had to respond was the alleged exploitation of migrant workers in the shellfish-harvesting industry. Were they underpaid? What should Zest do about it? The boys had to balance the company’s profit- maximizing objective against the potential damage to its ethical reputation.
Our winning team will compete in the 2015 National Final in Birmingham in June, where they will enjoy a night’s stay at the Hilton with a three-course business networking meal thrown in. Well done to both Taylors’ teams!
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