York students' business skills put to the test
Posted on 14 June 2011
The events saw students from the York Management School facing tough questions at an IBM-sponsored business idea awards, while members of the University’s York Entrepreneurs Society competed to become York Entrepreneurs Apprentice 2011.
The IBM-sponsored competition involved second-year management students pitching their ideas on how to start and run a successful enterprise as part of an innovative teaching programme. Their business strategy, financial forecasts and funding proposals were put to the ‘dragons’ – leaders from a range of highly successful businesses.
The IBM Dragons’ Den final in the Ron Cooke Hub was the culmination of two semesters’ work on strategy, finance, marketing, management and entrepreneurship. Students were supported by staff from the Centre for Business Collaboration and associates from industry including Davis Langdon, a global management company based in Leeds.
Professor Steven Toms, Head of the Management School, said: “Business teaching at York is not only focused on ensuring students have an in-depth understanding of management theory and processes, but ensures students can adapt this knowledge to the setting up of an actual business and can also demonstrate key businesses skills.”
This business planning module will make these students better employees and for some of them it will have sparked an interest in setting themselves up in business ownership
IBM Executive Director Gerry Riley
IBM Executive Director Gerry Riley, one of three ‘dragons’ at the final, said: “I was seriously impressed. This business planning module will make these students better employees and for some of them it will have sparked an interest in setting themselves up in business ownership – in short, it may have a profound influence on their future careers.”
The winning team was ‘Boxed Promos’ who impressed the dragons with their idea for adverts on pizza boxes.
Selina
Atwal, a member of the winning student team, said: “The business planning module was certainly eye opening. The theories and ideas we had learned about in other modules we actually had to implement for our Business Plan and presentation.
“The academic staff in TYMS were always available to help, and the assistance was unique to each group which was better than just a a generic course. This was combined with insightful information from business people external to the department, which while we didn't always agree with what was said, it nevertheless did help the group to progress. As a module it was a unique way of learning.”
In a separate The Apprentice-style competition, three teams from York Entrepreneurs, a student led enterprise club, battled it out for the title of York Entrepreneurs Apprentice 2011. With around 1,400 members, York Entrepreneurs is the University’s largest society on campus and was the winner of the 2009 International Enterprise Educators Award for student led initiatives.
The competing teams were asked to device advertising and marketing strategies for a product, including creating radio and television adverts. After a week of preparation, they presented their ideas to a panel of five judges, including Stuart Wright, a consultant with Envirovent, with the audience acting as a sixth judge. The winning team – The Three Marketeers and Damien – came away with a cheque for £1,600.
Notes to editors:
- A photo of the winning team from the IBM Dragons' Den is available from the University of York Press Office by contacting pressoffice@york.ac.uk or phoning 01904 322029.
- More information on the York Management School at www.york.ac.uk/manangement.
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