Business Challenge - Fall 2018

REGISTRATION CLOSED!

Area high schools are invited to bring freshmen, sophomore, and junior students in one or two teams of four to six students each to learn about and make decisions that business leaders often face when managing their companies.

There is NO registration cost for you or your students to attend this event AND lunch will be provided courtesy of the Nebraska Council on Economic Education. After you have completed your registration, you will receive a confirmation email from us. Pre-registration will be required, and contestant changes can be made on event day. Deadline for registration will be Friday, September 28th.

Parking information will be available before the day of the event.

Simple. Maximize your profit and have fun!

Each school team will represent their own business. There will be various missions to be completed which represent our concentrations and the core aspects of a business. The school teams’ businesses will all surround the same product which will be revealed during the Introduction on the day of the event. This product will be the common theme for each of the missions (or sessions) they must complete. After the schools have had the opportunity to complete each mission, we will bring all the schools back to the auditorium for ‘You Decide!: Decision Time’ where they will submit all their decisions and we will present each team with a different uncertainty scenario. The team will not be aware of the uncertainty scenario until the day of the event. After lunch, we will grant awards and the Information Technology department will present some cool things going on in their department, such as virtual reality.

Missions are 30 minutes each. The students will rotate through each mission, which will last 30 minutes each. There will be a total of 4 missions for each school to complete which will incorporate making decisions about their business and have a few little competitions with the other teams in their session. Our goal of the day is to keep the students active and learning in a fun environment. Students cannot have their phones out during competitions and in the event rooms. We will provide the technology when it is needed. Information about the app that will be used for making the commercial will be emailed out to teachers in the next few weeks.

Marketing and Forecasting

- Learn about leading economic and industry indicators, use forecasting software and other forecasting methods with the Business Challenge being a decision on a Sales Forecast
- Learn about target markets and recent trends in social media and other advertising venues with the Business Challenge being a decision on an Advertising Strategy

Production Economics and Operations Management

- Learn about economic productivity and be part of an assembly line manufacturing simulation with the Business Challenge being a decision on a Production Process
- Learn about operations management and be part of a merchandise movement simulation with the Business Challenge being a decision on an Inventory Management Strategy

Accounting, Human Resources and Finance

- Learn about financing alternatives and sensitivity analysis using spreadsheets with the Business Challenge being a decision on a Financing Strategy
- Use technology enhancements to help accounting keep track of products and determine if theft is a problem.
- Learn about recent trends in human resource management with the Business Challenge being a decision on a Compensation Package Strategy

Advertising and Commercial Production

- Use technology to create a 45-second commercial advertising the assigned product
- Learn about social responsibility for businesses with the Business Challenge being a decision on a Social Responsibility Initiative

After the teams have completed each of their missions, we will all reconvene in the Gardner Hall Auditorium for the Decision Time. The teams will then have to make all their final decisions based on the activities they completed in each mission. After they’ve submitted their decisions, we will then hand each team an envelope which will contain some unexpected news about their business. The teams will learn about risk management and will brainstorm to figure out a way to maintain their profits gained during their missions.

Lunch will be provided courtesy of the Nebraska Council on Economic Education.

 

Following lunch, we will gather in the Gardner Hall Auditorium. At this time, Wayne State’s Computer Technology and Information Systems Department will share current and future expected technologies as a way to enhance your business. This is where we will also announce the award winners under a wide variety of categories evaluating each team’s performance and one team will be awarded as the overall winner of the Business Challenge Day event.

8:30am – 9:00am
Registration
(Gardner Hall Lobby)

 

9:00am – 9: 10am
Introduction, Challenge Day Setup and Product Reveal!
(Gardner Hall Auditorium)

 

9:15am – 9:45am
Mission I
(Gardner Hall Classrooms)

 

9:50am – 10:20am
Mission II
(Gardner Hall Classrooms)

 

10:25am – 11:00am
Mission III
(Gardner Hall Classrooms)

 

11:05am – 11: 40am
Mission IV
(Gardner Hall Classrooms)

 

11:45pm – 12:45pm
Lunch
(WSC Student Union “upstairs” Cafeteria)

 

12:45pm – 2:00pm
Risk Management Session
Department of Computer Technology & Information
Systems technology demonstrations
“Wayne State College—Our Focus Is Your Future!” Session
Awards Ceremony
(Gardner Hall Auditorium)

If you have any questions or concerns, please contact Dr. Sharon Garvin at [email protected] or Dr. Lindsey Doctorman at [email protected] or via phone at 402-375-7029.