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Student Entrepreneurship Program
The Management of Omotayo Schools appreciates the importance of financial freedom even as students are trained for academic Excellence. Therefore as part of summer school, we had our Business Summit Assessment yesterday 4th September, 2018.
Date Thursday, October 04, 2018
Category: Public
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The Management of Omotayo Schools appreciates the importance of financial freedom even as students are trained for academic Excellence. Therefore as part of summer school, we had our Business Summit Assessment yesterday 4th September, 2018. You will recall our chairman Otunba Engr. Tayo Opanubi JP gave a thought provoking lecture on Learning Financial Management Early in Life precisely on Wednesday August 15, 2018, subsequent upon which three teams were set up to apply the learnings from the lecture. Each team was given n10,000 to trade with.
At the business summit assessment yesterday, the 3 teams presented their strategies, business ideas, trading and business outcomes.
Team A
1. Carried out business in Zobo drinks and other edibles snacks which involved Planning, production, marketing and finance.
2. At the end of business, team A made N 12,375, resulting in profit of 23.75℅.
Team B
1. Carried out soft loan business at an interest rate of 10℅.
2. Was also engaged in marketing of edibles and was very clever to recycle the profit for the chin chin business.
3. At the end of the business, Team B made n13,260, resulting in profit of 32.60℅.
Team C
1. Though did not start up on time but had a more pragmatic approach and strategic thinking to their venture.
2. They went into the merchandising of yam and made huge profit from it.
3. Made additional profit from Zobo and groundnut.
4. At the end of the day, Team C made N14,760 resulting in profit of 47.60℅.
Conclusion
The chairman appreciated the teams and commended them for job well done as the exposure spurred wonderful financial thought processing in both students and teachers in the school. He was happy that the objective of the lecture was fully achieved. In appreciation, he returned the profit and added #5,000 each to the teams in addition to their profits for distribution among group members. See pictures
Regards
Mr. Tayo J
Manager.
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