Brisbane Girls Grammar School Gazette, Issue 2 2022

ECOMAN Program

Where the classroom meets corporate life

Written by Jessica Wacker (11E) and Isabella Labagnara (11H)

Earlier this year, Year 11 Economics and Accounting students from Girls Grammar and Brisbane Grammar School (BGS) were afforded the opportunity to hone their entrepreneurial skills by participating in the Queensland Private Enterprise Centre (QPEC) ECOMAN challenge. An extension of the ECOMAN program that derives its name from ‘ECOnomic MANagement’, the challenge is a business simulation program which aims to familiarise students with the commercial realities of operating a business. ECOMAN is delivered by QPEC, a non-profit organisation run by prominent business leaders to educate teachers and students about the constantly changing Australian economy and the central role and contribution of enterprise in our society. BGGS Economics students were lucky enough to complete the ECOMAN program as part of the Year 10 curriculum in 2021, and overwhelmingly we found it to be an educational and enjoyable experience.

The Year 11 team who participated in the 2022 QPEC ECOMAN challenge

Jessica Wacker (11E) and Isabella Labagnara (11H)

For this year’s ECOMAN Challenge, 12 students from each school were hosted for two days in a genuine business setting and were able to experience the day-to-day life of a corporate employee. Teams were mixed between both schools, with each attempting to secure the highest share price for their hypothetical company after four years of trading. Each team’s company was a manufacturer of coffee machines and students were required to assume the roles of CEO, Finance Director, Human Resources Director, Production Director, and Sales Director. Companies needed to make decisions relating to matters such as demand for the product, production output, sales and marketing, environmental considerations, training staff and number of personnel—whilst also factoring in budgets, financial statements, dividends paid to shareholders, and bank borrowings.

Towards the end of the second day, each company held an Annual General Meeting to present their successes to their shareholders and share their company’s values and long-term and short-term goals. Each Director presented the business choices and economic outcomes for their respective sectors and answered follow-up questions to further challenge their knowledge.

Using theories and concepts learned in the classroom, we were able to further our understanding through an engaging, hands-on approach working alongside like-minded individuals. We each found the ECOMAN program highly rewarding and enriching, and gained a valuable insight into the realities of the business world.