Students compete in Junior Achievement Titan of Industry Challenge
Wayne County Schools Career Center Business and Marketing Technologies students began competing in the Junior Achievement Titan of Industry Challenge recently. According to the 2011 JA Titan competition overview, “Participating students will take on the role of a corporate business leader by making decisions to steer their business to success.” The competition simulates the four stages of a business cycle, navigating the economy’s turning points.
For the past seven weeks, client associate Nathan Osborn and financial advisor Kyle Adams, of Wells Fargo Advisors in Wooster, have been coaching the students on business decisions. They have discussed pricing scenarios, production activities, designing research and development plans, examining marketing strategies, making capital investments and decisions on charitable giving.
Each session included an online simulation of a virtual company that manufactures a “holo-generator,” a small CD-sized electronic device that would produce 3-D holographic imagery of various media.
The students recently entered the national online competition through Junior Achievement that the Wooster High School team recently won at the state level.
Grouped into two teams of three students each, the career center students went through 10 “quarters” of competition, entering unit prices and reacting to changes in the market and other variables. Both teams also competed against the computer. The teams had three minutes to make the business decisions for each quarter.
Reports were generated showing each team’s performance index, sales, net profit, returned earnings, unit price and their market share. For each quarter, the industry report showed the percentage of change in: their number of total orders, productivity, sales, production costs, employee productivity, capital investments, and economic changes such as prime rate, loan limits and taxes. Each report gave tips to the students on why the numbers were changing, like higher prices discouraging orders.
Students will review their reports and discuss their business strategies later, and hold practice sessions. Osborn and Adams encouraged the students to work as a team, listening to their team members, their advisors and consultants.
The career center winner of the first challenge was the Nor-What team of Sam Young of Norwayne, Breanna Hershberger of Waynedale and Ashlee Rowe of Northwestern. The other team, Woo Inc., included Chris Graves, Brent Meininger and Allyson Kopina, all of Wooster.
In the virtual elimination round, teams could win $1,500 for their school. Round two of the competition begins May 9, and round three, if needed, will start May 19. The national winner will be named the JA Titan of Industry.
According to Mary Lou Lisic, business instructor, Wells Fargo senior vice president Richard W. Niemiec has been a strong supporter of Junior Achievement.
For the past seven weeks, client associate Nathan Osborn and financial advisor Kyle Adams, of Wells Fargo Advisors in Wooster, have been coaching the students on business decisions. They have discussed pricing scenarios, production activities, designing research and development plans, examining marketing strategies, making capital investments and decisions on charitable giving.
Each session included an online simulation of a virtual company that manufactures a “holo-generator,” a small CD-sized electronic device that would produce 3-D holographic imagery of various media.
The students recently entered the national online competition through Junior Achievement that the Wooster High School team recently won at the state level.
Grouped into two teams of three students each, the career center students went through 10 “quarters” of competition, entering unit prices and reacting to changes in the market and other variables. Both teams also competed against the computer. The teams had three minutes to make the business decisions for each quarter.
Reports were generated showing each team’s performance index, sales, net profit, returned earnings, unit price and their market share. For each quarter, the industry report showed the percentage of change in: their number of total orders, productivity, sales, production costs, employee productivity, capital investments, and economic changes such as prime rate, loan limits and taxes. Each report gave tips to the students on why the numbers were changing, like higher prices discouraging orders.
Students will review their reports and discuss their business strategies later, and hold practice sessions. Osborn and Adams encouraged the students to work as a team, listening to their team members, their advisors and consultants.
The career center winner of the first challenge was the Nor-What team of Sam Young of Norwayne, Breanna Hershberger of Waynedale and Ashlee Rowe of Northwestern. The other team, Woo Inc., included Chris Graves, Brent Meininger and Allyson Kopina, all of Wooster.
In the virtual elimination round, teams could win $1,500 for their school. Round two of the competition begins May 9, and round three, if needed, will start May 19. The national winner will be named the JA Titan of Industry.
According to Mary Lou Lisic, business instructor, Wells Fargo senior vice president Richard W. Niemiec has been a strong supporter of Junior Achievement.
Published: April 13, 2011
