Lambrick Park students Joey Sigwin

Lambrick’s biz kids second, third in contest

Lambrick teams of marketing and accounting students took second and third place in Junior Achievement B.C.’s Business Challenge

The next Wolf of Wall Street might just come from Lambrick Park Secondary.

Lambrick teams of marketing and accounting students took second and third place in Junior Achievement B.C.’s Business Challenge, a twice-annual competition that sees young business minds manage virtual companies. The challenge tested their business knowledge in a simulated marketplace, where students from more than 50 high schools across the province strategized to gain market share and financial success.

“You had to make all the decisions that you would make as a real company,” said Jayden Wakeham, whose team DJ. H – with classmates Dylan Price and Harrison Huford – placed third. “We had to make decisions about how much marketing and capital investment to put in. You had to figure out the price of the product you were selling and how many products to produce.”

“The easiest way to make the most amount of profit in our game was to flood the market with as much inventory as possible,” said Dawson Neal of the second place team, Go M’s Go, with classmates Amir Nijjer and Joey Sigwin. “We’d mass produce, sell it at the cheapest price and basically out-inventory the other teams.”

Based on JABC’s Titan business education program, the business challenge taught students how to maximize profits and reduce expenses, as well as lessons involving too much or too little inventory and how to handle unfilled orders. The simulation extended outside of school hours, with the teams executing strategies online before and after classes to stay competitive against other teams in B.C.

Both Lambrick teams advanced from a qualifying round at the end of November to the winners’ round in December, where the teams made their final moves as they vied for the podium. Their planning clearly paid off, as Go M’s Go and DJ. H took second a third, respectively, with Go M’s Go just one point behind the winning North Burnaby Secondary.

“They were ahead for most of the game, and then in the final round, they were worried about too much inventory and kind of dropped their price a little too much, and Burnaby North seized the opportunity,” said teacher Bryan Neal. “In a game where the scores are up to 400 and 500 points, one point is a fraction of a percentage.

“All credit to them – they engaged in the game and learned so much about strategy, and practised hard to get ready for it. It was exciting and fun, and I know the boys are very happy with the outcome.”

jacob.zinn@saanichnews.com

 

 

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Rapid bus system could increase frequency, reliability in Greater Victoria

BC Transit studies methods for improving major routes in Capital Region

It’s showtime: Victoria theatre reopens with new COVID-19 protocols

Capitol 6 theatre and SilverCity Victoria have reopened with limited seating

Victoria Police searching for missing teen

Arianna Mckenzie, 17, last seen July 2

Victoria man collects 28 bags of trash along two-kilometre stretch of highway

20-year-old spent 12 hours collecting garbage near Thetis Lake

13 new B.C. COVID-19 cases, Langley Lodge outbreak ends

Health care outbreaks down to four, 162 cases active

Two injured hikers airlifted from North Vancouver Island Park

Campbell River and Comox Search and Rescue hoist team rescued the injured from Cape Scott Provincial Park

Alberta health minister orders review into response after noose found in hospital in 2016

A piece of rope tied into a noose was found taped to the door of an operating room at the Grande Prairie Hospital in 2016

B.C.’s major rivers surge, sparking flood warnings

A persistent low pressure system over Alberta has led to several days of heavy rain

B.C.’s Indigenous rights law faces 2020 implementation deadline

Pipeline projects carry on as B.C. works on UN goals

‘Mind boggling’: B.C. man $1 million richer after winning Lotto 6/49 a second time

David O’Brien hopes to use his winnings to travel and of course keep playing the lottery

B.C. teacher loses licence after sexual relationships with two recently-graduated students

The teacher won’t be allowed to apply for a teaching certificate until 2035

Lower Mainland teacher facing child pornography charges

Elazar Reshef, 52, has worked in the Delta School District

Most Read