Count Your 'Kents!'
December 03, 2019 at 1:07 PM
The world has seen the rise of ‘bitcoins’ and ‘cryptocurrencies’ but are they ready for ‘Kents?’ The speed of trading in the Senior School quad today suggested exchanging your dollars for ‘Kents’ – a mix of specially designed paper money and ‘minted’ clay coins – could reap returns! Although the ‘coins’ could take up a fair bit of room in your pocket!
The upper end of the Boys’ School campus was abuzz as the boys manned their stalls and got trading underway at the Year 7 Market Day; the culmination of a term-long Social Studies unit on ‘Enterprise: Building and Running a Small Business.’
Working in small groups, which included a nominated CEO, accountant, marketer and designer, they were responsible for the launch of their business from product conception to retail. Each group was required to develop a detailed business plan that included market research to determine the purpose and viability of their product, development of a prototype, the working out of a suitable marketing plan, ensuring they were on budget, fine-tuning mass production and finally preparing to sell their goods.
And so it was down to trading - the students had two hours to tout their wares to the younger students, staff and parents. The more vociferous students quickly learned that in a crowded marketplace, if you want to move your goods, you have to make yourself heard and engage with your customers! As the tactic caught on, a frenzied sale period got underway, with the ‘accountants’ keeping tally of their float and keeping watch on sales. Quick to attract attention was a tee shirt stall which ‘moved’ 88 units in record time at 7 Kents apiece. What if they had sold it for 8, or even 10, would they have sold as many?
When trading finished, the students had learnt how to work co-operatively to operate a budget, considered the economics of how to allocate their time and use their ‘Kents,’ wiselhad developed their communication skills and applied all of these into a cohesive business plan!
Note: All boys and staff were in ‘mufti’ today as a fundraiser for Christmas Hampers for a school the Boys’ School supports.
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