Academic | Posted 27.02.2015

‘Dragon’s Den’ victory for IB Business Management students!

The IB Business Management pupils were delighted to emerge victorious from a Dragons Den competition, run by the Lancashire Young Enterprise Area Board.  The pupils have set up a Social Enterprise company, Ad Maiora, which has been an integral part of the IB Business Management course.  The company, whose mission statement is ‘Great Futures Start Here’, have been working hard on creating a range of products upcycled from old Stonyhurst kilt fabric, which they have been selling.  As a social enterprise company, it is important that they also have a social objective: the pupils aim to use their profits in order to support the improvement of education in developing countries.

The Dragons Den competition, which attracted entries from schools across Lancashire, involved four members  of the team :Lara Schick, Gereon Gaudig, Emily Cafazzo and Marco Troina. They pitched their ideas to four local business people, including presentations of their accounts, marketing ideas, and, of course, the products.  They then faced tough questioning.  The feedback was excellent, with comments including “confident market analysis”, as well as an impressive full marks for their financial analysis!  Their victory is all the more impressive, considering that the team consisted of German and Italian students presenting in English. Enora Le Masne De Chermont, the company’s Financial Director, commented : “Social Enterprise has really helped me improve my financial skills, as I have had to produce all of the accounts and cash flow statements for the business.  I have enjoyed calculating and sharing with the others how much profit we have made after each sales event!”

The Dragons were:

  • Mark Hope, Stonehouse Logic Ltd
  • Bharat Parmar, Asda Stores
  • Helen Shepherd – Pennine Fire and Safety ltd
  • Andrea Smith – South Ribble Borough Council

The whole experience has been a great opportunity for our pupils to learn new skills of enterprise, teamwork and creative thinking, as well as bringing their study of Business Management to life.  They are indebted to Mrs Anderton, who has been hard at work helping them with the manufacture of their product range, as well as New Call Telecom who have been sponsoring the company this year.