By Erin Basinski
On Friday 17th February the Year 10 VCE and Year 11 Business Management Students from Epping Secondary College were invited to La Trobe University to take part in the 2017 VCE Business Forum.
The day began in the Szental Lecture Theatre where our students joined other VCE students from Lalor Secondary College, Macleod College and St Helena Secondary College.
The day was then broken into three sessions. Our first session was with Roman Peretiako who is an associate Lecturer of Marketing at La Trobe Business School. We had the opportunity to discuss topics such as; what is Marketing, Market Segmentation and Target Markets. We were given the opportunity to come up with our own business concept and we were asked to consider the Marketing Mix:
- PRODUCT – style, features, quality, brand
- PRICE – How much should a business charge to recover the costs of marketing
- PLACE – How does a consumer obtain the product, physical retailer, online, factory outlet?
- PROMOTION – What methods can be used to get a consumer’s attention, interest and desire?
Our second session was with Simon Crone who is the Manager of Content Development Programs at Chartered Accountants Australia and New Zealand. Mr Crone presented an interesting look at accounting and spoke about the importance of budgeting in the world of business. He too shared personal stories from his own career which demonstrated a strong personal commitment to the local community.
Our final session for the day was with Professor of Practice in Management Janet Rusell, at La Trobe Business School. In this workshop we had an opportunity to take a closer look at the iconic Australian juice brand, “Boost”. The main focus of this workshop was to think about a business concept, its development and its structure. We spoke about the sources of finance to help establish a start-up business, business locations and external factors that businesses need to consider when writing up a business plan.
Overall it was an enjoyable day which allowed us to see the bigger picture as to what our subject Business Management will cover this year. It was exciting to think that this year we will be given the opportunity to formulate our own business ideas and create a business plan with the hope to run our own business later on in the year.
Thank you to Ms Kanisiadis, Ms Hooper and Mrs Clark for organising and attending on the day.