|The Big Business Challenge 2009|
The Big Business Challenge 2009 was a great success, with the Legal Eagles, a team of second year law students, clinching the top prize of ¬£500. On the first day, the¬†six enterprising teams were asked to come up with a new outlet for the union, and expand this idea with financial information to back up their plans, as well as a logo and poster designs. Despite three of the teams opting for the same idea, a fancy dress shop, each of the teams came up with their own unique ideas about the design and locations of the stores, as well as the type of stock kept.¬† Other ideas included a sports shop, a manicure parlour and a cook-it-yourself restaurant (courtesy of the society's very own Gherkin team).
The judges were blown away by the quality of each team's presentation, but it was the Legal Eagles, with their calm and cool presentation style, smart attire and well backed-up business plan that stole the show.
The second day saw the teams face the altogether harder task of putting together a business plan for Yalp, the mango lassi drinks company co-owned by Laurence Nair-Price, friend of the society.¬† The teams were informed of Yalp's current position on the market, and the image it was trying to portray, and with that information they had to develop both a short term plan for the next six months of the business, followed by a two year strategy where the teams could choose to develop new product lines, take the drink abroad etc.
The teams were given a surprise just before the judging of the second day activities, when it was revealed that Laurence Nair-Price would be one of the judges!¬† With the added pressure of having to pitch a business plan to the founder of the company itself, the teams again performed well.¬† Instead of creativity, the judges were this time looking for viability, originality and a¬†good presentation style.¬† Again it was the Legal Eagles that showed their class, coming up with a well thought out strategy, where every detail was backed up by sound market research or financial information.
At the Faversham after the event, Pro-vice Chancellor for Enterprise Richard Williams presented the Legal Eagles with the trophy for their achievements.¬† In second place came The Apprentices, with the aptly named Underdogs, who were a man short on the second day, scraping in at third.
The event was thoroughly enjoyed by all that took part, and we are looking forward to holding more events like it in the future.¬† Thanks to all that took part!