Young Achievement Australia (YAA) Business Skills Program

A group of students from the Centre for Hospitality and Tourism studies are participating in program where they undertake 11 of their units in a truly practical way.

In addition to undertaking their Advanced Diploma in Hospitality Management or their Dual Diploma in Hospitality and Event Management they will also qualify with a Diploma in Applied Design (in Industry).

The students form a practice firm, through the Young Achievement Australia (YAA) Business Skills Program.  They have approximately 22 weeks to do ‘everything a real business does’, before going into voluntary liquidation in October.  The style of delivery is a complete departure from the traditional method of theory classes delivered in separate 2.5–3-hour timeslots.

The students choose and register their company name, sell $2 shares to raise $500 start up capital, set up a bank account, approach companies for sponsorship, vote or nominate for leadership positions, design a product, conduct market research into their product, manufacture their product, write a business plan, monitor cash flow, identify target markets, generate media releases, develop rosters, track sales forecasts, manage stock control, sell the product, review marketing strategies, identify the break-even point, prepare profit and loss statements, write an annual report and distribute profits to their shareholders.

Theoretical concepts (such as budgeting, writing a media release, preparing a profit and loss statement) can be covered very competently in a traditional classroom. However, the practice firm allows students to trial their management skills; tasks such as meaningfully analysing and interpreting financial information, delegating and leading a team of employees with varying abilities and levels of commitment.

While the students will have passed their units in a more meaningful way they will also develop the key employability skills or soft skills of team work, problem solving, time management, analysis of information, and the ability to learn and use mathematical analysis.

Students have the opportunity to apply for Business Person of the Year.

2005

Several students in Booya, the 2005 group, applied and one made it to the Finals of the Victorian Section. Potential employers commented on this achievement when she was later being interviewed for full-time jobs.

Ya-nique (2006)

In 2006, Sam Powell, Managing Director of Ya-nique, was awarded Victorian Business Person of the Year. All of the other 9 competitors were from universities.

The Diploma of Applied Design (in Industry) was trialled in 2006 as a way to improve the actual product. This resulted in Ya-nique winning Most Innovative Product at the State Awards Dinner in October.

Feedback from other students was that it was fun, they made lots of great friendships, discovered skills that they didn’t realise they had and had the chance to re-discover areas they had forgotten about — such as designing and being creative, important skills for Event Management and when reviewing your product/packaging.

aliyas (2007)

This year's group is aliyas. Their product, Precious Drop, is designed to save water in the shower.

More information

Further information about the Young Achievement Australia’s Business Skills Program at Box Hill Institute can be obtained from Sue Blair on 9286 9542.

We are actively seeking additional sponsors and mentors for the 2007 program, and are confident it will be a dynamic challenge.