Our school organised an event aimed at fostering knowledge of economics and business management. The event featured various activities, including food, fun, fashion, and decor. I participated in the fashion category, where I set up a stall to sell fashion-related items. This experience provided me with valuable insights into how real-world markets operate, particularly how businesses adjust prices based on demand fluctuations. It was a great opportunity to apply and connect the concepts I have learned in both subjects to a practical setting.
- Strand: Creativity
- Location: In school
- Date: 7th January to 31st January
LO 2: Demonstrate that challenges have been undertaken, developing new skills
One of the biggest challenges was understanding consumer demand and adjusting my prices accordingly. At the beginning of the event, I set fixed prices, but as the day progressed, I noticed fluctuations in demand. Some products were selling quickly, while others remained untouched. Leading for me to make changes in my prices accordingly. Another challenge was drawing customers to my stall, as there were multiple vendors competing for attention. Creating an catching display and selling unique products helped in overcoming the challenge. This experience helped me in developing my communication and persuasive skills as to sell my products I had to effectively persuade the customers and draw them towards my stall.
LO 4: Show perseverance and commitment in CAS experience
Participating in my school’s economics and business management event as part of the fashion category required consistent effort and planning. As most of the products were made by me and my team mates so we needed to allocate a lot of time to make them. Long before the event, I had to carefully plan my stall setup, source products, and develop a pricing strategy. This required extensive research on fashion trends, identifying items that would appeal to my target audience. At certain points, sales were slow, which was discouraging. Instead of giving up, I remained persistent by interacting more with potential customers, adjusting pricing, and using creative marketing strategies to increase sales.
LO 5: Demonstrate skills and benefits of working collaboratively
Working with teammates who had different perspectives was challenging, but we managed to discuss and accomplish everything we needed. Collaboration and communication weren’t always easy, yet we made an effort to stay aligned on key aspects such as the product list and pricing. Effective teamwork was essential for the success of our stall and achieving profitability. Despite our differences, we learned to compromise and find common ground, ensuring smooth coordination throughout the event.
All in all, Participating in this event was an enriching experience that allowed me to apply my knowledge of business and economics in a real-world setting while also developing essential skills like teamwork, problem-solving, and adaptability. Despite the challenges of working with diverse perspectives, our commitment to effective communication and collaboration ensured the success of our stall. Being part of the fashion stall at Global Odyssey 5.0 was a valuable learning opportunity and exceptionally fun-filled!
