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Unit 10 ~ Mini Challenge B 10.1a – Managing the debt

Unit 10 ~ Mini Challenge B 10.1a – Managing the debt. The Ruin. Although your School/College/Educational institution has now selected its best option for ‘The Ruin’, it will take time to draw up plans, consult architects, the bank and builders.

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Unit 10 ~ Mini Challenge B 10.1a – Managing the debt

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  1. Unit 10 ~ Mini Challenge B 10.1a– Managing the debt

  2. The Ruin Although your School/College/Educational institution has now selected its best option for ‘The Ruin’, it will take time to draw up plans, consult architects, the bank and builders. In the meantime, ‘The Ruin’ is running up huge debts.

  3. What debt? Simply paying gas, electricity, water, council tax, insurances, sewerage and minor maintenance is costing £1000 per month. Your School/College/Educational institution is looking for a quick fix.

  4. Quick Fix? They need you to come up with an idea that will generate a lot of money in a short space of time (3 weeks) in order to address these debts and to help fund the new project.

  5. Open to ideas…. There is very little money to fund this quick fix. Your School/College/Educational institution is prepared to provide 10% of your anticipated return. This means if you think your idea will make a sales revenue (price x quantity) of £1000, they will give you £100 to run the idea.

  6. What do you need to do 1. Decide on an idea that is likely to make the most sales revenue. 2. Calculate your likely sales revenue (numbers of likely customers x price you will be charging). 3. Calculate how much funding you will receive from your School/College or Educational Institution – remember they will fund 10% of the likely sales revenue. 4. Details concerning how you will spend this 10% in running your idea.

  7. Present your idea and costings Each team will need to present their ideas in whatever format they wish. The most important consideration is to be convincing that your idea is the best; so your presentation (in whatever format) needs to be persuasive.

  8. Catching you out… Once you have finished the presentation of your idea, each of the other teams will be encouraged to ask a question. These questions should try to pick out potential faults in your idea. For example, if one group states they anticipate 1000 customers per day, a potential question could be ‘What evidence do you have that makes you sure of 1000 likely customers per day?’

  9. Thinking on your feet… Your team will have to deal with these questions in the most convincing way possible. Good luck!

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