Final year business students from South West College studying BTEC Level 3 Diploma in Business completed their final pitches last week in front of a panel of ‘Dragons’.
A Dragons’ Den simulated task was the concluding element of a yearlong project that required them to develop individual business ideas, conduct market research, and compose financial forecasts. The project was incorporated into the curriculum by the tutors who designed specific module assessments around the different elements of the project. Undertaking Market Research, compiling and interpreting Financial Forecasts and delivering a three minute presentation outlining the fundamental elements of their business in the hope of securing investment from a potential investor.
Reflecting on the experience, students outlined what they learned from the process. Lorcan O’Brien described how the task gave him “the opportunity to visualise the consequences and potential profits that could be obtained from running my own business”. Lorcan’s business idea focused on supplying customised football boots for sporting professionals. Lorcan has applied to Ulster University to study an Accounting Degree. Paul Irvine emphasised “the value of this experience in boosting my confidence in developing my presentation skills both professionally and personally.” Paul believes this will benefit him in his further study and career in business. Paul has applied to study Foundation Degree in Business Management at South West College. Adam Monaghan highlighted that “the fundamental part for me, was developing an idea that was ready to present to the bank to seek finance and start trading”. Adam’s business proposal has been forwarded as part of an Erasmus funded initiative where it will be assessed for potential development and realisation, in partnership with a similar European trading business. Adam has also applied to continue studying a Foundation Degree in Business Management at South West College.
Gabriel Keown, course co-ordinator for BTEC Level 3 Business Diploma stated that the “project engenders the spirit of entrepreneurship and business world realism into the delivery of the Level 3 business curriculum at South West College. Students have spent the past academic year drafting a business plan and actively working to produce a document which is a formal written expression of their entrepreneurial vision. At the heart of the Level 3 Business curriculum is a focus on developing talent in becoming a goal orientated problem solver, and equipping and preparing students for the world of work, for University, or for other Higher Education opportunities”.