Last week at punker was all about headphones. In a week long business simulation game, students from 10th grade were assigned the task of running four virtual headphone companies which they named “BUZZ”, “EcutECK”, “Silence” and “QH Soundz”. Each company was represented by a team of 5 to 6 students who were assigned roles of CEO (Chief Executive Officer), CFO (Chief Financial Officer), CCO (Chief Communications Officer), CMO (Chief Marketing Officer) and CHRO (Chief Human Resources Officer). And punker was happy to share their business premises with these “Executive Boards”.
During each of the 6 “business years”, the Junior Executives had to make up to 37 decisions towards various aspects of managing a business, such as:
- Production operations
- Research & Development
- Corporate Social Responsibility
- Upgrading plants and expanding capacity
- Worker compensation and training
- Financing of company operations and investments
- Pricing and marketing
To help prepare the students for their challenging tasks, punker employees presented their scope of responsibilities and explained how far-reaching management decisions are being made at punker.
The students realized quickly that being an Chief Executive means long working hours, a lot of negotiating and persuading and making decisions that affect one another. It also involves a lot of creativity, though. For example in developing a marketing strategy to define how the company should position itself compared to the competition and to define the marketing-mix. The students came up with a lot more than that: individual company logos were being designed, advertising slogans texted, tv commercials performed and sponsoring ideas developed.