Great teamwork results in successful product launches

23 Oct 2009
Students enrolled in 'Working in Teams' this semester undertook the Young Achievers Australia (YAA) challenge to start companies that resulted in successful product launches. The idea behind the challenge is to give students nearing the completion of their business degree a hands on experience in the challenges and opportunities faced by start-up companies every day. Each group had to set up a full company structure, appointing positions including CEO; Marketing Manager; Production Manager; Sales Manager; HR etc. Company shares had to be sold to give the companies seed money for production costs. Company 'City Appeal' produced environmentally-friendly, reusable calico bags for student use. The bags feature the UQ official logo encouraging students to show their pride in the university they attend. In producing a student saver coupon book, company 'Byable' took into account the financial constraints of university students. Including discounts from local companies enabled a sense of community to develop between the students and providers. Course coordinator Caroline Wong said industry mentors played a major role in the course by providing valuable real-life knowledge to the students throughout semester from areas such as finance, project management, and marketing. "Without our industry mentors, the students would not have achieved the results they did," she said. . "They play such a vital role in guiding the students throughout the whole business process, we are very grateful to them for giving up so much of their valuable time." The students will wind up their companies and give a final report in their last class next week. A thank-you lunch for mentors and supporters will follow the final class.