31 January 2008
 
TAR College – Grooming Young Entrepreneurs
 
The ACCA Business Game provides an opportunity for young, aspiring entrepreneurs come out and discover their talent in running an enterprise. Recently held at the Penang Branch Campus, the momentous event, a unique collaboration between Tunku Abdul Rahman College and Association of Chartered Certified Accountants (ACCA) had the primary purpose of providing a platform for students to apply the knowledge acquired through their studies in the College to practical, hands-on issues which are closely simulated to real-life business environment that they are likely to encounter in the future.
 
Altogether, there were 30 teams consisting of three hundred students participating in the event. They were given time to prepare their company proposals to be submitted for evaluation before the actual trading day. They submitted their business plans as well as proposed products that their ‘virtual’ companies would be trading. All in all it was a very challenging task for lecturers of the School of Business Studies (SBS) as they spent many days and nights locked in heated debates, slugging it out among each other and trying hard to decide on which team would be selected for the actual trading day. After many rounds of wiles and deliberation, the total number of teams chosen for the trading day was narrowed down to 10. The teams selected were LoveBite, Serveyou.com, Hotmeal, Emore, Deal Square, O & O, Sweet Memories, Fire Ice, E-Game and Cottage Diaries.
 
Before the commencement of actual trading, the ten teams were sent to attend a series of grueling workshops that were meant to mold, carve and fashion them into proper and convincing business people. The workshops organized and conducted by lecturers and trainers from SBS taught participants the art of developing good presentation skills, superior report writing skills, accounting abilities, marketing eloquence, leadership qualities and many more. It was later proven that the workshop truly benefited the participants.
 
Trading began on October 8 and it lasted for four days. The 10 virtual companies undertook various business activities such as selling fashion accessories, computer gadgets, food and beverages. Following closely to what they have been taught during their classes, the members of the 10 virtual companies knew very well not to concentrate solely on one product. This would not be prudent practice which is why perpetually all of them sold secondary and tertiary goods.
 
Towards the end of each trading day, the 10 teams would usually be involved in a price war with each side striving to out do the other by roaring out bargains using loud hailers and slashing down prices to minimum levels in an effort to clear off their stock. Despite the stiff and intense competition among the ten companies, it was obvious that many of the participants reaped bountiful returns albeit somewhat at the expense of the pockets of the staff and their college mates.
 
Handling objections is also part of the learning experience in the selling process.
 
Amidst all the fun and excitement, it was also a very serious affair as each team was judged stringently on various criteria to ensure that the winning team was truly worthy of the prestigious award presented by ACCA. Teams were evaluated based on their ability to keep a set of systematic and proper accounting records, apply appropriate and pertinent marketing strategies, employ apt economic knowledge, practise suitable management skills and also be able to administer and motivate the human element of the virtual company. The final analysis of the judges on the 10 teams was based on profitability, creativity of business proposal, completeness of accounting records and formal presentation.
 
At the end of the competition, winners expressed their delight that they were given this invaluable opportunity in the game whereby they gained early exposure to the business world. When interviewed on their success, Lim Oon Peng, a student from the Diploma in Business Studies (Marketing) said, “The Business Game certainly gave me a whole lot of ideas and confidence. The game helped me visualize the concepts of business theories that I have learnt in the classroom environment”.
 
Another participant from the Diploma in Business Studies (Accounting) also echoed Oon Peng’s comment. “We have gained important lessons in life that you can never find in textbooks. We deeply appreciate the effort that was put in to equip us with the necessary soft skills”, said Wilson Chew, the leader of his victorious team.
 
Looking all charged-up after a very successful and action-packed week-long entrepreneurial experience.
 
Interested to gain industry-related experience on top of your studies? To find out more, come and visit us at TAR College during our Open Day at all campuses from the 7 to the 23 March, from 9am to 5 pm. Application forms for the May intake are already available at all campuses as well as online.
 
For more information, please contact the College at the following numbers: 03-41450123/0100 (KL Main Campus), 04-8995230 (Penang Branch Campus), 05-4660388 (Perak Branch Campus), 07-9270801 (Johor Branch Campus), 09-2314185 (Pahang Branch Campus) and 088-718481/2 (Sabah Branch Campus), or visit the College website at www.tarc.edu.my.
 
 
 
 
For more information, please contact:
 
Ms Christina Lee Mae Fah
Assistant Registrar
Department of Development and External Relations
(03) 4145-0100/23 ext 478
leemf@mail.tarc.edu.my
 
Mr Aaron Chan Jin Ho
Manager
Communications & Marketing Department of Development and External Relations
(03) 4145-0100/23 ext 479
chanjh@mail.tarc.edu.my