Australian Business Week Tutorials
Before I begin, I just want to say this is an unofficial set of videos that we made. We did it because we really like Australian Business Week (ABW) and think that it is teaching our school children some invaluable business skills.
I’m a volunteer each year and help with the mentoring aspect of the program. It is a great opportunity as a business owner to help students understand business, and to potentially help some of them in their career choice.
At the same time, ABW pretty much drops them in the deep end with a manual that is technically correct, but only if you know what you are doing. These videos are my attempt to bridge the gap by providing an overview and highlighting what is worth focusing on.
What is Australian Business Week? What will we be doing this week? Why are we in teams? How do I win?
Simulator Overview and Round 1
The hardest part of ABW to understand is the simulator. Students only have a couple of hours to make some critical business decisions. This video provides an overview of the business, the key decisions and tips on how to win.
Watch this video before starting.
Understanding the reports
After each quarter you are given a report as to how you have performed. These are serious reports and most business owners would stare at them blankly.
This video tells you what is critical to understand for the first couple of quarters, and what to do to fix some problems.
Simulator Part 2
This video continues to explore the next level of complexity in ABW.
The first video basically said “just make some bikes”. Now we need to look at some of the challenges you will face as the game progresses.
Remember these videos are a bridge to help you be able to read the manuals. This is “big picture” information to get your started.
Writing a mission statement
I’m biased. In case you miss it, I don’t like the sample mission statement.
This is my recommendation on how to write a mission statement.
What type of company would you be keen and excited to work for?
And my final 7 tips
In case you make it this far and haven’t watched the videos, or you just want a quick recap, here are my top tips and reminders
1. There are multiple competitions all happening at once, and you will split your team.
2. For the business simulator, have at least one person with mathematical skills.
3. For the business simulator, watch the videos above and over the first two days read the manual.
4. You have access to mentors. Use them. No-one knows what they are doing, and you won’t sound like an idiot asking simple questions.
5. Have fun.
6. Be creative in the new business.
7. Don’t be boring.