This year's Business 2000 series aims to throw light upon the issues that affect businesses on a daily basis, writes Caroline Madden
If you've been on a foreign exchange, you'll understand that there's a huge difference between the classroom and the real world. You may have drummed all the rules of French or German grammar into your head and you may have an impressive vocabulary, but that's not much use if you don't know the slang or can't master the accent.
The same goes for plays. Those of you studying Othello this year may find that Shakespeare's words don't really come to life until you see them acted out in a theatre or in a film adaptation.
Learning about the business world is no different. Poring over textbooks can certainly give you a grounding in the principles of accounting, business or economics. But even if you know your debits from your credits and can rhyme off the definition of every business buzzword, it's not until you see how all of the theory fits into real-life scenarios that you start to grasp the bigger picture.
That's what this year's Business 2000 column aims to do: bring business to life. Each week we'll look at different issues that affect businesses on a daily basis. It is hoped that this column will act as a catalyst for debate with your teacher and classmates. The in-depth case studies provided in the Business 2000 resource pack should further develop your understanding of how the business world really works.
Over the coming months, we'll find out what goes on in the minds of successful entrepreneurs, what motivates them to take risks and what advice they have for the entrepreneurs of the future.
We'll also examine how to spot a gap in the market and transform a great business idea into a viable money-making enterprise.
We'll gain insights from experts on how to avoid common pitfalls when starting a business, and we'll find out why small businesses are considered the engine room of the economy.
Other key issues such as the difficulty of recruiting, managing and retaining staff, and the challenge of creating a positive image - for example through corporate social responsibility (CSR) activities - will also feature in this column. Factors affecting Ireland's economic future will be dealt with too.
The Business 2000 column, resource pack and website are not, however, a substitute for your textbooks. They should simply spark discussion and expand your understanding of business matters.
Of course, there's no better way of learning about business than by actually getting out there and starting your own enterprise. The Student Enterprise Awards run by the County and City Enterprise Boards represent a perfect opportunity to test out your entrepreneurial flair. Simply ask your business teacher to register for the competition on your behalf with your local county or city enterprise board by October 31st - next Wednesday.
There are some great prizes on offer for the winners of the senior category this year, including an international trip. And in case you need more persuading, bear in mind that some past participants have been known to pocket several thousand euro from their business. So why not use your midterm break to brainstorm with some friends and concoct an ingenious business plan?
Here's what last year's winners of the senior category, Séamus Crosbie and Colm Gore, have to say about the experience: "Many fellow students felt that we were wasting our time and others slagged us, but this all stopped after we won the county final."
Following that success, Séamus and Colm went on to scoop the national award as well.
"Taking part in the Student Enterprise Awards did us the world of good," they said recently. "It tapped into skills we didn't know we possessed and forced us to use them. It prepared us for years to come, no matter what walk of life we decide to take."
You should also try flicking through the rest of the Business This Week supplement in The Irish Times every Friday. You'll be surprised at how many articles jump out at you that complement your course work.
Even television programmes like Dragon's Den can add to your understanding of what makes the business world go round. By watching how aspiring entrepreneurs pitch their business ideas in a bid for investment finance, you'll develop a sense of what kind of business plans work and which ones are never going to get off the ground.
Students and teachers can contact the Business 2000 column at business2000@irish-times.ie to suggest topics they would like to see featured here. Or, if you're a budding young entrepreneur, why not e-mail us and share your experiences?
