15 March 2017
ICAEW Base Competition
Yesterday a team of six Lower Sixth students, Malcolm Briery, Masha Glik, Prangan Tooteja, Tim Zibarev, Sonya Verkhoturova and Maxime Robeyns participated in the ICAEW Base Competition, organised by the Institute of Chartered Accountants. They were accompanied by Mrs Redding, Head of Entrepreneurship.
The ICAEW Base Competition is a business game that involves teams analysing a complex business case by reviewing a large quantity of company and market information, including the company’s financial statements, and then responding to various situational changes. They then present their future business strategy to a panel of judges. This is a scenario that is sometimes used during corporate recruitment assessments.
The students said it was nothing like anything they have done before; an intense yet interesting and enjoyable experience, and great exposure to the world of business.
Malcolm Briery writes:
The competition took place over the duration of the day. We were presented with a collection of various financial documents describing a specific company and were tasked to read through the information and produce a detailed SWOT analysis, evaluate possible strategic business decisions, and recommend potential steps to increase the profitability of the business by producing a four-minute presentation to the firm’s board of directors. The experience was extremely valuable, and provided myself other members of our team with a great insight into the business world as a whole as well as potential careers in finance and accounting.