In an effort to highlight how mathematics and science skills can contribute to a successful business career, some companies are launching competitions for high school students. In addition to learning about real-life business scenarios, participants also have the opportunity to win scholarships.
For instance, DemandTec has announced it will begin accepting teams who wish to compete in the DemandTec Retail Challenge. This annual event invites students to use their math and science skills to develop business methods that could be used in the business industry. Winning teams will be honored with scholarships to be used towards postsecondary degree programs.
Through a web-based program, teams must develop techniques that can create the highest profit for a fictitious retailer by using pricing and inventory options. Financial decisions must be also be made based on consumer behavior, statistics and supply availability.
This challenge is "our way of educating high school students on why math and science matter in the business world and the many career choices available to them if they continue their studies in these areas," said Dan Fishback, president and chief executive officer of DemandTec.
After students complete the two-week simulation, those who achieve the most profitable outcome will be chosen for regional finals. From these teams, the competition winners will be selected.
