If you want to show students an example of how even the worst of economic downturns can still present an opportunity for some businesses then you could do worse than show them this article from the BBC about the net profit figures from pay-day loan specialists Wonga.com.  The article reports that Wonga have seen a trebling of their profits during 2011 as customers feel the pinch of the recession and look for a quick way to raise cash.

The article strays a little into negative reporting but it reminded me of a lesson I observed last year where the interest rate charged by Wonga was used as an example for students who were calculating compound interest using spreadsheets (you're not a true teacher of business studies until you've attempted to deliver a lesson on compound interest!).  Given the APR levels set by the company, students were calculating that a £100 loan that was not paid back for 4 years would accrue a debt of £315 million!

Join the tutor2u community

With a tutor2u account you can access extra features to support your teaching & learning.

Subscribe to the daily digest

Curate your own content

Track your training schedule

Manage your resource library

Receive job alerts

Join the community

Already joined? Sign in now ›

More From the Digital Store

Michael McDonald (Mac) wants increase revenue. Should he increase his advertising or launch a new type of burger, the Magic Mac. He has decided to use a decision tree to...

£5.00 (+VAT)

Big Macs Decision

This activity is a more kinaesthetic approach to use when delivering cash flow forecasting. The activity is to be used as a main activity for consolidating the learning on producing...

£5.00 (+VAT)

Kinaesthetic Cash Flow

In this short business simulation, students become the directors of a business producing pies and are in competition with several other firms. Their aim is to compete for new custom...

£5.00 (+VAT)

The Pie Factory

Recruitment

Advertise your vacancies with tutor2u

Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.

Find our more ›

Advertise your teaching jobs with tutor2u