Oxford High School sophomore Clara Claassen and freshman Aaron Zhang won the Financial Team Decision Making event at a DECA Inc. competition. The students spent weeks researching and preparing for the event, showing strong business knowledge, teamwork and problem solving skills during the competition.
DECA Inc. is a student organization that helps high school students learn about business, marketing, finance, hospitality and entrepreneurship. Students compete in real world business scenarios.
“I think it shows students how the real world is going to work and it really sets them up for their future and it helps them explore the different pathways that they can take,” Claassen said. “This was a good opportunity for me. I think I would go into business because of DECA, there are several options it opens up to explore.”
The students were given the challenge of solving a real world business problem related to finance. The team studied different situations such as banking, investments and financial planning.
“We are given a scenario, and usually someone needs help with something and we are their financial advisors,” Zhang said. “We have to bring our solution to performance indicators, and present them to a judge. Mainly we are trying to solve the issue and the judge is acting as our client.”
Preparing for the event required hours of studying and practice. Because the Financial Team Decision Making category focuses heavily on financial vocabulary, the students spent time reviewing business terms and practicing possible scenarios.
“There are many resources online that we looked at,” Claassen said. “There are a ton of terms you have to know, we basically just studied words.”
Classen said participating in DECA has helped her develop a wide range of important skills. Through her preparation and experience, she strengthened her understanding of personal finance, leadership and decision making under pressure.
“I had to analyze the problem under time constraints,” Claassen said. “I had to decide the best scenario and course of action to take from there which improved my ability to make quick decisions.”
While the experience has been rewarding, Claassen acknowledged that researching and studying for the event can be challenging.
“The most challenging part would be the preparation for the event,” Claassen said. “It’s stressful to study under high stakes and try to memorize key terms but the fun that comes along with participating in DECA overrules any negative.”
Both students encourage others to try DECA and not be intimidated by the competition. While the event requires studying and testing beforehand, they say the experience is rewarding and enjoyable.
“It’s more fun than work,” Claassen said. “The hardest part is the testing you have to take before it, but if you go in with confidence you can probably win just like we did.”
For Claassen and Zhang, winning was a rewarding moment after all the time and effort they put into preparing. Claassen said the experience made the hard work worth it and gave her something to be proud of.
“When I found out I won I felt so happy because it felt like me and my partner’s hard work really paid off,” Claassen said. “I worked hard to get here, and to get a reward and be able to participate in nationals is something I’ll never forget.”
