The new award for the most successful Barossa team has been created in honour of Irene, who was the major organiser for the past nine years of the Business Week activities.

Irene, a former Nuriootpa High School teacher, died last year.

The 2008 competition began on Monday this week with an information day for students in Kapunda.

Teams from Eudunda Area, Kapunda High and Nuriootpa High have entered the challenge and will all work on the same business scenario.

The students are required to simulate the operation, marketing and financing of a 200-room full-service hotel for a two-year period - all within three days.

The objective is to achieve the highest quarterly share price by making the best business decisions.

Each team, or company, elected a general manager on Monday and will have to appoint members to the marketing, operations and finance departments.

The key to success is team work.

If that doesn’t keep the teams busy enough there are also written and oral reports, trade displays and TV commercials to be prepared by Friday.

In fact, by Friday afternoon all their work will have been judged and the award announcements will be made.