June 23, 2009

It's time to sign up your team for the challenge - here's how:

It's that time of the year again - time to sign up your team for a chance of winning the Global Management Challenge!

Here are the criteria for entry:

- You may be a student, employee or anyone else who considers them self a business-minded individual

- You need to find a group of individuals to work together as a "company" . Groups have to be from 3 to 5 people

- Once you have your group together, register in the "Register your team" section of the GMC Australia website (http://gmc.studylink.com/registration/index.html)

From there, someone from GMC Australia will contact you and help to prepare you for the challenges ahead.

Here is the time line of things to come:

July - Team registrations

August - Teams finalized

September - Team sponsorship finalized

October - 1st Round of Competition begins (5 rounds to take place over 4 weeks)

November - National Final to be held

May 2010 - International Final takes place in Russia

If you have any questions, please contact:

Josh Flannery

Product Manager - GMC Australia

gmc@studylink.com






April 01, 2009

Faculty of Economics and Business at the University of Sydney supports tough decisions in tough times

There has never been a more crucial time for students of economics and business to understand the global economic environment and the implications of poor financial management. It is for this reason the Faculty of Economics and Business at University of Sydney became the major sponsor of the international management simulation competition called the Global Management Challenge for the second consecutive year in 2009.
 
Originally developed by a group of management researchers from the University of Strathclyde, in Scotland, the Global Management Challenge is currently the most popular competition of its type in the world and this year a total of 15 teams from universities across Australia competed. The national final was held on 28 March at the StudyLink office with the winners to compete in the International final in Portugal from 22-23 April.
 
Nishant Jadhav, currently studying the Master of Finance (University of Sydney), said the program was an enriching part of his university experience.  “You have to make some tough decisions based on what you read on the balance sheets and financial statements you receive,” said Nishant. “But then, just like life, something will be thrown at you that you weren’t expecting and you have to change your entire approach to meet the new economic circumstances.”

 

 

GMC_competitors_at_the_reception_await_the_final_result 

Above: Scenes from GMC FInal reception

 

 

Oner Aktas, John Gordon and Sam Underdown make up team “ANUMBA” - the 2009 Australian champions from Australian National University  . The 3 will fly together with organizers from StudyLink to Lisbon, Portugal where they will be met by fierce competition from teams of the 29 other participating countries in a battle to become this years international champions.

The international finals will take place on the 22nd and 23rd of April this year.

 

 

 

GMC_National_Finalist_Group_photo 

Above: 2009 GMC National Finalists enjoy Reception and Awards presentation

March 27, 2009

This article is written by Long Vh (leader of Macquarie University team 2009)

It is like a dream coming true. GMC is definitely the experience any entrepreneur or passionate business students would seek.

From the very first day when I recognised GMC poster in my uni campus, I was immediately hooked in: a management competition, a global challenge, a business experience... all that I had been tirelessly looking forwards to sharpen my entrepreneur skills were in front of my eyes. I believe that all business students yearn to seek the experience of sitting in the corporate leader chair, overseering what it means to be managing production line, what it means to employ marketing strategies, what it means to winning over competitors... 

Such things are far from being able to be taught in any uni around the world. But here it is, even though still distant from being perfectly realistic, GMC certainly has painted the picture.

Before GMC 09

Without any hesitance, I kept the registration deadline in mind as there were not many days left before the event commenced.

A good organisation needs brilliant men.

First of all was to find a great team. Given a short period of time, it seemed there would be no way the effort of posting advertisements around uni would bring any response to join my team. Not to mention that choosing among the responses would take another considerable amount of time. I decided that I would ask among my great friends.

Asked 5, but only 2 responded. Eventually only Bach accepted to be my right hand. My other friends were all busy with their thesis and involvements in university life.

Nevertheless, I and Bach decided to merge with another team that was also in need of people. Unimaginably, much by God's grace, the final team then proved to be fantastic because of the new team mates Jee and Simon.

Still, there was one more problem: we needed the university's grant to take part in this competition.

I did not even know whose hands my proposal should reach. "Who is the person in charge?" "How do I contact him?" "Would I waste my time and effort onto this?"

It was definitely a tiring search, like a treasure hunt: checking staff sites, asking departments, calling contacts… just to find out who the program coordinator was.

As a saying goes “search and you will find”: that was the most respectable Dean of Students that I needed to contact. Immediately I sent my proposal for time was shouting at me.

The proposal was not granted until 3 days before the first decision; Macquarie University certainly had been kind to its own students.

After all the trials, we made it through at last.

But it was just the beginning.

During the competition

3 days were left before the 1st round and we had not even gotten acquainted with all the information in the manual. The manual was huge and it was also the time we started a new semester. With no choice, bearing the responsibility of managing the whole group, I rushed through the manual as if there would be no tomorrow!

And the first decision came. Our first group meeting was absolutely terrific... except only one thing: the timing. It went on straight for more than 4 hours.

Nevertheless, we made super bold moves and strategies in the end.

And that was also the reason our company terribly suffered. Immediately after that devastating loss, we took heart of the very familiar economics concept: supply and demand.

The first decision did not yield much fruit. However the team spirit was unimaginably solid: it was unshakable.

We moved on and kept heart the saying “when the going gets tough, the tough gets going”. The few decisions afterwards were so much better. There were much more careful consideration in our meetings, with much more fun too (and also more disputes). I still remembered that there was one meeting when we argued with one another almost for an hour over just one little issue: closing stock value.

Yet it was all about the first round. The loss was too great to be even recovered. However, as the saying goes “he who loses much learns much”, the experience that we all have learned was invaluable.

The Epilogue

After all we had acquired great experience in running business. We definitely had fun and much of learning from one another. We have also realised how little we know and how little we can make use of what we have learned. Although we did not make it to Lisbon, we had taken a valuable glimpse of what it means to be a business leader.

And most importantly, we have fully prepared well for the next GMC challenge.

Soon the time will come for Macquarie to reach the top.

The best is yet to be,   


Long Vh

-----------------------
Bachelor of Business Admin/Economics
Macquarie University Australia
-----------------------

March 02, 2009

Round 1 results!

All teams did well in the first round of the Global Management Challenge despite the added difficulty they faced last Thursday.

The top 3 team results of each group were:

Group 1
 
1. Bond 1 (Bond University)
2. Synergy (University of Sydney)
3. University of Melbourne (University of Melbourne)
 
Group 2
 
1. TLK (AGSM, UTS, Corporate)
2. Bond 2 (Bond University)
3. The Trend Setter (Macquarie University)
 
Group 3
 
1. Anumba (Australian National University)
2. Bond 3 (Bond University)
3. USyd SIFE (University of Sydney)

Good luck to all the GMC participants as they come closer to their second round decision deadlines tonight at 10pm!

February 27, 2009

An unexpected challenge for participants in the 1st round of GMC Feb 09!

With students having only hours to go before the deadline, a new challenge was presented to our teams: the web server students need to access in order to submit their decisions was not made unavailable.

Teams acted in different ways - some unmoved as they had already submitted decisions, others stayed cool, calm and collective and of course there was an element of panic amongst some participants to throw into the mix.

How will this effect the results? Will this real event give some competitors an edge??

We will find out soon as the new deadline for teams to submit their 1st round decisions is 10pm Friday, February 27. Good luck everyone!!

October 14, 2008

Global Management Challenge received the EFMD-CEL certification!

We are delighted to inform you that the Global Management Challenge received the EFMD-CEL certification - Programme accreditation for teChnology-Enhanced Learning

This certification rewards the work of excellence and quality delivered to our participants and the value of the Global Management Challenge as a program to develop the skills and knowledge for strategic management.

For more information you can visit the site of EFMD at www.efmd.org or go directly to: http://www.efmd.org/index.php/component/efmd/?cmsid=040929dygl

August 29, 2008

5 star hotel in Lisbon, Portugal for our Aussie GMC finalists!

The Global Management Challenge organizers in Portugal have successfully secured "VIP Grand Lisboa Hotel & Spa", a 5 star hotel, as the venue and accomodation for the international finalists of this years Global Management Challenge.

The International delegations (including the Aussie team) with arrive on Monday the 20th of April and the Europeans arrive on the 21st of April - then we will have the Partners Welcome dinner.  On the 22nd is the Semi-final and Friendship Dinner (possibly held in Estoril Casino) and on the 23rd the final nd the Gala dinner and prize awards (possibly  held in hotel in Cascais).

Stay tuned for updates here!

Vip_hotel3Vip_hotel1Vip_hotel2

Vip_hotel4 Vip_hotel5

April 17, 2008

Great Expectations: Now a Romanian screenplay

Well, Day 3, almost over... but the important stuff hasn't even taken place.

A hard day was spent in the semi final today. We were placed in a group with China, Hong Kong, India, Itay and Angola, and all proved more that capable at the game. Competition has been tight, and teams ranking have jumped around all day.

It was exceptionally pleasing to know that we have done well, at one stage coming second, and having other teams mimic our pricing and output strategies.

The final submissions have all been handed in, so now all we can do is wait.

Each of the team members has over the past couple of days picked up a couple of habits to help destress and culturally adjust. Taylor has been checking out the locals for any whipping talent, while also practicing a new form of meat tenderizing - an original technique that involves posthumously hand jobs on frogs.  The rest of the team haven't really know what to say... Dan on the other hand has been conversing with the other teams, and they have all grown to know and love him (especially a couple of ladies on the Greece team!!!) Faz meanwhile has been "getting more hotterer" with every day, and Amy has been proving to the world that thongs DO go with Reserve Banks and also with every other formal situation imaginable.

So for now, all we can do is wait. And hope that we end up with apleasing result. One way or another though we plan on making a big impact on the competition!!!

Up up and away!!!

April 15, 2008

The big day has arrived!

Cimg0161_2_2 Last night saw Team Aus spend some time unwinding with the help of generous traditional Romanian dinner servings at "La Mama" (http://www.lamama.ro/) - a popular restaurant for foreigners looking for 'real local food' in Bucharest.

A bright and early 7.45am meeting in the plush lobby (Phoenicia Grand Hotel http://www.phoenicia.ro/) this morning showcased the impressive confidence of these 5 Bond students who's nerves seemed to be overcome by focus and drive to succeed in todays semi-finals.

The Australian group and their competitors were escorted onto a bus headed for the Romanian National Bank where they will be given a briefing session and team allocation before the first Management Report is due at 10.45am.

Good luck team!

Good luck in Romania

All the best to the team from Bond University who will be participating in the semi-final of the Global Management Challenge today (15 April) in Romania. Look forward to hearing how you get on.