Now in its 14th year, the GEC in 2015 will follow its established format where teams of students from around the world compete within a 12-hour period to come up with a solution to a significant global challenge. The 12-hour challenge will take place on Saturday the 13th June 2015. When the challenge is announced at 9.00am on that date, students will have 12 hours in which to conduct research, come up with a solution, then present that solution in the form of a written submission and a 3-minute video. Judges from around the world will assess the submissions and determine the winners.
2015 will see the introduction of a new but optional element to the Challenge. Students will be invited to participate in an optional online business simulation in the month prior to the regular GEC. This optional activity will commence Monday 18 May and over the next four weeks teams will be asked to submit two simulation submissions per week before tackling the final challenge and submissions on Saturday 13 June. This optional activity will enable students to form effective teams prior to the GEC, to solve problems and develop a better understanding of business finance, marketing, and operations. These understandings will be a benefit when they are required to make a presentation, illustrating the funding required for their proposed solution to the global challenge.
Students not wishing to participate in the optional simulation will not be penalised in any way as this element is not compulsory and its scores will not be counted in determining the winners. However we recommend that students give the simulation a try because it could help with how they develop their submission and it is proposed to be a compulsory part of the 2016 GEC.
The GEC Challenge in 2015 will comprise three elements, the first being optional and the second and third being compulsory.
1. Optional - Each team of up to 10 students will take over a manufacturing company and run it for a simulated 2 year period (8 quarters) Each quarter they will be required to make up to 54 decisions about the running of their business in which they will be competing against all the other teams globally. At the conclusion of each quarter, each team will receive a comprehensive report detailing how their company has performed. In addition they will be able to view online how their company is performing against all other companies. As they will be making decisions for two quarters per week, it will take 4 weeks for them to run their company for the simulated two-year period.
This part of the challenge will be auto scored by the computer using an algorithm based on turnover, profitability, market share, and retained earnings, plus efficiency and optimisation.
2. Compulsory - The second part which will not be announced until the 13th June just as in past challenges, will be to develop a video presentation illustrating the product, process, or service that you determine as your solution to the challenge.
3. Compulsory - The third part of the challenge will be to develop a written report presenting your solution to the challenge including how you will market to your target audience and including a financial presentation on how the project will be funded.
To give all participating teams an experience of making decisions in the optional Manufacturing Simulation we will provide access to a single player variant which is a full version of the simulation but with fixed, interest rates, wages and salaries, exchange rates, and demand curves. In the single player variant participants compete against 3 cyber opponent companies. This will give participants an overview of the simulation, its input requirements and summary reports sufficient to gauge the impact of their decisions.
To get a taste of what is involved in the ABW Manufacturing Simulation you can log on to http://sim.abw.org.au/cgi-bin/Regdem.py. This demo version is restricted to 2 quarters and will illustrate the inputs and reports and must be completed within 1 hour.
Note: the version that will be offered as an optional exercise prior to the GEC will comprise 8 quarters and be run over 30 days and allow for variable interest rates, wages and salaries, exchange rates, and demand curves.
Please note that ALL written reports, web, and video presentations and submissions must be in English.
Your team will require access to computer/s with Internet and email capability, and Microsoft Word, Video recording equipment is also required for the video presentation.
Each team must nominate 2 judges to join the international judging panel. Judges can be people in the field of science, business, research, academia, teachers, medicine, parents, or any similar pursuits.
You can find out more about the ABW simulations by going to www.abw.org.au/simulations/the-simulations.php and get a feel for the video presentations at the http://www.globalenterprisechallenge.com website.
If you have any questions, please do not hesitate to contact us.