IN TOUCH; Management and NZIM Promote business challenge

The New Zealand Institute of Management and Management magazine have joined forces to launch new nation-wide business management game.
The NZIM Business Challenge is business simulation in which teams of up to five people compete in the running of fictitious manufacturing enterprise.
The contest runs for about three months, during which time two rounds of six sets of decisions are made by the competing teams. The 25 teams that reach the semi-finals then make an additional six decisions, likewise for the final five teams.
Teams meet as the management group of their company and by developing plan, make variety of business decisions for the manufacturing and marketing of the company’s products. The game is web-based and, by using password access, teams can enter their decisions from anywhere in the world and see results.
Teams will be asked to make strategic decisions on management issues including:
•Pricing
•Marketing & PR
•Production
•Transportation
•Warehousing
•Creditors/debtors
•Cashflow management
•Finance and investment.
Promotion of the game begins this month and entries close in August.
The object of the exercise for each team is to make as much profit as possible. Teams with the greatest profit from each round progress to semi-finals and finals competition. There are various prizes for success but the winning team stands to pick up some international travel.
“NZIM sees this as another way to promote best practice management,” says NZIM National chief executive David Chapman. “We decided to get behind it and get something going in New Zealand. Perhaps we can then encourage similar competition in Australia and create some good healthy trans-Tasman management rivalry. sort of Bledisloe Cup of the business world.”
The game is administered by Wellington-based promotions company, Lupo.