Global Management Challenge USA
On March 13, 2012 and after winning the first competition’s round, EDPR NA employees participated in the Global Management Challenge USA National Final at the NYSE in New York City.
The EDPR NA team won the USA National Final and they will be going to Kiev, Ukraine in April to participate in the International Finals. In Kiev they will represent the USA and compete with the winners of other countries across the world.
EDP has been a major sponsor of the Global Management Challenge World for the past 14 years. This year marked the first time the Global Management Challenge was held in the USA. The Global Management Challenge is the world’s largest strategy and management simulation competition.
According to the organization’s website, over the past 33 years more than 480,000 university students and company managers have participated in the competition. “EDPR NA has a deep talent pool,” said CEO Gabriel Alonso. “It was a pleasure for the Executives to choose a diverse group of exemplary employees to represent our company in this competition.” The team of five representing EDPR NA in the Global Management Challenge USA were Heather Wong (Origination Manager), Federico Toro (Senior Procurement Manager) , Kevin Ku (Finance Manager), Cedric Kouam (Market Operations Manager), and Matt Hutchinson (Performance Analysis Associate).
“This group of individuals has complementary skills and excel in developing innovative and creative solutions,” said Alonso. “There was no doubt that they would do well.” Matt Hutchinson was honored to be selected. “I was surprised but pleased to be selected by the Executive Team to participate in the competition,” said Hutchinson. “It is an honor to be chosen and to represent both EDPR and the U.S. in the International Final.”
The contest consists of a Management Simulation in which each team is given complete control of a hypothetical company with the objective of obtaining the highest share price on a simulated stock exchange. All teams start with the same company history and make decisions in areas related to marketing, sales, production, research and development, finance and human resources.
Teams had to analyze financial and economic indicators, market conditions, corporate strategies, functional areas, and customer satisfaction in order to make decisions regarding the organization. EDPR NA’s team competed against students in challenging business schools and managers from successful companies. Business Schools and Universities such as Stanford, Chicago Booth, and the University of Virginia were represented.
“We had to compete against some really tough teams,” said Heather Wong. “however, I knew we had a team of extremely talented individuals and that our diverse skill set would be our biggest competitive advantage.”
The competition consists of a total of four rounds. The first round was web based and teams advanced based on a series of five rounds of decisions on the different areas of the company. The second round of the competition was the National Finals which gathered the 8 teams that achieved the highest share price in the first round. The last rounds are the International Semifinals and Finals hosted in Kiev, Ukraine where 40 countries are each represented by their winning team.
EDPR NA’s team, after winning the first round, flew to New York City to participate in the National Finals, co‐hosted by the New York Stock Exchange Euronext. The competition also partnered with several media outlets including Fortune, Time, and CNNMoney.com.
“It’s a unique opportunity to get invited to the New York Stock Exchange Euronext,” said Cedric Kouam. “There was so much energy in the room. We were given less time to make decisions as the day went by, which made it both exciting and stressful.”
After a full day of competition, the team was awarded first place with a simulated stock exchange share price of “1.052”. The team will be traveling to Ukraine in mid‐April to partake in the International Final.
“What an incredible feeling it was to win the national competition at the NYSE,” said Federico Toro. “Our team is eager to get to Kiev and compete against the best international teams.”
Joao Metelo, VP Finance, Planning, Accounting & Tax, is ecstatic for the team. “We are very excited with the success achieved by our team in this competition,” Metelo said.
“Ranking first among such a qualified group of competitors from all the US is a testament to the excellence of our professionals and to our ability of working as a team.” “Congratulations and good luck in Kiev,” Metelo tells the team.
Alonso, proud of the team’s achievements thus far, wishes the team the best of luck next month at the finals. “It would be an amazing achievement if this team won the International Final,” he said. “But in my opinion they were winners before the competition even began.”