After a highly charged and intense weekend of competition, FedEx and the Young Enterprise Trust have named the six students from New Zealand who will compete against eight other countries and their 48 representatives in Singapore at the FedEx/JA International Trade Challenge’s (FedEx/JA ITC) Asia-Pacific final.
The New Zealand representatives are:
Hannah Monigatti, ACG Senior College, Auckland; Aidan Scott, Westlake Boys’ High, Auckland; Wendy Lee, Macleans College, Auckland; Derek Lieu, ACG Parnell, Auckland; Sophie Shrimpton, Tauranga Girls’ College, Tauranga; William Hohepa, Northland College, Kaikohe.
Eighty students from around New Zealand took part in the weekend-long business challenge and were required to develop a market entry strategy plan to sell an oil-based product to Saudi Arabia.
Business proposals ranged from a fertiliser that helps solve the water shortage problem in the country, to rubber roof tiles, a skin moisturiser that also aids sleep, and a religiously sensitive nail polish.
The students were judged by a panel of entrepreneurs and business leaders on their market-entry strategies detailing marketing, promotion, pricing, inventory and product distribution plans.
Managing director of FedEx Express Australasia Kim Garner said the level of skill and talent that was evident during the weekend challenge was again very high.
“We are continually impressed with the creativity and the understanding of business concepts that these students demonstrate. And only having a few hours to come up with a detailed marketing strategy is a big ask in anyone’s language. The six winning students showed a high level of entrepreneurial skill.
“We have high hopes for them representing New Zealand at the Asia-Pacific ITC final in late August.”
Jointly organised by FedEx Express and Young Enterprise Trust, the FedEx/JA ITC is designed to give students from our region insights into international trade and business marketing. By creating a ‘business’ and developing its global marketing plan, students are able to put those insights to the test.
“Through the FedEx/JA ITC event, we are providing a forum for our young and aspiring business people to gather and learn about what is involved in international trade. It is excellent preparation for doing business on a global level. It also gives them the opportunity to develop their own skills that are needed in the business environment; teamwork, interpersonal relationships, self-confidence and risk assessment,” Mr Garner says.
Before heading to Singapore, the six representatives will participate in a two-day training workshop in July at the FedEx facility in Auckland to prepare them for the Asia-Pacific regional final in August. In 2014, the Kiwis won the final and the pressure is on to replicate the result.
The International Trade Challenge is in its ninth year in Asia-Pacific and 2015 marks the seventh year of FedEx sponsorship in New Zealand.
The event has provided almost 10,000 students in nine Asia Pacific countries, including 560 students from more than 200 schools throughout New Zealand, with invaluable insight into global trade.