Issue 3, Friday 18 March 2005

Management students play for profits

Four teams of students from Peninsula campus have achieved Top Ten scores in an international contest that challenged them to manage simulated ‘corporations' and generate maximum profits.  

The teams were ranked first, third, fourth and seventh in the competition, in which 70 teams operated simulated ‘companies' online, and responded to computer-generated scenarios as though they were real.  

Over six-weeks, scaled to represent five years of trading, the players plotted corporate expansion, launched products, resisted take-overs and fought share market slumps using a virtual budget of $40 million.  

The Monash players were strategic management students from the Faculty of Business and Economics. Department of Management associate professor Dr Sonja Petrovic-Lazarevic, introduced the contest during the summer semester. Monash was the only Australian university to enter the competition, which attracted players from the US , UK and Canada .  

Dr Petrovic-Lazarevic said the first-placed Monash team finished with $46 million profit, out-manoeuvring the host computer in the process.

She said its success had a lot to do with team management and how the members interacted. “Students were challenged and excited by experiencing true team work,” Dr Petrovic-Lazarevic said.

Monash strategic management tutor Mr Zaffer Khan said the students had learned a lot by putting theory into practice. “The students role-played in areas such as research and development, production, human resources, finance and marketing,” he said.

More Monash teams will take part in another simulation contest later this semester.

Wine marketing and tourism seminar

The Centre for Wine Food and Agribusiness is hosting a Wine Marketing and Tourism Seminar over the weekend of April 9 and 10, 2005.

The seminar involves leading figures in the wine, food and agribusiness industry presenting on the global trends, marketing challenges, and outlook for the industry.

Some sessions topics include:

• The challenges and changes for wine marketing in Australia 2005.
• How has global wine marketing changed over the past 15 years, and where does Australia fit into the future.
• Wine retailing has never been tougher. See how one of the best independents does it, and does it well.
• The two paradigms of consumer behaviour – information processing and experimental.
• Who is the consumer?

As well as a great networking opportunity, there will also be the chance to sample some of the best wines the region has to offer.

For more information or to register your interest, contact Kay Waghorne ext. 44358.

Supporting the Victorian wine industry

Currently in its eight month, the Monash at Federation Square Wine and Agrifood Business Breakfast Series provides an excellent forum for leaders in the fields of wine, food and agribusiness to discuss the opportunities and challenges facing their important industries with associates from the whole supply chain.

The Business Breakfast Series has featured industry guest speakers such as Max Ould - Board of Directors, Fosters Group, Stephen Lynch - Head of Agribusiness, and prominent people from the French wine industry.

Each month a different region of Victorian wine is featured in an attempt to support, promote and recognise the Victorian wine industry and wine producers on a year round basis through a focal point at Federation Square.

Deferment of March 24 research seminar

The seminar on research collaboration between faculties at Peninsula campus, which was to be held on March 24, has been postponed for a later date.

Upon reflection, given the number of different research themes on campus and in particular the new and proposed areas of interest, it was decided that we could not do justice to the topic. To fully explore these opportunities it is proposed that an extended workshop be held later in the year, in effect a follow up to the 2004 Morning Star event.

Contact Robin Drury for any queries.

2005 Open Day planning

Hot on the heels of Orientation is Open Day 2005, where planning currently underway. 2005 Open Day dates are:

Staff who would like to include an activity in the Open Day program of activities are advised to contact their faculty or area representative. Those who don't have any representation on the committee can contact Thanh Ngo, Open Day campus coordinator.

Student Survival Week

March 21 to 24 is Student Survival Week which entails four days of activities and events aimed at helping new students make the transition to university life. It is a chance for students to familiarise themselves with the support services and facilities available on this campus, as well as to put the name to the face of some Peninsula staff.

Students and staff are encouraged to participate in the range of activities and enjoy the free breakfast and lunches provided by Monsu. Majority of these will be running in the Student Union building.

The program for the week includes:

Monday 21 March – An introduction to Student Survival Week with a free breakfast and lunch hosted by Peninsula MONSU. Community services will also be present on this day from 12 pm – 1.30 pm.

Tuesday 22 March – Stall day with various faculties and campus services represented on the day, including campus security, employment and student rights. MONSU is hosting a free lunch.

Wednesday 23 March – Healthy Body and Mind day. Financial services will be attending and there will also be local guides and helpful brochures for students to pick-up. MONSU is hosting a free lunch again and the Triple M Street Freqs will be on campus at 12 pm. There will be meditation demonstrations taking place.

Thursday 24 March – Wind down with a chillout session hosted by MONSU in the student lounge. MONSU are also hosting a free BBQ lunch. Faculties will be represented at this BBQ so take the opportunity to mingle and get your questions answered!

For more information, contact Marni Dickson, Student Survivour Week campus coordinator.

Peninsula notes

Farewell drinks for Liz Dumps

The Faculty of Business and Economics at Peninsula invites you to afternoon tea to farewell Liz Dumpson. After many years of working at Monash University, Liz has decided to retire.

The farewell will be held on Thursday 24 March at 4.00 pm, in the Seahorse Tavern dining room.

Please RSVP to Narelle Krueger by Monday 21 March at the latest. This will assist with the catering requirements.

THRIVE @ Peninsula

THRIVE is a stress reduction program for Monash staff. Conducted over eight weeks of one-hour sessions, staff will learn useful life skills such as relaxation, worry control, values clarification, combating procrastination, assertiveness techniques and how to sleep better.

A one-off registration fee of $10 is charged. The first session is on Monday 4th April at 1.00pm To register, email Julia Haig.

Easter Raffle  

The IT Relay for Life team is running an Easter raffle with all the proceeds going to the Cancer Council of Victoria

Ticket price: $1 each  

Winners will be notified by telephone or in writing.

2005 AFL Tipping Competition

This year's AFL tipping competition will be conducted over the internet. However, manual tipping cards are also available at the Seahorse Tavern for non-internet users.

To join, go to the Footytips website, select Find my Competition and enter the competition name Monash Seahorse Tipping Comp. From here, tippers will need to creat their own username and password, which are needed for the weekly footy tips.

Further information about the competition rules are available on this website

Competition Details

Tippers who sign up by Tuesday 22 March will receive a free drink* at Seahorse Tavern.

Proudly sponsored by Monash Staff Club, Seahorse Tavern, and CUB.

* Conditions Apply

To submit articles and items of interests, email Thanh Ngo.

Authorised by the Office of the Academic Director - Peninsula