Team from Scottish Widows Wins Management Game
Winners of the IMS 1997/8 Management Game held at the Holiday Inn, Leicester during the first weekend in April were a team from Scottish Widows Fund, of Edinburgh.
The other finalists who won through from the semi-final round were from Calsonic Llanelli Radiators Ltd, Llanelli and a second team from Scottish Widows.
This year the criterion for success in the competition was the companies' share price, instead of the accumulated profit used in recent years. The closing share prices were close, but differed enough to show that Debbie Weir's team from Scottish Widows were clear winners. Following them, and not far behind, were Calsonic, and the second Widow's team led by Blair Forrester came a commendable third.
Over 20 teams started the course in October last year. By Christmas a half of these had been eliminated, and a further nine went out at the end of the second round in March.
Teams are required to manage a simulated manufacturing company with the aim of maximising share price (which is influenced by net assets plus a variety of other forward looking parameters) over the one and a half year period which the game simulates.
They control the fortunes of their company by making sets of decisions covering aspects of the four main corporate functions of marketing, production, human resource management and finance. With up to five people in a team, individual participants look after one or other of the functions as part of the total management team. In doing so they sharpen up their inter-personal skills, are given a clear view of how a company operates as the sum of many parts all of which are dependent on each other, and how decisions must be made with an eye on the company as a whole and not simply on a departmental basis.
In the preliminary rounds the game was played by post and fax at one or two week intervals over a period of months. The final took place on one day, with only one or two exciting, but stress filled hours in which to make decisions. …