|Not a member? Sign up now!|
--Team New Zealand Will Compete Against 42 Representatives From Seven Countries for the Asia Pacific Title--
Auckland New Zealand, 25 July, 2010 – Six high school students have been selected from an initial pool of 72 to represent New Zealand in the FedEx Express/Junior Achievement International Trade Challenge in Singapore in August.
FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, hosted the second stage of the International Trade Challenge, a two-day workshop, at their Auckland office. Eleven students from all over the Country were tasked with coming up with an entry strategy into Russia selling a range of hats.
In teams of two, they had 48 hours to submit a ‘market entry strategy’ for a new product of their own design, detailing their marketing, promotion, pricing, inventory and international product distribution plans, tailored to the Russian market. Each team had eight minutes to present their strategy to the judges, who were Tony Dixon, Operations Manager, FedEx Express New Zealand, Donna Dentice, Chief Executive Officer, Young Enterprise Trust, and Chris Chitty, Senior Lecturer in Product Development at Massey University.
The final six students (from North to South Island) are: Grace O’Rourke – Kaitaia Abundant Life School (Kaitaia), Joseph Payne – Macleans College & Kruger Schaumakel – Westlake Boys High School (Auckland), Katy Hendrikse – Putaruru College (Tokoroa), Sophia Faure – St Mary’s College (Wellington), and Benjamin Braid – Christchurch Boys High School (Christchurch).
The six students were chosen for their understanding of the significance of market research, creativity, planning, and entrepreneurial skills to enter new markets. The six will travel to the host country, Singapore, to represent New Zealand at the international final from August 23-25, 2010. The students will compete with 42 students from Hong Kong, Korea, Malaysia, Thailand, Philippines, Japan & Singapore.
Commenting on the caliber of the entries developed by this year’s teams, Lee Davies, Country Manager, FedEx New Zealand said: “The finalists presented some excellent and well thought out strategies. The judges found it difficult to select just six students to represent New Zealand and if these young people are the future entrepreneurs for global trade, then New Zealand has a very bright future ahead of us indeed.”
“The International Trade Challenge aims to help highlight and develop the entrepreneurial spirit of young people in New Zealand by providing opportunities in international trade education, and these skills certainly shone through in the finalists. FedEx is proud to be able to help facilitate this great learning opportunity and we wish students the best of luck in the Asia Pacific final in Singapore,” he added.
This is the second year New Zealand has been invited to participate in the FedEx International Trade Challenge. Last year, New Zealand teams won both the regional title as well as the first runner-up title.
The International Trade Challenge is part of FedEx’s sponsorship program with Junior Achievement Worldwide which aims to educate and inspire young people to become entrepreneurs by providing them with first-hand experience in international trade, enhancing their knowledge in a range of business areas and developing their sense of teamwork, risk-taking and self-confidence.