Happy New Year Everyone!
This year I spend my New Year’s Eve 2012 in Sydney, witnessing the spectacular Sydney Harbour fireworks. It was a truly amazing experience, despite the 12 hours wait for a good spot of the show.
After arriving home yesterday, I had a funny incident with my landlord commenting on the fact that I was so amazed by my experience in Sydney. What she confronted me with was a 6.3 million large figure representing the coast of the fireworks in Sydney, and whether or not I found 12 min of fireworks worth that large amount of money. I gladly answered that it was all worth it, to her surprise. We did not discuss it further. However it made me start wondering.
I knew what I had spent in Sydney for the four days I was there, and just with simple math I quickly realized that the 6.3 million was not such a bad investment. Just with some rough estimates I could easily disprove my landlord’s position.
It had wakened my attention and I had to research the actual figures of the event. The official figures indicate that the 6.3 million fireworks had put 156 million dollar into the local economy and on average a total cost of 4 dollar per spectator. This means that 1.575,000 people saw the show. In Australia the corporate income tax is flat 30% which means that the government has earned an estimate of 46.8 million dollar, deducting the 6.3, equal to 40.5 million dollar in tax revenue. (These estimates due not consider speculations or other forms of avoiding taxes.) However the numbers speak for them self.
Was the 6.3 million dollar fireworks show worth the money? Yes it was all worth it!
During my time at Aarhus University Institute of Business and Technology I founded and hosted a range of popular guest lectures under the name of the Thought Leader Series.
The concept of the guest lecture series was to invite CEO’s from the business community around the University to speak for the students about their way up the career latter, as well as giving a realistic image of how the theory taught at the university is practiced in the real market.
The guest lecture series was arranged next to my daily studies in my spare time, and I consider the Thought Leader Series as being my entrepreneurial hobby project. The project did not serve to earn money and was a total non-profit arrangement sponsored by Aarhus University.
Read about the CEO’s guest lecturing in the Thought Leader Series here.
The project was supported and sponsored by Aarhus University Institute of Business and Technology, and the Thought Leader Series was recognized by the management.
The Thought Leader Series had great success and experienced its largest audience with its last guest lecture held by Georg Soerensen CEO of MCH.
I participated in Global Management Challenge (GMC) the world’s largest Strategy and Management Competition, where more than 450,000 university students compete worldwide. Global Management Challenge is the largest international business simulation event and has a history going back to 1980 when if for the first time emerged in Portugal by SDG – Simuladores e Modelos de Gestão. Today 34 nations are represented in the game and the nationalities stretch from Denmark to Singapore; from Venezuela to China.
The game is a simulation game challenging me and all the other 450,000 participants with over 60 different decisions weekly, created to simulate a real decision board in a real company. Everyone participate in team of 3 to 5 people, and I was joined with 4 classmates about making the decisions.
The game gave me a great insight in what it takes to manage a production company, with all from buy of raw material, production facilities, employees, budgeting, agents, distributors, investors and 60 other parameters.
The game is played on a weekly basis, with one decision sheet per week. What defines the success on the scoreboard for the company is the value of the company’s stock on the stock exchange. The greatest companies reach the Danish final, where the best team will represented Denmark in the international final, in year 2011 taking place in Macao, China, only an hour with boat form Hong Kong.
Global Management Challenge is in Denmark sponsored by Maersk, Accenture, Siemens, Cowi, BiBoB, KPMG, BK Medical, IDA management forum and DJØF.
Read the official documentation for Global Management Challenge here