{"id":47962,"date":"2017-11-21T08:05:04","date_gmt":"2017-11-21T13:05:04","guid":{"rendered":"https:\/\/brocku.ca\/brock-news\/?p=47962"},"modified":"2017-11-21T16:30:07","modified_gmt":"2017-11-21T21:30:07","slug":"goodman-students-ace-virtual-economy-competition","status":"publish","type":"post","link":"https:\/\/brocku.ca\/brock-news\/2017\/11\/goodman-students-ace-virtual-economy-competition\/","title":{"rendered":"Goodman students ace virtual economy competition"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Quick thinking and sound business decisions helped a team of Brock students rise near the top of a recent competition.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Four Goodman School of Business students, Julia Baird-Oryschak, Alyssa Dicienzo, Josiah Dueck and Majid El Assi, came together to claim third place out of 40 teams during a LIVE competition in Toronto Nov. 9 to 11.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Hosted by Nestl\u00e9 and the University of Toronto, the event is a multidisciplinary business simulation designed to enhance students\u2019 problem-solving skills and their ability to adapt to change through a fast-paced virtual economy competition.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s not a traditional case competition and that\u2019s one of the reasons I wanted to compete in it,\u201d said Dicienzo, a fourth-year business student with a concentration in finance.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt really keeps you on your toes and you need to have strong teamwork skills in order to navigate it successfully,\u201d said the Niagara Falls native. \u201cThe best part was that we never knew what was going to happen next.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Forty teams began with a brief outlining their virtual company. They were then required to make quick, informed decisions about product pricing and resource allocation in their quest to accumulate profits and capture market share from their competitors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Every business decision students made was tied to a different outcome that led to different decisions later in the simulation. Seven rounds, each representing one fiscal year, were weighted differently for the final score and were impacted uniquely by decisions made in the previous round.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Brock\u2019s participation in LIVE, which included several student teams, was organized by the Goodman Student Ambassador Association, a Goodman student club.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIt\u2019s a great honour to have one of our teams ascend to third place in this competition,\u201d said Goodman School of Business Dean Andrew Gaudes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe prepare our students to think critically and to think on their feet, so it\u2019s always great to see them develop and to be recognized by industry as being prepared to do so. We\u2019re very proud of their success at LIVE.\u201d<\/span><\/p>\n<div id=\"attachment_47963\" style=\"width: 1060px\" class=\"wp-caption alignright\"><img aria-describedby=\"caption-attachment-47963\" decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-47963\" src=\"https:\/\/brocku.ca\/brock-news\/wp-content\/uploads\/2017\/11\/LIVE-competition-2-RS-1050x675.jpg\" alt=\"\" width=\"1050\" height=\"675\" \/><p id=\"caption-attachment-47963\" class=\"wp-caption-text\">Several student teams from Brock\u2019s Goodman School of Business competed at the LIVE business competition hosted by Nestl\u00e9 and the University of Toronto Nov. 9 to 11.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Quick thinking and sound business decisions helped a team of Brock students rise near the top of a recent competition.<\/p>\n","protected":false},"author":22,"featured_media":47964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[39,1,4],"tags":[594,5999],"_links":{"self":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/47962"}],"collection":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/comments?post=47962"}],"version-history":[{"count":2,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/47962\/revisions"}],"predecessor-version":[{"id":47966,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/posts\/47962\/revisions\/47966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media\/47964"}],"wp:attachment":[{"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/media?parent=47962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/categories?post=47962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brocku.ca\/brock-news\/wp-json\/wp\/v2\/tags?post=47962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}