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Austrade Business Awards

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News created: 14 Dec 2010

Austrade Business CompetitionPostgraduate Students win the 2010 Austrade Award

Congratulations to students of the Faculty of Business and Economics Master of Commerce and Master of International Business programs. Five of our students are the winners of the NSW National Award in the Austrade Business Plan Competition for 2010. The competition requires tertiary students to plan the elements required for an Australian business to sell its products or services overseas.

Throughout the competition, students need to consider elements such as business capability, market research, market entry strategy, marketing strategy and international business administration. The competition is open to all students enrolled in an Australian on-shore tertiary institution.

This competition was offered at Macquarie through the subject BUS804 International Business Plan.  The purpose of this unit is to provide - a conceptual framing of the interplay between the “Multinational Corporations”, the countries in which they do business, and the competitive environment in which they operate. Students learn to understand the management challenges associated with developing strategies and handling the operations of companies whose activities stretch across national boundaries.

The group of 5 students studied BUS804 as an online unit as many of them also work fulltime. Unit Convenor Dr Meena Chavan and team leader, Sarah Yin Yin Ho were given the opportunity to attend the 48th Australian Export Awards Ceremony to accept the prize on behalf of the group. Dr Chavan said "it was a fantastic and inspiring evening."

Their winning idea, the One Card, was in the New Business Idea category. The group hopes One Card will become a universal keycard that holds the user’s personal information, can be used as an ATM/Credit Card and Transport Pass. It will include such information as the user’s date of birth, address, contact details, tax file number, driver’s license number, medical records, account numbers, membership numbers etc. The project focused on the viability of, and strategy towards, introducing One Card, into the South Korean market.

“This was definitely one of the most enjoyable projects that I have worked on” says Sarah, “not only from a topic perspective but also because we had a great lecturer and I was working with an intelligent group of friendly students. I believe that Macquarie University has a fantastic online facility, it is because of this online facility I was able to study 7 of my 8 subjects online. This online facility enabled me to work with students from all around the world, helping me meet new friends and to expand my knowledge about different cultures.”

Teammate, Nuntarya Laowachara has this comment: "The Austrade competition was a thrilling experience, working together in the virtual group. It is something I will always remember as I continue my journey in the business world. I believe my experience on this assessment will help me in my future roles in terms of creative thinking and working productively in a team. The International Business course is very useful to future career progression as all assessments and contents are designed in a very practical way."

The unit BUS804 is offered as part of the Master of Commerce and the Master of International Business as an online unit and on campus for semesters one and two.

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