May 13, 2013
Jennifer Mencl | Associate Professor | Department of Management Studies | 218-726-7385 | email@example.com
Lori Melton | Communication Associate | External Affairs | 218 726-8830 | firstname.lastname@example.org
UMD Management Club Team Place Second in J.A. Corporate Titan Challenge
Three students from the University of Minnesota Duluth (UMD) Management Club, Kendra Eisenschenk, Laura McClellan, and Adam Orcutt, came in second place in the Junior Achievement Corporate Titan Challenge on May 2.
The Management Club team was the only student team that participated in the competition that included ten other teams from local businesses such as Minnesota Power, U.S. Bank, the National Bank of Commerce, and Westmoreland-Flint. The event was a fundraiser for Junior Achievement. This was the first time the Challenge was held in the Duluth-Superior area.
The competition involved a computer simulation in which each team's company manufactured and sold a device called a Holo-Generator through several quarters and were evaluated on their firm's performance. Teams made decisions on such things as pricing, marketing, product development, capital investment, as well as charitable giving expenditures.
The UMD Management Club team estimates that they put in about ten hours per person in prep time, including reviewing the J.A. Corporate Titan Challenge manual, deciding on their strategy, and engaging in practice sessions.
Each of the participants found the event to be a very worthwhile endeavor. "The Challenge gave the team a unique opportunity to practice making business decisions. It's hard to get that kind of experience in class with a textbook. This was a really great hands-on way to learn," said Eisenschenk, a junior majoring in Organizational Management with a minor in Communication.
"The reason I decided to get involved with the Corporate Titan Challenge was because I like getting involved in the community that I live in. It feels good to be doing things that help the community. I believe in what Junior Achievement does, and I was happy that the Management Club was able to support them. It was a very fun and welcoming environment. I've learned to take advantage of every opportunity that comes along, because you never know what might come out of it," said Laura McClellan, a senior majoring in Marketing and an officer in the UMD Management Club.
"I participated in the Challenge because it was an opportunity to network with local business professionals and test my knowledge of how to run a business," said Adam Orcutt, a junior majoring in Marketing and an officer in the UMD Management Club. "It was a great experience to work with my peers in a fast paced setting; we were given short amounts of time to make our business decisions so we had to come to a compromise quickly. I am very glad that Junior Achievement gave us the opportunity to compete with the professionals, and I definitely look forward to hopefully competing again next year," said Orcutt.
Associate Professor Jennifer Mencl, from the Labovitz School of Business and Economics Department of Management Studies, is the advisor for the Management Club.