The search for the MERIT 2017 Champions has started with teams form 47 companies and 14 countries. With such wider spread of companies MERIT 2017 should be very competitive. The competitive element adds the excitement but the main purpose of MERIT is learning and training extending knowledge and skills. So every participant benefits greatly as MERIT's long record demonstrates.
This is the 27th MERIT game and MERIT has a not only a long record but a well recognised record of providing excellent introductory training in company, business and financial management. Teams' understanding of the issues involved and the interdependence of the decisions that influence their company's success will be considerably developed over the next seven rounds. Key in the management of each team's simulated company, as it is in the management of real companies, is leadership, teamwork and disciplined decision making. The teams acting as a Board of Directors, with each member having a specific responsibility need to be well organised to take informed decisions and this requires good leadership. Decisions require evaluation and an individual director's or team member's recommendations will be compromised for the greater good of the company. This takes teamwork and teamwork is much harder to achieve than it sounds at the outset. Lessons in teamwork, disciplined decision making and leadership will give an insight to the pressures of senior level management and history shows these to be the most important and lasting lessons from the MERIT experience for all teams. It is an opportunity to think like directors, act like directors, be directors. A casual approach will not succeed.
The leading six teams after round 12 will qualify for the final and face an even more competitive experience. The final will be held on 11/12 May at Loughborough University's prestigious hotel and conference centre Burleigh Court. For the finalist they will also have the opportunity to 'live like directors!'
The results from the first round are not good predictors of the eventual outcome given the turbulence that will develop but a good start is always helpful. In these early rounds teams are working out the market level that will produce winning bids. Do they invest heavily in marketing to generate many bidding opportunities or do they manage their overheads more carefully? Such is the balanced judgement that is needed on many decisions.
Another balanced judgement is bidding. If companies have bid too low they may win a lot of contracts but generate little or no profits to retain for company growth and dividends to pay shareholders. On the other hand bidding too high won't produce any contracts. Good luck to all teams in MERIT 2017 but disciplined decision making will reduce the need for luck!