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At this stage of MERIT 2017 we expect turbulence with a great range in the percentage improvement. Teams are still learning and still considering their strategy. Don't take too long some may get there quicker.
There are a great number of interdependent decisions to be made each round. Making good decisions for each of them, or for most of them, is what will improve performance. Virtually all decisions require balance, there is always a down side. Balanced decision making takes judgement. Judgement requires data and information from each team member and teamwork to make the right compromises. This will take organisation. Each team member is a director, and should have an individual responsibility. Each director should come to the decision-making meeting, whether real or virtual, well informed. One director not doing their homework is letting the company down. We do know of sackings in the past. Once at the meeting each director should act for the common good not just their individual section, this is teamwork. Organisation, discipline, teamwork requires leadership. Make sure yours is strong enough.
For the finance director watch the turnover to capital ratio if your capital isn't working hard enough you should find better things to do with it.
The ranking isn't stable, and there will be more turbulence to come, but getting the decisions balanced will improve ranking. Maybe the rising teams demonstrate this.
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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!
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After many requests, we've extended the Registration deadline to 17 February. So with just over 2 weeks left to go before Registration for MERIT 2017 now closes, it's not too late to enter the only Annual International Construction Business game supported by The Institution of Civil Engineers and The Chartered Institute of Building.
100+ teams representing over 35 companies have already Registered, and are Trialling hard using the NEW online software. If you are one of these teams, why not get more colleagues involved for a bit of in-house rivalry, and the chance for your company to claim the Sponsors award.
So, for your chance to become the MERIT 2017 Champion and win the £5,000 cash prize.
Register/Pre-register NOW!
Registration closes: 17 February, 2017
If you're having trouble getting hold of the all-important Purchase Order Number needed to complete the registration, please Pre-register NOW!
Pre-registering for MERIT 2017 gives you access to the trialling phase while you chase up the PO number that we need to confirm your place in the main Game.
You can also Register and pay by Debit/Credit Card.