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Bullets
courtesy of
HP and Junior Achievement Honor Tomorrow's Business and Technology Leaders with HP Global Business Challenge Award
PALO ALTO, Calif. & COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--
Aug. 18, 2000--Two teens walked away with the title "Best
Business Decision-makers in the World" and $3,000 in prize
money last night following the final round of the Junior Achievement
and Hewlett-Packard Company's Global Business Challenge (GBC)
2000.
Jose Valenzuela and Jesus Juarez from Mexico were victorious. Second prize went to a team from Guatemala, third prize went to a cyber team from Belarus, Latvia, Macedonia, and Argentina. In fourth place was a team from Canada, followed by a team from Lithuania in fifth place. Honorable mention went to teams from Mexico, Belarus and Japan.
The GBC is a global competition that enables students to run a virtual company by using their business knowledge to react to a virtual market.
Junior Achievement International, a non-profit organization that teaches young people about the world of free enterprise, created the competition as a vehicle to provide students with near-real-world business experience.
As managers of the computer-simulated businesses, the student teams made decisions on price, production, distribution, marketing and R&D for a fictional digital-pen product that remembers everything an author writes.
The computer determines the winner by producing a composite score based on retained earnings, market share, growth, productivity, plant capacity, and brand-name awareness.
The competition started seven months ago with 870 student teams from 57 countries. Eight teams participated in the finals of the GBC in Palo Alto, Calif.
Countries represented in the final round were Lithuania, Canada, Guatemala, Mexico, Japan, Belarus, Latvia, Argentina and Macedonia. At the awards ceremony, HP Chief Executive Officer Carly Fiorina presented the award to the winning team and addressed the students on the importance of education, invention and global business.
The event was sponsored by HP for the fifth consecutive year.
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