New Collegians Win FMAA Competition
First Mark Consulting, including Dane Ricketts (New Collegian 2008-2010) and Paulette Lo (current resident), were crowned the Australian Champions of the 2011 FMAA Management Consulting Competition, taking home a trophy and the $4000 cash prize. The competition required creating and presenting an innovative and practical business for Dropbox, offering hands-on experience as management consultants. From UNSW alone, 50 teams competed to represent the university at the national final in Melbourne. A panel of judges, ranging from consulting and financial advisory firms to academics, including the Boston Consulting Group, Bain and Company and Macquarie Group assessed the logic, innovation, feasibility and professionalism of the strategy recommended by each team.
The team’s winning strategy consisted of not only solving the company’s problem of profitability, but also looking at what the company should do to ensure its product remained relevant and ‘sticky’ with users. The key differentiator between companies, competing in the rapidly changing technology sector, is their dedication to innovation, which the team aimed to deliver with their strategy. The judges found the solutions compelling, well-researched and most importantly executable based on the company’s current situation.
Paulette Lo and Dane Ricketts were selected in March 2011 to represent UNSW in the International Case Competition hosted by Maastricht University in the Netherlands. Their first experience with case competitions was with the Corporate Strategy Case Group, a society on campus which trains teams to represent UNSW in international case competitions. In July, Paulette was selected to represent Australia in the Global Final of the CIMA Global Business Challenge. The Australian team achieved remarkable success and was ranked third out of the 2,500 teams which competed internationally.