Bangkok--Nov 10--SET
As a part of its youth development project “SET Junior Achievement Thailand” (SET-JAT), The Stock Exchange of Thailand (SET) has introduced “SET-JAT Business Challenge 2004”. The challenge was subsequently chosen by GE Foundation as one of the world’s best youth projects. This program will seek out outstanding Thai youths, from the high school and undergraduate levels, who are the best at producing effective business plans. These youths will then join in on an international Global Business Challenge competition which will include an overseas field trip. The prizes total more than THB2 million.
Executive Vice President of the SET Mr. Punsak Vejanuruk revealed that the youth development project SET Junior Achievement Thailand (SET-JAT) has been chosen by the GE Foundation as an outstanding project and has been awarded a special fund of US$15,000 (or THB650,000) to support youth activity promotions. Accordingly, SET-JAT has added this fund to the SET budget to organize the SET-JAT Business Challenge 2004, which is open to Thai youths at the high school and undergraduate levels.
“It is such an honor for Junior Achievement programs worldwide that the SET-JAT project was chosen as an outstanding youth project by a global organization like the GE Foundation. SET-JAT has gone forward with the ’SET-JAT Business Challenge 2004’, with the cooperation of GE Thailand, to once again organize activities that will promote business skills among Thai youths” said Mr. Punsak.
“SET-JAT Business Challenge 2004” was organized to train Thai youths through a competition which emphasizes their knowledge and understanding of business management, economics, trade and investment analysis. The challenge also utilizes computer simulations of business situations to help make learning fun, easier to understand yet intellectually challenging. The computer simulation phase of the project will be carried out using the Management and Economics Simulation Exercise (MESE) developed by Harvard Association Inc.
Candidates must decide on 5 different topics in each round of the game. The topics will include that competitor’s retail pricing, number of products offered for sale, sales promotion budgets, sales plans, production plans, and product research and development budget.
“All the youths who participate in the competition will get a chance to receive training to help them learn and develop analytical skills to prepare themselves for the adult business world. Participants will also be developing their attitudes for successfully becoming highly-capable entrepreneurs. The competition will recruit 10 teams of youths nationwide to represent Thailand in the Global Business Challenge 2005. This Challenge is an on-line competition to find the best 8 teams of youths worldwide. These 8 groups will take an overseas field trip to participate in the last round of the race for the grand prize, worth more than THB2 million.
In addition to expanding their knowledge and understanding of essential business fundamentals, this is also a means for encouraging Thai youths to make better use of their time, to gain more experiences from this competition, to meet friends, to win scholarships, and to represent Thailand in an international competition where more than THB2 million worth of prizes is at stake” said Mr. Punsak.
Global Business Challenge 2005 is an annual international competition. In 2003, more than 1,000 teams of youths from all over the world joined in. Thailand has sent a representative to the challenge since 2002.
Last year, the team that got the highest scores in Thailand was team KUS30 from Kasetsart University Laboratory School. This year, more than 150 teams from Bangkok have already applied for the challenge.
The SET-JAT Business Challenge 2004 is open to all youths in 2 categories, that is, the high school level for youths age 15 to 18, and the undergraduate level for youths age 18 to 21. 32 two-member teams from each region will be selected. In the Northeast, the application period is open until November 10, 2004 at Khon Kaen University’s Faculty of Management Science. In the South, interested teams can apply at Prince of Songkhla University until November 12, 2004, while in the North; applications will be accepted until November 17, 2004 at Chiang Mai University’s Faculty of Economics. In addition, interested candidates can apply on-line at http://setjat.set.or.th or find out more information at S-E-T Call center at 0 2229 2222.
The SET-JAT Business Challenge 2004 will select regional candidates between November 11 and 24, 2004. In Bangkok, the challenge will take place at the “SET in the City” fair at Queen Sirikit National Convention Center from November 11 to 14, 2004. For other parts of the country, the competitions will be held at the universities where the applications are being accepted.
On December 2, there will be a competition to look for Thailand’s champion. Teams that make it to the final round will each receive a THB2,000 scholarship and a plaque for the represented institution.
The winning team at the national round will receive THB35,000 in scholarships, while the first runner-up will receive THB20,000. The second runner-up will be awarded THB10,000, while THB5,000 will go to the third runner-up. All awarded teams will be entitled to take part in the Global Business Challenge 2005, while all represented institutions will receive recognition plaques.
Interested youths can find out more from our youth development project SET-JAT website at http://setjat.set.or.th, or call S-E-T Call Center at 0 2229-2222.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036 /
Kulvida Jintakawong Tel: 0-2229-2037 /
Nattaporn Boonprapa Tel: 0-2229-2049 End.