global competition essay

10 Break-Out Sessions

• Time: 3:30 pm - 4:30 pm

India is undergoing its economic, technological and demographic transition simultaneously. An old country is becoming youthful and adventurous with the passage of time. Young Indians like OYO founder Ritesh Agarwal are quietly taking charge of Indian ethos by becoming icons of audacious aspirations and tangible proofs of its potential, spawning startups that are becoming most valuable and famous than many legacy companies. How can young revolutionaries find ways to carry the older generation of investors, regulators, workers and consumers with them and what can other economies and founders learn from India’s momentous transition?

For over 50 years teams of student have volunteered to organise the St. Gallen Symposium. They have written countless invitations, met thousands of partners, and welcomed some of the most important personalities of their time on stage. Together with former members of the ISC we will reflect on the St. Gallen Symposium experience of cross-generational dialogue and collaboration, the lessons they have learned for their lives and on how the symposium has evolved. This session is organised together with ISC Alumni.

As the need for innovation is growing, the routinisation of well-structured creative processes within organizations is key for concurrent value creation. Prof. Susan Goldsworthy of IMD, this year's St. Gallen Symposium artist Javiera Estrada and Light Artist Gerry Hofstetter will discuss the role of collaboration in the creative process. Together, and in conversation with the audience, they’ll explore the way collaboration can drive creativity in various organisational contexts, and, on the other hand, the role of introversion and lone contemplation in creating something new.

Many employee volunteering and giving programs are presented as an employee perk, similar to casual Fridays or a team-building event. But treating workplace giving and volunteering this way fails to fully capitalise on the great potential of such programs: to foster employee personal growth, and address key societal challenges. The panel will particularly explore the potential of skills-based volunteering, its benefits, and the unique challenges that arise when moving from merely transactional volunteering to something far more transformative.

The investment landscape over the next twenty years will be radically different from previous generations. While there appears to be greater access to capital, there also appears to be much more volatility and debt with no clear dominant financing mechanism. Entrepreneurs, VC, Private Equity, and banks will have to find new ways to work together to create growth and stimulate innovation. How can investors and entrepreneurs better collaborate and find mutually beneficial agreements that balance risk and return?

The fashion industry accounts for 10% of humanity’s annual carbon emissions – more than all international flights and maritime shipping combined. For long, the fashion and luxury watchmaking industry drove, together with the fashion media industry, unsustainable dynamics in the sector: generating more and more demand through an artificial cycle of new collections and seasonal trends. Businesses’ marketing, media as well as influencers thereby create a constant longing and demand for their products. How can designers, fashion houses and publishers exit this vicious cycle and, collaboratively, drive the transition towards more sustainable and ethical fashion and luxury watchmaking?

Media diversity, freedom of the press and freedom of expression in Europe are currently under threat. Journalists and independent media companies are increasingly joining forces across borders to respond to such challenges as well as to be able to continue to offer independent quality journalism in the future. This session will identify learnings from new media partnerships such as the Leading European Newspaper Alliance (LENA) and the Organised Crime and Corruption Reporting Project (OCCRP) to identify how media can most effectively work together.

Technology, innovation, and entrepreneurship are key drivers of the modern economy and social mobility. Given their importance, we should strive to improve accessibility to tech, education and entrepreneurship across all backgrounds. Creating open and inclusive communities, especially with tech is important to accomplishing this goal, but it is easier said that done. Simultaneously, a third iteration of the internet – Web3 – has the potential to radically transform the internet of things and reduce barriers to access. How can these forces be effectively harnessed and directed for the benefit of all people and move the world forward?

Over the past decades, the tech sector, especially the internet of things, has become a central component of modern economies. Trying to catch up with the exponential pace of technological development, the US, China, and Europe are crafting rules of the game on digital markets. What are the emerging characteristic differences between regulatory regimes of digital markets, in the US, Europe and beyond, and how do they balance innovation and regulation? In light of strategic competition over tech dominance between the US and China, what are the opportunities and challenges for Europe in particular?

The Covid-19 pandemic has changed the world of work forever. The fast and widespread adoption of remote work and an ever-increasing concern of employees with purpose and meaning on their job have intensified the war for talents. Reaching out to and concurrently engaging employees is key for businesses across sectors and regions. What learnings can be drawn from the pandemic as regards our approach to work? Has the world of work changed for the better? And what role does leadership culture and a new approach to hiring play going forward?

• A Demographic Revolution: Young India Takes Charge (with All India Management Association) 9:00 am - 10:00 am
• Collaborative Advantage Across Generations: Reflecting on the SGS Experience (ISC Alumni) 9:00 am - 10:00 am
• Collective Genius? Cultivating Creativity in the Arts and Beyond 9:00 am - 10:00 am
• Connecting Business with Purpose: The Potential of Skills-Based Volunteering 9:00 am - 10:00 am
• Financing the Next Generation of Entrepreneurs 10:00 am - 11:00 am
• Hacking the Fashion & Luxury Watchmaking Industry towards more Sustainability (with Condé Nast College) 10:00 am - 11:00 am
• M100 Sanssouci Colloquium@St. Gallen: Media’s New Power: More Impact Through Collaborative Journalism 10:00 am - 11:00 am
• Democratizing Access to the next Generation of Technology and Innovation: Communities and Radical Transformation 10:00 am - 11:00 am
• Varieties of Tech Capitalism: Europe's Approach to Innovation and Regulation in a Global Context 11:00 am - 12:00 pm
• Changed for Good? Engaging with the New World of Work 11:00 am - 12:00 pm

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Global Essay Competition

Compete in our Global Essay Competition and qualify for participation as a Leader of Tomorrow in the world’s premier opportunity for cross-generational debates: The St. Gallen Symposium.

Meet 300 of society’s brightest young minds. Present and debate your ideas with 600 senior leaders. Be inspired by some of the world’s most impressive speakers. Gain a unique and new perspective on this year’s topic. Become a member of a unique global community. Participate in the symposium with us. Win prize money of CHF 20,000 split amongst the three winners.

Topic Question

Striving for more or thriving with less – what pressing scarcity do you see, and how do you suggest to tackle it.

Scarcity generally refers to a situation where human needs exceed available resources . This year’s Global Essay Competition invites young leaders worldwide to focus on a specific contemporary or future challenge related to scarcity and propose an innovative way to address it.

Be creative in thinking about proposed solutions: do we need to strive for more and find ways to boost the availability of the resource in question? Or does it focus on ways to thrive with less and thus rethink our needs and demand?

Be free in choosing which scarce resource you focus on: examples include – but are NOT limited to – human labour, capital, natural resources, or intangibles like time, creativity, or care. Be bold and precise in describing a contemporary or future challenge of scarcity and the specific kind of resources you focus on, and offer a concrete and actionable idea of how we should confront it.

Registration window for the GEC for the 53rd St. Gallen Symposium is closed.

If problems occur during registration, please clear your cached images and files in your browsing history or consider using the browser Google Chrome. If you still cannot apply, use the following  link. For any unanswered questions please contact us via e-mail at  [email protected]

Prerequisites

Qualify with an excellent essay.

We expect a professional, creative and thought-provoking essay. Be bold, unconventional, and distinctive on the competition question.

For your contribution to be valid, the following criteria must be met

Check your eligibility and prepare documents, to be eligible, you must fulfill all of the following criteria:.

• Enrolled in a graduate or postgraduate programme (master level or higher) in any field of study at a regular university
• Born in 1994 or later

Make sure you can provide the following documents:

• Copy of passport or other identification (in English for non-Roman languages)
• Confirmation of matriculation/enrolment from your university which proves your enrollment in a graduate/postgraduate level programme as of 1 February 2024 (download sample document  here )
• Your contribution file with no indication of your name in the file name, the file metadata or the file itself

Meet us and ask your questions!

Meet our student representatives to learn how you can qualify for a participation in the 53 rd St. Gallen Symposium. We will have physical presentations at your university again as well as regular webinars to answer your questions!

Accompanying a Leader of Tomorrow

General questions, who can compete for a participation as a leader of tomorrow at the st. gallen symposium.

Students enrolled at a regular university, who are matriculated in a graduate or postgraduate programme.

What is the St. Gallen Global Essay Competition?

The St. Gallen Global Essay Competition is a global student essay competition, offering students who study at graduate or postgraduate level around the world the opportunity to apply for participation at the St. Gallen Symposium.

What is the Knowledge Pool?

The Knowledge Pool is a group of Leaders of Tomorrow with a strong affiliation to topics of relevance to the St. Gallen Symposium. They show outstanding track records in the particular fields they work or study. They are hand-selected by the International Students’ Committee. It is not possible to apply for membership in the Knowledge Pool.

How much does it cost to participate? 

The participation in the symposium is free for all Leaders of Tomorrow. Moreover, expenses for travel, board and lodging are covered by the ISC. However, we recommend bringing a small amount of pocket money for your convenience.

Essay Competition

Who is eligible for the 54 th  st. gallen symposium.

Students enrolled at a regular university, who are matriculated in a graduate or postgraduate programme as of 1 February 2025, from any field of study, born in 1995 or later.

What is a “regular university”?

In the context of the Global Essay Competition, a regular university is defined as an institution of higher education that also conducts research and offers at least one PhD programme. Exceptions are possible and are granted on a case-by-case basis.

Can Bachelor students participate?

Unfortunately, students on bachelor level do not fulfil the eligibility criteria and therefore cannot enter the competition. There is no other way to apply for participation and we, therefore, encourage all students to join the competition once they pursue with their studies at a graduate level. You may, however, be eligible if the level of study in your current year is equivalent to international graduate level which must be confirmed in writing by your university.

Can teams participate?

Only individual submissions are allowed as we can only grant participation to one contender per contribution.

How long should the contribution be? 

The maximum amount of words is 2,100 (excluding bibliography or graph descriptions and the like). There is no minimum word count. Please make sure to state the exact word count in your document. Also keep in mind that you must not state your name in the contribution.

Do I have to quote my sources?

All sources must be quoted and all essays are scanned for plagiarism. You must refer each source to the respective text passage. Please note that plagiarism is a serious offense and that we reserve the right to take further steps in case of deliberate fraud. Self-plagiarism will also result in disqualification, as the work has to be written exclusively for the Global Essay Competition of the St. Gallen Symposium.

Can I have a look at previous Winner Essays?

Yes, you can find winner essays as well as other publications from the Global Essay Competition here .

What file formats are accepted?

Please make sure to hand in your essay in either a doc, docx or pdf format. The document must allow to copy the text easily (no document protections).

What documents do I need to submit?

In addition to your contribution, make sure to upload

• a copy of your passport (or any other official government ID but no driver’s license) to verify your age
• a confirmation of matriculation from your university confirming your graduate or postgraduate student status as of February 2023
• a short abstract (200–300 words) which can be entered in the registration form directly

in the applicable field of the registration form.

What happens after I submitted my application?

The ISC will verify your eligibility and check all submitted documents for completeness and readability. Due to the large amount of essays we receive, our response may take some time, so thank you for your patience. If the jury selects your essay in the top 100 , you qualify as a Leader of Tomorrow for an expenses-paid participation in the 52 nd St. Gallen Symposium (4-5 May 2023). The results will be announced via e-mail by mid-March 2023. The jury selects the three awardees based on the quality of the idea on paper. The award is endowed with a total prize money of CHF 20,000. In addition, there will be a chance for the very best competitors (including the awardees) to present their ideas on the big stage at the symposium. For this, the students will be asked to pitch their idea on video beforehand.

Who’s in the jury?

The Award Jury consists of leading executives, journalists and professors from all around the world. The Academic Jury is composed of young top academics from the University of St. Gallen and the ETH Zurich.

When will the results be announced?

The jury’s decision will be announced by mid-March at the latest.

Participation

How do the travel arrangements work.

The organizing committee will get in touch with you prior to the symposium to discuss your itinerary and to book your travel.

Can the organising committee help me get a visa?

All Leaders of Tomorrow are self-responsible to get a visa. However, we will inform the applicable Swiss embassy about the invitation and will provide you with the necessary documents. Should a problem arise anyway, we are happy to help. Expenses for visa application are borne by the Leaders of Tomorrow themselves.

Where am I accommodated during the symposium?

All Leaders of Tomorrow are accommodated at private student flats across the city. Please give us an early notice should you have any special requirements (e.g. female flatmates only).

What transport is provided?

We book flights or train tickets and provide shuttle service from and to the airport. Furthermore, all Leaders of Tomorrow receive a free ticket for the public transport in St. Gallen during the week of the symposium.

How much money do I need? 

We recommend bringing some pocket money (CHF 100–200) for your convenience. Please note that depending on your time of arrival and departure, some meals might not be covered.

Can disabled people participate as well? 

Yes, of course. Most of the symposium sites are wheelchair-accessible and we are more than happy to help where we can. Although our ability to provide personal assistance is very limited, we do our best to provide the necessary services.

Is there any touristic programme and do I have time for sightseeing?

During the symposium there will be no time for sightseeing. However, we may offer selected touristic programmes a day before or after the symposium. These days can, of course, also be used for individual sightseeing. Nearby sites include the old town of St. Gallen, the lake Constance and the mountain Säntis.

Can I extend my stay in Switzerland?

Yes, upon request we can move your return flight to a date of your choice. If the new flight is more expensive, we may ask you to cover the price difference. Please note that we are unable to provide any services such as accommodation or transportation after the end of the symposium week.

Can I bring a spouse?

Unfortunately, we cannot provide any services such as travel, room, board or symposium access to any additional person.

Past Winners & Essay Reviews

Out of approx. 1,000 annual contributions submitted by graduate and post-graduate students from all around the globe, the jury selects three winner essays every year. Meet our competition’s past winners and read their contributions.

2023 – A New Generational Contract

Elliot gunn, gaurav kamath, megan murphy, essay question:.

The best or worst legacy from previous generations: How to preserve or replace it?

A great deal of our lives is influenced by when we were born. As those currently alive, we have inherited the world which previous and older generations have built. We owe a great deal to the efforts of our forebears, but we also inherit problematic legacies.

2022 – Collaborative Advantage

Sophie lara neuber, anton meier, bryan kwang shing tan.

Collaborative Advantage: what should be written into a new intergenerational contract?

 The idea of a “generational contract” embodies the principles that younger and older generations rely on each other to provide mutual support across different stages of their lives. Inclusive education systems, sustainable welfare states and meaningful environmental action are some of many challenges requiring a cross-generational collaborative effort. Yet, with the climate crisis, rapid technological change and societal aging in many countries, the generational contract and notions of intergenerational fairness have been challenged. Members of the younger generation are raising their voices as they reflect on how their futures are being compromised by current decision-makers.

 What’s your specific and actionable idea that should be written into a new generational contract? Choose an area where you see evidence that intergenerational fairness is – or, going forward, will be – challenged and where the generational contract needs to be rewritten. Potential areas include, but are not limited to, business strategy and the economy, inclusive governance and education, the welfare state and health care, environmental sustainability, or the world of work. Describe your problem and offer concrete and practical proposals how inter-generational fairness can be restored or reinvented. Explain your idea’s impact for the future.

2021 – Trust Matters

Janz irvin chiang.

1st place – Peking University

Joan  Nyangena

2nd place – York University

Karl Michael Braun

3rd place – Albert-Ludwigs-Universität Freiburg

A Matter of Trust: How Can Trust be Repaired When It’s Lost?

In recent years, we have seen many reports about “trust crises” in the realms of politics, health, business, technology, science, and media. Political and corporate scandals, mass protests, and deteriorating trust indicators in global perception surveys support this diagnosis. As a result, senior leaders in many of these sectors publicly aspire to “rebuild trust” in their decisions, products, or institutions. What would be your advice to them?

Choose an area in one of the above-mentioned sectors where you see evidence that citizens’, consumers’, regulators’, employees’ or other stakeholders’ trust has been lost. Describe your example of an apparent loss of trust; offer concrete and practical proposals on repairing damaged trust. Describe your idea’s impact for the future.

2020 – Freedom Revisited

Symposium  postponed.

As a consequence of the COVID-19 pandemic, the final review and communication of the results of the contributions to the Global Essay Competition was stopped prematurely.

Freedom Revisited: Which aspects of freedom need to be defended, or recalibrated, to meet the challenges of our time?

Domestically and on the international stage, values of individual, economic, and political freedom are subject to critical inquiry or outright attack. Diverse phenomena such as populism, global power shifts, climate change, the digital revolution, and global migration call for a reflection on the value of freedom for the way we live, do business, and organize politically in the years ahead. While some call for a defence of established freedoms, others call for recalibration of our concept of freedom, or the balance we strike between freedom and other values, such as equality, sustainability, and security. Where do you stand in this debate? Choose one of the following positions as you develop your essay:

In defence of freedom: Choose an area in the realm of business, economics, politics, or civil society where current concepts of freedom are under pressure and where they need to be defended. Describe the problem and offer a concrete and practical proposition of how established concepts of freedom should – and can be – defended. Describe its impact for the future.

In defence of recalibrating freedom: Choose an area in the realms of business, economics, politics or civil society where current concepts of freedom are unsuitable for the challenges we face and where they need to be recalibrated. Describe the problem and offer a concrete and practical proposition of how established concepts of freedom should and can be recalibrated. Describe its impact for the future.

2019 – Capital for Purpose

Reuben muhindi wambui (ke).

1st place – The Graduate Institute of International and Development Studies

Natalie Hei Tung Lau (HK)

2nd place – University of Pennsylvania

Toan Do (VN)

3rd place – Yale University

Is it as good as it gets? – What approach would you suggest to change the current purpose of capital?

Political volatility, environmental issues, precarious labour markets, technological monopolies, managerial and investment short-termism are only a few challenges we face. The time has come to counter excessive short-termism and start doing business as unusual. Think about the status quo and its implications. What would be an idea to change it? Develop projects or actions you would trust in to bring new and expanded purposes to capital and aim for a long-term positive impact. In your essay you should consider how the use of capital (financial, human, social,…) can solve complex challenges and address substantial changes, be it by individuals, civil society, businesses or governments. Your idea must inspire leaders worldwide to take on responsibility and put it into practice. Be bold and develop a truly impactful concept to win our prestigious award.

2009 – 2018

2018  – beyond the end of work, nat ware (au).

1st place – University of Oxford

Janis Goldschmidt (DE)

João abreu (br).

3rd place – Harvard University

Robots are coming for your job. How do you augment yourself to stay economically relevant?

Author Yuval Noah Harari claims that the rapid progress of artificial intelligence technology will render the human species economically useless within decades. Imagine a world in which humans fight back, harnessing AI and other technologies to stay economically indispensable – and, ultimately, competitive against the computers. Describe the job you aspire to in the future, how it will potentially be influenced by AI, and how you would augment yourself technologically if necessary to prevail in your chosen career.

2017  – The dilemma of disruption

1st Place – University of Oxford

Benjamin Hofmann (DE)

2nd Place – University of St. Gallen

Sigin Ojulu (SS)

3rd Place – University of Southern California

Breaking the status quo – What’s YOUR disruptive idea?

The notion of disruption captures today’s innovation zeitgeist. Nowadays, it seems everyone claims to be a disruptor – particularly young people with an entrepreneurial mindset. Let’s think beyond disruptive innovation in management and look at disruption more generally as something that breaks the status quo – be it in business, politics, science, or society. Pick the one of these four fields you are most passionate about, identify a problem of greater magnitude and come up with a disruptive idea to solve it. Your idea must aspire to inspire top-notch leaders worldwide. Do not free ride on the buzzword “disruption” but rather be bold and develop a truly novel and radical concept to win our prestigious award.

2016  – Growth – the good, the bad, and the ugly

Schima labitsch (at).

1st place – Fordham University

Alexandra Ettlin (CH)

2nd place – University of St.Gallen

Colin Miller (US)

3rd place – New York University

What are alternatives to economic growth?

2015  – Proudly Small

Laya maheshwari (in).

1st place – London School of Economic

Leon Schreiber (ZA)

2nd place – Freie Universität Berlin

Katharina Schramm (DE)

3rd place – University of St.Gallen

Essay Questions:

• What is the next small BIG thing?

Think about unconventional ideas, undiscovered trends or peripheral signals that may turn into ground-breaking changes for societies. Present one idea which is not on the radar of current leaders yet but will change the game in business, politics or civil society – the best ones will be put to the test by the global audience of the St. Gallen Symposium.

• Collaborative Small State Initiative

Although small states lead the global rankings in international benchmark studies on competitiveness, innovation and wealth, they are often politically marginalised. Explore a common agenda for small and prosperous countries and identify one joint project that would increase the relevance of small states on the global stage. Go beyond politics and diplomacy by also including economic and civil players.

• Elites: small but superior groups rule the world – at what price?

Human history shows that the world has been ruled by tiny but superior groups of people. It is the elites who have been controlling societies and the allocation of resources. Given the rise of inequality, a devastating level of famine that still exists, ubiquitous corrupt systems of government, limited access to education for the underprivileged, to name just a few of the world’s greatest problems, elites are challenged to redefine their roles and agenda settings. Share your thoughts on how elites are supposed to emerge and transform in the 21st century.

2014  – The Clash of Generations

Ashwinikumar singh (in).

1st place – University of Mumbai

Martin Seneviratne (AU)

2nd place – University of Sydney

Set Ying Ting (MY)

3rd place – National University of Singapore

• Balancing Generational Claims

The presumption of an altruistic relation between generations and its positive effect on the economic well-being of societies is illusionary. Welfare states have widened fiscal gaps to an irreparable extent for the next generations. When aspiring to a sustainable welfare system, how should intergenerational claims balance without having to rely on selflessness?

• A Double-Edged Legacy

Let’s be frank: The generational contract has failed everywhere – but for different reasons. Exuberant public debts, zooming healthcare costs, unequal distribution of wealth, loss of ethical and moral anchors, loss of trust in existing institutions: each state is facing a unique set of problems. Briefly describe the situation in your country and propose a generational contract defining mutual responsibilities on an economic and social level.

• A Prospect for the Young

Highly educated and ambitious, yet unemployed. A whole generation of young is entering the labour market with little prospect of success. The implications go way beyond individual tragedies as economies with lasting high levels of youth unemployment risk social instability. Present new solutions on how we can overcome this crisis.

• Business between Generations

Slogans like “rent is the new own” or Botsmann and Rogers’s “what’s mine is yours” (HarperBusiness, 2010) mark the trend of shared economy. Although not a new economic phenomenon per se, particularly the Millennials are embracing this attitude towards doing business where they value access over ownership. The trend is gaining global mainstream acceptance which is resulting in a lasting impact on economic performance. Discuss the future of shared economy, its overall implications and the dynamics between supply and demand.

2013 – Rewarding Courage

Kilian semmelmann (de).

1st place – Ludwig-Maximilians-Universität München

Dragov Radoslav (BG)

2nd place – Rotterdam School of Management

Bree Romuld (AU)

3rd place – University of St.Gallen (HSG)

The competitors must choose from one of four competition questions, which refer to the four topic clusters “Putting incentives right”, “Coping with institutions”, “Against the current – courageous people” and “Management of excellence”

• Putting incentives right

How come that both in the corporate world and in politics, responsible courage (e.g. whistleblowing, courage to disagree with current paradigms, etc.) is hardly ever rewarded? Where the big decisions for the future are taken, anxiety, conformity and despondence prevail. How can this be changed?

• Coping with institutions

Institutions of all kinds shape our behaviour – be it economic, political or social behaviour. How should institutions be designed in order to foster a sustainable economic and social development?

• Against the current – courageous people

Observers lament that younger generations, as individualistic as they are, tend to settle for a highly streamlined social and economic world that does not ask for big decisions or unconventional thinking. Please share your opinion on this observation and explain why you agree or disagree. Please use examples that support your arguments.

• Management of excellence

New insights can only flourish within a culture of dialogue in different opinions. No assumptions should be taken for granted nor should there be any unquestioned truth. However, most people (decision makers, managers, students, etc.) often fail to deal constructively with conflicting opinions. How can companies encourage their employees to build a healthy attitude towards unconventional thinking and acting?

2012 – Facing Risk

Rodrigues caren (in).

1st place – St. Joseph’s Institute of Management

Jennifer Miksch (DE)

2nd place – Geneva Graduate Institute

Jelena Petrovic (SR)

3rd place – King’s College London

Detecting Risks

• The methodological tools that allow early detection of what will shape future trends are pivotal. While risks are emerging faster, these tools still need fostered advancement. What is the role of scenario planning and forecasting methods and who is or should be responsible for these aspects in the organisation? How should the detection of risks be addressed in an increasingly complex and interconnected global landscape?

Risk Aversion

• In wealthy societies, most people tend to suppress risk taking. Given this increasing trend of risk aversion in saturated societies, what are the long term consequences for economy and society? What are the long term consequences of a high level of risk aversion?

Emerging Risks

• There are tremendous risks facing the global community and many people have not yet become aware of their potential consequences (e.g. public debt burden). What are the societal, economic and/or political risks your generation of decision makers will be facing in the future? How could you convert these risks into opportunities?

Managing Risk

• There is often a disconnect between taking risks and bearing the burden of the consequences of doing so (e.g. risk taking in investment banking). Who should bear the consequences of negligent risk taking and why? How can healthy risk taking be fostered in wealthy societies?

2011 – Just Power

Marcelo ber (ar).

1st place – New York University

Dhru Kanan Amal (IN)

2nd place – London School of Economics

Maria de los Angeles Lasa (AR)

3rd place – Università di Camerino

• Justice and Power
• Rethinking Leadership
• Public Goods and Values

We asked you to contribute visions and ideas to the theme “Just Power” – Power in the sense of its use in various areas of politics and economics. We expected a professional work which could be an essay, a scenario, a project report or proposal, a multi- media presentation or an entrepreneurial concept. It should be constructive, provocative or instructive, inspiring thoughts and actions as well as introucing new approaches and unconventional ideas. Within the framework of the theme you may choose between three subtopics for your contribution.

2010 – Entrepreneurs – Agents of Change

Ainur begim (kz).

1st place – University of Oslo

James Clear (USA)

Christoph birkholz (de).

• What makes an entrepreneur an “agent of change”?
• Changing of the guard: Who are the new entrepreneurs?
• Corporate entrepreneurship within large companies: a concept for the future or a mere pie in the sky?
• Entrepreneurship between environmental risks and opportunities: What does it take to succeed?

2009 – Revival of Political and Economic Boundaries

Shofwan al-banna choiruzzad (id), jason george (us), aris trantidis (gr), 1999 – 2008, 2008  – global capitalism – local values, guillaume darier (ch), jacobus cilliers (za), feerasta aniqa (nz), christoph matthias paret (de), 2007  – the power of natural resources, benjamin block (us), gustav borgefalk (se), kevin chua (ph), 2006  – inspiring europe, maximilian freier (de), chen yesh (sg), elidor mëhilli (al), william english (us), 2005  – liberty, trust and responsibility, christian h. harding (de), luana badiu (ro), norbert jungmichel (de), fabien curto millet (es /fr), 2004  – the challenges to growth and prosperity, ravi rauniyar (np), peter g. kirchschläger (at / ch), xin dong (cn), 2003 – seeking responses in times of uncertainty, stefanie klein (de), rosita shivacheva (bg), 2002 – pushing limits – questioning goals, constantine (dino) asproloupos (ca / gr), manita jitngarmkusol (th), 2001 – new balance of power, marion mühlberger (at), uwe seibel (de), moses ekra (ci / ca), gerald tan (my), 2000 – time, martin von brocke (de), pei-fu hsieh (tw), tzvetelina tzvetkova (bg), 1999 – new markets, new technologies, new skills, peter doralt (fr), valérie feldmann (de), rajen makhijani (in).

“Partaking in the competition was one of the best decisions I’ve ever made. Not only was I able to come to St. Gallen and meet incredible young entrepreneurs and leaders who I’m still in contact with, but it provided me the opportunity to develop and share ideas with key decision-makers. The main idea I submitted was for a new way to finance retraining and healthcare at no cost to individuals or governments. Given the COVID- 19 pandemic, this idea is needed now more than ever, so I’m currently implementing the idea through a new organization I’ve established called FORTE ( Financing Of Return To Employment ).” NAT WARE , Founder & CEO of FORTE, Leader of Tomorrow at the 47th and 48th St. Gallen Symposium

Essay  COMPETITION

2024 global essay prize, registrations are now open all essayists must register  here  before friday 31 may, 2024.

The John Locke Institute encourages young people to cultivate the characteristics that turn good students into great writers: independent thought, depth of knowledge, clear reasoning, critical analysis and persuasive style. Our Essay Competition invites students to explore a wide range of challenging and interesting questions beyond the confines of the school curriculum.

Entering an essay in our competition can build knowledge, and refine skills of argumentation. It also gives students the chance to have their work assessed by experts. All of our essay prizes are judged by a panel of senior academics drawn from leading universities including Oxford and Princeton, under the leadership of the Chairman of Examiners, former Cambridge philosopher, Dr Jamie Whyte.

The judges will choose their favourite essay from each of seven subject categories - Philosophy, Politics, Economics, History, Psychology, Theology and Law - and then select the winner of the Grand Prize for the best entry in any subject. There is also a separate prize awarded for the best essay in the junior category, for under 15s.

Q1. Do we have any good reasons to trust our moral intuition?

Q2. Do girls have a (moral) right to compete in sporting contests that exclude boys?

Q3. Should I be held responsible for what I believe?

Q1. Is there such a thing as too much democracy?

Q2. Is peace in the West Bank and the Gaza Strip possible?

Q3. When is compliance complicity?

Q1. What is the optimal global population?  

Q2. Accurate news reporting is a public good. Does it follow that news agencies should be funded from taxation?

Q3. Do successful business people benefit others when making their money, when spending it, both, or neither?

Q1. Why was sustained economic growth so rare before the later 18th century and why did this change?

Q2. Has music ever significantly changed the course of history?

Q3. Why do civilisations collapse? Is our civilisation in danger?

Q1. When, if ever, should a company be permitted to refuse to do business with a person because of that person’s public statements?

Q2. In the last five years British police have arrested several thousand people for things they posted on social media. Is the UK becoming a police state?

Q3. Your parents say that 11pm is your bedtime. But they don’t punish you if you don’t go to bed by 11pm. Is 11pm really your bedtime?

Q1. According to a study by researchers at four British universities, for each 15-point increase in IQ, the likelihood of getting married increases by around 35% for a man but decreases by around 58% for a woman. Why?

In the original version of this question we misstated a statistic. This was caused by reproducing an error that appeared in several media summaries of the study. We are grateful to one of our contestants, Xinyi Zhang, who helped us to see (with humility and courtesy) why we should take more care to check our sources. We corrected the text on 4 April. Happily, the correction does not in any way alter the thrust of the question.

Q2. There is an unprecedented epidemic of depression and anxiety among young people. Can we fix this? How?

Q3. What is the difference between a psychiatric illness and a character flaw?

Q1. “I am not religious, but I am spiritual.” What could the speaker mean by “spiritual”?

Q2. Is it reasonable to thank God for protection from some natural harm if He is responsible for causing the harm?

Q3. Does God reward those who believe in him? If so, why?

JUNIOR prize

Q1. Does winning a free and fair election automatically confer a mandate for governing?

Q2. Has the anti-racism movement reduced racism?

Q3. Is there life after death?

Q4. How did it happen that governments came to own and run most high schools, while leaving food production to private enterprise? 

Q5. When will advancing technology make most of us unemployable? What should we do about this?

Q6. Should we trust fourteen-year-olds to make decisions about their own bodies? 

ENTRY REQUIREMENTS & FURTHER DETAILS

Please read the following carefully.

Entry to the John Locke Institute Essay Competition 2024 is open to students from any country.

Registration  

Only candidates who registered before the registration deadline of Friday, 31 May 2024 may enter this year's competition. To register, click here .  

All entries must be submitted by 11.59 pm BST on  the submission deadline: Sunday, 30 June 2024 .  Candidates must be eighteen years old, or younger, on that date. (Candidates for the Junior Prize must be fourteen years old, or younger, on that date.)

Entry is free.

Each essay must address only one of the questions in your chosen subject category, and must not exceed 2000 words (not counting diagrams, tables of data, endnotes, bibliography or authorship declaration). 

The filename of your pdf must be in this format: FirstName-LastName-Category-QuestionNumber.pdf; so, for instance, Alexander Popham would submit his answer to question 2 in the Psychology category with the following file name:

Alexander-Popham-Psychology-2.pdf

Essays with filenames which are not in this format will be rejected.

The candidate's name should NOT appear within the document itself. 

Candidates should NOT add footnotes. They may, however, add endnotes and/or a Bibliography that is clearly titled as such.

Each candidate will be required to provide the email address of an academic referee who is familiar with the candidate's written academic work. This should be a school teacher, if possible, or another responsible adult who is not a relation of the candidate. The John Locke Institute will email referees to verify that the essays submitted are indeed the original work of the candidates.

Submissions may be made as soon as registration opens in April. We recommend that you submit your essay well in advance of th e deadline to avoid any last-minute complications.

Acceptance of your essay depends on your granting us permission to use your data for the purposes of receiving and processing your entry as well as communicating with you about the Awards Ceremony Dinner, the academic conference, and other events and programmes of the John Locke Institute and its associated entities.  

Late entries

If for any reason you miss the 30 June deadline you will have an opportunity to make a late entry, under two conditions:

a) A late entry fee of 20.00 USD must be paid by credit card within twenty-four hours of the original deadline; and

b) Your essay must be submitted  before 11.59 pm BST on Wednesday, 10 July 2024.

To pay for late entry, a registrant need only log into his or her account, select the relevant option and provide the requested payment information.

Our grading system is proprietary. Essayists may be asked to discuss their entry with a member of the John Locke Institute’s faculty. We use various means to identify plagiarism, contract cheating, the use of AI and other forms of fraud . Our determinations in all such matters are final.

Essays will be judged on knowledge and understanding of the relevant material, the competent use of evidence, quality of argumentation, originality, structure, writing style and persuasive force. The very best essays are likely to be those which would be capable of changing somebody's mind. Essays which ignore or fail to address the strongest objections and counter-arguments are unlikely to be successful .

Candidates are advised to answer the question as precisely and directly as possible.

The writers of the best essays will receive a commendation and be shortlisted for a prize. Writers of shortlisted essays will be notified by 11.59 pm BST on Wednesday, 31 July. They will also be invited to London for an invitation-only academic conference and awards dinner in September, where the prize-winners will be announced. Unlike the competition itself, the academic conference and awards dinner are not free. Please be aware that n obody is required to attend either the academic conference or the prize ceremony. You can win a prize without travelling to London.

All short-listed candidates, including prize-winners, will be able to download eCertificates that acknowledge their achievement. If you win First, Second or Third Prize, and you travel to London for the ceremony, you will receive a signed certificate. 

There is a prize for the best essay in each category. The prize for each winner of a subject category, and the winner of the Junior category, is a scholarship worth US$2000 towards the cost of attending any John Locke Institute programme, and the essays will be published on the Institute's website. Prize-giving ceremonies will take place in London, at which winners and runners-up will be able to meet some of the judges and other faculty members of the John Locke Institute. Family, friends, and teachers are also welcome.

The candidate who submits the best essay overall will be awarded an honorary John Locke Institute Junior Fellowship, which comes with a US$10,000 scholarship to attend one or more of our summer schools and/or visiting scholars programmes. 

The judges' decisions are final, and no correspondence will be entered into.

R egistration opens: 1 April, 2024.

Registration deadline: 31 May, 2024. (Registration is required by this date for subsequent submission.)

Submission deadline: 30 June, 2024.

Late entry deadline: 10 July, 2024. (Late entries are subject to a 20.00 USD charge, payable by 1 July.)

Notification of short-listed essayists: 31 July, 2024.

Academic conference: 20 - 22 September, 2024.

Awards dinner: 21 September, 2024.

Any queries regarding the essay competition should be sent to [email protected] . Please be aware that, due to the large volume of correspondence we receive, we cannot guarantee to answer every query. In particular, regrettably, we are unable to respond to questions whose answers can be found on our website.

If you would like to receive helpful tips  from our examiners about what makes for a winning essay or reminders of upcoming key dates for the 2024  essay competition, please provide your email here to be added to our contact list. .

Thanks for subscribing!

The John Locke Institute's Global Essay Prize is acknowledged as the world's most prestigious essay competition. 

We welcome tens of thousands of submissions from ambitious students in more than 150 countries, and our examiners - including distinguished philosophers, political scientists, economists, historians, psychologists, theologians, and legal scholars - read and carefully assess every entry. 

I encourage you to register for this competition, not only for the hope of winning a prize or commendation, and not only for the chance to join the very best contestants at our academic conference and gala ceremony in London, but equally for the opportunity to engage in the serious scholarly enterprise of researching, reflecting on, writing about, and editing an answer to one of the important and provocative questions in this year's Global Essay Prize. 

We believe that the skills you will acquire in the process will make you a better thinker and a more effective advocate for the ideas that matter most to you.

I hope to see you in September!

Best wishes,

Jamie Whyte, Ph.D. (C ANTAB ) 

Chairman of Examiners

Q. I missed the registration deadline. May I still register or submit an essay?

A. No. Only candidates who registered before 31 May will be able to submit an essay. 

Q. Are footnote s, endnotes, a bibliography or references counted towards the word limit?

A. No. Only the body of the essay is counted. 

Q. Are in-text citations counted towards the word limit? ​

A. If you are using an in-text based referencing format, such as APA, your in-text citations are included in the word limit.

Q. Is it necessary to include foo tnotes or endnotes in an essay? ​

A. You  may not  include footnotes, but you may include in-text citations or endnotes. You should give your sources of any factual claims you make, and you should ackn owledge any other authors on whom you rely.​

Q. I am interested in a question that seems ambiguous. How should I interpret it?

A. You may interpret a question as you deem appropriate, clarifying your interpretation if necessary. Having done so, you must answer the question as directly as possible.

Q. How strict are  the age eligibility criteria?

A. Only students whose nineteenth birthday falls after 30 June 2024 will be eligible for a prize or a commendation. In the case of the Junior category, only students whose fifteenth birthday falls after 30 June 2024 will be eligible for a prize or a commendation. 

Q. May I submit more than one essay?

A. Yes, you may submit as many essays as you please in any or all categories.

Q. If I am eligible to compete in the Junior category, may I also (or instead) compete in another category?

A. Yes, you may.

Q. May I team up with someone else to write an essay?  

A. No. Each submitted essay must be entirely the work of a single individual.

Q. May I use AI, such as ChatGPT or the like, in writing my essay?

A. All essays will be checked for the use of AI. If we find that any content is generated by AI, your essay will be disqualified. We will also ask you, upon submission of your essay, whether you used AI for  any  purpose related to the writing of your essay, and if so, you will be required to provide details. In that case, if, in our judgement, you have not provided full and accurate details of your use of AI, your essay will be disqualified. 

Since any use of AI (that does not result in disqualification) can only negatively affect our assessment of your work relative to that of work that is done without using AI, your safest course of action is simply not to use it at all. If, however, you choose to use it for any purpose, we reserve the right to make relevant judgements on a case-by-case basis and we will not enter into any correspondence. 

Q. May I have someone else edit, or otherwise help me with, my essay?

A. You may of course discuss your essay with others, and it is perfectly acceptable for them to offer general advice and point out errors or weaknesses in your writing or content, leaving you to address them.

However, no part of your essay may be written by anyone else. This means that you must edit your own work and that while a proofreader may point out errors, you as the essayist must be the one to correct them. 

Q. Do I have to attend the awards ceremony to win a prize? ​

A. Nobody is required to attend the prize ceremony. You can win a prize without travelling to London. But if we invite you to London it is because your essay was good enough - in the opinion of the First Round judges - to be at least a contender for First, Second or Third Prize. Normally the Second Round judges will agree that the short-listed essays are worth at least a commendation.

Q. Is there an entry fee?

A. No. There is no charge to enter our global essay competition unless you submit your essay after the normal deadline, in which case there is a fee of 20.00 USD .

Q. Can I receive a certificate for my participation in your essay competition if I wasn't shortlisted? 

A. No. Certificates are awarded only for shortlisted essays. Short-listed contestants who attend the award ceremony in London will receive a paper certificate. If you cannot travel to London, you will be able to download your eCertificate.

Q. Can I receive feedba ck on my essay? 

A. We would love to be able to give individual feedback on essays but, unfortunately, we receive too many entries to be able to comment on particular essays.

Q. The deadline for publishing the names of short-listed essayists has passed but I did not receive an email to tell me whether I was short-listed.

A. Log into your account and check "Shortlist Status" for (each of) your essay(s).

Q. Why isn't the awards ceremony in Oxford this year?

A. Last year, many shortlisted finalists who applied to join our invitation-only academic conference missed the opportunity because of capacity constraints at Oxford's largest venues. This year, the conference will be held in central London and the gala awards dinner will take place in an iconic London ballroom. 

TECHNICAL FAQ s

Q. The system will not accept my essay. I have checked the filename and it has the correct format. What should I do?  

A. You have almost certainly added a space before or after one of your names in your profile. Edit it accordingly and try to submit again.

Q. The profile page shows my birth date to be wrong by a day, even after I edit it. What should I do?

A. Ignore it. The date that you typed has been correctly input to our database. ​ ​

Q. How can I be sure that my registration for the essay competition was successful? Will I receive a confirmation email?

A. You will not receive a confirmation email. Rather, you can at any time log in to the account that you created and see that your registration details are present and correct.

TROUBLESHOOTING YOUR SUBMISSION

If you are unable to submit your essay to the John Locke Institute’s global essay competition, your problem is almost certainly one of the following.

If so, please proceed as indicated.

1) PROBLEM: I receive the ‘registrations are now closed’ message when I enter my email and verification code. SOLUTION. You did not register for the essay competition and create your account. If you think you did, you probably only provided us with your email to receive updates from us about the competition or otherwise. You may not enter the competition this year.

2) PROBLEM I do not receive a login code after I enter my email to enter my account. SOLUTION. Enter your email address again, checking that you do so correctly. If this fails, restart your browser using an incognito window; clear your cache, and try again. Wait for a few minutes for the code. If this still fails, restart your machine and try one more time. If this still fails, send an email to [email protected] with “No verification code – [your name]” in the subject line.

SUBMITTING AN ESSAY

3) PROBLEM: The filename of my essay is in the correct format but it is rejected. SOLUTION: Use “Edit Profile” to check that you did not add a space before or after either of your names. If you did, delete it. Whether you did or did not, try again to submit your essay. If submission fails again, email [email protected] with “Filename format – [your name]” in the subject line.

4) PROBLEM: When trying to view my submitted essay, a .txt file is downloaded – not the .pdf file that I submitted. SOLUTION: Delete the essay. Logout of your account; log back in, and resubmit. If resubmission fails, email [email protected] with “File extension problem – [your name]” in the subject line.

5) PROBLEM: When I try to submit, the submission form just reloads without giving me an error message. SOLUTION. Log out of your account. Open a new browser; clear the cache; log back in, and resubmit. If resubmission fails, email [email protected] with “Submission form problem – [your name]” in the subject line.

6) PROBLEM: I receive an “Unexpected Error” when trying to submit. SOLUTION. Logout of your account; log back in, and resubmit. If this resubmission fails, email [email protected] with “Unexpected error – [your name]” in thesubject line. Your email must tell us e xactly where in the submission process you received this error.

7) PROBLEM: I have a problem with submitting and it is not addressed above on this list. SOLUTION: Restart your machine. Clear your browser’s cache. Try to submit again. If this fails, email [email protected] with “Unlisted problem – [your name]” in the subject line. Your email must tell us exactly the nature of your problem with relevant screen caps.

READ THIS BEFORE YOU EMAIL US.

Do not email us before you have tried the specified solutions to your problem.

Do not email us more than once about a single problem. We will respond to your email within 72 hours. Only if you have not heard from us in that time may you contact us again to ask for an update.

If you email us regarding a problem, you must include relevant screen-shots and information on both your operating system and your browser. You must also declare that you have tried the solutions presented above and had a good connection to the internet when you did so.

If you have tried the relevant solution to your problem outlined above, have emailed us, and are still unable to submit before the 30 June deadline on account of any fault of the John Locke Institute or our systems, please do not worry: we will have a way to accept your essay in that case. However, if there is no fault on our side, we will not accept your essay if it is not submitted on time – whatever your reason: we will not make exceptions for IT issues for which we are not responsible.

We reserve the right to disqualify the entries of essayists who do not follow all provided instructions, including those concerning technical matters.

Global Competitiveness and Outsourcing in Business Essay

Globalization, especially economic globalization, has led to a competitive business environment. To meet the demands of globalization, firms have undertaken various strategies including outsourcing and international diversification of their operations. Outsourcing has the advantage of lowering operational and net production costs.

However, companies outsourcing abroad must consider various factors associated with the foreign supplier business practices. In addition, to enhance global competitiveness, supervisors need to identify specified personality traits, which sometimes result to problematic workplace behaviors.

In this way, employee performance can be improved. Globalization has some benefits and associated costs to the economies, regionally and globally. In particular, the distribution of the benefits often raises the issue of equity and has the potential of resulting to conflicts.

What are the key issues for consideration before sourcing production abroad?

In recent years, there has been a trend where manufacturers in industrialized nations outsource production, call centers, and vendor services to companies abroad.

Given this increasing trend, there are some issues which American companies must consider when outsourcing vendor services or manufacturing from either domestic or foreign sources. Among the principal issues are the issues of product pricing, product trade name, product warranties and contract enforcement issues.

Product pricing and contractual issues involving the vendor and the distributor often arise in any outsourcing from foreign sources (Kotler, & Keller, 2009, p. 116). In particular, contention as to which party between the vendor and the distributor should incur the initial cost of product design and development often arise in outsourcing.

The supplier may not bear the initial cost of product development if the projected return from the investment is low. Additionally, the supplier may prefer a long-term contractual agreement, which ensure sustainability by generating enough returns to cover the tooling costs.

The distributor, on the other hand, may consider outsourcing services from a different firm if the product is not performing well in the market (Kotler, & Keller, 2009, p. 114). In the light of this, the two parties often agree on a multi-year form of contract, which provide for reimbursement of initial production costs between the parties. However, multi-layer contracts often raise the issues of product pricing.

As the production costs are dependent on volatile labor rates and material prices, developing a formula for pricing is often a challenge. Often, the foreign manufacturer proposes a price adjustment yearly. However, the American market may opt for cheaper alternative products. Therefore, the American firm should advance or reimburse the tooling costs to a foreign firm, which, however, should be returned upon contract termination.

Issues of products liability and cover also arise in outsourcing agreements. The American distributor may prefer that the costs resulting from personal injuries or damage to property be borne by the foreign firm or its insurance cover.

However, in some countries such as China, it is often difficult to transfer coverage or product liability to the foreign firm. In effect, most Chinese firms may not provide coverage for product liability. This implies that the American company should consider the insurance costs during outsourcing contract negotiations.

Product warranty is another issue that affects outsourcing agreements. Often, the product warranty is a preserve of the foreign manufacturer.

Since customer claims regarding defective products may not be covered by the product liability insurance, the American firm must seek for warranty for protection. However, since product design involves collaboration between the two parties, the foreign firm may fail to give a long-term product warranty. Additionally, warranty issues such as shipping costs or repair costs should be addressed during contract negotiations.

Fluctuations in currency exchange rates present challenges to outsourcing. Often, the American firm may prefer payment to be made in dollars to avoid the risks associated with currency fluctuations. However, the foreign firm may not prefer this especially for large transactions. Trade name or logo is another issue that American firms should consider when outsourcing from foreign companies.

Often, since the products are primarily meant for the American market, the foreign firm will apply the logo and trade name of the American company. However, in the agreement should strictly limit the use of the logo and name to the product(s) only.

Additionally, enforcement issues are often a challenge. In case of disputes, litigation in foreign jurisdictions is problematic due to variations in business laws across countries. However, arbitration can resolve disputes compared to litigation.

What are the strategies for dealing with three types of difficult workers? First, you have to identify the type and then provide the strategies

Difficult people demonstrate behaviors that make it difficult for other people to work with them. Difficult human behaviors originate from either hereditary factors or formative life experience (Meredith, & Shafer, 2010, p. 76). In order to deal with difficult behaviors effectively, it is essential for supervisors to recognize the role of personality in shaping difficult behaviors.

Four personality traits exhibit difficult behaviors in the workplace: dominant, patient, extrovert and conformist personality traits. The dominants exhibit many qualities that make them easily identifiable. They are self-assertive and active in their tasks and aim to accomplish the goals of a project.

They lead by example, enjoy challenging tasks, and are confident decision makers. Most importantly, the dominant personalities prefer to control people and resources to achieve specified goals.

However, dominants often exhibit difficult behaviors in response to situations they dislike. Dominants sometimes can exhibit insensitivity towards other people’s feelings especially those who restrict their goal accomplishment. The strategy to counter this behavior is to confront them and encourage them to consider other people’s feelings or perceptions before taking any action.

They are usually apologetic and usually respond accordingly (Meredith, & Shafer, 2010, p. 82). Other dominants’ difficult behaviors include their constant agitation for change and innovation, which may be disruptive to others.

The response to this should be to ask them to involve the other people’s input before taking action. Additionally, the supervisor can request them to communicate their change plans openly and expect feedback before taking action.

Another problematic behavior shown by dominants is the tendency to ignore authority, which can be disruptive especially to the supervisor. The supervisor should ask them to evaluate their behavior from the supervisor’s perspective and explain how ignoring established authority can create misunderstandings.

The dominant’s desire for a challenge and risks make other people anxious and uncomfortable, which kill teamwork spirit. To counter this, the supervisor should ask them to offer solutions or alternatives to current problems before trying a new venture.

The extroverts are more people-oriented than task-oriented and thus, excel in activities that involve teams. However, extroverts sometimes exhibit defensive, often emotional, when their reputation is threatened especially with regard to their social standing in a group. Additionally, due to their outgoing nature, extroverts find it difficult to remain focused on a given task, follow instructions, or rules, and be punctual in meetings.

To help extrovert employees, supervisors should assign them tasks that involve people or teams. Additionally, complimenting their efforts during teamwork can motivate them. The supervisor should also pay attention to their opinions and confront them when they fail to follow rules or protocols.

The patient personality types, on the other hand, exhibit a balance with regard to task and tasks. They show patience during task performance and prefer to handle one task at ago with no interruptions. They are adept at setting priorities and emphasize on quality when performing tasks. However, patient personality individuals find it difficult to take risks or adopt change.

Additionally, they are concerned more of injustice in the workplace and take more time pursuing fairness. To help patient personality individuals, supervisors should provide sufficient information prior to implementing any change or innovation. Moreover, fair treatment of all employees and fair resolution of workplace conflicts can motivate patient personality people.

What are the executive traits? Apply these traits to a global perspective

The impact of globalization on organizations is profound. This calls for a shift in leadership styles in order to confront the emerging challenges of globalization. The challenges of technological advancement and capital and labor mobility call for strategic leaders with more diverse attributes.

A Combination of these characteristics is essential for the effective management of an organization in the wake of globalization and environmental turbulence (Cohen, & Levinthal, 1990, p. 128). Essential executive traits include the capacity to absorb changes especially in technology, future orientation, pro-activity, and the ability to take risks.

One of the principal executive traits of a strategic leader is absorptive capacity. This means that the leader should have the capacity to obtain and analyze new information from an innovation perspective and readily embrace institutional change. Cohen and Levinthal (1992, p.129) hold the view that, absorptive capacity stems from prior knowledge, previous work-related roles and individual cognitive structures.

Often, the gatekeepers and line managers at strategic levels of the organization should exhibit absorptive capacity especially with regard to research and development (Cohen, & Levinthal, 1990, p. 131). Absorptive capacity allows leaders to make effective decisions in the increasingly complex global environment.

Futuristic or visionary is another noteworthy characteristic of efficient leaders. Rowe (2001, p.81) contends that, strategic business leaders should be futuristic with regard to implications of present risks or challenges on future business viability. Additionally, this quality is paramount in making projections about future challenges and competition issues.

This implies proactive use of current information to predict future market conditions both in the short-term and long-term basis. Accordingly, effective executives possess a vision, are inspirational and constantly forecast the future based on facts and values.

The global business environment is highly dynamic. Therefore, future orientation gives the CEO to the capacity to make strategic decisions based on powerful predictions of the future business environment.

Although, conceptualization and strategic decision-making leadership are indispensable qualities of an executive, the capacity to take action in a timely manner is of most significance. The actual action should be timely in order to achieve the desired impact.

Rowe (2001, p.82) defines the ability to undertake an action as the capacity to implement necessary measures at appropriate strategic inflection points (SIPs) in order to achieve optimal impact. In this regard, SIPs can involve technological changes, innovations, or improved products that revive and reinvent the old systems.

Rowe argues that, demographically, younger CEOs have a higher likelihood to act compared to older CEOs who prefer the status quo (2001, p. 85). In this respect, executives must be transformational with regard to change and revival. They know how to utilize information to predict future actions and know the opportune time at which action will have the most impact.

Risk-taking is an essential quality of effective business executives. It involves effective cost-benefit analysis of available options to make a decision event with scanty information. Under these situations of uncertainty, the chances of success or failure are not clear. Effective CEOs must possess relevant skills to evaluate potential risks and be bold to take action.

However, they should be flexible enough to avoid potential disasters associated with poor managerial decisions. Risk-taking is an essential quality of innovative executives (Cohen, & Levinthal, 1990, p. 132).

It determines success or failure of an organization both in the short-term and long-term basis. Risk-taking is a fundamental trait in today’s global business environment that is characterized with many opportunities, risks, and stiff competition.

What are the factors that can draw companies into the international area? Expand with detail explanation for each of the factors

Many factors contribute to expansion of the domestic firms to international markets. These factors are the driving forces behind international diversification of local firms and are of immense significance to the investors. Size, penetration projections, market access, annual growth earnings, leveraging advantage are some of the factors that drive publicly traded organizations to diversify their operations internationally.

Baek (2004, p. 135) argues that, a firm’s size can affect its benefits and costs for two reasons; firstly, a larger firm may experience a comparatively larger change in its income, and secondly, the large income change may affect costs and benefits. However, this depends on the firm’s size. In this regard, a firm’s size influences the decision to expand to international markets to minimize its costs and increase the benefits.

Another factor that drives a firm’s internationalization plans is a competitive advantage. Baek (2004, p. 137) contends that, accounting practices of a firm are associated with their size and leverage.

This implies that firms that seek competitive advantage are more risky than risk-averse firms are. In this regard, such firms have a culture of taking risks and are thus, more likely to diversify their operations in markets abroad. Therefore, the leveraging nature of a firm determines its inclination to risk exposure and consequently its decision to invest abroad.

The desire to enhance a firm’s penetration is another factor that drives a firm to international markets. Increased competition in the domestic market often drives some firms to overseas markets to explore opportunities for higher growth (Baek, 2004, p. 139). The expansions also aim at increasing brand recognition in overseas markets and consequently achieve a higher market share.

Of most significance, however, is the firm’s level of penetration of the domestic market. Enhanced penetration of the local market drives a firm to international diversification. Additionally, the level of penetration of the local market also determines a firm’s decision to diversify internationally.

A declining level of penetration, especially of large firms, will influence its decision to expand to overseas markets. Therefore, a change in the penetration rate in the domestic market affects a firm’s decision to expand.

The annual earnings from the domestic market also affect a firm’s decision to expand abroad. In other words, the growth and profitability of a firm bears a positive relationship with its international diversification plans. A firm’s financial performance in the domestic arena determines its decision to establish more subsidiaries both locally and abroad.

Nevertheless, according to Baek (2004, p. 141), if a firm is experiencing positive financial performance from its domestic operations, it may delay expanding to overseas markets, which are more risky. The condition of the domestic market also influences a firm’s decision to diversify its operations internationally.

A rise in the domestic consumer spending, or excess annual market return, will create the impression that there is more room for domestic expansion, which will delay overseas expansion. Conversely, a decline in consumer spending, as indicated by lower annual market returns, will imply a saturated domestic market and hence lead to internationalization of a firm’s operations.

Discuss the costs and benefits of globalization. Provide examples of how globalization has helped or harmed individual nations and the world economy

Globalization is an influential phenomenon that takes multiple dimensions: political, economic, environment, social, health, and cultural aspects. Contrasting views exist with regard to economic globalization; while most people hold the view that it is beneficial to the global economy, others contend that, its effects are detrimental.

Globalization in the context of the world economy encompasses increased global trade, improved foreign exchanges, and an open international trade across national boundaries. It means increased technology transfer, enhanced capital and labor mobility as well as free flows of ideas internationally. The positive effects of globalization stem from enhanced competition on the global front.

Globalization has enhanced competition on a global scale, which has associated beneficial effects in terms of output and production efficiency. Competition enhances market diversification, which brings the benefits of a market system: division of labor and specialization (Eleonore, & Youngs, 1996, p. 157). Specialization and the division of labor have implications on production output and efficiency on a national scale and globally.

Additionally, globalization leads to economies of scale, which has the potential of reducing production costs and subsequently the prices of commodities or services. Lower prices of goods and services attract investments, which stimulate economic growth in countries.

Another benefit of globalization involves the gains resulting from bilateral and multilateral trade agreements. In such agreements, both parties (countries) stand to gain through trade exchanges at the organizational level, economic blocs, national, or continental levels.

Economic globalization often leads to the coordination of production activities and facilitation of labor and capital mobility on a global basis. This enhances productivity both nationally and regionally. In addition, accelerated technology transfer fosters continual innovation and competition on a global scale.

Overall, the economic globalization benefits are potentially advantageous to all nations, as increased output results to higher GDP and wages, and by extension, improved standards of living. However, equitable distribution of globalization benefits is an issue globally.

Globalization also has its costs has the potential of creating problems and conflicts. Among its main costs is the issue of equity of the benefits resulting from globalization between nations, regions, or organizations (Giddens, 2000, p. 69). Much of the gains of globalization end up in developed nations, which results to economic inequalities that have the potential of resulting to international conflicts.

For example, East Asia economies are growing at such a rapid rate due to economic globalization while the economies of developing nations in Africa and Latin America remain stagnated. This will result to polarization of incomes on a global scale as the middle-income economies become richer, and the developing economies become poorer. Additionally, the issue of equity in distribution of the gains of globalization is often a challenge.

Another problem resulting from economic globalization is regional instability resulting from economic interdependencies regionally and globally. Evidence from recent financial crises indicates that, fluctuations in a given country’s economy, in terms of exchange rates or domestic liquidity, affect regional and global economies.

The 2007 US financial crisis is an outstanding example as it resulted to a worldwide recession of financial markets. This implies that, interconnected economies are more vulnerable to a financial crisis from a single economy (Eleonore, & Youngs, 1996, p. 161). The recession attracted protectionism economic measures that have the potential of creating conflicts and economic warfare.

Another problem associated with globalization is the tendency of the control of national economies to shift from governments to international entities such as multinational organizations. This has the potential of undermining national sovereignty, which result to extreme protectionism policies, fundamentalism, and xenophobic activism.

Reference List

Baek, H.Y. (2004). Corporation Diversification and Performance: Evidence on Production Efficiency. Journal of Multinational Financial Management, 14 , 135-142.

Cohen, W., & Levinthal, D. (1990). Absorptive Capacity: A New Perspective on Learning and Innovation. Administrative Science Quarterly, 35, 128-132.

Eleonore, K., & Youngs, G. (1996). Globalization: Theory and Practice, New York: Pinter.

Giddens, A. (2000). Runaway World: How Globalization Is Reshaping Our Lives, London: Routledge.

Kotler, P., & Keller, K. (2009). Marketing Management . New York: Prentice Hall.

Meredith, J. R., & Shafer, M., S. (2010). Operations Management for MBA. London: John Wiley & Sons.

Rowe, W. G. (2001). Creating Wealth in Organizations: The Role of Strategic Leadership. Academy Of Management Executive, 15 (1), 81–89.

• Chicago (A-D)
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IvyPanda. (2019, May 15). Global Competitiveness and Outsourcing in Business. https://ivypanda.com/essays/global-competitiveness-essay/

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1. IvyPanda . "Global Competitiveness and Outsourcing in Business." May 15, 2019. https://ivypanda.com/essays/global-competitiveness-essay/.

Bibliography

IvyPanda . "Global Competitiveness and Outsourcing in Business." May 15, 2019. https://ivypanda.com/essays/global-competitiveness-essay/.

• Outsourcing in Overview and History: The Great Industrial Revolution and the Beginning of Outsourcing in the Business World
• Outsourcing in Public and Private Entities
• Outsourcing Policies and Economic Development
• Outsourcing Evolution in Poland
• Outsourcing’s Benefits in Management
• Offshore Outsourcing: What's Good?
• Importance of Outsourcing in Purchasing
• Outsourcing and Its Effects
• The Benefits of Outsourcing
• Penetration Test, Its Methodology and Process
• Internet and Everyday Life
• Outsourcing and Due Diligence
• Globalization Impacts on Developed and Developing Countries
• In what ways did Globalization affect financial management?
• Globalization and sustainable development

Chapter 1 Competing in a Global World

To most of us, globalization—as a political, economic, social, and technological force—appears all but unstoppable. The ever-faster flow of information across the globe has made people aware of the tastes, preferences, and lifestyles of citizens in other countries. Through this information flow, we are all becoming—at varying speeds and at least in economic terms—global citizens. This convergence is controversial, even offensive, to some who consider globalization a threat to their identity and way of life. It is not surprising, therefore, that globalization has evoked counter forces aimed at preserving differences and deepening a sense of local identity.

Yet, at the same time, we increasingly take advantage of what a global economy has to offer—we drive BMWs and Toyotas, work with an Apple or IBM notebook, communicate with a Nokia phone or BlackBerry, wear Zara clothes or Nike sneakers, drink Coca-Cola, eat McDonald’s hamburgers, entertain the kids with a Sony PlayStation, and travel with designer luggage. This is equally true for the buying habits of businesses. The market boundaries for IBM global services, Hewlett-Packard computers, General Electric (GE) aircraft engines, or PricewaterhouseCoopers consulting are no longer defined in political or geographic terms. Rather, it is the intrinsic value of the products and services that defines their appeal. Like it or not, we are living in a global economy.

1.1 How Global Are We?

In 1983, Theodore Levitt, the late Harvard Business School professor and editor of the Harvard Business Review , wrote a controversial article entitled “The Globalization of Markets.” In it, he famously stated, “The globalization of markets is at hand. With that, the multinational commercial world nears its end, and so does the multinational corporation… The multinational A firm that operates in a number of countries, and adjust its products and processes in each, at high relative cost. operates in a number of countries, and adjust its products and processes in each, at high relative cost. The global corporation A firm that operates in a number of countries, and sells the same products and services in the same way everywhere. operates with resolute constancy… it sells the same things in the same way everywhere” Levitt (1983, May–June).

Levitt both overestimated and underestimated globalization. He did not anticipate that some markets would react against globalization, especially against Western globalization. He also underestimated the power of globalization to transform entire nations to actually embrace elements of global capitalism, as is happening in the former Soviet Union, China, and other parts of the world. He was right, however, about the importance of branding and its role in forging the convergence of consumer preferences on a global scale. Think of Coca-Cola, Starbucks, McDonald’s, or Google. Ghemawat (2007a), p. 9.

More than 20 years later, in 2005, Thomas Friedman, author of The World is Flat: A Brief History of the Twenty-First Century , had much the same idea, this time focused on the globalization of production rather than of markets. Friedman argues that a number of important events, such as the birth of the Internet, coincided to “flatten” the competitive landscape worldwide by increasing globalization and reducing the power of states. Friedman’s list of “flatteners” includes the fall of the Berlin Wall; the rise of Netscape and the dot-com boom that led to a trillion-dollar investment in fiber-optic cable; the emergence of common software platforms and open source code enabling global collaboration; and the rise of outsourcing, offshoring, supply chaining, and in-sourcing. According to Friedman, these flatteners converged around the year 2000, creating “a flat world A global, web-enabled platform for multiple forms of sharing knowledge and work, irrespective of time, distance, geography and increasingly, language. : a global, web-enabled platform for multiple forms of sharing knowledge and work, irrespective of time, distance, geography and increasingly, language.” Friedman (2007), p. 50. And, he observed, at the very moment this platform emerged, three huge economies materialized—those of India, China, and the former Soviet Union, and “three billion people who were out of the game, walked onto the playing field.” Friedman (2007), p. 205.

Taking a different perspective, Harvard Business School professor Pankaj Ghemawat disputes the idea of fully globalized, integrated, and homogenized future. Instead, he argues that differences between countries and cultures are larger than is generally acknowledged and that “ semiglobalization ” is the real state of the world today and is likely to remain so for the foreseeable future. To support his contention, he observes that the vast majority of all phone calls, web traffic, and investment around the world remains local; that more than 90% of the fixed investment around the world is still domestic; that while trade flows are growing, the ratio of domestic to international trade is still substantial and is likely to remain so; and, crucially, that borders and distance still matter and that it is important to take a broad view of the differences they demarcate, to identify those that matter the most in a particular industry, and to look at them not just as difficulties to be overcome but also as potential sources of value creation. Ghemawat (2007b).

Moore and Rugman also reject the idea of an emerging single world market for free trade and offer a regional perspective. They note that while companies source goods, technology, information, and capital from around the world, business activity tends to be centered in certain cities or regions around the world, and suggest that regions—rather than global opportunity—should be the focus of strategy analysis and organization. As examples, they cite recent decisions by DuPont and Procter & Gamble to roll their three separate country subsidiaries in the United States, Canada, and Mexico into one regional organization. Moore and Rugman (2005a); see also Moore and Rugman (2005b).

The histories of Toyota, Wal-Mart, and Coca-Cola provide support for the diagnosis of a semiglobalized and regionally divided world. Toyota’s globalization has always had a distinct regional flavor. Its starting point was not a grand, long-term vision of a fully integrated world in which autos and auto parts can flow freely from anywhere to anywhere else. Rather, the company anticipated expanded free-trade agreements within the Americas, Europe, and East Asia but not across them. This reflects a vision of a semiglobalized world in which neither the bridges nor the barriers between countries can be ignored. The Toyota, Wal-Mart, and Coca-Cola examples are taken from Ghemawat (2007a), chap. 1.

The globalization of Wal-Mart illustrates the complex realities of a more nuanced global competitive landscape (see the Wal-Mart minicase). It has been successful in markets that are culturally, administratively, geographically, and economically closest to the United States: Canada, Mexico, and the United Kingdom. In other parts of the world, it has yet to meet its profitability targets. The point is not that Wal-Mart should not have ventured into more distant markets, but rather that such opportunities require a different competitive approach. For example, in India, which restricts foreign direct investment in retailing, Wal-Mart was forced to enter a joint venture with an Indian partner, Bharti, that operates the stores, while Wal-Mart deals with the back end of the business.

Finally, consider the history of Coca-Cola, which, in the late 1990s under chief executive officer Roberto Goizueta, fully bought into Levitt’s idea that the globalization of markets (rather than production) was imminent. Goizueta embarked on a strategy that involved focusing resources on Coke’s megabrands, an unprecedented amount of standardization, and the official dissolution of the boundaries between Coke’s U.S. and international organizations. Fifteen years later and under new leadership, Coke’s strategy looks very different and is no longer always the same in different parts of the world. In big, emerging markets such as China and India, Coke has lowered price points, reduced costs by localizing inputs and modernizing bottling operations, and upgraded logistics and distribution, especially rurally. The boundaries between the United States and international organizations have been restored, recognizing the fact that Coke faces very different challenges in America than it does in most of the rest of the world. This is because per capita consumption is an order of magnitude that is higher in the United States than elsewhere.

Minicase: The Globalization of Wal-Mart This mini case study was first published in de Kluyver and Pearce (2009), chap. 8.

In venturing outside the United States, Wal-Mart had the option of entering Europe, Asia, or other countries in the western hemisphere. It realized that it did not have the resources—financial, organizational, and managerial—to enter all of them simultaneously and instead opted for a carefully considered, learning-based approach to market entry. During the first 5 years of its globalization (1991 to 1995), Wal-Mart concentrated heavily on establishing a presence in the Americas: Mexico, Brazil, Argentina, and Canada. This choice was motivated by the fact that the European market was less attractive to Wal-Mart as a first point of entry. The European retail industry was already mature, which meant that a new entrant would have to take market share away from an existing player. There were well-entrenched competitors such as Carrefour in France and Metro AG in Germany that would likely retaliate vigorously. Moreover, European retailers had formats similar to Wal-Mart’s, which would have the effect of reducing Wal-Mart’s competitive advantage. Wal-Mart might have overcome these difficulties by entering Europe through an acquisition, but the higher growth rates of the Latin American and Asian markets would have made a delayed entry into those markets extremely costly in terms of lost opportunities. In contrast, the opportunity costs of delaying acquisition-based entries into European markets were relatively small. Asian markets also presented major opportunities, but they were geographically and culturally more distant. For these reasons, as its first global points of entry, Wal-Mart chose Mexico (1991), Brazil (1994), and Argentina (1995), the countries with the three largest populations in Latin America.

By 1996, Wal-Mart felt ready to take on the Asian challenge. It targeted China, with a population of more than 1.2 billion inhabitants in 640 cities, as its primary growth vehicle. This choice made sense in that the lower purchasing power of the Chinese consumer offered huge potential to a low-price retailer like Wal-Mart. Still, China’s cultural, linguistic, and geographical distance from the United States presented relatively high entry barriers, so Wal-Mart established two beachheads as learning vehicles for establishing an Asian presence. From 1992 to 1993, Wal-Mart agreed to sell low-priced products to two Japanese retailers, Ito-Yokado and Yaohan, that would market these products in Japan, Singapore, Hong Kong, Malaysia, Thailand, Indonesia, and the Philippines. Then, in 1994, Wal-Mart formed a joint venture with the C. P. Pokphand Company, a Thailand-based conglomerate, to open three Value Club membership discount stores in Hong Kong.

Once Wal-Mart had chosen its target markets, it had to select a mode of entry. It entered Canada through an acquisition. This was rational because Canada was a mature market—adding new retail capacity was unattractive—and because the strong economic and cultural similarities between the U.S. and Canadian markets minimized the need for much learning.

For its entry into Mexico, Wal-Mart took a different route. Because there were significant income and cultural differences between the U.S. and Mexican markets about which the company needed to learn, and to which it needed to tailor its operations, a greenfield start-up would have been problematic. Instead, the company chose to form a 50-50 joint venture with Cifra, Mexico’s largest retailer, counting on Cifra to provide operational expertise in the Mexican market.

In Latin America, Wal-Mart targeted the region’s next two largest markets: Brazil and Argentina. The company entered Brazil through a joint venture, with Lojas Americana, a local retailer. Wal-Mart was able to leverage its learning from the Mexican experience and chose to establish a 60-40 joint venture in which it had the controlling stake. The successful entry into Brazil gave Wal-Mart even greater experience in Latin America, and it chose to enter Argentina through a wholly owned subsidiary. This decision was reinforced by the presence of only two major markets in Argentina.

1.2 Global Competition’s Changing Center of Gravity

The rapid emergence of a number of developing economies—notably the so-called BRIC countries Populous countries with emerging economies that are experiencing rates of growth in gross domestic product (GDP), trade, and disposable income that are unprecedented in the developed world. (Brazil, Russia, India, and China)—is the latest development shaping the global competitive environment. The impact this development will have on global competition in the next decade is likely to be enormous; these economies are experiencing rates of growth in gross domestic product (GDP), trade, and disposable income that are unprecedented in the developed world. The sheer size of the consumer markets now opening up in emerging economies, especially in India and China, and their rapid growth rates will shift the balance of business activity far more than did the earlier rise of less populous economies such as Japan and South Korea and their handful of “new champions” that seemed to threaten the old order at the time.

This shift in the balance of business activity has redefined global opportunity. For the last 50 years, the globalization of business has primarily been interpreted as the expansion of trade from developed to emerging economies. Today’s rapid rise of emerging economies means this view is no longer tenable—business now flows in both directions and increasingly from one developing economy to another. Or, as the authors of “ Globality The concept of competing with everyone from everywhere for everything. ,” consultants at the Boston Consulting Group (BCG), put it, business these days is all about “competing with everyone from everywhere for everything.” Sirkin, Hemerling, and Bhattacharya (2008).

The evidence that this latest shift in the global competitive landscape will have seismic proportions is already formidable. Consider, for example, the growing number of companies from emerging markets that appear in the Fortune 500 rankings of the world’s biggest firms. It now stands at 62, mostly from the BRIC economies, up from 31 in 2003, and is set to rise rapidly. What is more, if current trends persist, emerging-market companies will account for one-third of the Fortune list within 10 years.

Look also at the recent sharp increase in the number of emerging-market companies acquiring established rich-world businesses and brands, proof that “globalization” is no longer just another word for “Americanization.” For instance, Budweiser, the maker of America’s favorite beer, was bought by a Belgian-Brazilian conglomerate. And several of America’s leading financial institutions avoided bankruptcy only by being bailed out by the sovereign-wealth funds (state-owned investment funds) of various Arab kingdoms and the Chinese government.

Another prominent example of this seismic shift in global business is provided by Lenovo, the Chinese computer maker. It became a global brand in 2005, when it paid around $1.75 billion for the personal-computer business of one of America’s best-known companies, IBM, including the ThinkPad laptop range. Lenovo had the right to use the IBM brand for 5 years, but dropped it 2 years ahead of schedule, such was its confidence in its own brand. It just squeezed into 499th place in the Fortune 500, with worldwide revenues of $16.8 billion last year and growth prospects many Western companies envy.

The conclusion is that this new phase of “globality” is creating huge opportunities—as well as threats—for developed-world multinationals and new champions from developing countries alike.

1.3 Globalization Pressures on Companies

Gupta, Govindarajan, and Wang identify five “imperatives” that drive companies to become more global: to pursue growth, efficiency, and knowledge; to better meet customer needs; and to preempt or counter competition . Gupta, Govindarajan, and Wang (2008), p. 28.

In many industries, markets in the developed countries are maturing at a rapid rate, limiting the rate of growth. Consider household appliances: in the developed part of the world, most households have, or have access to, appliances such as stoves, ovens, washing machines, dryers, and refrigerators. Industry growth is therefore largely determined by population growth and product replacement. In developing markets, in contrast, household penetration rates for major appliances are still low compared to Western standards, thereby offering significant growth opportunities for manufacturers.

A global presence automatically expands a company’s scale of operations, giving it larger revenues and a larger asset base. A larger scale can help create a competitive advantage if a company undertakes the tough actions needed to convert scale into economies of scale Efficiencies associated with supply-side changes, such as increasing or decreasing the scale of production. by (a) spreading fixed costs, (b) reducing capital and operating costs, (c) pooling purchasing power, and (d) creating critical mass in a significant portion of the value chain. Whereas economies of scale primarily refer to efficiencies associated with supply-side changes, such as increasing or decreasing the scale of production, economies of scope Efficiencies associated with demand-side changes, such as increasing or decreasing the scope of marketing and distribution by entering new markets or regions or by increasing the range of products and services offered. refer to efficiencies typically associated with demand-side changes, such as increasing or decreasing the scope of marketing and distribution by entering new markets or regions or by increasing the range of products and services offered. The economic value of global scope can be substantial when serving global customers through providing coordinated services and the ability to leverage a company’s expanded market power.

Foreign operations can be reservoirs of knowledge. Some locally created knowledge is relevant across multiple countries, and, if leveraged effectively, can yield significant strategic benefits to a global enterprise, such as (a) faster product and process innovation, (b) lower cost of innovation, and (c) reduced risk of competitive preemption. For example, Fiat developed Palio—its global car—in Brazil; Texas Instruments uses a collaborative process between Indian and U.S. engineers to design its most advanced chips; and Procter & Gamble’s liquid Tide was developed as a joint effort by U.S. employees (who had the technology to suspend dirt in water), the Japanese subsidiary (who had the cleaning agents), and the Brussels operations (who had the agents that fight mineral salts found in hard water). Most companies tap only a fraction of the full potential in realizing the economic value inherent in transferring and leveraging knowledge across borders. Significant geographic, cultural, and linguistic distances often separate subsidiaries. The challenge is creating systematic and routine mechanisms that will uncover opportunities for knowledge transfer.

Customer Needs and Preferences

When customers start to globalize, a firm has little choice but to follow and adapt its business model to accommodate them. Multinationals such as Coca-Cola, GE, and DuPont increasingly insist that their suppliers—from raw material suppliers to advertising agencies to personnel recruitment companies—become more global in their approach and be prepared to serve them whenever and wherever required. Individuals are no different—global travelers insist on consistent worldwide service from airlines, hotel chains, credit card companies, television news, and others.

Competition

Just as the globalization of customers compels companies to consider globalizing their business model, so does the globalization of one or more major competitors. A competitor who globalizes early may have a first-mover advantage The competitive advantages gained by an early entrant into a market. in emerging markets, greater opportunity to create economies of scale and scope, and an ability to cross-subsidize competitive battles, thereby posing a greater threat in the home market. The global beer market provides a good example of these forces at work. Over the past decade, the beer industry has witnessed significant consolidation, and this trend continued during 2008. On a pro forma basis, beer sales by the top 10 players now total approximately 65% of total global sales, compared to less than 40% at the start of the century. In recent major developments, the division of Scottish and Newcastle’s business between Carlsberg and Heineken was completed during the first half of 2008, while InBev acquired Anheuser-Busch in November 2008. SABMiller and Molson Coors combined their operations in the United States and Puerto Rico on July 1, 2008, to form the new MillerCoors brewing joint venture.

Minicase: Chocolatiers Look to Asia for Growth Fishbein (2008, January 17).

Humans first cultivated a taste for chocolate 3,000 years ago, but for India and China this is a more recent phenomenon. Compared to the sweet-toothed Swiss and Brits, both of whom devour about 24 lbs (11 kg) of chocolate per capita annually, Indians consume a paltry 5.8 oz and the Chinese, a mere 3.5 oz (165 g and 99 g, respectively).

Western chocolate makers hungry for growth markets are banking on this to change. According to market researcher Euromonitor International, in the past 5 years, the value of chocolate confectionery sales in China has nearly doubled, to $813.1 million, while sales in India have increased 64%, to $393.8 million. That is a pittance compared to the nearly $35-billion European chocolate market. But while European chocolate sales are growing a mere 1% to 2% annually, sales in the two Asian nations show no sign of slowing.

European chocolatiers are already making their mark in China. The most aggressive is Swiss food giant Nestlé, which has more than doubled its Chinese sales since 2001 to an estimated $91.5 million—still a relatively small amount. It is closing in on Mars, the longtime market leader, whose sales rose 40% during the same period to $96.7 million.

Green Tea Kisses

Nestlé’s Kit Kat bar and other wafer-type chocolates are a big hit with the Chinese, helping the Swiss company swipe market share from Mars. Italy’s Ferrero is another up-and-comer. It has boosted China sales nearly 79% since 2001, to $55.6 million, drawing younger consumers with its Kinder chocolate line, while targeting big spenders with the upscale Ferrero Rocher brand. Indeed, its products are so popular that they have spawned Chinese knockoffs, including a Ferrero Rocher look-alike made by a Chinese company that Ferrero has sued for alleged counterfeiting. Despite those problems, the privately owned Ferrero has steadily gained market share against third-ranked Cadbury Schweppes, whose China sales have risen a modest 26% since 2001, to $58.6 million.

Until now, U.S.-based Hershey has been a relatively small player in China. But the company has adopted ambitious expansion plans, including hooking up with a local partner to step up its distribution and introducing green-tea-flavored Hershey Kisses to appeal to Asian tastes.

Attractively Packaged

Underscoring China’s growing importance, Switzerland’s Barry Callebaut, a big chocolate producer that supplies many leading confectioners, opened a factory near Shanghai to alleviate pressure at a Singapore facility that had been operating at capacity. The company also inaugurated a nearby Chocolate Academy, just 1 month after opening a similar facility in Mumbai, to train local confectioners and pastry chefs in using chocolate.

Unlike China’s chocolate market, India’s is dominated by only two companies: Cadbury, which entered the country 60 years ago and has nearly 60% market share, and Nestlé, which has about 32% market share. The two have prospered by luring consumers with attractively packaged chocolate assortments to replace the traditional dried fruits and sugar confectioneries offered as gifts on Indian holidays, and by offering lower-priced chocolates, including bite-sized candies costing less than 3 cents.

The confectionary companies have been less successful, though, at developing new products adapted to the Indian sweet tooth. In 2005, Nestlé launched a coconut-flavored Munch bar, and Cadbury introduced a dessert called Kalakand Crème, based on a popular local sweet made of chopped nuts and cheese. Both sold poorly and were discontinued.

1.4 What Is a Global Corporation?

One could argue that a global company must have a presence in all major world markets—Europe, the Americas, and Asia. Others may define globality in terms of how globally a company sources, that is, how far its supply chain reaches across the world. Still other definitions use company size, the makeup of the senior management team, or where and how it finances its operations as their primary criterion.

Gupta, Govindarajan, and Wang suggest we define corporate globality in terms of four dimensions: a company’s market presence, supply base, capital base, and corporate mind-set. Gupta, Govindarajan, and Wang (2008), p. 7 The first dimension—the globalization of market presence The degree the company has globalized its market presence and customer base. —refers to the degree the company has globalized its market presence and customer base. Oil and car companies score high on this dimension. Wal-Mart, the world’s largest retailer, on the other hand, generates less than 30% of its revenues outside the United States. The second dimension—the globalization of the supply base The extent to which a company sources from different locations and has located key parts of the supply chain in optimal locations around the world. —hints at the extent to which a company sources from different locations and has located key parts of the supply chain in optimal locations around the world. Caterpillar, for example, serves customer in approximately 200 countries around the world, manufactures in 24 of them, and maintains research and development facilities in nine. The third dimension— globalization of the capital base The degree to which a company has globalized its financial structure. —measures the degree to which a company has globalized its financial structure. This deals with such issues as on what exchanges the company’s shares are listed, where it attracts operating capital, how it finances growth and acquisitions, where it pays taxes, and how it repatriates profits. The final dimension— globalization of the corporate mind-set —refers to a company’s ability to deal with diverse cultures. GE, Nestlé, and Procter & Gamble are examples of companies with an increasingly global mind-set: businesses are run on a global basis, top management is increasingly international, and new ideas routinely come from all parts of the globe.

In the years to come, the list of truly “global” companies—companies that are global in all four dimensions—is likely to grow dramatically. Global merger and acquisition activity continues to increase as companies around the world combine forces and restructure themselves to become more globally competitive and to capitalize on opportunities in emerging world markets. We have already seen megamergers involving financial services, leisure, food and drink, media, automobile, and telecommunications companies. There are good reasons to believe that the global mergers and acquisitions (M&A) movement is just in its beginning stages—the economics of globalization point to further consolidation in many industries. In Europe, for example, more deregulation and the EU’s move toward a single currency will encourage further M&A activity and corporate restructuring.

1.5 The Persistence of Distance

Metaphors such as “the world is flat” tend to suggest that distance no longer matters—that information technologies and, in particular, global communications are shrinking the world, turning it into a small and relatively homogeneous place. But when it comes to business, that assumption is not only incorrect; it is dangerous.

Ghemawat analyzes distance between countries or regions in terms of four dimensions— cultural , administrative , geographic , and economic (CAGE) —each of which influences business in different ways. Ghemawat (2001).

Cultural Distance

A country’s culture shapes how people interact with each other and with organizations. Differences in religious beliefs, race, social norms, and language can quickly become barriers, that is, “create distance.” The influence of some of these attributes is obvious. A common language, for example, makes trade much easier and therefore more likely. The impact of other attributes is much more subtle, however. Social norms—the set of unspoken principles that strongly guides everyday behavior—are mostly invisible. Japanese and European consumers, for example, prefer smaller automobiles and household appliances than Americans, reflecting a social norm that highly values space. The food industry must concern itself with religious attributes—for example, Hindus do not eat beef because it is expressly forbidden by their religion. Thus, cultural distance shapes preference and, ultimately, choice. The barrier to interpersonal interactions created by cultural differences in religious beliefs, race, social norms, and language.

Administrative or Political Distance

Administrative or political distance is created by differences in governmental laws, policies, and institutions, including international relationships between countries, treaties, and membership in international organizations (see Chapter 11 "Appendix A: Global Trade: Doctrines and Regulation" for a brief summary). The greater the distance, the less likely it is that extensive trade relations develop. This explains the advantage that shared historical colonial ties, membership in the same regional trading bloc, and use of a common currency can confer. The integration of the European Union over the last half-century is probably the best example of deliberate efforts to reduce administrative distance among trading partners. Bad relationships can increase administrative distance, however. Although India and Pakistan share a colonial past, a land border, and linguistic ties, their long-standing mutual hostility has reduced official trade to almost nothing. The barrier to international trade relations that is created by differences in the laws, policies, and institutions of different countries.

Countries can also create administrative and political distance through unilateral measures. Indeed, policies of individual governments pose the most common barriers to cross-border competition. In some cases, the difficulties arise in a company’s home country. For companies from the United States, for instance, domestic prohibitions on bribery and the prescription of health, safety, and environmental policies have a dampening effect on their international businesses. More commonly, though, it is the target country’s government that raises barriers to foreign competition: tariffs, trade quotas, restrictions on foreign direct investment, and preferences for domestic competitors in the form of subsidies and favoritism in regulation and procurement.

Geographic Distance

Geographic distance is about more than simply how far away a country is in miles. Other geographic attributes include the physical size of the country, average within-country distances to borders, access to waterways and the ocean, topography, and a country’s transportation and communications infrastructure. Geographic attributes most directly influence transportation costs and are therefore particularly relevant to businesses with low value-to-weight or bulk ratios, such as steel and cement. Likewise, costs for transporting fragile or perishable products become significant across large distances. Intangible goods and services are affected by geographic distance as well, as cross-border equity flows between two countries fall off significantly as the geographic distance between them rises. This is a direct result of differences in information infrastructure, including telephone, Internet, and banking services. The barrier to international trade relations that is created by the geophysical attributes of a country.

Economic Distance

Disposable income is the most important economic attribute that creates distance between countries. Rich countries engage in proportionately higher levels of cross-border economic activity than poorer ones. The greater the economic distance between a company’s home country and the host country, the greater the likelihood that it must make significant adaptations to its business model. Wal-Mart in India, for instance, would be a very different business from Wal-Mart in the United States. But Wal-Mart in Canada is virtually a carbon copy of the U.S. Wal-Mart. An exception to the distance rule is provided by industries in which competitive advantage is derived from economic arbitrage, that is, the exploitation of cost and price differentials between markets. Companies in industries whose major cost components vary widely across countries, like the garment and footwear industries, where labor costs are important, are particularly likely to target countries with different economic profiles for investment or trade. Whether or not they expand abroad for purposes of replication or arbitrage, all companies find that major disparities in supply chains and distribution channels are significant barriers to business. This suggests that focusing on a limited number of geographies may prove advantageous because of reduced operational complexity. This is evident in the home-appliance business, for instance, where companies—like Maytag—that concentrate on a limited number of geographies produce far better returns for investors than companies like Electrolux and Whirlpool, whose geographic spread has come at the expense of simplicity and profitability. The barrier to international relations created by differences in the wealth profiles and economic health of trading nations.

Minicase: Computer Keyboards Abroad: QWERTZ Versus QWERTY

Anyone who has traveled to Austria or Germany and has used computers there—in cybercafes, offices, or at the home of friends—will instantly recognize this dimension of “distance”: their keyboards are not the same as ours . Once-familiar letters and symbols look like strangers, and new keys are located where they should not be. http://german.about.com

Specifically, a German keyboard has a QWERTZ layout, that is, the “Y” and “Z” keys are reversed in comparison with the U.S.-English QWERTY layout. Moreover, in addition to the “normal” letters of the English alphabet, German keyboards have the three umlauted vowels and the “sharp-s” characters of the German alphabet. The “ess-tsett” (ß) key is to the right of the zero (“0”) key. (But this letter is missing on a Swiss-German keyboard, since the “ß” is not used in the Swiss variation of German.) The u-umlaut (ü) key is located just to the right of the “P” key. The o-umlaut (ö) and a-umlaut (ä) keys are to the right of the “L” key. This means, of course, that the symbols or letters that an American is used to finding where the umlauted letters are in the German version turn up somewhere else. All this is enough to bring on a major headache.

And just where the heck is that “@” key? E-mail happens to depend on it rather heavily, but on the German keyboard, not only is it NOT at the top of the “2” key but it also seems to have vanished entirely! This is surprising considering that the “at” sign even has a name in German: der Klammeraffe (lit., “clip/bracket monkey”). So how do you type “@”? You have to press the “Alt Gr” key plus “Q” to make “@” appear in your document or e-mail address. Ready for the Excedrin? On most European-language keyboards, the right “Alt” key, which is just to the right of the space bar and different from the regular “Alt” key on the left side, acts as a “Compose” key, making it possible to enter many non-ASCII characters. This configuration applies to PCs; Mac users will need to take an advanced course. Of course, for Europeans using a North American keyboard, the problems are reversed, and they must get used to the weird U.S. English configuration.

1.6 Global Strategy and Risk

Even with the best planning, globalization carries substantial risks. Many globalization strategies represent a considerable stretch of the company’s experience base, resources, and capabilities. This section draws on Behrendt and Khanna (2004). The firm might target new markets, often in new—for the company—cultural settings. It might seek new technologies, initiate new partnerships, or adopt market-share objectives that require earlier or greater commitments than current returns can justify. In the process, new and different forms of competition can be encountered, and it could turn out that the economics model that got the company to its current position is no longer applicable. Often, a more global posture implies exposure to different cyclical patterns, currency, and political risk. In addition, there are substantial costs associated with coordinating global operations. As a consequence, before deciding to enter a foreign country or continent, companies should carefully analyze the risks involved. In addition, companies should recognize that the management style that proved successful on a domestic scale might turn out to be ineffective in a global setting.

Over the last 25 years, Western companies have expanded their activities into parts of the world that carry risks far greater than those to which they are accustomed. According to Control Risks Group, a London-based international business consultancy, multinational corporations are now active in more than 100 countries that are rated “medium” to “extreme” in terms of risk, and hundreds of billions are invested in countries rated “fairly” to “very” corrupt. To mitigate this risk, companies must understand the specific nature of the relationship between corporate globalization and geopolitics, identify the various types of risk globalization exposes them to, and adopt strategies to enhance their resilience.

Such an understanding begins with the recognition that the role of multinational corporations in the evolving global-geopolitical landscape continues to change. The prevailing dogma of the 1990s held that free-market enterprise and a liberal economic agenda would lead to more stable geopolitical relations. The decline of interstate warfare during this period also provided a geopolitical environment that enabled heavy consolidation across industries, resulting in the emergence of “global players,” that is, conglomerates with worldwide reach. The economy was paramount; corporations were almost unconstrained by political and social considerations. The greater international presence of business and increasing geopolitical complexity also heightened the exposure of companies to conflict and violence, however. As they became larger, they became more obvious targets for attack and increasingly vulnerable because their strategies were based on the assumption of fundamentally stable geopolitical relations.

In recent years, the term “global player” has acquired a new meaning, however. Previously a reference exclusively to an economic role, the term now describes a company that has, however unwillingly, become a political actor as well. And, as a consequence, to remain a global player today, a firm must be able to survive not only economic downturns but also geopolitical shocks. This requires understanding that risk has become an endemic reality of the globalization process—that is, no longer simply the result of conflict in one country or another but something inherent in the globalized system itself.

Globalization risk can be of a political, legal, financial-economic , or sociocultural nature . Political risk The risk from politically induced actions and policies initiated by a foreign government that global organizations encounter. relates to politically induced actions and policies initiated by a foreign government. Crises such as the September 11, 2001, terrorist attacks in the United States, the ongoing conflict in Iraq and Pakistan, instability in the Korean peninsula, and the recent global financial crisis have made geopolitical uncertainty a key component of formulating a global strategy. The effect of these events and the associated political decisions on energy, transportation, tourism, insurance, and other sectors demonstrates the massive consequences that crises, wars, and economic meltdowns, wherever and however they may take place, can have on business.

Political risk assessment involves an evaluation of the stability of a country’s current government and of its relationships with other countries. A high level of risk affects ownership of physical assets and intellectual property and security of personnel, increasing the potential for trouble. Analysts frequently divide political risk into two subcategories: global and country-specific risk . Global risk affects all of a company’s multinational operations, whereas country-specific risk relates to investments in a specific foreign country. We can distinguish between macro and micro political risk. Macro risk is concerned with how foreign investment in general in a particular country is affected. By reviewing the government’s past use of soft policy instruments, such as blacklisting, indirect control of prices, or strikes in particular industries, and hard policy tools, such as expropriation, confiscation, nationalization, or compulsory local shareholding, a company can be better prepared for potential future government action. At the micro level, risk analysis is focused on a particular company or group of companies. A weak balance sheet, questionable accounting practices, or a regular breach of contracts should give rise to concerns.

Legal risk Risk that multinational companies encounter in the legal arena in a particular country. is risk that multinational companies encounter in the legal arena in a particular country. Legal risk is often closely tied to political country risk. An assessment of legal risk requires analyzing the foundations of a country’s legal system and determining whether the laws are properly enforced. Legal risk analysis therefore involves becoming familiar with a country’s enforcement agencies and their scope of operation. As many companies have learned, numerous countries have written laws protecting a multinational’s rights, but these laws are rarely enforced. Entering such countries can expose a company to a host of risks, including the loss of intellectual property, technology, and trademarks.

Financial or economic risk Risk associated with the volatility of a country’s macroeconomic performance and the country’s ability to meet its financial obligations directly. in a foreign country is analogous to operating and financial risk at home. The volatility of a country’s macroeconomic performance and the country’s ability to meet its financial obligations directly affect performance. A nation’s currency competitiveness and fluctuation are important indicators of a country’s stability—both financial and political—and its willingness to embrace changes and innovations. In addition, financial risk assessment should consider such factors as how well the economy is being managed, the level of the country’s economic development, working conditions, infrastructure, technological innovation, and the availability of natural and human resources.

Societal or cultural risk The risk associated with operating in a different sociocultural environment. is associated with operating in a different sociocultural environment. For example, it might be advisable to analyze specific ideologies; the relative importance of ethnic, religious, and nationalistic movements; and the country’s ability to cope with changes that will, sooner or later, be induced by foreign investment. Thus, elements such as the standard of living, patriotism, religious factors, or the presence of charismatic leaders can play a huge role in the evaluation of these risks.

1.7 Points to Remember

• Although we often speak of global markets and a “flat” world, in reality, the world’s competitive structure is best described as semiglobal. Bilateral and regional trade and investment patterns continue to dominate global ones.
• The center of gravity of global competition is shifting to the East, with China and India taking center stage. Russia and Brazil, the other two BRIC countries, are not far behind.
• Global competition is rapidly becoming a two-way street, with new competitors from developing countries taking on traditional companies from developed nations everywhere in every industry.
• Companies have several major reasons to consider going global: to pursue growth, efficiency, and knowledge; to better meet customer needs; and to preempt or counter competition.
• Global companies are those that have a global market presence, supply-chain infrastructure, capital base, and corporate mind-set.
• Although we live in a “global” world, distance still very much matters, and companies must explicitly and thoroughly account for it when they make decisions about global expansion.
• Distance between countries or regions is usefully analyzed in terms of four dimensions: cultural , administrative , geographic , and economic , each of which influences business in different ways.
• Even with the best planning, globalization carries substantial risks. Globalization risks can be of a political, legal, financial-economic , or sociocultural nature .

Harvard Crimson Global Essay Competition 2024

Types: Submission, Tournament

Scope: International

Registration

Entry Fee: $15

[email protected]

Participate

This competition encourages students to challenge themselves and explore different writing styles to ultimately strengthen their writing skills. Hone written communication skills and challenge yourself with university-style guidelines, while in high school.

The registration fee is US$15 per student and must be paid upon registration but can get 33% off with code: AMB336

Each participant is invited to attend best-in-class bootcamps, explore careers in writing, and compete for exclusive opportunities and global recognition!

• APAC (East Asia, Southeast Asia, and Oceania)
• Europe, Russia, and Central Asia
• Middle East, North Africa, Central and South Africa
• LATAM (South America, Central America, Mexico, and the islands of the Caribbean)
• North America

Website: https://www.essaycomp.org/

Managing Organization: Harvard Crimson

Contact: [email protected]

Eligibility: Students between the ages of 13-18, in the 8th - 12th grade

Registration Opens: December 1, 2023

Registration Closes: February 7, 2024

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THE QUEEN'S COMMONWEALTH ESSAY COMPETITION

Since 1883, we have delivered The Queen's Commonwealth Essay Competition, the world's oldest international schools' writing competition. Today, we work to expand its reach, providing life-changing opportunities for young people around the world.

ENTER THE QCEC 2024

The Queen’s Commonwealth Essay Competition 2024 is now live!

Find out more about this year’s theme

'Our Common Wealth' and make sure to enter by 15 May 2024!

140 years of The Queen’s Commonwealth Essay Competition

The Queen’s Commonwealth Essay Competition (QCEC) is the world’s oldest international writing competition for schools and has been proudly delivered by the Royal Commonwealth Society since 1883. 

ABOUT THE COMPETITION 

An opportunity for young Commonwealth citizens to share their thoughts, ideas and experiences on key global issues and have their hard work and achievement celebrated internationally.

Frequently Asked Questions for the Competition. Before contacting us please read these.

MEET THE WINNERS 

In 2023 we were delighted to receive a record-breaking 34,924 entries, with winners from India and Malaysia. Read their winning pieces as well as those from previous years.

TERMS AND CONDITIONS

Terms and Conditions for entrants to The Queen’s Commonwealth Essay Competition. Please ensure you have thoroughly read them before submitting your entry.

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St. Gallen Symposium Global Essay Competition 2024 (CHF 20,000 prize)

Deadline: February 1, 2024

Applications are open for the St. Gallen Symposium Global Essay Competition 2024 . Compete in the Global Essay Competition and qualify for participation as a Leader of Tomorrow in the world’s premier opportunity for cross-generational debates: The St. Gallen Symposium.

Meet 300 of society’s brightest young minds. Present and debate your ideas with 600 senior leaders. Be inspired by some of the world’s most impressive speakers. Gain a unique and new perspective on this year’s topic. Become a member of a unique global community. Participate in the symposium.

Topic Question : Striving for more or thriving with less – What pressing scarcity do you see, and how do you suggest to tackle it?

Scarcity generally refers to a situation where human needs exceed available resources. This year’s Global Essay Competition invites young leaders worldwide to focus on a specific contemporary or future challenge related to scarcity and propose an innovative way to address it.

Be creative in thinking about proposed solutions: do we need to strive for more and find ways to boost the availability of the resource in question? Or does it focus on ways to thrive with less and thus rethink our needs and demand?

Be free in choosing which scarce resource you focus on: examples include – but are NOT limited to – human labour, capital, natural resources, or intangibles like time, creativity, or care. Be bold and precise in describing a contemporary or future challenge of scarcity and the specific kind of resources you focus on and offer a concrete and actionable idea of how we should confront it.

• Win prize money of CHF 20,000 split amongst the three winners.

Eligibility

• Be enrolled in a graduate or postgraduate programme (master level or higher) in any field of study at a regular university;
• Born in 1994 or later.

Selection Criteria

For your contribution to be valid, the following criteria must be met:

• Be in Essay form (max. 2,100 words, excl. abstract, bibliography, and footnotes)
• Your name, e-mail address, university, or any identifying details must not be mentioned anywhere in the contribution file.
• Individual work expected, no group work allowed. The essay must be written exclusively for this contest. The idea must be the author’s own.
• All sources must be cited and referred to the respective part in the essay. All contributions will be tested for plagiarism.
• Acceptable language is English.

Application

Make sure you can provide the following documents:

• Copy of passport or other identification (in English for non-Roman languages).
• Confirmation of matriculation/enrolment from your university which proves your enrollment in a graduate/postgraduate level programme as of February 1, 2023 (download sample document here ).
• Your contribution file with no indication of your name in the file name, the file metadata or the file itself.

Click here to register

For more information, visit Global Essay Competition .

Jude Ogar is an educator and youth development practitioner with years of experience working in the education and youth development space. He is passionate about the development of youth in Africa.

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Discourse, debate, and analysis

Cambridge re:think essay competition 2024.

Competition Opens: 15th January, 2024

Essay Submission Deadline: 10th May, 2024 Result Announcement: 20th June, 2024 Award Ceremony and Dinner at the University of Cambridge: 30th July, 2024

We welcome talented high school students from diverse educational settings worldwide to contribute their unique perspectives to the competition.

Entry to the competition is free.

About the Competition

The spirit of the Re:think essay competition is to encourage critical thinking and exploration of a wide range of thought-provoking and often controversial topics. The competition covers a diverse array of subjects, from historical and present issues to speculative future scenarios. Participants are invited to engage deeply with these topics, critically analysing their various facets and implications. It promotes intellectual exploration and encourages participants to challenge established norms and beliefs, presenting opportunities to envision alternative futures, consider the consequences of new technologies, and reevaluate longstanding traditions. 

Ultimately, our aim is to create a platform for students and scholars to share their perspectives on pressing issues of the past and future, with the hope of broadening our collective understanding and generating innovative solutions to contemporary challenges. This year’s competition aims to underscore the importance of discourse, debate, and critical analysis in addressing complex societal issues in nine areas, including:

Religion and Politics

Political science and law, linguistics, environment, sociology and philosophy, business and investment, public health and sustainability, biotechonology.

Artificial Intelligence 

Neuroengineering

2024 essay prompts.

This year, the essay prompts are contributed by distinguished professors from Harvard, Brown, UC Berkeley, Cambridge, Oxford, and MIT.

Essay Guidelines and Judging Criteria

Review general guidelines, format guidelines, eligibility, judging criteria.

Awards and Award Ceremony

Award winners will be invited to attend the Award Ceremony and Dinner hosted at the King’s College, University of Cambridge. The Dinner is free of charge for select award recipients.

Registration and Submission

Register a participant account today and submit your essay before the deadline.

Advisory Committee and Judging Panel

The Cambridge Re:think Essay Competition is guided by an esteemed Advisory Committee comprising distinguished academics and experts from elite universities worldwide. These committee members, drawn from prestigious institutions, such as Harvard, Cambridge, Oxford, and MIT, bring diverse expertise in various disciplines.

They play a pivotal role in shaping the competition, contributing their insights to curate the themes and framework. Their collective knowledge and scholarly guidance ensure the competition’s relevance, academic rigour, and intellectual depth, setting the stage for aspiring minds to engage with thought-provoking topics and ideas.

We are honoured to invite the following distinguished professors to contribute to this year’s competition.

The judging panel of the competition comprises leading researchers and professors from Harvard, MIT, Stanford, Cambridge, and Oxford, engaging in a strictly double blind review process.

Keynote Speeches by 10 Nobel Laureates

We are beyond excited to announce that multiple Nobel laureates have confirmed to attend and speak at this year’s ceremony on 30th July, 2024 .

They will each be delivering a keynote speech to the attendees. Some of them distinguished speakers will speak virtually, while others will attend and present in person and attend the Reception at Cambridge.

Why has religion remained a force in a secular world? 

Professor Commentary:

Arguably, the developed world has become more secular in the last century or so. The influence of Christianity, e.g. has diminished and people’s life worlds are less shaped by faith and allegiance to Churches. Conversely, arguments have persisted that hold that we live in a post-secular world. After all, religion – be it in terms of faith, transcendence, or meaning – may be seen as an alternative to a disenchanted world ruled by entirely profane criteria such as economic rationality, progressivism, or science. Is the revival of religion a pale reminder of a by-gone past or does it provide sources of hope for the future?

‘Religion in the Public Sphere’ by Jürgen Habermas (European Journal of Philosophy, 2006)

In this paper, philosopher Jürgen Habermas discusses the limits of church-state separation, emphasizing the significant contribution of religion to public discourse when translated into publicly accessible reasons.

‘Public Religions in the Modern World’ by José Casanova (University Of Chicago Press, 1994)

Sociologist José Casanova explores the global emergence of public religion, analyzing case studies from Catholicism and Protestantism in Spain, Poland, Brazil, and the USA, challenging traditional theories of secularization.

‘The Power of Religion in the Public Sphere’ by Judith Butler, Jürgen Habermas, Charles Taylor, and Cornel West (Edited by Eduardo Mendieta and Jonathan VanAntwerpen, Columbia University Press, 2011)

This collection features dialogues by prominent intellectuals on the role of religion in the public sphere, examining various approaches and their impacts on cultural, social, and political debates.

‘Rethinking Secularism’ by Craig Calhoun, Mark Juergensmeyer, and Jonathan VanAntwerpen (Oxford University Press, 2011)

An interdisciplinary examination of secularism, this book challenges traditional views, highlighting the complex relationship between religion and secularism in contemporary global politics.

‘God is Back: How the Global Rise of Faith is Changing the World’ by John Micklethwait and Adrian Wooldridge (Penguin, 2010)

Micklethwait and Wooldridge argue for the coexistence of religion and modernity, suggesting that religious beliefs can contribute to a more open, tolerant, and peaceful modern world.

‘Multiculturalism’ by Tariq Modood (Polity Press, 2013)

Sociologist Tariq Modood emphasizes the importance of multiculturalism in integrating diverse identities, particularly in post-immigration contexts, and its role in shaping democratic citizenship.

‘God’s Agents: Biblical Publicity in Contemporary England’ by Matthew Engelke (University of California Press, 2013)

In this ethnographic study, Matthew Engelke explores how a group in England seeks to expand the role of religion in the public sphere, challenging perceptions of religion in post-secular England.

Gene therapy is a medical approach that treats or prevents disease by correcting the underlying genetic problem. Is gene therapy better than traditional medicines? What are the pros and cons of using gene therapy as a medicine? Is gene therapy justifiable?

Especially after Covid-19 mRNA vaccines, gene therapy is getting more and more interesting approach to cure. That’s why that could be interesting to think about. I believe that students will enjoy and learn a lot while they are investigating this topic.

The Hall at King’s College, Cambridge

The Hall was designed by William Wilkins in the 1820s and is considered one of the most magnificent halls of its era. The first High Table dinner in the Hall was held in February 1828, and ever since then, the splendid Hall has been where members of the college eat and where formal dinners have been held for centuries.

The Award Ceremony and Dinner will be held in the Hall in the evening of  30th July, 2024.

Stretching out down to the River Cam, the Back Lawn has one of the most iconic backdrop of King’s College Chapel. 

The early evening reception will be hosted on the Back Lawn with the iconic Chapel in the background (weather permitting). 

King’s College Chapel

With construction started in 1446 by Henry VI and took over a century to build, King’s College Chapel is one of the most iconic buildings in the world, and is a splendid example of late Gothic architecture. 

Attendees are also granted complimentary access to the King’s College Chapel before and during the event. 

Confirmed Nobel Laureates

Dr Thomas R. Cech

The nobel prize in chemistry 1989 , for the discovery of catalytic properties of rna.

Thomas Robert Cech is an American chemist who shared the 1989 Nobel Prize in Chemistry with Sidney Altman, for their discovery of the catalytic properties of RNA. Cech discovered that RNA could itself cut strands of RNA, suggesting that life might have started as RNA. He found that RNA can not only transmit instructions, but also that it can speed up the necessary reactions.

He also studied telomeres, and his lab discovered an enzyme, TERT (telomerase reverse transcriptase), which is part of the process of restoring telomeres after they are shortened during cell division.

As president of Howard Hughes Medical Institute, he promoted science education, and he teaches an undergraduate chemistry course at the University of Colorado

Sir Richard J. Roberts

The nobel prize in medicine 1993 .

F or the discovery of split genes

During 1969–1972, Sir Richard J. Roberts did postdoctoral research at Harvard University before moving to Cold Spring Harbor Laboratory, where he was hired by James Dewey Watson, a co-discoverer of the structure of DNA and a fellow Nobel laureate. In this period he also visited the MRC Laboratory of Molecular Biology for the first time, working alongside Fred Sanger. In 1977, he published his discovery of RNA splicing. In 1992, he moved to New England Biolabs. The following year, he shared a Nobel Prize with his former colleague at Cold Spring Harbor Phillip Allen Sharp.

His discovery of the alternative splicing of genes, in particular, has had a profound impact on the study and applications of molecular biology. The realisation that individual genes could exist as separate, disconnected segments within longer strands of DNA first arose in his 1977 study of adenovirus, one of the viruses responsible for causing the common cold. Robert’s research in this field resulted in a fundamental shift in our understanding of genetics, and has led to the discovery of split genes in higher organisms, including human beings.

Dr Aaron Ciechanover

The nobel prize in chemistry 2004 .

F or the discovery of ubiquitin-mediated protein degradation

Aaron Ciechanover is one of Israel’s first Nobel Laureates in science, earning his Nobel Prize in 2004 for his work in ubiquitination. He is honored for playing a central role in the history of Israel and in the history of the Technion – Israel Institute of Technology.

Dr Ciechanover is currently a Technion Distinguished Research Professor in the Ruth and Bruce Rappaport Faculty of Medicine and Research Institute at the Technion. He is a member of the Israel Academy of Sciences and Humanities, the Pontifical Academy of Sciences, the National Academy of Sciences of Ukraine, the Russian Academy of Sciences and is a foreign associate of the United States National Academy of Sciences. In 2008, he was a visiting Distinguished Chair Professor at NCKU, Taiwan. As part of Shenzhen’s 13th Five-Year Plan funding research in emerging technologies and opening “Nobel laureate research labs”, in 2018 he opened the Ciechanover Institute of Precision and Regenerative Medicine at the Chinese University of Hong Kong, Shenzhen campus.

Dr Robert Lefkowitz

The nobel prize in chemistry 2012 .

F or the discovery of G protein-coupled receptors

Robert Joseph Lefkowitz is an American physician (internist and cardiologist) and biochemist. He is best known for his discoveries that reveal the inner workings of an important family G protein-coupled receptors, for which he was awarded the 2012 Nobel Prize for Chemistry with Brian Kobilka. He is currently an Investigator with the Howard Hughes Medical Institute as well as a James B. Duke Professor of Medicine and Professor of Biochemistry and Chemistry at Duke University.

Dr Lefkowitz made a remarkable contribution in the mid-1980s when he and his colleagues cloned the gene first for the β-adrenergic receptor, and then rapidly thereafter, for a total of 8 adrenergic receptors (receptors for adrenaline and noradrenaline). This led to the seminal discovery that all GPCRs (which include the β-adrenergic receptor) have a very similar molecular structure. The structure is defined by an amino acid sequence which weaves its way back and forth across the plasma membrane seven times. Today we know that about 1,000 receptors in the human body belong to this same family. The importance of this is that all of these receptors use the same basic mechanisms so that pharmaceutical researchers now understand how to effectively target the largest receptor family in the human body. Today, as many as 30 to 50 percent of all prescription drugs are designed to “fit” like keys into the similarly structured locks of Dr Lefkowitz’ receptors—everything from anti-histamines to ulcer drugs to beta blockers that help relieve hypertension, angina and coronary disease.

Dr Lefkowitz is among the most highly cited researchers in the fields of biology, biochemistry, pharmacology, toxicology, and clinical medicine according to Thomson-ISI.

Dr Joachim Frank

The nobel prize in chemistry 2017 .

F or developing cryo-electron microscopy

Joachim Frank is a German-American biophysicist at Columbia University and a Nobel laureate. He is regarded as the founder of single-particle cryo-electron microscopy (cryo-EM), for which he shared the Nobel Prize in Chemistry in 2017 with Jacques Dubochet and Richard Henderson. He also made significant contributions to structure and function of the ribosome from bacteria and eukaryotes.

In 1975, Dr Frank was offered a position of senior research scientist in the Division of Laboratories and Research (now Wadsworth Center), New York State Department of Health,where he started working on single-particle approaches in electron microscopy. In 1985 he was appointed associate and then (1986) full professor at the newly formed Department of Biomedical Sciences of the University at Albany, State University of New York. In 1987 and 1994, he went on sabbaticals in Europe, one to work with Richard Henderson, Laboratory of Molecular Biology Medical Research Council in Cambridge and the other as a Humboldt Research Award winner with Kenneth C. Holmes, Max Planck Institute for Medical Research in Heidelberg. In 1998, Dr Frank was appointed investigator of the Howard Hughes Medical Institute (HHMI). Since 2003 he was also lecturer at Columbia University, and he joined Columbia University in 2008 as professor of Biochemistry and Molecular Biophysics and of biological sciences.

Dr Barry C. Barish

The nobel prize in physics 2017 .

For the decisive contributions to the detection of gravitational waves

Dr Barry Clark Barish is an American experimental physicist and Nobel Laureate. He is a Linde Professor of Physics, emeritus at California Institute of Technology and a leading expert on gravitational waves.

In 2017, Barish was awarded the Nobel Prize in Physics along with Rainer Weiss and Kip Thorne “for decisive contributions to the LIGO detector and the observation of gravitational waves”. He said, “I didn’t know if I would succeed. I was afraid I would fail, but because I tried, I had a breakthrough.”

In 2018, he joined the faculty at University of California, Riverside, becoming the university’s second Nobel Prize winner on the faculty.

In the fall of 2023, he joined Stony Brook University as the inaugural President’s Distinguished Endowed Chair in Physics.

In 2023, Dr Barish was awarded the National Medal of Science by President Biden in a White House ceremony.

Dr Harvey J. Alter

The nobel prize in medicine 2020 .

For the discovery of Hepatitis C virus

Dr Harvey J. Alter is an American medical researcher, virologist, physician and Nobel Prize laureate, who is best known for his work that led to the discovery of the hepatitis C virus. Alter is the former chief of the infectious disease section and the associate director for research of the Department of Transfusion Medicine at the Warren Grant Magnuson Clinical Center in the National Institutes of Health (NIH) in Bethesda, Maryland. In the mid-1970s, Alter and his research team demonstrated that most post-transfusion hepatitis cases were not due to hepatitis A or hepatitis B viruses. Working independently, Alter and Edward Tabor, a scientist at the U.S. Food and Drug Administration, proved through transmission studies in chimpanzees that a new form of hepatitis, initially called “non-A, non-B hepatitis” caused the infections, and that the causative agent was probably a virus. This work eventually led to the discovery of the hepatitis C virus in 1988, for which he shared the Nobel Prize in Physiology or Medicine in 2020 along with Michael Houghton and Charles M. Rice.

Dr Alter has received recognition for the research leading to the discovery of the virus that causes hepatitis C. He was awarded the Distinguished Service Medal, the highest award conferred to civilians in United States government public health service, and the 2000 Albert Lasker Award for Clinical Medical Research.

Dr Ardem Patapoutian

The nobel prize in medicine 2021 .

For discovering how pressure is translated into nerve impulses

Dr Ardem Patapoutian is an Lebanese-American molecular biologist, neuroscientist, and Nobel Prize laureate of Armenian descent. He is known for his work in characterising the PIEZO1, PIEZO2, and TRPM8 receptors that detect pressure, menthol, and temperature. Dr Patapoutian is a neuroscience professor and Howard Hughes Medical Institute investigator at Scripps Research in La Jolla, California. In 2021, he won the Nobel Prize in Physiology or Medicine jointly with David Julius.

Frequently Asked Questions

Why should I participate in the Re:think essay competition? 

The Re:think Essay competition is meant to serve as fertile ground for honing writing skills, fostering critical thinking, and refining communication abilities. Winning or participating in reputable contests can lead to recognition, awards, scholarships, or even publication opportunities, elevating your academic profile for college applications and future endeavours. Moreover, these competitions facilitate intellectual growth by encouraging exploration of diverse topics, while also providing networking opportunities and exposure to peers, educators, and professionals. Beyond accolades, they instil confidence, prepare for higher education demands, and often allow you to contribute meaningfully to societal conversations or causes, making an impact with your ideas.

Who is eligible to enter the Re:think essay competition?  

As long as you’re currently attending high school, regardless of your location or background, you’re eligible to participate. We welcome students from diverse educational settings worldwide to contribute their unique perspectives to the competition.

Is there any entry fee for the competition? 

There is no entry fee for the competition. Waiving the entry fee for our essay competition demonstrates CCIR’s dedication to equity. CCIR believes everyone should have an equal chance to participate and showcase their talents, regardless of financial circumstances. Removing this barrier ensures a diverse pool of participants and emphasises merit and creativity over economic capacity, fostering a fair and inclusive environment for all contributors.

Subscribe for Competition Updates

If you are interested to receive latest information and updates of this year’s competition, please sign up here.

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International Organization for Chemical Sciences in Development

⇑ Global Essay Competition

2024 Essay Competition

Call for essays.

In November 2023, IOCD launched the second year of its annual essay competition on the role of the chemical sciences in sustainability, in collaboration with the Royal Society of Chemistry (RSC). See here . The competition is open globally to entrants under 35 years of age on the closing date of 31 March 2024 . The theme for the 2024 competition is:

How can the chemical sciences contribute to ‘decarbonizing’ the production of energy and to eliminating the generation or release of greenhouse gasses from large-scale manufacturing and agricultural processes?

Essays will be grouped into seven regions for the selection of winners, based on the entrant’s country of normal residence. Each regional winner will receive a prize of US$500 and their entries will be published in RSC Sustainability . The shortlisted essays selected as Finalists will be collected in an annual compendium, Young Voices in the Chemical Sciences for Sustainability, published as a PDF online and available on IOCD’s website . Individual shortlisted entries will also be featured from time to time on IOCD’s website. See here for the 2023 regional winners and finalists. The seven regional groupings are:

• East Asia & Pacific
• Europe & Central Asia
• Latin America & Caribbean
• Middle East & North Africa
• North America
• Sub-Saharan Africa

Broad flexibility will be applied in assessing the approach taken by entrants to framing the theme. Essays will be judged on how well they highlight the importance of scientific approaches grounded in the chemical sciences for solving sustainability challenges. Entrants are encouraged to take a wide, global perspective, including reflecting on the intersection of science, society and policy aspects, rather than to describe a particular scientific advance in great technical detail. Entrants should create their own title for their essay, related to the theme set. Essays must not exceed 1500 words of main text.

The following downloads are available:

• 2024 Essay Competition Rules and Guidance Note here .
• 2024 Entry Form here .

Call for Volunteer Evaluators

IOCD invites volunteers from around the world to assist in the evaluation of the entries for the 2024 competition. Volunteers should have a postgraduate degree/experience in a field related to the role of the chemical sciences in sustainable development (whether in education, research or industry) and be willing to undertake scoring according to set criteria and commenting qualitatively on up to 20 essays during the period March-May 2024. Every volunteer will receive a Certificate acknowledging their contribution to the competition.

IOCD is seeking more evaluators. An application form to register as a volunteer can be downloaded here .

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Berggruen Prize Essay Competition

The Berggruen Prize Essay Competition seeks to stimulate new thinking and innovative concepts while embracing cross-cultural perspectives across fields, disciplines, and geographies. By posing fundamental philosophical questions of significance for both contemporary life and for the future, the competition will serve as a complement to the Berggruen Prize for Philosophy & Culture, which recognizes major lifetime achievements in advancing ideas that have shaped the world.

The inspiration for the competition originates from the role essays have played in the past, including the essay contest held by the Académie de Dijon. In 1750, Jean-Jacques Rousseau's essay Discourse on the Arts and Sciences , also known as The First Discourse , won and notably marked the onset of his prominence as a profoundly influential thinker. Similarly, our competition aspires to create a platform for groundbreaking ideas and intellectual innovation.

The annual Berggruen Prize Essay Competition will accept submissions in two languages: Chinese and English. Each language category will have a prize of $25,000 USD and intends to recognize one winner, though there may be multiple winners in any given year.

The Berggruen Institute will host an award ceremony and convene the authors of the winning essays in dialogue with established scholars and thinkers at one of our global centers. We plan to publish the winning essays in our award-winning English-language magazine Noema and Chinese-language magazine Cuiling , giving readers insight into perspectives of both East and West.

We are inviting essays that follow in the tradition of renowned thinkers such as Rousseau, Michel de Montaigne, and Ralph Waldo Emerson. Submissions should present novel ideas and be clearly argued in compelling ways for intellectually serious readers. We are not seeking peer-reviewed academic work. Below is a selection of exemplary essays that epitomize the genre and style we look for. While some of these pieces are authored by already distinguished thinkers, we have chosen them primarily for their exceptional embodiment of genre and style.

• Chomsky, N. (1967). The responsibility of intellectuals. The New York Review of Books .
• Frankfurt, H. G. (1971). Freedom of the will and the concept of a person. Journal of Philosophy , 68(1), 5-20.
• Fukuyama, F. (1989). The end of history? The National Interest , 16, 3–18.
• Huntington, S. P. (1993). The clash of civilizations? Foreign Affairs , 72(3), 22-49.
• Nagel, T. (1974). What is it like to be a bat? The Philosophical Review , 83(4), 435-450.
• Sontag, S. (1966). Against interpretation. In Against Interpretation and Other Essays (pp. 3-14). Farrar, Straus & Giroux.
• Walker, S. (2023). AI is life. Noema Magazine .
• Zadeh, J. (2021). The tyranny of time. Noema Magazine .

Eligibility Criteria

Submission requirements, code of conduct, terms & conditions.

Required fields are marked with *

Advisory Panel

• Lucas Angioni
• Arjun Appadurai
• Julian Baggini
• Tongdong Bai
• Rajeev Bhargava
• Annabel Brett
• Craig Calhoun
• Dipesh Chakrabarty
• Lesong Cheng
• Weiwen Duan
• Robyn Eckersley
• Sam Fleischacker
• Christia Fotini
• Gan Chunsong
• Rebecca Newberger Goldstein
• Asher Jiang
• Michèle Lamont
• Meira Levinson
• Chenyang Li
• Qiaoying Lu
• Jianhua Mei
• Pankaj Mishra
• Viren Murthy
• Thierry Ngosso
• Mathias Risse
• Emma Ruttkamp-Bloem
• Vladimir Safatle
• Allison Simmons
• Smita Sirker
• Xiangchen Sun
• Sigridur Thorgeirsdottir
• Samantha Vice
• Robin R. Wang
• Dingxin Zhao
• Zhao Tingyang

Final Project

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About the Final Project

Do you care about climate change? Want to tell the world about the issue in a creative way? Submit your final project by creating a fact-based essay or a work of multimedia work (make a video/podcast interview or animated short video/your own talk show…etc.) to express your thoughts on a climate topic that you care about most.

Project Topic

Your final project can cover any aspect of climate change, such as: - climate change effects - climate change costs - how to fight climate change - what your country or other countries, institutions, or individuals are doing - reducing your carbon footprint - renewable energy sources - environmental justice Contribute your proposal and win the opportunity to speak as the young leaders’ representative at the annual Caixin Summit happening in mid-November. The Caixin Summit is Caixin’s highest-profile and largest conference series, and is recognized as one of the most authoritative and forward-looking annual events in the economic arena of China. Converse with opinion leaders and key policymakers in the field, get ready to learn and be inspired.

Essay - Submission should be limited to 500-800 words (excl. abstract, bibliography, and footnotes). - The file format: PDF or Word document Work of multimedia - The length for your video or audio recording is three to five minutes - The file format: mp3, m4a, mp4

Essay The essay should be written in English. Multimedia work The video or podcast should be recorded in English. English subtitles will be needed if part of your work contains other languages.

Sept. 30, 2022, 11:59 p.m. (GMT+8)

Individuality:

Essay Individual work is required. The essay must be written exclusively for this project, and the ideas must be the author’s own. Multimedia work Individual work or teamwork (up to two producers, both of whom should participate on the program) is accepted. The work must be original and created exclusively for this project. ＊General requirements: The work must not contain obscene, violent, pornographic, defamatory, objectionable, insulting or any of the controversial and inappropriate content.

Essay All sources must be cited, whether APA, MLA, Chicago, or Harvard referencing styles. Multimedia work - If you need to use materials belonging to others in your video, you must comply with copyright and fair use policies. - If the work contains authorized material(s) or requests a permission during video/audio recording, the entrant should obtain the authorization(s) from the copyright owner(s) or corresponding venue owner(s). You may be requested to show their approval documents.

• General questions: 1. Who can participate? All participants of the SMART Talks on climate change are eligible to join the final project. 2. Who will judge my work? Your work will be judged by a jury of five, including Caixin’s ESG editor and top professors from Yale University. 3. When will the results be announced? The jury's decision will be announced on the project’s official website at the end of October. All participants will be notified directly via email.
• Essay Competition: How long should the contribution be? All entries must be 500-800 words. The word count excludes all bibliography, footnotes, and graph descriptions. Please make sure to state the exact word count in your document.
• Multimedia work: 1. If I want to work as a team, will you assign a team member to me? No, we encourage you to team up with another member of this program by yourself. We do not accept work completed by a group of more than two people. 2. I have already submitted the group work. Does my other team member need to submit it again? Yes. Please submit your work separately with both of your names on the submitted file.
• Participation: 1. What documents do I need to submit? In addition to your contribution, please make sure to upload a copy of your passport (or student ID) to verify your age and institution. 2. I haven’t received an acknowledgement that my essay has been submitted. Have you received it? We will send you an automatic confirmation email once your essay is received. If you do not see this confirmation within three days after you submit it, please contact [email protected]

SMART Talks aim to inspire young people to think, talk, and act smart about climate change issues

Email: [email protected] Wechat: 关注微信公众号CaixinGlobal财新国际，给我们留言

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BI students win competition with essay on the AI revolution

MSc students Philipp Athanasiadis and Johannes Javorsky came out on top with their essay discussing who really stands to gain from the rapid rise of generative AI. 

The two are this year’s winners of BI’s Opinion Essay Competition, which is organised as part of the master course Ethics and Sustainability in Organizations each semester. 

“We feel very honored to have won this year’s opinion essay competition and are happy to see that critical thinking is valued and encouraged,” say Philipp and Johannes. 

In their essay, the two students question who really will benefit from the generative AI revolution and the possible extreme boost in productivity it is expected to bring. 

Addressing AI responsibly

“We deeply believe that generative AI is an increasingly disruptive technology that will certainly change our future. How we deal with it will define whether the changes will be for the better or the worse. In our opinion, addressing generative AI responsibly is one of the most important challenges of today.”

The winners of the competition receive a prize of NOK 10,000 in addition to having their essay “Generative AI: A bright future ahead of us – but for whom?” published as a featured article on BI Business Review. 

Leaders of tomorrow

Professor Caroline Dale Ditlev-Simonsen is responsible for the competition. She describes the essay competition as a great alternative to just tasking students with writing a regular assignment. 

“This competition demands students to apply what they have learned, critically reflect, and take a personal stand on how the world of business approaches sustainability. Initiatives like this aim to support and enhance students’ skills and engagement when it comes to sustainable development and corporate sustainability. These are all highly important things to learn for a group of people that represent the leaders of tomorrow,” says Ditlev-Simonsen.

This year’s jury consisted of Karen Spens (President of BI), Abhimanyu Manimaran (Director Strategy and Partnerships, UN Global Compact Norway), Linn Dybdahl (Senior Adviser, NMBU) and Pål Nygaard (Associate Professor, BI). 

Read the winning essay here: “Generative AI: A bright future ahead of us – but for whom?” 

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