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Travel the world with an all-expense paid trip!
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Share your ideas to solve corporate real estate challenges and win $5,000!
The CoreNet Global Academic Challenge invites teams of students studying any field and from anywherein the world to participate in a case competition with a $5,000 grand prize.
Students (undergrad & grad, full and part-time) from around the world are invited to think creatively about a problem facing real estate professionals for renowned companies like Google, Duke Energy, AstraZeneca, Whirlpool, and many others. In exchange? Travel the world with an all-expense paid trip to one of our Global Summits in Asia or North America. Challenge your mindpower by competing with your peers from around the world. Gain international experience. Connect with experts. Win USD $5,000 for your team.
You and your teammates will engage in a contest with competing institutions. Your job is to address challenges like creating an employee experience that attracts millennials while retaining all other generations of employees; or reducing the gap between the speed of business and the typical speed of real estate.
THE CHALLENGE
You and your Real Estate Team at Company X, a global leader in either the financial services, IT, pharma/life sciences, or manufacturing sector, have been discussing recent reports about the overall economy. The team sees warnings that raise the spectre of recession such as:
- the IMF has lowered its forecasted growth for the world economy in 2019;
- trade tension between the US and many nations, especially China;
- the continued slowdown in the Chinese economy;
- slowing and weakness in the US housing market;
- rising mortgage rates in the USA;
- the narrowing of the yield curve (a signal that bond investors expect a recession); and
- significant economic and geopolitical risks stemming from Brexit, ongoing tensions in the Middle East, and US-Chinese tariff negotiations.
All these signs may point to a recession either in late 2019 or in 2020. In fact, a recent Newsweek Article suggests that most CFOs for large corporations believe that a recession in coming by late 2020
The Global Financial Crisis of 2007-2011, caught most companies and the Corporate Real Estate Team at Company X by surprise. The team has decided to develop a proactive strategy to (a) “Recession-proof,” to the extent possible, the real estate portfolio; (b) continue to support the business objectives of the organization; and (c) ensure that such a strategy does not negatively impact the company in the unlikely event that a recession does not materialize.
As part of this project to develop the strategy, the team has determined that they need to meet with key business leaders at the company and develop an understanding of likely responses of the business and the respective business lines to a recession. Using that understanding the team will develop the Real Estate response.
Your response should offer practical tactics corporate real estate professionals can employ to help their companies prepare for the next recession. These tactics should position the organization to be more effective during the economic downturn so that when growth returns, it can be even more competitive and successful. Your presentation should address the impact your response will have on the corporate real estate footprint in the short-term and long-term.
Robert Kennedy famously said: “All of us might wish at times that we lived in a more tranquil world, but we don't. And if our times are difficult and perplexing, so are they challenging and filled with opportunity.” With this in mind, teams should not only recession-proof but innovate. Your response should not focus solely on disposing of property but rather ensuring that property is used to create a culture that helps employees through challenging times at work during a recession.
Teams selected for the Final Round will be assigned a corporate profile including revenue, demographic, portfolio, and strategic information to help get you started (only teams selected as finalists will be shown the corporate profiles).
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