From the left: Rolands Abele - Head of Product Development, Aiga Babre - Deputy Head of CSU, Girts Strazds - Local risk manager, Anna Meilere - Sales Manager, Rihards Petkevics - Credit Analyst.
Rihards Petkevics, Captain of Nordea team “K 15”, Credit Analyst:
“We’re glad that we have proceeded to the semi-final despite the tough competition. The main driving force that helped to win the competitors was the team spirit. Each of us acted in the interest of the team and was motivated to achieve the best result. No doubt that professional experience of the team members in various fields was important. Deep knowledge of company financial analysis, project / team management and decision skills helped to win the tournament. Team’s daily work was organized to make the best of each meeting by analyzing the market situation, forecasts and previous year results.”
Our team was in charge of a mobile telecommunication services provider and adopted strategic decisions regarding promotion of products in the market, prices and amount of investments. Our core strategy was similar to Nordea operation strategy as we chose “in the Middle of the road tactic” meaning not to exaggerate with product prices or volumes but be somewhere in the middle between our competitors’ offer. From the beginning of the tournament, we tried to calculate the most efficient way of capital management and the possible amount of investments. As years of the simulation passed by and as competitors changed decisions significantly, the important factor was flexibility of our decisions and proper reaction to current market situation. Consent of all team members in decision making process was important and in discussion process the best solutions were chosen.
The breaking point in the simulation was the third year as this was the year when we set and fulfilled ambitious sales targets. In the third year, our market share of five products out of six was with the highest market share. The third year was, to a large extent, crucial for the course of the tournament in our division. In the fourth year, our task was to keep the leading position which we gained in the third year.
During the training, we gained confidence in our capabilities, we improved team management skills and understand the decision making process better and gained trust in each other. Also the possibility to develop analytical skills and better knowledge of operations of a mobile operator services provider can be mentioned as benefit.
We would like to gratefully thank the organisers of the BTS Business Tournament and competitors for the good time that we had and the possibility to have time off from our routine work.
Nordea Latvia
