AIESEC QUT 2008-2009

In the Financial year 2008/09, AIESEC QUT as a LC has successfully achieved excellent results in exchange. Through the efforts of the 2008 and 2009 Executive Board and their teams, the performance is as follow:

4 EPs realized 1 TN realized 14 EPs raised 2 TNs raised

For 2008/09, the ratio of exchange incomes is 52% and the ratio for 2007/08 is 21%. The exchange income in 2008/09 is $10,850 while in 2007/08 the exchange income is $3,550.00. This gives a difference of $7300. It is evident that there has been a significant improvement in the amount of profit generated from exchange.

The huge increase in exchange income was from the 14 EPs and 2 TN raised. This is a reasonably good result for AIESEC QUT because the LC doesn’t need to rely on sponsorships to continue its operation.

2008/09 2007/08

TN Raised 2 0

TN Realised 1 1

EP Raised 14 7

EP Realised 4 4

• From the previous year’s expenditure strategies we realised that money wasn’t spent in the right places.

• In 2007/08, administrative costs were $966.00 and clothing expense was $1504.00 and marketing expense was only $267.16. There were no events held to promote exchange to QUT students. It is clear that our exchange performance could have been better if more money was spent on marketing.

• So this year, we reduced administrative and clothing expenses and funded events to promote EXCHANGE!!

• Events• Exchange Information Session• Exchange Bursaries• Recruitment• Conference Subsidies

A two day event which cost $400 was held in August to invite students from BEE and Business Faculty to hear about exchange opportunities. The exchange opportunities were printed out and put next to the finger food provided so while students were getting something to eat they could pick up and read the opportunities they were interested in. This event also became a networking event for members to share their exchange experiences and for students to get in contact with us later.

All QUT Students were invited to this event which cost around $500 to hear about the exchange opportunities available along with a Guest speaker. This event is similar to the previous event described.

Approximately two weeks before the MRB, OGX held an exchange information session. Printing brochures were the only expense and this session alone attracted more than 40 interested students.

While QUT students came for the free accounting training and software, current exchange opportunity printouts were passed around for them to view during the breaks.

3 exchange bursary opportunities were offered to engineering students which was sponsored by the BEE faculty. Each bursary was $1500 each. In order for the student to receive the bursary, they were required to write an essay and had to be realized by the end of December. Many students applied for this bursary however they were raised but not realized by the end of December so it wasn’t given out.

During recruitment, a few of our members wore t-shirts with “DO Exchange” while at uni and chalk was written outside QUT premises to promote exchange. This cost $200 and it was really effective because it became a lunch topic for uni students who were curious where it came from. The symbols were also stuck outside of our office to join the link.

During induction, materials were bought for TM to provide engaging activities while giving clear and consistent messages to new members about the AIESEC Experience. We explained to them the full AIESEC experience cycle and why they should take up exchange opportunities. Most of them filled out their exchange participant application form with their member application form straight away.

Subsidy of $80 was given out to each member going to JanCON in Adelaide. This subsidy was given out to encourage new members and the new executive team to come to the conference to meet other AIESECers, to make contacts and to learn more about AIESEC so that they can sell AIESEC to QUT students and corporate.

• In March, subsidy of $500 each were given out to our ICX and OGX directors and NST OGX Delivery Manager to go to APXLDs International conference in Hong Kong .

• They formed many LC partnerships, developed many friends and contacts, learned lots more about exchange and quality videos were produced which can be used for future recruitments.

• Unexpectedly, our exchange directors were on Hong Kong’s local newspaper (A Bonus )

The rate of return on investment in exchange strategies of 132% in 2008/09 is higher than the 2007/08 rate of 49.9%. The difference between the two years is $6177.59. This shows that the performance and profitability of our LC is very good. Also AIESEC QUT has efficient management and it has the ability to fund further growth.

Exchange Income $10850.00 $3550.00Investment Exchange Strategies

Exchange Expenses 1006.84 426.87

Recruitment Expense 309.51 328.61

Marketing Expense 455.34 267.16

Event Expense 559.80 0.00

Clothing Expense 750.00 1504.09

Training & Development 4937.46 3618.44

Administrative Expenses 214.69 966.06

Total Investment Exchange Strategies $8233.64 $7111.23

Return on Investment in Exchange Strategies $2616.36 - $3561.23

Ratio 132% 49.9%

• 52% Income Sourced from Exchange ($10850.00)• Investment in Exchange strategies include

Events Exchange Information Session Exchange Bursaries Recruitment Conference Subsidies

• 132 % Return on Investment in Exchange strategies ($2616.36)

• Subsidy of $200 will be given out to members going to VicCON in July. This will activate the new members who did not go to state conference and also motivate them to take up a leadership role for next year.

• More investments strategies for ICX • Reducing expenditure of events but not cutting down the quantity and

quality• Maintain Training and Development expense because it is important to

provide training to members to drive exchange results