MBS Simulated Business Management Competition 2024 (Champion, 1st Runner up)

Congratulations to our students for winning Champion and 1st Runner-up in MBS Simulated Business Management Competition 2024!

The MBS Simulated Business Management Competition is organised by the International Association of Business Management Simulation (IABMS) and HKU SAAS Data Science Lab. It aims to provide students with the opportunity to apply their theoretical knowledge in practical and simulated business environment.

The competition involved a series of challenges that simulated real-world business scenarios. In the six intense rounds, each participating team was required to run a virtual enterprise and make strategic decisions related to marketing, finance, operations, and other business functions to achieve the highest overall business performance and profitability.

Among the thirty student teams from Hong Kong and Thailand, our students demonstrated their outstanding critical thinking and decision-making abilities and won Champion and 1st Runner-up in the competition.

Find out more about the competition: https://www.intabms.org/mbssimulatedbizmgmtcomp2024

Awards:

Champion
Team Name: RiskTakers
Team members:
Huang Hongbin, BSc(QFin), Year 2
Sun Zong Zheng, BEcon&Fin, Year 2
 

First Runner-up
Team Name: VPN
Team members:
Wong Man Chun, BSc(QFin), Year 2
Lian Wai Kai, BSc(QFin), Year 2
Poon Tsz Chung, BSc(QFin), Year 2
 

Student Sharing:

“This competition is a precious opportunity for students to utilise academic knowledge learned from the university and integrate real-life decisions. We had the chance to analyse the given economic status and choose the most suitable business strategies to outperform other teams. I learned how to cooperate and communicate with my teammates during the competition to make a guesstimation for different financial budgets and data. 

Furthermore, the competition also required us to finish an on-site presentation regarding our strategies and put forward new ideas for the company's future development. The strict time limit gave me the experience of quick preparation and helped develop my presentation skills significantly. Overall, this competition deepened my insight into the whole industry and made me know more about business management with many soft skills.”
(by Mr. Huang Hongbin)

“Winning as the champion, though very rewarding and encouraging, was not the initial purpose. Participating in the competition was an attempt to push my boundaries and gain a better understanding of business management in real life. Indeed, my goal was achieved, and I learned a lot from this insightful experience. It taught me that the ability to adjust to new conditions is sometimes more important than coming up with a good initial strategy. “
(by Mr. Sun Zong Zheng)

“Participating in the competition gave me valuable insights into various aspects of company operations through a macro business simulation. Analysing our team's conditions and the decisions made by other competitors, it was fascinating to uncover the rationale behind the user interface. Making decisions on different markets and long-term investments provided a hands-on experience that deepened my understanding of real-world business operations. This insightful competition expanded my practical knowledge and exposed me to the complexities of business management.”
(by Mr. Wong Man Chun)

“This competition gave me valuable insights into the fundamental activities and decision-making procedures involved in companies' financial and marketing aspects. It enhanced my understanding of business practices and helped me develop a keen business sense. The competition entailed examining diverse business data to make informed decisions regarding production distribution, marketing approaches, and research and development investments, all crucial for succeeding in the ever-changing business landscape.”
(by Mr. Lian Wai Kai)

“Participating in IABMS workshops and bootcamps offered a great opportunity to acquire and develop technical skills from hands-on field experience. I learned to extract insights from large data and interpret economic indicators. Representing different departments, we analysed and debated business issues like production flow, inventory management, research and development, and project financing. Through active discussion, we created a clear, interconnected presentation. This competition broadened my business horizons, enhanced my technical knowledge, and improved my interpersonal skills.”
(by Mr. Poon Tsz Chung)