International Macro Business Simulation Competition 2022
Background:
The International Macro Business Simulation 2022 aims to provide students with the edge to broaden their business acumen, critical thinking and competitiveness in the community through the experiential learning experience of Business Management Simulation.
The competition consisted of four rounds. Participating teams were required to go through a month-long Bootcamp on learning the Macro Business Simulation (MBS) system. Students participated in virtual business cases and ran their own “company” through the system. It challenged participating teams with the understanding of how different indicators react to different decisions and allowed students to evaluate different aspects like inflation rate, growth rate, interest rates, and also the effect of marketing, R&D investment, etc. Each team had to balance its revenues, profits and expenditures to gain the highest NPV in the competition.
The top 2 teams who achieved the highest scores through 4 rounds of the simulation game were given the opportunity to present their business strategy to the panel of judges on June 11, 2022. Three winners were chosen after the presentation.
Website / Image URL:
https://icetech-hk.com/competitions/mbs-ecase-competition-hong-kong-2022/
Award(s):
The Champion
Faculty Advisor:
Dr. Buehlmaier
Awardee(s):
Team name: tipSEA
Mr. Yu Er Han Arthur, BBA(IBGM), Year 1
Miss Madera Brianna Izellah Pajarillo, BBA(IBGM), Year 2
Miss Karine Pangestu, BBA(IBGM), Year 1
Miss Fu Hiu Yan Mavis, BBA(IBGM), Year 1
Miss Fung Regan, BBA(IBGM), Year 1
Students Sharing:
“This macro business simulation competition has been a fun and enriching experience. From revenue forecasting to production & financial planning, it enriched our team with a taste of the real business world through the practical considerations we had done in the simulation. Besides the business simulation, one of the highlights of this wonderful experience was the team’s ability to present and justify our decision making to the judges and it was key to winning this competition. This fruitful experience has broadened my business horizons and nourished my technical knowledge and soft skills.”
(by Yu Er Han Arthur)
“The competition was overall very insightful and interactive. My team and I learned a lot about business analysis through modeling and fundamental concepts about the success of a business. We were also pleasantly surprised when we found out that we won the competition!”
(by Madera Brianna Izellah Pajarillo)
“This was my very first macro business simulation, so to be expected there was a steep learning curve throughout the process. Fortunately, the competition offered boot camps and practice sessions, and along with my patient teammates, I acquired and developed technical skills that benefited me in an actual workplace scenario. Having to forecast and predict future scenarios and make decisions based on competitors and market analysis, as well as taking into consideration a multitude of factors like interest rate and conversion rates, was a new but exciting process to learn. I encourage students with the passion and patience to sign up for this memorable experience!”
(by Karine Pangestu)
“The competition was definitely different from past case competition’s I have joined, requiring students to quantitatively evaluate, analyse and calculate the spending for each aspect of the business. After each round, it was important for all team members to come together and discuss the changes that came from our past decisions and alter the strategy in order to attain the best results according to the criteria in which the competition was marked off. Overall, it was really insightful as a comprehensive yet brief overview of the different departments and their roles within a business.”
(by Fu Hiu Yan Mavis)
“Our team did not expect to win, so we were all very surprised when the judges announced our team as the winner! We believe this was only possible because of our strong understanding of how businesses work, fascination with modelling and amazing teamwork.”
(by Fung Regan)
