Global Management Challenge is an innovative way to develop the knowledge and skills of our employees It is also an opportunity to discover management potential among young talents.
There were total of 167 teams participated at the Regional Competition which consisted of 158 student teams and 9 corporate and mixed teams from local tertiary institutions, banks, gaming enterprises and public service sectors. After two rounds of elimination, the 8 finalist teams competed for the Champion title of Macao Regional Final.
The award ceremony of the “Bank of China Trophy” Global Management Challenge 2022 Macao Regional Final, organized by the Macau Management Association, was held on 3rd March in the Grand Ballroom of Macau StarWorld Hotel. After five months of intense competition, three teams from Macau University of Science and Technology (M.U.S.T.), namely “LovelyCat”, “Gabby” and “aduidui Team”, won the champion, the first runner-up and the second runner-up, respectively. The champion team will represent Macau in the International Finals held in Angola this November, competing with teams from all over the world for the World Championship.
There were 167 teams in this year’s GMC Macau, with a wide range of talents from university and college students to business elites. After the fierce competition in the preliminary and final rounds, the top eight teams were selected and entered the final. The Macau final adopts the same rules as the international finals, where the teams are required to achieve the best operational performance in the same business environment. The contestants are expected to quickly analyze the competition history, combine their expertise with on-site modeling, and develop strategies for marketing, production lines, human resource management, procurement and financial decisions.
The champion team, “LovelyCat”, consists of three students from the School of Business (MSB) and one student from the School of Liberal Arts (SLA) at M.U.S.T.. The three students from MSB are Tianyi Guo (a postgraduate majoring in supply chain management), Zijian Cao and Wenjun Chen (two undergraduates majoring in supply chain management), while the student from SLA is Yintong Zhang. The team leader Tianyi Guo said that the biggest gain from participating in this competition was to apply what they learned in school to practice. During the competition, they constantly revised and improved their strategy according to the decisions of their opponents. It was not only a test of professional knowledge, but also a test of market judgment ability, spontaneous response and teamwork ability.
The first runner-up team, “Gabby”, consists of five students from MSB, four of which are postgraduates majoring in finance (Junlong Zhu, Dedong Wen, Yanlin Chen and Xiaoxiao Zhang) and one is postgraduate majoring in charity and philanthropy management (Yu Lai). The team leader Junlong Zhu said that this competition not only tested each team’s ability to manage and operate the company, but also required game strategies. Their team tried to expand production by borrowing funds in the early stage, win market share through small profits and quick sales in the medium stage, and increase the price-to-book ratio and net assets in the last phase. This strategy made their company stand out among the competitors.
The second runner-up team, “aduidui Team”, consists of four students from MSB and one student from City University of Macau. The four students include three undergraduates majoring in business administration (Chenlu Huang, Yiheng Chen and Jie Luo) and one postgraduate majoring in supply chain management (Zonghao Chen). The team members said that during the competition, they not only got training on how to inspect the market conditions at an aggregate level, but also learned the application of professional knowledge and the power of teamwork.
The 6th and the 8th winning teams, “Infinity” and “MUSTACE”, are also from MSB. The team members said that although they failed to win the first place in this competition, they learned new knowledge, broadened their professional horizons and won practical experience.
The Global Management Challenge is a simulated enterprise management competition across five continents with the official certification of the European Foundation for Management Development (EFMD). It has a history of more than 20 years. The competition simulates the mutual cooperation and external competition between different departments of the company. Participants can learn how to manage and operate a listed company from this virtual business environment, and effectively master the overall operation mode of the enterprise. Through the competition, contestants are expected to improve their understanding of enterprise management. The participating teams need to make flexible decisions according to the changing market situation with the application of knowledge in finance, management, and operation.