The regional final prize presentation dinner of the Bank of China Trophy of Global Management Challenge (GMC) 2021, organized by the Macau Management Association, was held on 4th March at 7pm. After four and a half months of fierce competition, the final six teams would compete for the top places in the Grand Final on February 19. Finally, Macau University of Science and Technology took the first 3, 4th and 6th places prizes, they were: "BlackmicroCredit", "Hots" and "YYDS" winning, while "MUSTInfinity" and "MUSTOne" were awarded the fourth and sixth places respectively with outstanding performances.
Vice President and Dean of the School of Business, Prof. So Yuk Chow (center), took a group photo with the winners
There were 110 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 six teams were selected and entered the final. The Macau final was held under the same rules as the international finals, where the teams were required to achieve the best stock price performance in the same business environment. The contestants were 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 final competition emphasized the understanding of the "way of doing business" and tested the professional knowledge, teamwork and adaptability of the teams, effectively demonstrating their comprehensive abilities
The winning team, "BlackmicroCredit", consisted of Yutan Yang, Chang Lu, Yuxuan Qi, and Yixiang Zhu, all of them were undergraduate students majoring in Business Administration. The team leader of "BlackmicroCredit", Yutan Yang, said he was participating in the Global Management Competition for the third time and thought it would help students connect reality with knowledge. He was very excited and proud to have won the Macau championship after past failures, and he said that all the teams competing in this year’s final were competitive and it was difficult to predict the market situation in each period, it was a big challenge for our team members to judge the market expectation and a great test of team cooperation.
The first runner-up team, "Hots", consisted of undergraduate students majoring in Business Administration, XyunTong Song, WenTi Wei, JiaHui Wang, YingFan Hao, and HongRong Lai. The team leader of "Hots", HyunTong Song, said that the final competition focused on the understanding of the competition itself, where it was important for us to learn how to work together as a team, how to model in a short time, and how to use our professional knowledge to analyze history. Song also mentioned that extensive basic knowledge and adequate preparation were the keys to our success, in addition, the simulated corporate decision also enabled us to learn more about company operations.
The second runner-up team, YYDS, consisted of Zhenghexing Wang, Jiayin Hou, Xiaofeng Guo, Boxuan Huang, and Xuchang Zeng, all of them were undergraduates majoring in Business Administration. The team leader of "YYDS" said that the Global Management Challenge not only enabled them to apply their professional knowledge, but also taught them how to cooperate and distribute work in a team. The simulated business decisions helped them learn more about company operations.
The Global Management Challenge is a global business management simulation competition that has been officially certified by the European Foundation for Management Development (EFMD) across five continents for more than 20 years.
The competition simulates the cooperation and competition between different departments of a company. Participants can learn how to manage and operate a listed company in this virtual business environment, and effectively acquire the overall operation mode of a company through the competition to improve their understanding and knowledge of business management. The teams were required to make flexible decisions based on the current situation, combining knowledge of finance, management and operation. Through this competition, students not only enhanced their knowledge, but also greatly improved their management and decision making capabilities, which they said was a rare practical experience.