Organized by Macau Management Association (MMA), the award ceremony for the “Bank of China Trophy” Global Management Challenge (GMC) 2024 – Macao Regional Final was held on January 10 at the StarWorld Hotel. The School of Business (MSB) placed great importance on the competition, arranging multiple presentations and training activities in preparation. Notably, several outstanding alumni, including former champion Gu Yilin, were invited to share their valuable experiences and insights with the participating teams. Under the meticulous guidance of Gu Yilin, the teams underwent over three months of rigorous preparation and ultimately excelled in the competition. They achieved remarkable success by winning the championship, first runner-up, and second runner-up positions. The champion team, “Miracle”, will represent Macao in the international final this year, competing with teams from around the world for the international championship.

Group photo of MUST winning teams with Dean Sheng Ni (front row, first from left)

This year’s GMC continued to attract talents from various sectors, with a total of 89 teams participating, including 85 student teams and 4 corporate and mixed teams. Eight teams advanced to the final after the first and second round contests. The Macao final followed the rules of the international final, requiring participating teams to strive for the best operational performance in the same business environment. Contestants had to quickly analyze historical data, model on-site, and develop strategies related to market, production and procurement, human resource management, and financial decisions.

The champion team, “Miracle”, consists of Wang Ziyu and Zhang Chi, undergraduate students from the MSB Business Administration program majoring in Business Analysis, and Wu Chenxi, an undergraduate student from the Applied Economics program. Team leader Wang Ziyu stated that the competition enabled him to recognize the importance of practice and application of knowledge. During the competition, the team had to continuously adjust and refine their strategies based on the opponents’ decisions, which tested their professional knowledge, market judgment, on-the-spot response, and teamwork abilities.

Group photo of the champion team “Miracle” with award presenters

Liu Zijian, leader of the first runner-up team “MuscleCat” and an undergraduate student from the MSB Applied Economics program, stated that the competition not only tested the team’s corporate management abilities but also involved strategic interactions between teams. While familiarizing themselves with the company’s situation and setting up operational indicators, the team actively formulated strategies: borrowing to expand production in the early stage, selling at low profit margins with high volume to squeeze the market in the midterm, and finally increasing the price-to-book ratio and net assets to stand out among many companies.

Group photo of the 1st runner-up team “MuscleCat” with award presenters

He Peijian, leader of the second runner-up team “Abstract” and an undergraduate student from the MSB Business Administration program, said that through this competition, team members not only exercised their abilities to see the big picture, think systematically, and make sound decisions, but also enhanced their application of professional knowledge and innovation capabilities, while strengthening their sense of teamwork.

Group photo of the 2nd runner-up team “Abstract” with award presenters

In addition, Sun Jiacan, leader of the fifth-place team “SavageStorm” and an undergraduate student from the MSB Business Administration program, believed that although the team did not make it into the top three in the final, their greatest achievement was gaining new knowledge, broadening their professional horizons, and acquiring valuable practical experience.

GMC is a simulation business management competition officially certified by the European Foundation for Management Development (EFMD), spanning five continents with a history of over twenty years. This competition simulates scenarios involving internal cooperation between departments of a company, as well as competition with external entities. Contestants learn how to manage and operate a publicly listed company within this virtual business environment. Through the competition, they can effectively master the overall operational model of a business, enhance their understanding and knowledge of corporate management, and make scientifically sound decisions based on the current situation, integrating knowledge from finance, management, operations, and more.