Playing boss can be rewarding
Participants enter the annual competition in teams of four and are required to create and operate their "own" companies. Amid a volatile business environment, they tackle a number of challenges to maximise profits and market share.
"The participants learn to apply management skills and make business decisions in various areas including labour, allocation of resources and production," says Glover Chan, senior marketing manager at the Hong Kong Management Association (HKMA), the competition organiser.
"Throughout the game, they are confronted with various challenges such as strike and resource constraints. As a team, they need to develop the best solutions to tackle the challenges. The competition emphasises the value of teamwork."
Participants are required to hone diverse skills in the fields of finance, production, investment and marketing in different economic conditions. They need to make sound business judgments consistently and integrate them into well-developed strategic plans.
The game benefits individuals who aspire to be managers by providing valuable learning experience in a competitive atmosphere. "It inspires the participants to [enhance] their knowledge of management skills and encourages them to analyse issues and develop solutions from the management's perspective. It also broadens their horizon," Chan adds.
The game features a sophisticated computer program that simulates a realistic business environment. Participants can relate to the issues raised during the game without the fear of failure. It allows players to practise specific skills in risk-taking, decision-making and negotiating. They learn practical skills in a stress-free environment.
Each team competes in a self-contained contest over eight accounting periods spread over two months. All rounds, except for the Hong Kong final, are played via e-mail. Teams must formulate decisions based on data provided in each round and submit their decisions once a week.
Throughout the eight rounds, the teams' decisions are assessed by judges. All competing teams will also r