CityU winning team to represent Hong Kong in Global Business Challenge

The international business competition, CIMA Global Business Challenge 2015, is organised by the Chartered Institute of Management Accountants (CIMA). It is designed to bring out the best in the young business leaders of tomorrow. This year the challenge drew some 130 teams of more than 500 undergraduates in Hong Kong alone.

The winning team “CityU Case Fighter” comprises four Year 3 students: Alan Duan Yanlin, Lydia Liu Chunyou and Bella Jiang Xinnan of the Department of Accountancy; and Lisa Zhou Hanye of the Department of Economics and Finance. The four students won the Championship and the Best Video Award in the final contest held in Hong Kong on 13 June. They will compete with the winning teams of another 25 countries/regions in Poland in August.

The teams were challenged to act as management consultant and analyse and evaluate the issues facing a hypothetical oil/gas exploration and production company. The undergraduates needed to come up with a report that addresses the challenges.

Only five finalists out of 130 teams were shortlisted to present at the regional final where they delivered their presentations to the panel of experts.

“CityU’s team succeeded in adopting the role of business consultants and completed the work in a clear, concise and pragmatic business manner,” said Dr Aidan Goddard, Chairman of North Asia Regional Board & Hong Kong Branch Committee, CIMA.

"As a team of four, we spent a lot of late evenings on discussion sessions and rehearsals. We also advised each other how to present our ideas in a logical and professional manner," said Lydia Liu, the team leader.

The team demonstrated the practical application of finance knowledge such as using the Black-Scholes model in calculating option pricing, and that of accounting knowledge such as making the pro-forma financial statements.

“We want to thank our advisor Mr David Yip Sai-on, who has given us a lot of advice and insight in how to think outside the box,” said the students. Mr Yip is a Senior Teaching Fellow in the Department of Accountancy, CityU.

CIMA is the world’s largest and leading professional body of management accountants. The institute has more than 227,000 members and students in 179 countries and regions.