On 3rd March, students were invited to participate in the bi-annual “Business Simulation Challenge”. This well-liked event began in 2021 and is organised by the School’s Dr S M A Moin and PhD student Yuanyuan Lai.
The challenge was designed to give students a chance to put their learning into practice. Students spent the afternoon steering a fictitious company through a five-year period. Teams were presented with perceptual maps, financial statements, market share and market scope reports to analyse the current situation of their firm. They then made decisions in areas such as branding and communication with the aim of increasing their firm's share prices over the next five years.
This year, 120 postgraduate and undergraduate students signed up, forming 30 teams. The winning team was made up of undergraduate students and was praised by Ms Lai for their teamwork. Ms Lai said: “They allocated different tasks to different team members, saving them time, and analysed data and reports well, checking the market report financial data and the data of their competitors. Their real business acumen led to them winning a £200 Amazon voucher.
We were pleased to be able to run this event, which empowers students by allowing them to apply what they know to a real-life challenge. The next event will be in the Autumn term. Dr Moin and I would like to thank Dr Patrick McGurk and Professor Yasmin Ibrahim for their support.”