ICBSC (International Collegiate Business Strategy Competition) is the world’s longest running, most comprehensive business competition. Universities from various countries competed with each other in the way of running simulated companies through the policy game software, writing business strategy plan, making an annual report and giving a presentation to the ”board of directors”—a panel of judge. The 49
th ICBSC, hosted by California State University, long beach, was divided into two phases: the 10 weeks’ remote phase and 3days’ on-site intensive phase which was located in Anaheim, California. ICBSC began on January 23, 2013.
ICBSC, designed to enable students to integrate and apply the theories of business courses to running companies in a changing business environment, attracted 29 teams from different states of USA, Canada, Britain and China. The STU team, founding the Infinity Company, consisted of four students, Peiling LI (2010 International Business), Peiyu DENG (2010 Accounting), Yuting ZHOU (2010 International Finance), Liuying YU (2011 Accounting) and finally won the second-runner up place.
The STU team not only learned a lot from the operation of company but also earned friendship in different kinds of social activities.
【The ICBSC Experience】
During the remote phase of ICBSC 2013, the STU team founded Infinity Company and played different roles according to the major feature: Peiling LI acted as CEO, Peiyu DENG, CFO, Yuting ZHOU, COO, and Liuying YU, VP of marketing. We took over a company with 2 years’ history and would run it and make decision about production, human resource, marketing and finance each quarter based on the analysis of the economic situation of simulated world as well as our competitors’ strategies and action and based on our sales forecast. After the third year’ operation, ICBSC required us to make a business plan of year 4 to year7 and sent 4 hard copies to California State University, long beach. After the fifth years’ operation, we also made the year 5 annual reports and took it to Anaheim for judges and other teams.
During the on-site intensive phase, we had three major missions, finishing the year 6 and year 7 operations, informal communicating with “board of directors” and giving a formal presentation to report what we brought to our company and what we would do in the future. A panel of judges recognized and highly praised our effort. Just as what they said, “you are doing better and better”, Infinity Company though had hard time influencing by unfamiliarity with the simulation software, bad market and economic situation, and the raising crazily exchange rate, we managed to turn the depressing operating situation to a brighter way with raising net income and stock price and was becoming more solid and stable.
【Social activities】
Apart from the tense competition, our team also enjoyed all kinds of social activities, including the welcome dinner, award banquet, cocktail party and so forth. The social activities provided good chances to communicate with international students, to learn from each other and build friendship.
【Participants impression】
This 4-months competition was the one of greatest challenges in our university life. What we gained from ICBSC was not only the ability to utilize knowledge into real world business, but the business mindset, staying clam and never lost hope. Also, it is the global horizon and the overall competitiveness that we improved, and this competition will definitely positive effect a lot to our future career.
The second runner-up trophy was the best recognition and encouragement to us. Here, we want to give our sincere gratitude to Professor King Wu, our advisor who always supports us and gives us a lot of encouragement. Last but not least, specially thank STU business school and Li Ka Shing foundation, without them this experience cannot come to reality.
