CUHK Global Business Students Win the Global Championship in CIMA Global Business Challenge 2009
Four Global Business Studies (GBS) Year 1 students from The Chinese University of Hong Kong (CUHK), Steven Chan, Janie Fung, Thomas Lai and Katie Sham championed at the Global Final of the Chartered Institute of Management Accountants (CIMA) Global Business Challenge held in Singapore on 21 August, following their championship in the Hong Kong Regional Final held earlier in June.
The CIMA Global Business Challenge is an international competition organized by the Chartered Institute of Management Accountants (CIMA) annually to bring out the best in potential business leaders among young people around the world. In the Global Final, Anova, the GBS team, competed with other seven national champions from the U.K., Ireland, Sri Lanka, India, Mainland China, Malaysia and Singapore.
Participants had to work on a case about Solberri, a fictitious premier resort chain located in the Mediterranean Sea, which was once a global benchmark in the industry but suffered years of disappointing performance. They were asked to serve as consultants for the Board of Directors to offer solutions to the problems observed at both the strategic and operational levels.
Participating teams were required to present their business case in front of an international judging panel of prestigious experts including Aubrey Joachim, CIMA President (Global); Ray Perry, Director of Brand, CIMA (UK); Simon Hurst, Chief of Staff, Goldman Sachs (Shanghai); Vince Cooke, CEO, Islamic Bank of Asia (Singapore); Karina Davis, Sales and Marketing Director, Swissotel (Singapore); and Richard Soh, CEO, SMa School of Management (Singapore). The Anova team had impressed the panel by putting forward feasible and professional proposals to restructure the company’s business portfolio, introducing new marketing package and channels, as well as strengthening the company’s service-oriented human resources training. Eventually, the team outperformed the other regional champion teams and won the Global Final champion trophy.
“I would like to congratulate Anova on their outstanding achievement in winning the global championship. This shows that Hong Kong is producing first class business leaders who can use management accounting techniques to help business outperform others,” commented Mr. Leo Cheung, Divisional President of CIMA Hong Kong. “It is only with students like this that we can ensure Hong Kong remains a leading hub for commerce in China,” added Leo.
Prof. Gordon Cheung, GBS Programme Director said, ‘Last year our GBS students actively participated in both local and international case competitions. I am very pleased that the majority of them brought home with remarkable achievements and awards. More importantly, they have gained international and industrial experiences, which are particularly valuable for this winning team, who have just completed their first year of studies in the university. It was certainly not an easy task for them to work on such a complicated business case, and I am deeply impressed by their high-flying determination to really take on this global business challenge.’
Introduction of CIMA
The Chartered Institute of Management Accountants, founded in 1919, is the world’s leading and largest professional body of management accountants, with 171,000 members and students operating in 165 countries, working at the heart of business. CIMA members and students work in industry, commerce and not-for-profit organisations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers’ choice when recruiting financially-trained business leaders.
CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.
According to independent research conducted by the University of Bath School of Management, CIMA’s syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed. See the CIMA Difference report for further information at www.cimaglobal.com/thecimadifference. CIMA has been awarded Superbrand status in the UK for a third year in a row this year and for the first time in Sri Lanka.
Introduction of GBS, CUHK
Global Business Studies (GBS) is offered by The Chinese University of Hong Kong in collaboration with the Copenhagen Business School and the University of North Carolina at Chapel Hill. It represents a first in business education and allows students from three different universities to work in teams and to share classes in Denmark, Hong Kong and the United States. Students also visit corporations and government agencies in Europe, Asia and the United States. GBS is designed to produce well-educated business professionals with broad experience of other cultures, thus allowing them to rise to the challenge of today’s dynamic globalized world economy.