The graduate team of Regent’s University London Business and Management students won top award in the best documents (business plan, annual reports to shareholders) category at the 49th annual International Collegiate Business Strategy Competition held April 18 to 20, 2013.
The team finished with the highest market share on the overall business performance in the competition. The event, which is considered the world oldest simulated business strategy competition, was attended by 30 Universities teams from the United States, Canada, China and United Kingdom. Cal State University, Long Beach hosted the competition in Anaheim, California.
“Our students were really dedicated and committed, I am so proud of them,” said Dr Eric Chan, Faculty Advisor. “Their teamwork, mutual support, personal sacrifices, and hard work exceeded my expectations for this competition.” ICBSC judge, Chris Cook said the documentation presented by the team was awesome.
The Regent’s team, “Regent’s Aprons,” headed by MA Global Management student Victoria Johnson-Chadwick, who served as the company’s CEO. The other members were assigned their own area of expertise,: Ankit Tibrewala (Chief Financial Officer); Mikael Sletten (VP Finance); Birgitte Wegger Kjolseth (Chief Operations Officer); Viktoria Peto (VP Operations) and Adaobi Eluma (VP Marketing).
Started in 1965, the competition provides students with the opportunity to simulate a company, to make high-level business decisions, as well as face the outcome of those decisions, as Board of Directors; over the span of seven years of business (with four quarters each year) for each team’s company, with actual international markets’ simulations from the third year.
Since February 2013, our team started making weekly decisions for each quarter until the end of the fifth year. The last two years’ decisions were made during the “intensive” on-site phase of the competition at the Doubletree by Hilton Convention Centre in Anaheim. In addition to the tasks of making decisions set for each quarter, students were required to submit a business plan with supporting financial projections. They also submitted an annual report upon arrival at Anaheim. The award for best documents reflected the quality of their written material; and their abilities to answer questions from the judges during the business presentation on the simulated company performance.