WORKING TOGETHER: Taylor's Business School (TBS) has collaborated with yet another top employer. It has joined forces with Tokio Marine Life Insurance Malaysia Bhd to organise the TBS-Tokio Marine Marketing Challenge Trophy 2012.
Thirty-seven students from eight teams took part in this recent online simulation competition. The winning team, Big Bang, won RM500. Legendary and Zebra Cycles, who were named the first and second runners-up of the challenge, received RM300 and RM100 respectively.
Big Bang, comprising business foundation students, Cheah Wern Hong, Ho Wai Jian, Edward Tan Wee Hong, Chia Chee Fong and Chin Weng Ian, won the contest with their compelling marketing strategies. Within five days, each team were required to input its decisions for a bicycle manufacturing company before each business rollover every 24 hours into a software. For every input, a report was generated which included the ranking and performance of a team's decisions.
The challenge was created by Professor Khong Kok Wei, programme director for postgraduates at the business school.
He administered the online simulation software to determine the winners. All teams were judged based on how they overcame an economic crisis by determining the price, product, marketing strategies and market place.
This partnership was initiated in line with the learning institution's mission of becoming "Top Employers' Top Choice University".
"Held for the first time, the challenge was a cross-functional business and marketing simulation competition, which created an engaging experience as well as provided a chance for students to apply theories in real life business situations," said Khong.
Tokio Marine deputy chief executive officer Jun Tokura said: "We strongly believe that young talents are the drivers of economy. The contest prepares students for the workplace by bringing the industry into the campus."
Big Bang team leader Cheah said: "The competition tested our marketing strategies and allowed us to gain first-hand experience of making decisions as owners of a virtual company.
"It was a valuable and worthwhile journey, immersing ourselves in the rigorous five-day online simulation phase and enduring sleepless nights to prepare for the final round of the presentation."