THE SIM Business Management Challenge, BMC, was organised as a supporting event to the inaugural Singapore Institute of Management, SIM, Management Festival 2012. It brought students, faculty, and industry professionals together to participate in a real-world business case.
The business management challenge was divided into two parts. The first part involved preparing a business plan and giving a presentation. The second was a field challenge which comprised 25 per cent of the overall score. The marketplace was at the SIM Headquarters’ Atrium. Teams were allocated booth space and a marketing budget to create the desired storefront to attract customers in the form of students, faculty, staff, and visitors to SIM.
PHOTO: E ONG
The four judges of the competition at Team Tangerine’s booth. They are (from left): Vincent Sim, Tan Chin Keon, Cedric Foo, and Dr. Antonio Rappa.
The judges of the competition were Dr Antonio Rappa, associate professor and head of management and security studies at UniSIM, Vincent Sim, general manager ASEAN, Fuji Xerox printer channel, Cedric Chew, associate lecturer at UniSIM and deputy director of business planning and athlete services at Singapore Sports Council, and Tan Chin Keon, managing director of MVO Marketing Pte Ltd.
The stakes were high. Up for grabs was more than S$10,000 in cash and prizes for the winning team. The teams had to impress both the visitors and the judges. At 8:30 am on 4 September, teams attended a short briefing before heading down to finalise their booth preparations in full force.
Dr Rappa said before the field challenge officially commenced: “Each team has got their own merits and demerits; their own strengths and weaknesses. Some have exceeded our expectations of them. The amount of effort and work that these SIM GE students have put into crafting their business plans is very commendable.”
Tan thinks the teams excelled in the creative aspect of the challenge. He says: “I think the purpose of this competition focuses on the process rather than the result. Through this process, teams learn to work together and apply the training they receive in school,” adding that this was evidence of team work.
Team Extraordinaire employed a discotheque theme at their booth. Logos and stickers of local club Zouk were pasted on back wall as they were giving away free club passes to entice potential customers.
Team Awesome were ready to get wet for cash as they employed a concept similar to a dunk tank. However, it used a small container of water triggered by a target hitting mechanism.
Tng Jian Yu of Team Brilliant Future Creators says: “We’re the only team selling Cremo, because it is cheap, and there is a large variety.” His teammate, Wayne Chen thinks the team excelled in the strategic innovation component of the field challenge.
Team Pin-Pint gave away free cotton candy with each ice-cream purchase. Customers also received a chance of winning a year’s supply of free Nestle ice-cream. Team Mov Inn had roses up on offer for anyone who wished to be cupid, or give to their teachers in celebration of Teachers’ Day.
PHOTO: E ONG
A member of Team Pin-Pint manning the store front.
Crowds started streaming in at 10:30 am and the first purchases were made. By 10:50 am, the Atrium was abuzz with activity. Students and staff of SIM queued up to have a go at splashing Team Awesome members. Group photos were being taken with guys of Team Mov Inn who were smartly dressed in black and white. Stall owners busied themselves by peddling their goods, enticing passersbys.
People did not mind forking out a few dollars to aid the students’ causes and indulging in a mouth-watering dessert. By 11:30 am, aided by dance music in the background, the crowd levels peaked. Sales climbed quickly between 11:45 am and 12:45 pm.
The judges of the competition arrived at about 12:45 pm. They made their rounds to each of the booths. The teams explained their marketing strategies and unique selling points—elaborating on their props and equipment to score points. The judges fielded questions of their own to sniff out weak areas.
Members of Team Awesome were upbeat towards the end of the challenge. Team member Authur Kong who volunteered as one of the “splash boys” for the day was glad that it was over. He says: “It was a long and tiring journey, but I think we did well.” Ali Ahmadyaakub of Team Tangerine felt it was a very exciting day and that they had accomplished a lot. Business was brisk and they depleted their stock. Although he was tired, he felt it was a good learning experience.
PHOTO: B LEONG
Overall winners of the BMC 2012, Team Buono.
The BMC 2012 officially ended at 4 pm. Results were announced at the prize ceremony on 5 September at SIM Headquarters. Fuji Xerox’s Vincent Sim spoke a few words before the winners were announced: “Yesterday was a very interesting event where participants put their business plans into action selling ice-cream. There were lots of creative ideas. I brought my sales team here to learn from some of the ideas the participants came up with. Everyone put up a good show, and I would like to congratulate all teams for all their hard work.”
Team Mov Inn was second runners-up. Team Tangerine was first runners-up, and Team Buono were inaugural champions for BMC 2012.
Copyright © 2012 Singapore Institute of Management