Click the link to view the full version: WASCZ丨Empowering Tomorrow’s Tycoons: ASDAN Business Simulation
This past weekend saw WASCZ host the prestigious ASDAN Business Simulation Competition. Over one hundred students competed, including groups from our sister schools in Hangzhou and Nanjing. It was a privilege to spend time with the wider WAS family, as well as the dedicated ASDAN staff.
ASDAN China’s Business simulation is a competition which has been running since 2011, with the express purpose of giving future business leaders the opportunity to experience the high stakes reality of creating and operating a business at a young age. Over time, the competition has grown in size and reputation, to the point where it is now the most respected competition of its kind across the country.
Students were tasked with creating a business centered around a predetermined theme. In this case, it was desktop computers. Whilst this may sound difficult, students were given support. In the days leading up to the event, Mrs. Wang and Mr. Naraynen kindly offered their time to help our teams prepare, and there was also an official ASDAN training session.
Auction Round
After an exciting opening ceremony, the competition swiftly began with the auction round. Students were very enthusiastic to get the machines and materials to build their offices for their businesses through the ASDAN mini program. They need to carefully spend the money in order not to go bankrupt.
After auction round, each group had to devise a company name, logo, design the product and decide on their business strategies. This was a comprehensive challenge, involving marketing, mission statements, human resources, partnerships, sustainability and investment. Participants had to pay close attention to a very detailed brief, or else they would face difficult challenges as the simulation progressed.
Each team had to appoint a CEO, CFO and all other major board positions within a company, teaching them about the importance of delegating responsibility. After having Saturday night to get ready, they had to showcase their creations in front of the judges on Sunday morning.
During this section, the teams faced questions from both the panel and fellow participants about their products and business plans. They were marked on their presentation skills, as well as their ability to respond. We are certainly proud of what they were able to produce, and the professionalism that they displayed.
Operation Round
After laying out their plans, they had to put their ideas into practice during the operation rounds. This entailed teams making real-time decisions about how to run their business, whilst the financial consequences of each action were determined in order to provide them with a final profit or loss analysis. Naturally, this was the most important round, which is why it counts for 50% of the overall score. Hence, it was no surprise that the team which won this round went on to take home first place overall. Congratulations to Company 3: ‘Mobuiter,’ on their stunning success. They finished the competition with a staggering￥311,329,363 in profit. This group actually began working on their ideas from the day they signed up, so it is fair to say that they deserved first place.
The closing ceremony was a fantastic celebration of everyone’s achievements across the weekend. Teams who emerged in the top tier for each round were presented with medals, and the best five teams overall received trophies. Our headmaster, Dr. Silverwood, spoke about the importance of the new friendships which had been formed over the weekend. An important sentiment which was demonstrated perfectly by the fact that a joint team comprised of Changzhou and Nanjing students ended up taking second place.
We are so proud to have hosted this inspiring competition, and look forward to the national finals, where the top 60% of our teams will be competing in the semis, and the top five will go directly through to the final itself.
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