On 22 to 23 April, ASDAN Business Simulation Chongqing Regional Simulation organised by ASDAN China was successfully held at Lucton School Chongqing.
ASDAN Business Simulation is based on a professional IT system, which simulates the real market environment and decision-making process of company operations, and includes four major sessions: operation, roadshow, business battle and auction. The companies with the highest net property will be the winner. The competition is designed to improve students' six core skills which are teamwork skills, problem-solving skills, knowledge application abilities, market analysis capabilities, public speaking skills and communication skills.
Persistent Work of Business Simulation Beginners
At the start of preparation, two teams were formed by students at Lucton School Chongqing with one student team leader each. Ms. Davidson, Business Studies and Economics teacher at Lucton School Chongqing, was the overall team leader and provided training and explanation of the rules. Although some of the students were new to the competition, they were well prepared. Meanwhile, students from Lucton School Shanghai arrived in Chongqing to join the competition.
Competition Among Future Business Leaders
During the competition, vigorous students were dressed in smart suits and ties. With a sense of honour and mission, each future entrepreneur was fully prepared to compete in the business “battlefield”. There were 13 teams/ companies in the regional simulation, with nearly 100 students from different schools.
Ms. Zhen, the Chairman of ASDAN Business Simulation announced the official opening of ASDAN Business Simulation 2023 – Regional Simulation at Lucton School Chongqing, and introduced the procedures and rules. Ms. Pan, Executive Governor of Lucton School Chongqing, expressed her sincere expectations to all participants and wished them excellent results.
In this Business Simulation, the target product of all companies was the tablet. Participants were required to simulate a real market environment, discuss and develop a company's operating plan, and calculate the company's production and operating costs. At the same time, they pay attention to the competitors’ actions and market trends to adjust production and cost investment strategies. After five rounds of operations, a number of companies achieved increased asset value!
13 companies created exquisite posters and pitch deck slides to present their ideas to attract investors for a chance to receive additional start-up capital to grow their business.
The auction session was a comprehensive test of the students' logical thinking and flexibility, and showed us a real business auction. Through the auction, companies obtained resources, such as machines and materials. At the end of the auction, some companies were on the verge of bankruptcy after spending a lot of money, while others made a lot of money by taking advantage of opportunities.
Students at Lucton School Chongqing set up and operated companies with strong team spirit. They allocated jobs of company members reasonably by deciding their responsibilities including poster design, pitch deck planning, business battle planning, etc. Therefore, they succeeded in attracting investors in limited time with posters and presentation which showed their business logic.
Excellence of the Up-and-Coming Generation
Congratulations to the team led by George C, and his team members Avyanna J, Daniel D, Estelle H and Thomas L. They overcame challenges and won Business Battle Winners and Top Auction Teams. Besides, they were also awarded the ASDAN Enterprise Award.
In this ASDAN Business Simulation, students at Lucton School Chongqing tasted the joy of success and the sadness of loss, but it is more important that they can improve with the earned experience. We look forward to seeing the students shine in future events! Last but not least, many thanks to the teachers and volunteers, Oscar Z, Evan L, Iris H, Nancy G and Diana F, who worked hard during the competition.
