Four undergraduates from Singapore have triumphed at a business competition held recently in Poland that featured contestants from around the globe.
The CIMA Global Business Challenge 2015, held in Warsaw and designed for undergraduates, was organised by the Chartered Institute of Management Accountants (CIMA), in partnership with Barclays. The competition, in its seventh year, is intended to identify the best business leaders of tomorrow.
The Singapore team, known as Tueur Consulting, comprised four undergraduates from Singapore Management University: Mr Samuel Tan, 23, Mr Tan Jhun Boon, 24, Mr Chris Feng, 23, and Mr Han Meng Siew, 23.
Tueur went up against 25 other teams from countries such as Australia, Russia and South Africa, and emerged champions in the global finals, winning a trophy and various merchandise.
The team from India came in second and the team from the Philippines took the third prize.
Prior to the finals in Warsaw, Tueur Consulting competed with 32 teams from various universities and polytechnics in Singapore for the privilege of representing the nation in the competition.
At the global finals earlier this month, all 26 teams were divided into three groups, with two from each group advancing to the final round. The teams had to present business cases that were assessed by a panel of experts.
According to Tueur's team captain Samuel Tan, some of the competitors in their group, such as China, Thailand and the Philippines, had excellent slides and presentations so the team was "definitely surprised" when they got into the final round.
The team members had worked together previously, which helped them to better allocate duties and ensure that every member was able to draw on one another's strengths.
For example, Mr Tan was in charge of financials - which required him to prepare a forecast for the balance sheet and cash flow statement, among other things.
In the final round, the team was presented with an additional business problem about the plunge in oil prices, and members were given three hours to come up with a 15-minute presentation.
Mr Han, another team member, said that given the time constraints, "making the right decisions was of paramount importance".
He believes that each member's experience with case competitions, as well as the camaraderie that the team possessed, contributed tremendously to their victory.
Mr Feng said: "We truly believed in our analysis, along with our recommendations, and managed to put forth a convincing story that seized us the championship for Singapore for the first time ever."
Mr Andrew Miskin, vice-president of CIMA, and Mr Deepesh Lad, chief operating officer of Barclays Finance, were among the judges at the competition.