For Pep Lead (left) and Hanry (right), participating in the competition was an eye-opening experience to what awaits them when they step out into the working world.
Two TAR UC students excelled in the 4th Annual CIMA-EBLM Malaysian Experiential Business Challenge 2020, which was held on 19 December 2020. Lim Pep Lead and Khoo Hanry, who participated under the team name “TARUCISTHEBEST” emerged as 2nd Runner-ups during the finals.
“I joined this competition because the challenge format was interesting and we were able to pit ourselves against other universities as well. I also used this opportunity to put to practice what I have learned from my academic syllabus,” shared Pep Lead, a Bachelor of Accounting (Hons) student. “This competition is a new experience for me as the competition is conducted through an online business simulation platform and it involves multiple KPI’s in the Balanced Scorecard format.”
His previous experience includes participating in the Business Game 2018 and Business Cyclone in Malaysian Accounting Student Inter-Varsity Contest (‘MASIC’) 2019 organised by the TAR UC Accounting Society, where he emerged as 1st Runner-up.
“What I have learned in the classroom helped me a lot in this competition especially in financial and project management aspects,” he added. “There is definitely a difference when applying theories in real life even though this is a business simulation game. The theories and knowledge combined with the experience are the foundation that supported right decision-making in this competition”.
For Hanry, it was an eye opening experience as it was his first time joining a business simulation game. The Bachelor of Mechanical Engineering (Hons) student was invited by Pep Lead to join as he believed that his participation would be beneficial in certain areas of the competition.
“We had some disagreements with two other members who left the team during the qualifying round and we almost gave up. But in the end we managed to sort things out and give it our all during the final stage,” he shared. “Time constraint was definitely a challenge and we had to make good decisions fast! It was a good experience, one which is similar in a real-life setting.”
Organised by Experiential Business Learning Malaysia (‘EBLM’) and sponsored by the Chartered Institute of Management Accountants (‘CIMA’), the CIMA-EBLM Malaysian Experiential Business Challenge 2020 is a National Level Business Simulation competition and is supported by the Malaysia Productivity Corporation (‘MPC’) and the Malaysian Institute of Management (‘MIM’).
During the business challenge, participants had to take on roles in a management team of a $100 million company competing in the industry over 8 financial periods, with the company’s success being judged across multiple KPI’s in the Balance Scorecard format. Participants took on decision making roles in 6 major departments consisting of Research and Development, Marketing, Finance, Production, Total Quality Control and Human Resources in every round.