Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.
Co-operation is name of the game
The Hong Kong Management Game aims to teach general management skills to teams who interact in a realistic business environment.
The event is organised by the Hong Kong Management Association (HKMA) and the game's designer, Russell Morris, says his main goal is 'to make teams interact with each other in a realistic environment, make the game fair to all participants and to give a positive experience of modern management'.
Participants will be assigned to lead different companies and execute business plans during the game in order to record the best results under different simulated circumstances.
'When I saw the 'games' offered by various suppliers, I found them to be competitor versus computer rather than competitor versus competitor which is what business is about,' Morris says. 'Experienced players [will be able to] work out many algorithms used and thus have an advantage.'
According to Morris, due to the large number of flexible parameters, almost any type of company can be simulated. It can be used to train and simulate top management and has been used in a secondary school.
The game trains participants to extract relevant information, and enhance their knowledge in areas such as strategic thinking and planning. 'I recommend participants think,' Morris says. 'Think about the products, their needs, about a strategy and about what their competitors are doing.'
The game doesn't only focus on enhancing individual management skills and performance, it aims to help participants understand the importance of co-operation.
The game requires participants manage the production lines, marketing, and finance and budgeting of their company. Participants are trained not only to co-operate, but also to communicate effectively and build trust among each other.