Winning side was consistent
Commenting on The Hong Kong Management Game 2010, the game's designer Russell Morris says he is satisfied with the level of competition this year.
'We didn't know who was going to win until we had the results of the final trading period,' says Morris, who is the system designer at Universal Business Management Simulation.
'There were two or three teams that pulled ahead early on in the simulation for the final round, but it wasn't until the last trading period that the winning team really distinguished themselves.'
Morris says the winners made the biggest profit and showed consistency in their business strategy. 'What separated them was that they were consistent in their decision-making. They did take losses at the start of the game, but planned their strategy and stuck to it,' he says, adding that some teams failed to tailor their marketing mix to customers, or react properly when consumers didn't show interest.
Some responded too quickly to the market by drastically lowering prices when consumers failed to show interest, and then raised them too fast when the market moved in to snap up discounted goods. Morris says the winning team was able to strike the right balance in their marketing mix. 'They had sufficient marketing to create demand for their product; they were producing sufficient quantities of products to be able to meet demand; and they were selling it at a price the market can accept while still being profitable.'
The Hong Kong Management Game 2010 was sponsored by Cathay Pacific Airways, FANCL, John Swire and Sons (HK), MaBelle Jewellery, and the Maxim's Group. Official media partners were the South China Morning Post, Classified Post and Jiu Jik.