This year’s edition of the annual Qualification Programme (QP) Case Analysis Competition took place on November 27, with 330 teams vying for the prize which would require them to combine creativity, business acumen and analytical prowess to put forward viable and creative business plans.
Organised by the Hong Kong Institute of Certified Public Accountants (HKICPA), the contest provides local university students with a simulated competitive business setting in which they have to apply skills and knowledge learned in the classroom to a complex commercial environment. Participants then develop business solutions to help a hypothetical corporation tackle challenges arising from a specific QP case question, which this year related to the dairy products industry.
In addition to honing students’ logical thinking skills and analytical capabilities, the competition also aims to enhance their ability to address ethical issues.
In the initial rounds, teams had to conduct thorough market research and analysis to develop corporate strategies for business expansion, and submit an executive summary with detailed financial analysis of the case question. The finalists gave oral presentations based on their analyses and recommendations, and answered questions from the judges.
The champion prize was won by Team 76, consisting of students of the integrated business administration and accountancy programmes at the Chinese University of Hong Kong (CUHK). First runner-up was Team 172 from the University of Hong Kong (HKU), while Team 65 – also from HKU – clinched the second runner-up prize, the Best Written Report Award and the Best Presenter Award for its team leader.
All three winning teams received trophies, cash prizes and QP fee waivers, as well as internship opportunities at several well-known companies.
The competition judges pointed out that it was tough deciding on the winning team, with Ivy Cheung, 2016 president of the HKICPA, explaining that all eight finalist teams put a lot of time and effort into their solutions.
“But the winners performed equally well in all parts of the contest, including the written report, presentation and the Q&A section. They handled the presentation with good time management skills; the structure and flow were well executed and key messages amply highlighted. They also placed an emphasis on the ethical issues related to the business.”
Cheung added that the finalists came up with innovative ideas, but needed to pay extra care to balancing creativity with practicality. “Some students were unable to address the judges’ concerns about the viability of their solutions. They need to conduct more in-depth research and identify more potential risks.”
Cheung’s fellow judges added their own advice for teams to consider in future. Peter Poon, Hong Kong director of grocery retail at Nestle, said that students should consider a more pragmatic approach backed up by more facts and solid numbers.
“They might also think about using the ‘less is more’ approach,” he said. “Because the world is becoming increasingly complex, with information overload from things such as big data, students could focus on fewer but more effective tools. Their plans should focus on the core business.”
Arthur Shek, engagement manager at McKinsey, suggested that teams incorporate their food-safety solutions into a holistic business plan and communicate them to the target end-users. “More thought could be given to leveraging digital technology. They need to carefully consider the impact of digital technology and integrate it into their overall business strategies.”
Mabel Chan, 2016 vice-president of the HKICPA, said that although all the teams conducted thorough research and business analyses, they needed to state more clearly the assumptions and basis of calculation used for their sales projections.
“This would help make their plans even more convincing for the judges. The competition has for many years put strong emphasis on the ethical issues in the corporate world. Judges would like to hear more about contestants’ strategies to resolve the related issues.”
CHAMPION TEAM MAKES AN ETHICAL CASE
Members of the winning team from the Chinese University of Hong Kong believe that putting ethical issues to the fore of their business solutions impressed judges at the QP Case Analysis Competition 2016.
Yee Sye-ying said the team began its presentation by addressing ethical issues related to the dairy product business, while also linking them to the team’s corporate social responsibility strategies. This approach, she believes, helped distinguish them from others.
But for her, the highlight was the team’s performance in the Q&A session. “For me, this was the most satisfying part of the contest. I think we were able to fully answer the judges’ queries.”
Yee is a second-year accountancy student together with teammates Chen Tzu-ying and Zhou Qiuyuan. Pascal Kedves, the team’s leader, studies integrated business administration and is in his third year.
Kedves echoed Yee’s enthusiasm towards the Q&A performance. “We were able to provide additional information supplementing each other’s answers because all team members had worked on the presentation together, so we all knew each other’s parts very well.”
Chen believes the team’s innovative idea of expanding the business into the Malaysia market also made a strong impression on the judges. “We supported our solutions with solid facts and figures, which made our business expansion proposal more persuasive.”
Zhou added that in-depth business analysis and solid research formed the basis of the team’s future business projection, while excellent teamwork also played a part in the victory. “Despite a heavy workload with our university programmes and revision for exams, our team made a concerted effort in preparing for the contest.”
Each team member has a different cultural background and Kedves explained that the diverse perspectives they were subsequently able to bring played a crucial role in their teamwork. “We met frequently and each time worked on the solutions till late. We enjoyed the camaraderie a lot.”
For Yee, the way their presentation moved smoothly through their ideas was also important. “The presentation will be more convincing when it is supported with a well-structured and logical flow of ideas.”
HKU marketing student Au-yeung Yau-man from the second runner-up team received the award for Best Presenter. He said his winning strategy was to avoid reciting his parts of the presentation script word for word so that he could concentrate on other important oratorical aspects.
“When a presenter recites memorised information, they tend not to make eye contact with the judges and sometimes neglect the intonation and stresses that make the presentation more interesting,” he said. “I memorised only the key points and then improvised on the transitions from one idea to the next. This helps enhance the spontaneity of the presentation.”
