The Hong Kong University of Science & Technology was crowned winner for the first time in the Citi International Case Competition ("CICC") with a creative and innovative market growth strategy for a leading telecommunications company. The local students defeated 17 other outstanding teams from top business schools around the world to take the highest honor in the prestigious annual contest, bringing the championship back home to Hong Kong where it is hosted.
The CICC also celebrates its tenth year running as Asia's first and leading case competition bringing around 100 international business students annually to Hong Kong. Sponsored and organized by Citi and co-organized with the Hong Kong University of Science and Technology's School of Business and Management (HKUST Business School), this year's competition challenged students to present viable solutions in just 26 hours to the strategic issues and managerial dilemmas faced by City Telecom (HK) Limited ("CTI"). CTI provided the students with a complex case which highlighted the challenges and opportunities in the next generation of TV broadcasting.
Shengman Zhang, Citi Country Officer for Hong Kong, said, "The ten-year milestone of the program is truly a testament to the growing recognition from the international academic and business communities on the value of nurturing future business talent through this cultural and academic exchange platform. As Citi celebrates its 200th anniversary this year, we continue to demonstrate our commitment to responsible finance through the support of such initiatives to help develop responsible leaders of the future."
Professor Leonard Cheng, Dean of HKUST Business School, said, "We at the HKUST Business School believe in connecting classroom learning with real life experience. This annual event provides students with a valuable opportunity to develop their business skills and gain international exposure. In this tenth anniversary of the competition, we are excited that the diversity of participants continues to expand and this year we attracted new teams from Australia and Egypt. We would like to express our sincere thanks to our long-time partner Citi and this year's case company City Telecom for their support to this meaningful event."
Professor Emily Nason, Director of Undergraduate Program, HKUST Business School and team advisor to the HKUST team, said, "The HKUST team has devoted much time practicing and learning from feedback prior to the competition and has developed great teamwork spirit. Their analysis of the case showed a solid understanding of the core issues with an ability to deliver innovative recommendations with confidence and conviction. I'm very proud of the team and like to congratulate them and also thank all the faculty members who have contributed to the team's training."
Held in Hong Kong from October 29-November 1, the tenth annual CICC attracted 18 teams from 12 countries, including Australia, Canada, China, Egypt, Finland, Hong Kong, Japan, Korea, The Netherlands, Singapore, Thailand and the U.S.A.
The first and second runners-up are Maastricht University from The Netherlands and Western University from Canada respectively.
Participating Teams for 2012
Asia-Pacific
1. Korea University, Korea
2. National University of Singapore, Singapore
3. Queensland University of Technology, Australia [New]
4. Ritsumeikan Asia Pacific University, Japan
5. Singapore Management University, Singapore
6. Thammasat University, Thailand
7. The Hong Kong University of Science and Technology, Hong Kong
8. Tsinghua University, China
Europe & the Middle East
9. Aalto University, Finland
10. Maastricht University, The Netherlands
11. The American University in Cairo, Egypt [New]
North America
12. Concordia University, Canada
13. The Ohio State University, USA
14. The University of British Columbia, Canada
15. University of California, Berkeley, USA
16. University of South Carolina, USA
17. University of Southern California, USA
18. Western University, Canada
About the Organizers and Sponsor
Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog: http://new.citi.com | Facebook: http://www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About HKUST Business School
Founded in 1991, the HKUST Business School is recognized as one of the youngest and most respected business schools in Asia. The School has forged an international reputation for offering world class education programs and research performance, and has received many top global rankings. The School strives to contribute to the economic and social advancement of the region by developing future leaders who possess an entrepreneurial spirit and a strong sense of responsibility, and promoting knowledge advancement in many significant business areas. For more information, please visit www.bm.ust.hk.
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