Nanyang Technological University from Singapore has been crowned champion in the Citi - HKUST International Case Competition (“CICC”) 2015, defeating 17 other outstanding teams from top business schools around the world to take the highest honor in the prestigious annual contest. The winning team devised a visionary strategy for the Asia expansion plan for Techtronic Industries Co. Ltd. (“TTI”), a global leader in cordless power tools.
The CICC reached a new milestone running as Asia’s first and leading international case competition bringing around 100 undergraduate business students annually to Hong Kong. Sponsored 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 22 hours to address the strategic issues faced by the case company, TTI. TTI provided the students with a challenging case to explore a strategic Asia expansion plan.
Weber Lo, Citi Country Officer and CEO, Hong Kong & Macau, said, “I am pleased to see the top quality delivery from each participating team, and the great collaborative and competitive spirit between the students. With this achievement, I believe that everyone is a winner. At Citi, providing financial services responsibly to enable growth and economic progress is our number one mission. Citi will continue to demonstrate our commitment to responsible finance through the support of such programs to help develop responsible leaders of the future.”
"The determination to excel under pressure, the ability to solve real-life business issues and work well in a multi-cultural environment are all desirable learning outcomes of business education. I expect these are the skills all CICC participant teams have gotten during this competition,” said Professor Jitendra V Singh, Dean of the HKUST Business School and Michael Jebsen Professor of Business. “We are thankful to the longstanding support from Citi for providing this excellent learning platform to not only students, but also business schools around the world to nurture our next generation of business talent.”
Frank Chan, Group Executive Director & Chief Financial Officer, TTI, one of the final round judges for the competition, remarked, “It was a unique privilege for TTI to be the case company for this prestigious competition. We've been overwhelmed by the talent, caliber and passion of the students and their presentations. They were not only creative, but they also displayed their keen and unique understanding of our business when it came to presenting their analysis and proposals. I would like to especially congratulate the finalists for demonstrating in such a compressed time their strong problem-solving skills and ideas that are relevant to our company and industry.”
Held in Hong Kong between October 25 and 30, the thirteenth annual CICC attracted 18 teams from 10 countries and markets, including Australia, Canada, China, Hong Kong, Japan, Korea, Norway, Singapore, Thailand and the U.S.A. The judging panel of the competition comprises of senior executives from the TTI, Citi Hong Kong, global management consulting firm, conglomerate and the media.
The first and second runners-up are Queen's University and Korea University respectively.
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Participating Teams for 2015
Asia Pacific:
AustraliaQueensland University of Technology
China Shantou University
China Tsinghua University
Hong Kong SAR Hong Kong University of Science and Technology
Japan Ritsumeikan Asia Pacific University
Korea Korea University
Singapore Nanyang Technological University
Singapore National University of Singapore
Thailand Chulalongkorn University
Thailand Thammasat University
North America:
Canada Queen's University
Canada University of British Columbia
USA Indiana University
USA University of California, Berkeley
USA University of Pennsylvania
USA University of South Carolina
USA University of Southern California
Europe:
Norway NHH Norwegian School of Economics
About Citi, CICC Co-organizer and Sponsor
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: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
About HKUST Business School, CICC Co-organizer
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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