Joaquín Arroyo Beytia, a student at the Faculty of Accounting and Administration of the Autonomous University of Yucatán (UADY), was the winner, along with three of his teammates, in the Western Canada Business Competition.
The group, Akwasi Boateng, Haiden Edwards, Mohammed Amaan Khan, and the Mexican student, who is on an academic exchange at North Island College (NIC), competed against seven other groups in the senior division simulation competition, finishing in second place with his company Envision Corp.
Through a business strategy simulation, the teams tested their ability to run a fictitious commercial action camera and drone business.
Challenges included creating and presenting a strategic plan and participating in eight decision rounds covering all aspects of the business, including marketing and sales, operations, human resources, administration, and finance.
The competition ran for 72 hours with tight deadlines for reporting and analysis for each resolution.
“These students surprised themselves at how well they performed, as they were very nervous and apprehensive at first. They were able to quickly overcome this and plan and execute their high financial leverage strategy with a focus on productivity. It was a close battle for first place with a Douglas College team narrowly edging them out,” said NIC instructor Murray Erickson.
This competition provides the opportunity for NIC students to network with other business students and faculty from colleges and universities across Western Canada, as well as practice the skills and knowledge they have learned in the classroom in a simulated business environment just like the real world. “The team started early each day and worked late into the morning making annual decisions. A great experience as close as possible to real life for these students,” Erickson highlighted.
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