A team of Public Accounting students from Montemorelos University (FinancialUM2) won the final of the International Business Simulation Challenge of the Spain-based company CompanyGame, on May 7, 2024.
After overcoming strategic challenges and demonstrating excellence in business management, the FinancialUM2 team excelled among their international peers, carrying the name of the Adventist school in Montemorelos, Nuevo León, Mexico, to the top of the contest.
According to event organizers, the contest, which since its beginnings has attracted more than 18,000 students from 30 countries, has become a global platform for the development of practical and strategic skills in business. This is thanks to the company’s simulators, which offer a safe environment for the preparation of future business leaders, company leaders said.
The FinancialUM2 team consists of Daniel Sáez, Herbert Escobar, and Benjamín Acosa, students in the sixth semester of public accounting. Pedro González, graduate studies coordinator of the School of Business and Legal Sciences, led the team and tutored them throughout their journey.
For the FinancialUM2 team, the competition was intense from the start. Working with the InnovaTech simulator and facing teams from all over the world, they managed to accumulate the 1,200 points they needed to advance to the next stage.
After passing the qualifying phase, in which more than 2,500 students from 175 universities participated, they went on to participate in the Finance category in which they faced the challenging task of managing the fictional company Corbatul. They faced complex financial challenges and made crucial strategic decisions to improve their performance.
The final of the challenge presented an even greater challenge with the Global Management simulator, in which the teams had to manage a leather goods manufacturing company, addressing not only financial issues, but also aspects of internationalization, operations, and environmental and social concerns, demonstrating their ability to make difficult decisions which included a vision and principles of business ethics.
In this context, the FinancialUM2 team demonstrated its ability to face multidisciplinary challenges and find innovative solutions, event organizers said.
Reflecting on their experiences in the competition, members of the FinancialUM2 team shared the challenges they faced and how they stayed true to their principles throughout the process.
Escobar highlighted the importance of addressing the environmental impact of business operations and mentioned that they took measures to reduce carbon dioxide emissions, while Bernal and Sáez, on the other hand, highlighted how difficult it was to make those decisions without affecting the company's stability and operability. Nevertheless, they emphasized that all decisions were aligned with principles of solidarity and improvement in the quality of life of the company employees, ultimately inspired by biblical values.
“These simulators allow participants to put into practice their knowledge and skills related to the business world, from decision-making to problem-solving, in a risk-free environment that simulates real-world situations,” said Víctor Marín, director of the Spanish company and one of the managers, during the award ceremony. “With different levels of complexity, these simulators offer an adaptable learning experience that accompanies students in their academic training.”
In addition to the accompanying prestige and recognition, the team received an 85 percent scholarship for any graduate degree in business from GBSB Global Business School, among other awards from Amazon Web Services and the company Hockerty, the sponsors of the contest.
During the award ceremony, González thanked CompanyGame for providing an invaluable learning platform for students and congratulated the FinancialUM2 team on their hard work and dedication.
This triumph is not only a testament to the talent and dedication of U-M students but also a reflection of the university’s commitment to academic excellence and the preparation of future business leaders, school leaders said. “This year CompanyGame has opened up business simulation challenges for faculty for the first time, and we hope that the Montemorelos University academic community will continue to actively participate in this business simulation challenge, looking for new opportunities to improve teaching practice and prepare students for real-world challenges.”
The original article was published on the Inter-American Division website.
