On November 22, the 4th International Energy and Electricity Market Business Decision Simulation Competition had its final held through the Cloud. The competition, organized by Shanghai University of Electric Power, was organized by School of Economics and Management and International Exchange and Cooperation Office, with Shanghai Chenzi Culture Investment Development Co., Ltd. and Finnish CESIM OYs the co-organizers. The business simulation part was carried out on the international energy and electricity market business decision simulation platform of Finnish CESIM OY. Against the background of win-win cooperation of the “Belt and Road Initiative”, the business simulation allowed participants to conduct international business operation in a risk-free and highly realistic environment.
Five teams from five schools emerged from the several rounds of intense competition into the final, namely the Golden Wave Team from Northeast Electric Power University, Garuda Team from University of Karawang, Indonesia, Inter-Gals Team from Suranaree University of Technology, Thailand, A-team from Shanghai University of Electric Power, and TSIA Team from Panyapiwat Institute of Management, Thailand.
The participating students came from China, Thailand, Indonesia, Somalia, Cambodia, the Philippines, Myanmar and Bangladesh. The five judges were: Wu Wen, Gao Yafang and Max from Shanghai Fenyi Information Technology Firm, branch of CESIM OY (China), Shao Luning from the School of Economics & Management, Tongji University, and Sun Jingran from the Business School, University of International Business and Economics.
The final mainly involved video display of results and presentation of team projects in the form of Cloud defense, in which the judges assessed each team’s performance by team presentation and business decisions. In the competition, our A-team, by exerting strengths and struggle, achieved excellent results. In light of the features of rapid change of the energy and electricity market, based on the industrial reality, our team applied expertise, studied industry data collected for further polishing and optimization. As regards pricing, A-team, with an insight into the market condition, adopted two strategies, low pricing and high pricing, according to the price sensitivity of customers. Based on data analysis and actual research, they highlighted the world’s increasingly serious environmental concerns. The team ran the concept of green and sustainable development through the project, calling for concerted efforts to promote the revolution of the electricity production industry as well as green and sustainable development. Their solidarity and cooperation, rigorous and prudent presentation, courage to make changes, and spirit of forging ahead won them unanimous praise.
International participating teams fully demonstrated their strengths. As company managers, they made accurate decisions according to market environment changes, environmental protection constraints, and business strategies, maximizing the benefits of the company. Their innovative ideas and unique perspectives in business decision-making and high industry acumen are worth our learning.
The participating teams offered presentation of their business simulation experience and team projects on the Cloud. According to the scores given by the competition judges, Garuda Team won the first prize; Inter-Gals, A-team and Golden Wave won the second prize; and the other 6 teams, namely Team SUEP BD, Blank, Kwai Lily, M.T.A, Power and Lucky won the third prize.
This is not only a competition about business decision simulation, but a competition for mutual learning among energy and electric civilizations. This competition has demonstrated good demeanor, unique thoughts and innovative thinking of contemporary college students against the historical background of economic globalization. This competition has expanded and enhanced the influence of our school, promoted theorical clash and friendly exchanges among students from all over the world. It offered a vivid interpretation of the important principles of “valuing one’s own culture and those of others for universal peace” contained in the Belt and Road Initiative.
The simulation competition, driven by “B&R Regional Association of Energy and Power Universities (RAEP)” and “B&R Cooperation of Energy Industries and Universities (CEIU)”, two organizations initiated by Shanghai University of Electric Power in October, 2018, is a new mode of explorative international production-study-research cooperation among domestic and foreign universities and enterprises in the field of energy and power. The fourth competition in 2022 started from intramural tryouts. The international competition, lasting over 6 months, and attended by nearly 400 students from 5 universities in 8 countries, furthering enhancing the international clout of our school.
The International Exchange and Cooperation Office and the School of Economics and Management contributed to this report.