From May 27th to June 2nd, the highly anticipated Cesim Elite International Final 2024 unfolded, bringing together 16 teams from around the globe. These teams, chosen from a pool of over 9,000 students who competed in regional competitions, showcased their strategic skills during the last stage of our competition.
The journey to the Cesim Elite International Final was both challenging and exciting, with regional competitions held in China, Europe, India, Latin America, and Vietnam.
To ensure a fair competition, the teams were split randomly into 2 groups using generative AI, each group represented by a landmark from the northern part of our home country, Finland.
Spanning 7 days and involving over 400 cumulative hours of intense competition, the event included 6 simulations rounds and 1 challenging case task combining business strategy and sustainability. Notably, some teams dedicated an impressive 50 hours on the platform, showcasing their commitment to excel in the competition!
Congratulations to the winners of the Cesim Elite International Final 2024!
The competition reached its peak with outstanding performances in the simulation and the case presentations, resulting with the recognition of three top teams:
🥇 1st Place: Team ESSEC LMBA, ESSEC Business School (🇫🇷)
Over the rounds in the simulation, team ESSEC LMBA demonstrated a strategic focus on growth and financial stability, adapting effectively to market conditions. Initially, they diversified income streams across various vehicle categories and services like maintenance and spare parts, managing to consistently improve their gross margins, especially in new vehicles and workshops. Financially, they maintained strong cash flow and a healthy balance sheet, reflected in their increasing net profit and robust return on equity (ROE). Their strategy included adapting pricing, inventory management, and promotional activities to meet market demands and competitive pressures. By the final rounds, ESSEC LMBA focused on optimizing operational efficiencies and expanding service capacities to enhance market share and customer satisfaction, sustaining profitability.
🥈 2nd Place: Team Commercial Giant, Shanghai University of International Business and Economics (🇨🇳)
Throughout the rounds of the simulation, the team Commercial giant adeptly managed their automotive dealership operations. Initially focusing on boosting vehicle sales through substantial investments in advertising and personnel, they strategically shifted towards enhancing after-sales services like maintenance and spare parts as the simulation progressed. This pivot is reflected in increased sales and improved gross margins in these categories. Commercial Giant adeptly adjusted their pricing strategies and inventory management, optimizing turnover rates and profitability. Their financial management was evident in consistently rising net profits and a robust return on equity, showcasing efficient use of shareholder equity. By adapting to market conditions and focusing on high-margin services, they maintained operational efficiency and demonstrated a comprehensive approach to dealership management.
🥉 3rd Place: Team Everything is OK, Zhejiang University of Technology (🇨🇳)
The team Everything is OK adeptly managed their dealership in the simulation, showing strategic agility over the rounds. Initially focusing on boosting sales across various departments, they invested wisely in advertising and personnel development, which helped increase market shares and sales efficiency. Throughout the rounds, they adapted to market shifts by enhancing their offerings in used vehicles and maintenance services, effectively managing their financials to grow net profits consistently. Their strategic adjustments in response to market conditions were evident in their improved inventory turnover and optimized cash flows. Human resource management was also a key focus, maintaining high competence indices and adjusting workforce levels to meet operational demands. By the end of the simulation, "Everything is ok" had significantly increased their cumulative earnings, showcasing their ability to navigate and thrive in a dynamic market environment.
Congratulations also to the other teams! The Cesim Elite International Final also saw impressive performances from other teams, including:
4th Place: Team ADMEX, Universidad Nacional de la Plata (🇦🇷)
5th Place: Team HE, UEH University (🇻🇳)
6th Place: Team PUC BR Campinas ECO, PUC Campinas (🇧🇷)
Evaluation and ranking of the teams
The competition's scoring system is meticulously designed, with 50% based on simulation performance (cumulative earnings) and 50% on the case study score, which is evaluated by a jury over 3 criteria (1. Organization, presentation and overall quality of the video, 2. Analysis, subject knowledge, and creativity, 3. Teamwork and use of time). Both parts were of equal weight to determine the final ranking of the teams.
The simulation
This year's simulation, Cesim Dealership, challenged participants in dealership operations, including new and pre-owned products, and after-sales services. The goal was to position their dealership as a leader in their market and have the highest cumulative earnings in their universe.
Evolution of the Cumulative earnings of the teams in universe "Halti":
Evolution of the Cumulative earnings of the teams in universe "Saana":
The case task
The case task required participants to develop a strategy that effectively communicated the benefits of their initiatives, justified the associated costs, and optimized operations. The goal was to position their dealership group as a leader in the eco-friendly space and contribute to the automotive industry's sustainability goals.
A special thank you goes to our esteemed jury members who meticulously evaluated the presentations and provided invaluable feedback: Ms. Sisley Benson, Mr. Graeme Kirkup, and Mr. Veijo Kyösti. Their expertise was crucial to the success of this competition. The jury members did not have access to the simulation results during the competition.
Best Case Task Presentations:
Team ESSEC LMBA, ESSEC Business School (🇫🇷)
The champions from ESSEC Business School impressed the judges. Their winning presentation can be viewed here:
Team Commercial Giant, Shanghai University of International Business and Economics (🇨🇳)
Securing the second spot, Team Commercial Giant from Shanghai University of International Business and Economics delivered a compelling case study. Watch their stellar presentation here:
Team ADMEX, Universidad Nacional de la Plata (🇦🇷)
Team ADMEX from Universidad Nacional de la Plata rounded out the top three case presentations with their strategic insights and thorough analysis. Their presentation can be viewed here:
Cesim Elite Instructor Workshop
Cesim Elite is not just a business simulation competition; it’s also an opportunity for professors worldwide to explore new teaching methods through business simulations and share their experiences.
We extend our heartfelt thanks to Professor Kevin McIntire from the Metropolia University of Applied Sciences, Finland, for his engaging presentation on Friday, May 31st, during our workshop "Welcoming Simulations and Generative AI to the Classroom". His insights on leveraging the Cesim platform to enhance educational experiences were inspiring and greatly appreciated by the by attendees from all over the world.
As the curtains close on the Cesim Elite International Final 2024, we extend our congratulations to all participants and winners. Their dedication, hard work, and innovative thinking are a testament to the bright future of the business world.
Cesim Elite 2024 WRAP UP Video
We eagerly look forward to next year's competition, where new talents will rise and further push the boundaries of business strategy and sustainability. The next edition of the competition will open in autumn, inviting new participants to join this exciting journey.