Frank Ren, G10, RDF International School

On August 1, 2021, my classmates and I finished our participation in the three-day International Business Simulation Competition (FIBC).

Simply defined, this business competition is a type of competition that replicates a corporation making operational decisions in the market, and we experienced tough rivalry.

For this business competition we came up with four points of focus: innovation of exhibitions and sales; control of the consumer market; ability to work in a team; and external communication and negotiation.

We were traders in the competition. What we needed to do was to sell the products and make a profit. During the competition, our marketing methods and control of the consumer market were tested. For example, during the exhibition, we combined rap with our product introduction, which brought good profit for us.

The consumer market is changing. We must pay close attention to the needs of the consumers to create the products they need. In the fourth year of the competition, the market for food and clothing was in a saturated state. At this time, our company launched a new product, the balance car, which generated very good benefits.

The competition also tested our ability to work as a team. Everyone had to have their own responsibilities. For example, I was responsible for the exhibition and sales of our products, so I first had to understand all the information about the products, and consider how to sell them to consumers.

In fact, we had already made preparations a week before. As traders, we needed to find manufacturers and communicate with them, which was a great challenge for our negotiation and communication skills. It is better to find a manufacturer with the potential of long-term cooperation, which can save a lot of time. We had to analyze the existing market to explore favorable products and available manufacturers.

We did not need to rush to go public in business competition. The most important thing in the competition was to make good products and sell them to customers.