HSU Business Challenge 2023 officially kicks off with many unique products, catching the trend of young people
With 114 applications from students and unique products such as cheese coin cakes, HSU Business Challenge (HBC) season 2 has packed the G Hall of Nguyen Van Trang’s campus at its premiere.
HSU Business Challenge is a professional competition in the field of business and management organized by students of the HSU Faculty of Economics and Business, and is also a subject project of the Business Administration major. On the afternoon of November 29, the competition officially launched season 2 with 114 contestants divided into 15 groups of contestants.
Launched on the market on Kick-off day
At the competition, groups of contestants need to research the market, develop a plan and implement a real-life business project for any product or service. At the kick-off ceremony, products were held in the form of booths to “launch the market” and “reach potential customers”. The goal of the warm-up round is for contestants to demonstrate product promotion strategies, stimulate buying behavior.
This is also a stepping stone to start business projects of 15 groups (including 7 self-produced groups and 8 commercial business groups). The strength of this year’s competition is enhancing control over product output. Products launched on the market must have clearly proven documents of origin and documents from the Department of Health or food safety.
Some products “launched” by contestant groups include: Perfume, fabric bags, water bottles, fast food, candies, etc. In particular, grasping the market trend, the extremely “trendy” cheese coin cake with young people was put into business by the contestants.
Methodical business strategies
As a contest advisor, Dr. Phan Vo Minh Thang – Dean, HSU Faculty of Economics – Business shared: “The contest is a place for students to absorb and put into practice the knowledge they have learned in class. Students mobilize their own capital, plan, business strategy and sell their own products. When they graduate, they will be confident to be students studying Business Administration of Hoa Sen University, confident with their business projects or start-ups.”
This year, the HSU Business Challenge competition includes 3 rounds, lasting from the end of September to the end of December 2023.
Round 1 – Business idea: In round 1, groups of contestants implement business ideas, build a specific plan to determine market demand, find out the strengths and opportunities of the product, determine expected revenue and costs.
Round 2 – Business results: Projects will mobilize capital and present business results on: Market, production/trade, marketing, human resources, accounting/finance, risk .
Round 3 – Final: In the Final Round, with the support of the Evaluation Board who are administrators, Representatives of businesses in the fields of business – management – marketing – production – operation, 5 lucky groups of contestants will present details from the idea – planning – results – business orientation of the project.
This is also an important contest for students to interact with experts, directly “pitching” as if working with business partners. From there, helping students have valuable experiences not only in strategic planning but also in directly working, selling with partners, and convincing investors while they are still students. The total prize is up to more than 50,000,000 VND including cash and extremely attractive gifts.
With the criteria of Real Learning Real Doing and Entrepreneurial Spirit in training, Hoa Sen University always creates conditions for students to implement their own projects, master themselves and take control of their projects and competitions. From there, helping students really do what they have learned, ready to enter into the recruitment market even before graduation.
