Grey power at ACCA
Business contest highlights needs of HK’s senior citizens
The ACCA Business Competition 2013 has not only helped develop participants' business acumen and deepened their accounting knowledge. It has also heightened public awareness of the urgent need to enhance the quality of life among Hong Kong's senior citizens.
"By developing simulated barrier-free social enterprises targeting the city's fast-growing elderly population, the participating students have polished their various essential skills and enhanced their social awareness," said Roy Tsang, chairman of the Association of Chartered Certified Accountants (ACCA) Hong Kong, which organised the competition.
"Grouped in teams, the students have developed the business proposals and sharpened their skills in proposal writing, analysis and communications and have deepened their accounting knowledge. They also learned about the importance of teamwork," he added.
Now in its seventh edition, the competition featured degree and sub-degree categories and was open to full-time accounting and business students from local institutions. The finals for the degree and sub-degree categories were held on November 16 and 30, respectively. For the first time, the finalist teams could choose to conduct their presentations in English, Cantonese or Putonghua.
The partner organisation for the contest - the HKCSS-HSBC Social Enterprise Business Centre (SEBC) - designed the case question around the development of an elderly-friendly "So-Biz", or social business, project with long-term benefits.
Before a panel of judges who took on the role as the vetting committee for SEBC, the finalist teams in both categories were given 18 minutes to present the unique features and financial details of their simulated projects based on a two-year funding plan of a total of HK$1 million. Each finalist team then answered questions from the judges.
This year's competition attracted 532 teams, comprised of about 2,000 degree and sub-degree students. Twenty business plans for each category were shortlisted, with the top five teams presenting their business ideas in front of judges.
All entrants were each awarded a certificate from ACCA Hong Kong, which could help to enrich their résumés. The top five finalist teams in both categories attended an interview skills workshop conducted by veteran coaches to polish their interviewing and presentation techniques.
SEBC was established by the Hong Kong Council for Social Service (HKCSS). The "So-Biz Project" is organised by HKCSS to promote local customer service guided by the ethos of "Shop Freely; Serve Friendly".
The competition was supported by Deloitte Touche Tohmatsu, EY, Hutchison Global Communications, KPMG, PwC, and the Hung Hing Ying & Leung Hau Ling Charitable Foundation.
Classified Post was the competition's exclusive official recruitment partner.
ACCA HONG KONG BUSINESS COMPETITION 2013 WINNERS
Teeth and therapy
Champion Team City University of Hong Kong (CityU)
Members: Cheng Tsz-kwan, Lee Hoi-ling Florence, Leung Kong-sang Gordon and Chan Yuk-leung Daniel
Proposal: Crescent Moon: Mobile dental clinic services for elderly
Other awards: Best Proposal, My Favourite Team and Best Presenter (Cheng Tsz-kwan)
First Runner-up The Chinese University of Hong Kong (CUHK)
Members: Cho Wai-Chun Francis, Wu Kar-we Karen, Hui Ho-sum Davy and Lau Hiu-wing Heidi
Proposal: Elderly as Hong Kong heritage tour guide
Other awards: Most Creative Team and Best Team Spirit
Second Runner-up Hong Kong Baptist University (HKBU)
Members: Qin Shiran, Tang Yangfan, Sun Yueyi Grace and Huang Luyi Lily
Proposal: PATH - Memoir book and video production
Other award: Best Budgeting
Merits Award The University of Hong Kong (HKU)
Members: Lui Ka-man Angela, Chui Lok-hay Ronnie and Yeung Chun-wai
Proposal: Asia tours for elderly customers
Merits Award CityU
Members: Sin Ho-wang, Wu Yen-hsiang Tandy, Phang Hui-ting and Lee Lin-wei
Proposal: Long Live Magazine - Publication for elderly readers
Champion Team Hong Kong College of Technology
Members: Leung Nga-lee, Au Ming-hoi, Chung Yik-nam and Cheung Tsz-chun
Proposal: Chinese herbal medicine spa therapy for elderly
Other awards: Best Team Spirit, My Favourite Team and Best Presenter (Leung Nga-lee)
First Runner-up Hong Kong Institute of Vocational Education (Tuen Mun)
Members: Chan On-ki, Chan Ching, Nam Tin-fung and Tang Lai-ling
Proposal: Elderly fitness centre
Second Runner-up The University of Hong Kong SPACE Community College
Members: Ng Yu-hin, Leung Kwan-kit, Kwan Ka-ho and Wong Ka-chun
Proposal: Employing the elderly for nursery services
Other awards: Best Proposal and Most Creative Team