FedEx Inspires Business Innovation Among Hong Kong Students
HONG KONG, July 23, 2012 – Six secondary school students in Hong Kong have devised winning strategies to capture a share of the entertainment services business in India as part of the local leg of the FedEx Express / Junior Achievement 2012 International Trade Challenge. They will represent Hong Kong at the regional competition which will be held in Hong Kong on August 27-29. These Hong Kong winners will compete with 24 other teams from Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand and Vietnam.
The competition is designed to prepare students for the global marketplace by stimulating their creativity and instilling a spirit of entrepreneurship.
The students, who worked in teams of two, included:
- Cherry Cheuk Yee Ng and Solomon See Wai Wong from St. Paul’s Co-educational College;
- Derek Cheuk Ka Tse, Cedric King Hei Leung from La Salle College and
- Anthony King To Jim and Isaac Kai Shing Lam, also from La Salle College.
The Hong Kong student teams submitted strategies to market a self-proposed or developed entertainment service to India, detailing marketing, promotion, pricing, inventory and product distribution plans. Winners were chosen for their understanding of the significance of market research, creativity, planning, and entrepreneurial skills in entering new markets.
“FedEx is about giving people access to opportunities around the world,” said Anthony Leung, managing director, FedEx Express Hong Kong and Macau. “As more and more companies become global in their outlook, students need to think on a broader level and understand the needs of different countries. The FedEx / JA International Trade Challenge offers hands-on experience about how the business world operates so that our future leaders will be better prepared when they enter the global workforce and can invoke positive change.”
Members of the judging panel included Dr. Edmund Lee, Executive Director, Hong Kong Design Centre, Dr. Fun Ting Chan, College Vice-Principal (Academic Affairs), HKU SPACE Community College, Ms. Jessica Jook, Executive Director, Crosby Asset Management (Hong Kong) Limited and Mr. Patrick Yeung, Executive Chairman, Asian Capital Holdings Limited.
“The purpose of Junior Achievement is to inspire and to prepare our young people to succeed in a global economy, and the FedEx/JA International Trade Challenge is the perfect inspiring platform,” said Ms Vivian Lau, CEO of Junior Achievement Hong Kong “Through this Challenge and with the support and guidance of business volunteers, our students have the opportunity to develop their creativity and to unleash their entrepreneurial potential. We are honored to be partnering with FedEx Express, a leader in global trade, to provide our young leaders with this cross-cultural exchange and invaluable learning opportunity.
As part of the FedEx commitment to assist these budding entrepreneurs on the road to success, FedEx employees volunteered as mentors and workshop consultants in order to help students understand the concept of international trade and guide them in the development of their plans.
Now in its sixth year in Asia Pacific, the FedEx/JA International Trade Challenge helps students learn about international trade and provides them with an opportunity to set up a mock business and develop a plan to export a product to an overseas market.
About this year’s winners
- Team St. Paul’s Co-ed (Cherry Cheuk Yee Ng and Solomon See Wai Wong, St. Paul’s Co-educational College) proposed establishing a jungle-themed water park in Ramnagar, India, that combines Indian culture and entertainment in one attraction. The 60-acre site will be located near traditional tourist hot spots such as the Jim Corbett National Park, Garjiya Devi Temple and Seeta Bani Temple, which will help direct traffic to the water park. The four activity zones within the water park can cater to customers of all age groups – from relaxing on beaches, family fun to enjoying thriller water rides and attractions. The team believes the hot climate in India, coupled with the government’s promise to boost tourism, could make the water park a successful entertainment destination.
- Team Napia (Cedric Cheuk Ka Tse and Derek King Hei Leung, La Salle College) proposed setting up a mobile napping and massage parlor aimed specifically at working women in Mumbai, India. A fleet of caravans will be transformed into wellness centers and doubles as a limousine service, providing customers with massage services while taking them to their destinations. The team believes the service will appeal to its target customers, as the long commute time in Mumbai due to traffic congestion can be utilized for a quality relaxation period.
- Team J&I (Anthony King To Jim and Isaac Kai Shing Lam, La Salle College) proposed introducing a palm-size portable karaoke projector that allows customers in India to share and perform their favorite songs with friends and families anytime anywhere. Customers can rent the devices and download karaoke music videos on to it. Music videos are projected directly from the device. The team believes the limited entertainment choices in India, which traditionally has been watching cricket matches and movies, are not enough to satisfy the growing demand of young adults. The device will appeal to Indians who culturally enjoys singing together.
About the FedEx Express / Junior Achievement International Trade Challenge
Designed to foster business knowledge through practical teamwork exercises and classroom learning, the FedEx Express / Junior Achievement program comprises two key activities – the International Trade Workshops and the International Trade Challenge.
In Hong Kong, the trade workshops were held on November 12, 2011 and May 12, 2012. Around 300 students participated to learn from speakers from business and academia. The speakers shared both theories and real-life experiences to equip students with an understanding about international trade.
To enter the FedEx Express / Junior Achievement International Trade Challenge, the teams have to develop a specific product and create an original international marketing plan for a designated country. Through this process students work as teams of two and gain first-hand experience of what roles world trade, product distribution, and sales play in a market environment. In addition to teamwork, participating students learn about the basics of risk evaluation in the business world and gain confidence in their analytical ability.