Recently, a team of students from FPT University Hanoi achieved an impressive fourth place in the international I-CEE Student Case Competition, organized by the I-CEE Center at Beijing Foreign Studies University (China).
The team from FPT University Hanoi participating in the I-CEE Student Case Competition 2024 included: Nguyen Thi Thu Hoai (International Business major), Pham Huu Khiem (Digital Marketing major), Vu Tra Giang (Digital Marketing major), and Vu Đuc Minh (Digital Marketing major), under the guidance of Dr. Nguyễn Phi Hùng (Lecturer in Business Administration).
The topic chosen by the team for the competition was: “Penetrating Emerging Oil and Gas Equipment Markets Using DEA Approach: A Case Study of Hoffman Beijing’s Plate Heat Exchangers Entering the Sub-Saharan African Market.”
This research focuses on developing a market expansion strategy for Hoffman, a manufacturer of plate heat exchangers based in China.
The specific goal of the study is to help Hoffman identify suitable markets for expansion. The team evaluated countries worldwide and identified Central Africa as a promising region, with Nigeria as the primary target. They conducted a comprehensive market analysis, including an assessment of logistics infrastructure, distribution, and the legal environment in Nigeria. Based on these analyses, the team proposed a strategy focusing on Lagos, a key economic hub with superior infrastructure.
The project presented a detailed strategic plan, including risk management and targeted marketing, to ensure successful market entry and facilitate sustainable growth for Hoffman in Nigeria.
The judges highly praised the team’s project, particularly for its detail and practicality in market analysis. The team employed various analytical tools such as PESTEL, SWOT, and MCDA to offer feasible solutions for Hoffman. Their proposal was considered one of the most innovative and detailed among the competing teams, providing a comprehensive view of the challenging oil and gas market.
This is a highly complex project that required the team to have strategic vision and creativity. The biggest challenge was the collection and analysis of data. Finding comprehensive data and conducting the analysis was a significant hurdle for the student team. Additionally, since team members came from different majors and were involved in their own projects, coordinating time to complete the joint research was also a major obstacle.
Thanks to their efforts, the team from FPT University achieved an impressive fourth place out of 90 teams from various countries. After the competition, Thu Hoai shared: “This competition provided us with many valuable experiences and lessons. Although our team was fortunate to achieve a high result, we recognize that there is still much for us to learn and improve. We will continue to apply these lessons and experiences to our studies and future careers.”
The I-CEE Student Case Competition is an international contest aimed at providing students from around the world with the opportunity to apply their knowledge in practical scenarios and explore innovative solutions for real-world business challenges.