OU Business Scholars place second in prestigious international case competition
After a demanding 12 weeks of competition in the two-part International Collegiate Business Strategy Competition (ICBSC), the OU Business Scholars placed second for overall performance in their world.
Members of the Oakland Business Scholars team began meeting in late January for the first part of this challenging competition. In phase one, ICBSC teams met at their universities to make five years of quarterly decisions for the simulated company in their assigned world, produce a strategic business plan and annual report. The teams strive to outperform each other on a number of financial and strategic measures.
In phase two, the teams gathered in Anaheim, California, for the three-day intensive phase to complete the quarterly decisions and make a formal presentation to the judges, who serve as the simulated board of directors. The teams are measured by the same metrics as a publicly held business, productive marketing and strategic financial planning, as well as by the quality of their reports and presentations.
“The OU Business Scholars team really shined during the on-site phase,” says Joy Jiang, Scholars adviser and professor of management. “One of the judges told us that if he had to hire a team manage a company in real life it would be our team.”
“We all learned a great deal about operating a business. By working together to run our simulated company Motor City Manufacturing (MCM) as a team, we were better able to understand how each decision -- from increasing advertising to paying dividends -- affects each aspect of an organization,” says Megan Tack, HRM/MIS major, who held the position of president at MCM. “We applied the business concepts we learned in our classes to make decisions that were best for our organization. It was a challenging experience, but incredibly rewarding.”
Their work paid off. MCM’s stock experienced the highest growth of all 27 teams during the on-site phase, increasing from $2.09 to $14.04.
In addition to Tack, Dave Bork, finance and economics major, Kristine LaRue, finance major, Alex Ilovan, finance major, and Nida Ashraf, finance, represented Oakland on the team.
Now in its 53rd year, the ICBSC continues to provide the best business students from around the world with an exciting learning experience in which they, in direct competition with other college teams, run a simulated company and have the opportunity to network with business executives and students from around the world.
For more information about the Oakland University Business Scholars program, visit oakland.edu/business/scholars.