In this competition, each team takes over the management of a simulated manufacturing company competing directly against 4-5 other firms run by competitor teams in its Simulated World. The team assumes responsibility for key strategic and operational decisions in marketing, finance, and operations. Teams in the competition are divided into “worlds” of about four to six companies with undergraduate teams and MBA teams having their own worlds.
The starting position of all teams is identical. Each of the companies has two years of identical history which becomes available to students through a set of starting reports. Twenty sets of quarterly decisions are then submitted by the teams for company operations over a simulated period of five years. Teams strive to outperform each other on a number of financial and strategic measures.
Each team is responsible for a strategic business plan, an annual report, and one formal oral presentation to judges (who serve as the simulated Board of Directors). Team members have the experience of running their own company and learn first-hand how a group effort can result in synergy and enthusiasm.
To learn more about how this works, please see our YouTube video accessible from our home page. It was developed by a student team that competed in the 2009 Competition.
Who judges the Competition?
Senior business executives who donate their time and personal resources to the Competition are the judges. A group of judges is assigned to evaluate the performance of a particular world. They evaluate the teams based on their overall financial performance, how well they implemented their strategic business plan, their oral presentation, and the quality of their written documents.
Why is this Competition different from others?
No other competition involves both a remote phase and an intensive phase. While some competitions involve writing and/or presenting a business plan for a company, this competition involves the development of a Strategic Business Plan for a company, the EXECUTION of that plan in a simulated environment, the writing of an Annual Report, and a presentation to a “Board of Directors.” During the remote phase, students make up to 80 business decisions per quarter, per week for ten decision periods via the internet. It is during the remote phase that each student team writes their company’s Strategic Business Plan and begins implementing it. After ten weeks of competing remotely, all teams will then come to the on-site hotel for three days of “intensive” competition. It is at the on-site where you will meet your judges and other student team competitors. The comprehensiveness of the simulation and the intensive phase are what makes this competition so unique and special. The International Collegiate Business Strategy Competition is the longest running and most comprehensive business competition in history.
The ICBSC is based on three learning principles:
- Create a values-based learning environment.
- Improve upon students decision-making skill sets while under intense scrutiny by a “board of directors” and “corporate shareholders.”
- Increase understanding of the global business market as it relates to revenues, profits and socially responsible business practices.