Friday, October 10, 2008

Numero Uno Round 1

The hunt for the next CEO has begun! Following the weeklong build-up (Profiles and individual weblogs of the 22 competitors up on the Numero Uno blog) when the participants from the competing universities posted their views on different issues facing the world, IIMB saw a handful of young managers from across the country lock horns this morning . This time Numero Uno has truly moved a step ahead of being just another National level competition with participants representing McGill University, Yale and Lahore University of Management studies joining in.

The first round consists of a group event where the participants have been distributed into groups of 4/5 each and they have to put together a market entry strategy for a product starting with some initial product specifications and seed capital. All teams work in the same market and try to sell the base product with certain variations (In case you were wondering). A comprehensive market plan has to be devised by each team during the first round, complete in terms of product specification, pricing, distribution details and advertising and promotion budget. These strategies will be put to test in a simulated market and the teams will be required to put their heads together once again in round two to evaluate and rework their strategies based on the market response and their competitors’ strategies. (And the enlightened ones amongst us would shout, “Game Theory!”)

The intensity of the discussions were palpable with teams huddled around computer screens, discussing strategies and analysing data at the same time and you couldn’t tell that these people had met each other for the first time this morning itself!

First round gets over at midday and the groups break for lunch while their strategies are evaluated in terms of market share, revenue generation, profitability and market capitalization of the stocks of their companies.

That will be the dough for the first round, but if the enthusiasm is something to go by, we are in for a fight unto death! Stay hooked… for we are going to give you the Next CEO.

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