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NUS team again No.2 in business plan contest
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| Chia Yan Min |
Mon, Mar 31, 2008
The Straits Times
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A TEAM from the NUS Business School has been pipped at the post for the second year at a business plan competition that attracts MBA students from across the world.
Cerebration 2008, organised by the local business school, was won by the HEC Montreal team, which walked away with trophies and a cash prize of $10,000.
The NUS team was first runner-up in the final field of four, which also included the London Business School and McGill University, also from Montreal.
| Now in its fourth year, the event gives MBA students a chance to devise global business expansion strategies for participating Singapore companies. This year saw Brewerkz Restaurant and Microbrewery, beauty and wellness company Expressions International and ornamental fish specialist Qian Hu Corp stepping into the spotlight.
Each team had to study its chosen firm and suggest strategies based on the firm's unique profile and target market.
Entries came from 450 teams from 200 schools worldwide, leaving judges a tough job of picking just four finalists.
NUS Business School's acting dean, Professor Kulwant Singh, who was one of the judges, said: 'Students get a rare opportunity to take on a real-world challenge and apply what they learnt in their MBA classes.'
The four finalists, who perfected their business plans over the past five months, presented the fruits of their labour at the Grand Hyatt last Friday to judges and an audience of masters-level students and corporate representatives.
The judging panel included management representatives of the three participating companies, NUS faculty, and representatives from DBS Group Holdings and Spring Singapore, both partners of the event.
'A lot of hard work had gone into the presentations and, clearly, the ideas are very good ones backed by solid execution plans,' said Ms Tan Ee Lee, a judge and an executive at DBS, one of the sponsors.
Judges were impressed by the high level of detail and effort that went into HEC Montreal's presentation, which focused on the possible expansion of Brewerkz into Hong Kong.
Mr Rani Salman, 27, who was on the winning team, said: 'I think our creative strategy and in-depth research helped us stand out. We also tried to build a rapport with the judges with a less formal presentation style.
'The process was a challenging and interesting one, plus the case involves beer, which is something we all have an interest in.'
Mr Mohammed Zafar Ali, 32, from the NUS team, which placed second last year as well, added: 'I think the entire experience is more important than winning or losing.'
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