UPEI takes first and third spots on podium at recent case competition
In its second year of competition, teams from UPEI travelled to Halifax to take part in the Atlantic Throwdown Case Competition, March 9-10. With nine student teams, the event pitted rival professors, Sujit Sur (Dalhousie) and Edward Gamble (UPEI), against each other. UPEI teams placed first and third and retained the challenge trophy (awarded to the team with the highest cumulative total points) for the second consecutive year.
The Throwdown is designed to give third-year students their first taste of competitive case analysis. It is also used as a tryout for the fourth-year case competition class whose members, this year, have been successful in numerous national and international competitions.
The pressure on students competing for the first time added increased stress levels and the participants certainly were at a fever pitch. This was a baptism of fire for these students. Using the current fourth-year case team members as student advisors and mentors, the teams had to prepare for a two pronged case analysis. Friday night involved a 'Buy Sell or Hold' analysis of a company, testing financial valuation knowledge and portfolio management theory.
Alana Mckie, one of the mentors for UPEI's first place team, had a great experience sharing her techniques and methods. 'They were very receptive to our feedback and they learned really quickly. By seeing success this weekend, hopefully they will be motivated to apply for the UPEI case team to represent the University at future competitions.'
On Saturday, the teams were then presented with a broader based strategic case. This tested not only financial knowledge but also included marketing, product distribution, and detailed strategic analysis. The teams were required to present their recommendations to the assembled panel of judges. This required the teams to analyze the situation within a three hour timeframe and to craft a presentation with their recommendations. They then had 10 minutes to pitch their case and answer any questions that the judges put to them. Knowledge, confidence, quickness of thought, and logic of rationale were all put to the forefront in this process.
Case competitions have been an integral part of business education; for example, they are a staple at the Harvard School of Business, which pioneered their usage. The scenarios provide students with the requirement to analyze real world business situations and to make recommendations as if they were the business executives or consultants.
Success at these events does not come easily, and is the result of many hours of preparation combining classroom knowledge, with analytical skills that need to be wrapped in a presentation style to present their conclusions. Thanks goes to Professor Edward Gamble for his guidance and mentoring, and to the 4th year case students who acted as coaches and inspiration for the competing teams.
