A case competition is an event in which competitors compete to develop the best solution within the rules and criteria set out by the organizer for a business case study. Teams provide judges with presentations and, although competitions differ in composition, there is a common format and purpose. Cases may be intended for individuals or teams, and contestants must send their work to a jury to judge. Judges commonly utilize a rubric to review members, in view of predefined standards. Regarding the aggregate number of members, the HSBC/HKU Asia Pacific Business Case Competition is the world’s biggest case rivalry, with more than 130,000 members since 2008.
There are different types of competitions, and generally, they are related to business or education. Some of the forms that are most common include:
- Financial modeling – Contestants in financial modeling construct an Excel model to value an organization or a transaction.
- Consulting – Business-related consulting management and policy consulting issues
- Investment banking – Usually, investment banking focuses on transactions such as mergers & acquisitions (M&A)
- Stock pitches – Participants in stock pitches must pitch a long or short investment idea for a public security concept.
- Research – Research topics like science and humanities, can differ widely.
- Data analysis – Big data, mathematics, and quantitative topics may be subjects of data analysis.
(Example of Case Competition)
The idea of the case competition originated in the United States and initially included domestic university participants. Later, with the idea gradually taking root throughout North America and Western Europe, the notion of extending to include foreign competitors arose. Numerous rivalries offer prizes that are granted to winning groups or people. While there is a major reach for monetary rewards, there are a few rivalries that grant around $10,000 to winners.
Today, in different countries in North America, Europe, and Asia, a large variety of international competitions are hosted. International case competitions have also started to extend beyond the undergraduate level, as high school divisions are provided by competitions including the Wharton China Business Society International Case Competition. Top reasons for entering a contest can include:
- Learn new skills
- Build confidence
- Win cash prizes
- Develop leadership skills
- Make new friends
- Improve your resume
To build a more exciting challenge, some competitions add difficulty. Competitions can be internal to a business school, or teams from different schools may be involved. Often the competition requires multiple rounds, with outside company executives usually judging the final round (often the panel consists of executives from the actual business in the case). Judges assess members on a scorecard that incorporates standards, for example, structure, plan, precision, knowledge, and by and large nature of suggestions. Members practice abilities and information on a “real world” case for a real association, with the help of delegates who can give proficient exhortation.
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