A Global Mix of Top MBA Students Answer the Challenge; e-Strat Attracts Over 1500 Student Players World-Wide
NEW YORK, April 19 /PRNewswire/ -- This year 83 American teams were selected to play the e-Strat Challenge, a virtual marketing game developed by L'Oreal, the world's leading beauty company and Strat X, experts in design and application of marketing and business strategy simulations. Four of the 83 teams finished top 50 world-wide led by team Victoria from Indiana University, followed by Mahara from Bentley College, Emuwin from Eastern Michigan University and Phillysmostwanted from the University of Pennsylvania. (Photo: http://www.newscom.com/cgi-bin/prnh/20020419/NYF063-a http://www.newscom.com/cgi-bin/prnh/20020419/NYF063-b http://www.newscom.com/cgi-bin/prnh/20020419/NYF063-c ) Introduced in January of 2001, the e-Strat challenge was specifically designed for MBA students. Participating teams are given control of a virtual beauty company and a portfolio of brands. They must compete for world wide leadership against four other virtual companies which are run automatically by the simulation. During the six rounds of competition students are asked to make over 150 critical decisions that demand the use of analytical thinking, strategic marketing and solid business principles to gain market advantage against the competitive brands. The top three winners are the teams that achieve the highest stock price index at the end of the eight weeks of competition. This year when the game began, 7800 candidates from 50 different countries registered to play, more than double that of last year. Participants had to register in teams of three. Team members had to attend the same school or university. In addition to the standard entrance forms, each team member had to answer a multiple-choice quiz and the whole team had to answer a subsidiary question. Based on these criteria, 790 teams were chosen to play and at the end of the competition 515 teams representing 46 countries fully completed all six rounds. On Thursday, April 18th in Paris, seven teams convened for the award ceremonies, six of them were regional winners: Brazil's Belezaefundamental; Canada's Bakedpotato; Tau from Israel; SasinMBA from Thailand and the two teams from Poland, Copernicus and Economists. One American team from the Kellogg business school at Northwestern University was awarded a special participating prize. But top honors went to team Economists from Poland who placed third overall, Brazil's Belezaefundamental in second place, and Copernicus of Poland who were announced global champs. Each team receives a four-day, all-expense-paid stay in Paris. Additionally, each member of the first place team will be flown for a week long stay in the destination of their choice anywhere in the world; each member of the second place team will receive a camcorder; and the third place team members will each receive a digital camera. Through e-Strat, L'Oreal has found an innovative way to give students an insight into the world of business, what it takes to manage a leading beauty company and the role that the new technology plays, while enhancing their perception of the company's leadership in technology, R&D and marketing. For further information on e-Strat log on at http://email@example.com. L'Oreal S.A., based in Paris, is the world's leading cosmetics company with 2001 consolidated sales of 13.7 billion euros. Operating in more than 150 countries and employing more than 48,000 people, L'Oreal Group companies manufacture and market such well-known brands as L'Oreal Paris, Lancome, Maybelline, Laboratoire Garnier, Redken 5th Ave NYC, Soft Sheen/Carson, Kiehl's Since 1851, Matrix Essentials, La Roche-Posay, Ralph Lauren Fragrances, Giorgio Armani Parfums and Cosmetics, Biotherm and Helena Rubinstein. MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X69715403
More by this Source
Marc Speichert Named CMO Leader For The L'Oreal Group
Dec 02, 2013, 11:20 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.