Business is like a game of chess. Pricing, as well as the research and development of a product, must be carefully considered before it goes to market. Then, there’s the competition, which may change the overall strategy of the company developing the product.
Over the Spring semester, business students from all over the world who were willing to take on the challenge were put through a simulated business scenario in the International Collegiate Business Strategy Competition.
Ten students from Missouri Western were put in charge of their own company, forcing them to adapt to a changing economic and political environment.
The teams from Missouri Western, team “Keeps-It” and team “Ekkozeit,” represented Western at the competition.
Makayla Thygerson, a member of team “Keeps-It,” believed the competition benefited her in many ways.
“It helps you to think things through, and how to predict your competition and what they’re going to do,” Thygerson said.
On April 23, the teams from Western traveled to Anaheim, Calif., to participate in what is known as the “intensive phase” of the competition. Whereas students were making only one or two decisions per week for their simulated company, the “intensive phase” pushed them to make many more difficult decisions in a constantly changing environment.
Sarah Williams took on the position of vice president of market analysis and research and development for her team, “Keeps-It.” Her experience was ultimately a positive one.
“It’s a really great learning experience,” Williams said. “It’s, I think, definitely one of the best things offered through the business department, because you do get more hands-on experience than you would in, say, an internship.”
Team “Keeps-It” took second place in the competition and first place in outstanding reports, while team “Ekkozeit” took first place overall. Student can view each group’s data and performance graphs on the bulletin board on the third floor of Popplewell Hall.