Business Decision Contest at OCTAVE Business School



Final year students benefit from Business Decision Contest

Thirty students from various graduate colleges in Nagpur were selected by Octave Business School for a Business Decision Contest held on 23rd Dec 2012 at OCTAVE premises. These students represented various well known colleges in Nagpur such as Centre Point (BBA, BCCA), Ambedkar (BBA) and KDM (B.Com, BCCA). 

Before the contest, these students attended special training program conducted by experts with industry experience on business fundamentals and various components of business decisions. They also had an access to mentors. The topics included types of decisions (Strategic, Organizational, Operational); Pricing, Importance of profits, Opportunity cost, Decision Tree (Expected value), Transaction between Seller and Buyer and Customer Lifetime Value. Training method included case discussions and easy to understand business language. 

On the day of competition, each team was given three business case scenarios. They had 90 minutes to discuss among the team members and come out with business decisions for each scenario. Later each team presented their decisions in front of judges and Octave students. Each team was evaluated based on various parameters such as Negotiation skills, Decision Tree, What if concepts, Opportunity Cost, Analytical Skills – Situational & Quantitative, Team coordination, and verbal and written presentation. 

Participating students expressed that they benefited significantly within a short time. The benefits included understanding of financial numbers, increased ability to analyze various business situations, ability to visualize various factors in a business decision scenario etc. While all the teams performed well, the first prize of Rs 5,000 was won by the team from Ambedkar (BBA) College. Octave plans to conduct more such contests in next few months. 

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