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.