Running for over seven years,L’Oreal e-Strat Challenge is an ultimate business game integrating the talents of business students from all over the world to be part of an international business challenge.
In Malaysia 148 teams from over 16 universities and colleges have registered.Out of the 148 teams, 18 were selected to proceed to the subsequent rounds of the competition, where 15 teams will represent the undergraduate category, while three teams will represent the MBA category
Since the launch of the competition in Malaysia in 2001, L’Oreal Malaysia has recruited nine employees for internship and management trainee positions here. The challenge is the first business game in the world to be accredited by the European Foundation for Management Development (EFMD) with the CEL accreditation, for its added value dimensionand its high educational content. The CEL accreditation certifies that the L’Oreal e-Strat Challenge is an outstanding management education programme and acknowledgesits excellent quality and valuablelearning experience.For this year’s challenge, MBA and undergraduate students are to take up the role of a L’Oreal general manager facing real business demands with the ultimate objective of “selling” their virtual company to L’Oreal top executives in Paris during the International Finals.
Students will be translating strategy into a realistic business simulation concerning all aspects of the company:pricing, production volume and capacity,research and development,marketing,advertising and brand positioning. Students will make more than150 challenging decisions and develop a realistic business plan in the course of the challenge. Next month, the top 300 teams will be selected to proceed to the semi-final stage.
The two winning teams (one MBA andone undergraduate) from each of the eight geographical zones will be announced inMarch and will attend the three-dayInternational Award ceremony in Paris.The two worldwide winners will walkaway with a trip to the destination of their choice worth 10,000 euros.
At a recent prize giving ceremony for the past e-Strat players for the 2006 edition,Couve presented vacation vouchers worth RM6,900 to the top three winning teams.The first prize winner was Team Presto(UTM), which won a RM3,000 travel voucher. The second place winner wasTeam TrioRookie (Taylor’s Business School) and third place was TeamSomeBixBoomers (MMU) who wonvouchers worth RM2,400 and RM 1,500 respectively. The participating teams of thisyear’s challenge were also present at the event.
Excerpt from The Sun
Link: L'ORÉAL BRANDSTORM 2006
Link to this page: Malaysia Today and Beyond
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