Business students are world-champion strategists
Kim Chaudoin | 615.966.6494 |
One of the most successful athletic shoe companies in the world is managed by a team of three business-savvy Lipscomb University students. Well, at least one of the most successful virtual companies in the world is.
A team of three business majors, including Christopher Avrit, Qiaochu (Jessica) Chen and Christopher Shay, were recently declared grand champions in the December 2014 Business Strategy Game’s Global Best-Strategy Invitational. The group and its company, Global Footwear, outperformed 10 competitors from the University of Alabama and the University of Central Oklahoma as well as universities from Canada, Azerbaijan, Japan and Malaysia.
“This first-place win by our student team is exciting and is another validation of our mission to develop business leaders,” says Ray Eldridge, interim dean of the College of Business. “In schools of business, we do not have many external sources to compare and rank ourselves against, therefore making it difficult to benchmark our programs. We do know our assessment of student learning metrics consistently rate us above our peer ACBSP and AACSB accredited schools and our job placement rates are unrivaled but this hands-on business challenge gives us further proof that we are current, relevant and impactful.”
The team of students is part of the College of Business’ capstone course, “Business Policy and Strategy.” Jerry Stubblefield, clinical professor of management, and Joe Ivey, clinical professor of management and as executive director of the Lipscomb Center for Entrepreneurship, teach sections of the course.
In the course, students form teams to manage a worldwide athletic shoe company in a business simulation called the Business Strategy Game, distributed by McGraw Hill Education. In the game, students in each company assess market conditions, determine how to respond to competitors, forecast sales volumes in 12 worldwide markets and make decisions to position the company’s long-term direction and strategy.
“One of the most challenging experiences for students in the College of Business is the ‘Business Policy and Strategy’ course,” says Stubblefield. “The course provides an integrating experience in developing and executing policy and strategy in an organization.”
Teams finishing in first place in their university competition are invited to participate in the global invitational, a competition among high-performing teams from more than 600 universities in 53 countries. Teams were divided into 11 simulation industries, each competing for a BSI grand championship.
Taking a few risks and good teamwork were keys to the team's success, says Avrit.
"I think we won for several reasons. We went beyond seeing the game as a homework assignment and saw it as a competition to compete in and enjoy," says Avrit, who is enrolled in the Bachelor of Business Administration/Master of Accountancy program. "Early in the competition at Lipscomb that led up to the international round, I made a point to read and deeply understand the entire instruction manual for how the game worked. That enabled us to take advantage of various opportunities that others didn't see or weren't willing to try. We had a great team that was very respectful of each other and willing to work hard to succeed."
"Overall it was a lot of fun and a great learning experience, especially in how to operate effectively in a team," he says. "The experience has deepened my understanding of business and sharpened my analytic skills. I think I have been very effectively prepared to work and serve in business wherever God leads."
Chen, who graduated in December with an accounting degree, says the competition gave her valuable experience.
“My team members are really smart and intelligent with their financial knowledge and business strategies,” says Chen, a native of Shenyang, Liaoning, China. “And teamwork really helps. When our disagreements became one agreement, the agreement usually was a great one. We respected each other and we knew that everyone was trying their best for the team and competition. The competition helped me build up my confidence and helped me interpret business activities better on a real-world level.”
The competition gave Shay an opportunity to apply what he learned in class.
“What I learned in accounting classes and in the ‘Business Policy and Strategy’ course was invaluable during the competition,” says Shay, a December graduate who majored in international business and information technology management. “We went in with a plan, but were able to adapt quickly as conditions changed. It was an excellent experience, and we are thankful that we had the opportunity.”
For more information about the College of Business visit business.lipscomb.edu.