CEO Challenge
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FacebookAre you up for solving a business problem? Want to show off your leadership ability? Are you ready to run a billion-dollar business? If you are, we are offering a business simulation competition for teams and individuals. The CEO Challenge is an exciting event where you can take over as the CEO of a multi-billion dollar company. In this role, you are responsible for the success and profitability of the organization.
In much the same way a flight simulator enables pilots to hone their instincts and build their flight skills, the simulation provides you with the opportunity to “fly” a business. By applying new ideas and concepts into a risk-free environment, you will experience the systemic consequences of your actions and uncover the critical interactions which may drive or prevent the business success of your simulated company.
HOW IT WORKS
The CEO Challenge is designed to build a deeper comprehension of financial reporting and metrics, and to further develop a strategic mindset. Participants learn how their decision-making can support and help achieve business strategy. Bior Pharmaceuticals has not been meeting forecasts. Sales are declining, product sales are underachieving, and there is uncertainty in market feasibility of new products. In the simulation, teams of learners take on the role of Bior’s executive leadership team and become responsible for making strategic and operational decisions that will grow revenue and profitability. The Bior simulation has a deeper set of marketing decisions including corporate awareness, product branding and messaging, audience targeting, and managing the marketing mix to help learner better understand the commercial side of a pharma company. This will be a two day competition: November 16 & 17, 2023.
LEARNING FOCUS
Building a deeper comprehension of strategic thinking and planning frameworks and models.
Build a stronger comprehension of a company's financial position and key business metrics
Recognize the interconnections, challenges, and opportunities faced by companies
Understand how to compete in a changing and evolving marketplace
TEAMS
Teams are made up of 3-5 people and cross collaboration teams between colleges will be promoted. Submit your own team or sign up as an individual.
PRIZES
1st Place: $10,000
2nd Place: $7,500
3rd Place: $5,000
4th Place: $3,000
5th Place: $2,000
LEARNING OUTCOMES
As a result of this program, you will:
Strengthen financial acumen to better appreciate the levers that impact a business’ growth and profitability
Develop a free enterprise mindset to improve decision making from a financial perspective
Improve your understanding of how business executives think about priorities and how they make decisions
Understand a balanced scorecard and the tradeoffs that impact performance
WHO CAN PARTICIPATE
ALL MAJORS ARE WELCOME!
To be eligible, participants must be enrolled in an undergraduate, or a graduate program at the University of Kentucky. Participants can register teams of 3-5 or can register as an individual to be placed in a team later on. Please click the registration button below to sign up. Deadline: October 27, 2023. For questions, please contact Dr. Charles Courtemanche, isfe@uky.edu.