CEO Challenge

The 2022 CEO Challenge was open to all University of Kentucky undergraduate and graduate students. Undergraduate and graduate students competed in separate divisions. The prize pool was $20,000 and awards were given to the top 3 performing teams in each division: 1st place, $5,000; 2nd place, $3,500; 3rd place, $1,500. To incentivize sign ups for the inaugural year, all registered participants were given a $100 scholarship. A total of 125 students registered; 105 undergraduate students and 20 graduate students. Teams were made up of two to four students.

The 2022 simulated company was Fizz, a global consumer beverage company. Fizz's previous leadership team reduced marketing and operating expenses, slashed new product research and development, and have sunset underperforming products. As the new CEO of Fizz, teams are responsible for driving the success and profitability of the organization by developing a new strategic direction. Teams make day-to-day operational decisions to help generate more revenue, manage cash flow, turn a profit, and build shareholder value over the course of the simulation.

After a successful competition in 2022, the 2023 CEO Challenge was expanded to allow students enrolled at other universities to participate. Teams from the University of Kentucky participated in person; Georgia Institute of Technology, Georgia State University, Northern Kentucky University, and West Virginia University participated virtually. The competition was open to both undergraduate and graduate students. Unlike 2022, all participants competed in one division. The prize pool was increased to $27,500 and awards were given to the top 5 performing teams: 1st place, $10,000; 2nd place, $7,500; 3rd place, $5,000; 4th place, $3,000; 5th place, $2,000. A total of 143 students registered; 116 UK students and 27 non-UK students. Teams were made up of three to five students.

The 2023 simulated company was Agenius Pharmaceuticals, a multi-billion-dollar global pharmaceutical company that discovers, manufactures, and markets specialty medicines. Teams are responsible for setting a strategy and executing it through decisions in Marketing, Pricing, Sales, Medical Affairs, Research and Development, Production, and Finance. Over the course of four simulated years, teams helped Agenius generate more revenue, manage cash flow, and turn a profit by launching new products, managing products losing exclusivity, optimizing supply chain and inventory management, and much more. Teams were judged on their stock price, net income, revenue, research and development spending, dividends, free cash flow, and presentation.

"The simulation was a great learning experience. I like that it was autonomous and hands off, with us getting to just be in the simulation and working with our teams."

"The simulation was incredibly impressive and was helpful to understand how business markets work."

"I liked the ability to utilize what we learn in the classroom to real life decisions."

"It was super engaging throughout: well paced, competitive, fun."

"I thought it was an incredible way to showcase free enterprise with no stakes."

"The simulation was very fun! It was nice to practice the skills I learn in class in a risk-free environment. This exceeded my expectations."

"I enjoyed the realistic aspect of it. It's something I could apply in the real world someday."

"Every aspect of the event was fantastic and very insightful. Truly more valuable than most classes taught at UK."

All testimonials were collected through an anonymous feedback form.

The Institute is currently seeking additional funding to continue the CEO Challenge.

To inquire about potentially supporting the Institute's mission, please email isfe@uky.edu.