Companies and business schools often sponsor case competitions and invite teams of students to solve real-world business problems. These problems include evaluating new ventures and resolving management dilemmas with time-critical deadlines. Using all this information, the teams formulate their recommended action plans, which are presented to the chief executive and board of directors.
Participating in these competitions have many benefits for students, including hands-on experience, networking, recruitment and more. Here are several more reasons why you should consider joining any career related competition; being part of a team allows a single unit to achieve a common goal, it provides an opportunity to integrate and apply knowledge from multiple classes, case competitions allow students to showcase their professionalism through organisation and presentation.
They also provides students with the opportunity to present in front of an audience of industry professionals and to develop their public speaking skills - this is an important skill for becoming a successful professional. Case competition gives participants a unique audience in front of which a participant can practice public speaking.
This depends on the specific case competition participation criteria. However, it would prove to be beneficial if participants had the following skillsets: Problem-solving: the ability to resolve complex dilemmas, personal impact: the ability to work well with your team members and manage conflict, leadership: the willingness to take personal risks and influence the team to gain consensus, and drive and motivation: the desire to achieve results and excel.
The amount of time committed to case competitions is at the discretion of the participating student.