Greetings and welcome to the Integrated Business Competition Case Challenge! This competition will require you to integrate and draw upon the knowledge, skills and abilities attained in all eight Integrated Business courses.
All students participating in the IBC Case Challenge must form teams of 4-5 members entirely on your own! Think about your all-star IB team! All participants must be currently enrolled as an IB major.
- The IBC report is due by Monday, March 2nd at 9:00 AM.
- All report submissions must be emailed to Christopher.firstname.lastname@example.org as a Word doc with Excel financials attached separately
- A team of IB faculty will then review those submissions and either approve/deny them
- Semi-finalist teams will be announced via email no later than Monday, March 16th at 9:00 AM
- If your team is selected as a semi-finalist, you will be asked to build and deliver a 10 minute Prezi presentation that highlights the key findings of your report and present those findings on Friday, March 20th, at 4:30 PM to IB Alumni and our Advisory Board members
The IBC Case Challenge is sponsored by our corporate partner:
Spring 2020 Business Concept:
Greetings! You’ve been hired as consultants to help a struggling business. They have provided you with some basic financials but nothing else. They’ve asked you to create a new business plan with an entirely new direction! Please build a report that covers all the topics below.
Provide an executive summary that outlines, in a concise manner, the most critical aspects of your analyses. Your executive summary should adhere to the format and content guidelines described in the following article: https://www.surveygizmo.com/resources/blog/how-to-write-executive-summary/. It should identify your most critical findings and then highlight key components of your recommendation (this should be written last).
Mission Statement: Create a mission statement for our client. A mission statement defines a company’s goals in terms of what your client does for its customers, its employees, and its owners. It is the ‘why’ of their business strategy.
Service and/or Product Line: Describe what they sell and/or what services they offer. Explain how it benefits your customers and what the product lifecycle looks like.
Business Climate Analysis
For this portion of the report, conduct a PESTLE analysis but only report on relevant factors. PESTLE stands for “Political, Economic, Socio-Cultural, Technological, Legal and Environmental” factors.
The questions to ask are:
- What are the key political factors likely to affect the clients industry?
- What are the important economic factors?
- What cultural aspects are most important?
- What technological innovations are likely to occur?
- What current and impending legislation may affect the clients industry?
- What are the environmental considerations?
Integrated Marketing and Sales
- Marketing Objectives
Define 1-3 SMART marketing objectives.
Define your target market and your value proposition.
- Marketing recommendations
Provide clear and creative tactics for:
- Price recommendations
- Place/distribution recommendations
- Sales Promotion
- Public Relations
- Digital marketing
- Customer Acquisition
- Customer Retention
- Marketing Data strategy
- Marketing budget
- What is the required budget to implement your plan?
- How much in new sales will your plan generate?
- What is the return of the marketing investment?
- Marketing calendar
- Define in what season you recommend to implement the plan, why and for how long.
Data Driven Decision Making
Your team will need to develop both a Problem Statement and a Balanced Scorecard for your client. The Problem Statement will be used help your team analyze the situation and break the issue down into manageable components. The Balanced Scorecard will be used to evaluate whether changes implemented by the business have created success.
Requirements for the Problem Statement: The Problem Statement should include clearly identified symptoms and causes, constraints hampering the business, and any assumptions that your team makes. Identify all stakeholders involved, and describe success criteria as applied to each of the stakeholders. The success criteria should include a timeline.
Requirements for the Balanced Scorecard: Building upon the success criteria identified in the Problem Statement, create a Balanced Scorecard for the business. The Balanced scorecard should include two or more goals for each of the following four areas:
- Internal (processes and procedures)
- People (employees, suppliers, or stakeholder, separate from customers)
Each goal should be written as a SMART goal, with a key performance indicator (KPI) identified and a target for that KPI, which will clearly show whether or not success has occurred.
Human Resource Management
You will need to decide how to recruit, select, compensate, and evaluate a general manager (GM) for your client. These are related tasks in that they are all dependent on the job description you create. Based on that description, develop a recruitment and selection plan that you will use to attract and hire a GM. Next, describe a compensation plan that addresses the three components of internal equity, external competitiveness, and individual recognition. Finally, explain how you will evaluate your GMs performance and provide performance feedback to him/her. Note that all the decisions you make in regard to your human resource management practices should be consistent with the established mission, values, goals, and resources of your clients operation.
Using the Microsoft Excel template (provided in a separate file) research and identify industry specific data and prepare both pro forma income statements and pro forma cash flow budgets for years 2 & 3. Estimate increases in expenses based both on usage increases and increases in the Consumer Price Index (CPI)
Implementation Project Plan
In this section, please explain how the idea you are proposing will be implemented. Use a written narrative AND project management tools and techniques to demonstrate the following items. The written narrative should explain your decisions and choices and the reasoning behind them.
- Use written narrative to articulate the implementation objective. Your objective should include the exact outcome/state you are trying to reach.
- Describe AND illustrate the following:
- The breakdown of work to be performed in order to reach the objective using a Work Breakdown Structure. Make sure to follow the WBS best practices you learned in MAN4583.
- The implementation timeline of the work packages in the form of a Gantt Chart developed using a scheduling software. It is recommended to use GanttProject (a free, open source software available at ganttproject.biz) but you may use a different scheduling tool if you prefer as long as it produces a well-formatted Gantt chart. Make sure to include milestones (at least “start” and “end”) and to connect work packages to their predecessors.
The report must be double-spaced. Use 12-point Times New Roman with 1-inch margins on all sides. Write in paragraphs using dialog and avoid using bullets. It will take approximately 10 pages of text to do a thorough job on this analysis. You can (and are encouraged) to provide appendices (charts, graphs) in the report. Use headings (left justified) for each of the main sections of the report, and number each page. Provide a cover page that includes your team name, team member’s names, the university, “IB Competition” and date.