SLIM – Industry Masters Business Strategy Challenge

Thursday, 27 October 2011 03:35 - - {{hitsCtrl.values.hits}}

SLIM conducted the inaugural ‘Who Wants to be a CEO’ Business Strategy Challenge using the world renowned Industry Masters’ Real Time Business Simulation, recently at Excel World.

This was the first time a strategic business game of this nature took place In Sri Lanka, and the uniqueness was that all the teams battled it out for market leadership via the internet.

Speaking at the event, the President of SLIM Thushara Perera said: “SLIM has continuously focused on developing the marketing fraternity and professionals alike, the SLIM industry masters challenge is one such activity that SLIM pioneered to ensure futures leaders are identified and recognised for grooming to take top corporate positions thus contributing to the national economy.”

Out of 36 teams, twenty teams comprising five members per team headed by a self appointed CEO were selected to the final round to competed against each other in a Fashion Retail simulation for three simulated years.

The event saw the participation of teams from many a leading corporate of Sri Lanka and the challenge lasted three hours where every 15 minutes were equated to one quarter of a financial year.

As part of the simulation, participants had to manage and make quarterly decisions on business strategy, investment budgets, product portfolio, product lifecycle, supply chain, pricing, marketing mix and differentiation, with each decision being played out in a virtual economy created by the decisions of the other players as well as external factors.

The project chairman of the SLIM Business Games Leroy J. Ebert had this to say: “The SLIM Industry masters game was indeed a challenge for any member who participated and it certainly brought out the best of all participants. It was certainly encouraging to see the immense potential that the youth of Sri Lanka has and the nature of the leadership they possess, it was simply amazing”

The winners walked away with valuable cash prizes, certificates, trophies and bragging rights to state that they are truly industry masters. The event was organised by SLIM.

Team Commercial Credit comprising of Andrew Samuel, Sanjeeva Jayamanne, Vathsala Sathayakeerthi, Tharaka Dayabandara, Shashipradha Pemasingha immerged champions while teams Hackers and Kevlar Bolts were places first Runners up and second runners up respectively.