{"id":1640,"date":"2014-04-15T13:35:43","date_gmt":"2014-04-15T21:35:43","guid":{"rendered":"http:\/\/blogs.oregonstate.edu\/business\/?p=1640"},"modified":"2014-04-15T14:57:48","modified_gmt":"2014-04-15T22:57:48","slug":"class-14-mba-students-compete-12th-annual-mba-business-plan-competition","status":"publish","type":"post","link":"https:\/\/dev.blogs.oregonstate.edu\/business\/2014\/04\/15\/class-14-mba-students-compete-12th-annual-mba-business-plan-competition\/","title":{"rendered":"Class of \u201914 MBA Students Compete in the 12th Annual MBA Business Plan Competition"},"content":{"rendered":"

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Last Friday, nine teams of MBA students in the Commercialization and Clean Technology tracks competed in the 12th Annual MBA Business Plan Competition. The two day event brought 16 business leaders from around the state to Oregon State\u2019s campus to judge the competition and to serve as mentors.<\/p>\n

Each team was tasked with creating a viable business plan based off of real-world scientific breakthroughs, then presenting their business plans in a variety of competitive formats. The presentation is a culmination of their Integrated Business Plan (IBP) projects which the teams have been working on since last October.<\/p>\n

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Oregon State MBA students wait to present their business plans at the 12th Annual MBA Business Plan Competition.<\/figcaption><\/figure>\n

On Thursday evening at the LaSells Stewart Center, each team gave a brief \u201cshark tank\u201d pitch outlining their business\u2019 market opportunities and objectives. Then, one student from each team presented their \u201celevator pitch\u201d to one of the judges. This pitch is a simulation of a chance meeting with a potential investor in an elevator, whereby the seller has only 45 seconds (or about five floors) to pitch their business.<\/p>\n

\u201cAs time intensive and energy-consuming as the Integrated Business Projects can be, the process is so valuable for our students and faculty that even though they\u2019re very challenging projects, they\u2019re equally rewarding,\u201d said Ilene Kleinsorge, dean of the College of Business.<\/p>\n

Team nine, composed of Jordan Stutzman, Wenqian Chen, Qinqing Song and Yuhang He took first place in both the shark tank and elevator pitch portions of the competition. Their business project is a technology for a storm water management company.<\/p>\n

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From left: Yuhang He, Wenqian Chen, Qinqing Song and Jordan Stutzman took first place in both the shark tank and elevator pitch portions of the competition<\/figcaption><\/figure>\n

The next day, each team presented their in-depth plan to the judges, who are also potential investors. Each team had 35 minutes to present before being grilled on all aspects of the endeavor. By the end of the session, teams experienced more than an hour of a high-pressure, high-stakes sales meeting. On the second day of the competition, MBA candidates Jujie Hao, Pei Yu Lu, Muchen Liu, Milo Ullstad and Siqi Chen walked away victorious for their business plan for a technology company aimed at improving prescription drug label information.<\/p>\n

While preparing for the Business Plan Competition was very challenging, the students know the real-world benefits the projects have.<\/p>\n

\u201cIn a cross-functional business environment, being able to get all departments on board for a new project is the key to its success,\u201d said MBA student Sam Pincock. \u201cKnowing how to effectively communicate to each department motivates and inspires cohesion within an organization, and the Business Plan Competition definitely helps prepare us for the challenges ahead.\u201d<\/p>\n

\u201cEvery MBA class has unique and special attributes,\u201d said MBA program professor Tom Dowling. \u201cI was very impressed by how well these students took on such challenging commercialization projects, quickly grasping the complexities and possibilities of innovative breakthroughs. This year\u2019s class never backed down from the challenges they faced week after week, and they should be proud.\u201d<\/p>\n

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A huge thanks to this year’s team of judges and mentors!<\/figcaption><\/figure>\n

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Last Friday, nine teams of MBA students in the Commercialization and Clean Technology tracks competed in the 12th Annual MBA Business Plan Competition. The two day event brought 16 business leaders from around the state to Oregon State\u2019s campus to judge the competition and to serve as mentors. Each team was tasked with creating a … <\/p>\n

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