JGSOM Students dominate 2005 L'Oreal Strategy Competition
Student teams from the John Gokongwei School of Management (JGSOM) placed first, second, and third among Philippine teams participating in the L'Oreal 2005 e-Strat Challenge, a worldwide business strategy on-line competition for management students sponsored by L'Oreal, the Paris-based cosmetics company.
First place went to Team ImpossibleIsNothing, composed of Management Engineering students Mario Co, Kristine Anne Banez, and Fiona Marie Ochoa. Each of them was awarded a certificate of merit, a three-day stay at Boracay, and L'Oreal products. The team also gained the distinction of getting the third highest score among all undergraduate teams from the zone that included India, Singapore, Malaysia, Thailand, Indonesia and the Philippines.
Meanwhile, Team Stratmen, with Management Engineering students Ryan Peralta, Kenneth Chua and Fred Yang, received second place. Team elements, made up Legal Management students Shelly Lim, Marvin Guerra and Jacinta Bernadette Rico, placed third. Members of teams placing second and third were given certificates of merit and different prizes.
The awarding ceremony, attended by the awardees, invited SOM faculty and L'Oreal Philippines officers, was held last March 28, 2005 at the L'Oreal Philippines offices at Robinson's Equitable Tower in Ortigas Center. The program was hosted by L'Oreal's Carmel Valencia and Arvin Crisol, both Loyola Schools alumni.
L'Oreal Philippines Managing Director David Ennes presented the awards. Mr. Rudy Ang, Dean - JGSOM, received recognition plaques as home school of all three winning teams. Mr. Ang thanked L'Oreal for the opportunity for JGSOM to benchmark itself with other top-ranked business schools in the country and the region and come out triumphant.
Played over a period of two months, the contest required teams of three members each to direct a cosmetics company with an international portfolio of products, devising business strategy and competing with virtual companies that respond to their every move. Participants went through five rounds of decision-making on various aspects of management, keeping score on resulting corporate share values.
The competition started with 16 qualifying Philippine teams from 84 entrants from various schools. Of these 16 qualifiers, 12 teams were from JGSOM, and one each from UP School of Business Administration, Ateneo Graduate School of Business, De La Salle Graduate School and UP Graduate School. In the end, ten teams survived with the first five country rankings held by JGSOM teams.
This
article was written by Mr. Art Valencia, Faculty Member – Department of
Leadership and Strategy.