Students from universities in India, Canada, Bulgaria, Turkey, Australia, Switzerland and Chile, along with a broad range of universities in the USA, competed in the Capsim® Fall Challenge confirming the competition as a growing international event.
Kiran Holla of the Indian Institute of Management in Bangalore (Capstone® Challenge), and Jacob Rewerts from the University of Iowa (Foundation® Challenge) took top honors in the competition from 23 other finalists.
The Capsim Challenge is held twice each year and is open to all students who have used a Capsim business simulation in their university course.
Kiran Holla is completing the Executive General Management Program at the IIM and hopes to move into the microfinance industry. He said using Capstone in his university course was "an excellent opportunity for us to apply the principles that we had learnt in theory."
"For example, we had studied subjects like sales forecasting, inventory management, corporate financing etc and Capstone gave us a good opportunity to gain further insight into the subjects.
"Most importantly, Capstone is structured as an oligopolistic market and hence "strategic behavior – decisions that take into account possible reactions of others', play a major role. This was the part we loved best. Each team needs to make intelligent guesses on how rivals would react when it contemplates expanding capacity or cutting prices etc. This is something that is best experienced practically. No amount of theoretical learning can beat this experience!"
Five of the six finalists in the Capstone Challenge were from non-American universities. Capsim's coordinator of the challenge, May Zelner, described the particular challenges for finalists in places such as India and Australia.
"It is a very intense competition," May said, "during qualifying rounds, students make a new set of decisions every day, whereas in their courses they are used to making decisions once a week and having time to scrutinize the results and collaborate with teammates. During the finals it is even more intense with Round 1 on Saturday, then Rounds 2 through 8 on Sunday.
"In India, that means Round 2 of the final begins at 3am on Monday, with six more rounds every hour after that! The students who compete have jobs, family obligations and other courses to study so their time is precious. It is so impressive to see the focus and effort they put into the competition."
Kiran Holla competed as an individual in the finals and won with 864 points out of 1000 on the Balanced Score Card. Jacob Rewerts also competed as an individual in the Foundation® Challenge and achieved 756 points out of 100 on the Balanced Score Card.
This was the 18th Semi-Annual Capstone and Foundation Challenge hosted by Capsim. May said "the students give it their all, it is such a pleasure to work with such an impressive group of future world business leaders."
"I joke with them about their success, but I honestly won't be surprised to see one of them on the cover of Forbes Magazine one day."
The winners of the competition, followed by their university and teacher are:
Finalist results from Capsim's Fall 2009 Capstone® Challenge:
First Place: Kiran Holla. Indian Institute of Management, Bangalore. Professor Dharam Pal
Second Place : Glenn Karr, Arthur Berdichevsky, Rob Tetrault, Dustin Springett. University of Manitoba. Dr Parshotam Dass.
Third Place: Paul Provost. Sam Houston State University. Dr Jo Ann Duffy.
Fourth Place: Anubhav Bansal, Gopal K Garg. Institute of Management Technology, Nagpur. Professor Dharam Pal
Fifth Place: Dmitriy Bykov. Sauder School of Business, University of British Columbia. Paul Cubbon.
Sixth Place: Tang Quoc Dinh. Curtin University of Technology. Professor Kyle Bowyer.
Finalist results from Capsim's Fall 2009 Foundation® Challenge:
First Place: Jacob Rewerts. University of Iowa. David Hensley.
Second Place: Christian Mosley. Baylor University. Blaine McCormick.
Third Place: Sam Applebaum, R. Scott Freeman, Robert Dodge, Steven Pon. Drexel University Sacramento Center of Graduate Studies – LeBow College of Business. Professor Paul Stewart.
Fourth Place: Chris Farmer, Jordan Smith, Frankie Linehan, Alex Clark. Brigham Young University Idaho. Mike Whiteside.
Fifth Place: Tyler West. University of Kentucky. Josh Marineau.
Sixth Place: Tu Tran, Austin Church. University of Texas at Arlington. Dwight Long.