CHICAGO, Illinois (PRWEB) January 17, 2016
The 4th Annual MEMPC PriSim Business War Games Competition kicks off the first week of February. During the five-week, online competition, seven cross-university teams from top engineering schools, including Northwestern University, Cornell, Dartmouth, Duke, USC, MIT, and Stanford will participate in a business simulation where they will function as a management team running an auto manufacturing company.
The Competition is part of an overall initiative of the Master of Engineering Management Programs Consortium (MEMPC) to raise awareness for the Master of Engineering Management (MEM) degree, expand its value-added opportunities, and forge business partnerships with employers, potential job candidates, students, faculty, and to provide alumni networking.
“The MEMPC promotes the combination of professional engineering practice with core business and management education, and the MEMPC PriSim Business War Games Competition is an annual opportunity for the consortium universities to exemplify this belief through a month long business simulation event,” said Stephen Tilley, Associate Director of the MEM program at Northwestern. “Each year our students get more excited at the idea of acting as a management team and creating an effective business strategy in a simulated automobile industry environment.”
Strategic thinking is critical to the decisions made in the competition. Students will conduct an analysis of the business environment and then articulate the mission of their company. Each firm will begin the simulation with three vehicles and then will decide how to improve their performance and whether they want to design and produce new vehicles to enter new market segments.
MIT System Design and Management student Terence Teo, whose team won the competition in 2013, said his group conducted a SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats) and quickly agreed on a strategy. Choosing a niche-market approach, the team produced high-end cars at low volumes but with big margins. “We kept our focus on upgrading existing models and on introducing new vehicles quickly,” he said.
“We’re excited to once again be a part of the MEMPC PriSim Business War Games Competition,” said David Semb, a Partner at PriSim Business War Games Inc. and an Adjunct Professor at Northwestern University. “The challenges the students will encounter over the 5-week competition will mirror what they’ll see in their careers in the real world. They’ll need to make the types of decisions that senior leaders are expected to make in any successful business.”
The Competition begins the first week of February and wraps-up Thursday, March 3, 2016, when PriSim and the MEMPC will score the competition. Winners will be announced on Friday, March 4.
For more information about PriSim Business War Games, Inc. visit: http://www.prisim.com/
ABOUT PRISIM BUSINESS WAR GAMES INC:
PriSim Business War Games Inc. works closely with leading organizations to build and deliver customized business simulations. PriSim assists clients in utilizing these custom tools to develop their employees' business acumen. PriSim develops tools and materials that help clients communicate more effectively, proactively explore strategic alternatives, involve multiple levels of management in business development, and share a common model and language of business and finance. Industry-specific simulations include insurance carrier, insurance agency and brokerage, insurance branch, mortgage banking, aerospace and defense, dealership, publishing, e-commerce, and manufacturing. PriSim helps clients make better business decisions while helping them to "See things differently, think differently™".