What is an MBA case study competition?

Case competitions are a rewarding experience within MBA programs. It involves teams of students analyzing a business scenario and explaining how they would respond to it. Each team then presents their plan of action in front of a judging committee. The business scenarios are normally based on situations faced by real companies.

Business schools often make case competitions part of their MBA curriculums. They are a great way for students to apply the skills they’ve learned in the program. Rather than simply learning new business concepts, students can begin to understand how those concepts apply in a practical setting.

Case competitions also take place outside of MBA programs. Some universities run case competitions where the winning team could earn a scholarship to the school. There are also a number of international case competitions that are open to anyone and offer cash prizes to the winners.

Because case competitions are typically team-based, they are a great test of your teamwork and leadership skills. They also challenge a student’s analytic, strategic, and communication skills.

Limits of case competitions

Although case competitions are a great way to test your business acumen, they also have their limits. 

For example, they only test your ability to analyze a single situation. Your response is assessed by judges, but you don’t get to see the consequences of your actions. You can only theoretically say what you would do, rather than seeing what would actually happen.

It’s partly why business simulations have emerged as an alternative. In these challenges, students use a simulator to respond to changes in real-time. It is more practical and time-sensitive than a typical case competition. Students can see the effects of their decisions first-hand and must respond accordingly.

Case competitions have been central to MBA programs for a long time, and with good reason. However, business simulations could be considered more realistic and closer to real life.

What is an MBA business plan competition?

A business plan competition challenges participants to develop a new business idea from scratch. They must think up a concept, draw up a business plan, and then present it to a panel of judges.

Rutgers Business School in the United States has been running a business plan competition for more than 20 years. Doug Brownstone, the school’s Assistant Professor of Professional Practice, stresses how their business plan competition differs from a case competition. “We’re really looking, and the judges are really looking, for what businesses can really make it into the world and be successful,” he says. (00:03)

While a case competition requires students to solve real-world business scenarios, a business plan competition challenges a student’s entrepreneurial skills. It is not simply a case of outlining what you would have done in a business scenario. Instead, you must think up a fresh new business idea and back it up with a detailed business plan. This plan should include elements such as a:

  • Market Analysis
  • Competitive Analysis
  • Marketing and Sales Plan
  • Financial Plan

 

Business plan competitions tend to offer more than a cash prize or scholarship. For example, the winners of the Rutgers Business Plan Competition also receive mentoring and guidance from business experts to help launch the business.

As Doug outlines, a business plan competition is not simply theoretical: “This is real life. This is a real business plan for real businesses that are starting up.” (03:11)

What are the advantages of a business plan competition?

It challenges your entrepreneurial skills

While a case competition requires strong teamwork, leadership, and strategic skills, a business plan competition challenges your entrepreneurial skills. You must develop an innovative new idea and outline the problem it would solve using a rigorous business plan.

It’s more practical

A business plan competition is a more practical test of your business skills than a case competition. Rather than saying what you would have done in a certain scenario, you have to prove to the judges that you have come up with a workable business plan.

It offers greater rewards

While case competitions are a good test of your business acumen, a business plan competition can lead to a greater reward at the end of it. Competitions like the one at Rutgers not only offer a large cash prize, but also mentorship and guidance. They can act as a springboard for fledgling startups to become viable businesses.

Are business plan competitions the future of MBA programs?

Business plan competitions test different skills than case competitions. They are more practical and detail-oriented, but also tend to take place over a longer period of time. Because of these differences, they can both coexist within the same program. Business plan competitions could be used as part of MBA entrepreneurship modules, while case competitions form part of the core curriculum.

Although both competitions can prepare students to take on business challenges, neither is a replacement for real-world business experience. That is the true test of a student’s business acumen, and is unlikely to change anytime soon.

If you want to learn more about studying an MBA in the United States, feel free to reach out to one of our US based MBA ambassadors.