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Bentley Students Place #2 in the US in International Business Competition
April 25, 2002
WALTHAM, Mass.- A team of Bentley College graduate students placed second in the United States in a worldwide business strategy competition, the L'Oréal e-Strat Challenge. Laura Ganley, Bashemai Canty and Alexandra Poznyak, all MBA students at Bentley's McCallum Graduate School of Business, will travel to New York City later this month for an awards ceremony.
The Bentley students, who came in 21st internationally, competed against 2300 students on 789 teams from 50 countries. The 83 teams from the United States included students from Harvard University, Stanford University and Princeton University. The other top two teams in the US were from Indiana University and University of Pennsylvania.
During the two-month online competition students managed a virtual cosmetics company, making hundreds of strategic decisions about human resources, research and development, brand management, website development and more. Students competed in six rounds against four other virtual companies, run automatically by the simulation. The winning teams were those with the highest stock price index at the end of the simulation.
"It was a great application of learning and we had a wonderful team experience," said Bashemai Canty, an Information Age MBA (IAMBA) student from Aliquippa, Pennsylvania. "I would highly recommend the challenge to any future brand managers."
"The members of our team made presentations to each other and debated over strategies and cost allocations for the different brands," explained Laura Ganley, an IAMBA student from Wyckoff, New Jersey. "We each supported what we want and challenge each other. It was a great experience."
"The L'Oréal competition puts you in a perfectly simulated business environment," added Alexandra Poznyak, an IAMBA student from the Ukraine. "It feels like you are in the senior management of a company and have to make decisions about marketing, IT strategy, brands and the brand portfolio, research and development, distribution channels, pricing strategy. We worked as a team. It takes time to discuss and agree on everything, but we did. We were in it together."
Paris-based L'Oréal S.A. has consolidated sales of 13.7 billion euros. Operating in more than 150 countries and employing more than 48,000 people, L'Oréal Group companies manufacture and market such well-known brands as L'Oréal, Maybelline, Garnier, Lancôme, Ralph Lauren Fragrances, Giorgio Armani Parfums and Matrix. Other partners of the e-Strat Challenge were Strat X, experts in design and application of marketing and business strategy simulations, and Monstor.com, the world's leading online recruitment site. For more information, visit http://www.e-strat.loreal.com.
BENTLEY UNIVERSITY is one of the nation’s leading business schools, dedicated to preparing a new kind of business leader – one with the deep technical skills, broad global perspective, and high ethical standards required to make a difference in an ever-changing world. Our rich, diverse arts and sciences program, combined with an advanced business curriculum, prepares informed professionals who make an impact in their chosen fields. Located on a classic New England campus minutes from Boston, Bentley is a dynamic community of leaders, scholars and creative thinkers. The Graduate School emphasizes the impact of technology on business practice, in offerings that include MBA and Master of Science programs, PhD programs in accountancy and in business, and customized executive education programs. The university enrolls approximately 4,100 full-time undergraduate, 140 adult part-time undergraduate, 1,430 graduate, and 43 doctoral students. Bentley is accredited by the New England Association of Schools and Colleges; AACSB International – The Association to Advance Collegiate Schools of Business; and the European Quality Improvement System, which benchmarks quality in management and business education. For more information, please visit www.bentley.edu.
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