A team from the Graduate
School of Business, one of the University’s youngest units, and one of the
youngest business schools in the country, made it into the finals of the
international L’Oreal e-Strat Challenge. Beating
out 13 other teams in its region, including 8 others from
The Haifa GSBA team finished 4th, tied with the team from New York University. Business School Dean Prof. Nahum Biger called it "a fantastic achievement."
"They worked hard, long hours," Biger said in commending the trio. Prior to the Finals, a congratulatory telegram from the well-known French cosmetics firm L’Oreal, sponsors of the competition, informed the students, “You will [now] be able to shine in front of an audience of top professionals, professionals, and students from around the world at the Final Awards Ceremony. The spotlight will be on you….”
The competition received
applications from more than 8,000 teams world wide.
Of these, 800 teams were accepted, and divided into seven zones.
By the end of the fifth week and stage 1 of the competition, 215 teams
had survived. In mid-March, the
L’Oreal e-Strat Challenge Committee informed the
The team of Kahane, Grabarsky, and Wollach, like the other contestants, had simulated the management of a company with two products. They received information about the company’s market shares and distribution channels, its financial situation, costs estimates, etc. All competing “companies” started from an identical base line, and then the student management teams had to make weekly decisions, each week representing six months of business life. Referees scored each section of their business plan.
What made the three students winning material and brought them into the finals was the grand total of the education they had received, their innate business acumen, and, to quote the Challenge committee, “[their] determination to succeed, no matter what the odds.”
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