Are you looking for innovative ideas that can contribute to your business environment? If you answered yes to those two questions, organizing a Global Case Competition might be the right direction to choose.
The number of participants in Case Competitions is growing every year as the competitions are becoming increasingly popular, not only between the students, Universities, and case solving teams but also among companies of any size. The growing popularity comes from use in the hiring process, where participants can show their talents, skills, and ability to work in teams.
Difference between Global and Invitational Case Competition
There are two possibilities when hosting a Case Competition. It might be open for participation only for the selected target group, which receives an invitation. Or, On the other hand, by anyone else, who is interested in being part of such a contest. In that setting, the case competition is referred to as open.
What can it bring to my business ?
Being a part of a Global Case Competition brings many positive aspects to the running of your business. From discovering new talent to company innovation and brand promotion.
One of the main reasons why companies are being part of the Global Case Competitions is the participants themselves. That means the advantage is the possibility of finding new employees or interns. On the basis of submitted assignments and subsequent defense, you as an employer have the opportunity to see what the students are capable of, their talents, the way they apply their knowledge and experience to the real problem, the ability to work under time pressure, and how they perform in teamwork.
Make a team work
Working in teams has become an integral part of everyday business life. Some of the companies approach the case competitions as a part of the internal employee’s education. According to Hans Henrick Beck, the co-founder and managing partner of QVARTZ, many companies struggle with the unnecessarily long solution time for the smaller business problems and assignments, just because they don’t know how to work in teams. The case solving process is an effective tool for teaching your employees to work in teams.
A new angle of view
If you are a company, struggling with your current market share, decreasing sales or you are overcoming any different business obstacles, the Global Case Competition might be the right way to get out of this unfavorable situation. Alongside the solutions, new business ideas, recommendations, and suggestions, the participants will provide you with a different sight on the formulated problem. New innovative ideas might come your way, as people from many different cultures and educational backgrounds will solve the given case.
Spreading of the brand
Let’s take a closer look at the word “global”. To attract participants, a well-planned promotion plan is needed. Gaining entrants is one thing done by the plan, but spreading the company’s name to the world, building brand awareness, and boosting engagement on your social media and webpage is also a goal that can be achieved.
Now it’s time for you to consider whether being part of a Global Case Competition is the right choice, but we can assure you that with our Innoflow platform, it will be even easier for you to freshen up your company.