Current MIM student wins 2nd place at the Finale in Paris!
Over the last few years, business school case competitions seem to be more popular than ever before. These case competitions take place over several hours or a few days, and involve a theoretical or real-world business problem being presented to contestants. Students from different Business Schools must collaborate to solve them, teaching them to make decisions in a high-stakes business environment. Teams from top business schools generally compete against others making for a dynamic competition in front of a panel of judges.
As you may have already heard, IE Business School gives students the opportunity to engage in exciting extracurricular activities. Ultimately, engaging in this competition is a good way for IE Business School students to gain a wider perspective of the business world and make the best out of their MIM experience.
This year, the finale of the Morningstar Global Case Challenge took place in Paris on April 17th 2018 – the second edition sponsored by Morningstar. The main difference between this competition and others is that this competition takes place over 10 weeks in a virtual environment, with teams comprised of three students from several business schools. The kick-off of the 2018 competition was January 22nd 2018 and carried out in association with IMMA – the International Masters in Management Association – with six of the seven member schools from the consortium, including IE Business School, participating.
The teams were comprised of three select students from the six schools, with each school nominating the students and a faculty mentor, mimicking a realistic task-based working environment. Students were responsible for working collaboratively across international borders by leveraging all available technology.
We recently caught up with Lorenzo M. Zorzi Chiarioni to ask him about his experience as one of the three selected participants representing IE’s MIM program in the competition. Congratulations to Lorenzo, as his team took second place in the competition
Here are some exclusive insights about this experience:
Q: How did you feel working with people from others schools?
This was the most interesting part, because when you are studying in a MIM you get the feeling that you are in your own micro cosmos, so meeting students studying in a similar atmosphere but pursuing their degree in another language and country gave me the sense of belonging to a wider global community. Some students had similar ways of tackling the case and then others were completely different to what I expected.
Q: What was the experience like?
My team had three members and we were each from a different school. One colleague was from India studying at ESCP in Berlin and the other one was Chinese-Canadian studying at Queens University in Canada but on exchange in Europe. Our mentor was from a 4th school – Singapore Management University. I worked on this case for 2-3hours per week with my team, having bi-weekly calls with mentor our mentor in Singapore at 7am and contacting with our internal reference at Morningstar who was the Head of Data and Retirement Products.
Each team had to research and present an answer to the same questions for one client, Morningstar. The question was about how Morningstar can deploy blockchain technology to improve its business model. Our team’s proposed solution included decentralization and the elimination of intermediaries. We were selected to attend the finale and I arrived in Paris on April 17th. The event started at 12:30 with a networking event and lasted all afternoon. Each team had 30min to present and then we all stayed until the winning team of the competition was announced – unfortunately not ours.
Q: What was your favorite part about the competition?
I loved traveling to Paris and getting to know the people I had been working with for the past 10 weeks. It was a concrete culmination of an online process. We also got to meet our mentor who flew in from Singapore to see us present – no other mentor did this – it was a great feeling!
Q: What is your key takeaway from the challenge?
I learned to manage my time responsibly, and above all, I participated because I was interested and wanted to be involved with the question related to the applications of the blockchain technology. I am a blockchain advocate, part of the IE Blockchain Club and trying to start a venture in this field. Had I not been interested I would not have produced the quality output to get to the final in Paris. I saw that the participants were not in the case challenge only to win or better their CVs but rather wanted a chance to understand something that interests them and see it’s real life applications.
Q: How do you feel completing the MIM at a school like IE helped contribute to your success in the challenge?
Definitely, the case methodology and learning to look at documents and pin point what is essential to a business and understanding that a concept and notions of a case may be applied anywhere else. So like in this challenge, when I was faced with a real world example I was able to get to the core of what Morningstar needed and find the patterns and move from there and find a customized solution. Furthermore, IE offers ample resources related to cases and consulting, such as presentations, lectures and joining the IE Consulting Club.
Q: Why did you decide to participate in the IMMA Case Competition – Morningstar Global Case Challenge 2018?
I am very interested in financial markets and Morningstar is the competitor of the firm I will start working for in September after I graduate. I felt personally attracted to a project which looked at the practical use of blockchain and the message that blockchain is not only cryptocurrency.
Q: Why is it worth it getting involved in extracurricular projects like this during the MIM?
Why would you NOT be involved in extracurricular activities? Activities enrich your IE experience and you get the chance to go beyond the requirements of your MIM degree and partake in activities that are of particular interest to YOU. It is in any case an optional additional commitment, but whatever you are interested in, chances are IE has something for you!
Insights by Lorenzo M. Zorzi Chiarioni
IE Business School – current Master in Management student Sept 2017 intake