Much was expected from Sivarama Raman, Andrew Scheffel, Adriana Sierra and Sridhar Vashist as they entered the 6th annual MEMPC PriSim Business War Games Competition knowing Northwestern’s previous successes in 2016 and 2017; and they didn’t disappoint! Competing against fellow MEMPC schools that included teams from Cornell, Dartmouth, Duke, John Hopkins, Purdue and USC; Northwestern was able to win one of the most challenging competitions yet! In addition, each winning team member was awarded a $300 Amazon gift card.
The competition simulates an automotive company and challenges teams to make strategic business decisions based on market and economic trends synthesized by PriSim. It fast-tracks real-world complexities and decisions that companies take in cut-throat businesses, making for an immersive experience.
Following is Team Northwestern’s testimonial of their experience:
“The inter-collegiate competition was a great way to get deeper into the nuts and bolts of managing a company. Our team was composed of members of teams who had competed against each other in MEM 402 during the fall quarter, so we had the opportunity to bring together multiple perspectives and best practices to the table. This aspect underlined the importance of bringing together disparate views, personalities, and opinions in a way that can be mutually constructive as opposed to destructive when it comes to building teams.
During the simulation, we were reminded that things don’t always go according to plan. Once, we assumed we had identified an opportunity to exploit the market with the release of a new product, only to realize that the market did not behave according to our analysis. For me, the takeaway was to constantly challenge assumptions and identify measures to mitigate risk. As success and experience piles up, though, it’s easy to let hubris take the wheel and lead to quick decisions rather than deliberate, informed ones.
Overall, it was a pleasure to take part in another PriSim competition and I look forward to applying the lessons I’ve learned in my career. “