Corvinus students won first place in one of the most prestigious international business case competitions organized by the American Cornell University at the beginning of November.
Corvinus University's student team successfully competed among 127 teams from 49 of the world's best universities and almost 600 MBA and master's students at the Cornell University Emerging Markets Institute case competition.
The Hungarian students entered the finals on November 3 as the only Europeans, along with two American and two Indian teams, the Corvinus team thus became the first European team to win the international competition in the competition's seven-year history; the victory also included a prize of 6,000 dollars, they said.
The members of the Corvinus team were graduate students of the Management and Organization master's course: Adél Hadházy, Luca Horváth, Tamás Józsa and Gergely Keményfi. The team's mentor was Balázs Felsmann, associate professor at Corvinus.
According to the tender, the participating teams had to provide a strategic and operational development solution for a state-owned company in the Brazilian semiconductor industry. In the Hungarian team's proposal, taking into account global geopolitical, regional and company-specific factors, it recommended that the company - in addition to cost reductions - channel knowledge from external sources in exchange for production capacities. Fresh and constantly expanding knowledge enables the company to start research and development. In this way, the company can vertically expand its value-creating activities, which improves the competitiveness of its products on the global market, it was explained.
According to Gergely Keményfi, one of the team members, their solution was able to win because they spent months preparing for the competition, and had to see many industries in just a few days. Everyone in the team was extremely motivated, their cooperation was characterized by continuous cooperation, curious research and the exploitation of creative ideas.
"I am very proud of the students, they achieved a fantastic result and once again proved the international competitiveness of the knowledge that can be obtained at Corvinus"
- said Balázs Felsmann, the team's mentor, associate professor at Corvinus. He added:
"Business case solving plays an important role in both our undergraduate and master's programs, and for the students, these are combined into separate subject groups. It was a pleasure to see how well our team members combined the theoretical and practical knowledge acquired in our training in their solution."
Corvinus/MTI
Featured image: uni-corvinus.hu
