LUBS Business Challenge

The LUBS Business Challenge is an exciting new opportunity for Business School students to develop their skills in a live business simulation.

Participant Launch Information

Please see below the recording from the Participant Launch Session. The slides can be found in the Q&A below.

LUBS Business Challenge Information Session

What's involved - At a glance!

The LUBS Business Challenge is a virtual business management simulation that is designed to bring real world business challenges to life. Students will be placed in to teams of 5 and assigned a virtual company which will compete against the other teams in a live virtual marketplace.
Over 4 weekly trading periods teams will be presented with lots of different company and market information which they will then need to assess and make a series of decisions about their business. This could be decisions around pricing, supply chains or entering new markets. At the end of each weekly trading period the decisions are fed in to the model to determine the impact of the company and it's financial performance.
As this is a live environment, decisions taken by one team can and will have a direct impact on the other teams. At the end of the trading period the winners will be determined by whoever has achieved the greatest improvement in financial performance.
Teams will have access to a helpdesk which is operated by our partners and the simulation owner, Learning Dynamics Ltd. They will also have access to a mentor who will be able to talk through the decisions with them to further enrich the experience.
The competition is limited to 100 participants.

How do I apply?

To apply, complete the application form here: https://forms.office.com/e/nijK8aZWEM

Apply Now

All your questions answered!

Click on each of the headings below to find out detailed information about the competition, its requirements and timeline.

When is the deadline to enter?

All entries must be received by 9am on Wednesday 31st January 2024.

How do I enter?

To enter please complete the form here: https://forms.office.com/e/nijK8aZWEM

You will be asked a few questions about you and your programme of study and then need to provide a brief statement setting out why you would like to take part and how you would benefit from the competition.

Who is eligible to participate?

All LUBS parented degree students are eligible to take part in the competition. Both undergraduate and postgraduate students are eligible.

When does the competition take place?

The key dates are:

Wednesday 31st Jan - Entries Close

Monday 12th Feb at 1pm - Introduction to the simulation via Teams/Zoom. Trial Trading Period Opens.

Wednesday 14th Feb - Teams announced

Monday 26th Feb to Wednesday 28th Feb - Trading Period 1

Monday 4th Mar to Wednesday 6th Mar - Trading Period 2

Monday 11th Mar to Wednesday 13th Mar - Trading Period 3

Monday 18th Mar to Wednesday 20th Mar - Final Trading Period

Wednesday 20th Mar - RESULTS!

Why should you take part?

The main benefits for students taking part in the competition are Experiential Learning and Skill Development. You will develop a deeper understanding of key business concepts through direct hands on experience. The simulation provides an immersive experience that gives you the opportunity put theory in to practice.

The key skills and competencies you will be able to develop are:

Analytical skills: Information analysis, recognition of key information and use of information to influence decision-making in team situations.

Commercial Awareness: Understanding the complexity of business. Evaluating key measures of business performance and how they impact on decision making. Identifying stakeholders and their ability to impact on business decisions and performance.

Influencing Skills: Developing the ability to influence one or more members of a team. Knowing how to influence opinions and decision-making against strong opposition. Influencing others to remain motivated when faced with adversity or failure.

Understanding Leadership: Understanding leadership style in order to gain commitment from others working as a team.

Planning and Organising: Dealing with time pressures in order to meet deadlines. Workload delegation and setting priorities.

Team working: Learning to reach a workable compromise amongst a peer group and sharing responsibility for team-based decisions. Respecting team roles and individual contributions/styles.

A results-driven approach: Understanding strategies for achieving specific business goals and performance indicators.

Financial awareness: Managing and measuring the financial performance of a business. Understanding financial statements in order to make business decisions that drive profitability.

Innovation in problem-solving: Using innovative and creative skills in solving problems relating to the business itself or the way the team works together.

Managing the customer relationship: Understanding the importance of managing customers and how poor customer service impacts on business results and competitive position.

What is expected of you?

The LUBS Business Challenge is intended to be a fun and interactive way of developing your skills and employability. You will be working as part of a team and your contribution will have a direct impact on your other team members. As such it is vital that you are fully committed to taking part throughout the whole process. All participants are must commit to the following:

They can attend the participant briefing on Monday 12th February at 1pm.
They are available to contribute throughout the whole competition as set out in the timeline above.
They are prepared to meet with their team mates to work together during the trading periods.
They will interact with their mentor as appropriate.

It is anticipated that participants will need to commit 2-3 hours per week to the competition during the trading periods.

What support is available?

Learning Dynamics have a live helpdesk that will be available to answer any questions throughout the trading period.

Teams will also have access to a mentor that they will be able to discuss the challenges with. More details about the mentors will be provided nearer the start of the competition.