More than 175 undergraduate and graduate students dedicated their time and energy to demonstrate their business skills to 55 judges. The teams were tasked to analyze a real-world business case, develop a problem-solving approach, and prepare their recommendations. They were then given ten minutes to present their case and recommendations, followed by a question-and-answer session with the judges.
Scores of books have been written on the topic of leadership, and here are a few observations from the case competition to add to the list:
“Grace under pressure” is an underrated characteristic of good leaders
During the final round of presentations, one team had serious technical difficulties with their presentation. Although the slides were projected on the screen, the images on the slides were not.
The undergraduate team members did a great job of staying calm and continuing through their presentation despite the snafu. Maintaining your composure can be very effective even in the most challenging situations.
Experience doesn’t always trump hard work
Without prior knowledge of the company, its products, or the market and business situation, students immersed themselves in solving the problems defined in the case. With only 45 hours to dissect the business case and prepare their recommendations, the teams demonstrated insight and knowledge in their presentation to the judges.
It was clear that most of the participants had pulled all-nighters in order to compete while still maintaining their typical course load.
I recently hiked two 4,000-foot peaks in the White Mountains. This may not seem like a big deal to many – unless you’re afraid of heights like I am.
Regardless, I decided to join in on a trip to the White Mountains, thinking, “How difficult could this be”? I learned there’s a big difference between walking or running seven miles and hiking seven miles!
Call it blind faith or dumb luck, but we made it there and back – and learned a few things along the way.
Lesson 5: Celebrate Your Wins
When we reached the top of the first peak, a fellow hiker opened his backpack and cracked open a bottle of Moet champagne. Although he had been through these mountains many times before, he realized that for many of us, this was our first time. We raised a glass and celebrated our first victory as we moved cautiously downhill to the second peak.
Lesson 6: If you’re Not Prepared, Improvise
Ignorance is bliss, and traveling with experienced hikers is the way to go. In retrospect, I probably could have been more prepared for the “simple seven-mile hike in the White Mountains”, but we improvised along the way. My fleece jacket became a towel after a while (we were thoroughly drenched from start to finish). I borrowed two walking sticks from another hiker (he had brought an extra pair). The phrase “tree hugger” took on a new meaning as I grabbed every branch in sight and slid down a 45-foot incline.
Lesson 7: When in Doubt, Keep Going
Throughout the day, turning back never occurred to me; in retrospect, we only stopped twice. Some of my fellow hikers sometimes questioned daylight availability and argued about which paths to take. I was a bit nervous when the compasses came out, but we appeared to stay on course. There was a critical point where we might have retreated and called it a day – the point of no return, but we didn’t.
Lesson 8: Never Underestimate How Long Things Take
The guidebooks estimated that our trip should be completed (under normal conditions) in six hours, and it took us nine hours. When we started, we didn’t understand all the variables that would affect our progress: fog, rain, slippery terrain, eroded trails, and slower hikers. When we returned, our friends were about to contact the state police to report us missing. Would we do it again? Sure. And this time, we’re so much wiser!
Which of these lessons sound familiar to you? We’d like to hear what you think!
I recently hiked two 4,000-foot peaks in the White Mountains. This may not seem like a big deal to many – unless you’re afraid of heights like I am. Regardless, I decided to join in on a trip to the White Mountains, thinking, “How difficult could this be”?
I learned there’s a big difference between walking or running seven miles and hiking seven miles!
Call it blind faith or dumb luck, but we made it there and back – and learned a few things along the way.
Lesson 1: Start with a Committed (and Experienced) Team
I knew that I would be with hikers who were more experienced than I was – one of our companions was looking to complete his list of “4,000’ Peaks Climbed”. In fact, the reason that I had signed up for this hike was to join a friend of mine – a nice way to spend a Saturday, right? When we arrived at the trailhead, it was cold, damp, foggy and rainy. Two of our members (including my friend) opted to stay back and enjoy a warm fire and lunch and drinks at a nearby restaurant. I decided to continue on and do the hike with 6 other strangers. After all, it was only seven miles, the rain had stopped and I figured we’d be home before dinner.
Lesson 2: Be Ready for the Pitfalls
Each hiker shared thoughts about the upcoming adventure as we prepared for our journey. The experienced hikers talked about routes, rain, wind, and fog. The novices (like me) talked about bathroom facilities, warm clothes, and lunch. We were all anxious to get started. Little did we know what was ahead of us. John Assaraf of “The Secret” fame describes the road to achievement and self-development much like driving a car in the dark: you may not be able to see what lies beyond the range of your headlights, but as you come closer, you can see more clearly. We were ready.
Lesson 3: Take Things as They Come
We planned to cover two 4,000 foot peaks in the White Mountains: Mt. Osceola and its counterpart, East Osceola. We scaled the first peak and forged ahead. Stepping over rocks and trying to stay on eroded paths, we encountered unpredictable trail conditions. At each turn and elevation, the terrain presented a new challenge (especially for the novices in the group, like me), and we plodded along, chattering the entire way. I noticed that when the chatter stopped, the terrain became more treacherous – a sign that we needed to pay more attention to what was ahead.
Lesson 4: Find Your Own Pace
The hiking group included novice and seasoned hikers alike. As time went on, the more seasoned hikers trudged ahead of the rest of the group, acting like scouts who returned to report what was ahead. It was not unusual for others in the group to drop back and wait for those of us who moved more slowly across the challenging terrain. We developed a kind of rhythm throughout the day, with smaller groups moving together, each at our own pace.
Have you conquered a challenge and applied it to business? What sort of business lessons have you learned?
