The foremost management institution has added another feather to its cap. BIBS has come up with a unique USP or Ultimate Startup Plan competition. Here different business plans are going to be showcases among the students and the judges will then select the best one among them. The business plan plays a unique role in helping a business get started and this will help the students to think in innovative ways so that they can reach for the sky. This unique competition helps give the students the required edge that makes them better leaders and managers.
Management Education Builds Entrepreneurs:
It is common knowledge that management education aims to create businessmen and not merely employees and this is the only way in which there can be a rise in the number of entrepreneurs. Thus, a robust and clear business plan is the only thing that can help people to become entrepreneurs in the most effective way and this gives them the expertise to handle their own organizations.
This trend confirms the maxim that management leaders are made and they are not born. This is because management leaders have to make absolute and meticulous use of their business plans so that they can help their startups grow to great heights and achieve the highest levels of success.
It is through such facilities and activities that BIBS aims to create entrepreneurs in the field of global business. This effort has helped in safeguarding its position as the most innovative business school of India. This is how we can infer from the above data that management education creates entrepreneurs.
A Note on The Judges:
There are five members in the panel of judges who are experts in the field of finance and commerce. They have the experience of more than three decades and know exactly how to identify a successful business plan form the vast sea of students. This gives them the expertise to select candidates based on their skills and innovativeness in vision. A couple of members of the jury have even turned around businesses that were running in losses and have made these businesses into highly lucrative and successful ones.
Tips by Two Judges:
According to Sanjay Mansukhani, a good business plan includes a taste of the real world, it should be innovative in order to grab attention at the very first phase and most importantly, one should have an idea of the target customers and the competitors. He suggests that students should not take much time in the presentation, it should be concise and to the point so that the entire plan is understood in a few minutes.
Rahul Upadhyay, who is one of the other judges, also gives his insights. He says that a good business plan must include a mission statement, the team, the key aspect of your business, detailed market analysis, market penetration strategy, sound financial plan and exit strategy.
The Six Finalists:
The six finalists of the USP competition vary from a paying guest accommodation service to a crèche meant for toddlers. There is also a stain cleaning service, a mobile home, sports services and help for the visually impaired.
BIBS Your Destination for Management Studies:
This unique competition that has been organized by Bibs has ensured that it stays at the top as far as business schools are concerned and this has made it the most desirable destination for management studies. These activities are both educational as well as entertaining and go a long way in ensuring the all round and holistic development of people who seek to become successful managers and leaders.