Organisations are increasingly looking for ways to problem solve, leverage talent and build brands through multiple non-conventional ways. One of the ways, both product or service based organisations, are creating a buzz about the ideas and products is through leveraging the vast number of millennials that are a part of various business schools in India.
Through structured B-School competitions, organisations are defining problem statements and inviting students from the b-schools to collaborate, brainstorm, research and ideate on possible solutions. An intervention like this, allows for benchmarks to come in with superior competitor analysis and market research that allows a company to get access to data, build a connection with the audience and propel their brand and visibility amongst millennials and their peer network. India has today more than 3000 B-Schools and about 370,000 + students across specialisations enrolled (Source – AICTE statistics). With those numbers, students are increasingly looking for opportunities to upskill themselves, learn to work with real life business problems and enhance their critical thinking and research mindset. Competitions such as these help them gather such skills, get mentored by CXOs and founders of the business and collect valuable experience that comes in handy during their placements.
Potential problem statements that companies provide to these students.
- Building brand presence of a product or service on the digital media
- Devising go-to-market strategy
- SWOT analysis of the market especially when the new service/product or business is being launched
- Creating a business plan
- Consumer and Market Research
- Channel Management
- And many more…
Benefits for the organisation
- Solve key business problems with a fresh set of eyes and ears
- Get access to superior talent
- Build a brand at the campuses and with millennials. Leverage their peer network and word of mouth to increase visibility
- Engage with students on live projects thus having extra resources in critical areas of business
- Market inorganically
The attached deck speaks about the experience that some of the startups/ mid-sized organisations had in leveraging such campuses through case competitions. (Click here to view deck) Yet another way to do so is to hire summer interns that are carefully screened and mentored for roles that they can potentially take up in an organisation. We will be shortly speaking about the value that such exercise offers and benefits an organisation can derive from hiring interns with a problem-solving mindset. Should you feel that your organisation is all set to leverage B-Schools and students, do drop us a line and we will be happy to chat!