New Delhi, October 30, 2008: PepsiCo, one of the world's largest selling Food and Beverage Companies, had announced the second edition of its unique initiative called 'Taste the Success – Become Indra's Advisors' challenge for management students in India. The emerging winners will get an opportunity to present their case study to Indra Nooyi, Chairperson & CEO, PepsiCo in New York along with a Pre Placement Offer (PPO) at PepsiCo while the runners up will get a cash award of Rs 1,00,000/- and Pre Placement Interview (PPI).
The competition has been divided into two rounds, the first being the newly introduced Business Simulation and the second, a Case Study Contest. A game of Business Simulation – a virtual battle of brains, which truly tests the participant's acumen in handling business related challenges, witnessed 582 entries. After a grueling round, winning hands down was Markarax, the three member team from IIM, Lucknow closely followed by The uncouth, from IIM, Kozikode and the third position was taken up by Tequilla, the spirited team from IIM, Indore. The participants were required to strategise and take real business decisions impacting the growth of their virtual organizations. The winners from IIM Lucknow got a strong start and continued to dominate, based on their successful strategy, strong marketing mix and a cost benefit model. The team gave relevant emphasis to constant innovation and high product quality which further strengthened their sales figures taking them to the first spot. The Markaraz team stands to receive Rs. 50,000 cash prize plus PPI.
Commenting on their win, members of the winning Markarz team said - Chittaranjan Mishra, Ashutosh Bhatt and Ankit Dhingra, 'The factors that made our business model outperform our nearest competitors by an enormous margin of nearly 114 points, were essentially a result of intense heated discussions and a sound understanding of the three scenarios and their underlying details. We are grateful to Pepsi for giving aspirants like us the opportunity to learn the on-spot nuances of a business'.
The Case Study category aptly titled "PepsiCo: The Corporate Citizen" revolves around the belief that corporations today are intrinsically connected to the community and world around it, and have a clear responsibility to help enrich society. The winners of this category stand to win Rs. 50,000 cash prize plus PPI (Summer Internship for First Year Students). Cumulative winners will get to present their case study, to Indra Nooyi, CEO and Chairman, PepsiCo at New York plus a PPO and runners up get Rs. 1, 00, 000 plus a PPI
Speaking about the initiative, Mr. Pavan Bhatia, Executive Director- HR, PepsiCo India said, "The success of the B-school contest that we had launched earlier this year gave us immense confidence to take the initiative forward to the next level. The tremendous response that we received from the management students last time clearly showed that the students are always on a look out for such opportunities and innovative mediums to prove their talent."
He further added, "While such contests provide management students a chance to challenge themselves with a real-time situation, it also provides PepsiCo an opportunity to engage with some of the finest brains to arrive at innovative solutions. We are extremely delighted to launch the second edition of the challenge for the B-school students and are looking forward to have a similar response like we received the first time."
Commenting on the initiative, Dr. Amit Kapoor, Honorary Chairman Institute for Competitiveness India said, "With the increasing war for talent on campus there is a need for organizations to constantly innovate and partner with academia to do things differently that help capture larger mind share. This contest provides new avenues for the students who are always on a lookout for various platforms to showcase their business sense, creativity and talent. The case studies that we received last time were truly amazing and I look forward to more brilliant work this time as well. The fact that this involves presenting the case study in person to Indra Nooyi makes the prospect even bigger for the young minds of India."
The management institutes that participated in the challenge were the 6 Indian Institute of Management (Ahmedabad, Bangalore, Kolkata, Lucknow, Kozhikode and Indore), Management Development Institute (MDI), Faculty of Management Studies (FMS), Xavier Labour Relations Institute (XLRI), Symbiosis Institute of Business Management (SIBM), Jamnalal Bajaj Institute of Management Studies (JBIMS), International School of Business (ISB). All full-time MBA students in these B-Schools were eligible to participate in the contest. The business strategies submitted by the participants is being evaluated in two phases. The initial selection is being done by Dr. Amit Kapoor, Honorary Chairman Institute for Competitiveness India and Ms. Geetu Verma, Executive Director, Strategic Initiatives, PepsiCo India. The second round which is the final selection round will be conducted by an esteemed jury of five members comprising of Mr. Sanjeev Chadha, Chairman, PepsiCo India, Mr. Gautham Mukkavilli, President, PepsiCo India, Mr. Nachiket More, President, ICICI Foundation for Inclusive Growth, Ms Malini Thadani, Head - Group Communications and Corporate Sustainability, HSBC India and Major General- Khurana, Ex Director General AIMA and currently Secretary General Asian Association of Management Organizations.
PepsiCo (NYSE: PEP) is one of the world's largest food and beverage company, with 2007 annual revenues of more than $39 billion. The Company employs approximately 185,000 people worldwide, and its products are sold in approximately 200 countries. Its principal businesses include: Frito-Lay snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices and Quaker foods. The PepsiCo portfolio includes 17 brands that generate $1 billion or more each in annual retail sales.
PepsiCo entered India in 1989 and has grown to become the country's largest selling food and beverage company. One of the largest multinational investors in the country, PepsiCo has established a business which aims to serve the long term dynamic needs of consumers in India. The group has built an expansive beverage, snack food and exports business and to support the operations are the group's 43 bottling plants in India, of which 15 are company owned and 28 are franchisee owned. In addition to this, PepsiCo's Frito Lay snack division has 3 state of the art plants. PepsiCo's business is based on its sustainability vision of making tomorrow better than today. PepsiCo India's commitment to living by this vision every day is visible in its contribution to the country, consumers, farmers and people.
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As a part of the initiative, PepsiCo India has also invited the first year students from the top B-schools of India.
The case study revolves around one of the burning issues of the day, not only for PepsiCo but for the entire corporate sector, namely, the dynamics of corporate social responsibility. The case study is therefore, aptly titled as "PepsiCo: The Corporate Citizen". It includes details of how PepsiCo has evolved and tackled the issue over time and would draw comparisons with other corporate giants. The participants are challenged, therefore, to understand the picture in its totality and to then recommend the way forward. The case study is a tool which would bring to fore the short term and long term decision making skills as well as the creative bent of mind of the participants.
All full time MBA students in these B-Schools will be eligible to participate in the contest. The process: