A team from Lancaster University Management School (LUMS) has excelled at a leading international business competition.
LUMS students, Juhee Dubey and Mu-Chen Lin, came second in their division and had the second highest score in the graduate league of the prestigious Family Enterprise Case Competition (FECC), held at the University of Vermont in the United States.
Nicknamed the ‘World Cup’ of case competitions, the students travelled to Vermont to compete against 24 teams from some of the best business schools across 13 different countries.
Juhee Dubey and Mu-Chen Lin are postgraduate students who took the Family Enterprise Management course as part of their Masters in Entrepreneurship, Innovation and Practice.
Mu-Chen Lin said: “It was truly a wonderful experience competing in the FECC. I not only could use the theories we learned in class, but could also apply them practically to help resolve conflicts in family businesses.
“Throughout the competition I improved tremendously. I have become more confident presenting in front of people, I have become a better problem solver, and I have become a better thinker in terms of the depth of my questions and answers.”
Now in its third year, the FECC is the only global competition focused on issues that impact family businesses. The aim of the competition is to encourage students to apply the theory they have learnt in the classroom to solve complex family business cases.
The students completed three rounds of case studies, each concerned with a specific set of managerial challenges for family firms. These challenges ranged from corporate governance to succession issues in family businesses.
At each stage the team presented their solution to a panel of judges – academics, consultants and business practitioners – who determined which group best understood, analysed and presented the case.
Juhee Dubey achieved the ‘Best Presenter Award’ in the graduate league for the “depth of analysis, conviction and grace” of her presentations.
Dr Josip Kotlar, who coached the team, said: “Taking part in the Family Enterprise Case Competition was a great learning opportunity for our students as well as for me as a coach. During three tough rounds of competition, the students had four hours to read and analyse a case study, with no internet access or any other help.
“The Lancaster team particularly emerged for its theoretical rigour and ability to develop creative yet applicable solutions. This result certainly contributes to establishing LUMS’s Centre for Family Business as a leading institution in family business research and education.”
Based in the Department of Entrepreneurship, Strategy and Innovation, the Centre for Family Business is an internationally recognised research-led unit at LUMS.
More information about the Centre for Family Business is available by visiting Centre for Family Business website.