“Business24h” is the largest annual business simulation competition for high school students in Latvia. The competition is organized by the Student Self-Government of the BA School of Business and Finance (BASP) in cooperation with the BA School of Business and Finance Tet, Nordic Group and the Latvian Investment and Development Agency (LIAA). On February 4, the 1st round of the competition “Business 24h” 2021 took place.
Approximately 700 high school students and students from all over Latvia took an active part in the competition, creating solutions for the Tet case study situation in the first round to find out which 300 most successful and skilled participants will continue to fight in the 2nd round. For twelve hours, participants analyzed the information provided during the live broadcast to offer their solution. All the ideas developed and proposed by the bidding teams were handed over to the Tet representatives during the case study, so that the company could get acquainted with them and evaluate their implementation.
Viktor Toropov, Director of Corporate Development at Tet: “As a company, Tet has always been open to collaboration with academia, so we believe that ideas generated by young people are a valuable vantage point for inspiration to create new products.”
The case study method allows participants to get acquainted with real information about the company’s previous business activities, analyze available information and financial data to arrive at their own unique idea for solving the problem. This method allows team members to take on the roles of company managers and consultants, simulating the strategy development process, performing real financial calculations, as well as planning marketing and communication activities. In this round, the participants’ ability to work in teams and their knowledge of entrepreneurship was tested.
The best-proven teams will continue to fight for the title of “Business Guru 2021”.