Ericsson (NASDAQ: ERIC) and Boston University School of Management will host the Third Annual International Tech Strategy Business Case Competition on March 28 and 29 at Boston University. Uniquely qualified students from top business schools around the world will engage in an intense, 24-hour competition, worth $47,500 in prizes, to solve a real market challenge facing leading telecom operators in the fast evolving world of multimedia.
Carl-Henric Svanberg, President and CEO, Ericsson says: "These bright business leaders of tomorrow not only represent the most prestigious business schools from around the world, but also the most engaged and influential demographic driving mobile multimedia adoption. Ericsson's consumer research clearly indicates that young adults between the ages of 19-34 are the main force driving mobile data services. We are pleased to join with Boston University School of Management, one of the premier business schools in the world, to challenge these students with real industry issues and deliver a unique, borderless competition that enables students to tackle the transcendent possibilities mobile broadband technologies enable."
The MBA students will have 24 hours to build a case for a comprehensive solution within the general subject area of the converging multimedia industry. Ericsson and Boston University will gain valuable insight into "next-generation" opportunities and strategies for telecom operators and vendors, and the winners will walk away with $25,000 and a personal invitation from Mr. Svanberg for an on-site visit to present their plan.
Louis E. Lataif, Allen Questrom Professor and Dean, Boston University School of Management says: "Ericsson's global leadership in mobile broadband and telecom services is transforming the way the world communicates. As a world leader in management education, we are delighted to collaborate with Ericsson to provide this opportunity to the best up-and-coming MBA thought leaders. These are students who understand the transformative power of technology in business around the world. The caliber and diversity of MBA students participating this year are unprecedented."
Hans Vestberg, Executive Vice President and CFO, Ericsson, representing Ericsson at the Third Annual International Tech Strategy Business Case Competition says: "For global companies like Ericsson, the capacity to access global talent, put it to work on meaningful tasks and open windows into cultures and markets all over the world has never been more crucial." Vestberg continues, "Technology is borderless. These MBA students - whose average age is 26-fall into an important peer group we call 'digital natives,' having been raised during the excitement and explosion of an all-communicating mobile and Internet-enabled world. They have experienced technology and its capabilities much more innately than those that have come before and after them because of the role their formative years played in fostering usage and adoption. These are the minds that have invented the language we use to describe a connected lifestyle and are the same minds that will lead us into the future."
Prizes are $25,000 for first place; $15,000 for second place; $5,000 for third place; and $2,500 for fourth place. Executives from the industry will hear and judge all 16 presentations to determine the top four. Executives from Ericsson will judge the final four teams to select the winners.
Competing schools are Boston University School of Management; EGADE Tecnologico de Monterrey, Mexico; Eller College of Management at the University of Arizona; Harvard Business School; Hong Kong University of Science and Technology; IESE Business School at the University of Navarra, Spain; Indian Institute of Management, Calcutta; Kellogg School of Management at Northwestern University; Kenan-Flagler Business School at the University of North Carolina, Chapel Hill; London Business School; McCombs School of Business at the University of Texas at Austin; Queens School of Business, Ontario, Canada; Seoul National University, Korea; Sloan School of Management, Massachusetts Institute of Technology (the 2007 winners); Stanford Graduate School of Business; and Stockholm School of Economics.
The four-member teams are collectively the most diverse participants in the history of the event. Hong Kong University of Science and Technology is sending an Italian, a German, an American, and a Chinese (the other Chinese participant will be coming by way of Mexico City). Kellogg School of Management will deploy a Turk, a Korean, an Iranian and an Indian. The Indian Institute of Management is sending an all-Indian team-though they'll be outnumbered by Indian nationals coming from Boston, Stockholm, Texas, North Carolina and Illinois. The team from Stockholm School of Economics includes a Lithuanian, an Italian, an Indian and an American. For real-time information on the case competition, please visit the event blog at www.casecomp.blogspot.com.
Ericsson is the world's leading provider of technology and services to telecom operators. The market leader in 2G and 3G mobile technologies, Ericsson supplies communications services and manages networks that serve more than 185 million subscribers. The company's portfolio comprises mobile and fixed network infrastructure, and broadband and multimedia solutions for operators, enterprises and developers. The Sony Ericsson joint venture provides consumers with feature-rich personal mobile devices.
Ericsson is advancing its vision of 'communication for all' through innovation, technology, and sustainable business solutions. Working in 175 countries, more than 70,000 employees generated revenue of USD 27.9 billion (SEK 188 billion) in 2007. Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is listed on the Stockholm, London and NASDAQ stock exchanges.