L'Oréal e-Strat Challenge is one of the world's biggest online business simulation. This international competition is open to undergraduate and MBA students in their final two years of university or business school.
In its first seven editions, the L'Oréal e-Strat Challenge has brought together over 177 000 students from 2200 schools representing 128 countries.
You and your team, consisting of three people, will manage a portfolio of beauty brands and compete for worldwide leadership against 4 other virtual companies during six rounds throughout a period of approximately two months.
You will take the role of the General Manager. At the head of a cosmetics firm, you will face new market situations and challenges during each of the six rounds. You will translate your strategy into critical decisions about all aspects of the company: pricing, production volume and capacity, research and development, marketing, advertising, brand positioning and diversity & equity... In each round, you will have more than 30 charts and graphs to analyze. You will be asked to make over 150 decisions!
Each round corresponds to a six month real time period. The four other virtual companies, run automatically by the simulation, will not only challenge you with innovative decisions but will also respond to your moves!
Every registered team will have the opportunity to participate in the first round, and then, according to their Share Price Index, 1700 of these teams will be selected to continue the adventure (rounds 2 - 5). All the teams participating in the L'Oréal e-Strat Challenge will manage PRIMA, but in a parallel simulated world, separate from yours.
Your objective is to achieve the highest SHARE PRICE INDEX (SPI) at the end of the simulation.
To learn more about SPI, click here.
You will be able to follow week to week evolution of the international, regional and national rankings.
e-Strat makes everything possible, around the world and in real time, through a highly realistic and custom-created simulation run on internet.
e-Strat was launched in 2001 and since then it has known growing success :
• The simulation has been updated every year in order to reflect new developments in the Beauty Industry.
• The number of registered students has increased with each edition.
• New business Partners have joined us: Business Week for e-Strat 3, Google for e-Strat 8.
• e-Strat can now be played in courses at universities and is therefore a recognized learning tool.
• Two years ago the L'Oréal e-Strat challenge has received the CEL accreditation from the EFMD and is now a Sustaining Partner of the AACSB.
The Ultimate Challenge!
After the 5th round another selection will take place. Only the 300 best teams (* for more details of the selection please consult the Official Rules) will be selected for the semi-finals. During the semi-finals, in addition to the 6th round, the teams will draw up a Business Plan. They will place all of their decisions into a global strategic context and explain how and why they made their strategic choices.
The International Finalist teams, the top undergraduate and MBA team of each zone (*for more details of the selection please consult the Official Rules) will win an all expenses trip to Paris to compete for the first place!
During the International Finals, the 16 finalist teams will present their Business Plan, defend their strategy and try to sell their virtual company to a jury formed by L'Oréal and other companies top executives.
The two most strategic, professional and convincing teams will win a trip to the destination of their choice worth 10.000 € !
What is new on the game?
Simulation
• New Module! Sustainable Performance module including Diversity & Equity Initiatives
The Corporate Social Responsibility has been replaced this year with a Sustainable Performance module, including employee benefits, environmental and Diversity & Equity initiatives.
You will have up to 28 initiatives to choose from to develop a long term sustainable development strategy over the six rounds of the business game.
A question on sustainable development will also be included this year in the business plan.
• e-Commerce Module Revamped with Google
The e-Commerce module has also been updated with new online advertising decisions allowing develop online sales further. All the module has also been revised with up-to-date information to match the present reality of L'Oréal e-commerce websites.
Competition
• 1700 teams will be selected to play the Rounds 2 to 5 instead of 1500 last year!
Are you up for the Challenge?
Create a team of three students to run your own virtual cosmetics company.
27th Sept. - 27th Nov. 2007
Play the game: Get a taste for business!
When?
From registration date - 4th December 2007.
Who?
All registered teams get a taste of the game playing the First Round.
How?
Taking the role of the General Manager at the head of your virtual cosmetics company, Prima. You will need to manage a portfolio of beauty brands and to compete for worldwide leadership against 4 other virtual companies!
Objective?
Achieve the highest SHARE PRICE INDEX (SPI) at the end of the First Round within each geographical zone in order to be one of the 1700 teams qualified for the next strategic rounds. Then continue the adventure in the online Competition!
Think big: Maximize shareholder value.
When?
13th December 2007 - 29th January 2008.
Who?
1700 teams are selected to play Rounds 2-5
How?
Keep on translating your strategy into critical decisions about all aspects of your company: pricing, production, volume and capacity, research and development, advertising and brand positioning.
Objective?
Excel in market analysis and management decisions. Achieve the highest SHARE PRICE INDEX (SPI) at the end of the 5th Round within each geographical zone in order to be one of the 300 teams selected for the Semi-Finals.
Make it real: Draw up your Business Plan!
When?
1st February - 19th February 2008.
Who?
300 teams are invited to take part in the semi-finals. Depending on their SPI at the end of the 5th Round, the top worldwide teams are selected.
How?
Playing a 6th Round and drawing up a Business Plan: Where will your team be taking your company in the next three years? What are your strategic objectives? How will you increase your SPI yet further?.
Objective?
Achieve the highest SHARE PRICE INDEX (SPI) at the end of the 6th Round & create the best Business Plan.
The Ultimate Challenge
Present your Business Plan to L'Oréal Executives at our Paris headquarters and convince them to "buy" your virtual company
When?
16th April 2008.
Who?
The 2 top teams (one undergraduate & one MBA) from each of the 8 geographical zones who have proven to be the best performing "managers" in their category and zone will be chosen as the International Finalists. The 16 Finalist teams are invited to spent 3 days in Paris! What will await them during three days is a taste of how dynamic the business environment can be; intense preparation, the adrenaline of a sales pitch, interviews with journalists, photo shoots, Paris sightseeing and the possibility of being recruited for a dream job.
How?
Presenting your company and defending your strategy in front of an international panel of executives, CEO's and directors of L'Oréal and the business world. Meeting your worldwide counterparts and competing face to face. Two international winning teams (one undergraduate & one MBA) will be chosen by the Jury.
Objective?
Convince the Jury that your Business Plan and your strategy would be the most profitable.
The competition will conclude at the stunning Awards Ceremony inside the Eiffel Tower where the winners, the top scoring teams, 1 undergraduate and 1 MBA, will be announced and will walk away with 10 000 € for a trip to the destination of their choice.
Grab this unique opportunity for an insider look at L'Oréal!
