Before the third round started, our participants had had a lecture about successful case studying and work in general. And here are some comments and tips from Danil Fedorovykh, the President of the IEO:
What was the last year's case?
Students were proposed to develop a strategy of promotion for a commercial bank. The target group was young people who were just starting to use the banking system. In addition, participants had data on financial statistics of the company and customer reviews.
Why was this format chosen for a third round?
As IEO is a team competition, contestants should be able to work not only individually but also in teams. Firstly, case solving is suitable for the theme of our Olympiad – economics. Secondly, this is an opportunity for every student to show the strengths he or she possesses: developing a financial model, preparing presentation slides and presenting the final solution.
Which difficulties did the students experience when preparing for the round? What were the most common mistakes?
Some countries were not familiar with this type of assignment, and it was the biggest challenge for them. Others had some difficulties with understanding criteria and distributing forces among different parts of the task.
What do participants need to know about the round to pass it successfully?
Participants need to understand how a firm works. Also, students who know at least the basics of corporate finance and management have a significant advantage.
What helped the last year's winners most?
Last year, Kazakhstan and Malaysiareached the final level. Malaysia won this round because of their ability to combine good financial model with impressive presentation.