Business Battle of the Ravine
The Henderson State University Business Plan Competition is an excellent vehicle for students to put into practice business knowledge learned in their coursework. Winning business plans reap substantial financial rewards for student participants. The competition requires that eligible students develop a feasible business idea. Each business idea is then converted into a business plan to be presented to a panel of judges. The purpose of the business plan competition is to spark both entrepreneurial and economic activity in the surrounding area and provide students with a realistic approach to functioning in the business world. Entrepreneurial skills are required for the competition and help students use business knowledge beyond the classroom.
Students who compete may work in teams of 1 to 6 individuals and must be represented by a faculty advisor. A five-member panel judge the business plan presentations; each judge has expertise in various disciplines including economic development, banking, small business management, and corporate operations.
After the judges’ deliberation, the top three business plans from HSU contestants, win a share of $9,000. Unlike many competitions, the Henderson Business Plan Competition does not stop at Henderson State University. Students with the top three HSU business plans are required to present at the Business Battle of the Ravine against Ouachita Baptist University. The six finalists from HSU & OBU present their business ideas to a new panel of judges in Arkadelphia’s town hall. Contestants who place in the top four in the town hall competition are awarded a share of $10,000.
Henderson State University Business Plan competitors also submit their completed business plans to the Arkansas Donald W. Reynolds Governor’s Cup Competition. Students from Arkansas universities submit business plans to the competition, and after thorough analysis, the judges choose a select group of participants to present business plans in this state-level competition. Winners for 2013 share in financial awards totaling over $270,000.
Each business plan competition offers an unforgettable learning experience for students, improving their knowledge of “real world” business. To execute their plan and convey their idea, students must possess a strong working knowledge of market trends, business cycles, marketing techniques, financial projections, and public speaking. From conception, to development, to presentation, the business plan competitions at Henderson develop a plethora of skills that are critical for success in today’s business environment.
The HSU Business Plan Competition is sponsored by BBA Solutions