YPO Member Innovation Engagement Event: Head-to-Head Corporate Innovation Challenge Lifelong Learning Category: Business Innovation Program Name: Head-to-Head Corporate Innovation Challenge Champion: Member Host Intended Audience: YPO Gold Member, YPO Member, YNG (Young Adult) Program Description: More than 35 members and YNGers came together in a head-to-head challenge to create a well-defined turnaround strategy to optimize acquisition value for a local business. Five teams competed, each made up of either chapter forum members or YNGers. Team members were provided with information around the business and came together to form a strategy that touched on private equity, debt profile, company valuation, expansion capacity, and future cash flows. Teams were briefed on their challenge when the event began, and then separated for two hours to discuss strategy with their respective teams in breakout rooms. Teams filled out a pre-defined template to ensure that fair judging was implemented, and then were given 12 minutes to present their recommendation to the judges. Industry stalwarts and stakeholders were invited to judge recommendations made by the teams, and after the results were announced, industry experts provided a thought-provoking roundup. Platform: Zoom and OBS Studio
SAMPLE How is this event relevant and impactful for YPO members? •
Ernst and Young was an active partner in the process as a partner who prepared the case study. EY was the audit firm that oversaw the acquisition of the firm mentioned in the case study, so they were best suited for the job.
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Members sat down in teams and came together to discuss and create a plan together was a humbling experience and departure from the typical leadership role they hold in their organization and required each member to have an open mind towards the ideas suggested by others, bring in synergies and come up with a compelling strategy.
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All participants got to look at the same problem from five different perspectives, with five unique solutions.
Resources/Speakers: •
Dr.Habil Khorakiwala, Founder Chairman and Group CEO of a global pharmaceutical and biotechnology organization, Workhardt, headquartered in India
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Managing Director of one of India’s leading private equity firms (PE which made actual exit on investment in case discussed)
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Chief Operating Officer (COO) of one of the largest chains of multispecialty hospitals in Maharashtra.
Top 3 Learning Objectives: •
Members had the opportunity to role-play and solve a real-life business distress situation and compete against their peers to out-strategize other members
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Members learned from other teams different ways to approach solving the same problem, especially relevant in a time of crisis for many businesses, as well as learning the actual “what happened” from the distressed business case
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Provide deeper connection with forums by challenging them in a different way
How is this event formatted to maximize audience engagement? •
The case presentations were brought to life by creating virtual background that resembled a massive stage and a podium.
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The event was optionally hybrid: some teams chose to meet at a member’s home to discuss their plan and strategy, while others used virtual breakout rooms.
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To add a touch of personal care, gourmet tea and snacks were delivered to each members’ house, so that they can have a shared moment of connection.
Pre-Event: Time
Content/Topic
1-2 weeks before event
Final judges list confirmed
1 week prior
Final case study version confirmed
4 days prior
Internal mock judging with EY or other partner
3 days prior
Call with Judges
2-3 days prior
Final mailing to participants with judges names, instructions/guidelines, about case study, meeting details Member list and forums
1 day prior
Final mock presentation with champion
Event: Time
Content/Topic
00:00 – 00:05
Members Log in, Introductions & setting the tone
00:05 - 00:20
Introduction of Judges Explaining the case and Roles
00:20 – 2:20
Case Solving- Breakout Rooms
2:20 - 3:20
Presentations
3:20 – 3:50
The ‘Real Story’ by the actual buyer Member list and forums
3:50 – 4:00
Results, Closing and feedback polls