IGNITE’23

Ignite’23 was conducted from 13th to 15th September 2023. This was the first business fest which was organized for the first years by BBA Cluster 3. Ignite, our exhilarating annual business festival for first-year students only, is a dynamic showcase of diverse talents and skills. Ignite provides a unique platform for budding business enthusiasts to ignite their passions, learn, network, and compete in a vibrant environment of innovation and collaboration, with engaging clubs dedicated to Marketing, Finance, SMPR, MDQ, ED, HRM, and Analytics. Join us for a transformative experience that will lay the groundwork for your future business success.
The Business Fest IGNITE consisted of 3 rounds that lasted for 3 days, incorporating the fields of investment, human resource management, legal liabilities, marketing, finance, and analysis. The Inauguration ceremony was conducted on the 13th of September in the Management Block Auditorium. All the participants were present for the ceremony along with the Head of Department for Bachelor of Business Administration (Business Analytics) Dr. Parameswaran S, Cluster coordinator Rohit Kumar Sharma, Faculty in charge Dr. Sharad Gupta, Dr. Shubhashree, Dr. Aashiek, Prof. Jayashree Bhattacharjee, Prof. Damini. All the students from 1st year BBA- Business Analytics participated in the event as it was compulsory for them. Each event conducted 2 rounds on the first day, 1 round on the second day, and the final round along with the valedictory ceremony on the last day. The participants were allotted teams of 3 randomly. There were 12 teams in total for every club.

Description of the Event:

On Day 1: The first and second round(for few clubs) were conducted, which was started by the Investment Round for the ED was conducted. In this round, the participants had to buy a company from 11 different domains presented to them under the budget of 5 corers. After buying the company they had to convey their remaining budget to the Finance Club. On the same day, all the clubs conducted their round 1; Analytics- given an Excel sheet and participants had to apply the formulas; HRM- participants had to design a hierarchy of job roles essential for different departments; Finance- participants had to allocate budget for each department with the remaining budget their Ed member has conveyed; Marketing- for round 1 participants had to come up with effective marketing strategies, and for round 2 they had to prepare a video advertisement of 40 sec; SMPR- for round 1 participants were given a case study with real-life industry with it’s background, key challenges facing- teams had to make a word documents addressing all the strategies to come up with regarding to the public relation, and for round 2 participants were presented with blur posters and after selection of the poster they had to defend their choice and present ppt on the same; MDQ- participants had to answer a series of slightly twisted questions testing their general knowledge, and for round 2 teams were given business case studies with hypothetical problems, teams had to analyse their assigned case study and prepare a presentation for same.

Day 2: IGNITE was highly mind-stimulating for all the teams. The second started with the elimination round from each club and the event was carried out successfully with all the mind-blowing rounds well thought out by our ideation team, along with the cross-questioning followed by the presentations of each team.

Day 3: The Grand Finale, the concluding portion of the event arrives. Just like Day 2, Day 3 also had an elimination round. Following the announcement of the eliminated teams, the Final Round for each club began, with case studies and options to defend themselves and their choice in front of our BBA faculties as judges, which was followed by cross-questioning by the judges. The final round was Shark Tank by the ED club. In the final round for ED club the remaining 6 teams were merged 3 teams, and they were given a domain on which they had to give a presentation including everything from starch like financial management, jobs available in their company, marketing strategies they will apply, etc. this was followed by the cross-questioning by the BBA faculties as judges. After the shark tank round the IGNITE officially ended with the valedictory ceremony.

Conclusion:

1. Teamwork and Leadership; many fest events require participants to work in teams. This experience can teach first-year students how to collaborate effectively, resolve conflicts, and take on leadership roles, which are essential skills in any career.
2. Exposure to Real-World Challenges; business fests often incorporate real-world case studies and challenges. First-year students can apply their theoretical knowledge to practical scenarios, giving them a taste of what they can expect in their future finance careers.
3. Career Guidance; finance clubs often invite guest speakers and alumni who can provide insights into career paths in finance. First-year students can learn about different job roles, industries, and career trajectories within finance, helping them make more informed decisions about their future careers.
4. Certain teams may have excelled at developing distinctive and cutting-edge items that attracted the attention of the judges and garnered financing. They may have employed workers with a variety of skill sets, even those with defects, using the invested money wisely to solve the case study and cash flow statement around difficulties. These teams might have created lucrative companies and goods after the festival was over.
5. Other teams might have had trouble developing compelling items or failed to win the judges' support. They might have had issues dealing with the legal and financial facets of running a firm, as well as hiring workers who had problems. These obstacles may have caused several teams to withdraw from the competition at different points.
6. A few teams may have made it to the finals by producing outstanding items, showcasing their capacity to recruit and manage personnel, and triumphing in the case study and cash flow statement rounds. In the final round, these teams might have developed even more inventive and lucrative product concepts, giving them a chance to win the competition and earn exposure and funding for their upcoming endeavors.
7. All of the competing teams may have benefited from the judges' insightful criticism and counsel, which helped them to improve their goods, business plans, and financial projections. Even teams that did not place first or proceed to the next round of the competition may have learned important lessons about entrepreneurship that they can use in their future endeavors and careers.
8. Students' passion and interest in entrepreneurship may have been sparked by the festival itself, motivating them to pursue their own business concepts and hone their talents in areas like product development, marketing, and finance. It's possible that the event helped forge relationships between students, judges, and business leaders, opening doors for cooperation and mentoring.