POTSDAM, N.Y. (WWTI) – The Potsdam University College of Business in New York hosted a business plan competition that challenges students to develop entrepreneurial concepts that meet the needs of specific consumer groups.
Teams in the Business Principles and Professionalism class spent the fall semester learning about the building blocks of business and applying the concepts to creating an initial business plan. Students then worked in teams to hone skills such as goal setting, scheduling tasks, meeting deadlines, evaluating progress, thinking critically, public speaking, and building a big picture for a company. .
The competition was started in 1993 by Professor Edwin J. Portugal to give business administration students the opportunity to work together in teams to create an actual business plan. Each team will present their final business plan in front of an external judge who will act as a venture capitalist.
“They read real-world business cases and confidently present their recommendations to others. In addition to understanding business language, must be able to communicate.”
Dr. Edwin J. Portugal
The winning team's product proposal was to enable elderly and disabled people to ski using a ski attachment mobility device for walking aids. Fall 2023 winning teams included:
- Lindy Bettles '27 lives in Potsdam, New York.
- Chris Ashlaw '27, lives in Ogdensburg, New York.
- Matthew Mapes '27, of Fort Drum, New York;
- Adrianna Orlando ’27, of Baldwinsville, New York;and
- Benjamin Presley ’27 lives in Greenwich, Connecticut.
“I was amazed at the high quality of work these first year students did. Their creativity, thoughtfulness, thoroughness, and entrepreneurial spirit speak to their dedication to the course and Dr. Portugal's exceptional leadership skills.” said Dr. Alan Hasker, interim provost and vice president for academic affairs, who was invited to lead the students' presentations. “SUNY Potsdam University is well known for its emphasis on applied learning, and these students are the best of the best.I hope I have the opportunity to work with them again.! ”
Each team created a 20-page business proposal binder portfolio and PowerPoint and built and presented to external judges a working prototype of a product that:
- Josh Stokes, head volleyball coach at the State University of New York at Potsdam.
- Cameron Clare, non-business major;
- Luis Tito, advanced business major.and
- Susan Portugal, an executive at Pfizer Pharmaceuticals Inc.
Each judge asked the following questions about business plans from a unique perspective:
- Economic viability of the proposal.
- Acceptance by Customer.
- Challenges in selling products.
- dealings with competitors; and
- Estimate sales.
For more information about SUNY Potsdam School of Management, please visit their website.
