Lazaridis MBA Live ICE 2020: A winning experience

Jan. 26, 2021

Wilfrid Laurier University’s Master of Business Administration (MBA) program recently hosted DiMuto – a Singapore-based trade technology service company – at its 44th annual Live Integrated Case Exercise (ICE). 

Each year, as the capstone of Fall core term, teams of MBA students participate in this weeklong mandatory, real-life, real-time management challenge. The student teams come up with solutions which they present to the company managers, faculty members and alumni judges. For the first time in its history, thanks to the benefits of remote learning, the Lazaridis MBA was able to work with an international company for Live ICE. 

DiMuto provides cold-chain supply and monitoring systems, typically used in the safe delivery of medicines and vaccines, such the COVID-19 vaccine. Cold-chain systems are increasingly being utilized to ensure food safety and reduce food waste. The information provided by the monitoring and tracking involved has also proven to be essential in resolving international trade disputes. 

DiMuto challenged the Lazaridis MBA teams to investigate and recommend entry strategies for either the Canadian beef or seafood markets.

Scheduling around a 13-hour time difference, company executives met, live, with MBA students in a Question and Answer session and also judged the final presentations.

The winning team was comprised of Geoff Archibald, Evan Aziz, Nicholas Potter, Hayley Volden and Juan (Joyce) Wang. Their solution was selected by DiMuto executives as the most thorough and viable strategy into establishing a foothold in the Canadian seafood market.

"Everyone involved was very impressed with the depth of analysis and insights shown by the Lazaridis MBA students, especially considering they had only one week to build expertise in this particular industry,” said Brad Davis, associate director of the Lazaridis MBA Programs. “Presentations were very polished and professional; but, the Q&A session with DiMuto was where students really shone. You could see how well prepared they were by their ability to handle a broad range of questions and adjust to whatever was thrown at them. This made their recommendations that much more viable because they'd clearly considered all the different contingencies and issues arising. Again, the participating management team expressed how much they enjoyed and benefited from the experience; and, the hope that we could work with them again in the future."

Get to Know the Live Ice 2020 Winning Team

Q-and-A with the Live Ice 2020 Winners

The Lazaridis School connected with the winning team to learn about their experience in this international Live ICE.

Lazaridis: How did you prepare for Live ICE?

Nick: A ton of practice, and research. We spent a lot of our time researching certain aspects of the seafood industry such as regulations and markets to target. Another key aspect was the practice. We read through our parts of the presentation numerous times in order to make sure it flowed smoothly and to make necessary changes. We had confidence in ourselves and in one another and this set us apart from our competitors.

Hayley: We relaxed! The night before ICE, you are completely in the dark about all details. You’ve just finished your eight core exams and you’ve completed an entire term with your team. Everything in the term has prepared you for Live ICE. So, on the eve of ICE, my team relaxed and had confidence in the teachings and in our ability as a team to work through problems and to present really solid solutions.  

Lazaridis: How was your experience working directly with a company to solve a current issue?

Nick: Fantastic! It was an experience like no other for me. It seemed to motivate me, even more, to do well because we were helping a company with an actual issue.

Joyce: We valued this opportunity to solve a real-time problem with DiMuto. The Q&A session, where we could directly exchange ideas with the DiMuto management team was also a fantastic experience.

Evan: Working with DiMuto to solve a real-life issue was an amazing experience. The fact that we were able to present directly to key decision makers in real time was surreal. It helped me build up my confidence when it comes to real-world business meetings. 

Lazaridis: Was there a specific course or subject matter that helped to influence your recommendations?

Hayley: The core curriculum is designed as a supportive and holistic program. Without one course, our ability to come up with our strategy and solution would have been hindered. You might not directly reference macro-economic trends in your solution, but I assure you, having an understanding of all the core courses is essential for a well-rounded solution. In saying that, I think our Strategy Prof makes a good case that strategy is an important course for producing a good strategic solution. 

Geoff: Our question definitely required a holistic mindset. An awareness and respect for the concepts and overall narrative covered in the core operations course set the tone for this case, but there was a fair bit of sales and marketing strategy brought into our recommendation. As always, the question tested our ability to bring in some forecasting and financial analysis, which was inevitably dissected in detail during the course of the Q&A with executives that followed our presentation.

Lazaridis: How has Live ICE impacted your experience in the Lazaridis MBA?

Hayley: The Live ICE experience provides an opportunity to showcase all you have learned. It provides an opportunity to reflect on where you started as a professional and to present who you have become. 

Nick: It helps me prepare for real-life situations in the business world. We are expected to use multiple components of our courses to tackle problems and this is what is going to occur when we are working in the future. I think it is important to grasp this challenge with an open mind because this only prepares us for our future and what should be expected. 

Joyce: As an international student, the Live ICE experience provided me an opportunity to solve a real-time problem and helped me gain more insights into this specific Canadian market and business. I feel more confident in my future career after graduation. 

Lazaridis: Do you have any tips for future MBA students?

Geoff: For anyone entering the Lazaridis program, I highly recommend coming in ready to allocate time to work on presentation and communication skills. The ability to persuasively present an idea in the business world is critical and is a key reason I’m enjoying the opportunities of the program; however, dedicating the proper amount of time to continuous improvement oftentimes gets pushed to the side. This program provides plenty of training throughout the semester and the Live ICE is an opportunity to put everything you’ve learned on the line.

Hayley: Prioritize getting along with your group! Group work can be awesome and it can suck – as with most things in life. Whether our group talked about it or not, we were all on the same page about consistently making small compromises with one other for the greater good of the group. Learning to dynamically rotate between the role of leader and supporter is a great life skill. 

I would highly recommend that future MBA students work to maintain a balance between schoolwork and fun. Throughout the term, (COVID-19 lockdowns permitting), I really prioritized having a social life outside of school and took time to be active and to do things I loved. I think all my group members did a really good job at that. Whether it was going for walks to stay active, being there for your family, or running a business, all my group members worked to balance the many facets of life. It’s really easy to drown yourself in schoolwork and forget about all the other things that make you who you are. Ultimately, it will be the time spent doing things for you that make you a better teammate, student, and professional. 

Evan: Research the industry, research the company, use everything you've learned throughout the semester and you should do well in Live ICE. In terms of the MBA program itself, manage your time wisely. Communicate with your group. Don't procrastinate.  

Nick: Remember to breathe and find activities that you enjoy to calm your stress. It is a very busy semester and also stressful; you need to find appropriate ways to cope with this because everything will be fine!

Lazaridis: What was is like to work remotely on a significant group project?

Evan: I kind of preferred it! Sharing documents and working alongside your group via Zoom was much more efficient for me. We identified one other's strengths and weaknesses and assigned tasks respectively. We communicated our disagreements and we weren't afraid to ask for help when needed. 

Nick: Honestly, it was not bad at all! It was easy to set up meetings and this was the easiest commute of my life as I just needed to set up a Zoom call to connect with my colleagues. I would love to go back onto campus soon to meet all my friends in person but working remotely had a lot of benefits. 

Geoff: It’s possible that the habits being developed right now will only become more relevant for all service-sector work, and the specifics of group coordination are yet another part of the education. While remote university learning does inherently lose some of the community feeling, there was ways to combat this; for example one of our classmates stepped up early in the program to create a Discord platform that a significant portion of students joined. This became an informal, student-only interactive forum with options for hosting all of the program groups, sharing links and media and sharing memes.

Hayley: It was a blessing in disguise. For one, I had the best commute ever. With Zoom and Discord going at all times, group work wasn’t a challenge. Unfortunately, I think you do lose some of the personal connections, but you make up for it in other ways. As a group, I think we reached out on a personal level about how each other were doing and feeling more often than we would have if we were in person. So, while you don’t get to physically work together, you do find ways to get the job done and find things you like.  

Lazaridis: Are there any other insights or tidbits you’d like to share?  

Geoff: Regarding our success in the Live ICE, we were able to muster the energy at the end of this intensive semester to continue the collaboration, research and discussion. A significant level of determination had to be marshalled to create a suitably engaging presentation marked by a consistent visual theme and language. After ensuring that adequate research had been sourced to generate an appropriate thesis and pitch, fine tuning the slides and script may have played a significant role in the degree of persuasion and engagement.

Hayley: In general, I think what made our group successful was our ability to leverage one other’s strengths and support one other in our areas of weakness. Everyone comes into the program in their own right, with their own experiences and if you can leverage those and allow all group members to excel, you will excel as a group.

Joyce: I would like to say thank you to my group members. It was a really memorable experience working with them.

The Lazaridis Master of Business Administration (MBA) program offers programming in Waterloo and downtown Toronto in a variety of formats including full-time, part-time, co-op, and a double degree option with the Lazaridis Master of Finance (MFin). The program’s faculty, staff, and students are grateful to DiMuto for their support of the 2020 Live ICE and their contributions towards an impactful and hands-on learning experience.