Undergrad Competition Changes Name, Keeps Focus

UNIVERSITY PARK, PA (November 3, 2006) – The unique academic competition at Penn State's Smeal College of Business that for six years has had students responding on their feet to global business challenges has a new name: The Next CEO.

The competition—formerly called Smeal Survivor—and the special preparation leading up to it remain the same as in previous years. Only the name has changed.

"We wanted a name that more accurately reflected the competition," said Robin Stevens, Smeal's director of corporate relations and chair of The Next CEO. "Contestants really have to put themselves in the mindset of a multinational CEO for this competition. They truly are acting as if they are 'The Next CEOs' of global corporations, dealing with terrorism, natural disasters, workforce changes, you name it."

The Next CEO requires contestants to think on their feet, posing as chief executives of multibillion-dollar global corporations to answer questions about how their companies should respond to complex business crises and world events. Corporate executives judge the students on their performance and award significant prizes. Last year, two first place winners received a homecoming weekend package, including dinner, hotel, airfare, Penn State football tickets, and other prizes with a total value of more than $2,000.

The contest is open to all Smeal undergraduates. More details will be available at two information sessions held this month in the Business Building—Nov. 13 in room 105 and Nov. 28 in room 10. Both sessions are scheduled for 6 to 9 p.m.

Following the application process, select finalists will travel to Washington for a day of study at the Center for Strategic and International Studies (CSIS), one of the world's most-respected think tanks. Following an evening of touring and dinner with high-profile Penn State alumni, the students will spend a full day at the think tank, discussing world events with former ambassadors and senior policy advisers.

The day begins with a presentation from Erik Peterson, senior vice president of CSIS, on the coming "Seven Revolutions," which are major global trends identified by Peterson and his colleagues that will drastically alter international business throughout the next 20 years. The Seven Revolutions form the backdrop for The Next CEO competition a month later.

Back in State College, the final contestants are chosen by Stevens and her committee and the students are assigned a company, which they study for the next month in order to answer impromptu questions from the position of its CEO.

Smeal's relationship with CSIS began when William Schreyer, chairman emeritus of Merrill Lynch, served on both Penn State's and CSIS' boards of trustees. The first Smeal Survivor was organized in 2001 by students Atif Ghauri and Ryan Newman after Ghauri interned at CSIS. Through the ongoing commitment of Peterson, CSIS and Smeal, the event has become an annual, public competition judged by corporate partners.

This year's competition kicks off with Peterson's Seven Revolutions presentation on April 23, 2007, at the Penn Stater Conference Center Hotel. The public is encouraged to attend.