The MIX and HCL are pleased to announce the winners of the first ever MBA M-Prize. Since the seven Finalists were announced on April 5, the teams have been applying a core principle of open source management innovation: working to refine a good idea into a great Hack. The first round judges provided each team with comments, and MIX coaches worked with the teams to focus the upgrades and outline the experimental plan. After all, an incentive was available that most professors don't offer: a budget of $50,000 to test the winning Hack within HCL.
A grand total of 114 entries from students representing the world's top business schools were submitted by the March 20th deadline for the HCL MBA M-Prize . Students were challenged to invent a Hack to address any deep problem with management practice. MIX partner HCL provided an attractive incentive: a budget of $50,000 to test the winning Hack within the living laboratory of that corporation. Young management innovators rose handsomely to this challenge.
“... keep in mind how alien most organizational environments must seem to [Gen Y workers]. Used to the web's meritocracy, they face rigid hierarchies. Comfortable with the transparency of social networking sites, they bump up against information silos and knowledge hoarding.”
The entries so far submitted to the M-Prize challenge certainly display that desire to substitute openness and transparency for hierarchy and boundaries. Vineet calls out some of the themes he has found most interesting so far: