L’Oreal E-Strat Challenge Receives International Accreditation Careers

L’OREAL e-STRAT CHALLENGE RECEIVES INTERNATIONAL ACCREDITATION FOR ‘TECHNOLOGY-ENHANCED LEARNING’ – AN OFFICIAL VALIDATION AS A HIGHLY VALUABLE EDUCATIONAL TOOL

48 REMARKABLE STUDENTS FROM AROUND THE WORLD PIT THEIR CHANCES TO BE RECOGNISED AS ULTIMATE BUSINESS MANAGERS

Paris, April 13, 2006 – L’Oréal’s innovative recruitment tool, L’Oréal e-Strat Challenge, which today celebrates the success of 18 students from around the world at its sixth international final, has been accredited by the renowned international organization EFMD (European Foundation for Management Development). The accreditation Technology–Enhanced Learning (CEL) certifies the L’Oréal e-Strat Challenge business competition as an outstanding management education programme. The CEL accreditation acknowledges the excellent quality of the L’Oréal e-Strat Challenge in academia as a business learning tool.

CEL is an affirmation that the Challenge subscribes to a high pedagogical assessment, audited and approved by a specialized educational institution. For the students the accreditation is a guarantee that the L’Oréal e-Strat Challenge is an educational as well as a professional benchmark in their careers.

In response to the accreditation, Geoff Skingsley, L’Oréal’s Executive Vice President of Human Resources said: “For today’s generation of students for whom seeing is believing, the L’Oréal e-Strat Challenge 6 is a true catalyst to bridge the gap between academic theory and business reality. We are delighted to receive the CEL accreditation as it affirms our position as a key player in the industry in business management training. Judging from the number of students that register and the quality of the competition each year, it goes to show the continuing added-value of our initiative.”

This was proved as 48 international finalist students gathered at the Eiffel Tower to compete in the sixth edition of the L’Oréal e-Strat Challenge, having beaten off nearly 40,000 students from 125 countries. Today, 18 students in teams of three (representing the Undergraduate and MBA categories) came forward as winners of the L’Oréal e-Strat Challenge 6 by demonstrating their business savvy before an executive panel of some of L’Oréal’s most senior management as well as international figures from business consulting and media.

The first prize of the Undergraduate category for the L’Oréal e-Strat Challenge 6 international finals went to Turkey’s Marmara University, whilst the second prize was awarded to the team from Canada, University McGill. This year there were two teams who won third prize and they were Tambov State Technical University from Russia and Indonesia’s Universitas Indonesia.

For the MBA category, the first prize was awarded to Italy’s Publitalia 80; second prize went to Mexico’s Instituto Tecnologico Autonomo de Mexico-ITAM, whilst the third prize winners were from Hong Kong’s Chinese University of Hong Kong.

The L’Oréal e-Strat Challenge is one of the most popular virtual business strategy competitions for undergraduate and MBA students. Drawing from the dynamic realities of the beauty market, the L’Oréal e-Strat Challenge creates an unprecedented realistic situation whereby students in teams of three manage a virtual international cosmetics company. The teams present at the final came from Germany, Portugal, Russia, Turkey, Argentina, Canada, China, Indonesia, UK, Italy, Greece, Israel, Hong Kong, Mexico and USA. They demonstrated acute analytic skills and the ability to make complex decisions under pressure to qualify for the finals. Creativity, astuteness and communication skills were the final determining factors.

Commenting on the future of the Challenge, Jean-Claude Le Grand, International Recruitment Director for the L’Oréal Group said: “The DNA of the L’Oréal e-Strat Challenge has been building for 6 years and it gives us today a solid basis for the future. What began as a L’Oréal innovative recruitment tool, is today one of the world’s leading renowned strategic, business simulation games.”

Press Contacts:

Noëlle CAMILLERI
Phone: 01 47 56 48 43
email: ncamilleri@dgc.loreal.com

Further information on L’Oréal e-Strat Challenge available at: www.e-strat.loreal.com
Further information on L’Oréal available at: www.loreal.com