Table of Contents

• Judging Criteria
  • Guide for BYU MS Business Plan Competition Judges
    • Awareness of Judging Bias:
    • Evaluating Beyond Presentation Skills:
    • Adherence to Judging Criteria:
  • Judging – Some Key Definitions and Explanations
    • Sustainability:
    • Resilience:
    • Impact:
    • Uniqueness:
    • Feasibility:
  • Judging – Comprehensive Review:
    • Consideration of Language Barriers:
  • Prohibited Business Types:

Guide for BYU MS Business Plan Competition Judges

Here are some guidelines we’ve put together to assist our judges throughout the judging process.

Awareness of Judging Bias:

Judges must be mindful of potential biases related to their experiences, countries, or preferences toward a particular contestant. It’s crucial to approach the competition with an objective mindset.

For example, if a judge has extensive experience in the food industry, they should strive to set aside those biases to grasp the contestant’s perspective fully. Not all businesses operate similarly, and cultural or regional differences can significantly influence business practices.

Evaluating Beyond Presentation Skills:

While evaluating, judges should look beyond the presentation itself.

Some contestants may lack experience in presenting or may face language barriers. The focus should be on the business idea’s viability. Consider the following:

• Is this a viable business that can succeed?
• Does the contestant have the potential for long-term success?
• How will the prize money impact the business’s ability to start or grow?

Adherence to Judging Criteria:

Judges must familiarize themselves with the judging criteria outlined on the scoring sheets. Each criterion has an associated value, and judges should ensure they score according to these predefined values.

Judging – Some Key Definitions and Explanations

Below are key definitions of the judging criteria and their meanings. Understanding these will help you evaluate the entries more effectively.

Sustainability:

Does the business have the growth potential? Is there a market demand? Sustainability involves understanding market dynamics and growth potential.

Judges should assess whether the contestant grasps their market and growth strategies, balancing excessive and insufficient growth.

Resilience:

Resilience relates to risk management. Do the contestants understand the risks involved and have strategies in place to manage them?

Effective risk identification and planning are crucial indicators of resilience.

Impact:

Impact considers how the BYU MS Business Plan funding will benefit the business, whether in starting or scaling.

Impact also includes the potential social contribution of the business, but judges should avoid bias towards nonprofits. The focus should be on how the funds will positively impact the business and the community it serves.

Uniqueness:

Judges should assess how the business differentiates itself from competitors. Does it address a particular issue or fill a gap in the market? Whether the idea is innovative or a new take on an older concept, the uniqueness of the business is a key factor.

Feasibility:

Feasibility assesses the business’s potential to generate an attractive return on investment (ROI). Judges should look at the clarity of the business in terms of marketing, technical, operational, financial, and legal aspects.

Judging – Comprehensive Review:

Judges are encouraged to watch all videos before scoring, including the brand and business plan presentations. This ensures a consistent and fair evaluation.

Technical abilities will vary among contestants, so judges should focus on the business plan and judging criteria rather than the video’s production quality.

Consideration of Language Barriers:

Some videos may include subtitles or language translations. Some presentations will need translation.

Judges should not penalize contestants for these but rather focus on the overall business plan and the criteria laid out.

Prohibited Business Types:

The competition does not allow certain types of businesses, including:

• Multi-level marketing, network marketing, or pyramid schemes
• Get-rich-quick schemes
• Buyouts, real estate syndications, tax shelters
• Purchase of a franchise or licensing agreements for distribution in different geographical areas

By following these guidelines, judges can ensure a fair, thorough, and objective evaluation process for all BYU MS Business Plan Competition contestants.