Can someone please explain the "executive summary" to me?

[acorns7]

Executive summary is due tomorrow at 11:59 Eastern time and is submitted online. This has to be done by a student on STIMS, is that right?

I have another question -- this is our first year to do Chairman's Award too. In the rules it says the submission for Chairman's Award is to be less than 10,000 characters, excluding the Executive Summary. What else do you submit besides the Executive Summary? I found on our TIMS site a place for team essays which are limited to about 255 characters, and are to be submitted to be part of the yearbook (what is that?) and to be judged. Is this what the rules are talking about?

Thank you all for your help getting us through all this!