There are many ways to put SCVNGR to use as a brand, or company or for an event. Companies using SCVNGR will right off the bat, be getting their name out there for being social media savvy. Also, when using SCVNGR you can promote your company by offering incentives for using the trek.
There are many ways for SCVNGR to be used around campus too, they could use it for different events, or use it to promote different things going on around campus, and enter the winner or first to finnish the trek a prize.
I am actually putting a trek together for my friends birthday around Mount Pleasant, so even though its not a business using it, it can also be used for fun as well.
SCVNGR reminds me a lot of foursquare, but with foursquare there are not specific tasks. I really like SCVNGR and think it could be used for team building, and bonding exercises too.