By Neil King
Global Management Challenge pits university students against corporate high-fliers
A worldwide contest has arrived in the UAE, pitting university students against business heavyweight in a series of management competitions.
Global Management Challenge (GMC) is a strategy and management contest which creates business simulations for teams of three to five people from either the student or corporate world.
Each team will be given control of a hypothetical company with the objective of securing the highest share price on a simulated stock exchange.
Competitors are asked to analyse financial and economic indicators, expand their views on corporate strategy, interact with functional areas of a company and gain an in-depth understanding of the market conditions in which their companies compete.
GMC has been brought to the UAE by Beaufort Associates, a consulting and advisory services firm.
Managing partner Mian Muneer ud din said: “This is the first time that this competition will take place in the UAE and we anticipate great things from participants.
“Not only does this competition contribute to developing the next generation of business leaders but it will also increase job opportunities for graduates in the UAE.
“This is an opportunity for students and corporates from UAE universities and businesses to show their mettle in this challenge and use it as a springboard in their career.”
The competition aims to encourage UAE nationals to look for careers in the region’s private sector, as well as giving lessons in teamwork, decision making and leardership.
Muneer ud din added: “Unlike other competitions, in a simulation the decision of each team impacts the results of other participants within their group and vice versa as it occurs in the real world.
"This is a representation of the business environment in the UAE where companies have to face increasing competition while innovating constantly in order to grow.”
The winning team will compete with national winners from around the globe for the world title, due to be held in Sochi, Russia, in April 2014.