"This is the first time the UAE is hosting the Global Management Challenge and we are pleased to have our students participate in this," said Dr. Moza Al Shehhi, Vice Chancellor for Student Affairs at American University of Sharjah . "We are committed to seeing education advance in the region and initiatives such as Global Management Challenge UAE illustrate the pursuit of leadership skills and knowledge in students."

 

The Challenge was officially launched in September last year and is aligned with the UAE's vision of Emiratisation. The competition encourages professionals and students to participate and a special track for UAE nationals is under review.

 

"The Competition will provide students with the opportunity to make real-life business decisions that they would not ordinarily be exposed to at this stage in their career," said Jeanette Teh, Assistant Professor of Business Administration at AUD. "As the decisions are multi-disciplinary, the Competition will enable the students to apply content and skills they have learned in their various courses, essentially converting theory into practice in a global context."

Teh added that AUD's participation in an international competition will continue to put the university on the map as one of "UAE's leading academic institutions".

 

The winning team, or 'UAE Champion', will then compete with counterparts from several countries for the world title, to be held in Sochi, Russia in April 2014.

The Challenge consists of a management simulation in which teams of 3 to 5 people, comprising university students and corporates, are given complete control of a virtual company with the objective of obtaining the highest investment performance for their shareholders. Participants analyse financial and economic indicators, develop corporate strategy, interact within functional areas of a company and gain an in-depth understanding of the market conditions in which their companies compete.

 

"We are pleased to be in talks with the region's top education institutes. It is only through a shared vision that we can work together and ensure the success of this competition," said Mian Muneer Uddin, managing partner of Beaufort Associates, the consulting and advisory services firm that brought the Global Management Challenge to the UAE.

 

About Global Management Challenge 

 

Global Management Challenge is the largest Strategy and Management Competition in the world with participation from more than 30 countries. In excess of 500,000 university students and company managers have participated in the competition over the past 30 years. The challenge comprises a program wherein teams of managers and university students manage a virtual company in competition with each other, with the objective of achieving the highest investment performance. The simulation offers a rare opportunity for students and professionals to manage a company, without running real-world risks while taking strategic and senior management decisions. Global Management Challenge normally consists of two to three national rounds; the winning team then competes with winners of several other countries in a Global Management Challenge for a world title that is played every year in a different city across the globe. Global Management Challenge UAE is operated by Beaufort Associates, a management consulting and advisory services firm, based in Dubai Internet City. www.beaufort.ae

 

Read more: https://www.zawya.com/story/Worlds_Largest_Business_Competition_in_Talks_with_Regions_Top_Education_Experts-ZAWYA20140109101144/