UAE Global Management Challenge Launches Trial Round

47 teams signed up so far to compete in the Global Management Challenge UAE, including DUBAL, AW Rostamani and DP World; “the Challenge aligns with UAE Vision 2021”

Dubai - January 27 2014: The world's largest strategy and management competition, the UAE Global Management Challenge kicked- off its trial round last week, with 47 teams comprising of more than 200 participants. The Global Management Challenge UAE will help bolster management skills required to build a knowledge economy. This platform directly supports the ‘UAE Vision 2021' National Agenda recently launched by UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. The Agenda outlines the UAE's development objectives within the sectors of education, healthcare, economy, police and security, housing, infrastructure and government services.

“We decided to bring the Global Management Challenge to the UAE because we saw many synergies with the country's economic vision,” said Mian Muneer Uddin, managing partner of Beaufort Associates. “The entrepreneurial experience and practical knowledge gained by participants in this competitive Challenge are unique and very relevant to the prevailing economic and business climate.”

The third section of the Agenda states that there needs to be a shift to a knowledge-based economy over the next 7 years, 'within an entrepreneurial environment that harnesses the talent and creativity of Emiratis”* (Vision 2021 document). This shift is set to bring forth a new wave of entrepreneurs supported by programs such as business incubators. 'In a national effort, the UAE will cultivate a healthy, risk-taking culture where hard work, boldness and innovation are rightfully rewarded.'*

“The UAE Global Management Challenge is a very good platform for us to train and develop our managerial staff in a real-time, simulated environment, where they can compete against skilled professionals from other companies and organizations,” said Marcos Quadros, CFO, AW Rostamani Group. “As a training method, I believe that the UAE Global Management Challenge can contribute significantly to achieving Emiratisation objectives for management positions within the private sector.”

The trial run aims to acclimatize the teams to their simulated environment. The 47 teams from UAE companies and universities that have signed up for the trial will be competing for the chance to become the ‘UAE Champion'. The participants within the teams will assume roles (in finance, marketing, production and HR sectors) and plan their business strategy. They will 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. The overall aim is to maximize their virtual company's investment return for shareholders.

Round 1 of the Challenge, which will commence in February, will see teams from companies like AW Rostamani, the Adam Group, DP World, IMUM LLC and DUBAL pitting their skills. The winner of the UAE competition will then compete at global level in April when the international finals take place in Sochi, Russia.

 “Learning by doing is a very important aspect of our training and development programme. We found the Global Management Challenge to be a very good way for our employees to experience a competitive business and work environment where they have to take important decisions that will affect their business,” said Sultan Al Sabri, Vice President Human Resources & Organisation Effectiveness at DUBAL. “This experience not only gives them a taste of real-life business, but also the chance to represent the UAE at the global challenge in Russia.”

The UAE Global Management Challenge conducted a road show that visited leading companies and universities in Dubai and Abu Dhabi. The Challenge signed a cooperation agreement with Dubai International Academic City (DIAC), the world's only free zone dedicated to higher education, and named a panel of jurors to oversee the Challenge – the members of which include Hamed Kazim, UAE national and board member of Commercial Bank of Dubai; Ibrahim Moosa Jamel, Director of Operations Education Cluster – TECOM Investments – DIAC; and Abdulrahman Saqr, Senior Vice President of the Human Resources Department and Head of Emiratisation at First Gulf Bank.