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The world's largest strategy and management competition, the UAE Global Management Challenge has completed a successful trial run and is geared for round one of the competition. The trial run kicked off a month ago with 47 teams comprising more than 200 participants.
“It was an impressive trial that showcased some of the finest talent the UAE has to offer,” said Amina Selmani, project manager r of Beaufort Associates. “We now look ahead to round one, where the real challenge begins for these teams.”
The trial run aimed to acclimatize the teams to their simulated environment. Over 60 teams from UAE companies and universities will now compete 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.
“The trial round gave participants the confidence to make mistakes, strategise, hone their business skills and asses the competition. The UAE champion will emerge from one of these teams and witnessing their progress in the trial run it's bound to be a close call,” added Selmani
Round 1 of the Challenge, which begins 12 February 2014, will see teams from companies like AW Rostamani, the Adam Group, DP World, IMUM LLC and DUBAL pitting their skills against each other and against students of some of the finest universities in the UAE. The winner of the UAE competition will then compete at global level in April when the international finals take place in Sochi, Russia.
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