As noted in Fortune magazine’s August 2012 issue, the“Global Management Challenge , a crash course inbusiness strategy, fast tracks university students andcorporate managers eager to learn how to deal withrisk and become effective competitors.”
Overview • Started in 1980 - Portugal • 40 Countries • Over 480,000 participants around the world • Sample Corporations: NYSE Euronext, Barclays Bank, Deloitte, Coca-Cola, Pfizer, Accenture, Mercedes Benz • Sample Universities: Oxford, Cambridge, Purdue, Georgetown, Stanford
Our Methodology We Remember 10% 20% of what we read of what we hear 30% 50% of what we see of what we read and see 70% 90% of what we say of what we do
What Does Managing a Virtual Company Consist of? • Analyzing the Company History • Strategic planning • Making decisions in a highly competitive and constantly changing environment • Analyzing results and adapting to change
Decision Samples How many products should we produce? What is the best price for our products? Should we invest in the free trade area market? How much will we invest in advertising for each product? Do we need more agents and distributors to sell our products? Must we improve our products? Are we being competitive? How are our competitors doing?
How Does it Work? 1. Intra-company/university teams are organized (minimum of 3 to a maximum of 5 individuals). 2. There are 3 rounds of competition. In the First and Second Rounds: Over the course of a 2-week period, teams work together to manage a virtual company. They will be competing with other national teams and focused on an objective of achieving the highest share price in a simulated stock market. 3. Upon completion of the First and Second Rounds of competition (both virtual), the top 8 teams will be invited to the NYSE Euronext HQ in New York for the Global Management Challenge National Final (March 25-26, 2013). The National Finalist receives prize money, recognition, and an opportunity to represent the USA at the International Final in Bucharest Romania (April 16-18, 2013).
Calendar FIRST ROUND OF COMPETITION (VIRTUAL) Event Date Material is distributed for review Friday, January 18, 2013 First Set of Decisions Thursday, January 24, 2013 by 1.00 pm (EST) Second Set of Decisions Monday, January 28, 2013 by 1.00 pm (EST) Third Set of Decisions Thursday, January 31, 2013 by 1.00 pm (EST) Fourth Set of Decisions Monday, February 4, 2013 by 1.00 pm (EST) Fifth Set of Decisions Thursday, February 7, 2013 by 1.00 pm (EST) SECOND ROUND OF COMPETITION (VIRTUAL) Event Date Material is distributed for review Monday, February 11, 2013 First Set of Decisions Monday, February 18, 2013 by 1.00 pm (EST) Second Set of Decisions Thursday, February 21, 2013 by 1.00 pm (EST) Third Set of Decisions Monday, February 25, 2013 by 1.00 pm (EST) Fourth Set of Decisions Thursday, February 28, 2013 by 1.00 pm (EST) Fifth Set of Decisions Monday, March 4, 2013 by 1.00 pm (EST) NATIONAL FINAL (NYSE EURONEXT HEADQUARTERS, NEW YORK) Event Date Tour of trading floor Monday, March 25, 2013, between 8am-9am Competition (Five Sets of Decisions) Monday, March 25, 2013, between 9am-5pm Reception & Awards Ceremony Monday, March 25, 2013, between 6pm-8pm Professional development activity Tuesday, March 26, 2013, between 8am-1pm INTERNATIONAL FINAL (BUCHAREST, ROMANIA) Event Date Five Sets of Decisions per Round (2 Rounds) Tuesday-Thursday, April 16-18, 2013
What Makes Us Unique? 1 of only 9 internationally-accredited simulation technologies in the world [teChnology- Enhanced Learning (CEL) accredited by the European Foundation for Management Development (EFMD)] Open competitive platform adds excitement and new challenge of competing in a cross- sector environment (corporations-universities-associations, etc.) Opportunity for cross-functional and mixed teams [samples: full corporate team members, full university team members, or mixed teams of corporate managers & students that cultivate mentor-mentee relationships; cross-functional teams at corporate level providescollaboration among individuals with diverse areas of focus – HR, Finance, Marketing, Production, etc.) For corporations; the Challenge is not only an internal talent/professional development tool, but it also offers a pipeline of new talent through access to and in collaboration with universities For universities; the Challenge not only provides an experiential learning opportunity for both students AND faculty, but offers access to corporate and association partners (some universities use the Challenge as development & team-building tool for their faculty and staff)
Advantages for the Participants • ACTIVE Training Method • Excellent SIMULATION of Reality Training • Teambuilding & Solution to Silo Thinking • Decisions In Different Areas • Results Appraisal • Accredited Certification• Encourages Relations Between Companies and Networking Universities Through Events • Company/University Advertising • Media Partner Coverage Image • National and International Finals • Awards • Promotion Inside the Company/University
"Global Management Challenge did not only expose us to practical knowledge in finance, human resource, operations management and marketing, it also revealed in us our truebehavior in stressful moments and indirectly taught us qualities we hardly understood like tolerance, teamwork and having aneye for detail. It is closest to the ultimate test for a well-rounded manager." Kwabena Ankomah-Kwakye, MBA Candidate (Team Bizessence, Global Management Challenge Alumnus)