The 34th international finals for the Global Management Challenge (GMC) competition concluded recently in Doha.
The initiative was hosted by Qatar Finance and Business Academy (QFBA) in co-operation with Adnar Group from April 10 to 12.
The final results of the GMC competition saw the national team of Macau take the lead and score the highest level of investment performance during the international finals, culminating in its crowning as the ‘GMC winner of the year’.
The awards and gala dinner ceremony was held under the patronage of the Deputy Governor of Qatar Central Bank, HE Sheikh Fahad Faisal al-Thani, who handed over the awards to the Macau, Russia and China teams for finishing first, second and third, respectively.
The GMC competition was founded in Portugal in 1980 and is now the “biggest strategy and management competition worldwide, which is embraced by more than 30 countries”. The competition arrived in Qatar in 2013.
The GMC international finals for 2016 witnessed strong competition between teams from a number of countries, including Qatar, Angola, Brazil, China, Cape Verde, Czech Republic, Estonia, France, Greece, Hong Kong, India, Kenya, Kuwait, Macau, Mexico, Morocco, Poland, Portugal, Russia, Senegal, Slovak Republic, Spain and the UAE.
The finals have taken place under conditions that mimic the reality of the global economic mobility, giving participants a vision and profound understanding of the changes in the real market, as well as a direct experience in the process of creating a corporate strategy, contingency planning and a range of financial, operational and administrative decisions, according to a press statement.
Each national team attempted to record the highest score of investment performance, following which a simulator analysed the decisions of each team and determined the financial and operational results achieved by the virtual companies.
Randa Haidar, chairperson of Adnar Group (regional organiser), said: “Our collaboration with QFBA has been a landmark achievement, as we have successfully concluded the international finals of the prestigious Global Management Challenge in Doha, which is the first time this competition has been organised in one of the countries in the GCC, Arab world and Mena region.
"We have exceptionally succeeded at raising the bar for the standards of development and support of professional talent in Qatar and the region by presenting prevalent trade and economic challenges before the participating teams, who have positively interacted with them and performed at the required level.”
Dr Abdul Aziz al-Horr, CEO of QFBA (organising partner), said: “We are very pleased with the results we have achieved - in co-operation with the Adnar Group - over the two days of the GMC international finals, for the winning teams from participating countries. Our success was unique in embracing the brightest future commercial and economic minds through this global event, which is organised for the first time in Qatar and the entire Arab region, reinforcing Qatar's role as a strong regional supporter of skills and talent development."
He congratulated the winners and participants and also thanked HE the Minister of Finance Ali Shereef al-Emadi for his presence and sponsorship of the opening ceremony, and HE Sheikh Fahad for his attendance at and sponsorship of the awards and gala dinner ceremony.