Edition 4 of UAE Global Management Challenge is offered under the patronage of HH Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum and with the exclusive sponsorship of Al Futtaim Automotive Group.
Prestigious institutions act as partners for Edition 4 of UAE Global Management Challenge:
Knowledge Partner – Mohammed bin Rashid Al Maktoum Foundation
Strategic Partners - AIESEC, Dubai International Academic City and Institute of Chartered Accountants in England and Wales
Academic Partners – American University of Sharjah , BITS Pilani Dubai Campus, Higher Colleges of Technology and Institute of Management Technology, Dubai.
The competition attracts substantial coverage on conventional and social media besides arranging a number of events.
Corporates that sponsor staff members to take part in UAE Global Management Challenge are seen as progressive companies that provide innovative learning experience to their staff members and benefit from association with a prestigious initiative. Winning teams and their mentors get exclusive invite to the launch and the awards event where corporates have a chance to meet other similar organisations and broaden their networks and gain media attention.
The names of all the companies that send teams to this competition are linked to their sponsored teams and are showcased on the competition website from the date of their team registration to the end of the competition in April 2017.
In addition, the teams that do well in the competition and their sponsoring companies benefit from winners’ coverage in media, social media and competition events..
UAE Global Management Challenge goes beyond traditional training programs by enabling participants to “learn by doing”. In the real world “doing” or implementing ideas successfully is all that counts.
Traditional training programs revolve around faculty lead instructions with limited participant involvement. Also, traditional training programs focus on developing specific, pre-determined competencies and in providing instruction and training towards defined learning outcomes. UAE Global Management Challenge goes beyond traditional programs by providing the participants complete control over a virtual company operating in a competitive environment. This directly benefits the sponsoring corporates by developing broad based skills of their participating staff such as communication, time management, forecasting, what-if analysis. .
Ongoing training enables corporates to present themselves to their staff members as employers with vision and with long term commitment to all their stakeholders, including their staff. Participation in UAE Global Management Challenge provides participants a unique experience of managing a mid-sized company, very different from their everyday work. UAE Global Management Challenge, with its innovative form of training not only helps staff see their own work in a different perspective, it also demonstrates to them the interest and investment of their employer, fostering a sense of belonging in the staff and helps contribute to staff motivation and retention.
All participants in UAE Global Management Challenge benefit from a minimum 4-week learning which, in the case of winning teams, can extend over 6 to 7 weeks. Furthermore, each team comprises 3 to 5 participants allowing several staff members to benefit from the learning simultaneously. However, notwithstanding the extended training period and the opportunity for learning of upto 5 staff within one team, there is a set team registration charge of AED 10,000 per team. Accordingly, the cost per person for the Corporates sponsoring staff to the competition considering the length of the learning period works out as far more cost effective than the conventional training and skills development programs.
UAE Global Management Challenge places teams from one company against those of other companies and universities in the UAE. A company may enter as many teams as they wish. The results of the competition – managing a virtual company over 5 simulated quarters – are displayed on the competition website showing team performance for each simulated quarter.
The layout of the competition provides excellent opportunity for companies to assess their teams’ performance against other teams from their own company and against teams from other companies.
UAE Global management challenge offers corporates the opportunity to identify and recognise the hidden talents and competencies of their promising staff and to develop career plans for them that take into account their peculiar talents.
Participants in UAE Global Management Challenge have the opportunity to make decisions for management positions other than those they are responsible for in real life. For example, a HR manager participating in the competition may be involved in marketing and finance decisions for his/her virtual company. This helps staff members develop an understanding of the peculiarities, the priorities and the constraints of departments that they are not ordinarily aware of.
This cross functional understanding enables staff members to better co-operate with their colleagues in other departments benefiting the company in improved decision making, better teamwork and enhanced productivity.
In large companies often colleagues in one office are not aware of others working at a similar level within their and other departments. UAE Global Management Challenge provides opportunity to the participants to work in a team and ideally teams should comprise staff from different disciplines. By working in a team drawn from different departments, staff get to better know colleagues in their own company and often forge long lasting friendships.
The enhanced social contact within the staff members often helps develop informal structures within the company that facilitate internal communications and improve productivity.
A number of prestigious universities and corporates take part in UAE Global Management Challenge. During the initial stages competition participation is online, however, the competition has a vibrant presence on social media and in addition the competition sponsors arrange a number of events where the participants get to meet and interact with their fellow competitors and enhance their network.
The expansion of staff network eventually benefits the corporates that sponsor their staff in the competition by providing visibility about them to others as well as valuable contacts.