Global Management challenge launched
A NEW business competition that offers the youth the opportunity to grow virtual businesses and acquire skills for managing their own businesses has been launched in Accra.
Known as the Global Management Challenge, it is the world’s largest strategy and management simulation competition which has had more than 450,000 university students and corporate executives as participants throughout the world in the past 30 years.
As part of the competition, teams made up of three to five students or corporate executives are formed to run a virtual company, with the objective of finishing with the highest company share price on the simulated stock exchange.
The teams compete by taking decisions in the areas of marketing, sales, production, human resources, finance, research and development, knowing that the other competing teams are operating in the same market and selling the same products.
Launching the competition, the Deputy Minister of Youth and Sports, Mr Nii Nortey Duah, stated that unemployment remained a major headache for the government.
He said the years of experience demanded by employers as a condition before the youth were offered jobs was partially responsible for the high graduate unemployment rate in the country.
"How can the youth be employed if we are asking them for experience they are yet to get after school," the deputy minister asked.
He commended the organisers of the competition and said it would go a long way to build the capacity of the participants to acquire skills that were not available in the classroom.
Mr Duah assured the country's youth of the government's commitment to creating the enabling environment for the creation of jobs. He also pledged the ministry's support to the competition so that it could achieve its objectives.
Mr Pedro Alves Costa, President and Chief Executive Officer (CEO) of the Global Management Challenge (Portugal), noted that the competition had been successful in transforming young people into business moguls.
He said the contest offered its participants professional skills development, including team building, branding opportunities, networking, corporate citizenship and simulation of reality.
In his remarks, the Executive Director of the Association of Ghana Industries, Mr Seth Takyi, said the organisation was committed to any concept that would promote the development of the youth and he hoped that it would be a breeding ground for budding young entrepreneurs.
The Global Management Challenge Ghana is organised by Sankofa Worldwide Ltd and is managed by a highly qualified team of professionals with over 30 years of expertise in human resources, higher education, entrepreneurship and leadership development, corporate social responsibility, event management and banking, and who also have working experience in Ghana and 50 countries around the world.
The concept of the competition was developed in 1980 in Portugal by SDG – Simuladores e Modelos de Gestão – in partnership with the weekly Expresso newspaper.
In Ghana, the inaugural Ghana national final will be held in Accra on March 8, 2012 and the winning team will represent Ghana at the international final scheduled for April 18-20, 2012 in Ukraine.
There are currently 36 countries participating in the competition. These are: Angola, Australia, Belarus, Belgium, Benin, Bolivia, Brazil, Czech Republic, Denmark, France, Germany, Ghana, Greece, Hong Kong SAR (China), Hungary, India, Italy, Ivory Coast, Latvia, Macao SAR (China), Mexico, People's Republic of China, Poland, Portugal, Puerto Rico, Romania, Russia, Singapore, Slovak Republic, Spain, Turkey, Ukraine, United Kingdom, United States and Venezuela.
Known as the Global Management Challenge, it is the world’s largest strategy and management simulation competition which has had more than 450,000 university students and corporate executives as participants throughout the world in the past 30 years.
As part of the competition, teams made up of three to five students or corporate executives are formed to run a virtual company, with the objective of finishing with the highest company share price on the simulated stock exchange.
The teams compete by taking decisions in the areas of marketing, sales, production, human resources, finance, research and development, knowing that the other competing teams are operating in the same market and selling the same products.
Launching the competition, the Deputy Minister of Youth and Sports, Mr Nii Nortey Duah, stated that unemployment remained a major headache for the government.
He said the years of experience demanded by employers as a condition before the youth were offered jobs was partially responsible for the high graduate unemployment rate in the country.
"How can the youth be employed if we are asking them for experience they are yet to get after school," the deputy minister asked.
He commended the organisers of the competition and said it would go a long way to build the capacity of the participants to acquire skills that were not available in the classroom.
Mr Duah assured the country's youth of the government's commitment to creating the enabling environment for the creation of jobs. He also pledged the ministry's support to the competition so that it could achieve its objectives.
Mr Pedro Alves Costa, President and Chief Executive Officer (CEO) of the Global Management Challenge (Portugal), noted that the competition had been successful in transforming young people into business moguls.
He said the contest offered its participants professional skills development, including team building, branding opportunities, networking, corporate citizenship and simulation of reality.
In his remarks, the Executive Director of the Association of Ghana Industries, Mr Seth Takyi, said the organisation was committed to any concept that would promote the development of the youth and he hoped that it would be a breeding ground for budding young entrepreneurs.
The Global Management Challenge Ghana is organised by Sankofa Worldwide Ltd and is managed by a highly qualified team of professionals with over 30 years of expertise in human resources, higher education, entrepreneurship and leadership development, corporate social responsibility, event management and banking, and who also have working experience in Ghana and 50 countries around the world.
The concept of the competition was developed in 1980 in Portugal by SDG – Simuladores e Modelos de Gestão – in partnership with the weekly Expresso newspaper.
In Ghana, the inaugural Ghana national final will be held in Accra on March 8, 2012 and the winning team will represent Ghana at the international final scheduled for April 18-20, 2012 in Ukraine.
There are currently 36 countries participating in the competition. These are: Angola, Australia, Belarus, Belgium, Benin, Bolivia, Brazil, Czech Republic, Denmark, France, Germany, Ghana, Greece, Hong Kong SAR (China), Hungary, India, Italy, Ivory Coast, Latvia, Macao SAR (China), Mexico, People's Republic of China, Poland, Portugal, Puerto Rico, Romania, Russia, Singapore, Slovak Republic, Spain, Turkey, Ukraine, United Kingdom, United States and Venezuela.
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