Spearheading forward thinking efforts to bridge gaps and create synergies between academia and industry, the Qatar Finance and Business Academy (QFBA) is partnering with Adnar Group to offer in Qatar the world-class Global Management Challenge (GMC), in 2015.
An international competition built and designed around simulation and strategy-based training tools and models, the GMC enables professionals the world over to challenge each other in a fierce environment, a lifelike stringent marketplace setting and conditions that mimic and echo economic global dynamics.
GMC participants engage in an intense, multi-round competition during which they run a virtual company and drive its profitability and growth towards achieving the highest investment performance and share price in a simulated stock exchange.
As such, participants are offered insight and an understanding of real marketplace dynamics, and firsthand experience in making a practical corporate strategy, planning for contingency among other, managerial, operational and financial decisions. Their decisions and activities are then analyzed by the simulator for a financial and operational assessment of the company.
Commenting on the academy’s partnership in Qatar for the competition, Dr. Abdul Aziz Al Horr, CEO at QFBA, said: “The GMC aligns with QFBA’s mission and vision to act as an enabler for organizations and professionals for skill development. At the crux of all our innovative learning and development solutions lies a baseline of three interconnected objectives: raising the bar for the financial sector’s human capital, bridging the gap between academia and market needs and, empowering professionals with the needed skillsets, qualifications and other competency based arsenal for career growth. Among our collaborative efforts with international bodies, consulting firms and niche training solution providers, the GMC functions as a unique cutting edge training tool driving strategy and team oriented skill development..This is one of the many projects we will be leading in this direction.”
Echoing Dr. Al Horr’s sentiment, Ms. Randa Haider, MD at Adnar Group, added: “Our partnership with the QFBA and GMC is a testament to the lightning speed at which today’s global, knowledge-based economy is moving. At a time when technology is moving with this pace and markets become increasingly demanding of highly skilled, specialized and polyvalent professionals, it is imperative that talent development programs are continuously abreast with industry dynamics and realities. We’ve entered an era of globalization, knowledge exchange, and real time experimentation; all of which have materialized very aptly in the GMC.”
Established in 2009, the QFBA, a subsidiary of the Qatar Financial Authority (QFCA), is guided by a chief mission to create a knowledge-based economy powered by a world-class talent pool and competency standards. Today, it operates around five Centers of Excellence (COE): Public finance, Islamic finance, Competency and Training framework, Customer Management and Innovative Learning Solutions.
Thirty years in the running, the GMC is the biggest global business competition, having brought together more than 500,000 managers and university students from across the world. Now in its third edition in Qatar, it continues to attract the country’s leading companies and universities. This year’s GMC winning national team will be representing Qatar among other competing nations at the 2016 International Final in Macau, China.