The Global Management Challenge is the largest Strategy and Management Competition in the world. It’s the largest international event based on business simulations, with more than 500 000 university students and company managers participating in this event throughout the world.
The competition which is a virtual business simulation kicked-off recently at the University of Lagos and has eighty students with not less than a CGPA of 4.30 across different departments from the institution sponsored by Coca-Cola. They will compete for the team to represent Nigeria in the upcoming international final in Dubai in April 2018.
Speaking at the event, Public Affairs and Communications Manager for Coca-Cola, Nwamaka Onyemelukwe, applauded the participating students on the life-changing opportunity given to them with the initiative, emphasizing that the competition will further prepare the students even better for the outside world after graduation. “Doing the right things requires knowledge, understanding and experience. This competition will offer the perfect synergy between knowledge, intelligence and the right experience to be good managers in the future. I will like everyone involved in this great competition to open their minds as this will be very helpful not just in school but also in the future,” she said.
In furtherance to driving a more interactive and engaging environment for the students, Coca-Cola recently commenced major Centre of Excellence activations in selected Universities across the country with academic support for the financially challenged, renovation of cafeteria facilities and building recreational centres. Students in University of Lagos were honoured with the attractive branding of campus halls and several relaxation spots, while also enjoying free internet access in specific cafeterias and relaxation spots.
Peter Ekunkoya the Head of Customer and Commercial Leadership stated that Coca-Cola is committed to empowering and providing youths with basic life and business skills to thrive in whatever they do. “We are committed to impacting the school academically such that whatever we do with them now further prepares the students even better for the outside world after graduation and this is why we are launching the Global Management Challenge (GMC) for the first time in Nigeria to help prepare Nigerian youths by improving their business skills,” he informed.
Also speaking at the event, Associate Professor and Director, Entrepreneurship and Skills Development Centre, University of Lagos, Dr Sunday Adebisi, commended Coca-Cola for bringing the initiative to the develop the students. “I am very happy that the company brought up the challenge and initiative for the students; even if they were still in school, it will help them to be smarter and make wiser business decisions in the future. I will implore the students to be focused and aim for the best during the competition,” he remarked.
The Global Management Challenge coordinator Mr. Ryan thanked the school authorities for the level of professionalism and support received throughout the conceptualization of this programme. He explained that the participating students will form 20 teams of 4 members each. The teams are then given a virtual company, initially identical to every other company in the competition. Each team then develops their company by making a series of decisions relating to every aspect of the business.
These decisions made on the Decision Sheet are run through sophisticated business simulation software, which generates in-depth Management Reports, showing the consequences of the decisions. The aim is to finish the game with the highest share-price on the virtual stock exchange.