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What is Global Management Challenge mean?
Global Management Challenge (GMC) is a strategic management competition for managers and university students. Participants form teams of 3-5 members, and each team is placed in a group of 5-8 teams, depending the competition. 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, such as how many machines to buy, or how much to spend on advertising. In each round, five sets of decisions are taken, corresponding to five quarters. A quarter is a period said to span three months.
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.
The competition is divided into rounds with usually 3 or 4 rounds on national level and 2 rounds on international level. The number of national rounds can vary in each country and depends on number of participants. Some countries use slightly different approach and combine Global Management Challenge with other competitions. In India teams compete in another competition which is more sector related (e.g. they run a car manufacturing company) and the last 8 teams join GMC national final. Also in Germany the participants play GMC only in their final round. As it might seem interesting it brings disadvantage to those teams because they are not so familiar with the simulation compared to other teams on the international level.
referencePosted on 10 Jan 2025, this text provides information on Miscellaneous in Academic & Science related to Academic & Science. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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