The Challenge

The Global Management Challenge consists of a strategic management simulation competition, in which each team runs a virtual company with the objective of finishing with the highest company share price on the simulated stock exchange.  Teams of 3 to 5 persons are formed and compete by taking decisions in the areas of marketing, sales, production, human resources and finance, knowing that the other competing teams are operating in the same market and selling the same products. Unlike other simulation competitions, the decisions of each team influence the market’s reaction as this happens in the real world as well as the future performance of the other competing teams.

HOW DOES THE COMPETITION WORK?

The simulation is on-line based.

  • Each edition begins with a team draw. The teams are organized into groups (each group with a maximum of 8 Teams). Each group creates a competitive market in which the teams compete with one another.
  • Each team receives the company history including the management reports of the last five quarters.
  • Outlines a corporate strategy
  • Launches its strategy by making functional decisions in different areas of the company (Marketing, Production, Human Resources and Finance)
  • Then, it submits its Management Decisions (Decision sheet) to the Simulator via the Internet.
  • The Simulator then analyses and compares the teams' decisions and produces a Management Report for each team, showing the detailed results in financial and operational terms.
  • This process is repeated over five decision periods during the competition, simulating a year and a quarter of the company’s activity.

The Global Management Challenge consists of 4 stages:

  • First Round
  • Second Round
  • The Winning Team of each group in the First Round proceeds to the Second Round.
  • The Winning Teams in the Second Round compete in a National Final.
  • Every year, there is an International Final of the Global Management Challenge, in which the Winning Teams of each participating Country compete with one another.

The flowchart below shows a complete cycle of the Challenge:

COMPETITION MATERIAL

  • Manual: explains the organization and functions of the company and provide generic guidance to prepare for the competition. Click the pdf version or the word document version to download the competition manual
  • Briefing: consolidates the manual by offering a brief summary of the structure and strategy of the competition. In order to do well and get the most out of your experience, it is very strongly recommended that you download this PowerPoint presentation and familiarize yourself with its contents prior to begining the competition
  • Company history: the management reports from the previous five quarters will provide strategic information on the company's performance. Click here for a sample quarterly management report
  • Decision sheet: submits the management decisions to the simulator, within a restricted area of the organizer’s web site. Click here for a sample decision sheet
  • Management report: produced once the simulator analyses and compares the teams' decisions showing the detailed outcome in financial and operational terms. Click here for a sample management report
  • Other (materials required):  computer, internet access with minimum speed/bandwidth capacity, calculator, stationery, and an ability to print competition reports   
  • Debriefing: enables you reflect on the lessons learned from the expereience. In order to appreciate and maximize the benefit of your experience with the Global Management Challenge, it is strongly encouraged that you get together with your teammates at the end of the competition for a final assessment of your performance using the framework provided in this Debriefing Tool (and please be sure to review the Debriefing Guide for instruction on how to use the tool)

Using the team's username and password, within the restricted area of the organizer’s web site, the teams submit their management decisions and consult/download their management report.

At any time, all the teams can consult the company history, the manual, the competition's calendar and the teams ranking for each decision period, in the organizer’s web site.

 

RULES 

  1. The Global Management Challenge is a strategy and management competition Operated in Ghana by Sankofa Worldwide, LLC.
  2. The Global Management Challenge has a jury which shall make decisions, which are final, independent and irrevocable, on all matters, uncertainties or disputes relating to procedure, classifications and the attributing of prizes related to the competition.
  3. The Global Management Challenge 2012 includes two phases: one national phase in two rounds and a national final, and one international phase where the winning team of the national phase will represent Ghana in the International Global Management Challenge (refer to Rule 12).
  4. The Global Management Challenge will take place in accordance with the schedule published on the web site. The event organizers reserve the right to change the expected dates for the Decisions in the case of unforeseen circumstances, including for example, but not limited to, failures of the ISP (Internet Service Provider) which hosts the event organizer’s website. Any changes to the schedule shall when practical be notified to all team leaders by email to all the addresses notified by the same when registering.
  5. In the First Round, all the teams registered shall be identified by numbers and assigned by groups, through a draw. The teams passing to the second round shall be reallocated through a new draw.
  6. Each round of the Global Management Challenge includes five set of decisions corresponding to five “Quarterly Management Reports”.
  7. At the end of each round of the Global Management Challenge, the Jury shall confirm as the winner of each group the team which, in its respective group, obtains the highest price for its “company’s” shares, thereby proceeding to the next round.
  8. If, within the same group, several teams achieve the highest price per share, first place shall be attributed to the one which, in the last set of decisions of the respective Round, obtains the highest positive value for the Net Worth position (refer also to Rule 11).
  9. The National and International Finals of the Global Management Challenge shall be held at a hotel, corporate facility, or alternative appropriate venue. The teams are not allowed to contact each other, except at lunchtime. Failure to respect this rule shall result in disqualification.
  10. The attribution of prizes, whether individual or team-based, relating to the National Final requires the attendance and participation of the team members (properly identified) at the respective event, as well as at the International Final Event.
  11. The prize for the Winner of the national phase of the Global Management Challenge shall be attributed to the team which achieves the highest share price for its “company” in the last Decision of the National Final (refer also to Rule 8).
  12. The winner of the National Final will represent Ghana in the International Final of the Global Management Challenge. The winning team shall, at least thirty days before the date fixed for the International Final or immediately after the national final (i.e. if the national final date is less than 30 days from international final), confirm the availabilityof all its team members to participate in the International Final of the Global Management Challenge. If all of the team members are unable to participate, the organization represented by the team shall appoint another competing team to replace the winner (refer to Rule 10). In the event that such an appointment does not take place within thirty days before the date of the International Final, the event organizers reserve the right to nominate the team that is to participate according to the order of classification of the National Final.
  13. In order to participate in the Global Management Challenge, the teams must complete a registration form which shall only be accepted if properly filled out and validated by the event organizers by the date of the start of the Competition.
  14. Each team in the Global Management Challenge must have a minimum of three, and a maximum of five members.
  15. The composition of each team is personal and exclusive in its nature, with it being expressly prohibited to form teams including members who are simultaneously registered in other teams of the competition.
  16. The provisions of the preceding rule apply to all the teams, and in all the phases / rounds of the competition.
  17. Irrespective of the competition phase, a breach of the provisions of rule 15 shall result in the immediate and automatic disqualification of all teams having a composition which does not respect its terms.
  18. Any changes to the members of the teams must be communicated to the event organizers, in writing, before the third Decision of the Opening Round, without prejudice to the provisions of the final part of rule 17.
  19. If one or more teams qualifying for the Second Round or the National Final withdraws, they may be replaced by the team(s) in the respective qualification group(s) with the next highest classification.
  20. Each team must complete and send its Decisions via (internet) www.ghanamanagementchallenge.com in compliance with the competition schedule. Failure to do so, (and in particular, internet failures and/or other reasons not attributable to the event organizers), default values, as described in the Manual, shall be automatically entered as that team’s decisions. Teams that do not send at least three of the five set of decisions in each round of the Global Management Challenge are automatically disqualified from the Competition.
  21. Each team is responsible for checking that its decisions, as reproduced in the Management Report, are correct and correctly sent. Possible errors arising from the transmission / receipt of the data relating to the decisions (for example, the corruption of files), can only be corrected if reported to the event organizers within a maximum period of 24 hours after of the Management Report is made available on the designated site.
  22. Applications shall not be accepted for the Global Management Challenge from persons not residing in Ghana and from present or past employees of Sankofa Worldwide, LLC.
  23. At the time of registration, each team member must declare that it has knowledge of the content of these rules and the respective manual provided to it, expressly recognizing that all the decisions relating to the interpretation and application of these rules shall be exclusively decided by the jury. Each participant acknowledges and expressly accepts that the decisions made by the jury are final and irrevocable in nature, and are therefore not capable of being appealed or opposed.

NATIONAL FINAL

The second edition of the Global Management Challenge Ghana National Final will be held on Friday, 8 March, 2012 in Accra, and will bring together the top 8 performing teams, media representatives, and sponsors and supporters. More information about the event will be communicated in due course.

INTERNATIONAL FINAL

The International Final will be held on 16-18 April, 2013, in Bucharest, Romania, and will bring together National Champion teams from around the world. More information about the event will be communicated in due course.

AWARDS

Participants in the Global Management Challenge have the opportunity to benefit from the following awards/recognition opportunities:

CHAMPION TEAM

  • 3,000 GHS*
  • Roundtrip airfare to travel to the International Final in Bucharest, Romania
  • Trophy/Plaque and public recognition (media and web site)
  • Personalized certificate for each member with EFMD accreditation logo

SECOND AND THIRD PLACE TEAMS

  • Trophy/Plaque and public recognition (media and web site)
  • Personalized certificate for each member with EFMD accreditation logo

ALL OTHER TEAMS

  • Public recognition (media and website)
  • Personalized certificate for each member with EFMD accreditation logo

*Applicable to paid registrations only.