Luanda - Training for the teams taking part in the 17th edition of the international business strategy and management competition, called the Global Management Challenge (GMC), begins on the 25th of the current month in the Angolan capital city, the director of the company promoting the event, João Pereira, said Wednesday in Luanda Province.
The competition, whose first phase will take place from 1 to 9 July in Luanda, is for teams of university students and professionals from various sectors to manage a virtual company, developing skills in management, strategy, decision-making and teamwork, using an advanced simulator.
According to the representative of the Soik Investment, the second phase of the competition, which brings the environmental issue as an innovation, is scheduled for 11 to 22 July this year, with the final phase taking place on the 24th of the same month.
Speaking at the press conference, he said that the team that wins first place will receive one million kwanzas, as well as representing Angola in the international final in 2025, to be held in a country to be nominated by the organization, while second place will receive 750,000 and the third 500,000 kwanzas.
On the other side, competition jury member Carlos Rosado said that the companies listed on the stock exchange have shares and investments open to the public, which can serve as complementary training for the students.
The official, who is also an economist, stated that the competition is interesting, because it simulates without pressure, in an almost real environment, as well as motivates the business team spirit.
Registration for the competition is open since February 5th this year and closes on the 21st of the month. So to participate in the event it is necessary to create a team made up of three or five members who will work in groups as well as paying 50,000 kwanzas as registration fee.
This edition already has 243 registered teams, coming from various universities and companies in the country.
In this competition, each group constitutes a market that acts as a board of directors and makes decisions, such as financial and marketing, in which the teams compete against each other.
The event, divided into four phases, involves students from universities, as well as public and private companies.
The company Soik Investment has been holding the event in Angola since 2007, having hosted the last edition in 2023, the year in which the country came third in the final.
This edition was won by China, while Russia came in second place, in a universe of around 15 countries.
The organization wants more Angolan companies to get involved in this project, to promote the development of future leaders, in ways to strengthen the connection between the academic and business sector.
Founded in Portugal around 47 years ago, GMC has already involved more than 650,000 company staff and university students in more than 30 countries.
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