The Czech and Slovak finals of the GMC competition finished last week. The first time in its history it was the College of Finance and Administration which organized it. Both winning teams are awaiting a competition for the firt place in the finals, which will take place in Kiev in the second half of April.
The finals took place in the building of the College of Finance and Administration. The resulting ceremony took place in Brožíkův sál in Staroměstská radnice (a townhall of Prague 1), on Tuesday, March 27, 2012. The four member team, representing Masarykova Univerzita of Brno, became a winner. During the competition, this team was supported by the company of Seznam.cz. The struggle for the first place was gripping till the end – the team of Západočeská univerzita was on the lead till the final round. They lost the first place by an eight thousandth difference in a share price. Thus, at the anouncement of a winner in Brožíkův sál, people experienced great emotions. As usual, MBA studies at City University of Seattle for all members of the winning team were the first price, which was provided by the organizer. A range of other valuable prizes was donated by other partners and patrons of the competition, among all, by general partners OVB Allfinanz ČR and Seznam.cz.
There were 64 teams participating in the Czech Republic. After five decisions of the first round, eight best ones were chosen for the finals. The winner of the national round, which took place on the grounds of the College of Finance and Administration, won the first place with a 1.380 EUR share. In the competition there were 16 colleges and universities participating under the patronage of nine companies.
The Slovak finals and announcement of a winner took place on the same day, on Thursday, March 29, 2012. The College of Management/City University of Seattle hosted the national finals. Only seven teams participated in the finals. The four member team of Univerzita Komenského won the finals, even though it kept taking turns in the lead during the whole competition with the mixed student-staff team. A company Zoznam.sk. sponsored the winning team. The ceremonial announcement of a winner took place in the hotel Radisson Blu Carlton in Bratislava. The first price – MBA studies for all members of the team, was donated by the main sponsor of the competition – the College of Management/City University of Seattle. The other sponsors like OVB Allfinanz SR and Zoznam.sk also provided interesting prizes. There were 22 teams participating in the Slovak competition, out of which eight best ones were chosen for the national finals. The winner reached a 1.152 EUR share. There were teams of four universities participating in the competition, which were sponsored by six companies.
The Global Management Challenge competition tests theoretical and practical managerial skills of students and at the same time it teaches them to accept consequences of their decisions. It is only up to them if a virtual company, who they manage, will succeed on the chosen markets. The main advantage of this competition is that students have a chance to cooperate with prestigeous companies. These get involved through the sponsorship but they also serve as patrons supporting their teams. The companies provide participants with their professional consulting and they induct them into the principles of managing companies. Decisions themselves are, however, up to the students.
This year, the companies OVB Allfinanz ČR and Seznam.cz became the general partners of the competition. In Slovakia it was then OVB Allfinanz SK and Zoznam.sk. For more details see the web page of the competition www.czechgmc.cz and www.slovakgmc.sk.
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