Skilled labour -
a key to achieving vision 2020
By Masahudu Ankiilu Kunateh, Ghanadot
Accra, Aug 4, Ghanadot - The
Country Director of the Global Management Challenge (GMC),
Mr. Arnold Parker has observed that for Ghana to achieve the
much-trumpeted vision 2020, training of skilled labour must
be the fulcrum of the country’s development agenda.
He added that students and graduates of the various tertiary
institutions in Ghana must be skilled and imbue the spirit
of entrepreneurship to enable them contribute to the
socio-economic development of the country.
Mr. Parker made this observation at a press conference to
outdoor the maiden GMC Ghana Edition in Accra, yesterday.
The GMC which started in 1980 in Portugal is the biggest
strategic and management competition around the world with
over 360,000 participants annually.
He disclosed that Ghana is the first country in West Africa
and the second in Africa to join the GMC and would be
competing with other 29 countries across the globe.
This year, Ghana plays host to this prestigious global event
for the first time. By this feat Ghana becomes the 30th
country to join the list of countries that host the
competition annually, Mr. Parker added.
According to him, “The Global Management Challenge revolves
around a Simulator. The Business Simulator mimics the global
business environment and has been programmed to enable
virtual companies compete as if there were real life
businesses. All the virtual companies in the Simulator are
listed on a virtual stock exchange. The simulated Stock
exchange becomes the barometer for determining the
performance of the virtual companies”.
Participation is open to students of tertiary institutions,
Management trainees of companies and individuals aspiring to
train themselves in strategic business Management and
To participate, you will need to form or join a team with
minimum of three to five persons and register as a team.
Consequently, a virtual company will be created for each
registered team and members of the team become the
management board of their respective companies.
The goal of each team is to obtain the highest share price
for your company on the simulated stock exchange.
To do this, team members will have to take decisions in four
key functional areas of their company; Marketing,
Production, Human Resources and Finance.
By managing a company without running real-world risks, and
taking top management decisions, the GMC competitors are
given the opportunity to: analyse Financial and Economic
Indicators and their impact on businesses,
broaden their views on Corporate
Strategy , understand the intricacies of the different
functional areas of a Company, understand the Market
Conditions in which companies compete and the importance of
customer satisfaction to businesses and become aware of the
impact of their Decisions on the company itself within an
environment designed to encourage and develop team work.
Most importantly, the GMC will afford Ghanaian youth the
opportunity to learn at first hand how to develop a global
vision for a company and manage such a company.
The Country Director indicated that “You have heard and read
it all. Been to all the business seminars and read all the
business books. Now is your chance to take charge of a
company and prove your worth”.
Mr. Parker announced that a team which emerges as the first
in the Ghana Edition would receive a package of GH¢20,000 in
addition to GH¢5,000 cash, a set of business books, a
plaque, a certificate of participation and full sponsporship
to the global finals.
While, the second team will take home a GH¢2,000 cash, a set
of business books, a plaque and certificate of
participation, whilst the third winning team also receive a
cash of GH¢2,000, a set of business books, a plaque and
certificate of participation.