While our university as the organizer of the international competition in management control of firms - Global Management Challenge is preparing another year of the competition, Russian Sochi is hosting the international finals of the previous year. VŠFS sent its Czech and Slovak winning team. The expedition is accompanied by Petr Budinský, guarantor of the competition and vice-rector of the university. We kindly asked him to report directly from Sochi:
„From 16 till 18 September, Sochi is hosting the international finals of Global Management Challenge. The finals are attended by 22 teams from all over the world, including the teams from the Czech Republic and Slovakia. The sponsor of both teams is J&T Bank which is also the general partner of the competition in the Czech Republic and Slovakia. On Tuesday, 16 September, festive opening of the international finals took place where the teams were drawn into four groups. The Czech Republic and Slovakia were drawn into six-member groups, the two remaining were five-member groups. Competitors to the Czech Republic in our blue group were: Cameroun, Hong Kong, Ivory Coast, Portugal and Romania. Slovakia in the yellow group competed with Ghana, Kuwait, Mexico, Qatar and Spain. The red group was considered by all the participants a group of death considering the fact that it was made up of following teams: Russia (the winner of two years ago), Poland (the second team of the last two years), China (the third team of last year) and other strong teams of Macao and Turkey. The green group was represented by teams from Brazil, Estonia, Greece, India and the United Arab Emirates.
This is the third year that our university has been organizing competition Global Management Challenge, both in the Czech Republic and Slovakia. However, this is the first time that the teams of the Czech Republic and Slovakia have not been drawn into the same group. All twenty-two teams competed in the semi-finals on the premises of Russian International Olympic University on Wednesday, 17 September. The first two teams from each group then advanced to the eight-member finals. These teams were announced during the ceremonial evening on Wednesday. Romania and Ivory Coast advanced from the blue group; unfortunately the Czech team did not advance. Ghana together with Slovakia advanced from the yellow group. Russia and China advanced from the red group and Brazil and India from the green group. The finals of the competition will take place on Thursday, 18 September and the winners will be announced during the ceremonial dinner approximately at 10pm.
During the international finals in Sochi, a number of meetings took place that were attended by Emil Šenkýř, chairman of the management board and vice-rector Petr Budinský on behalf of the University of Finance and Administration. During the meeting of partners that took place on Wednesday, 17/9, they presented the business model of GMC competition in the Czech Republic and in Slovakia and the course of preparations of the next international GMC finals. This event is going to take place in Prague from 21 till 23 April 2015. General partners of these international finals will be J&T Bank and Škoda Auto.“
