Middlesex students, Team Revenution, emerged victorious at the regional finals of the CIMA Global Business Challenge 2015 on June 14. Mind you, the international business competition held by the Chartered Institute of Management Accountants in partnership with Barclays, is no easy task, but that’s precisely how it can mould you.
Based on a real-life CIMA business scenario in the oil and gas sector, teams of four were given the task of making tough decisions and finding solutions in sticky situations; environmental, ethical with both long-term and short-term financial considerations. Much like the real world, participants had to make calculated decisions and convince the board [the jury] of the actions they proposed.
Team Revenution from the Middlesex University, comprising Rini Jacob, Sarita Rani, Macy D’sa and Mihika Arun, elegantly maneuvered the problems and will now represent the Middle East region at the global finals in Warsaw, Poland, in August 2015.
The members of team Revenution shared a valuable skill they acquired through this experience:
“We learnt what to look for when making a business decision [amidst the many competing routes] and provide strong evidence to support our recommendations, much like we will for our jobs at some point.”
B-Change spoke to the Accounting and Finance majors to see what they gained from the challenge:
1. Marks you as a leader for the corporate wild
At the University level, this challenge expects you to understand and make decisions business leaders have to make in the real world, with real money at stake, and real jobs in the in the balance. It is far off from textbook learning. While University teaches you how to create financial statements, this challenge will give you a taste of what it’s like to read, analyze and make important make-or-break business decisions based on those numbers.
Andrew Harding, Managing Director of CIMA, said: “The Global Business Challenge helps us identify the next generation of business leaders, nurture their abilities and provide them with a unique career-enhancing experience.”
2. Increases employability
While every student we spoke to mentioned the incomparable value that this challenge adds to your resume, the developmental value was highlighted the most.
A student from Team Pioneers of Sultan Qaboos University, Oman, said that she felt unusually sure of herself during recent a recent internship interview, came across as confident and believed in her analytical ability to soar through the written exam [She got offered the internship on the same day and got various other offers].
3. Forces you to face your fears
A few students, before the prep for the competition, were victims of stage fright. Terrified of public speaking, they said they felt comfortable on stage for the very first time during the final presentation because of a supportive team structure.
4. Teaches you to keep truce: [Learn to be assertive and diplomatic]
Another third year student of team Business Tycoons representing Heriot Watt, said:
“See, teamwork is not always about saying yes to what the others are saying – that’ll limit your creativity. It’s this intense intellectual sparring and at the end, when you all agree to one solution, you know it’s the best one.”
5. Provides a practice field for the art of juggling
Emerging through this challenge, it toughens you up mentally. Reportedly, you know you can handle the pressure of having to do a million things in a limited space of time. A third year student of team Business Tycoons representing Heriot Watt, explained how time management and hard work requires practice:
“We left our houses at 6:30am every day, 6 days a week, and we’d spend about 9 hours in University discussing and debating the material, making financial statements. We had exams during the week of submission and it was hectic. It was insane fun though.”
Have you participated in the CIMA Global Business Challenge? Tell us about your experience in the comments below.
For more information about the CIMA GBC, visit their website.