Most firms take up more CSR projects
Dubai, March 11, 2014
About 72 per cent of Middle Eastern companies are moving towards more sustainable corporate social responsibility (CSR) projects, said Mercer, a leading HR consulting agency.
CSR is becoming an ‘important competent of business strategy’ for 86 per cent of the companies, it said.
United Foods recently sponsored four teams from the American University of Sharjah to take part in the UAE Global Management Challenge, a leading strategy and management competition.
Mohammed Alowais, vice chairman, said: “CSR is slowly becoming part of our key strategy in business and we wanted to choose a project that would have lasting effects. We are proud to be sponsoring students to enter this competition not only because this is an international platform that will provide them with several opportunities but also because of the practical tools and knowledge that they will gain.”
The challenge consists of a management simulation in which teams of three to five people, comprising university students and corporates, are given complete control of a virtual company with the objective of obtaining the highest investment performance for its shareholders.
The competitors analyse financial and economic indicators, expand their views on corporate strategy, interact with functional areas of a company and gain an in-depth understanding of the market conditions in which their companies compete.
Mian Muneer Uddin, managing partner of Beaufort Associates, the consulting and advisory services firm that brought the GMC to the UAE, said: “It is encouraging and uplifting to see education take off as a CSR initiative because of the influence it will have on the students.”
“The challenge will equip professionals and students with the necessary skills to tackle financial problems whilst transforming them into potential leaders.”
The challenge was officially launched in September and encourages professionals and students to take part. Currently 63 teams comprising 290 participants are taking part in the round 1 of the competition.
The winning team, who will be the ‘UAE Champion’, will then compete with counterparts from several countries for the world title, to be held in Sochi in April. - TradeArabia News Service