Warsaw Aug. 3-7 hosted the international finals of the CIMA 2015 Global Business Challenge, an international business competition for undergraduates around the world organized by the Chartered Institute of Management Accountants (CIMA).
The event, designed to “bring out the best in the young business leaders of tomorrow,” attracted 26 teams from around the world competing to become global management accounting champions. The best teams were those representing Asia. Singapore won, ahead of India in second place and the Philippines in third place.
The competition was judged by representatives from companies including Barclays, Shell, Deloitte, Unilever, PKN Orlen S.A. and Infosys BPO Poland.
The contestants were expected to present solutions to a case study that they previously considered in the local phase of the CIMA 2015 Global Business Challenge. Only six teams, New Zealand, India, the Philippines, Singapore, the UK and Sri Lanka, made it to the second stage of the finals after coming up with the best ideas on how to solve a problem in a fictitious oil and gas company. The contestants got the chance to offer a more detailed analysis of the case study and present their findings in front of a jury of top professionals from the oil, banking and financial industries. The analysis by Team Singapore was judged the most credible.
Management accounting increasingly popular in Poland
Management accounting is steadily gaining popularity in Poland. The field combines accounting, finance and management with leading-edge techniques needed to drive successful businesses. Management accountants play an advisory role in their organizations and make a real impact on the financial, legal and ethical strategies of companies. They also support company boards in planning future moves.
“The CIMA Global Business Challenge finals take place in a different country each year,” says Jakub Bejnarowicz, Head of CEE at CIMA. “This year’s event was held in Poland, marking the first time ever the finals took place in a European country. A number of factors contributed to that, including the rapid development of the Polish CIMA, which didn’t go unnoticed by the institute’s global headquarters.”
The panel of judges included leading Polish professionals, such as Anna Tumidajewicz of Infosys BPO Poland and Robert Jasiński of PKN Orlen S.A., testifying to Poland’s increasing importance on the international arena.
“This year’s finalists made an incredible impression on me,” said Tumidajewicz, F&A Practice Delivery Manager at Infosys BPO Poland. “The level of their presentations was similar and proved the contestants’ professionalism and in-depth understanding of the case study. Students representing 26 countries, with very different professional and personal experiences and knowledge gained at their universities, showed that they can easily find their place on the international business scene.”
The students who got the chance to showcase their skills during the competition could also acquaint themselves with Polish culture and Poland’s investment potential. The event was held under the auspices of the Polish Ministry of Finance, the Ministry of Science and Higher Education, the Ministry of Labor and Social Policy, and the Polish Information and Foreign Investment Agency. Media partners included The Warsaw Voice.
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Source: The Warsaw Voice