UIU team wins 2nd place at Global Business Simulation Challenge – RETO 2024
'Team A' from United International University (UIU) won 2nd place in the Global Business Simulation Challenge – RETO 2024 organised by The Company Game.
The final round of the competition was recently held in Barcelona, Spain, through a virtual platform, reads a press release.
The RETO Business Simulation Challenge, a prestigious competition that attracts universities worldwide, simulates real-life economic and business processes, allowing participants to manage a business in a virtual setting.
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This year's competition saw participation from over 30 countries, including Spain, Colombia, Ecuador, Peru, Mexico, the USA, the UK, and India. After the initial round, 14 teams from UIU advanced, competing against over 175 universities globally.
In the category phase, the competition required deep dives into specialized areas. For instance, marketing teams developed pricing strategies and promotional activities for products like game consoles, tablets, and smartphones, while finance teams made decisions on capital structure and investment opportunities for other products.
'Team A' from UIU showcased an impressive performance in the RETO Business Simulation Challenge. They excelled in the marketing category, securing 1st place, which qualified them for the championship phase. In the finale, 'Team A' achieved 2nd place among the top eight teams from the UK, India, Mexico, Peru, and Bangladesh. They managed a hypothetical company producing shoes, handbags, and accessories, requiring interconnected decisions across various business aspects, balancing immediate concerns with long-term strategic goals.
The participants from 'Team A' – Mr. Abir Mohd Shad, Mr. Jayanta Sarker, and Ms. Asia Bagum – three talented students from the UIU School of Business & Economics, performed exceptionally. As a result of their performance, each member of 'Team A' received a scholarship covering up to 85% of tuition fees for master's or MBA programs at GBSB Global Business School, Spain, a diploma certificate of Business Excellence, and a $600 Amazon gift card.
This international recognition is a result of UIU's continuous endeavor to bring innovation to the learning experience, establishing itself as a true center of excellence.
