GUST, EQUATE award winners in MEGlobal Case Study 2016
Gulf University for Science and Technology (GUST) and EQUATE Petrochemical Company, a global producer of petrochemicals, awarded the winners of the annual MEGlobal Case Writing Competition 2016 to develop the academic and scientific competencies of students. MEGlobal is a wholly owned subsidiary of EQUATE and the competition is part of EQUATE’s Sustainability Program. This is the fourth time this competition has been conducted with GUST.
The judging panel included EQUATE Senior VP and MEGlobal President Dr Ramesh Ramachandran, MEGlobal Vice President of Projects Dr Salman Al-Ajmi, as well as GUST’s Vice President for Academic Affairs Dr Salah AlSharhan and Head of Mass Media Department Dr Fahed Al-Sumait.
Dr Ramachandran said, “Education and professional development are key elements in EQUATE’s Sustainability Program. This competition is an opportunity for the students to analyze hypothetical cases that reflect potential challenges they will face in industry and put theories and ideas into real-life practices. Every year, the students have displayed their analytical abilities, strategic abilities and creative thinking. EQUATE and MEGlobal are proud to be associated with GUST and have always been impressed by the quality and the abilities of students in Kuwait.”
Meanwhile, Assistant Professor at GUST College of Business Administration Dr John Hayes said, “Strategic thinking and the ability to apply it are key competencies within the corporate world. As evident from the high number of participants in this competition, the students are enthusiastic about applying their theoretical knowledge to devise real-life solutions for actual enterprise-based challenges. GUST firmly believes in encouraging and nurturing the strategic direction and original thinking in our students, which are key elements for pioneering corporations, such as EQUATE and MEGlobal.”
The competition included the participation of a number of teams from GUST. Five teams, consisting of under-graduate and MBA students, were selected for the finals and developed the case studies. At the beginning of the competition, MEGlobal provided a number of cases for the students to use in the competition. The case studies covered marketing/sales, finance, human resources and management. The students were guided by Dr Hayes, who is a renowned author and researcher, to provide innovation-based strategic business solutions to actual challenges.
The participants competed for financial prizes totaling KD 6,000 that were awarded to the five teams. The awards were KD 3,000 for first place to one team, KD 2,000 for second place split between two teams and KD 1,000 for third place divided between two teams. The winning teams were awarded by Petrochemical Industries Company (PIC) CEO Mohammad Al-Farhoud, EQUATE Chairperson and PIC Deputy CEO for Olefins and Aromatics Hosnia Hashim, as well as Dr Ramachandran.