U-Md. Robert H. Smith School of
Business Partners with USAID for
“Global Challenge” Competition
College Park, Md. – January 28, 2010 – The University of
Maryland’s Robert H. Smith School of Business and the U.S. Agency for
International Development (USAID) are teaming up for the Global Challenge, a
first-of-its-kind competition that challenges teams of MBA and other graduate
students to develop business solutions that support international development.
Teams will be tasked with devising a new public-private alliance that allows a
private enterprise to meet its long-term business goals while contributing to
international development initiatives in a specified region.
“We invite MBA and graduate students from across the nation to employ their
creativity, research skills, business acumen and passion for seeking solutions
that advance growth and reduce poverty,” said G. “Anand” Anandalingam, dean of
the Robert H. Smith School of Business. “It is our hope that future business
leaders balance profit-making with social impact and take all stakeholders into
account when making decisions, values we are committed to fostering at the Smith
School.”
In round one of the competition, teams will submit written proposal in
response to a specified Global Challenge prompt, then up to eight groups will be
invited to compete in the oral presentation final-round competition at USAID’s
headquarters at the Ronald Reagan Building and International Trade Center in
Washington, D.C. on April 23, 2010. Judges will include representatives from
USAID, industry-leading private sector companies, and academia.
The concepts addressed in the Global Challenge are a top priority for USAID
and are closely related to Global Engagement, one of the key themes of President
Obama’s foreign policy, which seeks to address development challenges by
engaging and empowering local stakeholders.
Teams will vie for $8,500 in cash prizes: $5,000 for first place, $2,500
second place, and $1,000 third place. Students will have the opportunity to
connect with leading experts in the international development and business
communities, receive guidance and build invaluable relationships with other
students. Winning teams also will have their work published and distributed to
international development professionals around the world.
The Global Challenge is sponsored by USAID’s Business Growth Initiative and
the Smith School’s Center for International Business Education and Research
(CIBER) and Center for Social Value Creation. The Center for Social Value
Creation launched in September 2009 with a mission to engage students in courses
and experiential learning programs to enable them to become global leaders who
understand how to use business as a vehicle for both economic prosperity and
transformative social change, and to support faculty research in related areas.
“Now, more than ever, the private sector plays a critical role in
international development,” said Melissa Carrier, executive director of the
Center for Social Value Creation. “We are looking for new ideas and fresh
perspectives on how companies can best address the needs of the developing
world.”
To register to or for more information about the
Global Challenge, visit the Web site. Teams may register online through Feb.
5, 2010.
About the University of Maryland’s Robert H.
Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader
in management education and research. One of 13 colleges and schools at the
University of Maryland, College Park, the Smith School offers undergraduate,
full-time and part-time MBA, executive MBA, MS, PhD, and executive education
programs, as well as outreach services to the corporate community. The school
offers its degree, custom and certification programs in learning locations in
North America and Asia.
