Archive for the 'Global/International Business' Category

“Pushing” Our Students

One of our MBA students wrote to me and several of his professors today to let us know he’s decided to accept a job offer in Lausanne, Switzerland beginning on August 3.  He’ll therefore need to put his studies on hold for a while. 

He writes, “I will deeply miss the school, the academic environment, and the stimulation…I hope to continue with my MBA at one of the schools in Switzerland and I would be thrilled if there are any opportunities to facilitate a relationship between the Robins School and one of the Swiss institutions.  There is some irony in that, if I hadn’t enrolled in the Robins School MBA, I would probably not have sought out alternative employment opportunities.  So, to some extent, it’s your fault that I’m leaving, and I thank you for the push.”

Although I am sorry he’ll leave the Richmond MBA program, at least temporarily, I am thrilled to know that his interactions with his professors and classmates led him to broaden his horizons.

Spending May in Austria, Slovakia and Hungary

Select MBA students spent much of May in Vienna, Austria, and surrounding areas, earning course credit at Wu Wien (Vienna University of Economics and Business).

Earlier today, Paulina Hidalgo sent this reflection on her time there:

The Vienna Spring Program was a very fulfilling experience.  During the two week program, the group had the opportunity to learn from local professors about valuable topics including:  current situation of the European Union, local business practices, marketing strategies, management knowledge transfer, among others.  Personally, I enjoyed hearing the perspective of the European professors and discussing current business practices in other countries, which I consider invaluable information given the global nature of business nowadays.  The discussions were enriched by the participation of a high caliber group of students from a few different Schools across the US, Canada and Argentina, and from eight different nationalities (American, Canadian, Argentinean, Bosnian, Bulgarian, Taiwanese, Chinese, and Ecuadorian).

As part of the program, we made company visits to a couple banks (Raiffeisen Bank and UniCredit Group in Budapest), leaders in the industry across the European Union, and to a very successful construction company (Strabag).  We heard from company leaders and learned about their perspective towards business, in their respective industries, and how they are overcoming the global economic crisis that has undoubtedly affected their practices and made them rethink their strategies.

The academic experience was enhanced by several city tours, not only in Vienna, but also in Bratislava, Slovakia and Budapest, Hungary, and a few social programs.  During our visit to Budapest, we had lectures at Corvinus University, where we learned about local entrepreneurs and their business practices with their successful ventures.

In the end, I can say that while the work was intense and some days were exhausting, this was a very rewarding opportunity that I highly recommend to any student interested in international business, willing to sacrifice a few nights of sleep for a lifetime experience!

An Update from China

I thought you might appreciate this update from China, where 17 of our MBA students are having a productive visit arranged and led by Associate Dean Tom Cosse and Residencies Coordinator Fae Bell, who sent this e-mail: 

Celebrated Michael Watrous’s 28th birthday with the class last night.  That was fun.  Kathryn Owens and I went across the road to a market and had them put together a cake for him.  Even had a birthday hat that looked like it came from Burger King.  Fancy cake and cost me 128 Yuan which is equivalent to less than US $19.  Pretty good, huh?  Then we all went downtown and ate a bunch of fried bugs, sea urchins, snake meat, etc. on a stick.  That’s what Michael wanted to do for his birthday.  Lots of laughs. 

Today we took the class to a presentation at Microsoft…..very cool.  Then I went to the Art Market and Silk Market with Alexis and Jian (MBA student from Tsinghua) who has been our translator and guide. Tomorrow will be very busy - company visit with the students for their projects, then to eat Peking Duck, then to Forbidden City and Tiananmen Square.

The Elephant and the Dragon

A cross-country flight last week gave me an opportunity to finish a book that an MBA alumnus had given me a month ago.  The Elephant and the Dragon discusses the history and future of the economies of India and China.  It also discusses how these advancing economies will impact the United States and its workforce in years to come. 

I recommend the book, which is rich with anecdotes, especially to our MBA students who will be traveling to China for their International Residency in June.  It provides a rich perspective on the challenges and opportunities in and around China.

A Very Macro Strategy

The November 10 issue of BusinessWeek has an intriguing cover story by Michael Porter about America’s need for an economic strategy.  In a nutshell, this is a macro-level application of the material taught in strategy courses at the world’s best MBA programs.  However, the complexities of applying this kind of long-term thinking when an almost infinite number of crucial but diverse stakeholders are involved will stretch today’s brightest business minds.

Economic and political forces have created short-term thinking that is now deeply embedded in organizations as diverse as public schools, regional economic development entities and, of course, major corporations.  Porter makes a strong case that the nation’s competitiveness in world markets will be diminished if this kind of thinking continues much longer.  As Porter notes, ”America has lost its focus and credibility in shaping the international trading system.”

When appropriately applied, long-term strategic thinking makes decision-making much more simple for those who are tasked with executing the strategy.  Of course, this assumes that some superordinate goal can be identified and articulated in a way that motivates individuals and organizations to act in concert.  It also suggests that decentralization is crucial so actors can proceed with solutions that can be tailored toward regional strengths and weaknesses.

The article ought to provide food for thought for today’s MBA students.  If a few more of them make their way into leadership positions at organizations that are shaping America’s future strategy (from corporations to government agencies as well as economic development bodies and non-profits), I am optimistic that the conversation might bear greater fruit.