Category Archives: Global Business

Study Abroad: Personal Transformation

Foster alum Benjamin Wood participated in the UW Exchange program in Germany in 2007. This is his personal testimony.

Studying abroad in Germany in the spring of 2007 stands out as the most defining and life-transforming period that I have experienced during my time at the University of Washington.  From this experience I learned a lot about myself and about the people and cultures that I came in contact with. The lessons and life experiences that occurred during that time have played a pivotal role in making me into who I have become. Three specific areas that I grew in, and that I believe are of key importance for anyone who desires to achieve success in business or in any realm of life, were my interpersonal skills, my confidence and my problem-solving ability.

Regardless of one’s career goals, possessing strong interpersonal skills are essential to success in business and even happiness in life. Whether it involves communicating to co-workers or customers in the workplace or building relationships with people outside of work, being able to relate to others, understand their perspectives, and communicate one’s ideas is essential to successful interactions. Studying abroad provided me with the opportunity to meet other people from cultures that I had no previous interactions with and forced me to learn to adapt to these cultures and personalities. While in Germany I became good friends with students from all over the world, ranging from England, to Russia, to Palestine and Israel. Living in such a diverse environment changed the way I interacted with people and made me a much more effective communicator.

Probably the single greatest area of transformation in my life while studying abroad concerns how much confidence I gained from the experience. Living on my own in a foreign country, with no safety-net of people around me to help me make decisions forced me make tough choices and then live with whatever happened. Even when things did not turn out the way I would have hoped, this process taught me so much about myself and about what I truly value. Through this experience I became much more confident in myself and, consequently, much more confident in the way I interact with others and make every day decisions.

Somewhat as a result of the other two areas, my ability to problem-solve and look at issues from different angles increased dramatically. By interacting with people from all over the world I received fresh perspectives every day on how problems can be approached and solutions can be discovered. Furthermore, because I was living on my own, I had the opportunity to frequently practice the new problem solving methods that I observed. Overall, I became much more adept at facing complex problems and making confident decisions based on whatever information was available.

Going abroad has given me skills that I will carry with me and build upon for the rest of my life. Studying abroad, more than any other factor in college, has set me up for future success in business and in life. Not only that, but in addition to the great skills it gave me, studying abroad has provided me with an amazing global network of friends and future business associates who I continue to remain in contact with and visit. These relationships alone made the whole experience incredibly rewarding and worthwhile.

Canada wins 2011 Global Business Case Competition

GBCC2011April 16, 2011 was an eventful day as the Global Business Case Competition hosted its 13th annual undergraduate case competition.  We were proud to host the entire competition in Foster’s new building and show off our new state-of-the-art home to visiting teams.

Each of the twelve Global Business Case Competition teams presented their analysis on how to make a water purification business in Tanzania profitable and how to expand the business to other African cities.  After a competitive preliminary round, four teams were selected to move on to the final round: University of Washington, Western Ontario University (Canada), Thammasat University (Thailand) and the University of Auckland (New Zealand).

With over 200 people from around the world in attendance, the final round of presentations was exciting to watch. In the end, judges chose University of Western Ontario (Ivey School of Business) as this year’s champion.

Congratulations to Foster School students on the University of Washington team for landing a spot in the final round: Kyle Bartlow, Jessica Henrawidjaja, Venkat Rao, and Melanie.

Foreign market strategy project

Guest post by Mike Lawrence, Foster BA 2012 and Certificate of International Studies in Business Student Custom/Italian Track

2011 Forign Market StrategyBoeing Market Outlook Report was the focus of 2011 Foreign Market Strategy Project. Certificate of International Studies in Business (CISB) tracks competed in the fourth annual Foreign Market Strategy Project in winter 2011. Made possible by the Boeing Company with CISB alumna Ya-Han Brownlee-Chen as project manager, the project tasked students with examining Boeing’s Current Market Outlook Report and looking for both general and region-specific improvements that could be made to the report. In addition, it challenged students to improve the usefulness of the report to Boeing’s numerous supply chain partners around the world. CISB students had approximately five weeks to complete their research and then present their findings to a panel of judges which included Boeing Company representatives, Associate Dean Steve Sefcik and CISB alumni.

At the suggestion of Ya-Han, a coach from Boeing, Helly Hansen and Samskip IcePak were brought into the tracks to provide an industry perspective and guidance to the teams. Tracks got a lot of help and advice from the coaches. One student said, “Not only was our coach extremely helpful, but she invited us to tour her workplace this spring.”

All of the presentations were a delight to see, with each group bringing unique and often very creative ideas to the table. In the end, there were three awards distributed among the eight presenting groups. The Chinese team (Chinese Track) received the Grand Prize for Best Recommendation, while the Middle East (Custom Track) team received the reward for Best Presentation, and the Europe (German Track) team for Best Teamwork. In all, the project was an excellent experience for CISB students and Boeing alike, with Boeing receiving some quality ideas on how to improve their report.

The Chinese track presented their strategy to senior management and campus recruiters at Boeing on April 8. They also went on a VIP tour of the Everett facility,  met with recruiters at a networking lunch and had the privilege of meeting with Ian Chang, VP, China Operations and Business Development for Boeing Commercial Airplanes.

Have an idea for a future strategy project? If so, please contact CISB at cisb@uw.edu.
Learn more about the Certificate of International Studies in Business.

Part 2 of 2: MBA study tour in Peru – Machu Picchu, microfinance, stocks, adventure

Guest post by Oliver Huslid, Evening MBA student

peru2011Machu Picchu
We took a bus, a train, and then a bus again to reach the top of Machu Picchu Mountain where the ruins are. My headache left me, which is fortunate since the first thing I did upon arrival is sprint across the ruins to get my name on the list for the Huaynu Pichu hike. Only 300 visitors are allowed at a time and I wanted to catch up with my classmates who had taken earlier buses than I. The climb forces me to do a solid hour of stair-stepping but rewards me with a majestic view of the Machu Picchu ruins.
 
Microfinance and women entrepreneurs
Our first company visit is with Credivision, a WorldVision-owned microfinance company focused on lending to women in Peru. They have medium-sized operations, having fewer than 200 active accounts but always expanding. A stringent application process ensures high-quality borrowers on their portfolio and a high repayment rate. A minimum of 10 women are required to apply for a loan together as a group—this is to encourage the borrowers to help each other out with their businesses, whether it’s giving advice or pooling funds. Because they’re on the hook together, they will often cover for each other’s payments should one borrower’s business fail and peer pressure the delinquent individual into solvency.

Peru_stocks_0971Peru stock exchange
We visit the stock exchange, a nondescript commercial building in one of the business districts of town. The presenter is regrettably too incoherent for me to learn anything, though I do recall from an earlier presentation that Peru’s stock market is over half mining capitalization. Their goal is to merge with Colombia’s stock exchange, which is dominated by textiles, and Argentina’s stock exchange, which is dominated by services, to create a unified and diversified stock market.
 
Paragliding over Peru
On my last day, I go paragliding off the cliffs of Lima by the shoreline. For the first time, I’m able to see across the endless city of Lima, home to 8 million, and I immediately forget all that’s on my mind. I look down the coast until the beach meets the horizon and begin to feel very relaxed. The paragliders and I head back to the hotel and meet up with our classmates, all of whom venture into the city for one last shopping adventure. Feeling tranquil, I instead opt to lay by the waterfall pool, dozing off to the sunset, waiting for the hour that I must board the plane to whisk me away from my Peruvian dream.

Oliver is one of many University of Washington Foster School of Business MBA students who studied abroad in 2011. Learn more about MBA study and work abroad opportunities.

Part 1 of 2: MBA study tour in Peru – Coffee, copper, economics

Guest post by Oliver Huslid, Evening MBA student

Peru_0097Silicon Valley of Peru
Microsoft Peru rents space from an unassuming office building in the heart of the city. Because this particular satellite branch only does Sales, it does not have the need for a sprawling complex like that in Redmond.  The immediate surrounding area has a new and modern feel to it. The architecture of the buildings showcases their glass and clean concrete. Because Microsoft’s neighbors include HP, Cisco, Oracle, and Google, it’s no wonder they call this area the “Silicon Valley of Peru.”

Coffee co-op
We visited Café Villa Rica, a co-op of coffee-growers in the Villa Rica region. Headquarters were located inside an unmarked office building in a sleepy residential area of Lima. Café Villa Rica is a privately owned and privately funded since local banks do not trust farmland as good collateral for loans.  They grow, pick, and process their own beans to ensure quality. Unfortunately, Peru does not yet have a big coffee-drinking culture, so most of their beans are exported to coffee-drinking nations like the United States. Café Villa Rica sells about 60% of its beans to Starbucks, where their acidic, earthy beans are mixed with Kenyan beans to balance out some flavors for Starbucks’ customers.

Copper mining
We walk around the corner to visit the headquarters of Southern Peru Copper Corporation, a copper mining corporation with extraction sites in Peru and Mexico. The copper industry enjoys high margins and an accelerating demand from developing countries like China. Year over year EBITDA is in the triple billions for this particular company despite issues with strikes, corrupt unions, and increasing environmental backlash.

Though recent demand slowed in 2009 due to lagging construction needs in the global sphere, demand has picked up pace again in 2010. As one of the largest mining companies in the world, Southern Peru Copper Corporation mines a diversity of minerals and metals, like molybdenum, zinc, and others.

Peru’s national economy
We began one day with a visit to the Ministry of Foreign Relations, where we are treated to an exposition on the strengths of Peru’s economy.

Many of the charts convey dramatic increases of key exports in the past decade, highlighting Peru’s rapid expansion and growing presence in the global trade arena. Peru’s modern approach to global economics has earned it crucial free trade agreements with a large number of countries, including the United States and much of Europe. The impact of these decisions has improved the standard of life for Peruvians substantially, as evidenced by the poverty level dropping from 50% to about 35% over the past decade.

One major weakness of Peru’s economy that they are trying to remedy is overreliance on exporting to the United States and other developed nations. The other major weakness of Peru’s economy is heavy saturation of mining companies. This trait of the Peruvian economy makes it vulnerable to fluctuating commodity prices for metals and minerals.

Oliver is one of many University of Washington Foster School of Business MBA students who studied abroad in 2011. Learn more about MBA study and work abroad opportunities.

Doing Business in China Workshop

The UW Global Business Center hosted a full-day workshop on the University of Washington Seattle campus designed for smaller regional firms desiring to enter the Chinese market. 

During the workshop, China business experts shared their knowledge about doing business in China—the challenges and opportunities, failures and successes, plus insights and practical advice about building lasting business relationships. Each session has been posted below:

Establishing an Effective Supply Chain


Human Resources Strategies


The Art of Getting Paid in China


The Dragon and the Elephant: China, India and Global Economic Leadership in the 21st Century


Establishing an Operating Presence with the Right to Do Business


Building Trust, Integrating Business Styles, and Observing Protocol


Meshing Relationship, Governance, Economics, Policies


An Introduction to the History and Geopolitics of Modern Day China

$33,500 awarded to best social innovations

The 2011 Global Social Entrepreneurship Competition (GSEC) at the UW Foster School of Business brought in more than 100 entries from university teams around the world who seek to reduce poverty and solve social problems through sustainable business and technology endeavors.

Sanergy won grand prize
Sanergy won grand prize

“How do we help make social innovations scale? It’s through visibility, encouragement and investment,” said GSEC award banquet keynote speaker Dan Shine, senior innovation advisor at the Office of Science & Technology at USAID.

Grand Prize of $12,500 went to Sanergy. Led by a diverse team (of engineering, business, urban planning and design students) from Massachusetts Institute of Technology (Cambridge, MA), University of Cambridge (Cambridge UK) and Art Center College of Design (Pasadena, CA), Sanergy addresses both social and economic issues among Kenya’s poor by making sanitation safe, affordable and accessible through innovative technologies—such as small-scale toilets—that collect waste and convert it to energy or fertilizer. Their business model ultimately seeks to reduce sanitation-related disease in Africa. Sanergy also won the new Rotary Prize for Social Impact of $1,000.

welloGlobal Health Prize of $10,000 went to Wello. Led by University of Michigan MBA students, Wello provides clean, affordable water to rural India communities through their innovative, mobile WaterWheel that alleviates the burden of carrying water from source to house while also providing entrepreneurial opportunities for rural residents via delivery service.

A new Information & Communication Tech Prize of $10,000 went to NextDrop led by a diverse team (of business, engineering, public policy and information technology students) from University of California, Berkeley and Stanford University. NextDrop addresses clean water scarcity in rural India by improving the distribution of information about water availability via mobile phone technology. NextDrop works with both local water utilities and consumers to provide more predictable water supplies and improve water management.

“GSEC is a gem among University of Washington programs. Global health is a quest that relies on new tools and alliances… to alleviate disparities,” said Dr. Judy Wasserheit, professor and vice chair of the University of Washington School of Public Health.

The Global Social Entrepreneurship Competition is organized each year by the Global Business Center at University of Washington Foster School of Business.