Tag Archives: study abroad

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.

Generosity of women leaders in India

Guest blog post by Cate Goethals, UW Foster School of Business lecturer

Women Leadership Trip - India 2010I first noticed it on the plane before I even reached Mumbai when I sat next to a woman who owned a handicraft business. I told her I was bringing a group of 22 students to India. “Come to my home,” she said. “Let me cook for you.” Her sister-in-law, who ran a different business, came to sit in our row. “Please let me host your group,” she said.

University of Washington students and I (their faculty trip organizer) had set out to study women’s leadership in India. I expected the accomplished women we met to be powerful, visionary, confident, charismatic, any number of traits. What I had not anticipated was generosity.  Extreme generosity. The more responsibility someone had, the more time and attention and respect they gave us.  Some more examples:

  • Rohini Nilekani, who runs a multimillion-dollar foundation in Bangalore and is known as “the Melinda Gates of India,” spoke to us and then had to go to a meeting.  After the meeting, she returned and gave us another hour of her time.  Half of that was spent asking us for our ideas.
  • Poorvi Chothani, well-known attorney often seen on Mumbai TV, not only agreed to brief my group on women and the law in India – but went on to spend many more hours organizing a special session of the Ladies Wing (!) of the Mumbai Merchants Chamber to gather dozens of women in our honor. She turned what could have been a personal platform into an exchange of ideas.
  • Veena Mankar, leading banker and co-founder of microfinance institution Swadhaar, had to cancel our visit to go to a funeral. She then rearranged her schedule and spent more than an hour driving across Mumbai to meet with us at our hotel early one morning. “Young people have the best ideas,” she told me. “I talk to them whenever I can.”
  • Amma, “the hugging saint” and most well-known female spiritual guru in the world, heard that we were rushed through our first session with her. Although she hugged thousands of other people that day, she invited us for a second session, asked that we sit at her feet and personally answered our questions about women’s leadership. Then she asked her swami to give us back the money we paid to stay at her ashram. “Students should have pocket money,” she said.
  • Women of the world-famous Self Employed Women’s Association greeted each of us several times with a personal flower, a special bindi (red dot pressed with rice on our foreheads to nourish our spirits) and a bit of sugar to eat.

I was struck by this generosity on nearly every visit.  It may be part of Indian culture, it may be related to gender, it may be a function of the exceptional people we saw.  In any case, it is an overlooked and undervalued leadership trait – and one that is infectious, making the students and I want to give back…and give elsewhere…and do it again, creating new cycles of generosity even now that we’re home.  The ripples are still being felt.

Cate Goethals, University of Washington Foster School of Business lecturer and Seattle consultant, leads global business seminars and study trips focused on women and international business. She has taught at the UW Foster School for more than 20 years—including a class called “Women at the Top” that was named one of the 10 most innovative MBA classes in the country by Forbes in 2010.

The India exploration seminar abroad, called Half the Sky: Women Leaders and Entrepreneurs, included 22 graduate and undergraduate students.

Interning in rural Kenya

Guest post by Nathan Whitson (UW business major graduating in 2012)

SAM_0286As part of my international studies at the UW, I desired to volunteer abroad during my college career. The summer of my sophomore year (2010) I traveled to Kenya as part of an informal internship at a small orphanage called Watoto Wa Baraka.

My time in Kenya lasted 6 weeks, but it was jam-packed with new experiences and encounters. Kenyans are wonderful. They help before you ask and smile before you can react. This attitude puzzled me, because in deep poverty, they persist and love the life that they were dealt. I quickly began drawing differences between Kenya and America, a natural process that creates unique global views.

Global conversations
Kenya was not the only thing new to me. So was everyone around me. While in Kenya, there were few Americans and many of my peers were European. I did not know what to expect, but my understanding grew as we discussed everything from politics to education. In addition to learning about Kenyan culture and society, I gained a unique understanding of different communities from around Europe. I now have a mini network of people from around the world that I can connect with in the future.

Preparing food at a Kenyan orphanage
Preparing food at a Kenyan orphanage

Making an impact
As volunteers, we spent time looking after the children, helping in the local school and hospital, aiding with laundry, harvesting and cooking food and traveling around to different communities in the area. This internship taught me what simple living really is. I am deeply humbled that I was able participate in an international internship this summer because the experience truly cannot be replicated. Kenyans are the most resilient people I have ever met, leaving me with the hope that a bit of this attitude rubbed off on me. I feel that this is true of all internships; they are gateways into the real world. Not every internship defines what your career will be, but it shines a light into what exists at that next level.

Resources
If you are thinking of interning abroad, my recommendation is to fully commit yourself to a program and go with it. A variety of great resources exist for those looking to make a difference abroad or gain experience locally. Here are a few I would recommend: Volunteer Match (opportunities abroad/locally), Intern Match (local internships) or UW Husky jobs.

Nathan Whitson is a junior at the Foster School of Business focusing on finance. He used his “summer break for something more heartfelt than simply a check every two weeks and it definitely paid off.” His Kenyan internship was organized by himself via Volunteer Match.

Women leadership in India via microfinance

Guest post by Cynthia Sánchez (UW English major, graduating in 2011)

I used to believe microfinance pertained only to those in the banking industry. However, I’ve discovered this is not the case. Microfinance can be utilized by many banks, but also individuals seeking to help others. I learned microfinance does more than lend money. It helps people save, build their resources and reduce their vulnerability.

Microfinance repayment gathering in India
Microfinance repayment gathering in India

Meeting with Grameen Bank in Bangalore, India allowed me to witness the difference the bank makes by giving 97% of their loans to women while they also strive to educate the next generation. Our meeting with Grameen Bank began by attending a repayment meeting. We arrived at the gathering location—encountering a few goats along the way—and entered an open space. A group of women sat leg-crossed chanting the sixteen decisions, a set of values, followed by the recitation of a vow. This was the way they commenced meetings. They welcomed us with smiles and requests to sit next to them, tapping the floor beside them to signal open spots. The women wore saris and a few cradled their children. We took our seats barefoot and watched each member sign in. Their glass and golden bangles slid up and down, synchronized to the movement of their arms.

The session was quick. The women were prepared with the money stacked in their hands, like a deck of cards. They all sat attentive waiting to hear their name to pass the payment to the lender. The money circulated, hand in hand, until it reached him. He counted the amount and recorded the amount in the borrower record sheet which contained the borrower’s picture, her name, the names of her children and spouse and dates of all the past payments.

We learned from the women that with the money they borrowed they had paid for their children’s education, started businesses, resolved personal issues and emergencies and also had the opportunity to expand their knowledge of business. Obtaining a loan from Grameen Bank had empowered them to decide what was best for their families and their future. Women who were once considered “uncredit-worthy” are now beginning to move away from poverty in a country where 41% of its population is still “unbanked”—demonstrating the difference a small loan can make.

Cynthia is a University of Washington student participant in the Foster School of Business study tour during fall quarter 2010. The trip, focused on Women Leadership in India, was organized by Foster faculty member Cate Goethals.

Business women in India and America share hope

Guest post by Emily Gerloff (UW business major, graduating in 2011)

“Nearly everything you do is of no importance, but it is important that you do it.” -Mahatma Gandhi

I was told that India is life-changing.  After hearing this on several occasions, I remember thinking to myself: What a strange concept. How can a country be life-changing?

After spending a month on the Half the Sky Exploration Seminar via the UW Foster School of Business, I am still unable to express exactly how India changed my life, but I know with absolute certainty that it did.

Emily (far right) sits with Indian women at a microfinance repayment gathering.
Emily (far right) sits with Indian women at a microfinance repayment gathering.

During the micro-lending meetings I expected to see poor, impoverished women with sob stories capable of making me instantaneously empty my pockets. I was surprised and relieved to find it was nothing like what I had imagined. These women did not have an ounce of desperation in their voices as they told their stories. They are an absolute testament to the power of hope and determination.  They live their lives with an innate sense of duty and purpose I can only compare to an American’s sense of equality and freedom.

Another surprise was how closely the lives of these women parallel my own. The micro-loans they receive are similar to the loans that fund my education.  I come from an underprivileged family (by American standards) and would be unable to attend college if it weren’t for the grants and loans provided to me by the government. Although I am occasionally jealous of my fellow students who will graduate with zero debt, it doesn’t change the fact that I am extremely grateful for the opportunity to better my life. I don’t think I am any less deserving of an education just because I was born into a family that couldn’t pay for one. This is a similar stance these women take regarding the micro-loans they receive. They possess gratitude and a humble belief that they deserve the right to prove their worth.

India changed my life.  I have seen first-hand the power of hope and determination and won’t deny myself the chance to see how far my own hope and determination will take me.

Emily is a University of Washington student participant in the Foster School of Business study tour during fall quarter 2010. The trip, focused on Women Leadership in India, was organized by Foster faculty member Cate Goethals.

Expanding cosmos—women in leadership study tour

Guest post by Melanie Sharpe, Foster MBA 2011 with a global business focus

BananaLeafIn the pre-trip brief just hours before we left for India, our professor Cate Goethals made a preparatory comment I’ll always remember as I weave my way through the world: “Becoming cosmopolitan means expanding and pushing the current boundaries and edges of your world.”

The trip to India expanded my cosmos in that very way. It exposed me to a diverse array of Indian leaders that redefined my perspective of business leadership as a woman—an aspect of business school that is largely overlooked and one I admittedly had not taken the time to consider prior to the transformative trip.

Inspiring women entrepreneurs

We encountered a colorful gamut of inspiring women. From workaholic bankers to avant-garde filmmakers to powerful lawyers and wealthy philanthropists to arguably the most influential female spiritual guru in the world to rural tree harvesters—all incredibly ambitious and driven women who seemed to have something very profound in common: They all seemed to be working to uplift others around them.

Call it social entrepreneurship or call it a compulsion to help better their community or family. Sometimes this innate desire compelled them to work 16-hour days to allow their fatherless children to have a better future. Sometimes that internal murmur told them that funding clean water was the only way to ensure the success of future generations of Indians. Sometimes that calling told them to hold and convey love to thousands of people everyday. In each instance, the evidence of that desire to give was palpable and tremendously inspiring.

TajThe pinnacle of the trip was hearing Rohini Nilekani, wife of the Infosys founder, speak at her clean water non-profit, Arghyam. Her profound statement: “Your generation no longer has the luxury of pessimism” was galvanizing. No longer can we absentmindedly guzzle water from plastic bottles or live in first-world luxury flushing away our waste with fresh water without considering the ramifications to the earth or other members of the world community. Her CEO Sunita Nadhamuni was an example of such awareness. Nadhamuni and her husband had reinvented the American business school dream of Silicon Valley wealth, prominent management positions and a constant search for “more” by transitioning their careers to work that directly helped communities of people have access to clean water.

Globally interconnected economy

The trip to India opened my world to the interconnectedness of the global economy. Imagine Dharavi: Asia’s largest slum, prominently featured in the blockbuster film “Slumdog Millionaire” as an impenetrable, crime-filled, filthy dystopia. The reality? The living conditions were certainly difficult: On average there is 1 toilet per 1,500 people! But the families inside the neat and tidy (albeit tiny) apartments were hardworking, entrepreneurial and contributing to global economic epicenters of recycling and clothes dyeing. In fact, many of the raw materials that we consume in the United States are sourced straight from Dharavi.

I left India transformed. The trip confirmed what I had suspected for my own career path: My own compulsion to serve was an innate calling that could be aligned with both business ideals and women’s leadership. Arriving at this realization completed the goal of the trip. My cosmos is expanded forever.

Melanie is an MBA student participant in the University of Washington Foster School of Business study tour during fall quarter 2010. The trip, focused on Women Leadership in India, was organized by Foster faculty member Cate Goethals.

Foster MBA explores Rwanda post graduation

Guest post by Foster alumnus Jim Bullock (MBA 2010)

So, what comes to mind when you think of Rwanda?  Maybe you think of the ethnic tension that culminated in the tragic events of 1994. Maybe you think of poachers in the jungle, hunting mountain gorillas for their heads and skins. Maybe you think of a rapidly developing economy and see opportunity. If you’re like me, you’re not really sure what to think. I guess I thought of all those things and a million more before my flight touched down in Rwanda’s capital city of Kigali almost two weeks ago. Now I’m sitting in a sophisticated café, sipping a café au lait, and trying to put this tiny African nation into a category: an impossible task.

A snapshot of my current life – international work and travels

I finished graduate school at the Foster School of Business at the University of Washington a few months ago. Before that I worked as an engineer, mostly in California. While at Foster, I received an offer to work with an NGO called Rwanda Girls Initiative (RGI) in order to help them with their business operations. Soon after accepting a three-month position with RGI in Rwanda, I was selected for a fellowship that offered me funding for eight months of international travel. Naturally, I decided to do both. I plan to work with RGI for the next three months before embarking on eight months of independent travel. Now here I am, 12 days into the journey, with almost eleven-months lying in front of me.

It’s hard for me to succinctly explain what attracted me to the Rwanda Girls Initiative and Bonderman Fellowship. Promoting gender equality, meeting people from around the world, providing education in rural Africa, wanderlust, a guilty “western” conscious, curiosity…hey, take your pick or make up another reason. Suffice to say it seemed like a once in a lifetime experience for me to make a real impact in a very interesting way. There’s nothing I would rather be doing right now.

After a week I’ve got some stories about the business culture, regional politics, the Kigali Memorial Center, friendly locals, restaurants and cafes, and of course my neighbor’s rooster (who likes to wake me up at 4:30am). But sadly I’m about done with my coffee and it’s time for me to catch a moto-taxi home. I’ll write again someday soon. Until then, murabeho.

Jim Bullock (MBA 2010) is a UW Foster School of Business graduate, consultant for Rwanda Girls Initiative and recipient of an international travel University of Washington Bonderman Fellowship.

MBA study tour: Kenya the magnificent

Guest post by Tarang Shah, Foster MBA student and 2010 study tour participant

kenya3Magnificent is an understatement. The Kenya study tour is, hands down, one of the top 3 MBA experiences I have had at the Foster School of Business. Not surprisingly, this statement echoes the sentiments of a lot of other folks who went with me on this study tour. There is something special about spending two weeks with your classmates, colleagues, and teachers, far away from your homeland, that brings people together to form inseparable bonds.

We visited a breadth of firms and organizations including financial, airline, consumer product, telecommunication, micro-finance, non-profit… and schools. Some us even got a chance to attend a class at the Strathmore Business School, which confirmed that “case discussions” are the way to go in business schools. It also confirmed that the frameworks we learn at the business school stay the same across the continents, but the implementation details vary to accommodate various cultural, economical, geographical, and environmental aspects.

hakimWe had the honor to visit an orphanage in the outskirts of Nairobi. The hope and smiles on the kids’ faces were truly inspirational.

We went on a 3-day safari and saw the Big 5 animals (lions, leopards, elephants, buffalos, and rhinos) in addition to ostriches, zebras, dik diks, hippos, giraffes, gazelles, warthogs and several other animals and birds.

On the last day, Mutua’s (one of our 3 rock-star study tour leaders) parents invited us for lunch at their home and we got to experience the warmth of a traditional Kenyan family. What a perfect way to end this surreal experience. I want to live it again!

 

kenyaThe Global Business Center at the University of Washington Foster School of Business offers students study tours and other international experiences each year. Study tours expose students and faculty to businesses, cultures and adventures to gain global perspectives and augment academic studies. 2010 was the first year the Global Business Center sent MBA students to East Africa, specifically Kenya. They were accompanied by Foster School Assistant Professor of Management Chris Bauman.

MBA study tour in the Middle East

Guest post by Thomas Potier, Foster MBA student and 2010 study tour participant

Middle_EastWe landed in Dubai after 16 hrs of flight in a top-notch triple 7 with the widest screen entertainment units that I had ever seen. Getting out, I remember feeling the same as I felt when I landed in 2001 in Beijing: disconnected from my reality. I felt quite lost until I heard the familiar voice of Florence (MBA student trip leader): “Girls, there’s a restroom here. I’ll wait for you if you wanna go.” We were in good hands.

Wonders of the time spent in Dubai, Abu Dhabi and Muscat flash before my eyes as I write this: So much to remember. The first of these wonders are the bonds I created with the Foster MBA and faculty group. I sometimes knew them—as classmates or teacher—and sometimes didn’t. The relationships I forged in the Middle East will always be somewhat stronger and tighter.

There is also this culture clash:

  • These female master’s students with a veil whom we were asked to talk to in a group with at least one female representative
  • Sam at Sport City in Dubai saying: “We build first and see what to do with it.”
  • Very formal presentations, especially when His Excellency showed up
  • The desert full of buildings and expensive cars….

Middle_East2Finally, there was the fun. The desert tour, snorkeling tour and Sheesha evenings.

Taking the plane back home, I pictured myself having an internship at Masdar City—building the least energy-consuming city, the first carbon-neutral city for one of the highest energy-producing countries.

Marrying antonymic themes is what the Middle East thrives at:

  • Cities with a lot of water inside the harshest deserts
  • Providing a lot of fun with great openness in a very austere society

I hope one day I will have the chance to go back and marvel again.

The Global Business Center at the University of Washington Foster School of Business offers students study tours and other international experiences each year. Study tours expose students and faculty to businesses, cultures and adventures to gain global perspectives and augment academic studies. 2010 was the first year the Global Business Center sent MBA students to the Middle East, specifically United Arab Emirates and Oman. They were accompanied by Foster School Assistant Professor of Finance Thomas Gilbert.