Last month, Kellogg had the honor of hosting Christine Lagarde, managing director of the International Monetary Fund (IMF). After a school-wide lecture, 30 students, including myself, had the unique opportunity to attend an intimate roundtable discussion with Madame Lagarde. The conversation primarily focused on women in leadership and the IMF’s international finance policies. Both topics are near and dear to my heart, as I am passionate about international finance and hope to one day lead an organization.
Madame Lagarde began the roundtable discussion with the observation that women leaders are frequently called upon in difficult situations. She cited Iceland and the United States Federal Reserve as examples where women came into challenging economic situations and thrived with their intelligence and attentiveness. She mentioned Angela Merkel several times, noting that Merkel was the most welcoming to smaller and newer nations’ leaders at the last G20 Summit.
Madame Lagarde shared her personal story as well. As the oldest of many boys in her family, she didn’t perceive or encounter discrimination until later in life, when she interviewed at a law firm and was told that women couldn’t make partner status. This anecdote resonated with me, as I am entering the corporate law industry after graduation, where there is still a disparity between the number of male and female senior leaders.
This is part of an ongoing series highlighting MMM summer internship experiences.
Name: Alyssa Lorenz
Industry: Medical Devices
Company: Johnson & Johnson
Function: New Product Development / Global Strategic Marketing
Location: Cincinnati, Ohio
I have always been passionate about health and wellness, and I’ve recently become interested in using design thinking to create patient-centered solutions that improve health outcomes and access to care.
As a result, I was super excited for the opportunity to work on a global new product development project at Johnson & Johnson Medical Devices this summer. They’re developing a new product that’s primarily targeted at one cancer procedure, and my job was to understand how the current product could and could not meet needs I uncovered in a different cancer procedure.
I then worked with our R&D, Industrial Design, Global Business Insights and Surgical Innovation teams to ideate around design changes that would allow the product to better meet the needs for this procedure and develop a strategy and business case for these changes.
International Business Strategy Lab, taught by Prof. Susan Perkins, provides a real-life consulting experience for students to work with international clients. In 2014, the class worked with the Ecuador Trade Commission on three different projects. One team’s strategy led to the creation of 10,000 new jobs in Ecuador. In 2015, students in the class once again worked with clients in Ecuador. This post highlights one of their projects.
By Tommy Kantapasara
For International Business Strategy Lab class, I was part of the TAME airline team. TAME (pronounced tah-may) is Ecuador’s national airline.
Our team of four consisted of three second-year students and one first-year student who came from diverse backgrounds ranging from engineering to consulting and banking. We all wanted to work on the TAME airline project because of our personal fascination with the airline industry and our desire to know how an airline operates.
Our project was to evaluate and consider a launch of a new route for TAME from Quito, Ecuador (UIO) to Chicago’s O’Hare International Airport, and our main client was ProEcuador, the Ecuador government agency whose objective is to facilitate and grow trading activities between the United States and Ecuador.
By Mikhail Petrov
Two years ago, Kellogg introduced a new experiential learning class focused on international business strategy development. I am interested in international development, and I wondered what working on a real consulting project was like, so this class provided an opportunity for me to do both.
One year later, Jasmine Lipford, Andrew Tibbetts, Emi Yokoshima and I found out the implementation of our strategy from class resulted in 10,000 new jobs and the biggest stevia growing project in Ecuador.
Paul Christensen is a clinical professor of finance at Kellogg, where he teaches courses in microfinance and international business. In addition, he serves as Academic Director for Kellogg’s Global Study Programs, enabling MBA students to explore international business and markets through global immersion experiences. Prior to Kellogg, Christensen was the founder and President of ShoreCap International Ltd., a $28 million private equity company, based in London, which invests in financial institutions in developing countries throughout Africa, Asia and Eastern Europe.
Christensen took time to talk about what he teaches, why he teaches and what he hopes students take away from his courses.
The famous American Economist, Frank Knight said, “Profit is the reward for taking risk.” Dr. Knight argues that profit and risk are intertwined. In seeking profits, we must therefore seek risks that are attractive.
That is how Kellogg students are introduced to Risk Lab, an experiential learning course that allows students to examine the attractiveness of risk in a real-world investment decision. Last year, the course examined the opportunities and challenges facing Cuban entrepreneurs.
The students worked with the Cuba Study Group, which released its full report based on the students’ findings this summer.
Carlos Castillo, who was one of the students in the course and graduated in June from Kellogg’s One-Year MBA program, took some time to talk about what he learned from the experience.
By Summer Guo
The China growth story has been a big headline recently in business, academia and in governments around the world. And the story continues to evolve. The market has developed into a complex and sophisticated behemoth.
With that in mind, more than 600 attendees gathered at Kellogg last month for the 2015 Greater China Business Conference. “China’s Next Chapter — Future Growth Engine” focused on how China would address current challenges and fuel its future growth, laying the foundation for the country’s next chapter.