Tag Archives: go global

European Accounting Experience – Karinn Uppal

Introduction

I am a first generation American. As a child of immigrants who came to this country with a strong drive to succeed, it was only natural for me to be taught the value of hard work, commitment and, above all, education at a very early age. Because of my strong desire to achieve and excel I choose to take on challenges that will better my knowledge and perspective. The most recent challenge I have taken on is to pursue my Bachelors and Masters Degree simultaneously. I believe that the Accounting Program and the Masters Program here at the University of San Diego will do just that.

Traveling and being a well-cultured individual has taught and shown me many different aspects of the world and given me a global perspective from a young age. I am a very lucky individual who has been given many opportunities to explore out of my home. From traveling alone abroad, to visiting my parent’s motherland, I have seen so many different sides of the globe. Places as diverse as an impoverished village in India, to the Champs-Élysées in Paris, France, both very different settings, with different stories to witness and experiences to have. In cities such as London, Paris, and Rome, I hoped not only for an incredible travel experience, but an opportunity to expand both my professional and personal aspirations, and I received just that. This program helped me excel and take a step further towards my goals.

The International Accounting Experience

On this trip, I expected there to be many office visits, including both accounting firms and companies. In addition to these professional trips, I also expected us to partake in typical tourist activities, such as being on a tour bus in London to visiting the Vatican. In my free time I was able to explore the city in a new light, interact with different people, and find hidden places in the city I did not know about prior to the visit.

The company visits were centered on the differences between what we are accustomed to in the United States versus the international guidelines and standards found in other places. Specifically, I was able to see how this played a role during our visit to the IASB. At this particular visit, we met David Ji, an employee who presented us with a lot of information on accounting standards and what they hope the future looks like. His presentation was of value to me because it helped me understand how subsidiaries and companies have to deal with standards globally, something I will have to do once I start working.

Prior to the trip I was intrigued to see how the culture plays a part in the work environment and how the professionals act with each other versus our cultural norms. I definitely saw this culture difference in France. The hierarchy at the Amada visit was very prominent, and it was shown that those who have a higher standard job do not like to do work that is “beneath them.”

The tourist activities and exploration helped me grow personally. Through the other activities I was able to come across students I was not close to before the trip had started. I created new relationships with Austin Andrews and Andrew Taggart, two people I did not know at all prior to the trip. In addition, I went to the Colosseum with Carolyn, Cheng Cheng, Veronica, and Cecilia, four other students I had not known prior to this trip. Building relationships with these girls exposed met to a culture I had not been exposed to before. I realized how different the Chinese culture is by having conversations with them about home.

Professional Growth

With the International Accounting Program, I enjoyed meeting with our European colleagues and counterparts during the planned company visits. I exchanged ideas and had thought-provoking discussions based off the many questions I had asked. Specifically, it was very helpful to meet expatriates in the Big 4 where they would answer all of our questions. As someone who wants to enter a public accounting firm and work internationally, it was very helpful to meet someone who is currently living my future goals. At PwC I met two expatriates who were on their international rotations. I continuously asked if there was a culture shock moving and if they would want to go back to the states. It was interesting to see two different perspectives and different answers towards this question. One PwC employee said she would and will eventually move back to Southern California no matter what, where as another employee said he was there for the long-term and wants to permanently move there.

Someday, I may want to pursue career opportunities in Europe, and therefore having professional relationships with people that live and work there could be immensely rewarding. I met Claire Beng, a partner at KPMG that stepped in at the end to answer our questions. Claire and I bonded over our similar view towards a company we had both previously worked for, Accenture. After having a conversation with Claire she gave me her business card and said, “Stay in touch. I look forward to speaking with you.” After hearing that I added her on LinkedIn and she remembered exactly who I was. This connection will be beneficial and helpful to have back in the states and its very exciting to have made a connection through this trip.

Conclusion

This program was fast paced, with a full and busy schedule. It provided me with a good view and keen insight into what I could expect life to be like in the “real” world past the academic life at USD. I will constantly be busy in the public accounting field, with new clients, becoming certified, and building good work relationships; I will not have much free time in my day. I have further developed two critical skills that I need prior to entering the professional world: to be able to prioritize tasks and have excellent time management skills.

I believe that traveling abroad while in the process of obtaining my masters was an extremely enriching experience. I gained a new set of skills that will add to my professional career and personal life. This experience connected me to a whole new world of people, may it be students or professionals, many of whom I hope to have lifelong meaningful relationships.

Prior to being an Accounting Major, I was a Biology Major. But now that I have developed this passion for business and accounting; the idea of traveling and receiving credits towards my Master’s degree that once appeared as a dream has become reality. This international program advanced my persona and character in more ways than one and I am so appreciative that I was able to partake in it.

To check out more student experiences, please visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

From the Classroom to Beyond

Ashrith Doddi really enjoyed learning about various international affairs within the classroom while abroad. Read on to find out more about his experience!

I had a great experience with Dr. Dimon and the rest of the crew in Lisbon and Madrid. The class, Global politics, policy, law and ethics, was such a refreshing take on global politics and market systems, with a special emphasis on European monetary and fiscal policy. The case studies given to us exposed us to global business, cross-border negotiations, culture, and challenges that entrepreneurs and businesses face when they make international transactions.

Company visit

When I read the case about corruption in Siemens in Germany, I learned about how big businesses are structured, as well as the journey Siemens and its top management took during its growth stage. The discussion we had in class was lively and insightful. Despite being in metropolitan cities with bustling nightlife and many distractions, everyone in class was prepared, well read and contributed significantly during discussions. When we were not discussing case studies or listening to Dr. Dimon talk about subject matter, we had esteemed guest speakers who educated us on European fiscal and monetary policy. This was the highlight of taking the class in Europe, because I have done some extensive research about European policy in my previous job working as a Reuters correspondent. Many things come to mind that I can use in my personal or professional life after taking the class. For example, the information about liberal and coordinated markets will help me gain perspective about how markets function in different countries. As an MBA student aiming towards a career as a consultant, these topics will help in the future when I have projects that will require international travel. Another example that comes to mind is the telecommunications case study we did, which showed me the importance of market research before entering a new market. Since I am from an emerging market (India), I can compare and contrast the business environments in different countries and the course material will help me in my future ventures.

Madrid - bull fight

To conclude, I highly recommend the course to future students. The classroom discussions with the professor and the students encouraged me to keep up to date with case studies, current affairs and especially, to learn more about the European economy. Traveling with fellow students and professors was an enriching experience and I thank the University of San Diego’s Ahlers Center for the scholarship and the opportunity to take this class.

Final dinner

How to Utilize Family Businesses to Turn the Greek Economy Around

Ian Manahan has been on a long journey visiting many countries throughout Europe, one of which was Greece, that left a lasting impression on him. Aside from exploring Athens and falling in love with Greek food, Ian found the importance that the role of family businesses play in the Greek economy.

When I stepped off the plan in Athens, for the first time in my life, I was immediately caught up in the historical mythology of Greece. I stayed at an Airbnb with a nice Greek couple in their 40’s who provided me with fantastic hospitality that lasted my entire stay. After getting settled, I sat down and learned more about my hosts, while sipping what was quickly becoming one of my new favorite spirits, ouzo, and trying various Greek cheeses on bread. I had only given myself a day to get settled and see the sights, before class started at my school, ALBA, so after my conversation with my hosts, I planned out my next day and went to bed.

IMG_3020

Greece

Greece was dry when I visited in late April, but the beauty of the ocean water off the coast never failed to make me feel full of joy. Greece was one of twelve countries I visited in Europe in 2016 and, in my opinion, Greece had the best food. I loved the way that the Greeks prepared their souvlaki, which made me realize that saving money packing one’s own lunch might not always be the best option. My favorite souvlaki was probably made with small pieces of lamb meat, cooked on a skewer over coals, then placed on pita bread with fresh Mediterranean vegetables and what I remember to be tzatziki sauce.

Although many of the tourist areas in Athens, like the new Acropolis museum, were busy with tourists and well preserved, it appeared there were many areas of the city that were no longer as well taken care of. The traffic also seemed fairly heavy, and at times chaotic, with the many ‘papaki’ and ‘Papi’/mopeds darting around on the roadways. Although I never needed to go far for fantastic baked goods or food, between the multiple jobs my Airbnb hosts worked and the inconsistent infrastructure I observed, Greece seemed to be a place where economic growth and optimism were at an all time low. What could the future hold for them?

Family Business

The class I took in Athens/ALBA was called “Managing the Family Enterprise”, and it was taught by a visiting Italian professor from the Nottingham Business School in the UK, who had one of the most confusing accents of anyone I met in Europe. However, he was very self aware and never failed to IMG_2890make the class fun as a result. For me, learning about managing a family business wasn’t something I had really thought about, until I started working on my New Venture Management MBA with USD and saw the chance to take the course in Greece while I was abroad.

I think one of the bigger takeaways from the class was how large the family business market is. Family owned businesses are almost half of the GDP in the US and constitute approximately three quarters of the GDP in most other countries. Therefore, how family businesses are managed, especially in regards to succession planning, is a fairly relevant discussion for business and globalization moving forward. The family is the most important initial element in creating the company culture, so the question is how can business and culture be continually maintained and adapted to a constantly changing market? Additionally, roughly all of Greece’s mid-sized companies are family controlled and up to 60% of their large firms are family controlled.

The Future

Greece likely needs to pursue more than one change in order to make the turn around the world would like to see them make economically. The euro did not have a good rap with my hosts, nor did the EU. Greece has multiple built in markets with its tourism and food, but the Greek citizens trust in the government is not where it needs to be in order to start making changes that need to be made. After spending two weeks in Greece, I thought that many travelers would still want to visit the beautiful ‘birthplace of civilization’ as we know it, but without strong political and business leadership to re-write the economy, I wonder if we will see its citizens continue to struggle and as a result, lose some of its integral culture. Greece’s challenges and opportunities are not unknown to the world, and I hope to return to a fully revitalized Greek economy someday soon.


IMG_2779 (1)

Must-See’s and Must-Do’s in Shanghai

Joseph LaBarbera studied abroad this past intersession in Shanghai, China and provided us with some of the top things one must do while there. Enjoy!

Shanghai is one of the five largest cities in the world. There are so many things to do and places to see, it is quite overwhelming when trying to plan a trip to this multi-cultural metropolis. If you are anything like me, the best way to experience a city and its culture is to visit the local social spots, as well as try the typical food and drink. I wouldn’t want to spend the entire trip only looking at buildings and statues that you could just google an image of. To help you in your quest of finding a localized and beneficial experience in this wonderful city, I have created a list consisting mostly of some of my favorite bars, food spots, and activities. The best aspect about most of the places I have listed below is that you can enjoy them at night after all of the museums and tours have closed, allowing you to maximize your experience in Shanghai by truly embracing the Chinese culture through a local’s eyes.

1. KTV Karaoke
The most fun and entertaining nighttime activity in Shanghai. KTV Karaoke takes place in a spacious, designated area for just you and all your friends to enjoy! The atmosphere and singing create a fun environment and there definitely will be some quality laughs.

image001

2. Yang’s Dumplings
Yang’s dumplings are the best dumplings in Shanghai, and I’m not just saying that! They are fried in oil, making them extremely juicy! Be careful, they are also very hot and can be a bit messy 😉

image004

3. The Cool Docks
The docks are in a newer part of town with a good selection of restaurants both on and across the streets from the Shanghai River. They also have beautiful decorations in the winter!

image005

4. Bar Rouge
Grab a drink and get the best view of the Bund! This rooftop bar provides a great photo opportunity of the lights in the Pu Dong area of town.

image007

5. Knock Off Market
Just off the Shanghai Science and Technology metro shop, the knock-off market awaits, surrounding the entire station. Prepare to be aggressively approached and solicited to buy items that you most likely wouldn’t find a use for, but are still fun little trinkets anyways!

shanghai-science-and

6. Jazz Club
The Jazz Club has amazing music and also is a good place to sit back, relax, and enjoy a nice refreshment. The band consists of most of the original members since its opening and plays wonderful classics.

image010

7. Shanghai Beer Factory
One of the local breweries in Shanghai with refreshing and delicious beer, as well as has décor that is very hip and trendy! It has a convenient location, right by the Olympic stadium, which also is worth taking a peek at!

image011

8. Sky Bar in the Radisson
My personal favorite bar in Shanghai. The cover band is excellent and they take song requests, which creates a great opportunity to sing and dance along to the music.

image015

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

 

Overcoming Brazilian Stereotypes and Language Barriers

Alex Henley completed her practicum experience abroad in Rio de Janeiro, Brazil and was able to overcome her fear of the city’s stereotype as being unsafe, as well as her frustration with the local language, in order to enjoy Rio for the bright and vivacious city that it really is.

Before I left for Rio, everyone told me to be incredibly careful. I was very nervous about being mugged. I was told not to wear much jewelry, as people would come up and grab a necklace off of you. While I wore a watch to work during the day, I would only wear earrings out at night. I always kept my purse on me, with my hand holding the bag as well. That being said, I had no negative experiences in Rio and I was very cautious even when there were a lot of people around. I took the advice of not going anywhere alone and to take cabs instead of walk at night. During the day, I would go places alone, like to the store, pharmacy, shop, café, or an ATM. However, I also wish I did know more Portuguese. The language barrier was probably my biggest frustration. I know Spanish and English, but when I tried to explain this to the locals, they would just keep speaking in Portuguese. Fortunately, most restaurants have an English menu, so you kind of know what you are ordering.

image009

During the city tour, we saw Sugar Loaf, the Christ statue, the Cathedral, and the Santa Marta Favela. Taking a guided tour through the favela was life changing. Just like with Argentina, where I also partook in my practicum, the disparity between the rich and the poor in Rio is apparent. While walking through the favela, we were able to purchase art made by the locals in order to benefit the community. I would not recommend trying to navigate a favela alone. The Sugar Loaf was my favorite, as the views were absolutely incredible. We went on a rainy/cloudy day, but I still enjoyed every moment. We also went inside the Cathedral and the stained glass windows were absolutely beautiful, a site worth seeing for those that appreciate the timelessness of artwork.

image016

I probably had acai or a fresh juice once a day. The produce in Rio is so fresh, so I highly recommend that you take advantage of it while you are there. Rio is known for its steakhouses, known in Portuguese as churrascarias. I recommend you go to Churrascaria Palace. Although pretty expensive, the restaurant has exceptional service and side dishes. We also went to Pavao Azul and I ordered the bean stew, or feijoada, and was incredibly satisfied. It is a small, hole-in-the-wall type of place where the locals go, but it’s totally worth a try, even if there is a wait.image014

I also loved the beach in Rio, although it rained most of the time we were there. However, when you go to the beach, make sure you have cash, as everything you could possibly need you can find for sale at the beach. There are people carting around everything, from drinks to sunscreen, snacks to swim suits. Also, trying the street food is a must, even if you are not the biggest fan of fried foods!

image012

During the practicum, my patience was tested on many levels. Brazil, along with many other countries, is much slower paced than the United States. Nothing happens quickly, even in business. We spent a lot of time waiting for our client because they were behind schedule. I would say just be prepared to wait and don’t expect business transactions to happen overnight. I would also suggest checking in with your client and teammates regularly. I would say this is very important in order to stay on track and make sure that everyone understands what is expected of him or her. Also, because of the language barrier, we would sometimes misconstrue some of the things that the Brazilians said, because it wouldn’t translate into English in the intended way they wanted. Be comfortable with asking questions in order to clarify what is really meant.

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

The Pearl of the Orient: A Quick Overview

Clarence Wong studied abroad in Hong Kong for an intersession program that gave him a deeper understanding of the city itself through its differences in housing, public transportation system, and the services sector, in comparison to the United States.

For the first day of MSRE 509 intersession, our group took a city tour of Hong Kong, ending with a visit to ‘The Peak’ at the top of Hong Kong island, which featured a panoramic view of Hong Kong. The Hong Kong skyline is unlike any other skyline I’ve seen; it’s like combining skylines from multiple U.S. cities, such as New York, Chicago, etc., into one tightly packed skyline. This massive skyline comprises of not just commercial high-rise office buildings, but also hotels and many residential towers. According to Cushman & Wakefield, since much of Hong Kong has very hilly terrain that cannot be developed on, Hong Kong has unique geographical constraints and, therefore, limited available land for development, so developers must build upward rather than outward to accommodate the large population. As a result, Hong Kong is one of the most densely populated areas in the world. This is quite a contrast to most areas in the U.S., where many people live in larger low-rise homes spread out in the suburbs, rather than live in smaller efficient spaces in high-rise residential towers within the city.

image001

Hong Kong’s public transportation system is one of the best in the world. As a result, most people in Hong Kong use public transportation rather than drive cars. I’ve never seen so many modes of public transportation before. Options include MTR (mass transit railway), taxi, double-decker bus, mini-bus, cable car, and ferry. The MTR, a type of subway system, is generally the quickest way to get around. One time, a group of us took the MTR to a company visit while another group took a taxi. Due to heavy road traffic, the MTR group arrived at the destination quicker than the taxi group. Another time, one group took the mini-bus while another group took the MTR. This time, the mini-bus group arrived at the destination, Happy Valley racecourse, quicker because the mini-bus had a direct stop to the destination, whereas the MTR group had to walk a few blocks after getting off at the nearest stop. So, it all just depends on the destination and proximity to the nearest MTR stop. In any case, since there are so many different public transportation options available, it is extremely convenient to get around the city. Compared to the U.S., Hong Kong is way ahead in terms of available public transportation. San Francisco, New York, & Washington D.C. are the closest U.S. cities to Hong Kong for also providing good modes of public transportation; however, we are still way behind.

image004

The Hong Kong International Terminal is a key container port operator in the Port of Hong Kong, one of the busiest ports in the world. The Port of Hong Kong serves the South-East and East Asian regions, and is also a key economic gateway to mainland China. Our tour guide for the city tour explained that Hong Kong used to be a manufacturing powerhouse years ago, but now China has taken over much of the manufacturing. As a result, the Hong Kong government assisted former manufacturing workers to get re-educated to work in service sectors, such as the hospitality industry. I learned from our Cushman & Wakefield visit that approximately 50% of the Hong Kong population is provided government-assisted housing, which seems high, but necessary given the relatively expensive cost of housing in Hong Kong. Furthermore, our tour guide explained that since most of the Hong Kong population is taken care of for jobs and housing, most people are generally content. Compared to the U.S., Hong Kong has less citizens to take care of, but we could learn from Hong Kong in terms of providing more career services and job-related skills training to unemployed and transitioning workers. For government housing assistance, although the U.S. offers Section 8 Housing and other types of subsidies, these services could be improved upon so more U.S. citizens in need of low-income housing could benefit.

image006

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

10 Must-Do’s in Tokyo

Acerney Yu studied abroad in Tokyo, Japan during spring break and gave her knowledgable suggestions on the best places to both visit and see! Enjoy!

11a

1. Meiji Jingu (Shrine)
Located in Shibuya, Tokyo, Meiji Jingu is the Shindo Shrine, a symbol of the Japanese spirit. The Japanese go to Meiji Jingu in January in order to give a blessing for the following year. If you are lucky, you may see the traditional wedding holding in Meiji Jingu. Surrounded by many trees, Meiji Jingu is a forest in the middle of the busy concrete jungle that is Tokyo. You will be able to enjoy a sense of tranquility and peacefulness in Meiji Jingu.

2a    2

 

2. Tokyo Skytree
Tokyo Skytree is the tallest building in Japan. Just built in 2012, it has become the new symbol of Tokyo. There are 360 degree views of Tokyo from the top of the building, providing great opportunities for pictures both during the daytime  and nighttime.3a3

3. Tsukiji Market and Sushi
Tsukiji Market is a fish market with many sushi restaurants serving really yummy and fresh fish. There is also a fish auction that occurs around 3am most mornings. You definitely must try the sushi and sashimi, as it is some of the best in Tokyo!

4a4

4. Akihabara
Akihabara is famous for its animation-related products and themed restaurants, such as maid-cafés. This sub-culture plays an important role in current Japanese life.

55a

 

5. Sensō-ji (Temple)
Sensō-ji is located in Asakusa. It is the oldest temple in Tokyo. The Nakamise-dōri, a street on the walk to the temple, contains many shops that sell traditional Japanese food and souvenirs. The length of the street is approximately 250 meters and contains around 89 shops. Sensō-ji is also famous for Tokyo’s largest and most popular festival, Sanja Matsuri.

 

66. Shibuya
The most famous district in Tokyo. The crossing is one of the busiest in the world. There are many department stores that carry the latest fashionable goods, as well as delicate Japanese products.
77a

 

7. Tokyo Station
Tokyo Station is a railway station in the Marunouchi business district of Chiyoda, Tokyo. It is one of the busiest stations in Japan. It serves 14 lines, including several Shinkansen (Japanese high-speed rail lines). Tokyo Station is very beautiful, and there many good restaurants and shops (Ekinaka) in the station.

 

image0158. Shinjuku Gyoen National Garden
Shinjuku Gyoen is one of the largest parks in Tokyo. It was originally a residence of the Naitō family during the Edo period. There are traditional Japanese tea houses throughout the gardens and the park itself is very famous for its cherry blossoms that bloom in the springtime.

9

9a

9. Ichiran Ramen

Ichiran Ramen is a Japanese ramen chain from Fukuoka. What makes Ichiran Ramen so special is that you can customize your own ramen by choosing the flavor strength, richness of the soup, the noodle texture, etc.

 

10

10. Kaiseki ryōri
Kaiseki ryōri is the traditional multi-course Japanese dinner. It contains many different dishes which allows you to enjoy several different tastes of Japanese food, all at the same time!

 

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

Tanda Extendida and the Dominican Republic

Tiffany Hynek completed her post-practicum reflection on her experience in the Dominican Republic and passionately describes the adverse situation that the private school system is facing there.

Tanda Extendida, the policy changes affecting the public school system in the Dominican Republic, have created a huge threat for the K-12 Christian private schools to which Edify and its microfinance partners, Esperanza and Aspire, provide loans. I was assigned to a team of University of San Diego graduate business students who were hired by Edify and its partners to travel to the Dominican Republic to help find solutions for these private schools. The schools were seeing high loss rates in their retention of students and teachers who were believed to be moving to public schools, due to the apparent rise in public school education levels and higher teacher salaries. The issue became apparent as we met with Edify, Esperanza and Aspire staff who shared their high levels of apprehension with us. They were concerned that with tuition beginning to leave the private schools, it would be increasingly more difficult for their clients to make loan payments and the availability of faith-based private education would decrease.

image001

Lunch meeting with Esperanza’s CEO

After hearing about the issues concerning our clients, we headed out into the field to visit thirteen private schools and hear the concerns of the principals and directors of these schools. These individuals largely echoed the concerns voiced by our client’s staff members: students were rapidly withdrawing from the private schools in order to access free education at the public schools, teachers were leaving in order to gain higher paying jobs at the public schools, and loan payments were going to be harder to make with less tuition coming into the private schools.

image004

Visiting K-12 Private Christian Schools

At this point, our team decided it was important for us to meet with the private school parents to find out their opinions on education, as they were the major decision makers in this situation. We were able to meet with a number of parents who shared their concerns about safety, nutrition, and discipline. Many of the parents had attended public schools as children themselves, but were concerned with the level of safety in the public schools where there were often 50 to 60 children for each teacher to both watch and educate. They were also concerned that the teacher to student ratio in the public schools made it impossible for teachers to discipline their students. However, due to the Tanda Extendida regulations, the public schools were now offering free breakfast and lunch programs for the children, which was very enticing for many of the parents whom we were able to speak with.

image006

Fernando Silva interviewing private school parents

At this point, our team recognized the importance of the situation and we needed a solution. We realized that the public schools had a huge benefit that the private schools were missing out on: economies of scale. For example, the public schools were able to purchase cheap meals from suppliers for their students because they were purchasing thousands of meals per day. However, the private schools would only be able to purchase a couple hundred meals per day, therefore losing out on bulk discounts. We realized that in order to compete with the government supported public school system, the private schools needed to work together to form a trade association.

Through this trade organization, they could work together to create benefits of economies of scale, learn from each other’s best practices, and create large scale marketing campaigns. We were able to contact food suppliers who were interested in working with a trade organization of private schools to supply affordable meals to a number of private schools. At this point, we were able to develop the beginnings of a food program for interested schools. This would not only help them remain competitive in the new market conditions, but it would also help to provide the much needed nutrition to their children. We presented our idea of the trade association and accompanying programs to CEOs and staff members of Edify, Esperanza, and Aspire, who loved the idea and wanted to move forward with the creation of the trade association as soon as possible. Our team is looking forward to also presenting our findings and recommendations to the CEO of Edify, and longtime supporter of USD, Chris Crane.

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.

Mondragon Cooperatives Can Teach American Firms How to Conduct Business

Betty Trinh went to Mondragon, Spain for a short study abroad program that gave her insight into how cooperatives work together and share resources, in order to conduct business competently.

image005The study abroad program in Mondragon gave me the ability to see firsthand how a cooperative model works. Going overseas to Spain and learning from the locals in the Mondragon cooperatives was the best way to see how a business with a purpose can succeed globally. It was eye-opening to see the strides that Mondragon has made with its employee-centered initiatives. It was even better to learn that they have become successful enough to expand globally and now                                                                                have operations located all over the world.

image003

The Mondragon model is an interesting one, because it is embedded into the fabric of the entire community. Mondragon is not just one company, but an entire network of cooperatives working together to achieve the same goal. The overarching mission of the Mondragon Cooperative Corporation is to create and retain jobs. All of their strategies and developments center around this one mission. They achieve this by forming a strong network of cooperatives that support one another. It is both the interlocking of dependency and cooperation that gives Mondragon cooperatives their resiliency. If one cooperative is struggling, there are resources available from the others that can keep it afloat. If one factory closes, workers can be relocated to other cooperatives.

image007

The concept of pooling and sharing resources should be the main takeaway for American businesses. Not only is it a great way to weather downturns, but it can be a powerful tool for sharing best practices and creating benefits for the entire community.

image010 It helps an organization to become more resilient and also, has the potential to extend the reach of an organization. Each organization’s impact is limited to its individual capacity. However, when organizations team up, the collective impact will always be bigger than each individual member’s impact alone. The power of pooling is an amazing phenomenon that Mondragon has mastered well, and American organizations can try to borrow some of the same ideas in order to become more efficient.

image011

If you want to learn more about Mondragon’s cooperatives, here’s the link to an article from the Guardian that provides some more details on what is going on in Spain currently:

http://www.theguardian.com/world/2013/mar/07/mondragon-spains-giant-cooperative

Enjoy!

To check out more student experiences, visit our Study Abroad blog page.

Information on international opportunities can also be found on our website.