The MBA students applying what they learn, while also building professional networks, through the MBA Corporate Consulting Projects program!
How time has flown since the first Orientation and Integration days, in early September, for the Monaco MBA Class of 2017! The cohort is now halfway through the first term of their program, which will end just before Christmas. As in previous years, this Fall term is structured entirely around core courses. This means that all the MBA students follow such managerial foundation courses as Financial Accounting, Statistics for Business, Managerial Economics, Marketing Strategy & Management, and Global Strategy & Leadership, to name but a few. And they are looking forward not only to a well deserved Christmas break, but also to starting the new Winter term in January.
Why “looking forward”? Because, beginning in the New Year, they can also begin taking the elective courses that best correspond to their unique professional aspirations. Electives they can select from are offered in three specific career tracks: Luxury Management; Entrepreneurship & Innovation Management; and Applied Finance.
But more than that, the New Year also heralds the beginning of the Corporate Consulting Projects. These projects give students the opportunity to apply the theories and tools they have learned in the classroom to actual situations faced by organizations both in Monaco and further afield. Needless to say, each year’s projects are different, as they are based on the needs and challenges faced by different enterprises across a variety of sectors. This year’s MBA Class of 2017 had the opportunity of working on a very diverse set of MBA Corporate Consulting Projects for a broad variety of enterprises:
- Parkview Private Collection, a very private world of tailored experiences stretching from London to the French Riviera, across Asia and to Beijing, asked one team to come up with a social media strategy for its Luxury Business Unit- Beauvallon. From Design to operational implementation, students gave the marketing team a broad set of recommendations.
- One group focused on assessing the innovation capabilities of Burberry – Shoes Division. They presented a plan on how to turn online contacts into store visitors using Brand Appeal, innovation and technology.
- “What the best Private Bank in Monaco would look like ?” was the project given to the MBA students, specialized in the Finance field, by Barclays. The top management of Barclays was impressed with the re-positioning alternatives the students came up with.
- Cru Wine Investment Ltd. requested a business and financial model for a Car Collection Investment Funds to a group of MBAs.
- Last but not least, another team worked with the Marketing Managers of the Monte-Carlo Société des Bains de Mer to revamp and sell the Monte-Carlo experience to become a preferred destination for the new generation of HNWI/UHNWI from China, Australia, Silicon Valley, Brazil, India for all the market segments of SBM Monte Carlo: Shopping, Casino, Hospitality, Culture.
And, as in previous years, several Monaco MBA students were driven by their own entrepreneurial visions. In lieu of a Corporate Consulting Project, they pursued their own Individual Projects and accordingly created business plans for them. One young man’s Individual Project was to create a strategic plan for the continued growth of the printing business which has been in his family for generations. Another young woman crafted a business plan for her eponymous company, D’Ora Tokai, then intended to be a Monaco based on-line luxury fashion and apparel company. This company is now a reality and fully operational. Dora is travelling the world meeting with retailers and end users interested in the unique design and concept.
As for the Corporate Projects which this year’s MBA students will work on, several companies and organizations have already approached us with requests and the final selection will be made early in the New Year. We will keep you posted!
By Dr. Marika Taishoff, Director of the MBA
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