The MBA Induction Week 2019 is not only to discuss the academic facets of the program, but also to introduce students to the unique aspects of living, working, and networking in Monaco and on the Cote d’Azur
On Monday, September 30th, to kick off the week and the academic year, presentations were given on such diverse topics as setting up a business to networking in Monaco. These themes were further explored later that first week when students were introduced to IUM’s Career Development program and in particular our Corporate Relations & Partnerships activities.
Monaco, where you will be learning and not just studying
In the morning, Dr. Marika Taishoff, Director of the MBA program, introduced the MBA journey to the new students: modules, courses, pedagogical philosophy, and assessment approach.
Then, thanks to the enthusiastic participation of some of Monaco’s leading entrepreneurs, government officials, and event organizers, IUM MBA students learned about the economic and entrepreneurial dynamism of Monaco; about the institutions and laws governing Monaco; about the unique cultural norms and traditions of the area; and about how and where to network so as to meet members of Monaco’s thriving international business and entrepreneurial community.
Mrs. Annette Anderson, President Monaco USA Association, explained to them How to Get the Most out of Being in Monaco. Also, Gry Glenne, MBA Class of 2019, shared with them hints and tips on her MBA journey.
To conclude the first morning, students had the chance to welcome Guillaume Rose, General Director at the Monaco Economic Board, who spoke about Monaco’s Competitive Pillars and Economic Challenges.
The Monaco MBA class, as diverse as usual
As every year, diversity is the key characteristic of the Monaco MBA class: 22 students from 13 nationalities coming from countries such as Mexico, Malta, the UK, Poland, or Canada, not to name a few! Their experience and background are also very varied: entrepreneurs, communication director, engineer, private banker, or lawyer, are sharing the class this year.
With such unequaled diversity, a team-building course is crucial. Led by Dr. Julie Haddock‐Millar, specialized in learning and development (L&D), mentoring, and coaching, the aims of these sessions are to create and foster team-building skills, develop trust in one another, and appreciate the need to balance planning along with rapid decision making. Through a variety of exercises, games, and intellectual challenges, IUM MBA students will quickly absorb the learning and will see the applicability of it to their studies and, more importantly, still, to their personal and professional lives.
The Career Development Program and The Mentorship Program
On Wednesday, the MBA students met with Mrs. Sophie de Lorenzo, Corporate Relations Director, and Mrs. Caroline Frisenberg, Executive Search Professional and Career Coach for the Monaco MBA students. They presented to them the program of the Career Development program inside and outside the classroom. As important as the academic MBA curriculum, MBA students have ongoing opportunities to meet and network with members of the business and entrepreneurial community for which Monaco is so well known.
Thus, for lunch, thanks to a series of presentations from top executives of such leading Monaco based corporations and associations—such as the Monte-Carlo SBM, The Monaco Venture Capital Association, and the dynamic incubator and accelerator, Monaco Tech—students were introduced to the underlying commercial dynamics that make Monaco unique.
After this fruitful lunch, Mrs. de Lorenzo presented the Mentorship program, which offers the MBAs the exceptional experience of benefitting from the guidance, insight, and knowledge of CEOs, top executives, and successful entrepreneurs from a variety of sectors and countries.
Then, for two days, the Career Dept team has received each and one of the MBA students for an individual career counseling session.
It ended with numerous social and cultural activities
However, Induction Week would not be complete without an invitation to visit and, exceptionally, join the private club called CREM. CREM, the Foreign Residents’ Club of Monaco, allows members to meet in a quiet, comfortable, and luxurious clubhouse setting as well as to participate in the numerous social, economic, cultural, and sports activities happening within the Principality. While the CREM is exclusively limited to Monaco residents, and has a steep joining and annual fee, thanks to an exclusive agreement with IUM, our MBA students—regardless of whether they are Monaco residents or not– may join at a significantly reduced rate and still enjoy all the amenities the club offers to its members. It certainly provides a very comfortable setting in which to study and do group work, as well as to relax and read the international newspapers available there.
After such an intense first week, which also included courses on Accounting, Marketing Strategy, and Economics for Managers, students were able to relax and enjoy wine and snacks overlooking the Port.
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