The International University of Monaco (IUM) aims to foster relationships between its MBAs and its corporate network
During their study at IUM, MBAs learn through lectures, case studies, and corporate projects where they are forced into smaller, diverse teams, incubating soft skill development throughout.
Examples of Corporate Projects 2017
As part of her experience at IUM, Monika Polle, a freshly graduate from the 10-month Full-Time MBA, worked on a corporate consulting project with the private jet terminal at Nice Côte d’Azur International Airport, focusing on the luxury customer experience to refine the shopping culture there.
Herself Hungarian, she worked together with students from Jordan, Switzerland, Russia, Israel, and South Africa. Learning from disagreements and altercations, says Monika, is part of developing a keen sense of leadership and emotional intelligence.
“Not everyone has the same motivation on these projects,” she admits, “but this really helps to reveal the leaders within the group as you’re forced to push everyone together to work as a single unit.”
After 10 years of experience in luxury perfume sales consulting, Monika wanted to innovate within the industry. She was drawn in by the IUM MBA’s Luxury Management specialization and an intimate, diverse class.
A member of that student body, and fellow graduate and corporate project team-mate of Monika’s, Sibylle Tellenbach, pursued the IUM MBA for the same reasons as her classmate.
“Every professor knew us by name,” she recalls, “and the relationship you have with them is very personal—they have time for everyone.”
Transitioning from a career in the financial industry, Sibylle reveled in the holistic approach to business given by the IUM MBA.
“The MBA really helped me get an overview of all the different fields that you don’t have the opportunity to look into when you work for a company,” she explains.
Aside from the project with Monika, Sibylle’s final MBA project required her to design a social media strategy for a client working within the private hotel residence of Beauvallon, St Tropez.
Working with clients whose customers include Ultra High Net Worth Individuals (UHNWI)—those with investable assets of at least $30 million—who, adds Sibylle, Forbes notes as spending over 48 hours per week on their social accounts, she was brought into a “very unique” luxury management setting.
“The behavior of luxury consumers is really different to the normal consumer,” she adds, “so for me it was quite challenging.”
But, she concludes, in the days after her team submitted their strategy to their client, the company held a board meeting and decided to take all the information on board and implement it into their own strategy!
Finally, Barclays challenged the MBAs specialized in the Finance field with its “What the best Private Bank in Monaco would look like ?” question. José Amador and Hugo Sanchez, both Spanish, took up the challenge. The top management of Barclays was impressed with the re-positioning alternatives the team came up with.
“Monaco is one of the most important financial centers for ultra-high net worth individuals in the world,” Hugo explains. “For someone who wants to pursue a career in private banking, it’s a very special place.”
Corporate projects lend themselves nicely to future relations with companies in the region and internationaly —in the past students have also worked with Puma, Burberry, Barclays, Fairmont Hotel, and the Monaco Venture Capital Association.
As every year, several companies and organizations have already approached us with requests for next year. We will keep you posted!
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