And We’re Done – Key Takeaways From Rio

Now that I’m currently en route to Los Angeles, ready and anxious to begin my summer internship with DIRECTV on Tuesday, I have finally found a few spare moments to write one last blog post. With the global IRP trip nearly 2 weeks behind us, I just wanted to take a quick moment to debrief you all on what happened toward the tail end of our trip.

The last few days of our trip was anything but quiet and relaxing (although we did manage to fit in one more beach volleyball match). Albeit our sightseeing and adventure activities, our schedule was jam-packed with many more fabulous speakers, including Coca-Cola, Pedro from Effect Sports Marketing, Jay Newhouse, the Director of Marketing at FIFA, the Rio Convention and Visitor’s Bureau, and Sandro Sato, a representative from Dow Chemical responsible for executing his company’s TOP Olympic sponsorship program. Among topics the various speakers discussed during their respective presentations, there’s one common theme that emerged – doing business in Brazil, whether it’s sports-related or not, is tough. There’s a lot of “red tape” (as one Brazilian business executive put it) and it’s tough to navigate the Brazilian government and respective business policies.

On a slightly different note, one thing that many businesses are often (correction, always) concerned about when making the decision to sponsor sporting events and how to activate the partnerships is, of course, the associated ROI. While eyeballs are great, and we all intuitively know that marketing and sponsorship spend positively correlates with awareness, and perhaps even trial, above all, this trip really taught me that event sponsorship does have business and financial value, especially with an event like the Olympics. Sandro from Dow Chemical shared a few numbers with us: Directly attributable to the Olympics, a study done by Embratur and PWC projects $14.4B in direct investments, $11.6B in city infrastructure, and 11mm tourists per year by 2020. Someone has to execute these contracts and cater to these new visitors, right? Though it’s not explicitly stated in the contract, it is often inferred that Olympic sponsors have a better shot at winning these contracts. So if a company pays, say, $600mm to become TOP sponsor, but is awarded a $1B new business contract in the process… Well, you do the math. Not to mention the positive brand association value that can never be stamped with a price tag. So in many cases, as long as a sporting event sponsorship program is executed correctly, the results more than pay for themselves.

After all our meetings had passed, the only thing standing between our group and the long plane flight home was the final presentation. This is where we had to boil down 10+ weeks of research on our assigned topic areas into a 15-minute presentation. Our group did a lot of preparation, but in the end I think we gave a great performance, and the attendees seemed to be enthusiastic about our research. Presentation – Down! Time to go home! Here’s to a trip well done.

After saying goodbye to Rio for good, I jetted off to Buenos Aires to enjoy the “Paris of South America” for 5 days with a small group of classmates. It was nice to contrast our experience in Rio with another, more developed area of South America, as well as enjoy some well-deserved time off. While in Buenos Aires, we enjoyed several nice dinners, quite a bit of sightseeing, and an Argentine football match. But of course, Buenos Aires wasn’t all fun and games, as I still had my portion of our group’s final report to finish in my downtime. But our report came together quite nicely (all 106 pages of it!) (Side note, if you are interested in reading my group’s 106-page final write-up on Spectator Experience, check it out!)

While the trip did have its down moments, overall, I enjoyed the IRP experience. It was a great time to go to Brazil, given their economic situation, and it was also neat to work with Rio2016 and meet and mingle with so many inspirational speakers. I found the information I learned on this trip particularly interesting to my current situation because, in just a few days I will begin my journey as a summer intern at DIRECTV in Los Angeles, and analyst comments regarding the company’s recent Q1 earnings reports cite its expansion into South America – particularly Brazil – as one of the primary drivers behind the company’s financial success. Now, as I’m getting ready to pack up my laptop and begin my final descent to LA, I must say goodbye… Or should I say, Obrigada!

~Andrea

A quick look at the work we’ve done…..A summary of Week 1

While the first week in Vietnam proved to be the busiest, the rest of the trip did not lack its action.  In the first week we had our meetings at SSI, Deutsche Bank, Morgan Stanley, CBRE, Colliers, Knight Frank, Savills, and we were lucky enough to visit the Bitexco Financial Tower in Ho Chi Minh City, Vietnam. 

Bitexco Financial Tower...and you thought Jose was tall!

The Bitexco Financial tower is the 124th largest building in the world, with 68 above ground floors and 3 basements.  One of our favorite parts of the building was the helipad located on the 50th floor. 

In these meetings with various financial institutions and real estate companies, I think a lot of us kept hearing the same theme as I mentioned in the previous post….the lack of transparency in the market.   It seems like such a foreign concept (get it?) to me because the laws in place here in the United States do not allow for non-disclosure.  It happens, I know, but that is how companies get into trouble in America. 

On Friday, business was left behind and most of the group began different travels all over Vietnam.  Our beloved TA, Erin, took a few of us to Cu Chi Tunnels. “The tunnels of Củ Chi are an immense network of connecting underground tunnels located in the Củ Chi district of Ho Chi Minh City (Saigon), Vietnam, and are part of a much larger network of tunnels that underlie much of the country. The Củ Chi tunnels were the location of several military campaigns during the Vietnam War, and were the Viet Cong‘s base of operations for the Tết Offensive in 1968. ” (Wikipedia).  I unfortunately did not get to go, but I hear the highlight was getting to fire guns.. 

Kirstin, Leilani, and I took a trip to the island of Phu Kuoc, which is the largest island in Vietnam.  We called it heaven.  I think I honestly said ‘this is the life’ at least 5 times.  As we spent most of the time in the sun, soaking up the beautiful beaches (Bai Sao being our favorite), but we also enjoyed the motorbikes, the best night market including some of the best crab I have ever had, and squid fishing (huge fail catching anything).  I was shocked because I didn’t think Vietnam was really known for its’ beaches, but boy was I wrong.  Phu Kuoc is also known for its fish sauce and the production of black pepper.  The black pepper tasted amazing and accompanied every meal with a lime. 

Bai Sao...our favorite round boats.

 

Another group went to Hoi An.  I’m guessing that it was a good time because JD, Virginia, Leilani, and I had gone there a few weeks before and had the time of our lives.  I also had spoken to many of them and had gotten the idea that they had packed in a lot in a few days, including motorbikes, shopping, beaches, jetskiing, and eating.  

Overall, Vietnam is beautiful! I think we can all agree…

The one where we went to a Turkish Bath

Our IRP did not end with the final presentation and delivery of our client report. No, Turkey had an additional number of assignments and reflection questions due. Writing about our feelings proved too much, and a few of us escaped to a delightful Turkish Bath for some relaxation.

Rewind to the morning. A representative from a nearby spa accosted us on our way to the beach and showed off a pamphlet of such caliber and professional design that it could have only been made in Microsoft Word. For a mere 50€, we could experience the luxury of a facial, massage, and Turkish Bath. Lauren, Katie, and I made our appointments.

I had only ever experienced the pleasure of a traditional Thai massage. The kind where the women use their elbows to dislocate your shoulders. Lauren and Katie assured me that this would be soothing and that, in their previous American spa visits, we would go au naturale. Naive, wide-eyed, innocent, I believed their words.

After we changed and wrapped picnic blankets around our bodies (I swear, they were red and white and probably pilfered from Yogi bear), we were led to the sauna. The room was tiny and hot, and for a brief moment I believed the door had malfunctioned and we were locked in. Have no fear, my public education taught me a few unforgettable lessons. In case of a fire, the coolest place is the floor. As I tried to convince the others to lay on the floor if they wanted to live, Lauren opened the door. It was pull, not push.

After we were led to the Turkish Bath room, we stood in awkward silence. Two of the attendants were male. They smiled and then, looking at our picnic blankets, also stared awkwardly. Finally, one broke the silence and asked, “No bikinis?”

Once that issue was resolved, we returned to the steaming Turkish Bath. There was a large marble table in the middle of the room, with three mats on top side-by-side. As we laid down and settled in, the attendees began to throw buckets of water on us. The buckets of water turned into bags of bubbles and soap foam, which Lauren and I both accidentally inhaled. Because, you know, people have to breathe. They then slipped on scrubbing gloves. Katie’s guy almost broke her back. Lauren’s guy almost melted her face off with hot water. And lucky me, my attendant was a Thai woman who used her elbows to dislocate my shoulders.

As for the massage, both Katie and I were forgotten in our rooms. Lauren was left out in the waiting area where she entertained European guests touring the facility. And that concludes the story of the time we went to a Turkish Bath.

Early Bird Special

The average age in Turkey is 29. The average age in Bodrum (a beautiful city in Turkey), at our lovely beach resort, is 65.

When we arrived, it was dusk with a wonderful breeze coming off the water. This was our view as we dined on grilled fresh fish.

Why yes, that is our own personal dock-pier-boat thing.

There was also a live band playing “artistic” covers of American hits. Midway through the evening festivities, the band took a break and the resort entertainers declared a LIMBO contest. Well, obviously, we had to represent GW proudly and took the dance floor. Our competition was stiff and we left broken hips and broken hearts in the wake of our utter limbo domination. You are looking at the Limbo Queen, or what they now call me at this resort when they forget my name (everyday, they forget my name everyday).

My prize for winning was a “Molotov cocktail”, though I’m pretty sure that one was lost in translation.

The ‘Best Of’ Brazil

Our trip has finally come to a close, but before I write one last blog post summing everything up, I wanted to sum up the best moments of our Brazil trip… in photos.  So, presenting to you, the ‘Best of’ Brazil!

Best Workout Sesh

Yes, this one goes to the lovely Sarah Durkin, who was so anxious to work off her large steak dinner that she forgot to throw on her workout clothes.

Best Hat

I don't think there's any explanation needed here

Coolest Sandcastle

“I built that”

Cheesiest Pose

Alex would prefer I call this the “Coolest Person” photo.  Whatever works.

Best Yoga on the Beach

Comment number one – Yes, Yoga on the Beach is not made up; it is a real thing they do here in Rio. Comment number two – Durkin must really like working out?

Best Beach Volley Game

Beach + Volley = we definitely need some practice

Best Bromance

Again, no explanation needed

Best IRP!

Game Day

On Thursday May 19th, the day came when we presented our conclusive findings via formal PowerPoint presentation to our respective clients, professor Helm, representatives from the Swedish Chamber of Commerce. The venue was also very special because the event took place in a fancy, dated conference room of an 18th century hotel. Apparently, just next door, were the offices of the historically famous Swedish East Indian Company.

As the presentation commenced, I realized how this morning represented the climax for the past 3 months worth of work with the clients. I remember how, initially, there was a mountain of work to be done and that now it was all coming to end in a nicely packaged presentation that could very well affect the future of each of the companies.  Not only that, this moment represented the end of the first year of the MBA program where we applied all we had learned during the first 4 modules of the program to the consulting project for a real company in another country.  I can tell you that the final round of applause, after the last group presented, carved a deep smile on my face.

And that’s a wrap for this blog! Although blog posts do not always do real life experiences much justice, I hope you enjoyed reading and have a good idea of what the Swedish IRP was like.

The participants of the Sweden 2011 IRP

To Montenegro

You can take the recent lack of posts as a sign that I’ve been having fun. Or, at least, that I’ve been busy. Since our last chat, I’ve finished my IRP, left Serbia, and experienced Bill Clinton. Let’s move backwards…

Rachel and I are in Budva, Montenegro, playing Texas Hold’em with Vesper Lynd taking a much deserved break from meat platters and power point presentations. We arrived this afternoon after an overnight train ride that included an early morning breakdown. We’d been alternately warned to avoid the bus and avoid the train to Montenegro. Maybe neither are ideal, but if Montenegro’s the destination, getting there any way is worth it.

The days leading up to our departure were filled with final rounds of presentations. This time, though, our clients came and we presented our actual proposals. Exciting stuff! It was amazing to see how each team upped their game over the last round of run-throughs. One after another, each group nailed their final presentation. So, by the time my group, Team Biotrend, took to the projector, the ante had been seriously upped.

I don’t know how the other trips stack up, but for us these projects have been great capstones to all of our school work over the past year. We came for a marketing project, but every lesson, from Lucea’s International Management to Kulp’s Managerial Accounting, to Timm’s Business Communications came rushing back. Most of all, if you talk to my fellow Dobra Cobra’s, you’ll find a lot learned about working in teams, under pressure, with little direction.

Most IRPs had big projects working on big important stuff. We, in Serbia, had more modest projects; helping a mother and son sell some family recipes in a neighboring country, for one. But when the scope is small and the client company’s management is intimate, the depth of the experience just grows amazingly. Each of us had to call on the best that we could give to these amazing companies. In turn, they gave us their best too (in my team’s case, they gave us hand-made aprons!)

Now, we’re all done and the Dobra Cobras are scattered across Europe. Drew’s off to Turkey. Lissi and Aleena are in Croatia. Karen is in Greece. Varun’s heading back to India. Elliot’s in Rome… and Rachel and I are off to our trek through Montenegro and Bosnia. Even with all these new adventures and distractions, I bet that most of us are still thinking about Serbia, our clients, our new friends, and the unbelievable experience we had there.

Viking Village

Sunday was indeed a fun day. We went to visit a place called AH Frösåkers Brygga. This is basically an almost exact replication of a viking village. It was fantastic. The people there were pretty much living in viking times, wearing their same clothes, cooking with the same equipment used back then and…you get the idea.

•  Introduction to Viking-Ville

Our Viking guide addressing the group

  We were given an introduction to the viking culture and how the heritage has   passed down through the blood lines over hundreds of years. The room we are sitting in was fascinating. It contained so many real artifacts from the era and, initially, everyone was walking around in awe at this historical playroom they stumbled upon.We were informed about common misconceptions. A particularly interesting one was how vikings were dirty people. The truth is that they went to great lengths to be hygienic in their day-to-day lifestyles.

•  A very interesting coin

Ancient Islamic Coin

International trade existed between the vikings and many other civilizations from widely dispersed parts of the world. The famous silk road that winded from the Far East through India, Arabia and Persia to Europe was a common trade route. According to our guide, this coin is over 1,000 years old. It was the form of currency used to pay Arab merchants most likely in Damascus, Syria who manufactured and/or transported such goods as swords, shields and silk. Hence, much like today, there was an active movement of goods from East to West. To me, this coin is fascinating. Lamiaa pointed out very correctly that the language on this coin is Arabic and reads ‘La ilaha illa Allah’. Translation: ‘ There is no god but Allah ‘.  

Aragon not only has a cool Lord of the Rings name, he is also very powerful and can pull some impressive weight in terms of carriage and transportation load.

Let's pretend they know what they're doing

Viking on a smaller boat

A real Viking warrior (really)

A Tale of 2 Energy Sources: Smelly and Windy

As you all know very well by now, the purpose of this IRP was to consult Swedish firms on how best to strategically penetrate the US market. A secondary theme was to explore the fresh, dynamic and highly innovative renewable energy industry which is thriving in Sweden. In between client interactions, we have spent a lot of time engaging in this facet of Swedish industry. In this post I will discuss 2 site visits that fall under the clean tech category.

The first visit was to a place called AH Vafab. Here, they convert regular human waste into energy. I want to be cognizant of how I use the words ‘regular waste’ so casually next to each other because the smell of this place cannot, by any stretch of the imagination, be considered ‘regular’. In fact, it STUNK. Unfortunately, I did not capture our walk through the smelly facility on video as we were all trying to make it through the 10 minute walk-through without seeing our breakfast in reverse. What I can do is verbally paint a picture of how bad this place smelled. Imagine you are in a bathroom (with a broken flusher) where the whole city’s trash (ALL kinds of trash – food, sewage, unidentified objects etc.) is surrounding you – and has been there for 1,500 years. The smell was so potent I could see the gas. I can most aptly describe the nasal assault as a combination of an old public restroom, rotten garbage and coffee (i don’t know why but there was a coffee smell for sure). Alright, I think that’s enough. I digress.

All poop aside, this facility is responsible for a pretty amazing piece of innovation: converting waste into energy and then redistributing that energy to productive sources of society once again. Sustainability at its finest.

The dump site showing the Raw Materials (literally)

Poop-to-Energy Converters (Note: scientific name unknown to author)

This energy-related site visit was followed by another one to Goteborg Energy in Gothenburg. This is a municipality-funded organization with a vested focus on wind energy. The firm is cognizant of the EU’s 20-20-20 goal. This agreement explicitly states that, by the year 2020, each EU nation should ensure a 20% reduction in greenhouse emissions, 20% increase in energy efficiency and a 20% minimum use of renewable energy consumption. Sweden is already ahead of the curve in this regard but it aims to stick to the plan by all means necessary. Goteborg Energy’s goal is to build and operate 100 wind turbines by 2015. In terms of electricity consumption this translates into 10% of Gothenburg energy consumption. The most interesting thing I learned on this visit is that wind energy transmission is becoming increasingly efficient. Certain engineering companies like ABB are helping to improve this process. Therefore, it could be feasible to build large wind farms in desolate areas like deserts, forests or offshore to generate enough energy to power urban areas close by.

To me this speaks volumes. As a Saudi Arabian national, one might assert that I should not even be thinking about a new source of energy when oil grows ‘in our backyard’. However, this is not the case at all. Pollution and climate change are REAL problems that need to be addressed. Moreover, as a Red Sea snorkeler and scuba diver, I can vouch for how much destruction has been inflicted upon the coral reefs from petrochemicals and other harmful waste byproducts. So, in short, seeing this wind turbine standing majestically before us was literally a breath of fresh air.

The Wind Turbine

Sue showing her affection for the Wind Turbine

A group of us entering the turbine

Back to reality…..Gooooooood Morning Vietnam!!!

I know, I know…you saw that one coming. 

I have to apologize to all of the Vietnam IRP followers.  I have not posted in awhile and there are a couple of reasons. 

The biggest reason has been the fact that switching from vacation to work has been a jolt to reality, as I am sure you all are quite familiar with.  Day one started off as a busy one where we spent the morning with Deutsche Bank learning about financial status of Vietnam.  It was there that we realized that Vietnam still has many unconventional ways of raising capital.  All I can say, or anyone else in the group for that matter, is what we were told…..the market lacks transparency.  Allowing more transparency leads to a lack of control, which none of investors or business professionals in Vietnam seem ready to give up.   We then moved back to our hotel for an overview of the hotel market and on to SSI where we again heard about the financial status of Vietnam, including the effects of inflation, unstable currency rates, and the usual obstacles that come with developing an emerging economy.  Our week continued with many meetings with real estate developers and financial institutions.  I can give you better descriptions in upcoming posts. 

That brings me to my next point.  You will notice that there are not many pictures in this blog.  One of the most important items I needed to bring was a camera cord.  Two cameras, one cord, and the wrong file types coming from the camera that has a cord leads to a boring looking blog.  Plus, I don’t want to make you all jealous with the amazing pictures we have from different travels . 

I also don’t want to make the other bloggers jealous….one of the highlights of the very first night was our encounter with Joe Jackson. For those of you that don’t know, it is Michael Jackson’s father.  It was a huge virtual fork in the road for me as I am a huge Michael Jackson fan.  I couldn’t decide whether to not like him because of all of his controversial stories or if I should like him because of his DNA.  Either way, it is one of the only pictures I have thanks to one of my classmates.

There are some great pictures from my camera, as well as from others.  More to come….