World Cup: MBA Style

By:  Chris Delp

After our short airport adventure and some luggage stacked on top of our bus, we made a quick stop at Hotel los Pinos and then continued on to the business school at INCAE.  We were greeted by the students and
had a hearty round of handshakes before we sat down to enjoy some delicious barbecue.  Over our meal we shared stories of business school and learned about some of the differences between their program and ours.   We also discussed our backgrounds and concentrations, and we found that we have quite a bit in common. I'm sure we all felt very fortunate for Wake's schedule when we learned that they are in class all day almost everyday, live
on site, and have Saturday deliverables. 

Next, we had a brief photo op, which included some group pics and some glamour shots.  Once we were done, we moved over to the futbal field for the main event.  We knew we were in for some trouble when the other team broke out the jerseys and cleats.  Thanks to a spirited effort on both sides of the ball and the opposing team generously sharing some players, we had a very close and fun match.  The game ball was split between Denmore for his two goals, Andy for his excellent D, and Joe for manning the net (sorry Scott).  On the other side, "El Profesor" was the all star, scoring two goals and ending the game with a forward roll.  Both teams had great support from the sidelines. 

After the game was finished, we continued networking and will definitely keep in touch and meet up with our colleagues at INCAE again.  We said our goodbyes and loaded back on to the bus to head back for some quality bonding time with our trip-mates.

Lasting Memories

By: Walt Elder

My trip to Nicaragua has been both action packed and rewarding.  We have done everything from touring the country, to consulting for local businesses, to teaching seminars here in Managua.  The combination of 85 degree weather, a filled schedule, and switching between Spanish and English has left me quite tired, so my spirits were high today since it is our last day of teaching before two days of relaxation. 

The day started with breakfast at Hotel los Pinos, where fellow students traded stories of where our various nights took us, some danced salsa, some took a bus to a wonderful restaurant, and some chose to make new friends at a local bar.  Making the Nicaraguan news last night left us all feeling a sense of pride in our efforts here.

After arriving at Casa Dingledine, Miranda Dean and I were in charge of teaching networking to a group of female business owners from around Managua.  Their businesses include luxury hotels, custom made furniture, cookie production, exporting used batteries, etc.  It has been great to learn from local entrepreneurs and to apply the principles we learned this year at Wake Forest to their businesses.  In order to teach the networking seminar, we decided to expand the network possibilities and join Anthony Tuttle and Lauren Williams who were teaching the same lesson.  We started with an interactive activity to get everyone loosened up a bit, then explained the power of networking, and finished by teaching the business owners how to create their very own 30-second commercial, which we then practiced during a speed networking exercise.  The students were apprehensive about presenting their story in such a short amount of time, but after working with them, they were convinced.  The learning continued, but this was my last teaching session.

Next, I interpreted for Ajay Patel and Sherry Moss and a group whose mission is to promote sustainable practices in the Nicaraguan lumber industry.  The group is potentially interested in partnering with Project Nicaragua.  It was interesting to see Ajay and Sherry work to expand our reach here and benefit more people.  It has been wonderful to be on a project where everyone’s hearts align in trying to help others in need. 

I spent the rest of my workday on projects designed to either better Project Nicaragua or one of the companies we visited earlier this week.      

My day ended with dinner on the terrace of beautiful Casa Dingledine overlooking the city of Managua and the lake it borders.   Our celebration meal, for a week of hard work, was a traditional dish, Caballo Ballo, served on plates lined with Banana leaves and accompanied by the omnipresent Flor de Caña.

I’ll never forget my time in Nicaragua.  I have bonded with fellow students and teachers in the Schools of Business, I have experienced a culture first hand in a mutually beneficial manor, I have applied the concepts I have learned in school, and I have thoroughly enjoyed every second of it.

Good Things Come in Threes....When They are Seminars!

By: Brandon Belk

Yet another phenomenal day in Nica!  Today we began our first day of teaching our seminars in both Managua at the WFU property and Catarina.  We had two beginner seminars in Managua and one advanced in Catarina with over 40 total participants! Each of the businesses seem engaged and eager to learn fundamental principles of business that will surely serve as a solid foundation for further business success. Another point of excitement for the businesses involved is the opportunity to meet dozens of other business owners in various industries with different experience and perspective. 

Each of the students provided great summaries of the material given and helped engage the students in various icebreaker and group activities while those not directly involved in teaching spent a good amount of time working on deliverable assignments for the businesses visited in the previous days.  Continual productivity will most certainly help the Project continue to thrive and maximize our time while here in Nica!  I had the opportunity to teach the Brainstorming session here in Managua and it was great to see the businesses coming up with ideas to help each others’ businesses!  During the seminars, the Project had three different news outlets come to cover our efforts in Managua.  In fact, we had to interrupt our daily debriefing because we were on the news!  It was fantastic exposure for the program and we are looking forward to additional interviews as well!  I am grateful for the opportunity to be a part of this fantastic initiative and look forward to seeing how the Project grows in the future!

First Expectations

By:  Victoria Osborne

In the days leading up to the business visits, I was unsure of what to expect. I envisioned we would be visiting start-up businesses run by owners who had never operated a business before. I assumed they would be located in desolate, un-air conditioned buildings far off the beaten path. I was completely wrong.

All four of the businesses we visited were profitable, successful, and housed in great facilities. The first business my group went to was an embroidery shop called Nica Textil. The owner made all different kinds of clothes, including school uniforms. This place had the biggest sewing machine I’ve ever seen—it took up half a room and did complex embroidery at the touch of a button. She expressed interest in attending our Wednesday and Thursday seminars to learn more about promoting her products. Before we left, she gave us a large flag of Nicaragua which was extremely generous considering the size and quality of the material. Next we visited Eikön, a screen printing and graphic design shop. This site also had complex machinery that did amazing graphic designs, but it wasn’t extremely efficient. Although we went into these visits not expecting anything tangible, he too gave us a parting gift. He made us black buttons with the Wake Forest logo and the words “I was in Nicaragua!!”, which we absolutely loved and wore to the seminars. Third we visited La Mueblería, a furniture store that was the most impressive business we visited, in my opinion. The owner spoke English and told us all about the kinds of custom made items she has made for customers. She and her team have built full kitchens for people out of their wood, as well as constructed entertainment centers and bedroom furniture. She gave us a tour of her impressive shop and expressed her desire to utilize social media in order to advertise her product. After an incredible buffet lunch we visited our last business of the day, a chemical company called Diquisma. Diquisma was started a few years ago by three women who one day randomly decided to try their hands at mixing chemicals to make things such as soap. They now have 150 products, including dish detergent and hand sanitizer, and are trying to make their own bleach. All of their products are biodegradable and they want to find a way to advertise this fact to potential customers.

The owner of Nica Textil explaining the capabilities of the sewing machine.

 Eikön’s owner showing one of the MBAs his designs.

The owner talking about the custom items La Mueblería creates.

Diquisma employees making liquid soap.

Before heading back to the hotel to rest after a long day of traveling, our group met up with the other group at Nica Hope, an organization that encourages young, at-risk girls to make jewelry and other novelties from trash. They then sell these novelty items, with profits going to the girls and the organization. After picking out items to purchase (I bought drink coasters made out of newspaper), we went into the room where all of the girls were and, with their help, made bracelets. I love girly craft projects so I was very excited, and the girls were excited to have so many willing students as well. We all made different color bracelets out of string and wore them the rest of the day. I was pretty sad to leave because the girls were so friendly and excited about having company, but happy that we were able to spend time with them as well as buy some of their creations.

MBA and MSA students making bracelets.

Overall the first day of visits was eye-opening and inspiring. I learned so much from these business owners and was humbled by how successful they were, despite the fact that not all of the owners had significant formal education. It was also great hearing about what things they wanted to improve on to strengthen their business. Their specific problems came into play during the seminars, as we were able to modify the seminars to fit the needs of the business owners. Everyone we met was just as eager to learn from us as they were to teach us what they do every day, which inspired us for the upcoming seminars as well as the rest of the trip.

Tying it Together

First Hand Experience: Tying it Together

By Brian Price (MBA '11)



Brian Price (MBA '11) speaks during the advanced business seminar in Mangua, Nicaragua



Today is my favorite day of the Project Nicaragua trip.  It’s the day that really makes the whole trip worth it.  This is day 2 of the two-day seminar, and we have a chance to tie everything together for the business owners who participate in these seminars.  This trip is also the first in which we teach a case we all learned in business school – Allison Glass Works.  We typically offer a series of mini cases that may be a paragraph or two long in order to explain several concepts like accounting, pricing, and marketing.  But past feedback has told us the seminar participants want a bigger challenge.  So we gave the business owners the case to look at last night so that we could discuss it today.  We were very anxious to see how everyone would meet the challenge.

We were entirely blown away.

Business owners listen and engage in discussion about the advanced seminar business case study.



The participants were more engaged than I had ever seen.  They understood the material at least as well as any business student who had taken the case.  And they had less than 24 hours to analyze it.  We were all very impressed.  And the participants couldn’t have appreciated this change more – it really showed how to apply these business concepts in a real-world situation.  At the end of the day, we awarded certificates to the participants for completing the seminars.  It’s a learning experience on both parts, and I can’t wait to come back in March.

Seminar Graduation Day

Global Business Outreach seminar participants received their certificates on Dec. 16, 2010

Business Consulting, Embassy Visit and Nica Hope

Firsthand Experience: Business Consulting, Embassy Visit and Nica Hope

by Bridget Wilson (MBA '12)

Today we conducted two business visits, a trip to the U.S. Embassy in Nicaragua, and a tour of Nica Hope – an organization that hosts after school learning activities for underprivileged children in Managua.

Samples of Cereales Dona Zeneyda products

Workers prepare the cereal for packaging

The first business was Cereales Dona Zeneyda where the owner, Iveth Cerda, makes a breakfast drink powder, similar to a protein or meal shake, in the back of her house and sells her product to various stores in and around Managua. 

Iveth Cerda shows the smaller package to the group.

  

Iveth’s business has been growing and she has been looking at creating different size packages to break into a smaller, convenience store, market of daily drinkers looking for single servings.  Our group discussed some ways to reach this market and will work on developing a plan that also helps Iveth develop a distribution strategy and more precise costing for the smaller product.

The second business was a sewing and embroidery shop owned by Sofia Velasquez that focuses mainly on tailor made uniforms.  Sofia’s customer base is mostly government contracts for uniforms, and she stands out from her competition by making tailor made uniforms for each individual. 

 

                                                            

Seamstress works on a custom uniform











Over the past year Sofia has changed locations and also the name of her business.  One of the on-site recommendations we were able to provide today was to create a letter to her customers stating her new location and name in order to ensure she does not lose business from this move. 

Our group is also going to work on deliverables aimed towards helping Sofia attain other uniform contracts and network with other businesses and contacts to grow her customer base.

Following our two business visits we spent an hour at the U.S. Embassy getting a big picture understanding of the issues Nicarauga is facing as well as a better understanding of how the country operates. 

Our day ended at Nica Hope where we had the opportunity to tour the facilities used by children in the local community to study for school and raise money through jewelry and craft sales.  The children at Nica Hope design, create, and sell jewelry across Managua and overseas.  The money made by the children supplements their learning materials and facilities upgrade while also allowing the children to make a small stipend.