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.

Business Visits

First Hand Experience - Bridget Wilson (MBA '12) 

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

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’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.  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 US 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.

December 2010 - Day 1

Our first day in Nicaragua was one filled with excitement and cultural experiences.  We went on a tour of Managua, Masaya and Granada. 
We learned about the problems with heavy pollution in the Lake Managua and saw the potential of this natural resource if it can be cleaned up.  In the National Museum of Nicaragua, we saw both old and new works of art.
In Masaya, we went to Nicaragua's first National Park and got to stand on the edge of an active volcano.  We shopped at the Masaya market and had a chance to see goods sold by local business owners. 
The beauty of the colonial architecture in Granada was breathtaking...literally.  One by one we walked up a narrow staircase to go up into a bell tower and look out over the city.      
The day ended with a dinner in which many of us tried Nica food for the first time.  We ordered a wide assortment of grilled meats, vegetables, rice and beans for a "family style" feast.  Nobody went to bed hungry.

Cultural Experiences: Day 1

Our first day in Nicaragua was one filled with excitement and cultural experiences.  We went on a tour of Managua, Masaya and Granada.





One of our first stops was Lake Managua.  We learned about the serious pollution problem due to years of sewage flowing into the lake and noticed the potential of this natural resource if it can be cleaned up.  We also went to the Plaza of the Revolution where we saw the Old Cathedral of Managua, Rubén Dario National Theater, National Palace of Culture and Tiscapa Lagoon.   In Masaya, we went to Nicaragua's first National Park and got to stand on the edge of an active volcano. We shopped at the Masaya market and had a chance to see goods sold by local business owners.  The beauty of the colonial architecture in Granada was breathtaking...literally.  One by one we walked up a narrow staircase to go up into a bell tower and look out over the city.  After that, we headed to Wake Forest's property in Managua to see construction finishing up on a training and conference center made possible by Thomas A. Dingledine (MBA ’78) and his wife, Karyn.


The day ended with a dinner in which many of us tried Nica food for the first time. We ordered a wide assortment of grilled meats, vegetables, rice and beans for a "family style" feast. Nobody went to bed hungry.

Many Firsts in March 2010

Project Nicaragua’s March 2010 trip was full of firsts. In addition to continuing our usual activities delivering seminars, going on business consulting visits, and checking up on our lending program, we added a few new activities to our week in Nicaragua:

1. We expanded our business seminars to a new location in Nicaragua—the city of Catarina. While one group of students stayed in Managua to teach beginning and advanced seminars, a smaller group of students traveled an hour away to Catarina to deliver our beginner seminar to 20 new participants. The business owners loved the content and made us promise to come back. We see a lot of great, new business relationships coming out of this in the future.

2. Project Nicaragua is expanding its outreach efforts with Nica Hope. During our visits to Nicaragua, we often visit a nonprofit called Nica Hope, which provides education and job training to children who live in the local dump, La Chureca. In the past, we have gone to spend time with the kids, play games, make crafts, etc. Nica Hope suggested a different activity for this visit, which we really enjoyed. The teens who participate in Nica Hope’s jewelry program paired up with each of us to teach us how to make bracelets, necklaces and earrings. We had fun interacting with the kids, and they got to see how talented they are compared to us!

While we were there, we also delivered about 50 pairs of shoes and $100 in cash to buy children’s sized shoes, which were donated by faculty, staff and students at Wake Forest.

A few of us from the first-year MBA class will also work on a pricing and marketing channels project for Nica Hope’s jewelry program during Mini 4, and Project Nicaragua is also considering creating a business seminar for the teens and kids in the future.

3. One of the most exciting new aspects of our March trip was getting a briefing from the U.S. Embassy. One of the lead economists from the embassy visited our group to discuss the elections that took place that week and how the political aspirations of the country’s president may affect Nicaraguan businesses in the future. This helped provide greater context for the type of environment the business owners we work with are operating within.

This was another successful Project Nicaragua trip, and we are looking forward to growing the program and continuing to improve our seminars, deliverables and lending process for future trips.

Alumni Invited to Reconnect; Project Nicaragua Expands to Catarina

Alumni Invited to Reconnect with Project Nicaragua
As Project Nicaragua grows, we would love to incorporate the new skills and experiences of our dedicated alumni into our work. We are establishing a database of alumni who we can reach out to for assistance with some of our consulting cases, strategic planning, and development.  We are also looking to bring in guest speakers to discuss international business development, doing business in different cultures, how to be an effective consultant, and more. If you want to stay involved, please fill out this short survey to provide us with your information and areas of interest and expertise.  Be sure to pass it on to family, friends, and co-workers who might also be interested!

Project Nicaragua Expands to Catarina
In March 2010, Project Nicaragua will expand its seminars and consulting work to a second location in Catarina, Nicaragua. After three years working with local entrepreneurs in Managua, the club will begin serving 15-20 new business owners in Catarina. Some of the entrepreneurs are sure to be nursery owners because Catarina offers the perfect soil and climate for gardening. A tourist destination, Catarina is known for its lookout point, Mirador Catarina, which provides panoramic views of Apoyo Lagoon, Mombacho Volcano, Lake Nicaragua, and Granada. (See photo.) Students visited Mirador Catarina during the January trip and saw its many gift shops, street vendors and nurseries firsthand.

Student Leaders Selected for 2010-2011
Six first-year MBA students were recently chosen to lead Project Nicaragua. Curt Webber is the club leader. Chris Des Barres, Jeff Hughes, Kathleen Ketchum, and Brian Price are serving as pod leaders.  Sandie Taylor is chair of Communications and Nica Hope. While the second-year students will run the club until March, the new first-year leaders will take over the club on the March trip and carry it on towards next year. We’re really impressed with this new group of leaders and know that they will do an extraordinary job! 

New Seminars Added for Advanced and Beginner Series
After hours of hard work and dedication from each of the four pods, both the advanced seminar and beginner seminar were revised and re-vamped prior to our January 2010 trip. Based on the feedback provided by past seminar participants, a few new topics were added, including a new favorite entitled “Motivating and Retaining Employees.” The beginner seminar is tailored to only those participants that are brand new to the Wake Forest seminars. This year, we had the opportunity to meet and work with 16 new and diverse business owners!  The advanced seminar is designed for our veteran participants and dives deeper into topics, such as “Market Research” and “Budgeting.”

Every one of the 18 students that came on the trip had an opportunity to team-teach, and they each brought a new and fresh perspective to the topics, including “Break-Even Analysis”, “Introduction to Operations,” and “The Four Keys to Marketing.” The effort from the students definitely paid off, and the seminar portion of the January trip went off without a hitch!

James Preston Russell Memorial Fund to to Make Donation and Personal Visit to El Herrero
Last August, one of our most active charter members of Project Nicaragua, James Preston Russell, passed away in his sleep.  He had a rare heart defect that was never detected. His parents and his sister knew of James' passion for Project Nicaragua and his deep interest in the success of a vocational school, El Herrero, which was a key part of the school's first trip to Nicaragua. James was passionate about the mission of the school: to train young men to forge beautiful, artistic pieces out of metal that could be sold to help them make a decent living. Mike Diebert, the founder of the school, inspired James with his work. In memory of James, many students, faculty and friends of James' family have donated more than $5,000 to the James Preston Russell Memorial Fund. Jackye Russell, James' mother, will travel with students going on the March trip, so she can present this gift to El Herrero. She will join the students as they visit some of the entrepreneurs participating in the seminars, tracing James' steps through those places that inspired him so deeply.   

Project Nicaragua Inspires University-wide Initiatives

Project Nicaragua’s success has gained the attention of many at Wake Forest University. The university has established a steering committee, consisting of senior administrators and faculty, to develop a strategic plan for creating interdisciplinary activities in Nicaragua that enhance the university's research, teaching, and service mission. These activities should also reflect the university's motto of Pro Humanitate. Project Nicaragua, led by the Schools of Business, fits well with the motto and has been core to generating the university's interest in Nicaragua. 

The challenges confronting Nicaragua are not only business problems, but also legal obstacles, health and nutrition concerns, and a lack of general education. “By working together, we can bring holistic solutions to the people of Nicaragua and accomplish what our true goal is: poverty alleviation,” says Project Nicaragua Faculty Advisor and Finance Professor Ajay Patel.

The other activities the university is considering in Nicaragua will take various approaches to improving the lives of Nicaraguans. To date, several departments have begun faculty research and offered courses and service learning projects in Nicaragua.

Courses have included:

• The Writer and Society in Central America

• Enterprise Leadership in a Developing Country

• Interdisciplinary Environmental Sciences

• Global Nutrition

• Communicating for Health Behavior Change

While in Nicaragua, Wake Forest students and faculty have volunteered with NGOs and nonprofits, including Amigos for Christ, AMOS Health and Hope, and Nica Hope. This March, faculty and students from the Law, Divinity, and Medical schools will explore a potential collaboration to provide education, training, and hands-on care through AMOS Health and Hope.

Business Profile: Yasmin Gonzalez

Logo (left) designed by Vince Mac, MBA '10

Business name: Pochi
Type of business: Filtered water (bagged, bottled, 5 gal), flavored water, Cola products (not on the market yet)
Years in business: 20
Number of employees: 8 full-time         
Production per month: 900,000 bags

How and why did the business get started:  Pochi water is named after Yasmin’s daughter, Xochi.  Yasmin started the business with her own funds and Pochi has been steadily growing for the last 20 years. Her husband and daughter help with the business, too. 

Recent successes or changes: Pochi has installed solar panels in the bagged water area. We joked last trip about “raising the roof.” She has successfully done so, and this allows natural light into the production area, saves her money on electricity. The panels also help boil all the water and clean the 5 gallon bottles.

Current challenges: The government has taken all sugary drinks out of the schools, so Pochi is thinking about producing her bagged juices with all natural products. She knows that the 5 gallon business is just as profitable (if not more) than the bagged water. She currently has one contract, but would like to obtain more.

Description of most recent Wake Forest Consulting Project: We presented Yasmin with a new Pochi logo, and she loved it. She wants us to play around with altering the logo to reflect branded house or house of brands. She is still flip-flopping on this situation. We also gave her a large list of slogans and phrases for her water, juice, and cola. Her favorite was Pure Perfection for the filtered water.  She is trying to become more sophisticated, simple, and clean-lined, but still fun.

Notable Quote: Not word for word because we didn’t write it down, but paraphrased:  “I know I can be a stubborn woman, and when I first started coming to seminars I thought that I was right about everything. I had a hard time accepting new ways of thinking. Now, I realize that you must be open to other people’s thinking and suggestions. They still might not always be right, but listening and thinking can help your business really grow.”

-Written by Tori Peterson, MBA '10

Student Profile: Neeta Kirpalani

Program and year: MBA '10
Hometown: Asheville, NC
Number of visits to Nicaragua: 1

Which seminars did you teach? Advanced Operations

Favorite Project Nicaragua memory:                                                                             

Given that this was my first time to Managua, I really enjoyed interacting with my fellow classmates and seeing all our hard work finally brought to fruition. My favorite moment was visiting Catarina in an effort to better understand the demographics of this community, the types of businesses that are present in this area, and also determining whether an expansion of our services into this area aligns with the short and long-term strategic goals of Project Nicaragua.

What was your greatest learning moment on this trip?

I believe that teaching a seminar for the first time was a very eye-opening experience for me.  Needless to say, it is much easier said than done. Through this experience, I have a new appreciation for the teaching profession and how difficult it can be at first to overcome barriers such as language discrepancies or challenges in comprehension.  Because what is learned is only as good as the material that is being taught, I learned how important it is to ensure that deliverables are well-written and translated; culturally sensitive; and accurate.

What surprised you the most about Nicaragua and your experience visiting the country?

I was pleasantly surprised about how receptive the Nicaraguans were – not only in learning the information that was conveyed during the seminars, but also in learning about us as individuals. Their attitudes are warm and open, and I think that that plays a large role in the success of this initiative.

How has Project Nicaragua affected your business school experience?

Having worked in the non-profit sector for five years before beginning business school, I initially believed that the two could not go hand-in-hand, but my experiences in working with Project Nicaragua have disproven that credo.  I am proud to be involved with an initiative that challenges students in thinking “outside of the box,” that is committed to application of what is learned in the classroom, and ultimately, and that provides a mutual benefit, both for us as students and for the community members whom we directly work with.