A Crash Course in the Icelandic Fishing Industry

In early summer 2017, the Full Time MBA class and first year EMBA class travelled to Reykjavik, Iceland for Smurfit’s first MBA International Consulting Project.

As part of the MBA capstone, the FTMBAs, joined by some of the Year 1 EMBAs, went to Iceland to complete a week-long consulting project with Icelandic companies. Our team worked with Skaginn 3x, a food processing equipment producer that focuses on the fishing industry. As an island country with a population of approximately 300,000, the fishing industry plays an important role in the Icelandic economy. The week in Iceland was for our team a crash course in the fishing industry, as we had limited collective exposure to it beforehand.

Our consulting project for Skaginn 3x focused on their Sub-ChillingTM product, a technology that creates significant innovation in the fish processing industry. This product brings sustainability and environmental benefits to fish processors, and we were asked to develop a recommendation for how Skaginn 3x could leverage those benefits to help customers gain access to government funds or grants that would make the technology more affordable for them.

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In order to complete this project, we applied frameworks that we learned in competitive strategy, we conducted interviews with industry experts in Iceland and in Ireland, and we did an extensive amount of research during the three days we had to prepare our presentation. On the final day, we presented our findings, along with an action plan for how Skaginn 3x could further develop our research.

As an added bonus – our company was based in the beautiful Ocean Cluster House – a marine innovation centre located by the harbour in Reykjavik. This building was filled with a number of companies that worked in the marine or fishing industries, and offered beautiful views.

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After making our presentation on our last day in Iceland, our team rented a car and headed out to see the Golden Circle. We got to see a geyser, a waterfall and eat some delicious ice cream, while running into other MBA teams at every stop! As we took in the beautiful views, we were able to share our experiences and talk about our projects with our classmates, bringing the Iceland trip to a wonderful close!

Laura Shumaker, FTMBA

The End of Exam Life?

Traolach Meme

As we move through the last set of our exams for Semester 2, I sit back and wonder. These will complete the exams we have to take for our MBA, so … is this the end of my exam life forever?

Having left college in 2003 I always figured that I would end up doing further education at some point. So I never thought of those as my last exams. However, having gotten up from my child-like seat in the cavernous exam hall on Saturday, after squeezing all my knowledge on financing new ventures in to a booklet for the previous 2 hours, I think I might have actually sat the last exam of my life.

Now this isn’t a lament on the differences between rote learning and whatever the other type is. I have been pretty successful in the Irish exam system which I feel sets a high benchmark for success and gave me great technical knowledge that I leveraged in my professional career internationally. This is more the realisation that after an MBA I don’t think there is much more additional education one can pursue to advance your career. True, there are other exams such as the CFA or Series 7 if you want to be an analyst (and there are probably more that I haven’t even thought of). But they are all career specific and not of the lecture/exam format that we love so much.

This is just one more thing to realise whilst doing an MBA; that it is the culmination of a lifelong learning journey. The first exam I can remember sitting was over 30 years ago, as a 6 year old, and I sat exams every year for the next 20 years. I liked exams so much I decided to take the scenic route through my undergrad and stay for an additional year so that I could enjoy the exam experience a few more times!

When I look at the paragraph above I only now realise the sheer volume of exams I must have sat so far in my life. So it is probably high time I do say goodbye to exam life. The path that we take through life and on the road to an MBA takes many forms, but we all have endured the unenjoyable (or enjoyable, if you’re masochistic) experience of exams. This is a global common bond for all students and I guess, like everything, it has to come to an end at some point.

So it is there in an exam hall in the RDS Simmonscourt, on Saturday 13th May 2017, that I close a large chapter in my personal journey – and that of EXAM LIFE.

Traolach O’Connor, Full Time MBA 2016-2017

Finding Value in Diversity

As we enter the summer term of the full time MBA programme, I have come to realise how much diversity I, and my classmates, have been exposed to over the past nine months.  Before I decided to undertake an MBA, I had heard some MBA graduates mention this point about “diversity” but I had underestimated the learning experience that diversity can offer.

In an MBA, diversity takes on many forms.  Firstly there’s the diversity found within the cohort itself.  This is a combination of cultural diversity (in our full time cohort of 32 students there are 10 nationalities), there’s age diversity and indeed diversity in our educational backgrounds and experiences!  The result is a multitude of perspectives that contribute to some very thought-provoking classroom discussions.  Coming from an engineering background myself, I have really enjoyed learning about other people’s previous work experiences and pre-MBA careers in various fields such as marketing, e-commerce, finance, IT and the entertainment industry. It has also helped me to realise how valuable diversity can be when it comes to problem-solving.

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Secondly, the vast range of modules also presents another element of diversity.  From accounting, financial analysis, economics and strategy to negotiation skills, ethics and executive decision-making!  The volume of information is over-whelming but the skills obtained will not only be relevant to our future careers, but will be also be helpful in others areas of life, whether one realises this at the time or not!

Thirdly, the prospects we’ve had to immerse ourselves in, outside of the classroom, pose yet another realm of diversity.  An international learning module to Japan and South Korea in March provided a unique opportunity to learn about new cultures, about doing business in Asia but also to get to know our part-time MBA classmates.  I was also lucky enough to travel to Yale for the Integrated Leadership Case Competition in April, with three other classmates.  This trip enabled us to meet other MBA students from 12 different business schools around the globe.  Over the course of three days in Yale, it was refreshing to see how all students were genuinely interested in one another and embraced the diversity around them by exchanging anecdotes about their MBA experiences and offering each other helpful advice regarding post-MBA decisions.

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To complete the international experience, we still have a week in Iceland to look forward to, where we will be working as consultants for a number of different companies.

For me, it took time to realize the value that all this diversity could bring, and I believe that I will continue to see its benefits over the coming years, in both my career and personal life.  I am certainly more open now to looking at things with a different lens, than I was nine months ago.  With this in mind, my advice for anyone considering undertaking an MBA is to truly consider its significance, not only from a career standpoint but from a non-career perspective too.

Aisling O’Halloran, Full Time MBA 2016-2017

Celebrating Lunar New Year in Dublin

Vietnamese Student Body

On February 2nd 2017, our Vietnamese study body organised a warm celebration of Lunar New Year with international students, Irish families with adopted Vietnamese children and members of the Vietnamese community in Dublin.

Lunar New Year is a very meaningful occasion for many Asian countries such as China, Korea and Vietnam, etc. In Vietnam, Lunar New Year is called Tet, which means the ‘feast of the first morning of the first day’. Tet is an important occasion for family reunions, when we cherish the success of past year, let the troubles go and look forward to happiness, success and good fortune in the upcoming year.

Quiz contest about Vietnam’s facts
Quiz contest about Vietnam’s facts

As an organising member, I was glad to see many international students interested in the event. We welcomed over 300 guests despite the heavy rain over the whole day. All the efforts spent over the last 3 months seemed to be rewarding when we engaged with participants through traditional games, when international students enjoyed and took pictures in our traditional dresses or when they attentively watched the performances. Looking back, I was reluctant to take the role as Event Director due to a heavy schedule in the first semester and unfamiliar study environment. But now I felt all the experience I had was such a great one. There were moments of tension the ‘ brain-storming’ stage, yet we had gone a long way to learn how to be flexible in our plan, to be appreciative of each other’s ideas, to give more than to take and to put ourselves forward.

Myself in ‘ao dai’ - traditional dress
Myself in ‘ao dai’ – traditional dress

When I first landed in Dublin 4 months ago, I was impressed by a small little thing – signage. All are written in English and Gaelic. Although nowadays, Gaelic is becoming less popular among young people, the presence of Gaelic in almost all public areas is such a great reservation of culture and traditions. Recent years in my home country have seen debate over whether Lunar New Year should be combined with New Year holiday in the Gregorian calendar. Advocates would point to economic loss and overspending during such a long holiday. For me, I still hope that every year we will still celebrate Lunar New Year and that our people will never lose tradition because of a so-called cost-benefit analysis. Simply, globalization and revolution are not to be carried out at the expense of intrinsic values. 

Should auld acquaintance be forgot, and never brought to mind?

 Khanh Nguyen ~ Full-Time MBA