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.
There is far more to an MBA experience than what you absorb in a classroom and it is learning from the experiences and skills of your peers where the MBA is most valuable. The consulting project in Iceland typified this. For our team Taramar, we worked closely with a small organic novel skincare company in Iceland looking to expand into new regions.
From start to finish the project lasted just three weeks which concluded with four days working on site with the client. Timelines were extremely tight and we knew we would have to hit the ground running if this project was to be a success. We spent two weeks prior to our trip researching market conditions, compiling data, liaising with the client on project scope and defining success criteria. Just like in the real world, no consulting project runs exactly smoothly and Team Taramar had to work through a number of trials and tribulations throughout our project. We quickly realised that defining scope and understanding exactly what a client desires is crucially important. We faced each challenge head on and a highlight for all of us was presenting our work at the end of the week to a delighted client.
As a team, we used the skills and knowledge we had acquired over the year to carry out a feasibility study. When we look back now, it is amazing the body of work that was accomplished in just four short days. But that is another characteristic of the MBA; each team gets more and more efficient as the year progresses. We assessed the market conditions, carried out a pricing study, drafted a marketing strategy, proposed a logistics solution to distribute in the new territory and used aspects of each MBA module we had completed.
Although putting all the arduous hours of study into practice at the end of the year was rewarding, looking back it is what we learned from each other that was a real highlight. Our team was comprised of a variety of backgrounds and experiences from e-commerce, sales and commercial strategy, accounting, pharmacy and chemistry. The combined experience of the group was invaluable when developing a solution for our client. For each member in our team it was a first foray into the consulting world, and it’s safe to say we loved it!
The trip to Iceland was definitely one of the highlights of the year for all who attended. There was a sense of camaraderie from start to finish which helped to enhance the overall experience for all involved.
The opportunity to engage with faculty and members of the Full Time and both classes of the Executive MBA was thoroughly rewarding. We have all made new connections which will no doubt be invaluable in our future careers.
Suffice to say our Icelandic experience will live long in our memories!
John Cassidy, EMBA 2016-2018