Dr Michael Smurfit arrived into the Laurence Crowley boardroom in Smurfit College on Tuesday Sept 30th where the noise filled room of curious MBA and business students immediately fell into a quiet hush. He took his seat next to the Dean and then opened with a self deprecating ice breaker apologising for the inadequacy of his book. Result? Everyone immediately relaxed and warmed to their college namesake. Dr Smurfit proceeded to give a fascinating account of how he developed his empire and set up the Business School and shared some lessons learned along the way. Our very own Lindsey Nguyen (Full time MBA) did a great job as MC and posed some carefully crafted but pointed questions to Dr Smurfit which he duly answered.
What became quickly evident was a lot of his success was down to doing the obvious, like cutting costs, managing stocks and being a forward thinker in a time when everyone was looking inward instead of outward. What is also interesting is how Smurfit took a small Irish company to the top of the world in the area of wood and wood products, beating off rivals from countries with significant wood and native paper industries.
As per his autobiography A Life Worth Living, Dr Smurfit was the first Irish mega tycoon, who built a small family business into Ireland’s first multinational company and one of the world’s largest paper and packaging companies. A particularly spectacular feat coming from a country with no indigenous wood industry to speak of. Dr Smurfit’s motto was “I must, I can and I will” and he did.
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