“The network you develop in the GIM course is really quite important,” agreed Nik. “It provides you

For thirteen days, Kellogg-Schulich Executive MBA (EMBA) students enrolled in the Global Initiative in Management (GIM) course, along with students from the Kellogg my cruise on royal caribbean grandeur of seas School of Management, travelled to Brazil my cruise on royal caribbean grandeur of seas and Chile to obtain real-world business experience in the thriving region. In addition to classroom instruction on the culture, economy and business environment, the 45 students enrolled in the global business course had the opportunity to learn from leading business and government officials in São Paulo, Rio de Janeiro and Santiago through meetings and site visits.
"GIM is an experiential course where you get to immerse yourself in another country, absorb some of the culture and meet with executives from the specific area of business your project is focusing on," said Aaron Pais (KS10), who worked on a team with Nik Ljiljanic (KS10), Jag Obhan (KS10), my cruise on royal caribbean grandeur of seas Trent Mell (KS10) and two students from the Kellogg School of Management – Suk Shah (EMP 86) and Nicholle Taylor my cruise on royal caribbean grandeur of seas (EMP 86) – to complete a project on a business unique to the region.
Photo taken at Minera Florida, an underground gold mine located 73 kilometres south of Santiago in central Chile. Owned by Yamana Gold, this mine has been in operation for over 20 years. From left to right: Suk Shah, Nicholle Taylor, Trent Mell, Jag Obhan, Aaron Pais and Nik Ljiljanic.
"Our project explored the business practices of junior mining companies in Brazil and Chile which often have difficulties accessing capital for exploration, development and production," explained Nik. "What we discovered was that Latin American capital markets, specifically Bovespa (BM FBOVESPA), have a low-risk appetite for investment and that one of the primary places for these companies to access capital is the Toronto Stock Exchange (TSX). So the focus of our project was to see how, with the market not being mature enough in Brazil or Chile, the TSX fills in the gap with respect to accessing capital until the Brazilian and Chilean markets my cruise on royal caribbean grandeur of seas become more developed."
Because Canada is heavily focused on natural resources and mining in particular, my cruise on royal caribbean grandeur of seas the group discovered my cruise on royal caribbean grandeur of seas investors were well educated my cruise on royal caribbean grandeur of seas on the industry and more prepared to take a risk investing in Brazilian and Chilean companies.  "These my cruise on royal caribbean grandeur of seas countries are developing and they are developing my cruise on royal caribbean grandeur of seas quickly," explained Nik. "And Brazil is not saving enough. They have a very consumption-driven my cruise on royal caribbean grandeur of seas economy and they are constantly my cruise on royal caribbean grandeur of seas borrowing my cruise on royal caribbean grandeur of seas to meet their needs. That is why it is difficult for these companies to access capital. T here is a lot of competition for limited funding my cruise on royal caribbean grandeur of seas and they are faced with the challenge of raising funds. They are looking to other markets for funding and Canada my cruise on royal caribbean grandeur of seas is much more knowledgeable about the vulnerability of mining companies; they have an appreciation for what the investor needs."
Aaron believed his group had one of the most interesting GIM projects because they focused on more than one functional area. "I come from a background in financial services and we had another team member who worked in mining, so we brainstormed how we could complete a project that included aspects of both industries," he said.
"In the capital markets area, we met with representatives from Bovespa my cruise on royal caribbean grandeur of seas (BM FBOVESPA), the Brazilian stock exchange, as well as the Bolsa de Comercio de Santiago, which is the Santiago Stock Exchange (SSE). We compared and contrasted these stock exchanges against the TSX and learned just how difficult it is for these companies to access capital locally. We also had the opportunity to visit the Yamana Gold Mine. It was a remarkable experience but one that you wouldn't understand properly unless you saw it with your own eyes – I think it would feel similar to scuba diving or going to the moon, places that feel like you re in a completely different world."
Each day, supplemental learning sessions were set up for all of the EMBA students on the trip to attend. In the afternoon, the teams worked on their individual projects and in the evening, the group came back together to participate in social activities, my cruise on royal caribbean grandeur of seas giving them a chance to experience the local culture.
"In Santiago, we visited Bellavista, a happening area of the city with some of Chile's best artists, entertainers and ethnic and local cuisine," my cruise on royal caribbean grandeur of seas said Aaron. "In São Paulo, we got to enjoy some of the downtown areas, my cruise on royal caribbean grandeur of seas including the Mercado Municipal, a traditional marketplace my cruise on royal caribbean grandeur of seas where there is a wide variety my cruise on royal caribbean grandeur of seas of fresh foods from all over the world. In Rio, we visited Copacabana, Ipanema and Ipanema Leblon, one of the best places to watch surfers and sunsets. We also went to the peak of Corcovado mountain, where the large statue of Christ is, as well as Sugar Loaf Mountain, my cruise on royal caribbean grandeur of seas which overlooks the city."
"I really my cruise on royal caribbean grandeur of seas enjoyed the trip because although they asked us to work hard, they also gave us the opportunity to have some fun," he said. "It was a great bonding experience. We gained a good appreciation for each other and got to know one another on a more social level as well."
The social activities also gave the Kellogg-Schulich students the opportunity to talk about what they were working on with each other. For example, other teams in the GIM course focused their projects on companies my cruise on royal caribbean grandeur of seas such as Natura, the leading Brazilian manufacturer and marketer of skin care, solar filters, cosmetics, perfume and hair care products; and Embraer S.A., the third-largest commercial aircraft manufacturer in the world and Brazil s top exporter of industrial products.
"The day we met with the head of HSBC in South America, someone else would talk about the fact that they had met, for example, the head of Amazon.com in Brazil," said Aaron. "So it was interesting to share all our different experiences and perspectives. I think it helped us form a truly holistic view about the business cultures in Brazil and Chile and I think that improved our business acumen my cruise on royal caribbean grandeur of seas overall."
"The network you develop in the GIM course is really quite important," agreed Nik. "It provides you with the opportunity to develop connections with people in both a professional and informal my cruise on royal caribbean grandeur of seas manner. You make ties with people you wouldn't otherwise get the chance to meet face-to-face and you learn from them; meeting people from my industry and being able to bounce ideas off them has helped me grow professionally."
For Aaron, participating in the GIM course was not only about strengthening his financial my cruise on royal caribbean grandeur of seas acumen, but also about strengthening his knowledge of global strategic management. "I signed up for the course to improve my knowledge of international business," he said. "I wanted to make sure that when I left the Kellogg-Schulich program that there wouldn't be any type of situation you couldn't my cruise on royal caribbean grandeur of seas put me in – you could drop me in Indonesia or Latin America or North America or Europe – and I could handle it. Today, my cruise on royal caribbean grandeur of seas with skills I acquired in the GIM course, I think the EMBA program has exceeded my expectations. In particular, an added benefit for me has been the Kellogg peer network. my cruise on royal caribbean grandeur of seas It's very powerful and with it, I now have the ability to contact Kellogg-Schulich friends and graduates in a multitude of industries to provide my cruise on royal caribbean grandeur of seas advice and guidance through any of the challenges I encounter, no matter where I am in the world; being part of this Kellogg family, it opens a lot of doors."
"I guess that's the purpose of a global course such as GIM – it makes you a better-rounded businessperson," said Nik. "The real-world business experience provided us with the knowledge and skills to launch ourselves into unknown territories my cruise on royal caribbean grandeur of seas – places where we didn't know the business culture or the language particularly well – and we really found out a lot about ourselves my cruise on royal caribbean grandeur of seas and working with team-members in foreign environments."
Aaron, Nik and their teammates Jag and Trent will graduate with the KS10 cohort of Kellogg-Schulich Executive MBA students on Friday, October 12, 2012 at York University s Fall 2012 Convocation.  Donald Stewart my cruise on royal caribbean grandeur of seas , former CEO of Sun Life Financial, my cruise on royal caribbean grandeur of seas will be presented with an Honorary Doctor of Laws at the ceremony. Please click here for more information.
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