MBA Study Abroad Opportunity

Theme: Global Business in the Midst of Economic, Political & Cultural Change

"I would never have guessed that the experiences I gained in January would have paid off so quickly in my professional life. I was asked by a fellow manufacturing leader to review their Supply Chain strategy for a developing market in Europe. (He did not know that I had just been to Central Europe) The technology is developing to the point of commercialization and will be launched in the next 12 months or so. The initial purpose of the meeting was to review the general process of identifying, trialing, and selecting manufacturing partners in Europe.... During the conversation, he asked about what I knew about Eastern European manufacturing costs relative to those in Western Europe. Well, that opened the door to our recent trip and everything I had learned. We discussed Physical and Information Infrastructure, Government and Legal issues, labor costs, transportation, duties .... nearly the entire range of topics we discussed on our trip. I was AMAZED that I was using this so soon after returning."

Comment by Greg Ayres, UD MBA student and participant in the January 2003 Central Europe program.

NEW (August 26, 2011): Applications are being accepted. 9 applications have been received so far. Enrollment is limited to about 12 to 14 students. Acceptance decisions will begin within a week or two. Applications will continue to be accepted until September 25, at which point any late applications probably will go into "waiting list" status.

Photos from the Central Europe MBA Study Abroad Program can be seen here and here.

This study abroad program consists of six credit-hours of graduate business courses during the winter term (January) 2012: BUAD 843 (Special Topics in Global Business) and either BUAD 840 (Ethical Issues in the Domestic and Global Business Environments) or BUAD 867 (Ethical, Social & Political Issues in International Business).

The central European program puts Lerner College graduate students in the midst of major global business challenges: the ongoing development of the European Union, the opportunities and difficulties facing transitional and emerging market economies due to the recent global financial crisis and ongoing recession, and the continuing transitions of the business world in the once centrally-planned economies of the region. The program brings students face to face with managers, scholars, government experts, and other key decision makers in central Europe, who are both leading and adapting to ongoing change in the business world.

In addition to attending several class meetings in Newark, students will spend two weeks in central Europe (visiting Vienna, Prague, Budapest), where they will visit companies, hear business, governmental, and academic guest speakers address topics related to the theme of the program, and enjoy exposure to local cultures and business practices through both group activities and weekend free time for exploring. The combination of countries we visit provides a very interesting mix on different approaches to business and to economic policy; both the Czech Republic and Hungary are former communist bloc states, but with very different histories and very different approaches to post-communist market development. Austria provides a well developed market economy comparison point, but one that differs in important ways from Anglo-American market practices and economic policies. Contemporary global economic problems make this a particularly interesting time to visit these countries, given the differential impact the financial crisis has had on countries, and the developing tensions on the common currency shared by many countries in Europe, and the economic and political decision making structures of the European Union.

The program includes teaching by faculty from the University of Delaware plus universities such as Central European University (Hungary), Corvinus University (Hungary), the University of Economics (Czech Republic), and other institutions.

See the frequently asked questions file for examples of company visits and guest lectures. Or view photographs from the programs here and here.

There will be preparatory reading assignments before the travel portion of the program. Teams of students will be expected to contribute to the program planning process by selecting and contacting some of the companies we visit (and also by preparing short briefing documents on the companies to be visited in order to prepare the rest of the class for the visit). There will be individual writing assignments to complete after the travel portion of the program.

Class meetings in Newark will be scheduled so that students who wish to extend their stay in Europe a few days before or after the two week class travel period may do so. Students should expect to attend several organizational meetings and class sessions in Newark during the fall semester and January.

Cosmopolitan Budapest is one of Europe's most historically prominent and culturally wonderful cities. While in Budapest we use the facilities of the Graduate School of Business of Central European University. CEU Business is a highly-regarded American-style English-language graduate business school, with an international faculty and a long relationship with the University of Delaware. In recent years Budapest has been among the most popular tourist destination in Europe, and a major center of operations and investment by major western European and North American corporations. Sitting astride the Danube River (see photo at top of page), it has been a key city in many important eras of world history. Budapest sits on the site of the ancient Roman empire city of Aquincum; one can still visit the Roman ruins. As the Ottoman (Turkish) Empire conquered much of Europe in the 1500s, Budapest became the Ottoman regional capital. Some of the many thermal spas in Budapest (sometimes considered the spa capital of Europe) were constructed by the Turks, and are still in use. Later Budapest became, with Vienna, one of the two key cities of the Habsburg dynasty (i.e., Austro-Hungarian Empire); the Royal Palace is one of the major tourist sights in the city. More information about Budapest is available from the Budapest tourist information site.

Just a three hour train ride west from Budapest, Vienna is one of the great capitals of Europe. Baroque palaces can be found throughout the city, a reminder of its imperial past. But Vienna's focus on the arts, culture, and learning has done as much to make it one of the world's most prominent cities -- think Mozart, Beethoven, et al.--and politically it is one of the four United Nations headquarters cities. Find out more about Vienna from the official tourism site. (In some years the program has been able to spend a day in Bratislava, the capital of Slovakia (an hour commuter train ride east from Vienna). It is a smaller city than the others, in a country that currently is undergoing more rapid economic and business transition than its neighbors. See more information at the Slovak national tourism website.)

Prague, capital of the Czech Republic and the former Czechoslovakia, is another one of Europe's top travel destinations (it's a UN World Cultural Heritage site). Prague's famous hilltop castle district, and its medieval old town, are one of the best surviving examples of an intact, old European city. (Prague was the only major central European city to escape heavy bombing during World War II.) Famous for its literary and cultural scene, contemporary Prague offers an eclectic mix of the medieval and the avant garde. See the official Czech tourism website for more on Prague.

Other travel opportunities: Portions of weekends, and some (but not all) evenings, offer free time in each city, but do keep in mind that this is program is for 6 academic credits, and so our weekdays are quite full with learning activities and classes (just as a business trip overseas would be full with non-tourist tasks). But if you want to travel in Europe before or after the program ends, it's easy to get from Vienna (our likely last stop) to (for example) Munich and Bavaria (in Germany), Salzburg and Innsbruck (in Austria), Switzerland, and northern Italy (Venice). Prague (our likely first stop) is not far from Berlin, Dresden, Leipzig, and western Poland. To see rail travel times and schedules among most European towns and cities, visit the website for Deutsche Bahn (the German national railway). Discount airlines also have made longer distances affordable within Europe.

Topics & Courses: Executives need to be adept at recognizing the complexities of global business, and at adapting their companies' strategies, marketing, finances, and management to different cultures, economic conditions, and political situations. This is especially true in central Europe today, as the region is undergoing multiple significant changes. On one side, the ongoing development and expansion of the European Union, in combination with tensions and pressures from the recent global economic problems, confront businesses with new opportunities for growth, as trade barriers dissolve, and new challenges, as the "rules of the game" change. On another side, the gradual incorporation of former centrally planned economies into the global economy offers new opportunities for investment by western companies, but new challenges insofar as the culture and politics of former centrally planned economies is often different from what western European and North American executives are familiar with. And it provides challenges for local decision makers in these countries, as even the larger economic system they joined in the 1990s now undergoes a series of radical pressures and changes due to the recent financial crisis, competition from Asian economies, and other economic, social and political changes and challenges.

BUAD 843 (Special Topics in Global Business) focuses on two key topics: (a) the growth and development of the European Union, and its implications for doing business in Europe, especially in the context of the recent financial/economic crisis, recession, demographic changes, and other challenges; and (b) the problems and issues that North American and European corporations encounter when they do business in transitional economies such as those of former Communist bloc countries. Both topics provide excellent case study approaches to understanding more general questions of how changes in the business environment affect the strategy, marketing, and management of global businesses. The course will involve company and institution visits in central Europe, class meetings in Europe featuring European faculty and guest lecturers, and class meetings in Newark before and/or after the travel portion of the program. Grading and written assignments are the responsibility of Prof. Gary Weaver from the University of Delaware.

BUAD 840 (Ethical Issues in Domestic and Global Business Environments) focuses on how managers effectively address the growing array of ethical, legal, and societal expectations placed on businesses. Doing this requires a good understanding of both organizational processes and the external political, legal and social environment of business. But these issues become even more complex in a global, cross-cultural setting. For example, what is considered a bribe in one culture may be seen as a culturally obligatory courtesy in another; relationships between the business and government worlds may be antagonistic and disconnected in one political system, and deeply integrated in another. In addition, expectations for good business behavior vary; the European business environment, for example, places a much stronger emphasis on sustainable business practice than does the American business environment, and many observers make clear distinctions between Anglo-American and continental European views of business and its responsibilities. As in the case of BUAD 843, this course will involve company and/or institution visits in central Europe, meetings with European faculty and/or guest lecturers, and class meetings in Newark before or after the travel portion of the program. Prof. Weaver will also be responsible for grading and written assignments for BUAD 840.

The version of BUAD 840 being offered in this program is cross-listed with BUAD 867 (Ethical, Social, and Political Issues in International Business). This is so students who already have had BUAD 840 on campus (which primarily has a domestic focus) can also take and receive credit for this program (which will give them a more extensive international perspective on ethical, political and social issues in business). Students will register for either BUAD 840 or BUAD 867, but not both. If you have not already had BUAD 840, and enroll for this study abroad program, you should enroll under BUAD 840, not BUAD 867.

Relation to MBA curriculum: There are no prerequisites for either BUAD 840/867 or BUAD 843. BUAD 840 is a required course for all MBA students; BUAD 843 satisfies the "international focus" elective requirement, and can be used as one of the courses toward an international business concentration.

Schedule (tentative -- there is a small chance the program might run one week earlier than indicated, depending on local arrangements, guest speaker schedules, etc.; this will be known by July or August, 2011):

Fall semester 2011: There likely will be several evening meetings during fall semester. These are to provide students with information on the trip, provide an introduction to some of the issues to be considered, and distribute any pre-travel assignments. Any fall semester meetings likely will be scheduled for Friday evenings, so as to not conflict with weeknight MBA classes.

January 3-February 4 2012 (winter session): One or more preparatory class meetings (depending on how many meetings are held during fall semester) and/or post-travel meetings in Newark. Exact dates to be announced in November 2011.

Actual travel normally follows a schedule like this; however, exact dates are not yet established, and there is a chance the order of cities visited could be changed.

January 13: Most students will depart the U.S. during the afternoon or evening this day (Friday), for Saturday arrival in Prague. You may leave earlier, to do your own travel in Europe, as long as you get to Prague sometime on Saturday January 15, and are able to attend pre-departure meetings in Newark or make alternate arrangements with the faculty director.

January 14 - 18: time in Prague; required city tour on January 16 (starting 1:00PM)

Students will need to pay tuition for 6 credits (two courses), either in-state or out-of-state rates, depending on your status.

The 2011 program fee was $2950. Costs fluctuate with the value of the dollar, plus changes in local costs. We will have a more definite estimate of costs for the 2012 program in late summer 2010, but unless there are radical changes to exchange rates between now and then, it would be safe to assume that the program fee will be in the range of $2700 to $3300. NEW INFORMATION AUGUST 31 2011: The program fee has been set at $3000.

IMPORTANT NOTE: The program fee does not include airfare. For this program, students will be expected to purchase their own air tickets to and from Europe. This will allow maximum flexibility for setting your own travel schedule in regard to any extra pre- or post-program travel (or for using frequent flier miles, or for combining the program travel with work-related travel). For the 2011 program airfares were in the range of $650 to $850, depending on airline, and exact travel dates, and when students bought their tickets.

In addition to the program fee, you should allow at least $30 to $40 per day for additional expenses. This should be enough to cover basic meals that are not included in the program fee, plus some bus or transit fares you might need. This additional amount, of course, might be higher or lower, depending on your interest in more expensive activities (e.g., entertainment, nice restaurants, extra travel, etc.) or, alternatively, simple, cheap food.

Reading materials for the classes are available online at no charge for University of Delaware students (via the university library's online databases).

Application process: Visit the University's Institute for Global Studies for the online application process and forms, and to get additional information on the program. Space is limited to 12 students. We might start making acceptance decisions on a rolling basis during summer 2011, provided there is a sufficient pool of applicants. Thus it is to your advantage to apply early. Applications will be accepted after September 1 until the program is filled or an early October, 2011 deadline (to be announced), whichever comes first. Please note that the online application forms are standard forms used by both undergraduate and graduate programs. Some of the questions (e.g., parental/guardian permission, staying with a host family) might not be directly relevant to this graduate-level study abroad program. Answer them as best you can. Also, please be sure you apply for the program called "MBA Europe" , and not an undergraduate Europe program; the graduate level central Europe program is titled "MBA Europe".