Fudan International MBA Program

复旦大学国际MBA项目

 

Learning by Doing | MIT队友复旦初体验

Fudan-MIT China Lab Consulting Projects was initiated by MIT Sloan School of Management in 2008, the Fudan-MIT China Lab teams composed of 2 MIT Sloan MBA students and 2 Fudan IMBA students work on what is essentially a 3-month, mini-consulting project. With entrepreneurship and innovation as its themes, China Lab offers professional advice for companies on subjects including but not limited to: Initial Setup and development, Internationalization, Marketing Development, Capital-raising Strategies, Organizational Structure Plans, Commercialization Strategies, and Landscape Competing Strategies.
In 2017, we have 3 teams working on the Fudan-MIT China Lab Consulting Projects. This March, all the MIT team mates flied from US to join the midterm presentation for the three projects. Today we invited all the MIT team mates to share their first experience in Fudan, and let us check what impressed them most!

Q

How you feel about the local environment for business? Any difference between what you thought before and what you are involved in the real business here?

Emily: It seems like a dynamic and exciting place to be doing business, with many qualities that feel unique to the Chinese context. It's clear that there are tons of companies doing exciting things. The ubiquity of WeChat as a means of communication, including in business contexts, was surprising to me. I was also surprised by the importance of developing relationships. I learned a lot about some of the advantages and restrictions placed on state own enterprises.

Maya: I was very impressed by the environment for local business. I was surprised by two things. The first being the pace of change – it seems as though Chinese business are changing/ adapting to new technologies or trends very quickly (e.g. WeChat payment). I was also surprised by how important relationships were to doing business in China.

Rishika: We are impressed by the scale of the luxury market here as witnessed by huge stores. We didn't realize the market was this big here, it appeared bigger than anywhere in the U.S.. This is really great for our client that sells expensive, premium quality pajamas. 

Q

How about the Fudan-MIT team performance this time? What you learned from your team member this time ?

Hubert: Fudan team was proactive and did phenomenal job aligning client and setting expectations. Work was within scope and skill sets complimented one another with high reliability in communication. There were no language barriers and team had strong presentation skills. The project has flowed smoothly.

Emily: I really enjoyed working with our team. Andy and Jane from Fudan were both incredibly diligent about their analysis of the Chinese wind market while also being very present in helping Maya and I navigate etiquette and tone. I thought we did a great job of creating hypotheses and then iterating on those based on the data we got from our interviews during the two weeks.

Lior:Great experience, I learnt a lot from the Fudan team mates in terms of working style and content - for example - the in depth benchmarks.

Maya: I think that our team performed very well. I think that we shared the workload based on all of our key strengths and skills, and we all contributed to the final product at the end of the 2 week visit. I also think we worked well together – we all were willing to listen and provide feedback to each other. I learned a lot from my Fudan team mates – specifically I learned a lot about how business is conducted in China – they provided me with invaluable guidance.

Q

Any expectation for the final presentation of Fudan-MIT China Lab in May?

Rishika: For final presentation, we will deliver high-level strategic recommendations for our client to understand how to improve its marketing. Stage was well set in midterm presentation and last phase of our project will have more narrow focus on communication strategies.

Emily: I hope that we are able to appropriately scope our final presentation based on the various stakeholders' expectations. We are looking forward to it!

Matt: I expect that the team will be able to put together some valuable and tailored insights and recommendations for Bosch in the final presentation.

Maya: Based on our midterm presentation, I think we need to clarify exactly what is the objective for our final presentation and nail it down.

Q

How about the food here? Any Chinese food you would definitely try one more time before you back home?

Matt: I absolutely loved trying the different Chinese regional cuisines.  I think my very favorite was Sichuan.  Kung pao chicken in China is probably 100 times better than how good I already thought it was in the USA!

Maya: I loved the food in China. Andy and Jane were fantastic hosts, and took us to many delicious Chinese restaurants. I particularly liked the BBQ and hot pot restaurants.

Lior: Delicious food. I love the tea!