Professor Jim Marsh, Director of Cross-Border Activities at EPICentre, led a group of International Business students on trip to Italy. Bora Lee, our EPICentre ambassador, sat down with the class to go over their experiences gained during the trip.
- How was the trip to Italy? What did you do and what did you learn?
- Amazing – during the trip to Italy, we were able to speak to local companies and gain insight on how to conduct business in Italy.
- The trip to Italy was fantastic. Although it was not my first trip to Italy, I got a completely different experience going with a business class for a purpose. We got to do many activities relating to my field of study – Engineering. Touring Maserati and visiting a company called Pietro Carnaghi gave us a feel for the industry and for doing business in Italy and with other countries. More information on the companies visited can be found here: http://www.maserati.com/maserati/en/en/index.html and http://www.pietrocarnaghi.com/en/index.html.
- The trip was fantastic and eye opening. We are able to experience the local culture and see a whole new side of Italy. We got to go beyond the touristic path and see what life in Italy is like. I learned how life in Italy truly looks.
- What would you recommend to a Start-up Company that would like to go international?
- Starting a business on an international level in a European country could have many benefits. For example Italy is very central and has access to many countries in Europe.
- Study the culture and consider the differences in how businesses operate (taxes, regulation etc).
- Keep in mind the different business climate in Italy, the business process is shorter and they have a high demand. Similar markets don’t focus on competition too much.
- Understand the local people and your market, be aware of who the decision makers are, do your research and be culturally inclusive (as an expatriate)
- What is the most difficult part of doing business overseas/internationally?
- Start-up capital, achieving family balance when overseas, understanding the culture
- Changing laws and regulations
- Needing a different approach to adapt to diverse needs and culture. Marketing and sales strategic changes in each country
- Unemployment, accommodating employees, culture, customs and taxes
- Language barrier, cultural differences when conducting business, taxes and tariffs and competing with local businesses
- Would you recommend this course to other students?
- Yes, certainly. It was so insightful and such a great group and professor. Definitely a unique experience!!!
- Yes, I would recommend this class for upper year business students
- Yes, I really enjoyed this class and would recommend it to anyone. Even not being in business, this class was great!
- Yes, this course allows students to learn the concepts of international business and actually experience it. Great time and an amazing learning experience.
