The increasing internationalisation of business means the leaders of today and tomorrow will need a deep understanding of how different markets operate and the drivers of success in those markets.
While learning about international markets, QUT’s acclaimed researchers and industry leaders provide valuable insights. The experience and added value gained from global opportunities are unparalleled.
The QUT Business School offers a range of international experiences for Master of Business Administration (MBA) students that see them travel to all corners of the globe for immersive learning.
Travel marketing expert Lizzie Weigh and property and finance executive Frank Yong recently completed global experiences as part of their MBA and spoke to MBA News about them.
Lizzie has spent most of the last decade working across a variety of roles promoting Queensland to the world as part of the team at Tourism and Events Queensland (TEQ).
As the Global Media Strategy & Partnerships Lead for TEQ, her role is very much focused on the international travel market, so she was keen to ensure her MBA included an international exchange.
“The opportunity to go overseas and study and learn more about the international business environment was a huge part of why I chose QUT to do my MBA,” she said.
“TEQ is a global business, and the more we understand our markets, the more we can drive our mission.”
QUT MBA students can access two overseas learning experiences – the MIT Immersion Program or the MBA European Summer Program at WHU Otto Beisheim School of Management. Both programs provide students with a two-week intensive learning experience.
Lizzie chose the WHU European Summer program for the opportunity to learn more about business in Europe.
“It was exciting, intensive, fun and daunting all at the same time,” she said. “It was all about taking a quick but deep dive into how business is done in Europe and understanding how it differs from our experience here.”
“The program covered six different topics, ranging from the unique role of the single currency through to the implications of Brexit and the important role of family businesses in Germany.
“The whole program gave some incredible insights into understanding how historical events had contributed to the economic and political landscape now.”
With students from Australia, Singapore, China and the United States, the program was also an excellent opportunity for Lizzie to expand her network.
“There was a huge diversity of students attending the program, which added to the experience while we were there,” she said.
As a certified practising accountant with a background in commerce and law, Frank’s journey to a QUT MBA began more than ten years ago when he joined the Citadin Group, a family-owned property business where he now serves as the Chief Financial Officer.
Over recent years Frank has found himself getting more involved in board discussions about strategy and operations and wanted to ensure he had the right skills to add value.
“As my role has changed, I felt I needed some extra knowledge, and the MBA seemed to be the perfect avenue for that,” he said.
As part of his MBA, Frank participated in both the MIT Immersion program and the WHU European Summer Program.
The Australian-first MIT Immersion program sees students head to the MIT Sloan School of Management for two weeks, during which they are immersed in the MIT ecosystem with a focus on leadership, entrepreneurship, and digital transformation.
“Having the MIT Immersion as an option in my MBA was a huge bonus, and it is an experience I’ll remember for a long time.
“It was a full-on experience with coursework, lectures, and group work all focussed on entrepreneurship, particularly digital entrepreneurship,” he said.
“The US start-up ecosystem and venture capital landscape is much more advanced than in Australia, so being immersed in that created some exciting learnings I could bring home and implement here.
“The highlight was definitely the knowledge of the lecturers, many of whom have achieved real-world success and have moved into teaching to share their experiences and impart a bit of their wisdom.”
In addition to the MIT Immersion, the WHU European Program provided Frank with a stronger global perspective on business.
“It was interesting to see how the cultures of Germany and wider Europe lean more towards banking and finance-led structures instead of the venture capital model used in the US,” he said.
“This has big implications on the types of businesses which get funding.”
Frank said he found the family business component of the program particularly interesting and brought many of the learnings back to his job in Australia.
“Understanding how German family businesses work directly has had a direct impact on my decision-making in my current organisation,” he said.
“It helped me understand how to interact with family member-owners and speak with them about their priorities, which doesn’t always mean financial growth.”
Applications for QUT’s MBA are open until August. Find out more about their MBA here.
