The Class of 2015 is charting another course for the Telfer Executive MBA’s International Business Consulting Project and Trip on April 24, 2015. Telfer Executive MBA candidates will begin their in-country component of the International Business Consulting Project in Lima, Republic of Peru. This is the last of the Signature Series of Six Business Consulting Projects of the program for the cohort.
Over the course of the next eight months the Telfer Executive MBA teams will be engaging with seven Canadian organizations that are looking to increase their business footprint within the Peruvian market. This global component of the Telfer Executive MBA curriculum focuses on leveraging both primary and secondary sources to conduct a market and business analysis and to validate the market potential prior to the teams traveling to the Peru. The project culminates with a one week trip to the market where respective teams leverage other data gathering methodologies including in-country meetings and direct discussions with key stakeholders to further validate the market potential.
This is a critical component of a comprehensive curriculum that has seen the Telfer Executive MBA Program provide compelling value by representing the interests of more than 150 Canadian organizations in over twenty international destinations since the inception of the Program in 1992.
Located on the western seaboard of Peru, Lima is the largest city within the republic with a population of approximately 8 million people — it is home to more than a quarter of the Peruvian population.
Peru is one of the world's fastest-growing economies posting a 2013 GDP growth rate of 5.9%. The growing economy provides multiple points of entry for Canadian organizations as opportunities within Peru strongly align within the priority sectors for Canada. These Canadian priority sectors include mining, agriculture and agri-foods, infrastructure projects and information communication technologies (ICT).
Furthering the attractiveness of the Peruvian market to Canadian organizations is the Canada-Peru Free Trade Agreement which came into force in 2009. This free trade agreement eliminates tariffs on 95% of exports to Peru along with a tax treaty between the countries reduces the barriers for Canadian organizations.
Since 2009 Peru has become Canada’s second largest bilateral merchandise trading partner within Latin America and the Caribbean. In 2013 Canadian exports to Peru were estimated at over $600 million with imports into Canada from Peru numbering at over $3 billion. The research completed by a Telfer Executive MBA team as a part of the International Market Evaluation and Selection course shows that there are currently 119 organizations within the Ottawa area who are actively trading within Peru.
The 2019 Pan American Games have created further opportunities to the capital of Lima. In October 2013 Lima was selected over Santiago, La Punta and Ciudad Bolivar to host the 2019 Pan American Games. The Games will welcome over 6,000 athletes to Lima for competition in over 40 sports.
With the Peruvian and Lima governments in full support of the games, a budget was set at US$712 million to be allocated primarily to infrastructure and facilities within the city; it will provide global opportunities for organizations to enter this growing economy.
"Our city is growing very fast, and the Pan American Games will fit perfectly in our plans to create a greater and more connected city in the future.” said Lima's Mayor, Susana Villarán.
With the plans for infrastructure projects to be completed by 2017, the selection of Lima for the Pan Am games strongly aligns with the mandate of Telfer Executive MBA’s International Business Consulting Project. Seven teams of experienced Telfer Executive MBA candidates will focus on connecting seven Canadian organizations with these opportunities in the Peruvian market.
The Telfer Executive MBA Methodology
A glimpse into the Telfer Executive MBA process offers a better understanding of the amount of research that is needed before one is able to make a strategic decision to focus on a specific global region.
The Program’s process mirrors the strategic approach which an organization would take before making a decision on pursuing a specific international market. This process reinforces the immense value of the Telfer Executive MBA program, which is Global, Practical and Relevant in its curriculum design and delivery methodologies.
The Class of 2015 took a granular look into both macro and micro elements of 14 different markets as part of the research project in the International Market Evaluation and Strategy course. Class of 2015 compared and contrasted 14 different markets with an objective of identifying seven growing markets that would better aligned with future growth of Canadian industries/organizations.
The next step would see each candidate’s individual examination of the seven markets with a line of sight to narrowing the class to one single market.
The Class of 2015 will begin the second phase of the global consulting experience this fall. The International Business Consulting Projects will enable seven Telfer Executive MBA teams to strategically assess the fit between a local organization, its strategy and the destination selected. By directly engaging with organizations that have an interest in the Peruvian market, the Telfer Executive MBA Program will provide a unique opportunity for seven organizations to benefit from the services of a professional, highly-skilled team of Executive MBA candidates to explore business opportunities in Lima, Republic of Peru.