study break

So the students enrolled in the pre-program were divided up into various groups. Several groups, including mine, had their pre-program courses last week (Oct. 18-22). Others only started this week (Oct.25-28). I’m really glad that mine were last week because that means this week I have had another “break” before starting the MBA! Although I have hardly taken a break…

Monday morning I was up early to join other 50 or so non-EU students at the police station to take our fingerprints for the NIE immigration card. Having the NIE number (although we still have to wait another month to get the actual card) means I could start shopping for my iPhone! I really want an iPhone! For the last 5 years in Europe, I’ve had a simple, pay as you go phone. I decided it was time to upgrade. While I’ve handed over all my data to get the long-awaited Apple merchandise, I still have to wait a week for them to switch my number and get my hands on my new iPhone! Here’s to hoping it goes smoothly…

On Monday I also attended an event at the Casa Arabe where I’m taking bi-weekly Arabic lessons. This event, called “The Tunisian Solar Plan,” was part of the Casa Arabe’s Forum on Economic Events with the Arab world. It was really interesting and motivating. As I listened to the Director of the Tunisian Society of Energy and Gas (STEG) present to potential Spanish investors, I was thinking, yes, this is what I want my transition into the private sector to be – I need to work on issues that are important to me and that stimulate me intellectually. Corporate social responsibility regarding the environment and the increasingly popular green movement are issues that businesses can no longer ignore. A man in the audience from the Spanish bank Santander asked the Tunisian businessman when they would know the outcome of the latest round of bids… probably to know if one of his clients would be getting the job, for example, of building a photovoltaic plant, and thus, his bank would be doing the financing. It’s all about money in the end, but isn’t it great that the money is trying to promote renewable energies?! I learned that between Italy and Tunisia there are underground cables that cross the Mediterranean to supply Europe with Tunisian energy. Fascinating. Tunisia wants to become a leading Arab exporter of renewable energies to Europe… I could go on and on with the interesting facts and numbers I wrote down, ask me if your interested.

On a related note, Wednesday I got my electricity bill from Iberdrola. In each bill, they include a little display of where “my” energy comes from and of how much carbon dioxide they emit. Apparently, in 2009, in the whole “Spanish Electric System” 27.9% of energy produced was from renewable energies. Seems like a rather larger percentage! In the same period (I think, I don’t quite fully understand the little info sheet yet), Iberdrola’s mix of energy included 12.5% renewables. When I have more time, or hopefully for one of my classes, I will be able to look into this further and have more accurate comments and reflections….

I spent the rest of the week going over some of the material we went over in the pre-program. Unfortunately for my studying, but fortunate for my social life, I had three visitors arrive Thursday from Italy, so I’ve been busy with them seeing the city all weekend. Updates on that Monday before school starts!

I’m a little nervous! I’m taking a break from my visitors Monday to catch up reading everything the school has posted online this weekend about our first week. I kind of wish we had all of the information sooner than 5 days before the program starts, but I will manage!

pre-program, check

The pre-program is over. What a week. I now remember what college was like... always not getting enough sleep, and I didn't even go out! And thanks to the two night classes and a study group for Financial Accounting, I missed two Arabic classes and a yoga class... But I knew that would happen when I signed up for those extracurriculars. MBA is the priority.

My first case studies have been completed. I spent at least four hours pouring over just the first one... and while I did finally manage to balance my balance sheet (and yes, I felt like a rock star), I still got a lot of numbers wrong. That's why I was so presently surprised at how easy it was to resolve my doubts and mistakes during our first work group session. We had great group dynamics. Where as I might have spent 20 minutes going over one transaction, in the group, everyone offered their ideas, we all usually liked one more than the others, chose those debits and credits and moved on. It was great! We finished all three cases in record time, albeit with some errors, but hey, this is just the pre-program and we're only just getting our feet wet! Thanks pre-program Group 1 Financial Accounting Group 5 for a great first week. 

The pre-program classes have already started to change the way I think about some of my business ideas, and about what it means to analyze business processes. Financial accounting might not be something I want to do everyday the rest of my life, but I can definitely see the value in understanding it and being able to analyze income statements and cash flows.  

Plaza del Conde del Valle de Suchil

This week I found a great new place to study or read while it's still relatively warm out... a little park not too far from my apartment - Plaza del Conde del Valle de Suchil. It's not Retiro, but it's close and has lots of benches. 

Now off to unpack my box of clothes that has arrived from Italy, clean, make dinner, and start the weekend!

a lot of firsts

So the whirlwind has started! Yesterday was the first day of the pre-program! So far, the teachers are excellent and I really think I'm going to get a lot out of the pre-program. I'm having an easier time understanding the material in Quantitative Analysis than Financial Accounting, but I think so is everyone else. I'm really glad I finished at least half of the online course I paid for with MBA Math. It gave be a good background for understanding a lot of the excel functions and accounting principles we are learning. Yesterday I also bought my first textbook, for €55.80! I'd try to buy the rest used, but since we have not been given a list of the books we will need, I'm a little hesitant to assume that we will be needing all the books the past intake was instructed to get...

I had met some of my classmates already through get-togethers organized online by Facebook, but this was really the first time I was able to meet many of them face to face. Every piece of literature and every IE alum will tell you the same thing - what an international group! In our Financial Accounting class we had to introduce ourselves and people, just in my pre-program group, literally come from all over the world. This diversity of cultures, together with the diversity of experiences, already led to many thought-provoking questions in my first day of classes. I'm excited to get the get-to-know-you phase over and to start making some friends!

This weekend was also the first time I used my new gym membership. I went with Palestra. It's a bit pricey but it's literally 5 seconds from my apartment building, and it's the only gym I could find in a 10 block radius that opens at 7am. I like to get my exercise done in the morning. Getting up is already no fun, so whether I do it at 6:50 or 7:30 makes little difference to me. I might as well get up half an hour earlier to burn some calories and stay healthy, especially because I usually feel like I have a million things to get done in the afternoon... The gym is really nice and it's all-inclusive: my monthly fee covers the cardio machines, muscle toning machines, and all their courses offered like yoga, pilates, tai chi etc. For now I'm just trying to do yoga two nights a week, but I might add tai chi later. I did tai chi for several months when living in Italy and really enjoyed it.

So that's my start at IE! So far, so good. Now, off to finish the reading I need to do!

P.S. My landlord and his father are so cute! They just came to put "prettier" drawer handles in my bathroom and baked for me a Spanish tortilla!

my favorite gelato and a book presentation

I'm still in Italy, and in the past few days I returned to Torino once again to visit my old co-workers. The first stop I made, however, was to my favorite gelateria (ice cream parlor) GROM. Their flavors are so rich and distinct, I believe, because of the high quality products they use. This time I had their crema di Grom (crema or cream ice cream is essentially custard), ricotta con fichi canditi (ricotta cheese with candied figs), and marron glacé (candied chestnuts). Their flavors vary according to what's seasonal in each month of the year. GROM is definitely a business I'd like to study more in depth. From their website:

"The idea is to apply to the artisanal gelato production, a principle common to all the best restaurants in the world: the purchase of absolute top quality raw materials.
With this purpose in mind, at the end of 2002, Guido Martinetti and Federico Grom set out to search the best that agriculture has to offer, from the Langhe to Sicily and Central America. The standards are strict: only fresh seasonal fruit, coming from the best consortia in Italy and from our farm Mura Mura no colorings or artificial additives, Lurisia mountain water for the sorbets and high-quality whole milk for the creams, organic eggs and a selection of the best cocoas and coffees from central America."

They started in Torino and in the last few years have expanded across Italy, to Paris, and even to New York. While they use biodegradable and environmentally friendly products, my question is, with their geographic expansion, how do they make up for the carbon footprint of transporting all these green products?

This is one example of why I think it would be extremely interesting to study supply chain management if I want to be able to consult on corporate social responsibility initiatives.

What else did I do this weekend? I went to the presentation of a very interesting book called Essere Maschi (To Be Males). The event was part of a series of seminars in a conference put on by the group Maschìle Pluràle, an association of men that now has chapters all over Italy. The group formed partly in response to the feminist movement in Italy in the 1980s to help men "find places and instruments to start a research on their identity, on their relations with women and with other men, on their place in the world, on the perception they have inherited from their bodies, and on their sexuality" (translated from their website). The title of this weekend's conference in Torino was "That dark object desire: the male sexual imagination and the issue of prostitution." My former employer, the Tampep Association, was involved in the events because we help victims of human trafficking forced into the European sex trade. The book Essere Maschi by Stefano Ciccone addresses all these issues. It was interesting because during my three years at Tampep we had always sought to involve more the male perspective, especially to help us reach out to the clients of the women we helped. Hopefully this joint event has helped Tampep in laying down the groundwork for future projects. In addition to all I learned about working with the public sector and about project theory, development, and management, I think my time with this NGO will really help me in business. Working as they say "on the grassroots level" really gives one perspective on all the many various stakeholders in social and commercial phenomena and on the importance of detail in implementing any project that aims for social change.

practicing being a businesswoman / fashionista for life

So I'm back in Italy again! Sorry for anyone reading who thought that this was going to be about Spain - I promise, it will be!

This week I've been helping my boyfriend and his brother design some bijoux for their stores. It was fun to see the immediate turn around. I designed 10 or so pins for women's scarves or coats, and five were sold the next morning! Last spring when I visited Madrid to check out neighborhoods, I also helped the bf buy merchandise from the wholesalers south of Sol. I also went with him a month ago to the MACEF trade fair in Milan. He left yesterday for China to stock up on the newest beads and bijoux. 

Watching my boyfriend and his brother start their jewelry businesses from the ground up motivated me in part to apply to business school. Through their eyes I've learned a little bit about the bureaucracy of opening a business in Italy. More fascinating still, I've seen what they pay for earrings or necklaces that I might have bought for 10 times the price or more if I didn't have them to supply me... It's really interesting to enter the world that goes on behind the small business, to see where they get what gets put on the shelf.

Fortunately, I don't like about 1/2 - 3/4 of what my boyfriend sells, so I don't steal too many possible sales from him :) I've learned to head his advice when going with him to buy wholesale: don't get what you like, get what those "boring, fad-following, tacky" teenagers or ladies like, because that's what's in the market, that's what sells, and that's what's paying the bills! So that's why five of my pins sold yesterday, I didn't make anything I'd actually want (I did that this morning hehe), I made designs I thought would sell, and so they did! Of course there are business where that's not the case, but that's not what my boyfriend nor his brother are currently dealing in.

Too bad I don't want to go into jewelry design... it was just diversion for a day for me. My ideal small business would definitely involve food... This weekend, we attended the local chocolate festival, and thank God I can't find the names of the vendors because I'd be way too tempted to seek them out and buy more absolutely amazing chocolate. Believe me, I've had my fill for awhile.

This morning, I delivered some new merchandise to my boyfriend's shop in Genova and sat down for lunch to enjoy some testaroli al pesto. Genova and the Ligurian region in general is famous for its pesto. While I've been to Genova numerous times, bought fresh pesto in the grocery store in Torino, and even made my own, I had never actually had any in a Genovese restaurant. And... the jury (me) likes my own pesto better! That's the way it goes in Italy, the food is always amazing, but everyone has their own little recipe. What I had for lunch today was a little more garlic-y and a little short on the basil for my preferences. Here's a picture of the same dish I made for my family this summer. I was given the testaroli pasta as a gift from my coworkers before leaving Italy. It came from the specialty "slow foods" store Eataly that started in Torino, but now has several locations, including a brand new one in New York. 

Doing touristy things reminds me of the magic and beauty of Italy... it balances out my love/hate relationship for the country. I tell everyone I never want to live here again, but really, as I'm contemplating what to put as my first choice office for 2011 summer internships with consulting firms, Rome is definitely a very close second right now to Madrid. I think with the right, challenging yet rewarding job, I'd be happy establishing myself permanently in either place... as long as I eventually get to buy my Mediterranean farmhouse with a killer garden... and maybe a small vineyard :) Dreams!