Smith Students Explore European Entrepreneurship

In May, twenty students learned about entrepreneurship in a European context while studying in Munich, Germany and London, England. Over the course of the 3-credit, 2-week program, students visited international corporations, interacted with local entrepreneurs and enjoyed the beautiful sights in both cities.

The program began in Munich, the capital city of the state of Bavaria, Germany and the boyhood home of the faculty lead, Oliver Schlake.  Schlake is a professor of entrepreneurship in the Management & Organization (M&O) Department in the Smith School and was able to bring both personal and professional experience to the course.  He has led scores of students to Europe for this course for the past several years, changing the second city, but always including Munich.

To receive rare and valuable knowledge of entrepreneurship, strategy, and supply chain management, students spoke with executives and listened to their professional experiences, toured and visited the companies’ facilities at BMW and Amazon.  Schlake knows of the best cultural visits as well, so students were able to explore sights such as the Alps, Marienplatz (St. Mary’s Square in Munich), and the Hofbraeuhaus. 

By visiting businesses and cultural sites in two countries, students gained a wide view of the similarities and differences between the United States, Germany, and England and were able to compare cultural and professional nuances between two very distinct European cities.  The opportunities and challenges faced by entrepreneurs was a primary theme of the program, and learning was supplemented by Schlake’s extensive knowledge.

Traveling next to London, students visited companies such as the VF Corporation, an American clothing corporation that owns Lee Brand Jeans, Wrangler, and Timberland among others, to examine commercial practices of a multinational corporation. Students also enjoyed cultural visits to Olympic Park (now Queen Elizabeth Park), Big Ben, Buckingham Palace and other famous landmarks, to get a glimpse into the United Kingdom’s rich history.

Roel Petri, senior Accounting major, valued the London industry visits, saying “In London we visited Lyle &Tate, a large processing enterprise and afterwards went to Majestic Athletics, a sports apparel company. We were able to compare and contrast the different business models. Not only did you gain a good understanding of how business is conducted and how innovation works but also how that is expressed at individual company level.”

The program will be repeated in the summer of 2015 with students visiting Munich and Milan, capitalizing on the Smith School’s partnership with Bocconi University (note:  the Milan portion of this program has not yet been confirmed).  Application deadline will be March 1, 2015.  More details at:  www.rhsmith.umd.edu/global.

Nicholas Bondura, Marketing, Class of 2015