Category: Events

«Covid hasn’t stopped us: here’s why we enrolled at MIP»

Posted on | by Beatrice Grillo | Leave a Comment on «Covid hasn’t stopped us: here’s why we enrolled at MIP»

The current situation could have generated doubts about the wisdom of confirming one’s course enrolment. That didn’t happen: three students tell us why. Among their motivations, the effectiveness of digital learning, the solidity of social networking and the desire to study with colleagues from around the world.

The Covid-19 emergency caused a general global slowdown, but didn’t stop the education sector, which quickly converted to digital formats. And if on one hand MIP Politecnico di Milano didn’t interrupt its services, on the other its students haven’t stopped either, despite the situation underway they have confirmed the desire to follow the courses they enrolled in. Indeed, in some cases, forced work stops have even made the choice simpler. At the most, doubts could have involved the topicality of the contents: would they have stood up in the face of the changes brought on by the pandemic?

The importance of truly digital contents

A week of courses was enough to dispel this fear, as Micaela Long, enrolled in the Flex EMBA and based in Basel, tells us: «I had decided to follow this programme because of the solidity of its contents and the elasticity in delivery methods, which were well suited to my work and family routine. A few days were enough for me to understand that flexibility is also a characteristic of the contents: all the issues that we are addressing, we are also looking at by considering the current situation». After a week, the balance is positive, also as far as the impact of digital learning is concerned: «Working in a corporate role in a pharmaceutical multinational, I was already used to online interaction. However, I must say that the Flex EMBA positively surprised me: a lot of the contents are conceived from the start for digital use; they’re not trivial transpositions of classic face-to-face teachings, but are conceived to take advantage of the strengths of digital. The difference, compared to my previous e-learning experiences, is clear. Also because, despite the asynchronous learning mode, MIP has devised mechanisms that create a community, thus completing the educational experience: my colleagues and I constitute a class where there is a continuous exchange between us and the professors», stresses Long.

Social networking also works remotely

Vanessa Ottone, who works for Accenture and follows the course from New York, also saw the current situation as an opportunity to invest in her education: «The pandemic never influenced my decision. Although its economic and financial repercussions will see us facing major challenges, I’m convinced that in the long term, now more than ever, that leaders must show themselves to be resilient and well-rounded. A programme like the EMBA can support me in this direction and prepare me to take advantage of the opportunities that will emerge after the crisis». Like Long, Ottone also had an excellent impression of her first week of online courses: «I’m convinced that a programme like the Flex EMBA, that can count on the best digital instruments now available, can give life to a network of solid relations, generating valuable connections for all participants. After a week of lessons, I have the feeling that the time we spend together in working groups allows us to develop interesting interactions and to establish lasting connections».

The wealth of an international class

He hasn’t yet started his full time MBA programme, but from India civil engineer Pretyush Johari, has confirmed his participation: «Certainly, I had doubts on my enrolment, also in light of eventual logistical difficulties. However, several factors led me to not back out. Starting from the richness of the study programme, so well-structured and suited to my work and educational background. But the positive comments of some of my acquaintances, both with regards to MIP and to Italy, also had a strong influence. The prospect of joining a class made up of people of different nationalities, coming from around the world and able to contribute different and innovative points of view, is absolutely tempting, because I’m convinced that we can learn a lot from each other. Finally, I can’t wait to try my hand with project work, where I will be able to give shape to my ideas, also thanks to the skills that I will have fine-tuned during the master’s».

«Should you Apply for an Online or Campus MBA When Lockdown Ends?»

Posted on | by Beatrice Grillo | Leave a Comment on «Should you Apply for an Online or Campus MBA When Lockdown Ends?»

The coronavirus crisis is forcing business schools to bolster their online learning environments, but remote study may involve a trade-off between flexibility and networking

The coronavirus crisis has split opinion on remote teaching. Business schools have raced to close campuses and migrate classes online, but some MBA students are demanding tuition fee refunds and deferrals, arguing that online learning is a subpar experience.

Proponents, however, argue that this could be the tipping point for online education, an unexpected opportunity to prove the detractors wrong, catalyze innovation in teaching methods and put forward a test case for digital delivery of degree programs. While many students will be eager to return to campus when the lockdown finally ends, there is a section of the population for whom a bolstered online learning environment will appeal to.

Doing an MBA online or on campus: trade-offs 

The decision between doing an MBA online or on campus may come down to the trade-off between flexibility and networking, as well as a student’s lifestyle and work ethic.

Online courses attract people who want their studies to be compatible with work and family commitments. They can pursue the degree at their own pace, rather than quitting their job and incurring a substantial opportunity cost of not earning a salary for up to two years.

“The advantage is that online study is flexible and personalized,” says Federico Frattini, dean of MIP Politecnico di Milano Business School in Milan, which puts on the iFlex online program. “Participants can choose when, where and how to attend the lessons. Students have total freedom and can incorporate their studies with their family and work.”

But online learning requires much more commitment to keep up with classes and coursework, especially if you are working full-time or raising a family. “Online courses suit those who are self-motivated and have good time management,” says Frattini.

Students often dramatically underestimate how long they will spend looking for the next professional opportunity after graduation, says George Andrews, associate dean of degree programs at Rice University’s Jones Graduate School of Business in Texas. Balancing a career search with a job, study and family obligations is a “Sisyphean task”, he adds.

On-campus courses come with stricter deadlines and suit people who work better in structured environments, rather than mavericks. Individual learning styles can influence the choice of study modes too. “Some people prefer face-to-face exchanges, while others thrive in online formats,” says Paulo Prochno, assistant dean for online programs at the University of Maryland’s Robert H. Smith School of Business.

Financial concerns

Finance is an important consideration for prospective students. “The cost of attendance for an online student can be less since there are no lost wages, no relocation expenses and no regular commuting costs,” says Andrews from Rice Jones. Tuition fees for Online MBAs can be a fraction of the price, which reflects reduced overheads, with teaching facilities and faculty being expensive.

In theory, remote study improves access to students who can study from anywhere in the world without giving up their job and salary. In reality, most students live locally to campus in many online programs. “A high percentage of our students live in Texas, but many live in states across the country. A few are internationals,” says Andrews, of his school’s MBA@Rice online program.

The diverse perspectives of overseas students would enrich learning through group work. However, they want to be fully immersed in an environment that is different to their home, says Andrews. “They want the complete experience, not just the education.”

MBA online vs. in-class: other concerns

Another challenge for overseas students is tuning into live classes from disparate time zones. Remote study may not be suitable for a relocation to the US either, since it does not qualify international students for a 12-month work visa through Optional Practical Training, a popular scheme.

Stacy Blackman, an admissions consultant in Los Angeles, says candidates should also consider their chances of being admitted to an MBA. “Online programs are more open to those candidates who aren’t perfect with respect to work experience and test scores,” she says, citing entrance requirements. “Acceptance rates are much higher with online programs than traditional MBAs.”

For instance, at many schools, online students can skip the GMAT or GRE admissions tests if another element of their candidacy, such as leadership experience or educational attainment, is exceptional.

But schools insist that admissions standards for online and on-campus programs are equally rigorous.

For many students, the big downside to a digital degree is the limited opportunity to build a network. Full-time students spend far more time together building bonds.

“Many students presume they would miss out on networking opportunities, due to the belief that face-to-face communication creates stronger, more human connections,” says Frattini at MIP. However, he adds that online students are keen to share their experience and knowledge with peers. They join the same alumni network as their counterparts on campus.

Andrews says that building meaningful relationships with peers is central to any MBA, regardless of mode of study. Online MBA students cultivate contacts via weekly live lectures at Maryland Smith. “If there’s a drawback to online study, it’s the challenge of providing a community experience,” says Prochno.

“These sessions engage the entire class,” he adds. “They all see one another and the faculty in real time — an opportunity to create a real sense of community.”

Online programs invariably offer opportunities for face-to-face networking, such as through on-campus residencies and global study trips. MBA@Rice students have visited Mexico City and attend optional weekend meet-ups in Houston where “lasting relationships with classmates and faculty are solidified”, says Andrews.

The boundary between online and campus learning is being blurred as students demand more flexibility in how, when and where they study. The coronavirus has accelerated this trend. For instance, at the UK’s Warwick Business School, MBA students starting this fall will be able to switch between online and in-class learning, at will.

Likewise, students at Carnegie Mellon University’s Tepper School of Business can transfer from the online to the full-time MBA program and vice-versa.

Cindy McCauley, Online MBA director, says this option appeals to students who are considering a campus program but are concerned about leaving their job in the current economic crisis. “They can start in our Online MBA and then transfer when the timing is better,” she says. “This is a particularly strong selling point given the uncertainty of today.”

 

This article was originally published here: https://find-mba.com/articles/should-you-apply-for-an-online-or-campus-mba-when-lockdown-ends

 

 

From the fisherman to the customer, via MIP: the case of Orapesce

Posted on | by Simona Strepparola | Leave a Comment on From the fisherman to the customer, via MIP: the case of Orapesce

The study on the food sector. The idea born on the beaches of Rimini. And then the support of MIP, followed by the choice of equity crowdfunding: Giacomo Bedetti, 2016 part-time EMBA alumnus, tells us about the origins of Orapesce, a digital fish market service.

Innovation was born in the classrooms of MIP. Evidence of this is Orapesce, a startup that operates in the fish market by offering its customers the possibility of purchasing fresh fish online that is delivered directly to their homes. «Analysing the performance of the grocery sector, it was evident that the growth of digital consumers in the food sector was a significant trend», explains its founder Giacomo Bedetti, 2016 part-time EMBA alumnus, telling us about the genesis of the project. «Then, talking to a fisherman friend in Rimini, the spark came that led to the idea».

MIP’s added value

Indeed, until the creation of Orapesce, «a digital fish market service didn’t exist», explains Bedetti. «It was an opportunity to be seized immediately, creating a business-oriented group». In the ideation phase, MIP played an extremely important role. «Being able to explore the potential of this idea during the Executive MBA programme I was attending was crucial. Alongside a strong motivational element, there was the contribution of Professor Antonio Ghezzi, who gave us the tools to read the business and the relative metrics. And then we were able to count on the support and experience of skilled professionals». A series of elements that contributed to an excellent start on the market: «The phase of project work for Orapesce ended in July 2018, and we posted revenue of 100,000 euros in 2019. An extraordinary result, that wouldn’t have been possible without the support of MIP».

Equity crowdfunding to boost communicative momentum

At this moment, Orapesce, after 14 months of activity, finds itself in an extremely delicate phase of its life. «It’s the hard reality of startups. Either you grow, or you die», explains Bedetti without mincing words. Growing means achieving significant numbers, and this is often tied to visibility. «It’s one of the reasons we decided to finance this business exploiting the equity crowdfunding model, that allows those enrolled to invest in innovative projects. We succeeded in bringing Orapesce on Mamacrowd, which in Italy is the best possible platform for this model». At end February, Orapesce on this platform raised 381% of the minimum set goal, for a total of over 300,000 euros. «But the economic factor isn’t everything», reveals Bedetti. «For Orapesce, Mamacrowd was a commercial showcase. It’s not easy to gain the attention of 100,000 contacts, instead in this way we were able to take advantage of a real flywheel effect».

Goal: become a marketplace

Those who have visited the site of Orapesce will have realized that it’s not limited to being a shop, but also proposes a series of contents to users. «Our goal in this stage is to establish a brand that sells fish. But this is only the first step», explains Bedetti. «What we really aim for is the strengthening of a marketplace that puts consumers and producers in contact. In our future development there is a model in which earnings will be based mainly on commissions on exchanges within this network». For this reason, the site is rich in interviews with chefs and fishermen: «We want to use the possibilities of new devices to offer a path to the consumer, and to establish a strong digital identity».

The importance of soft skills

And if within Orapesce the importance of digital goes hand in hand with that of logistics, we must not neglect the general management skills that allowed Bedetti to create this startup. «I’m not talking so much about hard skills, but of soft ones. I attended the Executive MBA programme as someone over 40, I already had a lot of experience behind me. I didn’t need another title, but I felt the need to improve myself. That’s why I chose this master’s programme. There’s nothing more valuable than soft skills: knowing how to negotiate, knowing how to build relationships, being a good leader, today, are essential skills for those who aspire to become a manager or an

Global Business Services: the GBS Certification Program comes to MIP

Posted on | by Simona Strepparola | Leave a Comment on Global Business Services: the GBS Certification Program comes to MIP

Filippo Passerini, considered one of the world’s top experts in Global Business Services, illustrates the advantages of a GBS strategy.

A strategy aimed at large companies, thanks to which it’s possible to reduce costs by exploiting economies of scale, freeing up resources from the most repetitive tasks and transforming their business model: «It basically is a matter of aggregating services within a company, when these are dispersed or duplicated in different organizations. This is the essence of GBS (Global business services)», explains Filippo Passerini, director of the GBS Certification Program for MIP Politecnico di Milano.

GBS explained by professionals in the sector

«I had the fortune to build and manage GBS in Procter & Gamble (P&G) for over 12 years. Our business benefited enormously, both in terms of cost reduction and innovation. I would now like to create value for other companies and for individuals, sharing knowledge and skills», explains Passerini. «I’m very satisfied to be able to work with MIP for this programme: it offers an infrastructure that allows you to effectively go to the market and certifies the educational rigor of contents. The latter will be developed by Inixia».
Inixia is a consulting service whose advisors all have concrete experience with GBS and shared services: «They are people who, like me, had worked for P&G, whose GBS model is considered to be a real benchmark. Inixia was created with the aim of setting up a certification programme that allows people to obtain a qualification in this area».
Indeed, GBS can’t be improvised, warns Passerini: «There is a specific sequence of steps to follow, that leads to better results more quickly. There’s a strategy to follow and this is also why it’s important to gain specific skills».
At the same time, the numbers speak clearly: in 2018 the value of the global shared services market amounted to 56 billion dollars, a figure that is expected to double by 2025.
Equally tangible are the advantages for companies: a cost reduction of up to 50%, together with a tripling in value creation. The areas of application involve almost all of a company’s operational services and processes, in any sector: finance, human resources, supply chain, purchasing, IT, marketing and sales processes, customer and consumer service centres.

GBS and the digital transformation

It would be wrong, however, to think that GBS, by now with a twenty-year history behind it, is a static strategy. Just think of the impact the digital transformation has had on the organizational structure of companies. «Digital is a great resource», explains Passerini. «The current organization of companies forces us to use resources, human and material, in low value-added but necessary operational processes. For example, the billing cycle, payments to suppliers, or salaries for employees and many other internal processes: they’re essential activities, but consist of repetitive steps that don’t add value to the core business. GBS is an excellent platform for the digital transformation: these processes can be automated and further optimized by applying new technologies. In this way, efficiency and effectiveness are increased, resources are freed up for more strategic tasks. The benefits can vary widely, from “simple” cost reduction to an engine for innovation of the operational model. And that’s where expertise becomes important».

How the GBS Certification Program is structured

It is for this reason, then, that the GBS Certification programme was created for MIP. «These are short online classes lasting from six to 12 hours», explains Passerini. «The course is structured in five levels. It starts with the Foundation level, which addresses the basic principles of GBS. This is followed by what we have called pillars: Service Management, Operations Management, Transformation. At the end, there’s the Leadership level, after which you obtain certification. We conceived it a little bit like a path that follows a sort of managerial seniority, aimed both at those are at the beginning of their experience or in more operational roles, both senior managers and GBS leaders. It’s a real process of professionalization, to use an English term that I find very appropriate in this case. The goal is to train highly competent people».

Excellence in digital education: the School of Management of Politecnico di Milano is the only Italian recipient of the EOCCS certification for Executive MBAs.

Posted on | by Angela Leone | Leave a Comment on Excellence in digital education: the School of Management of Politecnico di Milano is the only Italian recipient of the EOCCS certification for Executive MBAs.

The certification granted by EFMD (European Foundation for Management Development) rewards high-quality MBA programmes in 22 universities across the world.

The School of Management of Politecnico di Milano is the first Italian business school to receive the EOCCS certification for digital learning courses taught within its Executive MBA programmes. EOCCS (EFMD Online Course Certification System) is a quality benchmark system developed to assess online courses, devised by EFMD (European Foundation for Management Development), the most highly-regarded institute in Europe within the field of managerial education and development.

In 2017, only 35 courses in Europe had received this coveted accreditation, held by 11 universities. Today, EOCCS has endorsed a total of 22 schools globally.

The EOCCS certification lasts for three years, and has been awarded to two courses held at MIP Politecnico di Milano Graduate School of Business: Innovation Management, taught in English within MIP’s International Flex EMBA, and the course on Supply Chain Management and Purchasing, taught in Italian within the Flex EMBA programme. This is a significant reaffirmation, as both courses had been granted EOCCS certification in December 2017. Both courses are taught in full digital mode.

The EOCCS certification is a further stamp of quality within our programme of online courses, which has been extended and strengthened due to the COVID-19 pandemic. The EFMD brand sets a benchmark for the most outstanding online courses, those that are able to combine the greatest flexibility in studying, methodological rigour, high standards of teaching and a quality of interpersonal relationships that is comparable to in-presence teaching.

Vittorio Chiesa and Federico Frattini, President and Dean of MIP Politecnico di Milano: “We are proud of this renewal to our EOCCS certification, following on from that received in 2017. The endorsement rewards the hard work carried out in our School since 2013 to offer a suite of increasingly flexible courses that respond ever closely to the needs of each student.

Belonging to a select group of schools is particularly gratifying in this period, which sets out the extraordinary importance of good online teaching. The digitisation process has shown that learning opportunities can be multiplied, overcoming barriers and boundaries. Digital teaching is taking its rightful place as a tool for inclusiveness in teaching, now and in the future.”

Insights from an international MBA – part 2

Posted on | by Simona Strepparola | Leave a Comment on Insights from an international MBA – part 2

An international format for an MBA program provides an additional experience that is not limited to learning new subjects or theoretical/practical concepts. Meeting people from all around the world creates a mixture of points of view which enriches the experience at MIP. Let’s hear it directly in the words of my friends and colleagues on the i-Flex program, Claudio Miguel Jamisse Buque from Mozambique and Heidemarie Haupt from Italy.

Why did you decide to pursue an international MBA program?

Claudio: I am an Electrical Engineer by training, and I have been working for almost 9 years in project development and implementation in sub-Saharan Africa. An international MBA program complements my current set of skills and experience. Through this course, I am able to gain a unique mix of skills needed to advance my career in management. I am able to understand the business aspects behind the projects that I work on, making me a valuable asset to the teams that I am part of. In addition, the international program places a lot of emphasis on and exposure to global challenges, which one would not experience through a non-international MBA. This is important for expanding the geographic range of my experience.
Finally, MIP’s i-Flex program has the added advantage of being online, which allows me to continue my professional activities and gives me enough freedom to balance my time between classes, family and work life. The program allows for interaction and networking between students from all parts of the globe, making this a good opportunity to turn my professional network into a global one.

What do you think are the main advantages of an international environment?

Claudio: In an international environment you develop an appreciation for diversity. Diversity comes in many forms ̶ culture, religion ̶ but most importantly, in the way of thinking. Through diverse teams in an international environment, I have experienced a broader and more open-minded approach to problem solving. During the interactions with my colleagues, I am developing an admiration for different ways of solving problems and a better understanding of the term collaboration. Being in an international environment it is also easier to relate to the impacts of global crises, not only in the society you live in but in the entire world.

How can this i-Flex program provide support in making an international contribution?

Claudio: The i-Flex program class is geographically diverse, with students residing in five different continents. The program is taught on an online platform that enables international collaboration. Contributions are encouraged and productive discussions between professors and students always occur across different countries, sometimes in different time zones. The topics for discussion are also international, meaning they usually touch on a range of countries. The platform supports this collaboration across countries in a modern and virtual way. This means the solutions we propose or discuss originate from a truly multinational contribution.

How might a multicultural environment impact your personal and professional life during classes?

Claudio: A multicultural environment is an important attribute for the international MBA. While discussing and solving cases, students develop the soft skills required to succeed in multicultural environments. In my professional life it will help me to adapt more easily to the challenges that a multicultural environment creates, and in my personal life it will help me to take advantage of the opportunities that arise in the context of multicultural networks. In both cases, I can see only positive outcomes to being exposed to a multicultural environment.

What do you expect this program will bring to your life after graduation?

Claudio: Primarily, I look forward to acquiring the hard and soft skills required for growing and succeeding as a manager. These skills will contribute to my professional prosperity, be it in my current position or future placements. Additionally, the friends made and strong relationships built with colleagues are of great value, both in my professional and personal life. I expect to maintain the international connections and to continue to develop close-knit friendships that will benefit my personal and professional life.

In case you missed the quite talk with Heidimarie and would like to know her experience, read her interview and find out her point of view on the international experience offered by i-Flex.

About the author
 Vito Conversano

Student of the International Flex Executive MBA at MIP Politecnico di Milano.
Chief Information Officer @ San Marzano Vini SpA with extensive international experience in IT & strategic consultancy for fortune 500 companies. Creative, Curious, Travel lover. Passionate about discovering new concepts, learning continuously and developing new ideas.

 

From energy to art: the success of Itisartime

Posted on | by Simona Strepparola | Leave a Comment on From energy to art: the success of Itisartime

The experience of two alumni of the Master in Energy Management programme who together manage Itisartime, an Instagram page with half a million followers. From their meeting in the classrooms of MIP to the development of an entrepreneurial mentality, following the concepts of progress, innovation and change.

What’s the relation between a Master in Energy Management from MIP Politecnico di Milano and an Instagram page with over 450,000 followers that talks about art? Apparently none, but in reality, the relationship exists, and it goes beyond the fact that the hosts of Itisartime, Alessandro Brunelli and Andrea Del Moro, are both alumni of the MEM programme. «Art and energy share the concept of progress. Art is by definition creativity, and in turn creativity is innovation and change. And what are the most common words in energy conferences? Progress and revolution», explains Brunelli.

An ongoing project

Itisartime’s experience goes way back. «In part it coincides with my personal story»,  says Brunelli. «At the age of 19 I started to collect small pieces of art that seemed to be talking about me; showing them to everyone on social networks seemed to me an innovative way to tell about myself». A vision that gradually expanded: «When I realized that the world of art was boundless, I decided to go beyond that limit and instead repost all those works that stood out from others. That was the true birth certificate of Itisartime, a project that saw the light in 2015».

The success of the page, which also brought the two to the Affordable Art Fair of Milan, initially took Brunelli by surprise. «I’d never have thought to reach a half million people». Big numbers that require some reflection on the future of the project. And also from this point of view the Master in Energy Management played an important role: «There I met Andrea, who joined the project in a later phase. He has excellent communication skills, a broad commercial and project vision. For all these reasons he came onboard, to transform Itisartime into a more solid reality. We aim to become a reference for the sector», reveals Brunelli.

Five ideas for art in Italy

On the state of art in Italy, and on what concerns its communication and dissemination to the general public, Brunelli has clear ideas: «The potential of our country is enormous, we know it. There are initiatives that I think have represented important steps forward. I’m thinking, for example, of Domenicalmuseo, that brings many people closer to places of art. But also the combination of art and cinema can arouse interest in those who are perhaps tired of the usual exhibits». Obviously, there’s no lack of areas in which it would be possible to do more: «We should maintain and increase subsidies to funds like Fai or to private exhibition spaces, like Hangar Bicocca or Fondazione Prada, to give some examples. The appeal with young people would grow. Secondly, all initiatives should be channelled through an information channel and disseminated. Lastly, try to transform problems in solutions. I’m thinking about street art and urban art: investing on thematic projects could transform acts of vandalism in works, thanks to which you could redevelop peripheral areas».

The added value of the Master in Energy Management programme

Among these and other suggestions, Itisartime looks to the future. And it does so thanks to some lessons that Brunelli and Dal Moro learned during the Master in Energy Management: «I have an engineering background, Andrea an economic one. The first thing a master’s does is to connect people with different backgrounds: it’s from the comparison of points of view and different experiences that good ideas are born. It was a truly lucky meeting, if we think that we now collaborate in a sector so far removed from our training and educational experience. The master’s gave us ideas for professional improvement and more generally of personal development. If today we evaluate job opportunities tied to Itisartime with an entrepreneurial mentality, the credit goes to the MEM», concludes Brunelli.

2020 Full Time MBA: the specialization in Luxury and Design Management

Posted on | by Simona Strepparola | Leave a Comment on 2020 Full Time MBA: the specialization in Luxury and Design Management

This MBA concentration at MIP aims to give students first-hand exposure to Italy’s luxury sector, with a study tour organized in important productive districts. The goal is to train professionals who are at ease working with the main trends underway.

Understanding the unique characteristics of the Made-in-Italy luxury sector, in order to be able to work in it by both innovating and preserving the tradition of historic brands: it’s the objective of the specialization in Luxury and Design Management, one of the four concentrations that since 2020 allow students in the Full Time MBA programme at MIP Politecnico di Milano to select an area of their choice to study in-depth. «Those who choose the luxury path will be able to discover the secrets of Italian companies, maybe still owned by the founding family, which however have been capable of becoming global leaders in the sector», explains Politecnico di Milano professor Alessandro Brun, Director of the Master in Global Luxury Management (MGLuxM) programme.

Luxury between strategy and operations

Specializations are paths that respond to specific needs of companies, which look for professionals trained in management, but also require more specific expertise. Luxury is one of these areas. «But luxury doesn’t only mean fashion», stresses Brun. «Instead, we mean everything that can be defined as high-end, in any sector. Sports cars, boating, jewellery, design, and furniture. And often foreign students are particularly interested in understanding the profound reasons for the global success of Made in Italy». The teaching methods of the Luxury and Design Management specialization have the same key characteristic of other concentrations: an eminently practical approach. «The first two weeks will have a more traditional start, even if bootcamp mode will already begin in this period, with projects assigned to students to carry out in close contact with company managers. In the first week, we’ll touch on strategic elements: what is luxury, who are the main players and how you compete in this sector, how you carry out a market analysis, how you establish positioning, up to the go-to-market strategy. In the second week, more operational issues are addressed: the sustainability of the supply chain, the different retail models, inventory management, the optimization of supply chain flows».

On the road to discover Made-in-Italy excellence

But it’s especially in the third week that all these elements are truly seen in action. «We have prepared what is a real study tour», says Brun, «a last week of bootcamp conceived and organized as a trip through the Italian productive landscape. We’ll set out from Milan by bus. The first stop will be in the Modena area, a territory with a great production of luxury autos; but there will also be an opportunity to visit a vinegar factory, since balsamic vinegar is also a product with luxury characteristics in the world of food. We’ll then move on to Tuscany, where there are equally interesting districts: leather goods and shoes come to mind. In these years, by the way, we have been working closely with Prada, Gucci, Ferragamo. We also couldn’t skip a few exclusive experiences tied to wine, all accompanied by managers who will talk to us about innovative ideas and business models».

The trends in luxury professions

The objective of this specialization is to contribute to moulding professionals that can take on not only the most traditional roles in the sector, but also those tied to rapidly developing trends. «Let’s think about the centrality of online sales channel in China. By now the use of the web to purchase luxury products is an accepted practice, but you need to be able to manage technological and customer journey elements to guarantee the customer the experience they are looking for», explains Brun. «Not less important is the issue of visibility and traceability: this includes communication, security, the fight against counterfeiting, and sustainability. Luxury companies must design global distribution chains that are a guarantee for purchases. A third issue then involves the challenge of innovation, to implement while maintaining ties to tradition: a luxury good must at the same time be perfectly modern and rich in history. Here you see the ability of those of who know how to manage innovation and design. And a single skill isn’t enough. Several ones are necessary, and you need to know how to integrate them», concludes Brun.

The illimity academy gets under way: first master in credit management in collaboration with MIP Politecnico di MIlano

Posted on | by Chiara Vasta | Leave a Comment on The illimity academy gets under way: first master in credit management in collaboration with MIP Politecnico di MIlano

Illimity, the high-tech banking group founded and led by Corrado Passera, has established the illimity academy, the corporate business school whose objective is to create high-level economic and financial educational paths for new professionals in the credit sector through teaching programmes and training in the field. 

The illimity academy’s first master is dedicated to credit management and its structure has been developed together with the MIP Politecnico di Milano Graduate School of Business, which also has responsibility for scientific guidance. The aim of the course, which will start in September 2020, is to develop new generation Credit Managers with the characteristics sought by neprix, the servicer specialising in managing illimity’s corporate distressed loans. 

The course, which combines a paid internship with direct tuition by a team of lecturers with a background in the academic and consultancy world as well as members of illimity management, will have a duration of six months and accommodate 25 students who are about to graduate in the humanities or science or have just graduated in those areas and been awarded a degree (bachelor’s or master’s) not more than one year earlier. 

At the end of the course students who stand out for ability, motivation and potential will be offered a permanent position as Junior Asset Manager. 

Selection will take place in two stages: candidates must firstly send their applications and a motivational video to www.illimity.com/mastercredito by 30 June, while during the second stage selected candidates will be interviewed to assess their skills and potential and to determine whether their profile is in line with illimity’s values and business culture. 

The selected students will attend the course on a daily basis, this alternately involving classroom teaching (400 hours) and tuition at illimity’s offices where the internship will take place (540 hours). 

The illimity Group will bear the majority of costs for the Master, which amount to €10,000 + VAT per student. Participants will be asked to make a contribution of €2,000 + VAT, which will then be reimbursed if they are hired. Study grants will also be available and the internship will be fully remunerated (€700 gross a month plus luncheon vouchers). 

Marco Russomando, Head of Human Resources at illimity, stated: “We have decided to champion the illimity academy as a means once again of investing in talented young women and men and training people in the skills of the future. People are our real strength and resource in illimity, and the numbers go to show that: after little more than a year we can already count on 500 illimiters of all ages, people with a background in 120 different sectors, arriving from 19 countries and having an average age of 36. We have always set our sights on young people, right from our beginnings, and want to continue in this direction. It therefore gives us great pleasure to undertake this journey and arouse interest and readiness in the academic world, starting with a top-level partner such as MIP Politecnico di Milano”. 

Laura Grassi, MIP lecturer in finance and scientific director for the Master stated: “Concentrating on continuous training, selecting young talents, promoting the company’s business and involving the very managers who will lead the change are the distinctive features of this course. One in which MIP, the Politecnico di Milano’s business school, has made its expertise and know-how available and put its belief in the collaborative spirit of an initiative where teachers at key Italian universities will alternate in the classroom with renowned professionals and illimity top management”.