MBA@UNC Global Immersion: Budapest - Day Three
MBA@UNC Global Immersions are offered four times a year as unique opportunities for students to travel to major domestic and international business destinations with their fellow classmates, participate in engaging discussions with their professors and elite industry leaders, as well as apply what they have learned to real-life problems. At the Budapest immersion, MBA@UNC students learned about the business and innovation of Hungary as a post-Soviet, European Union member state.
Rapidly Prototyping Your Global Brand
The third and final day of the Budapest immersion began with a session called “Rapidly Prototyping Your Global Brand,” led by Sridhar Balasubramanian, Senior Associate Dean of UNC Kenan-Flagler Business School, affectionately called “Dr. B.” Dr. B first walked students through the basic elements of building a brand, including defining customer segmentation through demographics and psychographics.
Then, students chose an international country to target with a mock product, and went to work actually prototyping their brand. They created a mood board to quickly and succinctly describe their product, and then pitched their products to each other. Students were able to try developing a product for global customer segments, as well as experience immediate feedback on their brand prototype.
Bringing Innovation to an Evolving Market
A Hungarian entrepreneur and CEO led the last session of the final day of the Budapest immersion. Priszcilla Várnagy, is CEO and co-founder of Be-novative, a company that develops a worldwide unique software that involves large numbers of employees and young talents in brainstorming together in a gamified platform to boost efficiency of innovation and create better products and services together.
She shared her story of how she formulated an idea, brought her vision to Silicon Valley, and returned to Hungary to grow her company from the ground up. She had many challenges along the way, including investors trying to change her concept and running out of money, but also many opportunities, such as building a network in San Francisco out of coffee shops, and leveraging her network in Hungary to get her company off the ground.
Before leaving Hungary, MBA@UNC Associate Director of Student Affairs, Suzanne L’Amoureux led a debriefing session that tied together everything students learned during their time in Budapest.