IPADE Business School (Mexico) "Doing Business in Mexico" Short Exchange Program Report 2023, Billy Chan

We are pleased to introduce a study abroad report from Billy Chan, who participated in the "Doing Business in Mexico" short exchange program at IPADE Business School, Mexico in March 2023.

In March 2023, I had the opportunity to attend IPADE Business School’s International MBA Week in Mexico City. It was a good opportunity to learn about Mexico, and to network with other professionals to gain valuable insights from people across the globe. It was my first time in Mexico. It’s always exciting to explore a new culture. It was a challenging yet rewarding experience. For someone who doesn’t speak or understand Spanish, it was difficult to communicate with the locals, but it also allowed me to see how friendly and helpful they are despite the language barrier. The diverse gastronomy also helped me discover the Mexican heritage.

IPADE Business School

Day 1

The first day consisted of a warm welcome from IPADE. We were 102 international participants from 23 business schools, adding to the 112 local students, for a total of 214 participants from 25 business schools.

In the second half of the day, we were brought to visit the famous pyramids of Teotihuacan. As soon as we arrived at the site, all the students were amazed by the sheer size and magnificence of the pyramids. What struck out the most was the fact that the site was well preserved, considering that the pyramids and the structures were built a few thousand years ago. It is unbelievable that the amazing architecture of these pyramids was built without modern technology and relied solely on manpower. The tour guides explained all the findings and theories that archeologists were able to come up with for the past century. It is still a big mystery how these major pyramids were built with all the large and heavy stones.

Day 2

On the second day, the students were exposed to the economy of Mexico as a whole. We discussed on the current economical status, its challenges, and threats, along with possible opportunities, and what companies should do to navigate through them. Mexico is still an emerging market, full of potentials for entrepreneurs to create new businesses to meet its growing market. One aspect to consider when doing business in Mexico is its culture; Mexicans adopt a collaborative approach and trust is key to success.

On the third day, we received top leaders from the health care, banking, and airline industry as guest speakers sharing their ups and downs along with their lessons in managing their business in Mexico. Despite being in different industries, they all suffer from the challenges caused by the Mexico economy.

In the next day, we got the honor of visiting some businesses that were discussed during the seminars. It was exciting to see in person their business model and to live through the challenges and rewards that the owners experienced. It was also interesting to see how their businesses evolved throughout time compared to when we first learned about it in a case study.

Day 3

The last day on Friday was full of mixed emotions. In the morning, the students shared a challenging discussion on the hardships Mexico’s politics and social issues. Topics such as poverty, bribes, corruption, criminality, low health quality, and education affordability were shared to show how Mexico is facing enormous number of challenges but still shows a lot of opportunities as an emerging market. In the afternoon, we finished the day with a tour in the downtown of Mexico City. It was a relaxing walk filled with historical landmarks story telling. It was an excellent way to close the International MBA Week.

Exploring Mexico

I arrived a few days before the school week to explore the city. I stayed in La Condesa, an area known for vibrant street life with cafes and restaurants. One of the highlights of my stay was exploring the nearby neighborhood of La Roma. This area is just a short walk from La Condesa and is known for its beautiful mansions and historic buildings.

I did a historic food tour it was a truly amazing experience. Our guide was incredibly knowledgeable and took us to some hidden gems that tourists would never have found on their own. We went to an Aztec market, food streets, traditional cantina, and restaurants to try authentic Mexican gastronomy. We also got insight on Mexico’s history and how cuisine evolved over time, while visiting different historical architecture.

I also went on a tour to visit the famous Waters of Tolantongo, which is 4 hours drive away from the capital city. The Tolantongo Waters are a series of natural hot springs located in the state of Hidalgo, surrounded by scenic mountains and forests. It was interesting to experience the difference of Mexican hot spring compared to the Onsen experience in Japan. In addition of the waters, we also got the chance to explore the caves in the same region.

Study abroad Experience

Attending the one-week MBA study at IPADE Mexico was a wonderful experience. The program was well-structured, with a balanced mix of lectures, site visits, and cultural activities that provided us with a comprehensive view of doing business in Mexico. The professors and guest speakers were knowledgeable and experienced in their respective fields, sharing practical insights and real-world examples that helped us understand the Mexican business landscape better. We learned both the good and challenges of Mexico to understand how businesses can navigate through.  The site visits to local businesses were fascinating, allowing us to observe how Mexican companies operate and understand their business strategies and challenges. The cultural activities were enjoyable and informative, allowing us to explore the beautiful city of Mexico City, try out the delicious local cuisine, and learn about Mexico's rich history and culture.

The most rewarding part of the trip was to be able to network and meet with new people from several countries in different fields. It was fruitful to learn from people in multiple industries to share experiences and stories.

Overall, the one-week MBA study at IPADE Mexico was an unforgettable experience. I gained valuable knowledge and insights into doing business in Mexico, made new friends and professional connections, and had an amazing time exploring Mexico City. I highly recommend this program to anyone interested in expanding their global business knowledge and cultural awareness.