IBUS 5150: Benefiting from Emerging Markets – Building through Frugal Innovations to Compete in a Global EnvironmentGraduate Global Enrichment in India
“This class was remarkable due to the incredible access to global company leaders. Of the 15 organizations we visited, we met the CEO, founder, or managing director of the region at over half the companies. Their perspective was invaluable on multiple accounts. They connected the cultural, business, political, and global nature of their companies in a remarkably articulate manner.” Josh Edgar, Part Time MBA, 2017 Participant
On this program, students will be exposed to concepts related to developing a global managerial mindset, with a particular focus on taking advantage of global product and process innovations. Frugal innovation is the term broadly used to describe of cost-effective product and service innovations that are devised to solve local problems in resource constrained markets. A variety of successful examples in firms like GE and Nissan highlight frugal product innovation as being a very powerful source of ideas for global new products and services. Products of frugal innovation, once proven locally, can be subsequently integrated into the broader R&D and product innovation processes within firms and become the base platforms for global products targeted at markets across the world. Similarly, there are significant opportunities to transform business processes globally by leveraging innovative capabilities for frugal process execution developed in emerging markets.
Students will have the opportunity to choose an industry or domain of focus in class sessions to prepare themselves to interact with firms and observe innovative processes on the ground in India. The goal of the class is to prepare students to learn from the innovative ways of working they observe in India and when back home in Minneapolis, present the potential to introduce new practices within local firms that can result in a fundamental shift in the mindset and practice of product innovation and business process transformation.
“To understand the scope of change happening in India, and how these lessons can be applied to the global business environment, the combination of cultural and business experiences was essential to paint an adequate picture that we can realize ideas from.” Brendan Longergan, 2018 Part Time MBA Participant
“The in-person experience gained far exceeds anything you could ever learn in a book or through Web-Ex communications. India is beautiful and complicated. We were able to experience first hand the complexities of the country where on one hand India is a world leader in areas of innovation and on the other a nation still facing corruption, extreme poverty, and basic educational challenges.” Rianna Avery, Part Time MBA, 2017 Participant
Delhi is the capitol of India. As the national seat of political power and a center of commerce and culture, Delhi has grown rapidly in recent decades to become a cosmopolitan city of nearly 22.2 million residents. With a relatively high personal income level, Delhi has India's largest retail industry. As a result, land prices are booming and Delhi is ranked the 7th most expensive office city in the world. In 2001, the manufacturing sector employed 1,440,000 workers while the number of industrial units was 129,000.
A demographically diverse city, Bangalore is the fastest growing major metropolis in India. The city is home to many of the most well-recognized colleges and research institutions in India and has become known as the Silicon Valley of India because of its position as the nation's leading IT exporter. Public sector heavy industries, software companies, aerospace, telecommunications and defense organization are also located in Bangalore.
Students will share a room with one or two classmates of their same gender. Because networking and community-building are key parts of the program, students will not have the option of a single room. Guests are not permitted during the program. Students are housed at a centrally located hotels in each city. Breakfast daily, a welcome dinner, and a closing dinner are provided.
- 4 graduate elective credits
- Grading is A-F basis
This program is open to up to 30 Carlson School graduate students in good academic standing with a minimum GPA of 3.0 at the time of application.
The application process is competitive, and space is limited. Meeting the minimum requirements does not guarantee acceptance.
U.S. citizens will need a valid passport to travel to India. If you already have a passport, you need to check the expiration date and confirm that it is more than seven months after the program ends. If you do not have a passport, or your passport needs to be renewed, you will need to apply for one immediately upon confirmation.
A visa is a document that proves that travel into a particular country has been approved by their governing body. U.S. citizens will need a visa to enter India for the 2 week program. It is the student's responsibility to obtain this visa electronically prior to the program's start dates. Non-U.S. passport holders should check with the Indian consulates regarding visa requirements and fees. A consulate is a foreign government's official place of residence and representation in a foreign country. While consulates provide passports, birth registration, and many other services, they also have consular sections which issue visas for foreign citizens to visit, study, and work in their country. If you carry a passport other than a U.S. passport and are required to carry a visa into India, you will be responsible for securing your visa; you will work closely with the Program Manager (Emily Sauey) to make sure you have any University-specific documentation that you need.
To apply, please visit the Apply page. Students will be charged a $50 application fee. The priority deadline is June 15th. Applications for programs that do not fill by the priority deadline will be accepted on a rolling basis until full. Applications will be reviewed and students will be informed of their status within 4 weeks of the priority deadline.
- Up to 30 Carlson School graduate students
Class sessions in Fall '19 Bterm: Fridays, 5:30 - 8:30pm
Class sessions prepare students for the international academic program by familiarizing them with the background and terminology of the course. There will be readings, assignments, and research during the Fall Semester in preparation for the overseas program. In addition, the final assignment will be due during Spring Semester after the program has ended. The coursework is not confined to the two-week overseas program. The academic load is strenuous and we encourage students to plan accordingly. Students will choose an industry or domain of focus in class sessions and be exposed to global R&D practices in large local firms, with the intent of seeking out real-life examples of Frugal Innovation while abroad.
To see a sample 2020 program schedule, click here. Please note - this is just a sample schedule, site visits and activities likely to change based on the interest of the cohort.
Students spend the first week in Delhi. The first day will include an orientation, city tour, and welcome dinner. The remaining time in Delhi will be spent meeting with Indian governmental leaders and business executives from industries such as network management, R&D consulting, and call center services like Polaris and Ameriprise.
The weekend in between students will travel to Agra to see the Taj Mahal as well as Jaipur where they will visit the Amber Fort.
Students go to Bangalore for the second week of the program. In Bangalore, an introductory city tour is arranged. The program continues to visit with business executives from companies like Epsilon and GE Innovation Center.
Throughout the 2 week program, students will interact with startups and innovators working on frugal innovation projects on the ground in India.
Students will present a Minnesota-based Corporate partner their findings and recommendations on innovations that were witnessed in India that may translate well to the partner's industry.
Cost Estimate (Summary)
Fees are based on estimates and may change to international economic factors. This information applies to 2019-2020 programs.
*Calculated based on the estimated 2019-2020 PTMBA resident tuition rate. Students enrolled in another degree program will be charged the tuition rate for four credits associated with their degree program. Please see One Stop for more information about tuition and fees or contact us with questions.
|2019-2020 Estimated Tuition for Four PTMBA Academic Credits (not including collegiate, graduate student assembly, or transportation fees)*||$6,140|
|Program Fee (includes program activities, course materials, hotel accommodations and breakfasts during the program, two group meals, and international health insurance)||$2,900|
|International Round Trip Airfare between Minneapolis and India||$1,800|
|Passport, Visa, and Immunization expenses||$300|
|Daily Living Expenses (includes incidentals, local transportation, and other expenses not covered by the program fee)||$250|
|Meals not covered in the program fee (most lunches and dinners)||$250|