November 26, 2024, by lizels
MBA Business Practice Week 2024
Business Practice week is an integral part of the Nottingham University Business School MBA and provides valuable opportunities to visit a selection of international, national, small medium enterprises, as well as a consulting community project with local not for profit organisations. It introduces key business strategies, practices, and challenges, enhancing students’ understanding of Strategic Management, Operations, People Management, Marketing, Finance, and Consulting.
One of this year’s MBA cohort, Krishnam Gupta, shared his experience of Business Practice Week 2024:
“During Business Practice Week, I had the privilege of exploring the operations, challenges, and innovative strategies of various institutions across the UK. This experience provided an in-depth look into different business sectors, from banking to brewing to trading, offering valuable insights into each industry’s unique dynamics.
Monday
The week began with preparatory work, a chance to dig into the industries and companies we would visit. It set the stage for engaging more deeply with each organisation and allowed us to ask informed questions during our visits.
Tuesday
Our journey began with a session at the Nottingham Building Society. We learned how a building society operates differently than a traditional bank, focusing more on community-driven practices. They walked us through their new branding strategies, emphasising customer trust and support as pillars of their approach. It was fascinating to see how they aim to stand out by prioritising mutual benefits over profit-driven motives.
In the afternoon, we visited Nottingham Contemporary, a stunning art gallery known for its modern exhibitions and vibrant history. Here, we discussed the business of running an art space in the UK—a challenging yet rewarding endeavour. Balancing artistic expression with financial viability requires careful planning, and it was interesting to see how the gallery’s curators strategically manage resources to bring contemporary art to the public.
Wednesday
Day two was an exciting change of pace as we dove into a consultancy challenge, collaborating with local UK firms to understand their business practices. Each team presented unique solutions to various challenges, and the peer presentations were a great learning experience. Our project, ‘The Field,’ focused on innovative strategies for local business development, and presenting our ideas to the group was both exhilarating and insightful. It was inspiring to witness so many creative solutions emerge from this session, showcasing the strength of teamwork and diverse perspectives.
Thursday
We toured Castle Rock Brewery to see first-hand the beer-making process. The brewery’s dedication to quality and local sourcing underscored the importance of community ties in the UK brewing business. Learning about the intricacies of brewing, from ingredient selection to fermentation, was fascinating, especially in a country where the industry holds such historical significance. In the afternoon, we had an enlightening session with Qusai Sarraf, CEO of IVIS Group, who shared his journey of driving innovation and entrepreneurship. His insights into cultivating a forward-thinking mindset and navigating the challenges of entrepreneurship were incredibly motivating, providing a perfect blend of inspiration and practical advice.
Friday
Our final day was spent in London, where we visited HSBC‘s Canary Wharf headquarters. Here, we learned about the latest banking trends, including the digital transformations and shifts toward customer-centric services that are reshaping the industry.
Later, at the London Stock Exchange, we explored sustainable practices that the LSEG is pioneering. Their commitment to environmental, social, and governance (ESG) standards is setting a new benchmark for businesses across sectors.
In the evening, I took a detour to Guildhall Art Gallery, a hidden gem filled with remarkable artworks. Following this, we wrapped up our week with an Alumni Networking Event at Browns Old Jewry. This lively event was a fantastic opportunity to connect with professionals from various industries and exchange ideas, rounding off an unforgettable week with meaningful connections and insights.
In just five days, this immersive experience broadened my understanding of diverse industries, each contributing uniquely to the UK economy. From learning the mechanics behind banking and brewing to gaining inspiration from business leaders, this week was an invaluable chapter in my journey toward a management career”.
Find out more about Nottingham University Business School MBA programmes.
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