Massachusetts Governor, Deval Patrick, attended the fourth annual Emerging Markets Symposium, held July 19th, 2012. He said that education, innovation and infrastructure drive the development of growing economies. Massachusetts, he added, has these traits in surplus, making the state an ideal business partner. “There’s a great opportunity, it seems to me, in this globalized economy for Massachusetts in particular,” Patrick told business and academic leaders at the start of Northeastern’s fourth annual Emerging Markets Symposium, which was sponsored by the university’s Center for Emerging Markets. “This globalized economy is all about an explosion of knowledge, and we have that in spades.”
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On April 5, 2012, Dr. Harsha Vardhana Singh, Deputy Directory of the World Trade Organization visited Northeastern University as part of the Center for Emerging Markets' Distinguished Speaker Series. Dr. Singh spoke to a room packed with more than 120 students about the future of the WTO and the multilateral trading system in a changing world. His remarks were followed by a lively exchange with the audience.
Dr. Singh spoke to students about the future contributions of developing countries to global growth and output and the need to rely on the multilateral trading system as a result of new centers of economic importance emerging throughout the world. Dr. Singh went on to discuss the significance of enhanced interconnections between business and countries and the role the WTO has in addressing the global challenges that arise as a result of this interconnection and emerging markets.
The Provost Director thanked Dr. Singh and presented him with a signed copy of Professor Sonia Rolland's new book, Development at the WTO (Oxford, 2012).
Last year, NU introduced a new interdisciplinary minor in Emerging Markets. The minor consists of a required course, "Emerging Markets in the Global Economy," a summer field service program, and two qualifying courses offered by Arts and Sciences.
Prof. Ed McDonough, who teaches the required course, notes that students hail from several emerging economices, including Brazil, China, India, Venezuela, Russia and South Africa. It raises fundamental questions about the role of emerging economies, how developed-country firms can compete in those markets, and the future prospects for these countries.
The first batch of students went on the field service component to Brazil in the summer of 2012, under the guidance of Prof. Ravi Sarathy and Colleagues at EAESP-FGV, Sao Paulo. After an introductory course on Doing Business in Brazil, they proceeded to do field research in Brazilian companies. Two NU students plan to spend a full year studying EAESP-FGV and doing coops with Brazilian firms.
At the same time, NU's highly successful BS in International Business program now also offers language tracks in Chinese and Portuguese, and gives students the option to study abroad at two leading schools each in China and Hong Kong, two schools in Mexico, and a school in Brazil.
On July 21, 2011, Northeastern's Center for Emerging Markets held its third annual Emerging Markets Symposium. See Conference Photos HereRead Speaker Bios Here
Sherman spoke at the 2011 Wall Street China Forum held in New York City on May 6, 2011. He participated in a panel on “US-listed Chinese Firms.” Professor Sherman, who is a member of CBA’s Accounting Department, advices Chinese companies looking to list in US stock exchanges and serves on the board of two such companies listed on NASDAQ. He is an expert on corporate governance and spent 2004-05 as an Academic Fellow in Corporate Finance at the US Securities and Exchange Commission,working on current shareholder reporting issues for US and International businesses.
The University of Ghana Business School’s EMBA cohort visited Northeastern’s College of Business Administration (CBA) on February 17, 2011 to gain insights into the CBA’s unique methods and practice of education. Professor William Tiga Tita, CEM faculty associate, and Professor Kwamina Panford organized the exchange and hosted the group. Professor Gloria Barczak of the Marketing Group welcomed the EMBA cohort and provided an overview of CBA graduate programs. The group then visited area companies and universities. Professor Ravi Ramamurti, Center for Emerging Markets Director, was the luncheon guest speaker and spoke on the changing role of emerging markets in the global economy.
Professor Ravi Ramamurti was the lead speaker in the first panel of The Economist’s India Business Summit held in Paris on January 25, 2011. He spoke about the competitive advantages of Indian firms and what they hope to gain through their international acquisitions. Other speakers at the event, hosted by The Economist’s European business editor Edward Carr, included the Indian ambassador to France, the Indian CEOs of Accor, Ernst & Young, Honeywell, HSBC, Novartis, and Schneider Electric, and senior executives of Indian multinationals, such as Tata Consultancy Services, Wipro, and Suzlon Energy.
Professor Ramamurti is also a Principal Advisor to Economist Education, a sister organization of The Economist Group, on the topic of “Competing to Win in Emerging Markets.”
Professor Ravi Ramamurti participated in the panel on “Seeding the Next SiliconValley,” and spoke about the disruptive innovations coming out of emerging markets. Other speakers in the Innovation summit included the founders of Twitter and SpaceX, the Chief Economist at Google, the President of MIT, the Chief Technology Officer to President Obama, Professor Chesbrough of UCBerkeley, Robert Reich, and senior executives of US multinational firms.
On December 17, 2010 the AIM International Business Council presented a seminar on doing business in emerging markets. The event was co-sponsored by the Center for Emerging Markets and the Massachusetts Export Center. The seminar was part during an Export Expo organized by the Massachusetts Export Center, part of the Massachusetts Small Business Development Network.
The seminar included a panel discussion moderated by Distinguished Professor Ravi Ramamurti, Northeastern University College of Business Administration and Director, Center for Emerging Markets. The panelists were David Callahan, VP Business Development, US-Saudi Arabian Business Council; Murat Lutem, Consul General of Turkey to Boston and Fellow, Weatherhead Center for International Affairs, Harvard; and Ekene Ofodile, International Sales Operations Manager, New Balance Athletic Shoe. The panel discussion focused on three developing markets- China, Saudi Arabia and Turkey-all of which are part of President Obama’s National Export Initiative. Themes included were: opportunities for US companies, understanding emerging markets and a climate of rapid change.
On October 30, 2010, Northeastern hosted the ForSE 2010: Forum for Social Entrepreneurs. The forum, which geared towards fostering discussions of new technology and business ideas, as well as using expertise in business to address social and environmental problems, brought together over 200 scholars, students, social innovators, and investors.In addition to talking about pressing social needs, the work of social entrepreneurs, as well as health, education and technology, the forum also highlighted the work of Northeastern’s Social Enterprise Institute (SEI), which is founded and directed by Professor Dennis Shaughnessy, and is the only such institute in the Boston area. Through SEI, Northeastern students have visited the Dominican Republic, Belize and South Africa, where they to assessed local micro-finance programs and interacted with local entrepreneurs. Joseph E. Aoun praised the institute, stating: “What the students are doing is powerful and impact-ful.” The conference was sponsored by SEI, Net Impact, and TiE Boston, the local chapter of a global non-profit organization promoting entrepreneurship.
The 2010 Emerging Markets Symposium brings together academics, practitioners and business leaders in order to understand how to better leverage emerging economies including India, China, Brazil, Russia and Mexico. Executives shared their insights about working in these markets, discussed the opportunities and challenges of working in, and with companies in, these markets, in 2010 and beyond.
Photo: opening panel
See Conference Photos Here
CEM Director Ravi Ramamurti was the Keynote Speaker at a gathering of Brazilian CEOs on March 9, 2010. His topic was “India’s New Global Giants.” The chief guest was Brazil’s Vice President Jose Alencar Gomes da Silva, who participated in the ensuing discussions. The event was organized by the Chairman of Sao Paulo’s World Trade Center, Mr Ozires Silva. Invited guests included about 60 CEOs of Brazilian companies, including Embratel and Embraer, and multinationals, such as Volkswagen and HSBC. Photo: Brazil's Vice President Jose Alencar with Prof. Ramamurti and Mr. Ozires Silva
In February 2010, the Center for Emerging Markets (CEM) and the India China America Institute (ICA) sponsored the first seminar of a six-part webinar series based on the book, Emerging Multinationals in Emerging Markets (Cambridge University Press, 2009). The series will explore many of the key themes and case studies presented in the book, including the reasons why many firms internationalized so aggressively in the last decade, the strategies they employed to build their global presence, and the implications internationalization has on Western firms and business theory in general. For more details please see CEM Events.
In August 2009, the CEM and the CBA’s Executive Education office co-sponsored a summit for Chief Human Resource Officers on “Innovations in Executive Education for Emerging Markets” at Emory University. The lead organizers were the India-China-American (ICA) Institute and Emory University’s Center for Executive Education. Eight participants from Brown Brothers Harriman, EMC, Hasbro, IBM, Liberty Mutual, and State Street attended as guests of the CEM, joining a total of nearly 100 participants in a terrific program that featured Jim Bolt, Marshall Goldsmith, Jeanne Meister, Professor Jagdish Sheth, and CEM Director Ravi Ramamurti. A follow-up summit may be held at Northeastern University in the coming year.
On June 4, 2009, the Center for Emerging Markets (CEM) hosted its first corporate outreach event with the help of CBA’s Executive Education office and its director, Beth Cliff. The symposium, which was hosted by CEM Director Ravi Ramamurti, included representatives from several major companies: Liberty Mutual International, Thermo Fisher Scientific, Lukas Ruecker, and Staples. The event focused on helping businesses expand into emerging markets. The panelists: Joe Hamilton, executive vice president and chief strategy and business-development officer at Liberty Mutual International; Shiraz Ladiwala, vice president and general manager at Thermo Fisher Scientific, Asia-Pacific; and Lukas Ruecker, vice president of emerging markets at Staples- discussed the various challenges and opportunities that their companies faced when expanding overseas. See the event photos here. Photo (Craig Bailey): Audience Members Listen to Speaker
In 2009, IBM partnered with Northeastern University’s College of Business Administration to create an online degree program designed to provide IBM employees based in Mumbai, Bangalore and New Delhi with an opportunity to earn an MBA. The program, which was developed in part by Peter Lynt, Vice- President for Global Process Delivery at IBM and Thomas Moore, CBA Dean, is aimed at not only attracting and keeping talented managers, but it is also geared toward improving the quality and global competitiveness of India’s IBM employees. The Online MBA program has also gone over well with IBM employees, as it provides busy professionals with a chance to enhance their skills and qualifications without interrupting their careers. According to Mike Zack, Professor of Information, Operations and Analysis and Executive Faculty Director of Online Learning, the IBM India Online MBA program is a “natural extension of the Online MBA program the school launched in 2006” (as quoted in FT.com).
The CBA’s office for Executive Education and its Director, Beth Cliff, have partnered with CEM on many initiatives. Among them were the “Emerging Markets Update” organized on campus (June 2009) and the HR Summit at Emory University in Atlanta (August 2009). CEM affiliated faculty have also taught in executive education programs organized by Beth Cliff at companies like EMC Corporation (including one scheduled for Singapore in May 2010), Thermo Fisher, and the SK Group (Korea). They have also lectured to visiting executive MBA students visiting NU from Moscow State University (Russia), ISCAE (Morocco), Nirma University (India) and the University of Ghana. Beth Cliff also played an instrumental role in building a relationship with the Associated Industries of Massachusetts (International Business Council) in which CEM faculty participated as moderators for panels on doing business in various emerging markets. See more details on many of these activities in the newsletter.
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