Singapore, 4 May 2012 (Friday) – In an encouraging sign of growing interest in the Middle East markets, SMU will be sending its largest ever group of undergraduates to the Middle East on the bi-annual Business Study Mission (BSM) to the Middle East, which is in its fifth year. The delegation of 68 students will travel from May 7 to May 20, shuttling between United Arab Emirates, Qatar and Oman. At the close of the study mission, 28 students will embark on their 11-week internships in Middle Eastern companies as well as Singapore companies with business interests in the Gulf Cooperation Council (GCC) countries.
The large size of the student delegation indicates a growing interest to explore emerging markets , such as the Middle East , for business opportunities. The fervent passion towards the GCC region was underscored by the fact that the entire BSM was a student-run initiative. Interestingly, the logistical demands that come with a ground-breaking delegation size of 68 did not deter the undergraduates – every single one of them took ownership of the planning and execution of the programme. Sofia Moiz Tyebally, a second year business student said, “With the Middle East becoming increasingly significant on the global stage, it is no surprise that my classmates and I relish this opportunity to understand the intricacies of Arabian culture and more significantly, the importance of building relationships through our networking sessions with executives based in the Middle East.”
During this overseas field trip, the 68 SMU student participants from various degree programmes will be studying the rapidly changing business structures in the member-nations of the GCC. As the concluding component of the 14-week “Business Study Mission”, the trip to the Middle East comes after an intensive curriculum of company case studies, student projects and guest lectures. Additionally, t he 14-day itinerary, initiated by the SMU undergraduates themselves with facilitation from industry players and government agencies, includes meetings and networking dinners with government officials, diplomats, and the movers and shakers of the Middle Eastern business world. Feeling glad for the exposure BSM has given him, second year business student Pierre Peh finds the forthcoming BSM an excellent conclusion to a semester of fruitful learning. “BSM Middle East has been an enriching experience overall due to the multiple facets of learning opportunities provided. It is definitely a stepping stone in my pursuit to work in an oil company in the GCC region,” he said.
Official site visits include trips to established institutions such as the Qatar Chamber of Commerce and Industry, Abu Dhabi Council for Economic Development and Dubai Chamber of Commerce and Industry and commercial sites such as Lusail City and Capitala. Beyond the plethora of onsite activities planned, the SMU students will also be given the opportunity to interact with Singaporean entrepreneurs and business executives based in the member-nations of the Gulf Cooperation Council. At the same time, this BSM is also visiting some of the universities in the Middle East such as Sultan Qaboos University and Dubai Women College to foster ties with their counterparts.
To date, BSM Middle East has placed over 60 students in valuable internship positions in 17 GCC companies, and 13 Singapore companies with business interests in the GCC countries. This year, 28 undergraduates have secured similar internship opportunities – 10 will intern in the Middle East and 18 in Singapore.
One factor that encouraged the students to intern in the Middle East was the International Business Fellowship programme (iBF) by International Enterprises (IE) Singapore. SMU students were given a subsidy of their flight expenses and stipends under the programme. Among the recipients of such financial assistance are Zamir Hassan Chew, a second year accountancy undergraduate who has secured an internship with Morrison Menon in Dubai and Zachary Lim, a second year business student who will be working in Emirates Airlines this May.
A highly passionate individual, Zamir has always wanted to work in the Middle East and BSM Middle East had provided him with this valuable opportunity. Zamir said, “BSM Middle East has provided me with an excellent platform to pursue my passion in the emerging markets of the GCC region. With the support of iBF, I am determined to gain invaluable experience from my stint in Dubai.”
Filled with vigour, Zachary is also unable to contain his excitement. “My attachment with Emirate Airlines this summer is definitely a highlight of my undergraduate journey. I am confident that my lessons and cultural understanding from BSM Middle East will serve me well in my internship in Emirates Airlines,” he said.
The continued success of BSM Middle East has been made possible with the generous support of corporations Emirates National Oil Corporation (ENOC) and Etihad Airways. This year, SMU BSM Middle East participants have benefited from the subsidies generously given by ENOC. Likewise, financially needy students were supported by anonymous donors who have kindly offered to help fund their trip to the GCC region. Such support from both the public and private sector is definitely instrumental in helping to nurture SMU students into a generation of future business leaders knowledgeable about the developing markets of the GCC region.
Preparatory coursework for the trip
Participants of the Business Study Mission are required to attend a series of core lectures over 14 weeks. These lectures introduce the theoretical contexts and frameworks applicable to the Middle East and expedite their understanding of the factors behind the region's rapid development. Different speakers from various industries as well as government agencies are invited to conduct special guest lectures on the various aspects of doing business with and in the Middle East. The objective is to provide students with a more real and practical aspect to the course.
Topics covered during the lectures include international business trends, key trade models, business environment and making strategic business decisions in the Gulf region. As per the course requirement, students are required to submit two projects covering the various subject matters pertinent to that region. The first project would be to give an in-depth analysis into either country, looking specifically at one of the following four elements -social, economic, political or technological. The second project would be to study a company from Singapore which has established itself in the Middle East with some success. This is to give the undergraduates valuable insight on what is required to succeed in the Gulf Region. Students are required to approach a company of their choice, examine its strategy and methods, so as to provide an analysis and recommendations in a written report and presentation.
About the Business Study Mission
Using a country-specific study as its base, the ‘Business Study Mission' course offered in SMU examines the rapidly developing business environment and the available opportunities in a particular city or region. Particular emphasis is placed on the socio-political, cultural, legal environments, and the influence they exert on business practices. Introduced in 2002, SMU is the forerunner in Singapore to introduce such a course, typically to MBA students, at the undergraduate level.
Through case studies, student projects and guest lectures, the course aims to present students with real-life environmental influences and challenges that impact businesses in the city or region. The course culminates in a trip to the location itself usually the main city which is the subject of the study, where through a host of site visits, networking sessions, and presentations by prominent individuals from both private and public sectors, it aims to facilitate the development of a greater understanding of the city.
Participating students return with an enriched knowledge not just of its business developments and the lessons that can be drawn from them, but also of the rich culture and history of the country. Both of the above, too, will aid participating students in extending their personal networks to the region.
To date, over 800 SMU undergraduates have embarked on business study missions to countries such as Argentina, Bahrain, Bangalore, Chile, China, Germany, India, Qatar, Russia, Saudi Arabia, Scandinavia, South Korea, Spain, UAE, the USA and Vietnam.
About the International Business Fellowship Programme
The International Business Fellowship (iBF) Programme is an initiative by IE Singapore that supports overseas training in the key markets of Central Asia, China, India, Indonesia, Latin America, the Middle East, Russia and Vietnam.
The iBF Undergraduate Programme offers students from the National University of Singapore, the Nanyang Technological University and the Singapore Management University, immersion opportunities through student exchange stints and internships in the supported markets of Central Asia, China, India, Indonesia, Latin America, the Middle East, Russia or Vietnam.Under this programme, the cost of living allowance will be co-funded by IE Singapore and the university. Applicants of this programme must be Singapore citizens or Permanent Residents. Interested undergraduates can apply through your university.