MSIE Participants: Success Today Does Not Guarantee Success Tomorrow

Conclusions, interesting meetings, solution of case studies, work on projects, and self-teaching: a training module of the MS in Innovation and Entrepreneurship (MSIE) program was held July 15-19.

In July program participants studied longer and harder than usual. They primarily focused their efforts on the task of the course "The Art of Victory" by Adrian Slywotzky. They studied the sources of success and unaccounted strategic vectors of successful businessmen from the United States: John Rockefeller, Andrew Carnegie, and Henry Ford. In conclusion, they were convinced that “success today does not guarantee success tomorrow.”

The module began and ended with the course “Strategic Decision Making” by Yaroslav Prytula, an expert on international economic analysis and finances. The participants reviewed the different ways of changing the game of business using game theory, and implemented their knowledge working on solutions for a case study from the company Market Universal and the chain of pharmacies DS. The participants presented their proposals to the Expert Council of Universal Market, which included: Oleh Nykulyshyn, CEO; Lydia Domina, head of DS; Liubov Dub, head of the marketing department; and Natalia Buchko, head of projects and programs.

As part of the module, participants reviewed the material from the course “Finances.” Together with Mykhailo Salo, chief financial officer of the Lviv Business School, they discussed the sources of funding a business. Mykailo Salo made ​​a pleasant surprise for the participants – he organized a meeting with Roman Pylypiv, a representative of the European Bank for Reconstruction and Development. The guest told the audience about the features of giving grants to Ukrainian businesses. As part of the same course there was a discussion on budgeting your own business with Lubomyr Tarnovsky, CFO of UCU, as well as a discussion on personal finances and work with banks with Taras Khoma, a member of the supervisory board of the bank Lviv.

In addition to sessions with teachers, participants practiced how to teach each other in the project “Teach and Learn.” Svitlana Kolomiyets, a lawyer and MSIE participant, told innovators about copyright and give personal advice to those who have already started their own business projects.

Every day during the module, participants discussed books that they read from a list of literature for the course “Business Communication” by Yevhen Hlibovytsky, an expert on long-term strategies.

In the last session of the course “Project Management,” Serhiy Hvozdov, professor of operations management, recommended the participants to determine the main resource for their project and build a plan around it.

The innovators also expanded their horizons by learning about Chinese culture. Serhiy Lesniak, director of RR Commodities (Shanghai), guest at LvBS, described the cultural and business world in China.

The module was busy and productive. In September, the participants will meet in Kyiv for the final training module of MS in Innovations and Entrepreneurship.

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