As summer fades and autumn settles in, I – along with the rest of the IMD MBA cohort – embarked on another discovery trip to kick off the fall semester. Half of the class, myself included, ventured to Argentina, to learn how people, entities, and companies survive and thrive in a highly volatile environment. I had many expectations and preconceived notions, but my time in Argentina turned out to be a delightfully surprising and eye-opening experience, challenging many of the assumptions I held.
Take, for instance, our group project in Buenos Aires. We set out to explore how international pharmaceutical companies manage volatilities in the country. Before arriving, we assumed that COVID-19 was the primary cause – or at least a major aggravator. However, after interviewing five professionals – including the CFO of Bayer Cono Sur and the Consumer Activation Manager at MSD – we discovered that, while COVID-19 did play a role, inflation and currency devaluation were far more significant factors. These two issues continued to surface as the root causes of volatility throughout the week.
Over the next 10 days, we visited a diverse array of companies, from local businesses to global giants like Globant, the PwC Acceleration Center, and Moody’s Local. Through these visits, we gained insights into how companies adapt to Argentina’s volatile environment. We learned that optimism, resilience, and creativity are essential qualities for navigating the challenges.
One particularly impactful visit was to Arcos Dorados, the world’s largest independent McDonald’s franchisee, operating in Barrio 31, one of the poorest neighborhoods in Buenos Aires. There, we witnessed how a restaurant can influence and synchronize with the local community, becoming an integral part of it. Walking through the neighborhood, I sensed a tight-knit community with strong bonds among its people. It became clear that community is a central aspect of Argentinian culture.
In our conversations with many Argentinians, I noticed that the same characteristics helping companies navigate volatility – optimism, resilience, and creativity – were also evident in the people themselves. More than just being accustomed to volatility as their normal, they were humorous and optimistic, open to conversation and sharing, and incredibly resilient. They devised creative ways to cope with their ever-changing environment and took pride in their adaptability. I found myself in awe and eager to learn from their approach to life.
On the final day of the trip, we experienced the hospitality of the family running Ledesma, an Argentinian agro-industrial company with a 115-year history. At their expansive family ranch, we enjoyed an authentic asado, rode horses, and observed the endangered animals the family fight to protect as part of their commitment to giving back to society. Through this experience, I felt the sense of noblesse oblige – the family’s recognition of their responsibility to use their earnings to benefit the society in which they operate.
Throughout the trip, I witnessed both the highs and lows of Buenos Aires and learned how people and companies at the peak of volatility navigate through uncertainty and thrive. I hope to internalize these lessons to develop my leadership skills and equip myself to navigate future uncertainties. I’m grateful to IMD for gifting me such an eye-opening experience and look forward to what lies ahead in the remaining seasons of my IMD MBA journey.
