Fernando VelardeJournal #1
We arrived in Santiago, Chile the last week of May. We had a very warm welcome by the entire team of Endeavor who really quickly made us feel at home. The team shared some interesting aspects of Santiago with us. We were particularly surprised by this marvelous city between the Andes and the south pacific. Once you get into Santiago, you can clearly identify its German and European influence that can be noticed, in the order and structure, throughout any service you take.
A few days later, we had the opportunity to get to know the entire Endeavor network at Santiago, Chile. We were amazed by how nice, enthusiastic, warm and smart the endeavor entrepreneurs were in every regard. In that meeting we met Mario Araya, the CEO of Kibernun, the company we are tasked to develop a project.
Kibernum is an IT services provider that generates work for more than 600 Chilean professionals with low economic resources. They have been growing very fast the last years, and now they are facing very demanding and important challenges in terms of future markets and growth perspective. Kibernum started as an IT outsourcer of people, but changes in the Chilean regulatory system forced the company to evolve into higher value added markets with a different value proposition. Contrary to the initial belief that the regulatory change may be the end of the company, it became the starting point for a new company with a stronger relationship with its clients and a better perspective for the years to come.
In this context, Endeavor is asked to provide guidance to strengthen the foundations of growth. As a result, we initially were asked to assist Kibernum, which focuses in the following aspects of the business: operational efficiency, improving brand awareness and organizational culture. Nevertheless, after two days in the company we noticed that the company needed a cross-function corporate strategy formula to design not only the vision of the company for the next five years, but the road map that will make it possible for Kibernum to achieve the goals the Board has set for the company.
After a spectacular meeting with the Board and top management, we received the green light for this new focus and reach for the project. We are now working on developing strategies that guarantee the accomplishment of the goals set by the Board as well as working with top manages. We hope to ensure the roll-out for each of the areas in an effort to establish the roadmap and landmarks for the next five years.
We, as a team, are very excited about this project, not only because it will allow us to practice all the things we have learned during business school, but to assist Endeavor and Kibernum to guarantee a stable job for more than 600 Chilean professionals.
Journal #2
This is the end of the sixth week in Santiago, Chile. During the past few weeks, we have developed the framework that will allow Kibernum achieve its long-standing goal which will guarantee the sustainability of the business model. Once we rolled out the roadmap for the next years, we realized that a big part of the small operational detail was not entirely covered and that it may jeopardize the execution of the business plan.
One of the most important pieces to take-away from this experience is the understanding of the gaps in the development of a start-up company. When we first defined the scope and approach of the project, we assumed that some of the basic process principles were totally covered – as they are in most big firms. In a small company, however, all the solutions and initiatives exposed must be extremely down-to-earth and covering all the possible aspects and implications.
As a result, we are redesigning the implementation plan so that it will wrap all the minor details that can put the business plan in danger. Out next steps are to execute the initiatives that will lead to the beginning of the new company.
Journal #3
After ten weeks as a summer associate for Endeavor, the EMBA internship experience is over. Beyond the fact that I have made tons of very good friends in Santiago, I am convinced that this experience gave me three important takeaways that will forge my personal and professional character.
First, after this experience in Santiago, Chile; I am absolutely convinced that in each part of the world there are unique mechanics of business and social entrepreneurship. Each of them has its own variables, uncertainties and challenges that make it difficult to strive in a rapidly changing world. Particularly in Chile, wealth distribution and income differences make up important aspects when it comes to analyzing quality of life and work-life balance issues.
Second, social enterprise challenges are vast. Particularly in Latin America, where there is a high entrepreneurial mind set, the willingness to launch an enterprise is extremely high and the needs that those endeavors can fulfill are also quite large. However, economic needs, most of the time, are the major constrain.
Third, I reaffirm that a little guidance with a lot of effort can create major impact in the development of social-entrepreneurial ventures. Even though they have the attitude, willingness and time; sometimes what they lack is some basic managerial skills or technical analysis for some key business areas— such as financing, operational efficiency and go-to-market strategies. As long as these entrepreneurs receive basic management guidance that can help impact their businesses, then all their communities will increase significantly.
During my 10 weeks with Endeavor, I was staffed at an IT services provider developing its business strategy that will allow him to not only stay in business, but also to give jobs to more than 500 IT professionals with low economic resources. After a first stage of devising and structuring the business plan, we created an implementation plan that will take approximately six months and will require a lot of effort from the top management team.
In a word, the summer internship experience has been awesome. It not only allowed me to broaden my perspective on business around the world, but also let me understand, on the field, the importance of social enterprise and what our role is in maintaining it for the years to come.
