CEMS Club Budapest Journal / 2012 Spring by Cems Club Budapest

Contents Introductions

3 4 6

A word from the Editors Presidential welcome Developing project teams Initiatives for rocking the fall term

Features

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Pioneers Hungarian CEMSies discovering the world This is what we have been up to... Memorable events in spring A look back at ‘CEMS V4 Conference 2012 This is how we saw the first regional conference in Budapest Giving a new look to Mozgolóda Óvoda Running to help in 2011

Interviews

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Working at McKinsey: Julia Szilvia Stark „Success, however, for me means enabling other people to succeed.” Career exploration: András Bencsik „I am a team player, but not the suit up type”

Tips n’ tricks

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Tips when applying for the Business Projects Buda Castle, Széchenyi Bath Exchange students going further the usual landmarks

FOREWORD A word from the Editors After long months of silence the CEMS Club Budapest Journal is out again. An exciting and busy semester is behind us... While we are already at the Lake Balaton in our minds we are reorganizing the communications strategy of the Club. This newsletter is just a first outcome of our work: the complete redesign is to be expected in the autumn term. Indeed, who would have expected so many events before our official CEMS year starts. From elegant dinners to volunteer event, useful workshops and not to forget the social outings we have gained a better understanding about the CEMS spirit. With this newsletter, the Editorial Team wants to share the latest news and events in Budapest, while focusing on all the stakeholders of the CEMS alliance. Among the main topics covered in this newsletter you will find many new initiatives that were started during last year. We are very excited to see these grow in the coming months and have high hopes of getting them spread on a global level. These initiatives have the possibility to plant some seeds that, over the next year, might prosper into interesting projects. Enjoy the newsletter and look out for opportunities to keep your CEMS experience up this summer. Looking for suggestions? Why not connect with fellow CEMSies doing their internship in the same company or city as you? Or take a trip with the Alumni Association to a nice and sunny destination! Let’s make the most of the CEMS network! Editors:

Dóra Bálint

Anna Mátyus

Péter Oláh

Gábor Trefán

PRESIDENTIAL Dear Reader, In the following page, I would like to share with you my views and experiences regarding the spring semester of 2012, which was a very eventful one for the CEMS Club Budapest. The first big event of the year was the Winter Camp in Ceglédfürdő, where overall more than 50 CEMS students and alumni participated. The majority of them came from the 2012/2013 class, which - in our opinion - is a special one in terms of activity, diversity and potential. Then, the rotation dinner gave the selected students the opportunity to meet 3 corporate partners at an extraordinary venue: Déryné Bisztró. As spring came the finishing touches kept us busy organizing the CEMS V4 Conference, the first regional CEMS event held in Budapest. We have received positive feedback from the 52 Hungarian and international participants and hopefully this event could add to the reputation of CC Budapest within the CEMS community as well. Without taking time to lay back we held a charity event. During the Volunteer Day we repainted the kindergarten equipment working together on the side of the local community. Before chilling at Lake Balaton’s shores CEMSies gathered for the Alumni Mixer. When we were applying for the presidency of 2012, we were aware of the fact that 2012 would be an extraordinary year for CEMS Club Budapest. However we were confidently looking forward to the challenges, as we formed a relatively big team, most of us having already worked together before. Sára Bihari (Social affairs), Anna Mátyus (SB representative), György Somogyi (Corporate relations), Zoltán Szoleczki (Alumni relations) and myself made the CEMS Club Board for the spring semester. We were lucky to receive well-structured information at the beginning of the year from the former board, and they are still supporting our work with their advice and experience. Still, we could not manage organizing all these events without the contribution of other CEMS students, especially during the V4 Conference.

WELCOME Our work doesn’t stop here, our main aim for the fall semester is to further strengthen the CEMS community, our corporate relations, increase the number of new applicants, and finally, prepare the next board for the takeover. We are going to work with new members in autumn: Noémi Pallos and Éva Varga will be responsible for Social Affairs and CSR. Thanks to the enthusiasm of the new CEMS class, 4 project teams were formed; namely Communication & PR, CSR, Promotion & Recruiting and Charity Run organizing team. What else can I say? My first semester as a president was an exceptional experience for me. It was full of new situations and challenges. We could handle most of them well, thanks to the support of many helpful people from the CEMS community. Thank you for that. Keep up the CEMS spirit! And most importantly have a great summer!

LCOME Tamás Sváb, President, 2012

PROJECTS Developing Project teams Communication and PR team

“What do you know about the CEMS MIM programme? Do you know the CEMS Club Budapest and its events?” The aim of the Communication and PR team is to give overall responses to the questions above by our integrated communication campaign. Our plan for the autumn semester is mainly based on online communication and consists of three pillars: homepage, facebook and a trimestrial journal.

PRO

A total restructure of the homepage of CEMS Club Budapest is in progress. We would like to constantly add content to reflect the activity of the Club. It would catch the attention of the incoming exchange students and would also attract newcomers from our home university, Corvinus. We believe that we can show our CEMS spirit by keeping you up to date about our activities and social events. Facebook site would be the place where the community could share their comments about the news and events of CEMS Club Budapest. We hope that you’ll enjoy reading the Journal as a review of each semester. Promotion and Recruitment team CEMS emphasizes the rookie recruitment in order to meet the best matches for the MIM programme. The new members should not only have definite ideas about their future education, but should also be open to new people, cultures and experiences while they are putting effort into a close cooperation between the other fellow members. The team consists of the President of the CEMS Club Budapest and some newly accepted participants. Our aim is to increase awareness of the programme. One of our many programs will be held in June. A great opportunity was given to the club organizing a 3-day-long Sport Event during the Year Closing Festival of the Corvinus University of Budapest. By the beginning of the new semester info days, Summer Camps, Charity events are organized to inform the new candidates why and how to apply.

CSR team The CEMS MIM encourages social responsibility actively - just take a look at the CEMS Global Values Statement on cems.org - and we, CEMSies share also the aim to become responsible leaders, who act ethically. In 2011 the CEMS Club Budapest created a dedicated CSR team in order to encourage CEMSies how to give a helping hand as students and on the long-term perspective become committed to act ethically, sustainably and responsibly. The team consists of the Vice President for Social Activities and engaged CEMS MIM students from both the 1st and 2nd year. Our aim is to let the CEMSies create awareness of responsibility and business ethics, enable CEMSies to help NGOs with their management, marketing knowledge.

JECTS

So far the CSR team helped with the organization of the Charity run by setting up and keeping contact with the Foundation of Children Suffering from Leukemia and Cancer, moreover in the spring the first CEMS volunteer day took place. This year the target of the CSR Team is to focus on projects, where we can leverage our professional knowledge. We know how to gain efficiency in different organizations, therefore we would like to help foundations and other social responsible organization to be more efficient on their operational level. This way they can focus on their core activity, helping society.

„I joined the CSR team because ever since high school I have been involved in doing volunteer work. I find it useful, rewarding and sometimes challenging, which also makes it worth the while. Personally, I am interested in the development of CSR and believe that it will gain more importance in the future. I hope that with the CSR team we can use what we have studied of management in order to work for the greater good of society.” Anikó Kraft – Corvinus University of Budapest

If you got interested you are welcome to join, we are always looking for helping hands and new initiatives, just contact Noémi Pallos (noemipallos@gmail.com)!

Charity Run organizing team On a cold Saturday in November 2011 the first CEMS Charity Run took place, whereby 29 CEMS students, alumnus and corporate partners ran in order to collect donations for Children Suffering from Leukemia and Cancer. The organizing team has once again started working on continuing the concept and in the fall of 2012 the initiative for creating awareness and raising funds for a specified Hungarian NGO will return… The team consists of the Vice President for Corporate Relations and Social Activities, moreover enthusiastic 1st year CEMS students joined the group for creating a successful event. Our main aim is to be active, increase the awareness of a specified cause and foundation among the Hungarian CEMS Community and create a tangible impact through the donations raised at the event from both Corporate Partners and CEMS Students.

Stay tuned, and look for more specified information in your inbox by the end of summer and start your warm up for 5-10kms in September!

"For me the CEMS Charity Run means ensuring that the chosen organization gets the help they need. With our contribution we can draw the attention of the society to a crucial issue, such as children suffering from cancer. Looking at the initiative from another perspective, it enables us to help by keeping ourselves healthy, staying fit and doing sports together." Éva Vica Varga - Corvinus University of Budapest

PIONEERS Pioneers of the CEMS Club Budapest By Péter Oláh

It wasn’t until 2008 that the first non-European business schools became members of the CEMS alliance. Ever since the globalisation strategy implemented in 2008, the number of eligible institutions has increased significantly. The latest announcement was the confirmation of Hong Kong University of Science and Technology which is still to be ratified. Nevertheless the two most recent additions in China and in Japan are free to discover in the 2012/13 semester. Fortunately Budapest CEMS Club’s freshly accepted students have the kind of adventurous spirit it requires to seize the opportunity and be the pioneers of Corvinus. Furthermore it doesn’t take any less courage to travel to São Paulo either which even though has been available since 2009/10 was not so frequented by our CEMSies. In the following section we talked to Dóra Páles (Tsinghua University School of Economics & Management), Ágota Pfenning (Keio University) and Dávid Kutasi (Escola de Administração de Empresas de São Paulo-FGV – 2012 spring smester*) about the changes.

Could you please tell us about yourself and the reasons for choosing exchange university? What are the prominent characteristics of your school that makes it worth going so far from home? DP: I’m a finance major. In the past years I’ve been trying to learn more about how life is lived in different countries and I’m glad I have been able to discover some parts of the world in a more profound way. The journey has started when I spent a year in Germany in the framework of a high school exchange program. A couple of years after that I studied

in Antwerp, Belgium (this was an Erasmus scholarship). Most recently I studied at a university in Georgia, US as a Rotary scholar. Originally I was shooting for Singapore and Japan but when I was filling out the online application I saw China. I was like ‘Wow, that could be interesting!’ so I added Tsinghua, which seemed to be awesome at first glance. It is well known for finance and economics and is always ranked as the first or the second best university in mainland China. Many outstanding scholars, most of the active Chinese

statesmen and politicians graduated there. ÁP: I have had opportunities to spend semesters in Europe during high school as well as during university. That is why I intended to apply for a CEMS host university outside of Europe. And why even Japan? Actually, I have a friend there, and I believe I could not meet with her otherwise. Keio University is a very well-known private university in Japan. It offers me a unique opportunity to gain one of the world’s most extensive academic and practical backgrounds in Management. Although I am an Accounting master student, I am aiming to attend Media Design courses that I could not study at home. DK: At first I didn’t even think of FGV. I spent my first semester in Sydney. Only later came the notification that people can apply for the residual Brazilian and Canadian places for the spring semester (spending two semesters abroad is called Tri-national Track) and I thought that it would probably be a great adventure to spend some months in South America as well. I don’t think that they would teach finance, marketing or strategy in a better way than as they do at Corvinus. And by that I don’t mean

that CUB is the best university, but the curriculum is sophisticated and the same books are used at most of the places. It’s rather the country and its culture is what’s interesting and can be taken as a reason to go. So as a finance student the courses relating to my studies weren’t so serious to me. Nevertheless I took two interesting courses: Cross Cultural Management and Doing Business in & with BRICS countries.

Since there is no information provided by preceding fellow CEMS students, how did you manage to arrange everything? Is there anything peculiar that overseas students might encounter during the organization of the travel? DP: The largest issue I faced so far is that at Tsinghua there are only 5 courses available for CEMSies to choose from and none of these courses is slightly related to finance. I submitted a petition for not being able to take a mandatory course. Since there are no finance related courses to fill in for the mandatory course-and I would need three of them- at this moment I’m not totally positive if I am able to go at all. As soon as I get an approval I will buy my plane ticket. In order to visit China and to study there you need a visa. I’m still waiting for the application package

of the university to be able to start the visa process (communication with the school is just sooooo sloooow, I guess we just need to be patient and give them some time to figure things out). Since it is not easy to get official answers, a FB group was created for discussion, this is a tremendous help. So at least I don’t feel completely alone. And I know I need some shots: vaccination against Hepatitis A, B, Typhoid fever and also against Cholera is highly recommended. ÁP: First, I started gaining information about Japan with reading blogs written by Hungarian housewives living in Japan. Then I received some contacts to foreign CEMSies attending Keio. I could also ask questions from the official CEMS Office at Keio. A recent piece of news is that the CEMS Club Tokyo was founded by 7 non-Japanese students  who are open to answer questions on FB. The visa procedure takes 2-3 weeks only before the journey. But it is very important to arrange a health insurance since the Japanese health care system is quite expensive.

effect on me. Moreover the Brazilian coordinator seemed to be very helpful as she always answered all my questions. She also assisted me in finding accommodation (there are no official student dorms in SP). One needs a visa to stay for such a long time in Brazil. In the city of Sao Paulo you don’t need vaccination, and I myself haven’t got any. However those who travelled to the rainforest have got several inoculations. You have to register at the Brazilian police department after arrival. In my case this prolonged procedure which also involved the scanning of all my fingerprints, took two days because when it was my turn at 3 pm they just finished working for that day.

All the countries you are travelling to are completely different culturally. What do you expect to be the biggest challenges both from the social and academic aspect? DP: My biggest fears are how I’m going to deal with my food allergies, and how I’m going to survive with basically no Chinese knowledge. The language might not be a problem on campus but outside of Beijing it will be more challenging to make myself understood by the locals. I have started to learn Chinese right after I found out about the results and will continue learning over the summer.

ONEERS DK: Actually one previous CEMS student have already been there so I got in touch with him. But because of the fact that I did not know much about the place, it had a bigger

About academics, those 5 courses that are offered do not seem to be hard to complete (International Growth Strategy; Strategic Alliance; Technology Strategy; Consumer Behavior; Personnel Selection) I’m disappointed there are no more courses to choose from, I secretly hope they will add more.

university students gladly speak and spend time with foreigners. The nightlife is unbelievable! In the origin of Michel Teló’s hit song “Nosza-Nosza” - where the Brazilian ladies are trying to get a European husband for themselves - the parties with limitless consumption usually last till dawn.

ÁP: I suppose first of all my biggest challenges will derive from my poor Japanese language knowledge. Although I have been learning Japanese for 2 months, I will definitely get in trouble while trying to make out the underground map, or recognize the milk in the stores or just pick one particular type of rice from hundreds.

The population of Bejing, Tokio and São Paulo range from 13 to 22 millions of people which is as a matter of fact more than entire Hungary. What is it like to be an exchange student there?

I find Japanese people a little contradictory. On the one hand, they are a very respectful nation, the language is slightly different for men and women, and there are numerous expressions that serve to keep enough distance. You cannot say just “you”, but always say the first name + ‘san’. On the other hand, they are living their personal lives in front of the public, girls make up on trains, where boys read porn mangas.

China is said to be super safe. I’m more concerned about smog though.

DK: Safety in general is completely different than in Europe which makes a big difference and it’s hard to get used to it. In spite of this the people are very friendly; the

DP: I can’t wait to find this out myself. I’m planning to get a room in the dorms; rent (or buy) a bike.

ÁP: As for the accommodation, I hope I can stay in a dormitory of Keio University during the exchange semester which would be much less expensive than renting a room. I only have one concern about the accommodation, namely there is no central heating, so I hope my air conditioning will also be able to warm up my room in the minuses of wintertime. In contrast, the public transport will mean a bigger problem with all the Japanese signs and an incredible mass of people. I am also quite afraid of the

earthquakes, since I am obviously not very used to them.

tours. The mountains are said to be gorgeous especially over the fall.

DK: Anywhere you watch you see buildings which is unusual at first. Because of the high population the streets provide home to a lot of people. Although the police is trying to maintain security because of the upcoming football world championships it could still improve. The locals say the situation is a lot better than previously.

I have no strict plan, I like to play it by ear. I’m really excited and can’t wait to get started.

Though I did not have any medical problems, the best hospital of South America is near the university where they treated Hugo Chavez and other regional celebrities. So there would have been help if I had needed it.

Given that one can rarely travel to the other side of the world it is reasonable to discover as much as you can in the country/continent. What are your plans regarding this matter? DP: I definitely want to travel. I have been longing to see Guìlín and that skywalk in the Tianmen Mountain, Zhangjiajie. I know for sure I’ll discover Beijing, the Great Wall, Xi An - which is one of the oldest cities in China, Tian Jin and I’m planning to do some hiking

ÁP: If I had to pick three attractions of Japan to visit, the first one would be a sumo contest, the second one Kyoto with the secrets of geishas and the third one the setsubun (Japanese carnival at the end of the winter season) when according to the tradition, you should expel the devil with throwing soybeans in shrines as well as at your home. DK: Actually São Paulo is not the biggest attraction in South America. Thus we tried to get the most out of the continent with the other exchange students. The Carnival in Rio is amazing, and it’s “just” 6 hours away. Regarding its natural characteristics Rio de Janeiro is the most beautiful city I’ve ever seen. Besides I went to Argentina and Uruguay. These countries are fairly close and reminded me a lot more of Europe than São Paulo. Also the Argentinean steak is an unforgettable culinary experience. Furthermore the Iguaçu Falls is a must see – it is a 2,7 km wide waterfall on the border of Argentina and Brazil.

SPRING EVENTS This is what we have been up to... Winter Camp | 9-11 March, Cegléd We have kicked off this semester with an intensive and memorable weekend at Cegléd. The traditional Winter Camp witnessed a record number of participants (almost 50) thanks to the committed newly accepted students and a bonded group of Alumni. What have you missed out on? Career development at P&G, a real pubquiz afternoon, table soccer championship, 2 awesome parties, a fröccs-relay, ice-breaking social activities with a professional trainer and lots of fun. CEMS meets ESN | 29 March, Living Room Budapest Since we had 9 exchange students with us this term the challenge of conflicting days with ESN parties were more and more common. This night was the first step towards the broader foreign community in Budapest. A gentle start in the Nagymező street was followed by a great remake of the Winter Camp parties at Living Room. Rotation Dinner | 4 April, Déryné Bisztró

SPRING

Exclusive setting, mouth-watering menu and the much awaited discussions with Corporate Partners. IFUA Horváth & Partners, KPMG and PwC were present to meet students, introduce themselves and discuss and share career opportunities, CV and interview first-hand tips & hints.

Volunteer Day | 28 April, Mozgolóda Óvoda Budapest After last year’s CEMS Humanitarian Week this year we decided to organise one distinctive event which might involve more people thanks to its uniqueness. On the first hot day of spring 26 enthusiastic students and 2 alumni had gathered early in the morning in the garden of the Mozgolóda Óvoda in Budapest. The nannies gave us little time to be amazed by the tiny sizes of the rooms and facilities: 5 minutes after arrival we were already painting the outside jungle gym. It turned out to be more tiring than previously thought and the idea of having a similar volunteer activity accredited as meaningful Skill Seminar points was born. CEMS Mixer | 3 May, Szilvakék restaurant Budapest The second edition of the CEMS Mixer took place at the Szilvakék restaurant in the beginning of May. All the tickets were sold out days before the event. More than half of the 100 participants were alumni which gave a special spice to this event. It was surprising to see this big and happy community together, at the same time and same place: something which rarely happens in the CEMS world. Running Dinners | 17 April and 9 May, Budapest

EVENTS

Sounds unusual? This night is all about “running” all over the city, having fun with fellow CEMSies and enjoying a delicious 3-course menu. Teams of two were set up to offer one dish at their home, and in return they were hosted by other teams elsewhere in the city. The 2nd round also reconfirmed how exciting and fun this dinner can

be. Kitchen-savyness should be complemented with logistic and navigational skills to make sure you are at the place you are supposed to be on time. Be careful: 3 welcome drinks in one night! Model UNFCCC: Negotiating the Barcelona Protocol 2012 | 16-18 April Over sixty CEMS students gathered in Barcelona for the 4th annual CEMS Model UNFCCC. The Climate Change Strategy Roleplay course involved students from the University of St Gallen, ESADE Barcelona, the Warsaw School of Economics, the University of Cologne and Corvinus University of Budapest for the first time. We are happy to inform you that two days of intense negotiations have come to an end, culminating in the Barcelona Protocol 2012. The CUB team of 11 students together with Prof Zilahy did their best to reach this agreement in various roles. Thanks to the HSG media team you can follow up on the event: http://barcelonaprotocol2012.blogspot.com.es/

V4 CONFERENCE A look back at ‘CEMS V4 Conference 2012: How to be Europe’s Pioneers?’ in Budapest By Anna Mátyus

From the 12th to the 15th of April 2012 the CEMS Club Budapest brought together top-notch students mainly from the Central-European region. The first V4 Conference took place last year in Warsaw in order to strengthen the regional bonds and to better represent the participating schools within the CEMS alliance. For this second edition of the youngest CEMS regional event, co-financed by the Visegrad Fund, CEMS SB, Mol Group, MET and P&G, more than 50 students from 11 universities gathered at the Corvinus University of Budapest in the Hungarian capital. The aim was threefold: valuable professional programs, reunion for the CEMS community and further possibilities for students to meet corporate partners. Furthermore, the conference objective was to provide insights on the challenges ahead within the region. More precisely, the participants could choose from 2 parallel workshops: energy infrastructure and human resource strategy in the CEE region. A plenary discussion opened the conference honoured by the presence of H.E. Helena Bambasová, Agata Zajega, Edit Szilágyiné Bátorfi and Metod Špaček from the respective embassies. After the round-table discussion MOL Group (the main sponsor of the event) introduced the hot topics of the energy infrastructure. In the afternoon, students taking part in the energy track gained insight on the decisions and their consequences regarding the profits of the company, focusing on the upstream segment. They competed in groups in a highly interactive simulation game with many rounds and received comparable result in the end. Their second day was guided by MOL Energy Trade. In this case study workshop, the participants had to provide a solution to the main question of gas trade in the region: the selection of pipeline directions.

The Human Resources track was kicked off by Procter&Gamble with an interactive presentation on transition management. The P&G workshop was built on the reorganizational process of P&G CEE. Besides providing first-hand insight on the structural and managerial challenges the company is still facing, participants were familiarized with the main theoretical frameworks of change management. The Saturday morning session was held by Hays who armed students with practical training and tips on CV writing, interviewing techniques and job search strategies. Participants could participate in a short assessment centre as well. Academic members from Corvinus held the last session. This workshop focused on the topic of employee commitment with a highly inspirational case study. The case drew attention on important, but less discussed aspects of managerial. Students had to come up with a solution for a company operating two factories with different management styles and different performance results. This summary would not be complete without mentioning the various side-events of the conference. We started the event with splashing into the River Danube on the unique RiverRide amphibian to set the spirit level. The participants had a rotation dinner in Spoon Lounge&Café with stunning views of the Buda Castle, followed by a graduation party in the university building, traditional Czech dinner with beer-tasting and a copious farewell lunch on Sunday. What have we learnt? When we had our first meeting in March 2011 (!) our objective was to introduce the very best of the Visegrád 4 region. We expected students, who are curios to find out how the Polish, the Czech, the Slovakians and the Hungarians have kept alive a cooperation born in Visegrád dating back to the XIVth century. Our expectations were very much exceeded and now when we are in the middle of preparing a Best Practices for regional event organization we can take time and look back. The tasks now seem to be minuscule however our team had to

find the topic, set the date, find sponsoring partners and one of the most demanding tasks was to apply for the Visegrád Fund grant. Thanks to this successful application we could set the participation fee as low as possible. And the countless operational tasks just came after that! An experienced marketing team was set up and boosted up the application campaign with a viral video of 9 series. We improved a lot in multitasking and problem-solving and excelled our team-working competences. In case you wonder about the evaluation of the conference the numbers speak for themselves: 110 applicants, 14 universities, 162 FB followers, 9 videos, 1678 video views in total, to name just a few. Committed team, early and well-developed preparation were the key success factors to bring all this to field. This was a demanding year but the nice memoires do make them forgetful. What stays are the flattering comments, thank you notes, the evaluation survey results and the common pictures. Post Conference The conference was very lively and inspiring for the attendees, who expressed a strong interest in keeping in touch and cooperating with one another in the future. The FB group is still active and many photos have been shared. Special thanks again to Dóra Bálint, Ádám Bereczky, Sára Bihari, CEMS Budapest Közhasznú Egyesület, CEMS Club Board 2010, Kinga Hóbor, Kinga Jentetics, Anna Kempf, Bence Komor, Nhim Kovács, Dániel Nagy, Noémi Pallos, Tamás Sváb, Dávid Széles, Máté Széles, Alíz Szolláth and Gábor Trefán. We asked some of the participants about their best moment during the conference. Interesting to see the various take-aways. Nadya Sheynina - Graduate School of Management, St Petersburg State University “V4 was a great experience for me for many reasons. I chose energy track and it was very interesting to follow the discussion and argumentation and especially perception of Russia by the other side. At GSOM we have similar events with oil&gas Russian companies and strategic issues discussed are completely different and associated conflicts between parties are viewed differently. The most valuable conclusion I came to is that everything is so dependent on context and viewed through different cultural, historical and political lenses.

Apart from the business content I enjoyed a lot the organization of activities and of course the city of Budapest, which cannot leave anybody indifferent. The most memorable moment for me is waking up early in the morning (sometimes at 4-6 am) with the same students as me and seeing how they manage their studies and at the same time fully participate in all the activities including going out after the main seminars. The conference was a great success and was the event where I met a lot of friends. Thank you, dear organizing team, for everything and wish you all the best for the future.” Daniel Uhlemann - University of Cologne

"To me the CEMS V4 conference 2012 in Budapest was an exceptional experience. The academic program was embedded in a lot of great group activities. Among others were two extraordinary tours to get to know Budapest. I will remember the boat and bus tour of the first evening very well. Not only could we drive through Budapest by bus, but also the bus transformed into a ship and we could float along some major sights on the Danube river. The last evening included an incredible bus tour through Budapest by night. In addition to passing all the beautifully lid buildings downtown, we reached a viewing point above the Danube river and could admire stunning views of Budapest at night. I also had great fun participating in MOL's energy trading workshop during the first day of the conference. We were able to learn a lot how an energy company tries to maximize profits from discovering and selling oil and gas fields. The big upside of the V4 conference in general was that students could participate in a very active way. In addition, the dinners will stay in my memory. We experienced some down-toearth Czech beer tasting as well as traditional Hungarian cuisine and high-class adventure gastronomy on a ship on the Danube river. Summing up all these views, the V4 conference was a great success with an insightful learning experience as well as cool social events!"

Thomas Henry - Louvain School of Management “My favourite moment of the V4 Conference was when we gathered together next to Szabadság-híd before the Corvinus Ball and shared a bottle of Rézangyal under the yellow light of darkened Budapest. These are the moments that truly emulate the CEMS spirit of cultural openness, curiosity, companionship, and reward after a day of effort.”

CONFERENCE Martin Strnad – University of Economics, Prague

“I very much enjoyed the workshop organized by the CUB professors Csaba Kiss and Roland Szilas in the HR part of the V4 forum. I must admit that i expected a lecture and therefore was very surprised that the workshop turned out to be very interactive and very much based on the student discussion. It might very well be the best professor held workshop I ever had.”

MOL, The main sponsor of the conference by Judit Kormos and Dóra Szabó

When the idea of V4 Conferences came up in 2010 we were the members of the CEMS Club Presidency together with Zsigmond Fajth and Kornélia Bodnár. Therefore we were very proud that our company, MOL Group became the Main Sponsor of the V4 Conference in Budapest and we could help organizing the event. The cooperation between MOL and CEMS Club Budapest was coordinated by the Strategic HR department, while the opening presentation and workshop were organized by the Strategy Development of MOL Group. The opening presentation of the conference was held by András Péntek, MOL Group’s Vice President for Strategy Development who was once a CEMS student as well. The aim of his speech was to give the participants a general overview about the main energy supply challenges which are to be faced by the CentralEastern European Countries. High dependency on Russian energy supplies is a major issue which can be solved by supply source and route diversification, however it requires a high level cooperation in the region. In the afternoon of the first day together we organized a workshop where the participants got the chance to manage an imaginary energy company. Their task was to build a portfolio of oil and gas fields based on global industry and market trends complicated by the geopolitical environment. The aim of the workshop was to teach students the major elements of exploration and production, how to manage risks by portfolio diversification and by acquiring information which can become a major source of success. For all of us it was an exciting opportunity standing on the other side of the lecture hall, becoming teachers from apprentices and giving the participants an insight about what we do in MOL Group. During the workshop and the rotation dinner we could meet open-minded and resourceful students. It was good to splash in the CEMS spirit for a day. Congratulations for the organizers of the conference!

VOLUNTEER DAY Giving a new look to Mozgolóda Óvoda By Péter Oláh

Corporate Social Responsibility projects are flourishing among all kinds of forand non-profit organizations these days. Budapest CEMS Club is also committed to gradually establish a team focusing intensely on helping our beloved city’s worthy communities. Not only is it a future strategic goal of the organization, but it was also a great opportunity to mingle and get to know the freshly accepted CEMSies. In this semester we went to the Mozgolóda kindergarten to repaint its outdoor facilities. Spending a day together to create a more colourful environment for the kiddies - also enjoying one of the first shiny days of the spring - definitely got us closer together. The kindergarten is situated in Buda, in the eleventh district providing daily activities for many children from the neighbourhood. With its wide courtyard there is plenty of jungle gyms and other facilities to play with (my personal favourite was the soon to be inaugurated little soccer/basketball field sized properly to its little users). However, many of them, despite having stood the test of time, needed renovation. The enthusiastic team of 28 CEMSies and the employees began to work in the morning. After hours of painting, chatting as well as more and more paint on ourselves, the court turned from its rubbed outlook to yellow, green, red or simply a freshly painted shade of brown. Before the finish we received a wonderful and much appreciated meal from the pre-school teachers. After saying goodbye to the grateful employees of the lovely kindergarten, our day was not completely over as we decided to spend the rest of the afternoon together. We headed to the nearest park at Kopaszi gát to play Frisbee – or simply to sunbathe in the case of some girls – which was just the perfect ending to our day. We wish all the best for the future projects of Mozgolóda Óvoda and would like to say that we are also thankful for the chance to have helped! Special thanks to the organizer who made it happen: Sára Bihari, hopefully there will be similar events in the upcoming semesters as well!

BUSINESS PROJECTS Tips for CEMSies when applying for their Business Projects By Dóra Bálint

As everybody knows CEMSies have to carry out a Business Project during their Term 2. It is also well known that the execution of solving a real business problem can be challenging, requiring a great deal of dedication and determination, making it all time consuming. Talking to students who have just finished their projects we have decided to gather some useful suggestions when it comes to the choice of project, and most importantly the company behind it: 

Most importantly choose a company where you might consider working later, because if you think about it the business project is a 12-week long job interview. If all goes well, you’ll learn a lot, and maybe receive an internship offer at the end of it.



Choice of company is very subjective. It can be based on industry, activity, market position, or reputation.



It is probably wiser to choose the project because of the company offering it rather than the topic of the project, because the project lets you have an insight into the company’s everyday operations.



Keep in mind though that you will benefit the most if the topic interests you.



Team composition is very important as this will also leave a mark on the quality of work you deliver.

All in all this opportunity will let you get a taste of employee involvement; development of communications skills (e.g. how to say ‘no’ to unachievable requests, negotiate when setting deadlines, successfully prepare the acceptance of ideas).

CONSULTING CAREER Working at McKinsey By Dóra Bálint and Anna Mátyus

Steep development curve, challenging projects, multiple-round selection process, attractive package and questionable work-life balance…These are the most common words coming up when we think about consulting. But what else do we know about consultants’ life? The career path of a consultant seems fascinating to most of the CEMS students lately. We have asked Julia Stark, Associate at McKinsey, to share with us her experience and advice. Your major was in accounting at Corvinus. Was it your CEMS MIM participation which made you apply to a consultancy firm? Not quite...(laugh). I worked for one year at KPMG during my university studies in financial advisory which reassured me about my strengths and preferences. Having an analytical mindset complemented with willingness to deliver value led me to ABN AMRO in Holland where I was offered an internal-auditor position which was more of a process engineering type of role than anything else. Before taking this role I participated at the McKinsey company presentation at Corvinus. Interestingly, even after this presentation I was still not convinced that consultancy could be my future. What played the most important role in my choice was rather the fact that I met particularly

smart colleagues: I saw they have to excel at providing valuable solutions to assist high-profile clients to take strategic decisions. This perspective was so different from what a traditional accounting degree could offer: the necessity to translate and implement the theoretical models into tailored and feasible real life practices requires leaders of a different kind – flexible and openminded. This also implies that work for the drawer happens rarely. This was the real trigger for me. It is interesting to see how committed you are nowadays knowing that your application was not a conscious preparation. I grew to love this job and I knew from the second round interviews that this is what I really want to do. Nevertheless, I realized quite quickly that common sense is the most

useful skill to have, which combined with knowledge and structuring skills are the key to solving most problems.

makes the case a bit more delicate. However, with an appropriate and professional business attitude you can overcome these challenges.

What advice would you give for the new CEMSies? First, you should never be afraid of asking for help. For example from the Alumni. I am not the only alumna being a mentor, but the first step has to be done by the student. Second, to ace the interview, preparation is essential. A good way to prepare is taking courses dedicated to case studies and participating in case study competitions also prove to be beneficial. Furthermore, it is during different internships (and not necessarily in consulting) where you can learn the most. Take any opportunity during your studies, it will pay back in the long run. Your mindset matters the most.

What was your most exciting project in your career so far? I cannot tell you much, but as my passion is healthcare and life sciences, the dream project was related to a health system reform. Regardless of the project, it is very rewarding when you see that your work makes a difference. In the consulting world you get to work on some really life changing projects.

Were there any challenges in the beginning of your career? As a fresh hire everything just seemed incredibly fast and difficult to digest. You have to be able to cope with short deadlines and to structure complex problems, not only numerical ones. Also, it wasn’t always easy to make yourself taken seriously in front of the Hungarian middle-and top management as a fresh graduate. Being a woman

What is the most difficult part of your job? Deadlines, what else? (laugh) Putting the obvious aside, I would say it’s learning to master the helicopter view, the ability to see the big picture without losing sight of the details and their implications. Implementing this ability to your everyday work makes you an outstanding leader and strategist. This competency comes with time and requires patience.

CON

If you could restart your career is there anything that you would do differently? Yes, I would like to think that I would be more conscious when it comes to planning my career path. But who knows, maybe even then I

would have ended up here, in the same position. Another thing I would recommend for students is to do their Mater’s abroad. Doing so you can master English at a proficient level. This is the only way you will think and dream in English, which is exactly what is required of you in this type of work, especially when you work abroad. Could you name any inspirational teachers in your life who influenced you? My father, without doubt. His unbreakable integrity is something I look and try to live up to. Not only that, but I find his ‘home-made’ management frameworks and tools way more practical than anything I came across with. I find practical and pragmatic people the most inspiring in general. I met some clients who are like that as well. In 2010 you did your MBA at INSEAD, Singapore. Could you name the biggest advantage, added value of completing the programme? It opened my eyes regarding how much we can all learn from each other. The diversity at INSEAD is just amazing, even for me who ‘grew up’ in CEMS and McKinsey. Another valuable piece was that compared to the classic Hungarian methodological and theoretical teaching paradigm we were finally

taught the value of practical and independent thinking. In teams we got to work on some exciting projects, which otherwise would have been inaccessible for us. To mention one of the funniest ones, we had to work on the market launch of a sperm test device. With this little appliance men can test their fertility from the comfort of their homes, similar to a pregnancy test. Very easy product but there are some severe mental and psychological barriers to break down. Mostly on the men’s side for whom taking such a test equals to losing their pride, so you can imagine that it posed some challenges when it came to working in a team and to get the boys to take the task seriously. In the end we really felt it was our own product and we had some serious debates about market entry approach. This was also a good example of what I think the MBA gives you most: an entrepreneurial spirit. What does success mean to you? Being productive and still have the energy to cook, hang out with friends and be like a normal person – that’s an achievement. Naturally I am happy when I perform a task well or pass and important milestone. Success, however, for me means enabling other people to succeed. That’s when I really feel I did something great.

SULTING

EXCHANGE Buda Castle, Széchenyi Bath…exchange students

going

further

the

usual

landmarks The Budapest CEMS community has never had so many exchange students as this semester. 8 students studied with us coming from Germany, Austria, Russia, Switzerland, Portugal and Poland to broaden their perspectives. We asked them about their experiences in Hungary…Let’s get a better picture about our “value proposition” thanks to their different way of thinking.

Name

Eva Lukacova

Tu Le

From

Slovakia

Germany

Home university

WU Wien

University of Cologne

CEMS International Management

Finance

Why did you choose Budapest?

TO broaden my CE experience.

Because everyone who has been to the city only told me good things about it. Haven't been too much in CEE before so I thought it would be the perfect location to explore the region. Nightlife should be good as well.

Do you plan to stay longer/come back?

Until the end of September I work here

For another trip for sure.

Major

STUDENTS Eva Lukacova

Tu Le

What was the main difference at CUB compared to your uni?

Less CEMS students :(

The business school approach with mandatory attendance and case studies and presentations throughout the semester.

Hungarian words you know

A LOT OF :) I have taken few private classes.

Kössinem (sepen), szia, egeszegedre :)

What did you do on a free night or weekend?

I travelled home :D at the weekend and studied in the night.

Party, eating out, travelling, exploring the city

What advice would you give to a new arrival in Budapest?

Learn some Hungarian. And prepare for the shock of Budapest metro. And do not expect to easily find metro station signs on the streets.

Try to experience as many new things/impressions as possible. Don't only hang with the international crowd. Go to Matthias Church to have an amazing view over the city.

The first place you would recommend your friend?

Castle - sunset and night.

Matthias church on Buda side

What are the best things The atmosphere of the city, new cultural experience, about an exchange in Budapest? traditional market places.

Nice and helpful people, amazing city, good prices, good nightlife

What’s the worst thing about Hungary?

I can tell just about Budapest - a lot of homeless.

Food

QUICK HITS Buda or Pest?

Pest

Favorite Hungarian word

Nincs :D

kössi

Unicum or Pálinka?

Unicum!

Pálinka

Favorite Hungarian food

Paprikás

Goulash

Favorite restaurant/bar

Fakanál

Szimpla

Hungarians: hot or not?

sorry - usually not. but those few who are, are very much :)

hot!

Hot Bath

Hot Bath or Coffee House?

CHARITY RUN Running to help in 2011

It is curious how things develop from a seed of an idea to a full--blown event and program. It was during a brainstorming session in our Fall Camp that a visiting CEMSie from Portugal mentioned that at home they organize Charity Runs. The idea became very popular and so in two hours an informal working group had been formed that spent the next three hours planning Budapest’s Charity Run. The basic idea was the following: we would ask our Corporate Partners to offer a donation for each kilometer our volunteer CEMSies would run on a drizzly November morning. The Charity Run's working group therefore had three main tasks to complete: to engage Corporate Partners, to find a suitable organization to support, and to involve fellow CEMSies and Alumni to participate in the run! The CEMS community in Budapest had chosen the National Association for Children with Leukemia to support from the donations by from our Professors

and CEMS Students and from our Corporate Partners Deloitte, IFUA Horváth & Partners, Nestlé and Sony (with product donations). Together we “ran” almost 500.000 HUF worth of donations which was the necessary amount still needed for the Association to buy a new ambulance bus.

We would like to thank all the CEMSies and the runners from Deloitte and IFUA who joined us on Margit--‐ sziget Saturday, November 12th and ran at least 5, if not 10 km to collect donations for the children! It was a wonderful experience to see the passion, generosity and determination that was needed from all CEMSies involved in making this little idea--‐ seed become a reality that actually makes a change in people's lives.

CAREER Career exploration - Andras Bencsik „I am a team player, but not the suit up type” Being part of a community we, CEMSies have a lot in common; international openness, critical thinking, strong desire to achieve, and we tend to find challenges irresistible. After graduation however we all take different career paths. Andras Bencsik so far has led a very exceptional career story. One that is interesting because of the career choices it includes and because it demonstrates the path in finding where your interest lies. Let’s start from the beginning... THE ALMA MATER I realized the importance of my university education way beyond graduation. When one is employed it immediately becomes apparent what he should have focused on. It is easy to blame the Hungarian education system, but I do believe that you can set off with reliable basics in case of frequent attendance to classes. Controversially, lots of the students in my time and I guess this is still the case are already working besides uni (and sometimes it’s a case of a full-time commitment). Corvinus does give you the inevitable theoretical knowledge. What I’d rather missed is the entrepreneurial approach/spirit. Needless to say, the challenges of teaching it. But a good start could be showing students that there are other opportunities beyond large corporates. THE CEMS ERA When I applied to CEMS in 2003 there was a very different milieu around the CEMS MIM programme. It was neither as well known nor that prestigious as it is considered today. At that time going abroad was an option I was considering, so it was a straight decision.

During my exchange term at RSM I had come across many surprises. First I learnt that practical experience is essential complementary of the theoretical studies. Secondly I was faced with the very sad truth that my English language skills were not as good as perceived. The continuous hand-ins required from all of us turned the semester into a great challenge. CEMS also brought me my first full-time job at ExxonMobil through one of the rotation dinners. Started as a Controller I managed to secure 4 months workshadowing in London, hence also satisfying the Programme’s internship requirement. FIRST EXPERIENCE Another opportunity soon came into my way; I was one of the lucky guys, who could spend a year working in New York through the HAESF Programme. Being rotated between risk management and private banking I got a good taste of banking, a sector where I remained for 3 more years post-internship. Meanwhile I started and later completed the CFA studies, another stage where I realized I should have concentrated more at the uni. Sadly this period was accompanied by the credit crisis, where there was a massive hiring freeze globally. I saw no further opportunity in personal development, my merits were harvested by the superiors, so I decided to endeavour somewhere else. Wearing a suit every day was not something I was fond of anyway. Key takeaway here is that if someone is into a banking carrier, choose a Master’s in finance and get the most out of the uni as possible. In addition I see a great need for fresh grads experienced in financial modeling and programming. If I would start again these are the two factors I would concentrate on. So after all these experiences I took a step back and decided to take some time off and try to use wisely to reconsider my future. And I was lucky again. Back in 2009 with one of my university mates we founded a small software company delivering mostly gaming solutions. One of our contractors presented an idea, which I started believing in. This start-up, called Webee grew at a remarkable pace over the next year and being the CEO of it I managed to get the first sweet taste of the real entrepreneurial life.

SUCCESS STORY And my story continues with Antavo. Having met them at the Venture Accelerator Course (organized by EEF) last fall I joined the team at the beginning of this year. Currently I am accountable for business development, investor relations, legals and not surprisingly for financial modeling. However by the definition of a start-up there are no strict boundaries between roles, I am just as involved in marketing as in product development. My life for a short term was split between Szeged and Pest, as the company was co-founded by professionals from a Szeged-based web agency. Antavo is a marketing software for small businesses and agencies to build intelligent online promotions. This B2B tool is to efficiently increase sales and to engage customers at the fraction of the cost of an average market solution. The team applied and got invited to Seedcamp Tel Aviv, a start-up competition organized by Seedcamp, Europe’s best mentoring and seed investment program. Their pitch proved to be worth of investing (the first Hungarian investment of Seedcamp) and 3 of the team of 7 moved to Europe’s start-up capital, London to expand their network and business further. Even within London it wasn’t just anywhere, they work in one of the Google’s office for indefinite time. Currently they are seeking for the next capital injection, while working hard on championing the area on the world stage. KEY TAKEAWAYS Based on these experiences I believe that building a career restricts you, it is not equivalent to reaching self-transcendence. Unless your aim is to become a director at a larger company. Contrary to the corporate world in a start-up you build your own way, you reach out to an extensive network and come across many different life examples. How good is to meet successful Hungarian companies, such as Prezi or to engage with the VP Product of Google+? The downside surely is that you may need to give up financial security. To be able to live like that you have to have a certain personality and attitude.

I have learnt along the way that it is extremely important to know what you want and why you want it at the very beginning. This will help you deepen your knowledge within that field. Even during your studies it is advised to get to know yourself and set goals, this will help you to succeed. Being prepared ensures you get the most out of your ride. So if you can afford it, take your time to find the career path that suits you the most. In London for example education takes place in a more rational way, next to a strong theoretical base, they make sure all is put into practice. Students spend a lot of time acquiring IT skills, so post-graduation they are able to meet all expectations. Specialization starts early resulting in a well-paid, secure job. However, keep in mind that all this leads to professionalism and a strong competition. Maybe one more thing to mention: I am still in good terms with my CEMS peers. Business-wise it is difficult to keep in touch due to the various career paths, but we occasionally meet for a few drinks and the best is, you have free accommodation all over the world!

The Student Alumni Mentorship Program (SAMP) is launched to make sure that you get all the information you want from CEMS Alumni about starting, building and developing your career! Find your mentor who can help you with advice on studies, internships, exchange semesters, applications or career choices. You have become part of the network - it is time to take advantage of it!