MEDIA RESOURCES

What Will Become of Cuba?  
Cox Executive MBAs Explore Business and Culture Opportunities
Dallas (SMU) – The SMU Cox Executive MBA (EMBA) Class of 2007 hopes to answer this question as it embarks for Cuba on August 26 for a four-day visit, marking the school’s second trip to the country.  
The original objective of the trip to Cuba was to give Cox EMBAs the opportunity to dispel myths, experience the effects of the embargo, and witness firsthand future business opportunities. Because of its proximity to the United States, Cuba is a natural market for American businesses. In addition, because of the age of Fidel Castro, the group hopes to gain perspective from officials and the general populace regarding their feelings about what will happen when Castro dies.
“While the responses we received last year hinted at some possible changes, there was not a sense of urgency,” said Tom Perkowski, director of the Cox EMBA program.  “We are excited about going to Cuba this year because we feel that the sense of urgency will be more prevalent based on the events of the last several days. “
The group of 85, which includes students and administrators, will attend presentations on the Cuban economy, Cuba-U.S. bilateral relations, the Cuban public health system, Cuban businesses and farmers, along with cultural tours in Havana.
"We are all extremely excited that we have the opportunity to be front and center during possibly the most anticipated event in recent history,” said Philip Cormier, vice president of Marketing at ACE Cash Express, Inc.  “How fortunate we are as SMU EMBA students to be on the streets in Cuba when the rest of the world must watch from their living rooms."
 “After four days of intensive presentations, meetings, and tours, our students walk away with a much better understanding of what it would take to conduct business in Cuba’s economic and cultural climate,” said Perkowski.  “And given the events of the last several days, those opportunities may come sooner that we thought last year.”
Lessons Learned from Cuba
Only a handful of business schools across the country travel to Cuba. Last year was the Cox School’s inaugural visit, and they were pleased to be welcomed warmly.  The group of EMBAs was the largest and most senior group to make the trip from the United States.
The group witnessed the combined economic effects of Cuba’s communist ideology and the U.S. embargo. Living conditions were worse than students had expected, but they discovered that Cuba has invested heavily in its education and healthcare systems. Although constrained by availability of advanced medicines and medical technology, healthcare coverage appeared to be comparable to the more developed countries.
Dharman Shetty, Cox EMBA 2006, found that perhaps most surprising was the socio-economic impact of communist ideology, where people earn almost the same salaries, regardless of their qualifications and contributions to society. Some professionally educated and trained engineers seek work in hotels and as tour guides, earning more from tips than what they can earn working in their qualified line of work. “This is a major challenge to the Cuban government,” Shetty said. “While the Cuban people have managed to live life within the constraints of their government policies, they all strongly believe that their lives would be a lot better off, had it not been for the embargo that significantly limits Cuba’s ability to trade.”
About SMU Cox
SMU’s Cox School of Business offers a full range of business education programs, including BBA, full-time MBA, Professional MBA (PMBA), Executive MBA (EMBA), Master of Science in Management (MSM), and Executive Education. The school also offers a number of unique resources and activities for students, ranging from its Business Leadership Center (BLC), Caruth Institute for Entrepreneurship, Maguire Energy Institute, and American Airlines Global Leadership Program (AAGLP) to its Associate Board executive mentoring program and an international alumni network with chapters in more than 20 countries. SMU Cox is ranked among the top business schools nationally and internationally by major publications, including BusinessWeek, The Economist, Financial Times, Forbes, The Wall Street Journal, and U.S. News & World Report.