The work of a dozen MBA students should help financial market professionals gain a better understanding of their main competitors so as to make their communication more effective. Analysis of a new and unusual initiative.
Following examination by the AMAF/CDE joint committee of the question of the development of Monaco’s financial market place, its unanimous choice was to adopt a rigorous, open and iterative approach that should lead to better understanding of how Monaco could attract a new generation of demanding, dynamic and highly mobile entrepreneurs and executives. The Commission therefore contacted the International University of Monaco (IUM), which also contributes to the reputation of the financial market, and which welcomes more than 60 nationalities every year in its Bachelors, Masters and MBA programmes, ranked among the best in the world.
“An interesting viewpoint”
“The diversity of these students provides an interesting viewpoint on the attractiveness of Monaco: the choice of the IUM is one that may lead parents, friends and relations to look more closely at the various opportunities offered by the Principality,” explains Bernard Rousselot, Co-President of the joint Committee for the promotion of Monaco’s financial market. “We also realized that it was useful to work with students who make everyday use of the new media, social networks and mobile communications, so as to integrate these new tools into the audit and the communications strategy of the financial market.” Since 12 April, therefore, a dozen MBA students of 7 different nationalities have been studying the positioning of Monaco’s financial market compared with its main competitors in Europe, the Middle East and Asia. Two teams were formed, one analyzing Geneva and Dubaï, the other Luxembourg and Singapore, so as to identify the best practices which explain the success of these centres, and recommend those which could be relevant for Monaco.
“An excellent opportunity”
The results of this first comparative analysis will be followed by proposals for the implementation of an international marketing strategy for the development of Monaco as a financial centre. Marika Taishoff, Director of the Monaco MBA programme, is enthusiastic: “This is an excellent opportunity for our MBA students to discover Monaco’s financial market and contribute to its development through a consultancy mission which will enable them to apply the theoretical management concepts they have studied during the year.” On 6 June, the IUM’s MBA students will submit their report, which will no doubt generate considerable interest among the Principality’s finance professionals. This will not be the end of the story: the next promotion will be involved in the “Monaco for Finance” project, launched by the AMAF/CDE joint Committee with the aim of bringing together all the financial partners in the market.
