Wednesday, November 12, 2014

Money Makes the World Go Round...


I attended my first University Cultural Tea in a long time.  There was a really nice attendance and a full room. 



Now held in the Hall of Nations in Centennial Hall, it was very appropos for the gathering.  The format has changed as the original idea was to allow an informal socialization time between campus students and staff followed by a short program  showcasing various  UW-L international students's culture. The presenters would choose a topic and present it as we continued to munch on international snacks and sip tea/ coffee. There would be questions after the presentation. 

Well, there were still snacks in addition to welcomed warm drinks including cider on this cold day but alas no socialization time. It was all 'business.' Literally, as the day's topic was business and each table had a facilitator who would make a brief presentation re:business in their country. 

My table's presenter, a finance major from China shared information about the major banking institution in China, Industrial and Commercial Bank of China. It turns out American Express owns a nice chunk of its holdings.  You should check out Wikipedia to learn more how humongous this institution is. 


After a mere 15 minutes, facilitators switched tables. Not really enough time to discuss anything. 

Our next student presenter was a senior in business from Hungary. Did you know Hungary has the largest tax in Europe at 27%? Wow and we complain about 5.5% in Wisconsin. Besides agriculture, tourism is a very important industry in Hungary. 

 Our presenter has a brother who recently opened a coffee shop in Hungary so he spoke about tourism's impact on the restaurant business. Wait staff must go to language school as they are required to know at least 2 languages, their own, English /Slovakian to be able to converse with restaurant clientele. After receiving at least an intermediate language ability, they are hired as "full" time employees with a salary above minimum wage and 10% tips considered middle class employment. The success of a restaurant differs from the States where marketing does not play such a crucial role with limited if any advertising/ billboards. In his country it is more word of mouth for the business's first year...

Well time was up before we could learn more from other facilitators as 8 of last year's business interns would give short recaps of their international internships.

In today's global world it certainly would behoove us all to learn as much about other countries as possible. Kudos to the University of Wisconsin-La Crosse for offering these international possibilities to their students and preparing them to enter the Global Economy and World.  There sure is a lot to learn in our ever changing world.





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