The students will solve real-world management dilemmas faced by some of Iceland’s leading firms, in the school’s first consultancy week held in Iceland.
Teams of five students will test their consultancy skills in businesses, ranging from software houses, banks and pharmaceutical companies, to growing retail and tourism ventures.
Among the 19 business projects they will tackle is a feasibility study for a financial services firm, considering a move into Greenland, a digital marketing strategy for a clothing brand aiming to break into the UK market, and a marketing strategy for an international law firm.
Other projects include an investment strategy for a new drinks start-up, a route-to-market plan for a geothermal power company and a product development plan for a biotechnology firm’s new cosmetic product.
As the first ever business school to hold its study tour in Iceland, Cass students are set to receive a welcome from the country’s president, Ólafur Ragnar Grímsson, who will attend a private dinner in Reykjavik, Iceland's capital city.
Dr Sionade Robinson , Associate Dean of the school, said Iceland’s resurgent economy offers unique learning opportunities.
"Six years ago, Iceland’s economy was in financial meltdown. But with low corporate tax, cheap renewable energy and a highly-educated workforce, it is now re-emerging as a highly attractive investment location,” she said.
“This is creating unique commercial challenges and opportunities, which is an ideal environment for students to test their business skills. The country’s breath-taking landscape and a buzzing cultural scene also add to its appeal.”
Consultancy week is a culmination of Cass’s core MBA program, which gives students a chance to put theory into practice by tackling real operational and financial problems, and management and innovation issues.
Dr Robinson said that many students consider this the highlight of the course. “These opportunities allow MBA students to apply their business skills to real-world situations, in areas relevant to their individual career interests,” she said.
“Our intense core program means they often don’t realize how many new skills and tools they have acquired until they have a chance to apply them to real business issues during this week.”
The students work on-site with their chosen company and with Cass Faculty, whom are available to coach and support them before delivering an initial presentation of their findings to the client's senior management.
After returning to the UK, they have a further four weeks to provide a full set of recommendations to the company.
Follow the student’s study tour in Iceland via Twitter @cassinthenews #CassIceland