Associate professor Russell Crook and assistant professor Larry Fauver led a group of 18 students on a mini-term in London, England, this summer, demonstrating the differences between the business world in Europe and the United States.
“We chose London because it is a key financial center and because of its rich history,” Crook said. “It helps students learn that other ways of doing business work quite well.”
Samuel Stevenson, a rising senior in finance, was surprised by the pace of London’s business world.
“I feel like business culture in the U.S. puts more of an emphasis on dedicating one’s life to his/her work or job,” he said. Stevenson also noted that the tax environment for corporations was more appealing in England. “If I am looking to start a business, I would much rather pay 21 percent [corporate tax rate] than 35 percent.”
During their two weeks in England, students visited cultural sites such as Stonehenge and the Roman Baths complex, spoke with local business professionals and toured the London Metals Exchange, Google, CNBC, Bloomberg and The Guardian.
Supply chain management junior Samuel Liggett said that he had no knowledge of some of these businesses before the trip. “Now I know about how they are run, what they do as corporations and how they operate in a global context,” said Liggett. “I know that I will become a more internationally savvy businessman because of it.”
Liggett noted that his opportunities to explore the city independently also were pivotal to his experience. “I ventured out on my own to see the Tower of London and Winston Churchill’s bunker and spent hours one afternoon just wandering aimlessly through Camden Market,” he said.
Fauver said London was a broadening experience in and of itself for many of his students. “The cultural and business aspect is key but the time in London allows students to interact with so many diverse individuals,” he said. “It’s amazing to see the confidence they gain from the trip.”