Yesterday, we had classes in the morning at the WHU, followed by an afternoon of preparing for group case presentations, due two days later. Our larger group has been divided into six smaller ones, each assigned to consider different issues from three different stakeholder perspectives. The clock is ticking and students are working hard to analyze the case from all angles, pull out the relevant details, build arguments, and then craft their actual presentations.
After the work session, we were rewarded with a wine tasting presentation by Andrea Ebert who, along with her husband, Christian, owns a second-generation vineyard that first belonged to her father-in-law. Weingut Schloss Saarstein is world-famous for its award-winning Rieslings. We learned a great deal about wine making and got to sample seven different vintages. Andrea was informative and entertaining; it was a real treat to be able to sample such choice wines. After the formal tasting, we nibbled on an assortment of hors d’oeuvres.
Ruth, Santiago, David, Katherine, Manj, Hana, and Kiersten
Andrea Ebert
The Group
Today, we got on a bus early in the morning for a trip to Darmstadt to visit the 12th-generation family pharmaceutical and chemical company, Merck. Founded in 1668, Merck does pharmaceutical research in the areas of neurodegenerative diseases, oncology, fertility, and auto-immune disorders, and then brings pharmaceutical products to market, a process that takes 12-15 years and that can cost millions per drug.
Students enjoyed a tour of Merck’s facility, courtesy of Ulrike Strobl. She spent the better part of the day with us, and she was a gracious and informative host. The tour included a presentation on the family business history, given by CEO, Jon Baumhauer. He pointed to several factors that contribute to the success of the family business and business family, including innovation, dedicated employees, congruency of family and business values, family involvement in the business based on merit versus entitlement, and philanthropic activities. There are currently 221 family members.
The Group, at Merck
Trish Reay, Jon Baumhauer, and Peter Jaskiewicz
Besides pharmaceuticals, Merck produces chemicals, including ingredients in cosmetics, as well as liquid crystals used in TVs and mobile devices. Merck has captured 98% and 70-75% of the TV and mobile device markets, respectively.
From Merck, we took another ride to the Kloster Eberbach Monastery. Founded in 1136, it was the first Cistercian monastery on the east bank of the Rhine. It is also known for its economic activity, as the monks operated a successful vineyard and winery for many years. Rebuilt several times after wars, sieges, and floods, the monastery now offers wine tasting tours and is also the prime venue for the Rheingau Music Festival. On our tour, we visited the church, the dormitory, “Chapter Hall” (where chapters of their rules were read and recited), the dining hall, and the wine cellar. The architecture and stories associated with each room left an impression on the group.
View of the Church
The Dormatory
The Kloster Crest
The wine cellar
Paul, Tabea, Keven, Hana, and Katherine
After a bus ride back to the hotel, students were tired—even those who nodded off during the bus ride—but they persevered and continued to work on their group presentations for tomorrow. Just a few more hours before this project will be complete!
Great job Tabea on the blog! I know it can be an extra burden when everyone is ready to go out an you have to type 400 words on the past day. But it will keep you sharp and you will get so much more out of the trip. Keep up the great work!
As a daily follower to the blog, I’d love to know who is actually on the trip – wherever possible share the names of the people both MBA and BCom – I’m very interested. (For example I had no idea Chris Tarbox and the two Kevins were going! Cool!)
Remember it’s a marathon not a sprint!
Best,
Mike
Thanks for the encouragement, Mike. And for the good tips. It’s exhausting some days, but it really is worth it.
Tabea