The International Module at FIU -The Alvah H. Chapman, Jr., Graduate School of Business

The EMBA Consortium for Global Business Innovation is an important component in the redesign of FIU’s Executive MBA. The new EMBA curriculum replaces 13 three-credit-hour discipline specific courses with 4 eight-credit-hour themed courses: navigating in a globalizing world; creating economic and social value; creating process that deliver economic and social value; and, developing and implementing corporate strategies. The new curriculum also includes a series of innovative one-credit-hour Leadership and Innovation courses that act as threads to bind together and bring focus to the eight-hour interdisciplinary courses as those courses address a variety of complex and ambiguous issues senior manages typically face.

The Consortium Week programs offered by our partner schools are opportunities for our students to expand their research horizons for their required Innovation Projects while living in and learning from different markets, teachers, colleagues, companies, government institutions and cultures.

Those students who elect to join our Consortium Week program will learn about the trends that are driving business opportunities in Miami, South Florida, and may regions of the world and how companies are using innovation to translate these drivers into opportunities. Visits with executives in the health care, cruise lines, cultural arts and real estate industries provide examples of how these innovative industries are changing Miami into a World-Class City.

Address/Contact
FIU Downtown on Brickell
1101 Brickell Avenue, S1000
Miami, FL 33131
USA

Rosa Fuste
EMBA Program Manager
fuster@fiu.edu
+1-305-305-779-7958

Maria Sierra

Associate Director, Operations
sierram@fiu.edu
+1-305-779-7954

Website:http://emba.fiu.edu
Phone:1-855-348-EMBA
Location
City Guide
City Photos
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The Economics of Wealth and the Industries that Benefit: Real Estate, Hospitality, Healthcare and Wealth Management

The world has seen an unprecedented, if uneven, expansion of wealth over the last two or three decades. The annual Knight Frank Wealth Report highlights widespread global wealth creation and outlines the products and lifestyle choices made by affluent households. Ultra-high-net-worth households and the global business elite rank Miami as a Top 10 global city, one recognized for its cultural and business diversity, its entrepreneurship, and its creativity. These factors have led to the creation of Miami’s affluent lifestyle market where its real estate, hospitality, healthcare and wealth management industries are innovating and adapting to market forces driven by global wealth. Miami, along with cities, such as Dubai, Hong Kong and Singapore, is developing its economic base to take advantage of its location and choice, as a global gateway city. Managing wealth and the provision of lifestyles and experiences demanded by an affluent world are part of the city’s economic base, are marketed on a global basis and are essential to the creation of the city’s international market for financial and business services. The International Week at Florida International University is focused on an affluent 21st century and the industries that benefit and offers:

  • An introduction to economic base analysis which identifies non-traditional economic drivers, including luxury real estate, healthcare and hospitality;
  • A primer on the wealth management industry and its extension to a global footprint;
  • Face-to-face discussion with entrepreneurs and developers of luxury residential projects marketed to global buyers, where multimillion dollars sales are the norm;
  • Site visits and evaluation of retail developments anchored by global luxury brands;
  • A site visit along with discussion with healthcare executives marketing services to the global affluent market;
  • Exposure to the experiential requirements and opportunities within the luxury hospitality industry; and
  • A framework to understand what constitutes “economic base”, “luxury living”, “affluence” and how to evaluate and assess opportunities in these markets.

Students will be immersed in Miami’s wealth management, real estate, hospitality and healthcare industries, which all benefit from the trend toward global affluence. By the end of the program, students will be able to: 

  • Articulate and assess a city’s or region’s economic base;
  • Understand and articulate the infrastructure required for creating economic base industries;
  • Identify the economic and legal prerequisites associated with ultra-high-net-worth households’ selection of location, business services, healthcare and leisure activities;
  • Explain how the global growth in high-net-worth and ultra-high-net-worth households will foster the expansion of the industries like real estate, wealth management, hospitality and healthcare;
  • Determine the demand drivers for luxury residential real estate and evaluate luxury retail opportunities, including development opportunities;
  • Articulate how “experiential” components are integrated into the affluent lifestyle environment;
  • Visualize and feel the affluent living environment;
  • Understand the role of entrepreneurship, innovation and creativity in developing affluent lifestyle activities that are an area’s actual economic drivers;
  • Identify other cities and city-states, such as Singapore, that have created a lifestyle and business framework that attracts global elites; and,
  • Identify any opportunities within their own cities and regions.

Participants will interact with the creators of Miami’s affluent environment with program delivery coming from interactive lectures, site and neighborhood visits and tours, interaction with industry leaders and principals involved in the creation of Miami’s affluent real estate, wealth management, hospitality and healthcare markets.

Faculty will present the interactive lectures. The faculty is globally recognized. For example, faculty in the Hollo School of Real Estate have been ranked Number 1 in the United States and Second, globally, in academic real estate research in a recent issue of the Journal of Real Estate Literature. Other faculty are recognized scholars. See the faculty bios section of our website.

More importantly, the program will take advantage of access to industry leaders and existing examples of the real estate, wealth management, hospitality and healthcare markets. Miami is home to a substantial number of residential projects marketed to and sold in the global market, where buyers are non-locals (“export” or foreign buyers) and readily pay purchase prices at the highest levels in the country and within North and South America. The top tier development firms have revenues in the billions of dollars and serve a global market. They are marketing a “brand” to the global community. Even as the location is permanent, the buyers come from “export” or “foreign” markets and the income and wealth related to these properties is external to the market, which is essential for base economic activity: activity that brings income and wealth into a city or region. Concurrently, the city is a center for wealth management, where firms manage investments for the global affluent. Hospitality and healthcare services in Miami also have a focus on the globally affluent.  Students may come to look at these industries differently than in the past as many of these industries have not been seen as economic drivers, but can be in an affluent world, where distance is minimized and connectivity is optimized.

 

Cultural and Luxury Living Tours

Participants will potentially tour a subset of the following: the Perez Art Museum Miami, the Adrienne Arsht Performing Arts Center, the Frost Museum of Science and Technology, and the New World Symphony. See: www.pamm.org; www.arshtcenter.org; www.miamisci.org; www.nws.edu. As part of the development of the affluent market and reflective of the demands of the global market, the city’s public and private sectors have created four state of the art performing arts facilities over the last 10 years, designed by globally recognized architects and designers.

Participants will also tour/visit the Miami Design District (www.miamidesigndistrict.net) and the Wynwood Walls (http://www.miamiandbeaches.com/places-to-see/wynwood/wynwood-walls).  

Property Tours:

Tours of exemplary projects associated with the affluent real estate market will be provided. Anticipated tours include Aventura Park Square, a 250 million US dollar mixed used lifestyle center developed by a Brazilian American firm that includes residential, retail, hospitality and healthcare components, the Miami Design District (a multi-billion dollar redevelopment area) including a presentation with DACRA, the lead developer of this global luxury destination, tour and finally a tour of and meetings with executives associated with Brickell City Center, a one point five billion US dollar mixed used luxury development. Tours will highlight the integration of luxury branding, high-end design and the development of a global market. All tours will include presentations from executives involved in the conceptualization of these projects, as well as their development.

Aventura Park Square is a livable, green lifestyle center, marketed to the global market that affords an integrated lifestyle, including healthcare, luxury residential, seniors housing and retail all related to the affluent Aventura market. The development firm has built similar product in the US and other countries.

The Miami Design District is dominated by DACRA, which is the leading development firm in the district and includes investments from LVMH’s L Real Estate private equity fund. DACRA has and is transforming a neglected industrial area into a global lifestyle area focused on luxury brands and related lifestyle options.

Brickell City Center was developed by Swire out of Hong Kong and is again a mixed-use lifestyle center, marketed globally and providing an integrated sense of place for residential, retail and office product. The links below highlight prospective tours.

 

See the Links below:

www.aventuraparksquare.com

www.miamidesigndistrict.net

www.residencesbrickellcitycentre.com

Corporate Visits

Students will visit a healthcare provider, focused on the global healthcare market. Baptist Health, one of the largest healthcare services firms in Miami, will provide a tour of a one of its state of the art surgical centers. Managers will explain the services provided, while also outlining and detailing how the international market is developed.

A roundtable with wealth management executives will expose students to this industry. Areas of discussion include services, marketing and regulatory compliance. In short, what financial services do the affluent and wealthy need?

Executives from the hospitality industry will discuss trends in hospitality. Faculty from the Chaplin School of Hospitality will provide an overview of the high-end, global hospitality market. Executives will provide operational insights. Brickell Avenue, where the Florida International University EMBA Program is located, is synonymous with wealth management and international financial services. A tour of the offices of a major wealth management will also be provided.

Lifestyle Dinners:

Students will be able to independently partake in dinner options that include an introduction to unique neighborhoods exemplifying lifestyle neighborhoods. Specifically, participants will be introduced to the Lincoln Road, Brickell, and Little Havana markets. Background and history on these markets will be provided, after which, the participants may dine in these neighborhoods. Some of the dining opportunities throughout the week will follow a similar pattern of immersion in the affluent lifestyle.

Lincoln road has developed into one of the most expensive retail areas in the United States outside of New York and a few sub-markets in other cities. Participants will get a tour and market update and will then enjoy the area’s shopping, restaurants and nightlife. The area dominates the tourism sector and is part of the economic base.

Brickell has seen the creation of a high-end luxury market, based on international buyers. The area is in the midst of the delivery of 1000s of pre-sold high-end units and is developing its related retail and experiential neighborhood feel.

Little Havana is a gentrifying neighborhood that is home to Miami’s large Cuban population. For many, it is the heart of Miami even as it transitions to a new neighborhood.

Vision and Career Expanding Outcomes 

Students will evaluate and determine their own city or region’s economic base. They will identify the industries that drive their respective cities. Concurrently, they will assess growth prospects in the industries that drive their cities’ economies. They will know the economics of their respective regions/cities and will be able to identify challenges and opportunities.

Students will determine if their regions/cities have and or can develop industries that tap into the growth in global wealth. The goal will be to objectively assess market potential, barriers to creation and the necessary framework and infrastructure for likely success.  In essence, can one derive an affluent market strategy (why or why not) for a product type(s) and at a specific location? What are the essentials for implementation? 

The program participants will also integrate the decision-making framework into their overall human capital. The executives and managers in this program will recognize the entrepreneurship and application of business skills required in markets promoting industries that address affluent lifestyles and service economies. The participants will see how these activities are related to growth, not only in Miami, but places like Singapore and Panama City, Panama. 

Lectures and Academic Presentations 

The lecture series will address economic base analysis and how wealth creation, real estate, affluent activities and business services are linked. The first objective is to truly understand economic base, wealth trends and affluence. The second goal is to develop a framework on how to assess industries that might be atypical. For example, while real estate has traditionally been considered a tertiary activity not related directly to the creation of base economic activity, the lectures will highlight how this has changed and how certain markets, especially those addressing global elites can benefit. Growth in the high-net-worth households is also addressed. How the market has responded to the technological and marketing opportunities related to an affluent class that can control leisure and work environments will be addressed. If your wealth and work environment are portable, how and where and with what required amenities and legal structures become relevant. The fundamentals of real estate supply and demand are addressed as an example of how wealth impacts markets.


*Please note schedule is subject to change.

Program at glance

Saturday, September 15th:
Arrivals
 
Sunday, September 16th:

Morning/Afternoon:
Program Orientation @ 9:30am
Cultural Function

Evening:
Welcome Dinner @ 7:00pm

Monday, September 17th:

Morning:
Economic Base Analysis - Dr. William Hardin FRICS

Afternoon: 
Company visit: The Miami Design District, DACRA The leading development firm in the Miami Design District and includes investments from LVMH’s L Real Estate private equity fund. DACRA has and is transforming a neglected industrial area into a global lifestyle area focused on luxury brands and related lifestyle options.

Evening:
 Dinner on your own
 
Tuesday, September 18th:

Morning:
Debrief: Reflection on Day with Dr. William Hardin / Suzanne Hollander
Digital Links to the Future

Afternoon:

Lunch
Company visit: CBRE. Real Estate Investment & High Net-worth Investors.

Evening:
 
Dinner on your own
 
Wednesday, September 19th:

Morning:
Debrief: Reflection on Day with Dr. William Hardin
Lecture: "Innovation in Luxury Living"

Afternoon:

Lunch
Company Visit: Swire - Brickell City Center 
Developed by Swire and is a mixed use lifestyle center marketed globally and providing an integrated sense of place for residential, retail and office product.

Evening: 
Dinner on your own
 
Thursday, September 20th:

Morning:
Debrief: Reflection on Day with Dr. William Hardin
Lecture: "Wealth & Luxury" - Dr. William Hardin

Afternoon:

Lunch
Company Visit: Baptist Health
International Healthcare: Cardio Specialization

Evening: 

Optional: FIU Campus Tour/Shopping & “Cafecito” stop at Versailles
Dinner on your own
 
Friday, September 21st:

Morning:
Real Estate Leadership Breakfast Series Event
 
 
Afternoon: 
Lunch on Own
Round Table Discussion
Presentations (7-10 minute team presentations)
Presentation of Certificates 
Evaluations

Evening: 
Closing Dinner @ 7:00pm
 
Saturday, September 22nd:
Optional Excursion Ideas: see staff for recommendations
Departures
William G. Hardin, Ph.D.

Dr. Hardin is an internationally recognized expert on commercial real estate markets, financial markets and securitized real estate. He is Co-Editor of Journal of Real Estate
Practice and Education and is an elected member of the board of directors of the American Real Estate Society. He is also Director of Publications for the American Real Estate Society. He also serves on the editorial board of Journal of Real Estate Research and the editorial review board of The Appraisal Journal. Four of his papers have won best manuscript awards at the annual American Real Estate Society meetings. Dr. Hardin worked in commercial banking and development prior to earning his terminal
degree. Dr. Hardin received his doctorate from Georgia State University. He is the Associate Dean of the Chapman Graduate School of Business and Director of the Jerome Bain Real Estate Institute.
Click here to learn further about Dr. William Hardin.



Suzanne Hollander, JD  

Suzanne is an attorney and broker teaching real estate law, development and property rights at Florida International University. Suzanne works with investors in U.S. Real
Estate, both domestic and foreign on the purchase, sale and management of real estate and exercise of property rights and speaks frequently on the exercise of property rights to audiences around the world. Suzanne is the Vice Chair of the City of Miami Beach Affordable Housing Advisory Board, appointed to the Board by the City of Miami Beach Mayor and City Commission. Suzanne is a Committee Co-Chair with Commercial Real Estate Women Miami. Suzanne graduated cum laude from Dartmouth College and magna cum laude from the University Of Miami School Of Law, where she was awarded the Soia Mentschikoff Scholarship, a full tuition academic scholarship. She speaks English and Spanish.
Click here to learn further about Professor Suzanne Hollander.


George M. Marakas, Ph.D. 

Dr. Marakas is a Professor of Information Systems and ISBA Doctoral Program Director at the College of Business Administration at Florida International University. His teaching
expertise includes Systems Analysis and Design, Technology-Assisted Decision Making, Electronic Commerce, Management of IS Resources, Behavioral IS Research Methods,
Business Intelligence, Data Mining, and Data Visualization and Decision Support. In addition, George is an active researcher in the area of Systems Analysis Methods, Data
Mining and Visualization, Creativity Enhancement, Conceptual Data Modeling, Technology Acceptance, and Computer Self-Efficacy. Dr. Marakas received his Ph.D. in
Information Systems from Florida International University and his MBA from Colorado State University. Preceding his academic career, he enjoyed a highly successful career
in the banking and real estate industries. His corporate experience includes senior management positions with Continental Illinois National Bank and the Federal Deposit
Insurance Corporation. In addition, George served as President and CEO for CMC Group, Inc., a major real estate development firm in Miami, FL for three years.
Click here to learn further about Dr. George Marakas.




Flavio Carrillo  

Flavio is a faculty administrator and director of the Capital Markets Lab. Flavio received a Master of Music from the University of Miami, Coral Gables in 1996, an MBA from
Florida International University with a concentration in Finance in 2004 and a Master of Science in Finance in 2004. He is a member of Beta Gamma Sigma, the honor society serving business programs accredited by AACSB International – The Association of Advance Collegiate Schools of Business. Flavio is also the founder and President of Microsigma Capital Management, LLC, a Registered Investment Advisor affiliated with Raymond James’ Investment Advisors Division. Microsigma, a quantitatively focused investment firm in operation since 2006, specializes in the construction of optimal (Mean-Variance) portfolios via the utilization of money managers.
Recently, Flavio was appointed Facilitator and Committee Chair for the National Academy of Finance’s NAFTrack Post-Secondary program. He will lead national efforts to provide an accelerated, seamless transition from high school to higher education for NAF students.
Click here to learn further about Professor Flavio Carrillo.

2018 Accommodation Rates 

NOTE: FIU would like to re-emphasize the importance of securing travel insurance. FIU is not responsible for any booking arrangements with hotels or common air carriers. Each participant is responsible for any travel cancellation policy imposed by the respective hotel/airline/booking agency used to secure their reservations.

 

Hotel Option 1: Aloft Miami Brickell

Address: 

1001 SW 2nd Ave
Miami, FL 33130
Distance: 900 m / 0.6 mi walking distance from FIU (click here for map)

Phone reservations: 
1-888-625-4988, group reference: FIU MBA Consortium 2018
Online reservations: Click on this link FIU EMBA Residency
Booking deadline: 
August 24, 2018

Room Fees:
 

Single King $129/night

Double Queen $149/night (plus taxes/fees)
Hotel rate includes continental breakfast.

 

Other amenities included: complimentary bottled water and coffee, high-speed internet, reduced valet $15 USD per vehicle, Aloft signature platform bed, walk-in shower, mini-fridge.

An early departure fee of $129 USD will apply if a guest checks out prior to the confirmed check out date.

Transportation Notice: We will only provide transportation to/from the selected hotel. Participants are free to stay elsewhere; however, if they do so, they will have to arrange their own transportation to either the University or to one of the suggested hotels for pick-up. We will also provide transportation only during program activities and company visits, as needed.

Each participant is responsible for their transportation arrangements to/from the airport/hotel upon departure/arrival. Please note that FIU is not responsible for any transaction settled between students and this hotel.


Hotel Option 2: SLS Brickell Hotel & Residence

 

Address:

1300 S Miami Avenue

Miami, FL 33130
Distance: 400 m / 0.2 mi walking distance from FIU (click here for map)


Phone reservations: 1-866-211-0420 and reference group name: FIU EMBA Consortium

Online Reservations: Click on this booking link and use group code: 189FIU 

Booking deadline: August 16, 2018

Room Fees: 

Run of House $199/night (plus taxes/fees)

Premier Double/Double $199/night (plus taxes/fees)
Hotel rate includes a breakfast credit of $20.00 per room at Fi’lia by Michael Schwartz. Each guest will be responsible for breakfast overages exceeding the $20.00 allowance.

 

Other amenities included one complimentary drink voucher (1 per guest), complimentary morning coffee station, Wi-Fi in room & public, 24 hour gym access, same day laundering of gym clothes (2 pieces/day), pressing (2 pieces/day), beach access at Delano with two beach chairs/towels, sauna and steam room access, shoeshine services, digital newspaper access (NY Times & Financial Times), complimentary local calls, and discounted shipping and packaging services via FedEx and 20% discount off Ceil Spa services and priority access to sbe Miami venues.

Transportation Notice: We will only provide transportation to/from the selected hotel. Participants are free to stay elsewhere; however, if they do so, they will have to arrange their own transportation to either the University or to one of the suggested hotels for pick-up. We will also provide transportation only during program activities and company visits. 

Each participant is responsible for their transportation arrangements to/from the airport/hotel upon departure/arrival. Please note that FIU is not responsible for any transaction settled between students and this hotel.

 

2018 Coming soon!

Month of September 2017:

Miami Spice - The Miami Spice promotion encourages diners to visit Miami-Dade County restaurants during the industry’s slowest months. This year, the lunch prices will be set at $23 a person; dinner at $39. Promotion runs from August 1 – September 30. Click here to view the participating restaurants and menus.

Florida Adventure Pass - From animal interactions, lush botanical gardens to art expression, science and technology, the South Florida Adventure Pass boasts adventures of all kinds. The pass is also available at PAMM, granting unlimited admission to each attraction until September 30, 2017. The South Florida Adventure Pass must be purchased in person and is not available online. The cost is $45 per adult and $35 per child. For more information, please visit southfloridaadventurepass.com.

Sept. 9-17: Miami International Auto Show - In 1971, Datsun introduced the 240Z, gasoline was 36 cents a gallon and the Miami lnternational Auto Show launched its first exhibition. Today, this same show is recognized as one of the largest and most prestigious in the nation.

A venue for national product introductions, the auto show showcases more than a thousand new vehicles from over 40 manufacturers from around the world - a collection that auto enthusiasts wait all year to see. 

Building from a momentous show in 2016, this signature South Florida event is back with popular returning exhibits, including Topless in Miami's display of convertible cars in a picturesque Miami environment, and Havana Classics, a spin-off of Memory Lane celebrating nostalgia of the 50s. Ride & Drive events, including Camp Jeep will also be back at Convention Center Drive. Buy tickets here. Admission: $15 

Location: Miami Beach Convention Center | 1901 Convention Center Dr., Miami Beach, FL33139 http://www.sfliautoshow.com/

Sept. 15: Free Fridays at the FIU Wolfsonian - Learn more about The Wolfsonian and related art and design themes during a 45-minute free guided tour of the permanent collection or temporary exhibitions. Free guided tour: 6:00pm-6:45pm.

http://www.wolfsonian.org/visit  | 1001 Washington Avenue, Miami, FL 33139 | +1-305-531-1001

Sept 15: Depeche Mode Concert - Depeche Mode continues to roll out their Global Spirit Tour, with the second leg bringing their stunning live show to fans across North America this fall. Buy tickets here.

Sept. 15-17: Marlins vs. Brewers - Enjoy either Burger & Beer Fridays, Marlins Floral Cap Saturday or Christian Yelich Bobblehad Sunday. For schedule and ticket information click here.

Sept. 16: Miami River Explorers - Enjoy a relaxing boat ride along the historic Miami River with HistoryMiami Museum guide Pepe Menendez. Learn the story of the Miami River from the late 19th century and hear tales of the area’s earliest known inhabitants, the Tequesta Indians, all while cruising through Miami’s Downtown. See hidden neighborhoods and little known sites. Click here to register online. Tour time: 10am-12:00pm.

*No audio or video photography, please. Please note that there are no refunds or exchanges. Onsite registration will incur a $10 per person surcharge. Rates subject to change.

Location: Island Queen at Bayside Marketplace, 401 Biscayne Boulevard, Miami, FL 33132

By History Miami Museum http://www.historymiami.org/city-tour/miami-river-explorers/

Sept. 16: Sunset Saturdays – Sunset pool party at the rooftop of Atton Miami hotel with music, signature bites and half price drinks.

Atton Miami Hotel | 1500 SW 1 Ave, Miami, FL https://allevents.in/miami/sunset-saturday-at-atton-miami/398892527153311

Sept. 18-20: Marlins vs. Mets – Enjoy Salute & Serve Monday or Half-Priced Tuesdays. For schedule and ticket information click here.

Sept. 19: Mumford & Sons Concert - Pre-sale tickets go on sale Thursday, June 22nd at 10 a.m. General tickets to the public go on sale Friday, June 23rd at 10 a.m. Buy tickets here.

Sept. 19-21: Miami Marlins vs. Washington Nationals - Live MLB Baseball game featuring the Miami Marlins. For schedule and ticket information click here.

Sept. 21-24: Miami Fashion Film Festival - Adding to Miami's art and cultural offerings, the Miami Fashion Film Festival (MIAFFF) celebrates the films and filmmakers that creatively examine the art, culture, and business of fashion, both locally and internationally. www.miafff.com

Museums and Visual Art

Historical

Entertainment, Food, Recreation, Shopping and Sports

 

Student Experiences (Photos & Videos)

EMBAConsortium