JOAN JOVÉ
HARVARD MBA 2008
WORKED WITH SUSANA BALBO AT DOMINIO DEL PLATA
I worked with Susana Balbo, an entrepreneur that owns the winery Dominio del Plata in Argentina. Susana is a self-made entrepreneur. In 2001, while Argentina’s economy was stumbling, Susana took the bold decision to leverage most of her personal savings and build her own winery. Her success with Dominio del Plata has been nothing short of extraordinary. Dominio del Plata has been growing at a 50% since it was founded seven years ago. Additionally, Susana is the president of the “Wines of Argentina” organization that associates almost all Argentinean wineries to promote their wine outside their country.
When I arrived, her company was facing complex organizational and strategic issues. My first main task was to establish control systems and formal information flows among the different levels of employees. This process required implementing of a new IT system, defining an incentive program for mid-managers and reallocating responsibilities. Additionally, I worked on developing a planning model that is going to be used as a basis for the budget of the company in the next two years. Finally, I worked directly with Susana in analyzing a key strategic decision, whether to broaden the company’s investor base to include external investors.
I would summarize my development in three areas: wine industry knowledge, entrepreneurial challenges and developing country challenges. First, I had the chance to learn a lot about the wine industry. Moreover, as I worked for a very small company I could understand many details from different business areas as marketing, sales, logistics or operations. Second, I was able to understand how difficult it is to create a positive and motivating environment in a fast-growing company when new people are being hired every month. I could also see the dilemma of the founders when the company achieves a certain size and the next step to follow is not clear: grow, remain stable or monetize the investment? The experience was extremely inspiring and it help me envision my long-term plan to become an entrepreneur. Lastly, I understood some of the challenges of working in a developing country. Argentina has a highly instable economy where it is crucial to hedge against the main risks. For example, Dominio del Plata had the policy to export more than 95% in order to minimize the impact of a local crisis.
At a personal level, I had a great time as I got to know many interesting people from Mendoza. My colleagues at work where extremely nice and I end up knowing their families and friends. I had the chance to enjoy many “parrilladas” (Argentinean barbeques), go skiing and do unique wine tasting. It was an extraordinary rewarding and unique experience that I would recommend to any MBA student for their summer internship.
