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Business Division

A Summer Break Casts Doubts on Columbus

October 2005

Michael Lagoni had suspected the world was flat (see article by Dr. Ebert) shortly after arriving at Baldwin- Wallace College three years ago. His coursework and observations furthered his belief that technology and other advancements were normalizing global economic conditions, practically eliminating any comparative advantage enjoyed by one country or any region relative to another.

Now starting his senior year, the finance major/economics minor committed himself early on at B-W to testing his theory. He did so long before Thomas Friedman of the New York Times published a book that explains the economic phenomenon now underway as a result of global supply chains that deliver everything from components to white-collar labor.

Thus, Lagoni spent his summer break in India. He visited the leading corporate, financial and educational institutions of the U.S. trading partner. His experiences resulted in a better understanding of the global marketplace and how he might one day participate in it with a Northeast Ohio-based company or possibly his own entrepreneurial enterprise.

“Outsourcing, offshoring and globalization have really captured my interests over the past few years,” Lagoni said. “As India continues to open its economy, I.m sure the trend will continue with more trade, more outsourcing and more highly integrated global systems, which is a good thing.”

Inspired and hosted by his residence hall peers Kshitij and Mehul Thakur, Lagoni began planning in his sophomore year for his summer exploration, allowing the aspiring investment banker to spend eight weeks understanding the India marketplace, its people and its culture. Lagoni.s hosts helped him arrange meetings with executives and leaders at the Bombay Stock Exchange, the Sutherland Group, which manages a call center and other business staffing offerings, and the Indian Institute of Technology and the Indian Institute of Management, to name just a few stops. Regardless of where he was visiting or with whom, his Indian acquaintances wanted an answer to the same question: Is India's growing economic power truly shaking up markets in the U.S.?

Visiting India was a reality check for Lagoni as well. His understanding of U.S. and global economies had always been from a textbook vantage, which “was more like a rearview mirror,” he said. “I now understand global trends and how they're shaping the future.

“While in India, I realized that entrepreneurial activity is the backbone of any economy,” Lagoni said. “As a student-consultant in B-W.s Business Clinic, I now better understand how global markets are shaping and guiding entrepreneurs who are innovating new products and businesses and creating jobs. These combined experiences are delivering new meaning to my B-W education and my commitment to contributing to Northeast Ohio's comparative advantage in the global economy.”

Lagoni's thirst for knowledge comes as no surprise to Phil Bessler, associate professor and director of B-W's Business Clinic. “Since I first met him as a freshman involved in SIFE (Students in Free Enterprise), I have continually been impressed with his skills, knowledge and ability to learn,” Bessler said. “I have very high expectations for Michael and I am working with him now to help him explore his next steps after graduating from B-W.”