Medical designer Enztec gets high marks from MIT
Enztec, known internationally for its innovative orthopaedic devices, was the recipient of both praise and invaluable business advice after being visited by a team of MBA candidates from the MIT Sloan School of Management.
The four visitors spent three weeks at the company’s Christchurch headquarters as part of the Global Entrepreneurship Lab, or GLab, a component of their university training. The GLab matches teams of MBA students with international high-tech companies to provide hands-on experience running an enterprise outside of the United States.
Enztec designs and manufactures high end medical instrumentation for the orthopaedic market, an industry that requires an exceptional level of precision and quality. "The instruments we make here in Christchurch are being used in the operating theatre," says Stephen O’Neill, Enztec’s General Manager. "We take our responsibility seriously."
To prepare their findings and recommendations, the students spoke with customers, industry contacts and significant players in the world orthopaedic market with the aim of helping provide clarification to Enztec’s international marketing strategy. The company’s products are sold worldwide, with a focus on Europe and the US.
At their report to Enztec’s six-member Board, the MIT delegates spoke highly of Enztec’s global profile and reputation in the orthopaedics industry.
"Kiwis make up for geographic isolation with quality, competency and skill," praised Bernard Lupien, one of the Americans. "Because you have to be outward looking in order to grow, you tend to work harder to become better."
Bernard also spoke highly of the ‘no worries’ attitude expressed by many New Zealanders – with a caveat. "Overseas businesspeople appreciate the laid-back style of people here, especially when it’s backed up by knowledge and experience."
Stephen says Enztec found the exercise enormously beneficial. "I would have them back again tomorrow if I could. These are clever, commercially savvy individuals with the time and ability to step back and take an objective look at the direction of our company."
When Enztec was first approached by the Foundation for Research, Science and Technology (FRST), Stephen seized the chance to participate in the programme. MIT’s superior reputation is recognised world-wide, with 61 current or former members of the school’s community having won the Nobel Prize.
The highly motivated students who visited Enztec share proven success in a real-world work environment, a prerequisite to being accepted to MIT’s elite MBA programme. They prepared for the trip by studying the issues and policies that affect the climate for innovation and start-up success around the world.
"This was an outstanding opportunity for us," says Bernard. "We learn a tremendous amount by working so closely with a New Zealand exporter. Our goal was to reciprocate by giving Enztec some of our insight into the US market."
BACK