Years ago, Penn alum Alfredo Carvajal was just a typical Penn student who spent most of his time playing soccer and taking advantage of the "sink or swim" drink specials at Smokey Joe's.
But last night, Penn students and Wharton staff members gathered to recognize Carvajal -- a Class of 1959 Wharton graduate -- for being everything but typical.
Carvajal traveled all the way from Colombia to receive the 2003 Wharton Distinguished Alumnus Award for excellence in business, philanthropy and community service. Following the award ceremony, Carvajal went on to speak about his business endeavors in both Latin America and the United States.
"First of all, the business environment in Latin America has been very unstable in the past," Carvajal admitted.
But that did not seem to limit Carvajal's success, as he now heads Carvajal Group International -- a company that specializes in everything from publishing and electronic commerce to hotel furniture manufacturing.
Carvajal attributed his successful business relations to his awareness of not only the economic situations in Latin American countries, but also their political and social states as well.
"You must take into account the cultural differences throughout Latin America and be aware of the political and social issues going on," Carvajal said.
He also spoke about the unstable nature of the Latin American economy, but insisted that taking risks is the only way to see real success.
"Uncertainty is the only certainty," Carvajal said. "But you have to distribute the risk by operating in several countries and having a diversified portfolio of services."
And Carvajal is the living proof that his strategies work, as the company's products are exported to more than 57 countries worldwide and successfully operate in almost every country in Latin America.
Working directly with the customers was another useful strategy Carvajal mentioned.
"You have to keep up with changing needs," Carvajal said. "You always need some cooperation from the community."
Many Penn students said they came to the event because they felt connected by their Latino backgrounds and saw Carvajal as a role model for their own business aspirations.
"I'm from Colombia, and I am a political science and economics major," College junior Camila Aguirre said. "It's very interesting to hear the perspective of someone who's worked on both [the international and domestic] sides."
And many students found themselves with a few more international business strategies in mind when they left.
"I came because he is a very successful business man in Latin America, and we can all benefit from what he has to say," Wharton junior Marvin Diaz said.
The Wharton Latino Undergraduate Association presented the award.
