Business Insights from Morocco and Spain
Medina in Marrakech, Morocco—a vibrant fusion of tradition and commerce Photo credit: iStock
Emerging markets have always fascinated me, not just for their complexity, but for their resilience and ingenuity. As an MBA candidate and Emerging Markets Institute Fellow, I traveled to Morocco and Spain on a trek sponsored by the Foster Cunningham Fund at the Cornell SC Johnson College of Business, and it gave me the opportunity to examine how innovation, entrepreneurship, and hospitality serve as engines for economic evolution in two very different but interconnected markets. The experience challenged me intellectually and personally, offering practical context for the theories and frameworks we explored in the classroom.
Morocco: Innovation rooted in heritage
Morocco offered a striking blend of traditional craftsmanship and bold entrepreneurial spirit. In Marrakech, one of the most memorable site visits was to La Mamounia, a hotel that serves as both a symbol of Moroccan heritage and a global brand of luxury. We observed how its management integrates cultural authenticity with modern hospitality practices to create a timeless guest experience. This attention to detail and brand storytelling serves as a competitive differentiator in the crowded tourism sector.
Equally impressive was how small business owners in the medinas, the mazelike historic quarters of Moroccan cities, demonstrated innovation through resourcefulness. From spice traders to argan oil cooperatives, local businesses not only survive, but thrive by delivering high-quality, culturally rooted experiences while adapting to global consumer preferences. It deepened my appreciation of what entrepreneurship looks like in practice when infrastructure and capital are limited, but creativity and community are abundant.
These interactions also reminded me how informal economies serve as backbones of employment and ingenuity in emerging markets. Many entrepreneurs operate without digital infrastructure, yet their mastery of relationships, negotiation, and brand differentiation would rival any formal retail executive’s.
Spain: Legacy meets reinvention
In Spain, the story was one of transformation. In Barcelona, our visit to Grifols, a global manufacturer of plasma-derived medicines, provided a look inside one of the country’s most sophisticated biotech firms. Grifols, a cornerstone of the Spanish pharmaceutical economy, is a case study in scaling innovation within a highly regulated industry. As a pharmacist stepping into a corporate role in the pharmaceutical sector, I found Grifols’ strategy around research and development investment and its ethical data use particularly resonant.
The company’s investment in global plasma collection networks while maintaining rigorous compliance frameworks demonstrated how science-driven innovation can thrive in complex, multicultural settings. It also sparked my curiosity about how patient outcomes can be improved through better integration of public health systems and private innovation.
At El Corte Inglés, Spain’s largest department store group, we were introduced to a retail model that combines legacy operations with digital evolution. The company’s leaders shared how they are adapting to omnichannel shopping trends, rethinking store formats, and elevating customer service through digital tools. It reminded me that even the most traditional business models must be dynamic to remain relevant—a lesson that applies to every sector including healthcare.
These visits illustrated how innovation looks different across sectors but ultimately stems from the same entrepreneurial mindset: identify a changing need and respond meaningfully.
Hospitality as national strategy
A major theme throughout the trek was the role of hospitality as a national business asset. In Morocco, hospitality is deeply ingrained in the culture and extends seamlessly into its economic identity. Whether in a desert camp or a high-end riad—a palace-like hotel or guest house usually built around a courtyard—the hospitality industry was more than service; it was storytelling. That storytelling creates emotional value and brand loyalty that cannot be replicated by scale alone.
In Spain, hospitality took a different but equally strategic form, especially in retail, food, and customer experience. A visit to a local chocolatier in Barcelona, Torrons Vicens, showed how traditional craft and personalization can capture hearts in a digital world. It reminded me that hospitality is not limited to tourism; it’s a mindset and a business strategy.
As someone passionate about customer and patient experience, I found myself drawing parallels between how luxury brands elevate care and how healthcare systems might do the same, placing the human being at the center of every solution.
Leadership, learning, and looking forward
This trek reinforced that leadership in emerging markets requires more than technical expertise. It demands cultural humility, contextual intelligence, and an ability to spot opportunity in places that others overlook. From the back alleys of the Marrakech souks—bazaar-like marketplaces—to the sleek conference rooms of Barcelona, I observed leaders who were not only solving today’s problems but building tomorrow’s narratives.
As I prepare to enter the pharmaceutical industry in a finance-focused role, I take with me the lessons learned from this trek: the value of resilience, the importance of embedding culture into business strategy, and the power of cross-border collaboration. I am more committed than ever to building solutions that are not only profitable, but also culturally aware and socially impactful.
About the author
Nana Ofosuah Frimpong is a Cornell MBA graduate and pharmacist with a passion for emerging markets and sustainable business development. Originally from Ghana, she brings a multicultural lens to leadership, with a strong interest in innovation, entrepreneurship, and healthcare strategy. In the pharmaceutical industry, she plans to merge data-driven insight with inclusive decision-making.
All views expressed in articles published on the Emerging Markets Institute webpage are those of the author(s) and should not be taken as reflecting the views of the Emerging Markets Institute.