"Dreams without goals are just dreams."

Eleven years ago, Nemanja Lazendić came to Austria - without speaking a word of German. Today he works as an Operations Manager at Intermarket Bank AG (Erste Group) and is responsible for the factoring product "ErsteConfirming". In between, he successfully completed a part-time Bachelor's degree, a Master's degree and most recently an MBA.

On your LinkedIn page you say that “The best investment in uncertain times begins with yourself”. Why do you think so?

I think in uncertain times the only guarantee we have is ourselves. As much as we invest in ourselves and grow personally, the more secure we feel, and this ultimately reflects on our environment. That is why I am categorically focused on self-growth. If you invest in your education, you benefit in many ways, like flourishing your skills set, including cultural and emotional skills. Especially in a leadership role, one must be able to understand somebody else's perspective too, and this is exactly where EQ plays a crucial role.

This brings me to my next question. How did your decision to pursue an MBA mature?

It came step by step. When I started my bachelor, I didn't know that I would go for a master's degree and when I did my master’s degree, I didn’t know that I would go for an MBA. I think this is a great example on how success and goals, which you set for yourself, push you further.  

When I started my bachelor’s degree, I wanted to finish it.  Like every student I wanted to find a good job, have a decent life, have some securities. The moment I reached this goal, I wanted to go further. Two months after my bachelor’s graduation I applied for a master’s programme and specialised in International Finance and Banking. It did not take much more than a year when I caught myself googling and checking MBA programs.

What was the driver?

I felt I was not learning as much as I used to, and it was wake up call for me. Comfort Zone is sometimes good, and it is normal, but it does not nurture growth. It is important for me to learn a lot and to reflect on what I have learned. By the way, this was one of the main differences between my master studies and MBA studies. I was a more mature person when I started my MBA. This time I wanted to reflect on what I have learned, and I wanted to connect with my classmates and professors more than ever before, understanding all benefits that come along.

I came to Austria 11 years ago and had to learn German from scratch. I knew I had to work harder than others to have the same opportunities. I am willing to go the extra mile to achieve my goals. Dreams without goals are just dreams. The MBA has brought me into an environment that has opened up new opportunities and has been very beneficial for me.

Why did you decide for the One Year MBA?

I chose the MBA because I wanted to broaden my horizons. I had done both my bachelor’s and master's degrees in Banking and Finance. Now I was ready to move towards general management.

How did your Family react on your decision?

At the beginning, my family questioned my decision, but I managed to explain them that in this stage of my career this would be most beneficial, and that I do not expect payback tomorrow. This is a lifetime investment and the moment I get the most out of it I will know it.

How did you like it to study again?

I love being at the university. I really do. I enjoyed the discussions and exchange of opinions and ideas with my fellow students and lectures a lot. They are very bright people, and it is fun to compete with them. The diversity of the students was also very stimulating. Apart from me, there was no one from banking. They came from various industries, aviation, pharmaceutical industry and others.

In our “Transformative Management” class with Professor Barbara Brenner, we had a case study from banking. It was very interesting to see how my fellow students approached it. Their way of thinking, their perceptions and their approaches. This helped me a lot to understand how other people, including my clients, see banking. I think it is a very powerful skill to be able to look at a situation from different angles.

You currently work as Operations Manager for Reverse Factoring at Intermarket Bank AG, which belongs to Erste Group and is specialized in supply chain finance. Can you explain what you're doing in your job?

I work in factoring, and I am an operations manager for a product called "ErsteConfirming". Let’s say there is a supplier and a buyer. However, there is a „natural“conflict of interest between buyers and suppliers regarding the agreement of payment terms. Suppliers seek to be paid as early as possible, while buyers wish to pay as late as possible. Our product helps to solve this conflict – to the advantage of both partners.

It is a fully automated payment transaction product for confirmed and yet outstanding invoices, providing the supplier with an option of advancing these invoices prior to due date on a web-based platform. I take care of everything that has to do with it. From the technical setup on the platform, to the communication with the client in case of payment problems or other issues. I do this together with a colleague from sales who is responsible for the sales part. 

I worked as an IT consultant in my previous job. That helps me enormously now because I am involved in many processes at the bank with different departments, like payments, IT, etc. I have to understand certain processes amount of all involved departments, and I find that very exciting.

You worked as an IT consultant for CRM Dynamics 365 at ace GmbH in your previous job.

Yes, that's right. After my bachelor's degree, I took the step into the IT industry very consciously. It was clear to me that everything was moving in the direction of IT, including Finance & Banking.  It was a challenging and rewarding time for me because I saw that I could prove myself in an unfamiliar environment. I had to learn everything from scratch. Of course, it was hard. Today, I benefit from my experience in the IT industry.

By the way, I think that is an important pillar of studying, equipping you with all necessary tools to learn quickly in a new job or environment.

What did you like most about your MBA?

People. That's the first thing that comes to my mind. I have met really amazing people. Besides studying, it's about meeting interesting people and being challenged by them. Secondly, I also liked the professors. We worked in small groups, which helped to ensure that we were not just a number, but were in close contact, including with our professors. I also really enjoyed working on the case studies. Some of them I will probably remember for a lifetime. The quality of the teaching and the professors was high, and the organisation was very good from day one.

What was the hardest part of the MBA?

I actually wanted to do the MBA on Campus. But due to the corona pandemic, that was not possible. We partly had to switch to online mode, which was a challenge for me at the beginning. But it was also very interesting to see how the interaction happens online and how it happens in presence. Of course, the discussions are much better when you meet in person.

I definitely recommend a good mix between online and face-to-face phases for an MBA program. Both have their strengths, but you can't really measure the value of face-to-face contact. It is priceless. I am still in contact with many of my fellow students.

You were an excellent student. You completed your MBA studies in the minimum time of one year - including your master’s thesis - and achieved very good grades on your exams. And all this alongside your job and family life. How do you motivate yourself?

What I learned early on is that discipline and consistency really pay off. Even as a child I noticed that good self-organisation is useful. I always had time to go out and meet my friends and do my schoolwork. Even today, I do tasks immediately. I don't wait. Every time we were given an assignment during my studies, I completed it instantly without hesitation. Even if our professors said we had three months. The advantage is that one remembers the content and discussions very well if you do your assignments right after class. It's much more efficient. I stand behind this doctrine in business as well. It pays off to face a task or a topic as soon as it comes up.

You are obviously very efficient. Yet you seem relaxed to me. How do you manage that?

Good organisation and my personal environment, like my family, friends, and colleagues, are playing a vital role to me. Of course, I am not top-motivated every day either. But I seek to remind myself every day on my dreams and goals, since I like to walk a lot and listen to music, this became my favourite time for this kind of intrinsic motivation. During that time, I refocus and recharge my batteries keeping in mind to be grateful for everything what I already have.

Of course, I also do sports, I love basketball, go to gym and I also like to meet friends. I am an extroverted person, pure social butterfly. I like to be in touch with other people who are positive, because the good energy is crucial for me, including a good dose of laughter every day.

But it's also important to understand how to set goals: short-term, medium-term, and long-term. To achieve your long-term goals, you need successes along the way, otherwise you might get tired, and this can eventually lead to a loss of motivation or disappointment. The secret is in the small battles.

What is your next step?

I am focused on my career this year. That's the goal for 2023, and very soon I will do another certificate. I already started the process inside the bank, for which I have already received the support from my superiors, and this stimulates me further in the right direction.

Apart from banking and finance, which is my core interest, I want to develop further towards general management to take a leadership role one day. I want to keep learning and prepare myself for the unknown, because to get something you never had, you have to do something you never did. I think that is what drives me the most.