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13 Feb 2014, 13:21
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13 Feb 2014, 13:50
13 Feb 2014, 15:00
| FROM Booth EMBA Blog: Networking becomes a dirty word |
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… is the title of the Financial Times article linked below - written by Neil Bearden. Networking becomes adirty word Bearden states that too many MBAs view their network as some sort of unfeeling tool for professional advancement as opposed to a group of actual real live people with individual hearts and minds. I’ll let you read the article to fill in the finer nuances but to summarize: “Be nice.” I’d take Bearden a step further though. He talks about showing respect when you utilize someone in your network for advice or a connection. I think the trick is being on the other side - being able to provide advice and/or connections or SOMETHING of value to theindividuals in your network. Even better is to do it without being asked – a random check-in or sending an article like this or something to let the people know you are thinking about them and their career or what-have-you. Then, when the time comes for you to actually use your network for something they are much more willing and likely to go the extra mile to help out. Being able to add value to your network as opposed to just using it for your own gain is often overlooked.-->--> Toby-->--> -->--> |
13 Feb 2014, 15:00
| FROM Booth EMBA Blog: Make it count |
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Make the most of every opportunity offered to you at Booth. In addition to the core curriculum, as a Booth student, you’ll be offered a number of optional training courses where your attendance is not required. These range from everything from invited speakers to workshops to questionnaires and debrief. A combination of fatigue, jet lag and impending assignments due make it easy to decide not to bother attending these. After all, I can attend a “presentation skills” workshop at my place of employment and just skip this one, right? Wrong! Wrong, because the high standard Booth applies to its academic offerings also extends to these optional courses. So you’ll be missing out, big time. Let’s take that presentation skills course as an example. I’m sure you’ve all attended one of these at one point. This is where you get given invaluable advice like “remember to prepare properly”, “don’t forget to bring your talk USB stick with you” and “dress professionally”. For those of you who have a habit of rolling up to give that important sales pitch in your gym gear while not being able to find your slides this might have been helpful, but, er, not so much for every one else (a previous place of employment of mine – a bank with a business casual dress code - specifically prohibited the wearing of spandex in the workplace, so I guess some folks need to be told but…). The Booth presentation skills course is nothing like this. We were first presented with scientific evidence as to what people actually remember when they attend a talk. How many arguments or points do they recall 5 mins, 5 days and 5 weeks later? How much training can you cram into one talk and when is it just going to overflow your audience’s short term memory? We were then taught to structure a presentation around this evidence, choosing just the right amount of information for maximum impact. We were also given advice on posture, voice and delivery, filmed presenting and then given tips and suggestions afterwards. (It’s worth pointing out that if this article inspires you to try this at home, you need good audio equipment to pick up the lower frequencies adequately – resulting in an “Alvin and the Chipmunks” effect when you listen to yourself – needless to say Booth’s recording equipment didn’t have this problem). The group who carried out the training spend most of their time advising media professionals and others in the public eye and so definitely knew what they were talking about. I’ve made extensive use of the advice and tips ever since when giving presentations at work and I’ve found it really helpful. The same was true of the evening talk given by Prof Richard Thaler, the personal impact workshop, multiple presentations from the Careers Office, the leadership failures questionnaire and debrief… So, put a note in your diary, and sign up for all of these in advance. Make it hard for yourself to back out just because you’re tired. It’ll be worth it. The coffee and red bull stash is located directly outside the lecture theatre. Help yourself! Donnla Nic Gearailt EXP-19 |
27 Feb 2014, 11:00
| FROM Booth EMBA Blog: No. We won't |
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I’m in London teaching our EXP19 students during their last week in the program. The culmination will be closing ceremonies on Saturday, though formal graduation is in Chicago a few weeks later.-->--> Yesterday evening I was chatting with a student and he said – “You need to make the program shorter. It is hard.” (I think he was kidding; see below.) -->--> Will we shorten the program or make it easier? No. We won’t.-->--> We can’t, and we don’t want to. Chicago Booth operates 4 MBA programs including the Executive MBA. The faculty decided long ago that all of the programs should have the same degree requirements. Two years ago they voted again, unanimously, to maintain that principal. Thus, our Executive MBA students have to take the same Foundations classes, the same number of classes in Functional areas, have the same requirements for Leadership classes, etc. Moreover, faculty are expected to use the same texts, course content, and exams as in our other programs. The culture of the University of Chicago is serious and rigorous, and that extends throughout Booth. We are confident that our Executive MBA program is the most rigorous and academically challenging in the world.-->--> This isn’t an easy road to take, for us or our students. How do we implement this?-->--> First, quality control of faculty and courses. We don’t partner with other schools. We fly our professors to London and Hong Kong to teach. That’s costly and impossible to scale. We use seasoned faculty, as our students are highly diverse in experience and geography, and have extensive experience.-->--> Second, we provide extensive academic support so that students can absorb the material. At the beginning of the program they take a course in Analytical Methods to refresh their understanding of quantitative methods and basic statistics so that they have the right foundation. Each course has one or two PhD students who are teaching assistants for the professors. We fly them to London and Hong Kong, too, so that they are personally available to students during class weeks. Finally, Adjunct Assistant Professor Kathleen Fitzgerald serves as Director of Academic Support. She provides support, online review sessions, and advice to all students and faculty from the beginning to the end of the program. She, the faculty and TAs are available via email, phone, Skype etc. to help students with questions between class weeks.-->--> Third, we use continuous improvement. Faculty and TAs are evaluated by students, and use the feedback to improve their courses. We use a variety of other surveys and focus groups to get student and faculty input about the program. We experiment with new methods to improve student recruiting.-->--> Finally, the students work very hard, and they think very hard.-->--> We won’t shorten the program or make it easier. If you are considering our Executive MBA program, please know what to expect. It is a considerable investment on your part. You will work hard. It will be intense. But you will also be transformed.-->--> I think the student was kidding; he made the comment with a smirk. As he graduates I expect that he is glad we don’t water down the program. He will be proud of his accomplishment, and know that he received the best Executive MBA education available.-->--> Mike Gibbs-->--> |
03 Mar 2014, 10:00
| FROM Booth EMBA Blog: Godspeed on your journey |
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Suddenly, there are three weeks left to finish this Executive MBA at Booth. Twenty-one days. Two class weekends. One week of concentration classes. Three more exams. A stack of coursebooks nine inches high. As my daughter reacted: "Whaaat..?!?" Ah, yes, this was the program I wanted, because it would be hard. I got what I wanted. Oh, and how. But two years of preparation, study, assessment, frustration, learning and adjustment are nearly over. Many business frameworks and a few larger truths have come into focus. Let's assume you will take up the challenge, be accepted, and carry through with it. Let's assume that you, too, will digest this bookshelf beside me -- 12 linear feet of material -- and learn financial accounting, micro- and macroeconomics, operations, corporate finance and financial strategy, competitive strategy, cross-border valuation, quantitative marketing, pricing, negotiations, new product development, cost accounting, marketing management, statistics, negotiations and the rest. Let's assume that, because all of us do it. Here are the wiser things I also took away on top of all of that: -- It is precisely when we are the most frustrated and desperate that we are learning the most. It is the sense of frustration, Mike Gibbs counseled early on, that signals we are climbing the learning curve. Always keep pushing until you feel frustrated. Then push a bit further. Be suspicious of confidence. That's the flat bit at the top of the curve; time to start a new curve. -- We all juggle work, coursework, family life. You cannot fail at family life. It's the one thing that makes the others possible. -- To learn something unfamiliar, stats professor Rob McCullough reassured us, "you just need to spend some lonely time. It'll make sense." He talked also of the "interocular test": When it makes sense, it'll hit you right between the eyes. -- Learn to un-lever and re-lever betas. For heaven's sake, this isn't kindergarten. Dread no calculation. -- In a room like the one put together (painstakingly) for the EMBA program, each conversation is an interview, no matter how casual, one classmate said. He was right. Each interaction is about your professional reputation, and you're having it with the most important people you'll know moving forward in your career. -- Take on the extra work. Tonight comes the key ceremony, when the Student Activity Council for XP-83 (which I'm on), turns over the "Key of Knowledge" to XP-84. Wine will be served. It is an amusingly large key. Suddenly, I'm transported back a year (Terrifying! What if I had to go back?) to the night when XP-82 handed us the key. They seemed so much smarter than we were. Certainly more tired. I've gotten to know them more since. I look at the '84's, and they seem so much smarter than we are. And they're not, either. And we're certainly more tired. But this is how it goes. We strive. We apply ourselves. Some move on. Others join us. We learn. We help one another. And it never stops. If this is for you ... well ... welcome, then. You're joining an accomplished crowd. If it makes you nervous, it should. You have to feel that to begin learning. But learn you will. Learn we did. And learn we'll all keep on doing, now that we really know how. Godspeed on your journey.-->--> -- James Janega, XP-83, Booth MBA class of 2014. -->--> |
08 Mar 2014, 12:02
13 Mar 2014, 14:01
| FROM Booth EMBA Blog: Your EMBA - Network or Expertise? |
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I keep hearing about many Executive MBA programs whose major selling point is their network. These programs seem to attract all the “right” people and promote the connections that you will make when you join the program. However, they don’t seem to say much about how much you’ll learn. -->--> Now, don’t get me wrong, I think building a network is a critically important part of any EMBA program, but it shouldn’t be the main benefit. It’s much more important that you actually learn something in the program and develop some skills and expertise that make you more valuable to your employer and your organization. What good is a great network if you don’t know how to leverage those connections, see opportunities, make effective decisions and set an appropriate course for your organization? If the network is all you want, the local golf club or the cocktail party circuit is a lot cheaper way to build your connections. Bill Kooser Associate Dean for Global Outreach William W. (Bill) Kooser is the Associate Dean for Global Outreach at the University of Chicago Booth School of Business. He is responsible for developing relationships with key government, business, and media leaders to promote the school, and identify ways to further raise the school’s stature and increase activity in Asia. He is based in Hong Kong. Bill has spent over 25 years in higher education and has been a frequent writer and speaker on trends, issues and innovations in the business school industry. You can read more of Bill's insights on his blog BoothAsia Journal. |
01 Apr 2014, 12:00
| FROM Booth EMBA Blog: Thank You. |
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For my recent graduation, I would first like to thank my parents and family: without their support and encouragement I would never have done it. Second, thank the program office, who always helped us with a smile in their face. Third, thank the teachers and TA's, who delivered knowledge in an amazing way. And, finally, thank my cohort and friends around the world, who supported each other at the most difficult times. So, with that, I share my MBA statistics, throughout the CHICAGO BOOTH EXP 21 month Program: C. Courses that I loved: 19; Course that I hated: 1. H. Hours studied in university: 1530, at Home: 1072. I. Insomnia and sleepless nights: 21 months jet-legged C. Countries Visited: 14 A. American Airline Miles traveled: 213000. G. GPA: do you really care? O. Overweight kilos gained (and that need to be lost): 3. B. Birthdays and HH missed: too many!! Forgive me and invite me this year: I'll come! O. Operations (Surgeries): 3 (All is good now!) O. Occupation Changes: 3 (Procter & Gamble, Procurian, Accenture) T. Taxes Recovered in Heathrow Airport: £ 0 (There was always a missing stamp) H. Happy Friends to visit around the world: countless. E. Entrepreneurship Competition: GNVC Finalist with HOPS @Chicago ! X. Xeroxed “Cheat Sheets”: 11 P. Program Value: Priceless. THANK YOU ALL!! Guilherme Silberstein EXP-19 |
25 Apr 2014, 12:00
| FROM Booth EMBA Blog: Advancing in Your Career |
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YOUR EXECUTIVE MBA CAN TAKE YOU FAR Last month was a big deal around Booth. A whole new group of Executive MBA students graduated. This made me think about Executive MBA alumni and how far they have gone. The more I thought about it, the more I smiled. So many alumni have taken started with a goal and used the MBA to realize their aspirations. You might think that everyone has a background in finance (after all, this is Booth). What I learned that successes are as varied as alumni graduating from the Executive MBA program. Here are just a few members of the “Executive MBA Hall of Fame”. Peter Browning (C-Suite) – entered the Executive MBA program with a vision of rising to the C-suite. While a worthy ambition, many people talk about this and yet few achieve it. He spent 24 years with the Continental Can Company, including President of two different divisions. He joined National Gypsum Company and in a year was elected Chairman, President and Chief Executive Officer of National Gypsum Company, seeing the company through and out of bankruptcy. He joined Sonoco Products Company, (a $4 billion global packaging company) where he last served as President and Chief Executive Officer. Today, he sits on several corporate boards and leads a board advisory consultancy. Peter didn’t just hope he would land in the C-Suite, he took calculated risks and leveraged his Booth MBA to get there. Paul Drury (Private Equity) – wanted to pivot his commercial banking experience into a career in private equity. While many dream and even believe they will create a career in PE, few accomplish this. Paul knew he would need to make a commitment and leverage his twelve years at CIT Group managing the Midwest Region’s business development team. Paul was very smart about his search. In many ways, Levine Leichtman Capital Partners ( LLCP), a private equity partnership, was in his sweet spot. LLCP invests in middle-market companies, a segment where Paul was already an expert. At Booth, it’s crucial to know your competitive advantage and capitalize on it. Bryan Johnson (Entrepreneur) – is a serial entrepreneur best known as the Founder of Braintree. Started by Bryan in 2007 and profitably bootstrapped for four years, the company twice qualified as one of the fastest growing businesses in America (Inc. 500 2011 & 2012), acquired peer-to-peer payments provider Venmo, and is regularly covered in Wired, Inc., TechCrunch, NY Times, and The Wall Street Journal. In 2013, the company processed more than $12 billion in payments from all over the world. Braintree was acquired by eBay for $800 million in 2013. Bryan was named to Crain’s Chicago Business Tech 25 in 2011, Tech 50 in 2012 & 2013, and 40 under 40 in 2012. Mega-successful entrepreneurs, like Bryan, grow in the fertile entrepreneurial culture at Booth. Maria Kim: Social (Enterprise Executive) –recently became CEO of the Cara Program, a Chicago-based social purpose organization helping adults affected by homelessness and poverty to secure and sustain quality employment. Previously, as Chief Operating Officer, Maria had oversight of Cara's service delivery across the enterprise – including the recruitment, training, placement, retention and advancement services for the individuals they serve – as well as the visioning of how to bring those services to greater scale. Booth develops many leaders, like Maria, who leverage business knowledge and savvy to do well and to do good. When you look at these alumni and understand each of their stories, you can see what’s possible for you with vision, determination, and a Chicago Booth MBA. More next time, Anita |
23 May 2014, 12:00
| FROM Booth EMBA Blog: The Future of EMBA Programs? |
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In a recent blogpost, Tim Westerbeck, founder and president of Eduvantis, outlines some of the challenges facing EMBA programs in the coming years. I think he is absolutely correct. Even though the basic design of EMBA programs hasn’t changed much since we pioneered the concept in 1943, the next few years are likely to see some significant changes in our business models and the structure of our industry. As Tim points out, there are several key issues facing EMBA programs:-->--> · Reduced corporate support for education. Fewer and fewer companies are providing financial support for EMBA programs. Even fewer send their employees to EMBA programs as part of a formal professional development process. Increasingly, we see students who pay for the entire program from their own pockets. As tuition continues to rise, schools will have to be more creative in assisting students with financing options and in demonstrating the ROI of the degree.-->--> · Continued growth in tuition costs. Tuition has outpaced the general rate of inflation for many years and shows no sign of slacking. Are we pricing ourselves out of the market? Are we likely to face increasing competition from lower cost providers? Schools will have to face up to the reality that the days of regular tuition increases might be over. Given the contribution that many EMBA programs make to the school as a whole, this could have implications on the entire enterprise.-->--> · Expanded student demand for services. EMBA students increasingly expect the same type and level of service that we have traditionally provided to our full time MBA students. Career support, student organizations, and a wider selection of elective courses are just some of the services EMBA students have come to expect. Each of these adds to the cost of the program and changes the structure of the school. -->--> · The broadening use of technology. From online degree programs to tablets in the classroom, there is no doubt that technology is about to make major changes to the delivery of our courses and to the structure of our industry itself. There are still many questions on what the specific impact will be, but schools that aren’t thinking about how technology will change the industry may find themselves struggling to survive.-->--> · Expansion by industry leaders. Some of the world’s best known EMBA programs have expanded across the US and around the world. Wharton, Kellogg and Chicago Booth all have satellite campuses and continue to expand their networks. How does a lesser known school compete when one of these players comes to town?-->--> · Increasing competition. Across the globe, the number of EMBA programs continues to increase – even in spite of the uncertainties in the industry. It will be even more important to establish a unique positioning and develop the marketing plans to support it. Even so, it may be increasingly difficult to attract a sufficient number of students given the many choices that they will have.-->--> · Alternative education providers. Specialized masters programs, for-profit schools, employer sponsored training, non-degree executive education and online educational programs can all function as substitutes for an EMBA program. Prospective students now have many more options to develop their professional skills. EMBA programs will have to develop strategies to distinguish themselves for the alternatives. Many of these issues aren’t unique to EMBA programs, but apply to business schools in general. However, EMBA programs are likely to be the most affected and given the large financial contribution typically made by EMBA programs to their schools, any significant shift in the EMBA market will cause a major disruption to the entire enterprise. So, what can a school do? First, schools should look closely at their portfolios of programs to see where they are most vulnerable. Between full-time, part-time and Executive programs where are the opportunities and threats in the market? Are there new program opportunities that could be added or does it make sense to scale back or eliminate some? What would happen if there were a major reduction in EMBA tuition revenue? Second, schools need to be paying close attention to advances in technology, whether online degree programs, MOOCs or technology assisted learning in a traditional classroom. The technology is changing so quickly that it isn’t yet clear where it is headed, but it is critical to stay abreast of new developments and, where possible, experiment with alternative modes of delivery. Finally, schools need to critically assess the positioning of their EMBA programs. What makes it different? How is it perceived in the market? What do you offer that no one else does? The answers to these questions will help the school determine whether the EMBA program can compete and on what basis. Here at Chicago Booth, analyzing these issues is a regular part of our annual planning process. As a result, we are confident that the EMBA program concept we launched 71 years ago will still be going strong 71 years from now. Bill Kooser Associate Dean for Global Outreach -->--> |
10 Jul 2023, 09:36
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