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17 Dec 2014, 19:40
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18 Dec 2014, 06:03
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18 Dec 2014, 09:00
| FROM Kellogg MBA Blog: Lessons on branding from Blackbeard the Pirate |
 First-year student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts here. A brand is simply a network of associations that exist in the minds of customers. Seeing the famous Nike swoosh or the Coca Cola logo triggers associations in our mind. Brand associations are incredibly powerful because they stick. Malaysian Airlines, for example, is likely to face the consequences of its two tragedies for a very long time. These discussions naturally lead us to other conversations around what companies do with these associations – rebranding, repositioning, etc. We’ll leave those topics for a later time and, instead, learn from one of the early exponents of the power of a brand: Blackbeard the Pirate. Edward Teach or “Blackbeard” is one of the most famous pirates in history. And, after an apprenticeship with some famous pirates of the day, he went on to build an empire of sorts. While he wasn’t the most successful pirate in terms of loot, he definitely succeeded in leaving behind an unparalleled legacy. Here’s how: 1. THE NAME – BLACKBEARD. It is unknown where he got his famous nickname. Given his mastery of the art of building a brand, we could suspect that it might be the work of the man himself. He was a shrewd and calculating businessman who knew that intimidation mattered greatly as a pirate. The more intimidated his opposing ships were, the less men he would lose since they would give up without a fight. 2. DEVIL’S IMAGE. Blackbeard knew the importance of image in his line of work. Before battle, he would dress all in black, strap several pistols to his chest and put on a large black captain’s hat. Then, he would put slow burning fuses in his hair and beard. The fuses constantly sputtered and gave off smoke, which wreathed him in a perpetual greasy fog. He looked like a devil who had stepped right out of hell and onto a pirate ship and most of his victims simply surrendered their cargo rather than fight him.  3. THE FIRST PIRATE FLAG. Blackbeard was a true innovator in using insignia. He realized that he would be able to intimidate ships best if they knew he was coming from afar. So, he created his flag – a skeleton spearing a heart while toasting a devil. Pirates later simplified it to the modern version which just depicts a skull and bones. Blackbeard understood that he wanted one association when people thought of him – fear. And, he carefully crafted an image around fear that has lasted well past his time. His is a wonderful lesson in building powerful brands while also prompting the question – what is your personal brand? Is it what you would like it to be? What do you do to live up to the brand you aspire to be? As you can tell with Blackbeard’s tale, these often become self-fulfilling prophecies. Rohan Rajiv is a first-year student in Kellogg’s Full-Time Two-Year Program. Prior to Kellogg he worked at a-connect serving clients on consulting projects across 14 countries in Europe, Asia, Australia and South America. He blogs a learning every day, including his MBA Learnings series, on www.ALearningaDay.com. Filed under: Academics, Business Insight, Student Life Tagged: 2Y, Brand, branding, MBA Learnings, personal brand, Two-Year, Two-Year MBA Program  
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18 Dec 2014, 09:29
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18 Dec 2014, 10:41
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18 Dec 2014, 22:35
19 Dec 2014, 09:00
| FROM Kellogg MBA Blog: Negotiating your job offer (or offers!) |
 A recent study of graduating MBA students found that half of the men had negotiated their job offers as compared to only one eighth of the women. As part of its mission to develop the women of Kellogg and help them achieve their professional and personal goals, the Women’s Business Association (WBA) recently hosted a panel to help tackle this disparity. Open to both male and female Kellogg students, the panel consisted of four negotiations experts who are Kellogg professors in the management and organizations department: Professors Jeanne Brett, Victoria Medvec, Leigh Thompson and Nicole Stephens. The conversation was an enlightening one that touched on several strategies and tactics to ensure both you and your future employer are satisfied. Below are a few key takeaways. 1. ALWAYS AIM TO HAVE ANOTHER OFFER TO INCREASE YOUR BATNA (best alternative to a negotiated agreement). If you don’t, you’re not negotiating. You’re begging. 2. DON’T EVER ASK THE QUESTION, “IS THIS NEGOTIABLE?” The answer will almost always be no! 3. CREATE A PLANNING DOCUMENT. This document should include the different components of the offer and your own personal scoring system, based on how you value those factors and how satisfied you currently are with the offering. Avoid focusing ONLY on salary – this is a common pitfall. 4. THINK ABOUT WHAT IS IMPORTANT TO THE EMPLOYER. As you consider the terms that you want to negotiate, frame the conversation in a way that conveys the factors that are most important to the employer i.e. long-term commitment to the firm, willingness to relocate, travel or work on different projects or teams, etc. 5. ALWAYS NEGOTIATE OVER THE PHONE OR IN PERSON. Use email only to arrange a time to discuss. 6. ASK FOR MORE TIME IF YOUR NEED IT. This is an important decision with long-term implications. Ask for more time than you think you need in order to avoid a rushed decision making process. And only ask for an extension once. In short, if done correctly with thoughtful consideration and planning, negotiations can help both an employee and an employer develop the optimal offer that meets both parties’ needs. And of course, once you sign that offer, work hard and deliver those results! Learn more about the Women’s Business Association. Pooja Prasad is a second-year student in Kellogg’s Full-Time Two-Year MBA program. She serves as VP of Marketing for the WBA. Prior to Kellogg, she spent four years at Adobe on their social media team. For her summer internship, she worked on Microsoft’s media team. Filed under: Business Insight, Career, Student Life Tagged: career, careers, job, job offer, jobs, negotiate, negotiating, WBA, Women, Women's Business Association  
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19 Dec 2014, 10:16
20 Dec 2014, 09:00
| FROM Kellogg MBA Blog: What it’s like to recruit as a 1Y student |
 As a 1Y, I was pretty nervous about recruiting. I was uncertain of how I’d stack up compared to other talented MBA candidates and didn’t know much about the process going in. Here is my take on fall recruiting, both the positives that came out of it and the challenges I faced. What’s great about Kellogg recruiting? One of the unique benefits that 1Ys (as well as MMMs) have from starting in the summer quarter is the undivided attention of the Career Management Center (CMC) staff. 1Ys have access to all of the same resources, such as mock interviews and industry overview seminars, as 2Ys, but with far fewer students competing for a time slot or to ask a question during the summer months. I took full advantage of the career coaching services and met with a coach weekly to lay out my recruiting plan. I was also pleasantly surprised by the informal support from classmates. I joined two interview prep groups (IPGs) and found that resources were abundant. It was always easy to connect with a student or alum that worked or interned at the companies I was considering. Lastly, the caliber and number of companies that recruited at Kellogg exceeded my expectations. I can hardly imagine a better roster of firms than those who came this fall. Additionally, I heard many stories of students reaching out to firms or non-profits on their own and getting interviews shortly thereafter. What are some of the challenges? For me, fall quarter was about recruiting, and that’s pretty much it. While I don’t think this is unique to 1Ys, recruiting leaves little time for anything else. To prioritize the job search, I decided to opt for a light course load and did not pursue any club leadership positions. Because of the high quality of companies recruiting at Kellogg, you can also find yourself having to make tough choices you never dreamed you’d need to make. You could be faced with two or more fantastic interviews or offers. Or you form great relationships with company representatives, but ultimately decide not to pursue the job. When these hard decisions came up, I relied on my husband, friends, and the CMC to help weigh the options. The last not so great is rejection. It happens and it stinks, especially when it’s a firm at the top of your list. Ultimately, the support network here at Kellogg will help you get through it and move onto the next great opportunity! What’s next for me? I’ll be deciding between job offers in the next few weeks and, with interviews behind me, I look forward to all the Kellogg fun that awaits, like ski trip, winter break in Cabo, Mexico, Education Consulting Lab, an impact investing case competition and much, much more! Clare Hunter is a current 1Y candidate at Kellogg. Prior to her MBA, she developed and led strategic planning efforts at the United Nations Foundation, worked as an advisory consultant for PwC, served as Chairman of the Board for the Washington, D.C. chapter of Acumen and received a U.S. Fulbright scholarship. She plans to pursue a private sector strategy role following graduation and, with a passion for social enterprise, hopes to make a long-term impact on international aid efforts. Filed under: Academics, Career, Student Life Tagged: 1Y, career, Career Management Center, careers, CMC, job, jobs, recruiting, recruitment  
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21 Dec 2014, 04:39
22 Dec 2014, 09:00
| FROM Kellogg MBA Blog: Faculty Spotlight: Professor Jan Eberly |
 Kicking off a new, ongoing series, this Faculty Spotlight looks at Professor Jan Eberly. Returning to Kellogg in 2013 after two years as assistant secretary for economic policy and chief economist of the U.S. Department of the Treasury, Eberly brings her experience to the Kellogg community as both the James R. and Helen D. Russell Professor of Finance and the faculty director of the Kellogg Public-Private Initiative. Here, she talks about her research, her teaching and how these issues can help organizations grow. WHY DO YOU TEACH? Every field has powerful ideas. Some are simple, others are nuanced. Conveying those powerful ideas to students — seeing them understand the construct, why it’s important and how to use it — makes teaching consequential. These ideas are powerful because they can be used in so many settings; they transcend examples, geographies and individuals. When students grasp them, they will have them and use them for a lifetime. WHAT ARE YOU RESEARCHING AT THE MOMENT? Economic policy is usually divided into monetary policy, run by the Federal Reserve, and fiscal policy, administered by Congress and the Executive Branch of government. But much of policy now involves credit markets, which is a hybrid of both monetary and fiscal. I’m working on a number of projects about how government policy interacts with the private sector in credit markets, such as mortgages and student loans. WHAT ARE THE MOST EXCITING NEW DEVELOPMENTS IN YOUR FIELD OF STUDY? The financial crisis focused attention on the interaction between macroeconomics and finance. The effects of the crisis were profound throughout the global economy. Researchers are now getting more and better data on the crisis and its aftermath that allow a much more serious and systematic examination of how to react and — even more importantly — to preempt the kind of cataclysm that occurred during the crisis and Great Recession. WHAT’S THE BIGGEST MISCONCEPTION ABOUT YOUR AREA? Economic analysis can be perceived to be sterile and rigid. Using economic tools shouldn’t downplay the immense human and emotional stakes in social science. In fact, because the social aspects are so complex, using models and data to help provide clarity and rigor is even more important. But because that underlying reality is so complex, models and studies have to be used together with understanding and experience in practical applications. This balance is the art behind the rigor of science. FINALLY, WHAT ARE THE BIGGEST OPPORTUNITIES IN YOUR AREA TO HELP ORGANIZATIONS GROW? Economic growth fundamentally underlies expanding business opportunities and improving living standards. Driving growth is the primary imperative in macroeconomics today. Coming out of the financial crisis and “Great Recession,” sustained and shared expansion of economic opportunity has been elusive. Understanding how to drive improvements in productivity, human capital and the infrastructure that underlies growth is at the core of current research and developments in economic policy. Filed under: Academics Tagged: faculty, faculty spotlight, finance, KPPI, Public-Private Initiative, thought leadership  
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