Calling all Booth Executive MBA Applicants:(2016 Intake) Class of 2018

FROM Booth EMBA Blog: Work Hard, Play Hard. An Energetic Welcome in Hong Kong

After wrapping their first international section week in London earlier this summer, our new global cohort of Executive MBA students landed in Hong Kong for their second international section week in August. This week marks the first time our new students took part in classes located on the Chicago Booth campus at the University of Chicago Center in Hong Kong.  -->--> One of the best aspects of our program is the community that you gain through the experience. Traveling to Chicago, London and Hong Kong together as a group provides an excellent opportunity to make lasting friendships and learn more about the region by speaking with classmates who are from there. It’s also fun! Our Hong Kong team was very excited to welcome students from all over the world to our city. Here are a few snapshots of the group enjoying their time there. A traditional welcome Students were welcomed to campus with a traditional Chinese Lion Dance, or wushi. The lion dance is performed at the Chinese New Year but is also used to mark important celebrations or honor esteemed guests.  The colorful and energetic “lions,” dancing to the beat of the drums, set an upbeat mood for the students’ first day on campus. It also signified an appropriate beginning for an intense week of class, networking with local alumni, and career development workshops. Taste of tropical fare In keeping with cultural theme, students took a break from class to try a selection of tropical fruits native to Southeast Asia; pomelo, longan, carambola, mangosteen and star fruit. We hoped that the natural sugar would help carry them through their Negotiations class! Work hard, play hard Work hard and play hard is a mantra familiar to our Executive MBA students. The group ended their fourth class day with a boat tour of Victoria Harbour aboard the renowned Star Ferry. They were treated to the famous “Symphony of Lights” show, known as the world's largest permanent light and sound staging. The tour provided unforgettable views of the city at night and the accompanying music and narration from the symphony was the perfect way to capture the enthusiasm and energetic spirit of Hong Kong. Goodbye for now, with more journeys to come We closed the week with dinner at the R66 Revolving Restaurant, where students could take in 360° views of the city. The week ended with lots of hard work, fun, laughter and the knowledge that it’s just a temporary goodbye – we’ll see them back in class again soon! Oh behalf of the Marketing, Recruitment & Admissions team, Stephanie Wong Assistant Director, Recruitment and Admissions, Executive MBA Asia -->-->

FROM Booth EMBA Blog: Meet Us Where You Are

As an Admissions Counselor, one of my key responsibilities (not to mention my favorite job function) is interacting with you, our prospective students. We talk by phone and often exchange emails. I can answer questions and offer insights on the experience you will have as an Executive MBA student. These conversations, however, can be expanded to take your understanding of Chicago Booth one step further. We offer a series of global events where you can meet admissions staff, alumni and students in person. I work most directly with prospective students based in North America, and can shed light on opportunities to meet us there. Connect with us in Chicago We host Information Sessions at the Gleacher Center throughout the fall and winter. These sessions are wonderful opportunities for interested candidates to learn more about the program, interact with staff, and meet Executive MBA alumni and current students. We use this time to share information around the Chicago Approach, the global campuses where you will study, the Executive MBA Program timeline and curriculum. We also invite students and alumni to share their views on the experience and this is where the real value of attending comes through - you get to hear about the impact of studying at Chicago Booth straight from those who have lived it. -->--> Tune in from work  If you're unable to make it to campus for one of our information sessions, we also host Online Sessions. These are generally held during the lunch hour so you can easily join us while at work. Both the in-person and online events provide an opportunity to ask questions specific to your interests. -->--> Dine in your city We recognize that meeting in more intimate settings creates opportunity for one on one conversation. For those living outside of Chicago, attending a Student and Alumni Dinner is a great way to get to know Chicago Booth. We invite a small group of prospects to gather over dinner with some of our local students and alumni. These smaller events are particularly enjoyable for me as an Admissions Counselor. I am always amazed by the generosity of our students and alumni to meet with prospective students and the candor they show when describing their experience or answering questions. -->--> Boothie for a Day Prospective students often ask me what else they can do to prepare to apply. My response is always to encourage them to come for a class visit to campus.  Without a doubt, this is the best way to truly get a sense of the Executive MBA program experience. I still remember my first visit to a Chicago Booth classroom. I felt a little intimidated at the caliber of the students but also fully captivated by the dynamic back and forth flow of conversation and expertise of the professor. I knew almost instantly that I was going to be transformed during my time here. -->--> Even as an alumna of the Full-Time Program and an employee of Chicago Booth, I always learn something new when I attend these events. I hear amazing stories of career advancements, professor interactions, course material applications, and alumni connections. These events often inspire me and remind me of how proud I am to be associated with such a remarkable institution. Now it is your turn…I am looking forward to seeing you soon!-->--> Melissa Patterson ‘98 Admissions Counselor -->-->

FROM Booth EMBA Blog: The Chicago Approach Lives in Singapore

Our team recently had the opportunity to attend the Executive MBA Council conference in Singapore last month.  One of the benefits to hosting the conference in Asia was the proximity to very senior industry leaders from the region. I was pleased to hear their perspectives on the business landscape during several panel discussions, but one in particular stood out. During a session entitled “Leaders on Leadership Training,” we had the chance to hear from one of our Executive MBA – Asia alumnae, Goh Swee Chen, ’03 (AXP-2). Swee Chen serves as Chairperson of Shell Companies in Singapore and Vice President for Commercial Fuels and Lubricants – Asia Pacific, where she directs fuels and lubricants businesses in more than 10 Asia Pacific countries. When addressing her experience at Chicago Booth, Swee Chen began by mentioning that no single rulebook guides decision making these days. “You wake up not knowing what will happen every day,” she said. “External shocks – floods, policy changes, ect. - can happen at any time.” She explained that the Chicago Booth MBA helped her develop the ability to “think": to take pieces of information, connect the dots and draw conclusions to make good decisions. These skills, she reflected, are the keys to running successful businesses with integrity. She continued by saying that it is no longer enough to be a big charismatic personality to head a business; you need to actually have hard skills, the ability to think holistically and use those skills to run ethical and successful businesses. This resonated with me very strongly because it demonstrates the Chicago Approach in action and how Swee Chen uses it on a daily basis at the top levels of management at one of the world’s largest energy and petrochemicals companies. At Chicago Booth, our approach to business education focuses on providing students with different lenses with which to look at problems. We provide a basis in fundamental disciplines like Economics, Psychology, Sociology, and a set of frameworks that allow our alumni to attack any problem that is presented. It’s not a set of pat answers to already asked questions; it’s a way to approach any problem that is in front of you – anticipated or not - in a rigorous, systematic and data-driven way. It was great to hear Swee Chen personally share how the approach that she learned here has helped her to be successful in her role. Richard Johnson

Chicago Booth EMBA has streamlined its questions this year, giving you one essay with ample space to make your case holistically. This change indicates that they are looking for people who can organize their thoughts, build a credible and compelling case for their candidacy, and maintain an extended yet focused discussion. The Booth EMBA adcom clearly puts value on verbal expression and expects senior level managers to have mastered this skill. Give yourself time to develop and refine your essay accordingly.

Essays:

1. Why are you seeking an MBA from Chicago Booth and what unique knowledge and experiences do you hope to contribute to the program? (maximum 2 pages, 12 pt. Times New Roman)

The question zeroes in on the elements directly relevant to the adcom, but allows you to elaborate within those parameters. Considering the pivotal role the one required essay plays in your application, the key challenge is making good decisions about the following four elements:

• Within the overall space allowance, how much space should you allocate to each part of the question? It will vary person to person. For example, a person who has her own company will require some “backstory” for context setting before discussing future plans, so she would allocate more space to goals than someone who is rising up the ladder at McKinsey. Someone with atypical goals (such as my client who successfully applied to a different top EMBA program) will need to spend more time clarifying why he wants the Booth MBA than a more conventional applicant. Analyze your own case and block out the essay accordingly.

• You have to discuss your professional goals in order to explain why you are “seeking an MBA from Chicago Booth,” but how to present them? Since EMBA programs are part-time, an ideal place to start is your current work: what do you want to achieve and how do you want to grow during the years in the program? (This has the added benefit of giving the adcom a view of what you’ll bring to the table based on this work.) From there, move on to your goals for the 5-year period following graduation – give the most detail here; make it really concrete. Then sketch your longer-term career vision/plans, necessarily less detailed. Finally, explain how each of these career/goals phases require skills, knowledge, and perhaps relationships derived through the Booth EMBA.

• How should you structure this relatively long, complex essay? Simply and straightforwardly is usually best. Start with your current/immediate goals. (If you need to provide some backstory for context, as noted above, do so as succinctly as possible.) Then progress through your goals. Next, discuss why you need the Booth EMBA now, connecting your reasons to the previously stated goals. Finally, present your contributions.

• What “unique knowledge and experiences” should you talk about? Select two to four, and for at least two, give concrete examples. For all, discuss relevant insights – after all, that’s what you’re really bringing, not the fact of having done something. To select the best, consider what aspects of your experience would be interesting and/or useful to the Booth EMBA cohort and give them fresh insight or perspective. It could be related to industry, function, geographic/global experience, a formative personal experience, a particularly meaningful extracurricular (community or other non-work) involvement, etc. Choose points that expand the reader’s understanding of you, things they won’t necessarily glean from your resume, AND that have relevance to them.

2. OPTIONAL: If there is anything else you would like the Admissions Committee to know about you, please share that information here. (maximum 2 pages, 12 pt. Times New Roman)

This question invites you to present new material that will enhance your application, as well as to explain anything that needs explaining (e.g., gap in employment, choice of recommender if not using a direct supervisor, etc.). As far as enhancement points, there should be a clear value to the information you’re sharing – and it should not be content that more appropriately belongs in the main essay (contributions of unique knowledge and experiences).

3. REAPPLICANTS ONLY: Please give us an update on your professional, academic, and community activities since your previous application and highlight what you have done to strengthen your application. (maximum one page, single spaced, 12pt. Times New Roman)

Whatever developments you discuss, for each, describe the situation/experience concretely and clarify the impact you had. Also clarify how it demonstrates growth (i.e. not just “another” achievement), and why it makes you a stronger candidate.

By Cindy Tokumitsu, co-author of The EMBA Edge, and author of the free special report, Ace the EMBA. Cindy has helped MBA applicants get accepted to top EMBA programs around the world. She is delighted to help you too!

Related Resources:

• Best MBA Programs: A Guide to Selecting the Right One
• Chicago Booth 2016 MBA Essay Tips & Deadlines
• 7 Signs An Experience Belongs In Your Application Essay

This article originally appeared on blog.accepted.com.
Applying to a top b-school? The talented folks at Accepted have helped hundreds of applicants get accepted to their dream programs. Whether you are figuring out where apply, writing your application essays, or prepping for your interviews, we are just a call (or click) away.

Contact us, and get matched up with the consultant who will help you get accepted!

FROM Booth EMBA Blog: Top Six Questions About Applying

At this time of the year I get asked a lot of questions. Occasionally it’s a fun question, like, ‘where did you get those great shoes’, but most of the time it’s an admissions related question. As the 1st December deadline looms large, I thought it would be useful to list some common questions (and answers) here. If your question isn’t covered below, feel free to reach out to our admissions teams directly.   1. Do I really need to aim for the first deadline? There are two more to follow.   We do indeed have several deadlines. However, we also operate what is known as a ‘rolling admissions’ system. This means that we make decisions on applications as soon as they are complete – early applications receive an early decision. The closer we get to the final deadline, the fewer spaces remain available. We build a class carefully to ensure that we have good representation from all sectors, industries and countries. Therefore it makes sense to apply as early as you can. 2. I need more time to prepare for the GMAT! I’m going to miss the deadline! I’m panicking! Don’t panic. If you need to take the GMAT (ie, you do not qualify for a GMAT waiver) then please do take the time to prepare and study. However, I encourage you to get started on an application in the meantime. You can submit the other parts of your application and keep in touch with us whilst you prepare for the test. We won’t be able to make a decision on your application until we receive your score, but at least you’ll be in ‘the pool’ and we’ll know who you are and what you are planning to do. We can also calm you down at regular intervals, if that would be helpful. 3. I haven’t written an essay for 20 years and I don’t know where to start… You will have to submit an essay as part of your application to the Executive MBA Program. The essay question is quite simple, yet everyone has a tendency to ‘overthink’ it. Basically we just want an insight into your motivations. Why an MBA and why Chicago Booth? Why now? How will the program help you meet your goals? You’ll have an opportunity to expand on all of these points at the interview, so please be brief in the essay (two pages only). We want to hear your ‘voice’ on the page – we aren’t judging your creative writing skills. Perhaps you can ask a friend or family member to read it before you submit. I think the best essays are always the most personal, so try to tell us a story. 4. My recommenders are slowing me down – I’m missing one recommendation letter. What can I do? We don’t need your actual recommendations at the point of application -  we just need you to provide the contact details of your recommenders. We will send them a form to complete online. If you have a separate letter that’s fine; you can email it to us directly. If your recommender would prefer not to fill out the form online, then he/she can also contact us directly. They will be sent instructions about this. A lack of ‘actual’ recommendations need not slow you down! 5. What is a company support letter? Is this the same as a recommendation? A company support letter is a letter from your company (usually the HR department) acknowledging your enrolment on the Executive MBA program. The company support letter is not a compulsory part of the application, but we will need it if you accept our offer to the program. Some candidates prefer to wait until they have received a decision before requesting this letter from their company. 6. I’m not a 37 year old investment banker. Am I too young/old/unusual for your program? It’s true that our students are, on average, 37 years old and many of them work in financial services. However, if you take a look at our class profile you’ll see that this is not representative of our whole program. We don’t have a ‘typical’ student – you’ll find engineers, medical doctors, lawyers, entrepreneurs and consultants in the classroom. The average age is 37, but it’s obviously representative of a range. Don’t rule yourself out before you’ve even begun – contact us to arrange a call. We can give you some immediate feedback on your suitability for the program. I hope this ‘Q&A’ is useful. Remember, we’re here to help so please feel free to get in touch if you have any questions about the school or program. We look forward to hearing from you, and reading your application! Rachel Waites

Essay topics for EMBA program posted here calling-all-booth-executive-mba-applicants-2016-intake-class-of-202085.html#p1551692

Good luck to all applicants!

FROM Booth EMBA Blog: How My Business Became a Class Project

Concepción Prado is Principal and Founder of the Greenfield Group and an executive MBA student at Chicago Booth. She is also a member of the Chicago Innovation Exchange. Below she writes about her experience rebranding her company with the help of the Chicago Booth community. At the beginning of my second year at Chicago Booth, I decided to expand my business. The decision came as a surprise to me. When I applied to Chicago Booth, my focus was on furthering my education and formalizing my skill set. My company, then known as Prado Consulting, is a management consultancy specializing in IT services. We had been in business for 18 years and operated as a small firm primarily servicing the Chicagoland area. I’ve always wanted to do an MBA Program but up until this point I have been very focused on my family (I have two children) and my business. When my youngest daughter started full school days it finally seemed like the right time to go back to school. I also felt that I had reached a juncture in my career; I needed to take a new step, but wasn’t sure what that would be. The idea to expand really took hold during the Marketing Management course I took with Professors Sanjay Dhar and Pradeep Chintagunta in the spring term of my first year. Throughout the course, I had been thinking about my business and how I could evolve it. I sent an email to both of my professors and asked them the same question: Should I build and expand with my existing company brand or should I undertake creating a new identity? They each responded to me, and in true Chicago Booth fashion, pushed me to think critically about my goals.  What did I want to do? How did I want to position myself? Did I see the company reaching new customers on a national and international level? With their help, I determined that I needed to rebrand the identity of my 18 year old company entirely. Although this was the more difficult choice, it was necessary to deliver my company’s message in a way that would resonate globally. As I worked through the process of creating a new identity for my firm, I continually sought out the opinions of my faculty and classmates.  This was an invaluable asset. My classmates, particularly those I had gotten to know in my Chicago-based study group and my international study group, responded generously with their time and feedback. They provided feedback on my ideas during class breaks, in study groups and over email. They were an ideal group to have at my disposal – I was able to seek out the expertise of 90+ seasoned professionals from all manner of industries and functions. -->--> When I had a question about intellectual property, I sought out a classmate who works in the field. He pulled out his computer right away to show me how to research. When it came time to choose my new company logo, I put it to a vote within my cohort and had classmates from around the world weigh in on which design worked best. In fact, my new company name, Greenfield Group, originated from the collective creative genius that is my XP-85 cohort. A classmate with marketing experience suggested three possible names. One of the choices was a translation of my surname Prado, which means meadow or field in Spanish, to the “Greenfield” of Greenfield Group. The name resonated. Working with my fellow Boothies on this has given me a new strategy for approaching future marketing initiatives for my company. Asking for help, finding resources, learning best practices and forging stronger relationships in my network have been the most significant takeaways for me.  I don’t believe an external marketing firm could have helped me to rebrand as thoroughly as my connections within Chicago Booth have – it truly became a class project. I am very proud of my firm’s new name and image, and look forward to the future. Concepción Prado '16 (XP-85) Photos courtesy of Zeeshan Shaikh  -->-->

FROM Booth EMBA Blog: Your Chicago Booth Interview: What to Expect and How to Prepare

If you’ve been invited to interview for the Executive MBA Program you are probably feeling excited and relieved, but also a bit nervous. You likely have questions - What can I expect from the interview? And, how should I prepare? The interview is an important part of our admissions process. It’s also an opportunity for you to get to know the school better and develop a more thorough sense of our community. Your interview will typically be held with an alumnus or a member of the admissions team. While you will have a chance to expand on your essays, experiences, and reasons for attending Chicago Booth, this is your time to ask questions and make a genuine connection. Keep in mind that the experience is meant to be a positive one – there won’t be any quizzes or interrogations. However there are some things you can do to ensure that your experience is a good one. Here are some of our tips for a great interview: -->--> Before the Interview: Research-->--> Similar to preparing for a job interview, you'll want to research Chicago Booth and be able to articulate why it’s a good fit for you. There is a lot of information about the program available on our website, but you can also call upon others in the Booth community. If you know any current students, alumni, faculty or staff, these are all good people to connect with beforehand. If you don't know anyone to talk with, contact the Admissions Office to see if they can put you in touch with someone. Spend some time thinking about the questions your interviewer may pose. There are three main points to consider: -->--> 1) Know yourself. What is your story? How would you describe you skillsets, leadership traits, and unique experiences?-->--> 2) Career trajectory. What you have you accomplished in your career to date? Be prepared to showcase this with concrete examples. -->--> 3) Your goals. What are your aspirations? The Executive MBA Program demands a significant commitment of your time and energy. How are you planning to use this investment in yourself? -->--> Proper preparation includes practice. Say your answers out loud a few times to friends, colleagues or family members. Ask them for honest and constructive feedback.  -->--> The rest of the preparations are easy. Make sure to write down your questions in advance. Wear appropriate business wear and don’t forget to bring a copy of your resume and essays. -->--> During the Interview: The Basics -->--> 1)     Be on time. You may have heard that first impressions matter; well it’s true – they do. Head out for your interview early, taking precautions to arrive ten minutes prior. If you cannot make it on time due to unforeseen circumstances, be sure to call the interviewer to let them know. 2)     Relax. Once there, relax and be yourself. Authenticity is important. 3)     Listen. Pay attention to the question that’s asked and then pause to think before responding. If the question is not clear to you, ask the interviewer to clarify. Then, prepare your response – you are allowed to take time to think, and your interviewer will appreciate your thoughtfulness. Show curiosity. You will be given time to ask questions. Bring along a couple of prepared questions and be ready to ask some that arise from the interview session. The interviewer will be happy to answer your questions and share their experiences so that you can get a clearer picture of Chicago Booth.  We wish you the best of luck as you move forward in your MBA journey. We look forward to meeting you along the way! Nick Soriano Director of Recruitment and Admissions, Asia

FROM Booth EMBA Blog: The Women's Network at Chicago Booth

In a previous blogpost we talked about a great lunch we hosted with female Executive MBA students in London. It was really interesting to discover how useful they found it to speak with someone during the application process, particularly women of a similar industry, country or background. We know that having a female mentor within the Booth community has given many of our current and former students confidence to take the next step. -->--> During the Executive MBA program, female students are encouraged to actively engage with a variety of networks including the Chicago Booth Women’s Network. The group was founded in 2002 by alumni volunteers and offers a global community for Booth women to connect and support each other's career paths. In addition to participating in admissions events, members co-host "Women's Week" networking receptions (held in over 30 cities worldwide each year) designed to allow interested female prospective students to learn more about Chicago Booth. This year, the London admissions team will host a Women in Business Networking Event with guest speaker MerrynSomerset Webb. Merryn is Editor-in-Chief of Money Week, an FT columnist and respected commentator on economics, financial markets and personal finance. We invite female executives to join us on Chicago Booth’s London campus on Tuesday, February 9 for what will be a fun and informative evening including a presentation, Q&A and networking reception. At the session, Merryn will outline her argument that the situation with gender and income inequality is improving, but wealth inequality is not. Drawing on everything from textile manufacturing in medieval Italy to the aging of western societies today, Merryn will explain why wealth inequality persists - and why it matters. If you’re interested in joining us, please reserve your seat today. We're very proud that women currently make up 25% of our global student body and 30% of the London-based Executive MBA cohort. If you’d like to find out more about any of our diversity initiatives or are interested in hearing more about Chicago Booth’s Executive MBA Program, please contact a member of the admissions team. We hope to see you at one of our upcoming events soon! Angela Heywood Associate Director of Recruitment and Admissions, Executive MBA - Europe

FROM Booth EMBA Blog: My Journey to the Global New Venture Challenge

Christian Heim is Vice President of Information Technology at GCM Grosvenor in Chicago and an executive MBA student at Chicago Booth. Below he writes about his experience competing in the Global New Venture Challenge [GNVC], an immersive, experiential learning program that helps Chicago Booth students turn their ideas into viable companies. Over the course of GNVC, students form teams to create a business plan and receive coaching from Chicago Booth faculty and industry experts. There are several “rounds” in the competition where teams present their business plans during live pitch sessions in front of investors, alumni and business leaders. The competition culminates with a final round featuring the winning teams from our Chicago, London and Hong Kong campuses on March 17. Christian Heim (pictured first on the right) watches as his team member presents during the GNVC semi-finals round. My journey to the Global New Venture Challenge started during summer elective courses. Similar to my decision to take on new challenges and enroll at Booth, I decided to go all in on entrepreneurial electives. I took Building the New Venture, Entrepreneurial Finance and Private Equity I and II, and Commercializing Innovation. After that, I wanted more. GNVC was the next logical step. I approached it with some caution – I knew I still had a lot to learn about starting a business. As part of my closing essay for Building the New Venture, I focused on how humbling the class had been to me. It was humbling because I assumed I knew so much about being an entrepreneur but soon realized that I knew very little. Banding together Our GNVC team was formed in early October. Our company, Big Crowd, is a platform designed to help event organizers manage large crowds by providing real-time crowd analysis. We also had an idea for attendees; an app that provides vital, even life-saving information to help avoid choke points, navigate to services and friends, and provide social context to others. Although I knew this was going to be a demanding experience, I was excited to get started. If I ever wanted to start my own company, I needed to go through the bumps and bruises of working with a team to create something from the ground up. Once we began, I had calls about GNVC every day. There were discussions about the feasibility study, the business post-GNVC, and personnel. On a personal level, my work-life balance became pretty strained. I had to carry my laptop around and be prepared for calls at any time; I took them in attics, basements and even in my car. It was a really crazy time. November 1st was the application deadline day. I was tired from late night tweaks and also from Halloween the night before (I have two small children). Submitting the application kind of felt like the day of a final exam – you have inundated yourself with the content and just want to be done. However, we were very happy with our final proposal. Acceptance! In mid-November we found out we had been accepted into the competition. This was huge for us, and we were extremely excited. We started planning how to get ahead of the competition by putting in a lot of work during the months of November and December. Unfortunately, this plan meant that our holiday season was going to be packed with Booth stuff. My family wasn’t always happy with this strategy, but I had to make it work. We started to focus on our elevator pitch leading up to the semi-finals, held in early January. We all had strong opinions on how to best approach this. It was an interesting dance among highly opinionated, outspoken people (keep in mind that we are executives in our day jobs, and tend to have the final say at work!). In the end, we learned a key lesson about understanding when to lead by following versus when to lead by taking charge. As the semi-finals approached, we went from casual check-ins to a reoccurring meeting three days a week. This was in addition to calls with individuals, vendors and other parties. It was a strange time. As our team evolved, so did our business. We went through various pivots and had to adjust our value proposition again and again. There were heated discussions about which way we had to go. Overall, we were a mixed bag of thoughts, but still had pressing deadlines to keep. Semi-finals Round 1: Bumps in the road We continued to work on the business plan and presentation up until the first day of class. While we pulled back on the meetings, the workload was still every day. By this time, most of the team felt good about the material, while others were not 100% on board with the recent changes. This was important because it did divide our team a bit. It was decided that one of our team members would give the presentation on behalf of the group. We knew the judges weren’t going to like it and sure enough, they noted it in our feedback. That being said, our presenter did a great job on the pitch, and we received high scores in that area. At the same time, the judges questioned our product. We didn’t have anything demo-ready, and we were “all talk” at this point. This was hard to hear because we had put so much effort into our business, yet we were coming off as too enthusiastic and selling “vaporware” - meaning that no actual product had been developed. We knew we had to change up some major pieces for the next round. We decided to switch the presenters and modified some of our content. It’s worth noting again that the feedback was tough to take. However, that’s part of the experience. While difficult, the hard comments and intense scrutiny are integral to the value of the GNVC. We were pushed to improve and do better. We needed to be broken and rebuilt. After another two weeks of hard work, tweaking, and presentation practice, we felt prepared for Round 2. It was going on 7 PM the night before when we met with our GNVC Professor Waverly Deutsch for a trial run. Bad news: she absolutely shredded our unit model cost breakdown. This meant we had to go into full overall, with the presentation looming the very next morning. This was a mess, and the entire group was unhappy. Not only did we have to go back to basic modeling and redo the financials, but we had to modify the presentation and practice it. We ordered a Lou Malnati’s deep-dish pizza and hunkered down to work. As bad as this last minute derailment was, it demanded that we all come together as a cohesive group. We did not sleep much that night, but we got through it. Semi-finals Round 2: The big day The big day arrived, and we did a lot of last minute practicing. The presentation went really well, though we went over our time by 20 seconds. The judges also dinged us on a miscommunicated calculation during the Q&A. At the end of the day our journey ended here, in the semi-final round. When I think of how much time I put into this company and course, it’s incalculable. At one point, I even think I was dreaming about this stuff. It just consumed me at certain parts of the day, and I couldn’t get it off my mind. So what happens now? Honestly, it is hard to say. BigCrowd still has a strong value proposition and nothing has changed with the business. However, our team is laser focused on finishing up with the XP-85 program in March. On a personal level, I need some time to rebalance and recalibrate. The lessons I learned from GNVC have been invaluable. BigCrowd aside, I have an open thread with a Booth colleague about starting our own business and I feel confident that at some time in the near future, we’ll get that venture going. Christian Heim, ’16 (XP-85)

FROM Booth EMBA Blog: Aiming for the "Wow-Factor": A GNVC Journey

Sheela Agarwal, MD, is Head of US Medical Affairs for Radiology at Bayer HealthCare in New York City and an executive MBA student at the London Chicago Booth campus. She has been competing in this year’s Global New VentureChallenge [GNVC] with her team, 3DMed. GNVC is the executive branch of Chicago Booth’s New Venture Challenge, a top-ranked business launch program designed to help students turn their ideas into viable businesses. There are several "rounds" in the competition where teams present their business plans during live pitch sessions in front of investors, alumni and business leaders. The competition culminates with a final round featuring the winning teams from our Chicago, London, and Hong Kong campuses on March 17. We spoke to Sheela just after she learned her team would be advancing in the competition. Sheela Agarwal (pictured above, center) looks on as her team prepares to compete in the GNVC semi-finals in London. How would you describe your company? SA: If there’s one thing I can do after this experience, it’s to give our pitch!-->--> Our company, 3DMed, uses 3D printing to create customized surgical instruments based on patient anatomy and surgeon preferences. We believe that this technology will allow surgeons to perform less invasive surgeries while also saving hospitals money. -->--> Is there a humanitarian element to your work? Have you adapted the technology to use in disaster zones, for example? -->--> SA:  We did originally have that intention. But our GNVC professor, Waverly Deutsch, advised us to take it out. She could see that by trying to do both things we were actually attempting to address two distinct problems.  It wasn’t investable. So we decided to focus and scale down our mission. Having a viable idea is one of the biggest lessons I've learned so far. Where are you currently at in the process? SA: I just got off the phone with the Head of Cardiothoracic Surgery at the University of Chicago Medical Center. We spoke for over an hour. He is helping me think through how this technology can affect all surgeons. We’re discovering more questions to consider, such as – how will surgeons know that they need this tool? How can we create a need for this in the marketplace? -->--> So I’m working to get more information to truly assess our model. I’ve consulted extensively with thoracic surgeons who I trained with during my residency, and they are all familiar with the concept and on board with our business idea. Now it’s time to get some unbiased opinions from surgeons and medical professionals outside of my immediate network. -->--> The networking has been one of the most valuable aspects of GNVC so far. The coaches all know people who can be helpful and have generously introduced us to them. It was actually  one of the GNVC coaches, Professor Robert Rosenberg, who introduced me to the surgeon I just spoke to. Another Chicago Booth alumnus based in London knew one of the top Medical 3D printing gurus in the UK and reached out to connect us. Professor Deutsch has encouraged this type of expert feedback all along – she says that you don’t realize how valuable it is until after the fact. I am really finding that to be true. -->--> What was competing in the semi-finals like? -->--> Nerve-wracking! I dropped the pointer right in the beginning of the presentation. But from there it went smoothly. It was really inspiring just to be in the room and feed off of everyone’s energy. After weeks of practicing, I felt like our team gave the very best presentation we had ever done that day. It was quite a rush. Sheela holds a 3D printed instrument and a traditional one for judges to see. What is the toughest feedback you’ve received? SA: During the competition, the coaches kept saying that our numbers weren’t “wowing” them. They weren’t able to clearly see the potential in the size of the business and, from their perspective, the market for our instruments seemed tiny. They were not impressed. -->--> I thought that if I could just prove the benefits they would see our side of things, but in these situations investors don’t really listen - they cut you off and remind you that you are not pitching to surgeons. It was a good reminder. As a doctor, I was focused on the immediate impact this could bring to my work. But I’ve been pushed to think about a much bigger focus. -->--> After this feedback we went and reevaluated our slide deck and our projections with the GNVC TA, Jamie Carmichael.  With his help, we realized that our presentation of the financials just wasn’t clear, and the judges might have interpreted our ‘unit model’—the sales we expected to make from one hospital—as our initial projections. So we’ve been working hard at revamping our slides to actually represent what we think the market for our product is...and we hope to "wow" the judges during the finals!-->--> As told to Meghan Keedy by Sheela Agarwal, ’16 (EXP-21)-->--> Read more about our students’ experiences in the Global NewVenture Challenge>>-->--> --> -->

FROM Booth EMBA Blog: Aiming for the Wow Factor: A GNVC Journey

Sheela Agarwal, MD, is Head of US Medical Affairs for Radiology at Bayer HealthCare in New York City and an executive MBA student at the London Chicago Booth campus. She has been competing in this year’s Global New VentureChallenge [GNVC] with her team, 3DMed. GNVC is the executive branch of Chicago Booth’s New Venture Challenge, a top-ranked business launch program designed to help students turn their ideas into viable businesses. There are several "rounds" in the competition where teams present their business plans during live pitch sessions in front of investors, alumni and business leaders. The competition culminates with a final round featuring the winning teams from our Chicago, London, and Hong Kong campuses on March 17. We spoke to Sheela just after she learned her team would be advancing in the competition. Sheela Agarwal (pictured above, center) looks on as her team prepares to compete in the GNVC semi-finals in London. How would you describe your company? SA: If there’s one thing I can do after this experience, it’s to give our pitch!-->--> Our company, 3DMed, uses 3D printing to create customized surgical instruments based on patient anatomy and surgeon preferences. We believe that this technology will allow surgeons to perform less invasive surgeries while also saving hospitals money. -->--> Is there a humanitarian element to your work? Have you adapted the technology to use in disaster zones, for example? -->--> SA:  We did originally have that intention. But our GNVC professor, Waverly Deutsch, advised us to take it out. She could see that by trying to do both things we were actually attempting to address two distinct problems.  It wasn’t investable. So we decided to focus and scale down our mission. Having a viable idea is one of the biggest lessons I've learned so far. Where are you currently at in the process? SA: I just got off the phone with the Head of Cardiothoracic Surgery at the University of Chicago Medical Center. We spoke for over an hour. He is helping me think through how this technology can affect all surgeons. We’re discovering more questions to consider, such as – how will surgeons know that they need this tool? How can we create a need for this in the marketplace? -->--> So I’m working to get more information to truly assess our model. I’ve consulted extensively with thoracic surgeons who I trained with during my residency, and they are all familiar with the concept and on board with our business idea. Now it’s time to get some unbiased opinions from surgeons and medical professionals outside of my immediate network. -->--> The networking has been one of the most valuable aspects of GNVC so far. The coaches all know people who can be helpful and have generously introduced us to them. It was actually  one of the GNVC coaches, Professor Robert Rosenberg, who introduced me to the surgeon I just spoke to. Another Chicago Booth alumnus based in London knew one of the top Medical 3D printing gurus in the UK and reached out to connect us. Professor Deutsch has encouraged this type of expert feedback all along – she says that you don’t realize how valuable it is until after the fact. I am really finding that to be true. -->--> What was competing in the semi-finals like? -->--> Nerve-wracking! I dropped the pointer right in the beginning of the presentation. But from there it went smoothly. It was really inspiring just to be in the room and feed off of everyone’s energy. After weeks of practicing, I felt like our team gave the very best presentation we had ever done that day. It was quite a rush. Sheela holds a 3D printed instrument and a traditional one for judges to see. What is the toughest feedback you’ve received? SA: During the competition, the coaches kept saying that our numbers weren’t “wowing” them. They weren’t able to clearly see the potential in the size of the business and, from their perspective, the market for our instruments seemed tiny. They were not impressed. -->--> I thought that if I could just prove the benefits they would see our side of things, but in these situations investors don’t really listen - they cut you off and remind you that you are not pitching to surgeons. It was a good reminder. As a doctor, I was focused on the immediate impact this could bring to my work. But I’ve been pushed to think about a much bigger focus. -->--> After this feedback we went and reevaluated our slide deck and our projections with the GNVC TA, Jamie Carmichael.  With his help, we realized that our presentation of the financials just wasn’t clear, and the judges might have interpreted our ‘unit model’—the sales we expected to make from one hospital—as our initial projections. So we’ve been working hard at revamping our slides to actually represent what we think the market for our product is...and we hope to "wow" the judges during the finals!-->--> As told to Meghan Keedy by Sheela Agarwal, ’16 (EXP-21)-->--> Read more about our students’ experiences in the Global NewVenture Challenge>>-->--> --> -->

FROM Booth EMBA Blog: Soaring Ahead: From Classroom to Boardroom

CM Hwang, '08 (AXP-7) at the 2012 opening of the Bell Helicopter Service Center in Singapore, an idea that began at Chicago Booth. When Chih Ming Hwang entered the Executive MBA Program in Asia in 2006, he sought validation of his business knowledge and credentials. He was happy with his career in sales, and hoped to move up in his company. He never imagined that, in a few short years, he would transition from working for a major corporation to running his own successful company - but that’s exactly what happened. -->--> Chih Ming (better known as "CM") was on an accelerated career path even before enrolling.  After serving as staff writer and photographer for the Republic of Singapore Air Force, he pivoted to the private sector and spent the next 23 years working in aviation. He held a variety of roles and was employed by Bell Helicopter as Business Development Director for Asia Pacific when he began his journey at Chicago Booth.-->--> A shift in gears was set into motion during CM’s second year in the program. He participated in the first iteration of the Global NewVenture Challenge [GNVC], the executive branch of Chicago Booth’s well known New Venture Challenge. This early offering of GNVC allowed executive MBA students a platform to develop a business plan and receive feedback from industry experts. -->--> CM saw this as a perfect opportunity to bring value back to his company. During his time at Bell Helicopter, he had observed a gap in the services they provided. The company was focused on their helicopter and parts business in the Asia Pacific region based out of Singapore but CM could see there was the possibility to do much more. -->--> One of the most valuable aspects of doing an Executive MBA Program is the amount of human talent available to you through your classmates. CM approached two study group members whose financial prowess he admired; they joined him and set to work writing a business case that called for a new Bell Helicopter Service Center to be built in Singapore, offering enhanced services to clientele. -->--> As they prepared the case, CM relied on skillsets he learned at Chicago Booth. He scoured his networks and connections to build common, vested interest in the project as he’d been taught to do by Professor Ron Burt, a social network expert. He referenced his Corporate Finance class to systematically structure the financials. He leaned heavily on what’d he’d learned in Strategy to think through the market needs. Lastly, he relied on a number of alumni connections facilitated through Booth’s Career Services. -->--> After honing their case in GNVC, the team used Bell Helicopter’s annual regional meeting to pitch the idea directly to company leadership. CM remembers a stark silence in the room after they finished. He wasn’t sure if the idea had taken root or not. No one spoke until the CEO weighed in: “How soon can you get this implemented?” -->--> Though it took several years to complete, CM oversaw the opening of the Bell Helicopter Service Center in Singapore in July 2012. It is a $30 million, 165,000 square foot facility with hangars for Bell and Cessna and now employs 100 people.  -->--> The experience changed the way CM viewed himself. “It caused me to imagine that I could do something different,” he remarked. He had taken a risk by stepping out of his sales role to take on something new. The venture’s success gave him a new level of confidence.-->--> Today, CM is leading a new company in the aviation industry – Aero Infinity. He decided to leave Bell Helicopter when his mentors suggested they would support him if he was ready to step out and “do his own thing.” Those early investors are now his current business partners. The company facilitates financing and leasing for aircraft and services private clients, corporations, airline carriers, and emergency medical personnel. Aero Infinity finalized their shareholders agreement in December 2015 and celebrated a soft launch during the Singapore Air Show, an event that exceeded their expectations. -->--> CM maintains an entrepreneurial mindset. He is driven to continue identifying needs unmet and thinking through how he might add value. At this point in his career, he finds himself pondering how he can contribute to society at large versus meet company KPIs. It’s a fulfilling position to be in. -->--> His best advice to would be entrepreneurs is simple: “Always double check information and validate the data” – a fittingly “Boothie” approach.  Meghan Keedy, Associate Director of Marketing Communications -->-->

I'm a current student in the executive MBA program based in Hong Kong. Please let me know if any has any questions!

I'm a current student in the executive MBA program based in Hong Kong. Please let me know if any has any questions!

FROM Booth EMBA Blog: Asking Your Employer for Support

With an Executive MBA, you’ll be able to work and study at the same time. Great! No need to give up your role, salary or responsibilities. Sounds good, but obviously this means you’ll also need the cooperation of your employer. Employer support needs to include time off to attend class, and some students are able to secure financial sponsorship, too. So, how should you go about securing employer support for the Executive MBA? One good way of approaching this is to create a business case, forming a persuasive argument for company support. You should use your case to demonstrate the ROI from a company perspective, focusing on their needs rather than your own. Before you compile your business case, do some background research. You’ll need to consider: • Why specifically have you chosen Chicago Booth? Why is this school and program a better choice for you than any others on the market? • How does the program fit with your career development plan at the company?  How will it help get you to where the company needs you to be in 3-5 years? • Why is the Executive MBA better than an internal learning and development opportunity, if appropriate? • Will this program meet a specific need at the company? Can a business case or challenge be addressed by the content of this course? Some of our students areable to do this quite successfully. • What is the required time commitment? How will you manage the time away from the office? This should include your responsibilities and also a plan for how you will allocate the time away (vacation days, personal days, etc.). • How much will it cost? Remember to include travel and accommodation costs as well astuition. How will you plan to cover the costs with or without company support? • What are you prepared to commit to the company in return for support? Examples of this include lock in periods, bonus or salary sacrifices, and tuition fee refunds if you leave the company. • What exactly are you asking the company to contribute? Be specific about the amount of funding and time off. Addressing these questions will help you figure out the appropriate level of support to request. They will also help you create a robust and convincing business case. Good luck! We’re here to help, so please let us know if you need a hand. Rachel Waites Director of Recruitment and Admissions, Executive MBA -Europe

FROM Booth EMBA Blog: Social New Venture Challenge: The Best Recipe

Frederic Mahieu is a Mathematics teacher at the Lycee Francais de Chicago and an executive MBA student at Chicago Booth. Below he writes about his experience competing in the Social New Venture Challenge [SNVC].  SNVC is a business launch competition organized by the Social Enterprise Initiative and the Polsky Center for Entrepreneurship and Innovation at Chicago Booth. Qualifying companies and organizations must show a focus on social impact as well as a model for financial sustainability. Similar to the NVC, students form teams to create a business plan and receive coaching from Chicago Booth faculty and industry experts. There are several “rounds” in the competition where teams present their business plans during live pitch sessions in front of investors. SNVC participant Frederic Mahieu, pictured at  Lycee Francais de Chicago, where he is a teacher. Photo courtesy of the Lycee Francais de Chicago. Imagine you want to cook a great meal. You have all the ingredients in place, but aren’t sure how to proceed. You know you have the potential to cook the best meal ever, but it could also go terribly wrong. That’s why you need a recipe that works. As a student looking to start my own non-profit business, I am the chef, and the best recipe I have found is the Social New Venture Challenge [SNVC] at Chicago Booth. -->--> I have been teaching mathematics to middle and high school students for 16 years. When I first arrived in Chicago from France in 2008, I felt that something was possible in this city. The energy, the culture, the constant desire for innovation that thrives here gave me a lot of ideas. After years working on diverse projects to popularize mathematics, I decided I wanted to open a Cultural Institute dedicated to Mathematics. -->--> You’re probably wondering what I mean by a Cultural Institute for Mathematics. You might even be thinking it’s a mistake – culture and math? Those two words don't usually go together. But yes, culture can be found in math. I envisioned an Institute where visitors can learn about mathematics in history, arts, music, architecture, finance, sports, technology and even the techniques used in animated movies. The objective is to create an emotional experience through the world of mathematics. As my idea crystallized, I knew I had the vision, passion and community contacts to start the Institute.  But I’m a math teacher. I have none of the skills required to create a company. That's how I found myself applying to Chicago Booth last year. -->--> Now that I’m here, I’m learning from scratch everything related to the management of a company. The curriculum is intense, but also fascinating. I’m learning all the ingredients needed to complete my “meal”: strategy, marketing, management, accounting, finance. But I needed a recipe to fully bake my idea. That’s where the Social New Venture Challenge comes in. -->--> Why is the Social New Venture Challenge the best recipe to succeed?  The first thing we worked on in the SNVC was creating a compelling pitch. As a participant, you’re asked to pitch in front of other students, coaches and investors. While this can be intimidating, you really benefit from the feedback. I used it to improve my approach and content. I learned that if you want to convince others to financially support your idea it’s not enough to be passionate and committed. You also have to prove the feasibility, growth and sustainability of your business, and weave that into your pitch. Starting your own venture is a risky business. Luckily, I found wonderful support for mine at Chicago Booth. I feel like I've been admitted into a family.  Professor Rob Gertner and the teams at the Polsky Center and the Social Enterprise Institute have been so kind with me, and everyone involved in the program has wanted to help us. We’ve been introduced to people whose backgrounds and experiences could help us, like Michael Lach, Director of STEM Education and Strategic Initiatives at CMSE and the Urban Education Institute and Barry Aprison, Senior Lecturer at the University of Chicago and Outreach Director of the Institute for Genomics & Systems Biology. These relationships are precious when launching a new venture related to math and museums. Through the SNVC, I’ve also been able to connect with the Chicago entrepreneurial community. 1871 is a center in Chicago for high-tech startups. I've been accepted to work there, and have been so inspired by the atmosphere of innovation. It's a great place to collaborate; as an entrepreneur, you're going to need designers, lawyers and even architects - and they can all be found at 1871. I've also become involved with the Chicago Innovation Exchange [CIE]. The CIE functions as a spot where young entrepreneurs can meet and work on their projects. They also offer conferences with successful entrepreneurs daily. This have been incredibly helpful - I always leave with so many ideas. Finally, I think it’s important to characterize how the SNVC guides you through this process. Never during the program were we told what to do or say. The professors and coaches never tried to change our projects. This is a crucial piece of Chicago Booth’s culture: They don’t tell you what to do; they push you to be the best at what you’re doing. Through the SNVC, my project didn’t change, it just became better. Frederic Mahieu, '17 (XP-86) Read more stories about entrepreneurship at Chicago Booth >> Aiming forthe Wow-Factor My Journeyto the Global New Venture Challenge LessonsLearned from the Chicago Booth New Venture Challenge