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FROM Haas Admissions Blog: Industrial Site Makeover Wins Over Judges in MBA Real Estate Challenge |
By Angela Steele, MBA 16 The Win: Tied for 3rd place in the 2016 UNC Real Estate Development Challenge The Team: (left to right) Breck Baird, EWMBA 18; Angela Steele FTMBA 16; Sam Grubner, JD 17; Michael Sullivan FTMBA 18 The Field: Sixteen teams from the U.S. and Europe's top MBA programs had four days to create a development plan for a former GlaxoSmithKline (GSK) manufacturing site in the borough of Ealing, West London. Teams flew to UNC to pitch their plans to a panel of judges—including the site developer, Greystar—in a tournament-style competition on February 19th. The Pitch: Our team proposed a high-density residential development with 500 condos for sale, 900 apartments for rent, and ground floor retail. We preserved the character of Greenford Ward by activating the Grand Union Canal with green space, an amphitheater, and a new pedestrian bridge. We also improved transit access by building two new roads and bike paths through the site. To accommodate demand for housing from students at nearby universities, our rentals included 100 student units. We recommended an equity investment of 84 million pounds to purchase the land. The Clincher: Our team conducted the most thorough feasibility analysis and met the needs of all stakeholders. Our plan rejuvenated the GSK site—a priority for the Ealing City Council; gave Greystar an opportunity to set the standard for new residential development in Greenford; satisfied the market demand for high-quality rentals and affordable condos; and provided equity investors a sizeable return. The judges from Greystar commented they would even be taking some of our findings back to London to present to the Ealing City Council! Related stories:
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FROM Haas Admissions Blog: Evening & Weekend MBA Retreat: New Ways of Thinking—and Working |
In the Evening & Weekend Berkeley MBA Program, innovation is experiential. As part of the core curriculum, students take Applied Innovation, a course culminating in the Mid-Program Academic Retreat (MPAR), also known as WE Innovate. In this deeply rigorous weekend for the part-time MBA program, students draw upon the business knowledge they've built through core coursework and their growing innovation skills to take on a current challenge faced by a top company, such as McDonald's, WalMart, and American Experess Labs. 260 students, 41 teams, and 26 corporate challenges. It all adds up to learning, reflection, innovation, and impact. Take a look at what goes on during the evening and weekend MBA program's WE Innovate weekend: Friday afternoon and evening The entire class of 2017 embraces a “beginner’s mindset” as they get to know new teammates and figure out how to work together. The room buzzes with the sound of roles, responsibilities, processes and timelines being hashed out. Too often at work, Kjiersten Fagnan (left), data science engagement group lead for Lawrence Berkeley National Lab, sees “people go up to their corners and try to think independently.” She says she’s really enjoyed the group dynamic of the weekend and the program. “You never know when someone might trigger an idea that the team can then connect and build upon.” Each team of four or five students is also meeting with its corporate partner. Participating in MPAR gives the companies “fresh ideas, new perspectives, and access to a great pool of potential employees,” says Eric Davis of corporate client Abbot Diabetes Care. Watch the WE Innovate MPAR Weekend Video After dinner, the teams reconvene to frame a series of “how might we?” questions that launch their work. Building on the work already done in Applied Innovation and on input from their corporate partner, they generate five ideas to pursue. Work continues as late into the evening as the teams’ enthusiasm and energy permit. Saturday morning, teams and partners revisit their earlier work and choose one idea to refine and present that afternoon. They gather in teams around flip charts in different corners of Napa's Silverado resort. Rainbows of Post-It® notes arc across the walls. The energy is high; the volume mounts as one idea builds on another. Teams focus on the user experience, crafting a customer story and figuring out how to tell it with precision and power. They refine their business models and identify next steps, checking in often with their corporate partners. “I used to think innovation was something people were born with, a spark. Now I know better,” says Dominus Suen (above, center), a project manager with construction giant Syserco. “Classes like AI and Problem Finding Problem Solving have taught me how to bring up new topics and show my co-workers why new ideas are so important.” Early Saturday Afternoon A working lunch gives teams more time to polish their presentations—no PowerPoint allowed! Instead, teams use their eight minutes (plus two minutes for questions) to make an authentic connection with their audience. Haas Executive-in-Residence and former Yahoo Marketing VP David Riemer coaches teams on honing their stories for maximum impact. “Come back to the customer” is a frequent and critical piece of advice. For example, The Gap team has good ideas about recycling worn T-shirts—“Imagine them being remade into a brand-new tablecloth”—but needs to get closer to the customer who would buy the tablecloth. The students, accustomed to receiving feedback, pivot easily. Later Saturday Afternoon Each team presents its story, solution, and business model to a small group of students and faculty members, who give both qualitative and quantitative feedback. The best presentations then go head-to-head in front of the entire audience, vying for the coveted MPAR Cup. But even better than taking home the trophy is what students bring back to their jobs. Richa Gujarati (right), for example, has done a lot of design thinking on the job as a product manager at St. Jude Medical, but was excited to apply the new frameworks learned at Berkeley-Haas to a new product development concept at St. Jude—and to share them with co-workers. “People really tuned in and were very creative,” she says. “I’ve realized there’s a lot of value in going out of your comfort zone.” |
FROM Haas Admissions Blog: 3 Years After MBAs Consult, an Innovation Hub Opens in Bulgaria |
Benny Du, SuengHo Song, Bulgarian President Rosen Plevnelien, Hassam Hussain, & Dan Tavares In Spring 2012, four Berkeley-Haas students sat down with the president of Bulgaria to create the beginnings of a plan for the country's first science and technology park. Fast forward to December 2015 and the students—Benny Du, SuengHo Song, Hassam Hussain, and Dan Tavares, all MBA 13—got some great news: the Sofia Tech Park has opened for business. The state-owned park is partnering with private and public institutions to encourage innovation, build educational programs, and provide support to startups. Working on the project was “rewarding and life-changing experience,” Du says. “We put our diverse skill sets and experience to work in helping Bulgaria build a new ecosystem that will help the country move up the innovation ladder and really be that innovative leader in Eastern Europe.” All four students worked on the project while enrolled in the Berkeley-Haas International Business Development course, which is designed to give students real-world business consulting experience. Teams have traveled from Albania to Zambia with the program. For this project, the MBA students were asked by the Bulgarian Ministry of Economy, Energy and Tourism to define the scope of the new science and technology park project, including potential challenges to development and the governance mechanisms required for it to succeed. Elitsa Panayotova, now the executive director of Sofia Tech Park, was the students’ main contact in Bulgaria. Google, Hewlett Packard, and Cisco have all helped with its development. During the planning stages, the students received input from Adj. Prof. Andrew Isaacs, director of the New Management of Technology Program at Berkeley-Haas, and from Bay Area-based Melinda Richter, head of Johnson & Johnson Innovation. The students' work in Bulgaria included a series of meetings with key stakeholders, including President Rosen Plevnelien. They also visited Startup Weekend in Sofia, where they met with local entrepreneurs and investors, including partners from a local accelerator fund that planned to make roughly 200 investments. From their meetings, the student found there was also a strong sentiment that the technology park should truly foster innovation and collaboration and not just be another business park with nice-looking buildings. They found that businesses, especially start-ups, needed services that would help lower their up-front capital costs, such as legal support, labs for rapid prototyping, and access to key licenses. The students also recommended that park focus on the information and communications technology sector, where there’s market need and core competencies in place. “We're very proud of the work that we did and the four of us would love to do a reunion in Sofia at some point in the future,” Du said. |
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Watch earlier episodes of DI series below EP1: 6 Hardest Two-Part Analysis Questions EP2: 5 Hardest Graphical Interpretation Questions
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