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Events & Promotions

Events & Promotions in June
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Calling all Kellogg Applicants (2015 Intake) Class of 2017 !

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On your graduation day [#permalink]

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New post 19 Jun 2015, 10:00
FROM Kellogg MBA Blog: On your graduation day
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By Dean Betsy Ziegler

Good morning, graduates!

Today is a big day and you should feel very proud. My Kellogg journey has been shared with many of you, so I am sure you know this day is particularly meaningful to me as well. Your graduation, the convocation events this week and the exit conversations I’ve had with members of this class have inspired a bit of personal reflection.

Over the last 15 + years, I’ve developed five “life mottos” that I wanted to pass along to you to consider as you take the next step in your life journey.

1. Aspire to achieve no unmanaged outcomes

For any personal or professional situation, envision the outcome you desire, think through potential challenges, get out ahead of the situation and pre-solve for any issues. This requires moments of deep thinking, great organization and the courage to articulate what is important to you – despite potential resistance. Try it. I promise that once you start thinking this way, you will feel much more in control of your career and life.

2. Cultivate mentor and mentee relationships

Mentors matter – we all need support. Finding a mentor should be at the very top of your to-do list. My personal mentors have changed every five years or so. I’ve needed different guidance over time and different mentors to meet those needs. Understand how you too can begin to mentor others. My mentor-mentee relationships continue to be some of the most rewarding of my life.

3. Focus on your response to the “bounce” vs. the “bounce” itself

You will make mistakes. Some will be big, and some will be small. I’ve made dozens over my career. Your mentors and those more senior than you have also made them, even though they may not talk abut them. In my experience, people won’t remember the mistakes themselves (or the negative bounce), they will remember how you respond to those situations. Attitude, perseverance, standing tall supersedes all else.

4. Resist the urge to go underground

You will have moments of sheer panic – that you were a hiring mistake; that you made an unforgivable error on an analysis; that you are overwhelmed by the workload/responsibility. I promise you this is normal and happens to everyone, even if they don’t want to admit it. Resist the urge to go underground and hide. Instead, ask for help, say you don’t know if you don’t know or call your friends for support. It is a sign of strength to say you don’t know but are willing to do everything you can to figure it out, to find the answer, to solve the problem. Organizations that hire Kellogg graduates do not make hiring mistakes. Remember, you belong, you have earned a seat at the table. You will be great, but you can’t be great totally on your own … something you’ve undoubtedly learned at Kellogg.

5. Plan to live a full and happy life

Every six months that I was at McKinsey, I asked myself – Am I still learning? Am I still making an impact? Am I still having fun? For 11 years, the answers to these questions were yes. At year 11, I started to feel differently, so wrote out a 40×40 list (things I wanted to do by the time I was 40) and started executing. My world totally opened up. I was a seat filler at the Primetime Emmys, travelled around the globe, attended the Aspen Ideas Festival … and I made choices that got me to Kellogg. I firmly believe that you have to plan to live a full and happy life. It is so easy to get caught up in the routine, put your head down and work, and define yourself by your professional accomplishments. Figure out what is important to you over time (not necessarily what others think is important), and make intentional choices that bring you the greatest personal happiness. You may want to walk down a path that everyone around you thinks is crazy or risky. If you have conviction that this path will make you happy, make the brave choice and take it.

Each of you is amazing. You are a Kellogg leader, an achievement few people can claim. Many doors and opportunities will be open to you. Have confidence, articulate what is most important to you and use that as your guidepost for navigating life’s big decisions.

While your days as a student have come to an end, your connection to Kellogg lasts for a lifetime. Take advantage of the opportunities provided by our global alumni network – leverage it and contribute to it.

I look forward to seeing each of you on the graduation stage later today and hearing about all of your personal and professional success going forward.

Thank you for all that you have contributed in the classroom, through the clubs and conferences and in/around the broader community. Congratulations!

Betsy

Dean Elizabeth Ziegler is the Associate Dean of MBA Operations and Dean of Students at Kellogg. Follow her on Twitter @DeanZ_Kellogg.

Filed under: Business Insight, Career, Student Life Tagged: Advice, Betsy Ziegler, Convocation, Dean Z, graduation, life mottos Image
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Faculty advice for the Class of 2015 [#permalink]

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New post 22 Jun 2015, 08:00
FROM Kellogg MBA Blog: Faculty advice for the Class of 2015
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“Be curious and don’t stop learning. The world is constantly evolving, and you should be too.” — Brayden King

“Leadership is often determined by the courage of the questions you ask, not only the answers you give.” — Michelle Buck

“Never allow yourself to get so busy that you starve the relationships that matter most.” — Nicholas Pearce

Kellogg celebrated the graduation of the Class of 2015 this past weekend. Prior to the ceremony, Kellogg’s faculty members were asked to offer their advice to the new graduates.

Their responses ranged from the ideas of working hard and constantly learning to remembering to smile and focusing on more than just work.

Take a look at their more than 60 pieces of advice.

Filed under: Business Insight, Career, Student Life Tagged: Advice, Convocation, faculty, graduation, Storify Image
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Advice for new students from Kellogg grads [#permalink]

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New post 23 Jun 2015, 09:00
FROM Kellogg MBA Blog: Advice for new students from Kellogg grads
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The Kellogg School of Management welcomed new students to its One-Year and MMM MBA Programs on Monday, June 22. The students were welcomed with a collection of advice from the Class of 2015. Take a look at some of the graduates’ words of wisdom.

“Get involved early and often because it goes by way too quickly.” — Jon Edwards

“Be very clear about what you want to accomplish while here.” — Carri Cowan

“Be open to new experiences, and always have a smile.” — Adam Goldberg

“It’s a unique two-year experience you’ll never have a gain. Take advantage of every opportunity you want.” — Jordana Cohen

“Follow your dreams.” — Sambuddha Bhattacharya

Read the complete list of advice on Storify

See what advice Kellogg faculty gave to the graduates

Filed under: Academics, Career, Student Life Tagged: 1Y, Advice, graduates, graduation, MMM, new students, One-Year MBA Program Image
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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2,000 miles away and still a part of Kellogg [#permalink]

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New post 24 Jun 2015, 10:00
FROM Kellogg MBA Blog: 2,000 miles away and still a part of Kellogg
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By Jena Mills

When my boyfriend was accepted into the dual-degree MMM Program at Kellogg, I was absolutely overjoyed, just like any other brand new JV (Joint Venture)! All of a sudden, we had a whole new city and non-coastal lifestyle to explore. We were so ready for the adventure!

The catch about adventures, exciting though they may be, is that there’s always an adjustment period. A new routine. A new environment. New friends … basically a new normal.

Our normal at the time was me in Los Angeles, where I was in medical school, and my boyfriend in San Francisco, where he worked as a consultant for Frog Design. We managed that long-distance relationship for three years, so we were already aware of the excitement and challenges ahead of us.

As I watched him move off to Evanston last summer to start school, I worried about whether or not I would be able to meaningfully participate in the experience as a long-distance JV. I knew from a great friend (a recent Kellogg alum) and his then-JV (now fiancé), that the Kellogg community was exceptionally supportive of JVs, allowing them to audit classes and run extracurricular groups, but how could I possibly be a part of all that being 2,000 miles away?

I soon came to realize that I really had nothing to worry about.

Within weeks of his acceptance, my boyfriend’s KBud (business school “big sib”) put me in touch with another long-distance JV in medical school — a JV KBud of my own. She was someone I could contact with questions/concerns, and just generally someone with whom I could relate.

I learned the important lingo, came to understand FOMO and came to appreciate what a “team meeting” actually entails. I immediately felt better and more prepared with tools to tackle this new adventure.

My first visit to Evanston was over the Fourth of July weekend. At this time, only the MMM (and 1Y) students had started school, and I was so excited to meet all the new friends I had heard about over the phone. We spent the day playing beach volleyball at North Beach and gathered on an Evanston rooftop for fireworks that night. Everyone was amazingly warm, and every student or JV I met was so excited to welcome me to the Kellogg family.

I cannot emphasize enough what a huge part of the culture this is, and it speaks volumes about the kinds of people Kellogg hopes to bring into the community. They care so much about creating an accepting, familial atmosphere, and it shows!

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At the end of the summer, I was fortunate enough to go on a KWEST (Kellogg Worldwide Experiences & Service Trips) trip to Northern Spain, and I made some of the most wonderful friendships with students and fellow JVs. Despite the fact that I have only been able to visit Evanston a handful of times since then (mostly for the major seasonal formal events), I still feel like I’ve had every opportunity to engage with the community.

Regardless of the event, an invitation is unconditionally extended to me if I happen to be in town. Whether it’s Kellogg’s Hoot for the Homeless Halloween bash, a DAK (Day at Kellogg) leader preparation event, team meetings over dinner, or sitting in for a one-day audit of Professor of the Year Gad Allon’s Operations Strategy course, I have always felt welcomed and encouraged to participate when I’m in town.

I genuinely feel like, in my own way, I am an important part of the community and an important part of my boyfriend’s experience in business school.

I have learned quite a bit this first year as a Kellogg JV. Business school is an incredible experience, for students and JVs alike. It is genuinely unlike any other experience I have ever known, and I am so grateful to be a part of the Kellogg community. I have honestly felt extremely well-supported and very much included in the experience, more so than I could have ever hoped for.

So for all you potential future long-distance JVs out there, let me be the first to say that we are so excited to welcome you into the Kellogg family!

Jena Mills is the girlfriend of Diego Depetris, who is currently in Kellogg’s MMM Program. Jena received her M.D. from the Keck School of Medicine of USC this past May and just moved to Chicago to start a surgical internship at Presence Saint Joseph’s Hospital – Chicago. She’s especially excited to adjust to life as a non-long-distance JV!

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Statistical fluctuations and dependent events [#permalink]

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New post 25 Jun 2015, 10:00
FROM Kellogg MBA Blog: Statistical fluctuations and dependent events
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Current student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts here.

In my last MBA learning post, we dove into the idea of managing queues by managing our utilization. In that post, we briefly discussed why queues form. Today, I’d like to dig deeper into that question.

So, why do queues / delays occur? They occur due to a combination of statistical fluctuations and dependent events. In simpler terms, statistical fluctuations can be described as variability. If we go back to the analogy of the ice cream stall, it is unlikely that the queue is exactly five people through the day. There will be times when the queue will be long and then times when it will be short. These differences are statistical fluctuations.

Life in the world of managing queues becomes harder when you combine statistical fluctuations with dependent events. A beautiful example of this combination at play is demonstrated in this 1 min 46 sec video called “The Subway Delay Story” by the MTA, New York’s subway operator.



In this video, the sick passenger requiring assistance and an emergency stop is an example of variability. And, every train behind the held train is a dependent event.

Another simple example of statistical fluctuations and dependent events at play is in connecting flights. We all have probably experienced delays in one flight that results in a chain reaction of delays in other flights. As a result, most airlines experience a deteriorating performance in their arrival times as the day progresses.

So, what can we do about statistical fluctuations and dependent events? Well, books have been written on the subject, So, instead of attempting a comprehensive answer, I’m going to share my simplified set of three ideas you can apply immediately in your life:

1. Be sensitive to the combination of statistical fluctuations and dependent events in your own life. 

One simple application would be to avoid scheduling back-to-back meetings through the day. It is inevitable that one of them will spill. And, this, in turn, will result in a chain reaction through your day.

2. Control for statistical fluctuations / variability by building in safety capacity. 

This is a continuation of the idea of reducing your “utilization” and building in safety capacity. So, if you are scheduling many meetings during the day, leave little gaps in between so you can catch up on delays caused by fluctuations.

3. Look for creative ways to reduce variability. 

Disney offers “fastpass” tickets to various rides that allow customers to skip the queue at these rides at certain times. These times are designed such that groups of customers are incentivized to go to these rides at different periods during the day – thus, reducing the likelihood that everyone shows up at the same peak time. The equivalent in our personal life would be to plan ahead and avoid deliverable “peaks.” If you foresee two projects coming due in the same week, finish one up a week earlier and treat yourself (equivalent to the fastpass) so you avoid the peak rush.

And, finally, look out for statistical fluctuations and dependent events in the coming week. It changes the way you think about queues. And, if that isn’t magical, what is?

Rohan Rajiv just completed his first year 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: management, MBA Learnings, operations Image
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My first week in the One-Year MBA program [#permalink]

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New post 01 Jul 2015, 08:00
FROM Kellogg MBA Blog: My first week in the One-Year MBA program
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By Amrit Chavada

It’s hard to believe it has only been a week since I stepped into the Jake (Kellogg’s Jacobs Center) on Northwestern’s Evanston campus. The past seven days have been a whirlwind of activities, all a part of CIM — Complete Immersion in Management — the orientation program for new students.

From information sessions, course selection to fun team-building events like improv sessions, baseball games and cruises, CIM was a fun transition into school mode.

Here are my three highlights from CIM:

1) Introspection:

Throughout the orientation we were constantly asked to evaluate what our overall life goals are and think about how Kellogg fits into those. Business school is a great opportunity to evaluate or re-evaluate life goals.

2) Peers:

The saying, “If you’re the smartest person in the room, you’re in the wrong room” applies very well here. As a part of CIM, a member of the admissions committee read some of the achievements of my fellow classmates (without identifying who each person was). I knew then and there I was definitely in the right room.

3) Team Building:

In just a week’s time, I am able to recall over fifty of my section mates’ names. As a person who usually struggles with getting names and faces right, I can attribute it largely to an alliterative name game we played as a part of our CIM activities. Going out together every night also helped.

The combination of CIM and my first few classes have definitely put to rest some of my apprehensions about getting back in the classroom. Like most of my fellow 1Ys, I am looking forward to a beautiful summer of learning and fun in Evanston!

Amrit Chavada is a student in Kellogg’s One-Year MBA Program. Prior to Kellogg she worked in brand management and marketing roles in retail. She is from Mumbai, India.

Learn more about Kellogg’s One-Year MBA Program.

Filed under: Student Life Tagged: 1Y, cim, culture, new student, One-Year MBA Program Image
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Internship credibility, powered by the MMM program [#permalink]

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New post 02 Jul 2015, 07:00
FROM Kellogg MBA Blog: Internship credibility, powered by the MMM program
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By Shriansh Shrivastava

One of the unique tools Kellogg’s MMM program teaches is Design Thinking. Now in industry, Design Thinking is generally associated with agile design houses like IDEO, Frog and Doblin. It brings to mind visions of bright rooms decorated in white and primary colors, full of whiteboards, sharpies and foam core.

I’m guilty of making this association myself. So that last thing I expected when entering Dell as an intern this summer was an invite in my calendar for a training session on Design Thinking. The training was cool (though nothing new for me, thanks to the MMM program). Apart from making me feel even more awesome about Kellogg, it motivated me to look into how such an agile, fast framework was being used at a company as large and mature as Dell.

Read about my experience (with a quick introduction to design thinking) here: http://j.mp/ShrDell1 (comments and questions welcome).

Learn more about “Thepower of design thinking” and “10 tips to be an effective design thinker” from Greg Holderfield, director of the Segal Design Institute, clinical associate professor and co-director of the MMM program.

Soon to be a second-year MMM student at Kellogg, Shriansh Shrivastava is currently (summer 2015) interning at Dell as a Product Marketing Senior Advisor for the high-end precision line of workstations. At Kellogg, he loves case competitions, is VP of Academics for the MMM program and a student leader for the Kellogg Innovation Network. Follow him on Twitter: @shriansh.

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Where Kellogg Admissions is this week: July 6 [#permalink]

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New post 06 Jul 2015, 10:00
FROM Kellogg MBA Blog: Where Kellogg Admissions is this week: July 6
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The Kellogg Admissions Team is hitting the road this summer and traveling around the world to meet with prospective students and provide information about the school’s Full-Time MBA programs.

See below for where Admissions representatives will be this week.

WHEN: Monday, July 6

WHERE: Santiago, Chile

Register and learn more about this information session

WHEN: Wednesday, July 8

WHERE: Lima, Peru

Learn more about this information session

WHEN: Wednesday, July 8

WHERE: Tokyo, Japan

Register and learn more about this information session

WHEN: Thursday, July 9

WHERE: Seoul, South Korea

Register and learn more about this information session

WHEN: Saturday, July 11

WHERE: São Paulo, Brazil

Register and learn more about this information session

See where else you can meet the admissions team this summer.

If you plan on being in the Chicago area, you can also arrange for a campus visit, where you can learn more about Kellogg and the student experience.

INSIDER ACCESS
Want to know some tips for applying from the Director of Admissions for Kellogg’s Full-Time MBA Programs? Take a look at her five-part blog series.

Curious to know how Kellogg assesses its applicants? Learn how the Admissions team evaluates each application.

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Kellogg application now available [#permalink]

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New post 08 Jul 2015, 09:00
FROM Kellogg MBA Blog: Kellogg application now available
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We are excited to announce that the 2015-16 application for Kellogg’s Full-Time MBA program is now available.

The Kellogg Admissions team strives to get to know you as a person and understand what you want to get out of your experience. The application process provides our team with many opportunities to find out more about you, wherever you are in the world.

One of the ways we get to know you is through your essay questions. This year, the application features two essay questions, which can be found below:

  • Leadership and teamwork are integral parts of the Kellogg experience. Describe a recent and meaningful time you were a leader. What challenges did you face, and what did you learn? (450 words)
  • Pursuing an MBA is a catalyst for personal and professional growth. How have you grown in the past? How do you intend to grow at Kellogg? (450 words)
Later this month, the blog will feature two posts by Beth Tidmarsh, director of admissions for Kellogg’s Full-Time programs, who will provide more background on what the Admissions team is looking for in your essay question responses.

In addition to the written essay questions, our application features video essays that provide applicants with an additional opportunity to demonstrate what they will bring to our vibrant Kellogg community. Each applicant will complete two short video essay questions. The questions are designed to bring to life the person we have learned about on “paper.”

Learn more about the essays and application process.

As you are thinking about your application, take a look at Tidmarsh’s two series’ on “Tips for Applying” and “How Kellogg applicants are assessed.”

As always, if you have any questions, do not hesitate to reach out to the Admissions team directly at mbaadmissions@kellogg.northwestern.edu.

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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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Kellogg switches up MBA essays (via Poets & Quants) [#permalink]

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New post 09 Jul 2015, 12:00
FROM Kellogg MBA Blog: Kellogg switches up MBA essays (via Poets & Quants)
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The Kellogg Full-Time MBA application became available for applicants yesterday, July 8. Among other requirements, the application features two essay questions and two video essays.

Learn more about the application process

Kate Smith, assistant dean of admissions and financial aid, spoke with Poets & Quants’ John Byrne about what’s new with this year’s application, what stayed the same and what the admissions team hopes to learn from applicants.

Read the full story on Poets & Quants.

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How and why companies invest in foreign entities to avoid tax | MBA Le [#permalink]

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New post 10 Jul 2015, 10:00
FROM Kellogg MBA Blog: How and why companies invest in foreign entities to avoid tax | MBA Learnings
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Current student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts.

There’s been a lot of news over the years around companies who book their revenues in foreign entities and avoid taxes. Amazon, Starbucks, Google and a few others have been tried in courts because of an inordinate amount of revenue booked in Luxembourg. Let’s take a few moments to deconstruct this:

Let’s imagine a company earns $200 in revenue. Let’s also assume costs are $100 => Profits are $100 as well.

Now, the $100 is subject to tax. So, $30 goes to the government (assuming a 30% tax rate) and $70 goes back to the company as after-tax profits. If the company is a fast growing company like Amazon or Facebook, it’ll generally choose to re-invest the amount in growth. And, if it is a slower growth company, a large portion of this amount generally finds its way back to shareholders.

Given the incentives in place for the shareholders to maximize their wealth, the 30% tax is an “unnecessary burden” (if you take the point of view that taxes are nothing but a waste of cash forgetting that it is taxes that provide the infrastructure for businesses to thrive). As a result, companies typically adopt two common strategies.

1. Take on debt

Even if our imaginary company doesn’t really need debt, it takes on $1000 of debt. Assuming a 5% interest rate, it now has to pay out $50 this year. As a result, its profits are now $50 => the amount paid in taxes is halved to $15. Shareholders are happier.

However, debt comes at a cost. Let’s imagine this company invests the $1000 in a risky venture that doesn’t work. Now, it has to pay interests out of its core business profits. The good news is that it has a strong core business and the interest amount doesn’t dwarf the profits of the core business. So, in this case, we’re safe. However, when companies take on huge amounts of debt to fund large investments, they can often end up paying a lot more than interest in the form of “Costs of Financial Distress” or “Bankruptcy costs.” This happens when the market believes its debt burden is too high and the stock begins losing value.

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The takeaway here is that there is an optimal amount of debt for every company where the benefits gained by paying lesser taxes are lesser than the costs of financial distress. That’s why capital structure (the ratio of debt to the overall value of the firm) matters.

2. Create foreign subsidiaries

If Luxembourg offers a 0% tax rate, it pulls companies toward investing in a foreign subsidiary based out of Luxembourg. This way, our imaginary company’s tax payers don’t lose any value to taxes. The only condition here is that the money earned in Luxembourg has to stay in Luxembourg. If the company tries to bring it to the US, it’ll have to pay the 30% in taxes. Large multinationals don’t have problems doing this, of course. There are plenty of local investment opportunities.

So, as companies become increasingly global, we’re going to see more of the foreign subsidiary strategy brought in to play. Given a company’s incentives, it is common sense to optimize its tax payments because its value in the market is driven by the value it returns to its shareholders. This conflicts with the interests of the regulators, of course.

But, if there’s one thing I’ve learned about markets, they’re rife with conflicts of interest.

Rohan Rajiv just completed his first year 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.

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Where Kellogg Admissions is this week: July 13 [#permalink]

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New post 13 Jul 2015, 10:00
FROM Kellogg MBA Blog: Where Kellogg Admissions is this week: July 13
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The Kellogg Admissions Team is hitting the road this summer and traveling around the world to meet with prospective students and provide information about the school’s Full-Time MBA programs.

See below for where Admissions representatives will be this week.

WHEN: Monday, July 13

WHERE: Rio de Janeiro, Brazil

Learn more about this information session

WHEN: Monday, July 13

WHERE: Beijing, China

Learn more about this information session

WHEN: Tuesday, July 14

WHERE: Shanghai, China

Learn more about this information session

WHEN: Wednesday, July 15

WHERE: Bogotá, Colombia

Learn more about this information session

See where else you can meet the admissions team this summer.

If you plan on being in the Chicago area, you can also arrange for a campus visit, where you can learn more about Kellogg and the student experience.

INSIDER ACCESS
Want to know some tips for applying from the Director of Admissions for Kellogg’s Full-Time MBA Programs? Take a look at her five-part blog series.

Curious to know how Kellogg assesses its applicants? Learn how the Admissions team evaluates each application.

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My One-Year transformational experience [#permalink]

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New post 14 Jul 2015, 08:00
FROM Kellogg MBA Blog: My One-Year transformational experience
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By Matt Brocks

Going back to school in my 30s wasn’t something I originally planned.

I studied business as an undergraduate and switched into an enjoyable consulting career after earning my master’s degree in industrial and labor relations. Yet my dad always told me that “your education is something that can never be taken away from you.” After some reflection on his advice and some prodding from a partner at my firm, I decided an MBA would be a great addition to my resume.

Given my education and experience, I only considered accelerated one-year programs. Kellogg’s One-Year program clearly emerged as the program for me thanks to my interactions with students and alums and my experience at Day at Kellogg (DAK).

As a 1Y, I recognized that time would be precious, and I wanted to ensure I maximized my time in Evanston. After giving some thought to how I would use my time in school, I landed upon a few guidelines to help shape my experience:

“Eat my vegetables”

I could have focused on Human Resources or Marketing and Supply Chain, topics I’d previously studied and applied in roles at various firms and clients. However, I felt not pushing myself to grow stronger in the areas I was weakest in would have negated the purpose of taking time off from a lucrative career. Taking MBA-level finance classes at a top program challenged and humbled me, but it helped me close the gap in my skill set, improved my ability to impact clients and strengthened my ability to reach my personal goals in real estate and hospitality investing.

Explore new areas of interest

It was while scanning the fall course offerings for a class that would fit my schedule that I came across Kellogg’s Real Estate Finance and Investments course. Most classes at Kellogg are agnostic of any particular industry (e.g. a marketing class at Kellogg might cover everything from dog food to banking to motorcycles), yet here was a class focused on a particular industry I knew virtually nothing about.

I decided to take this class for two reasons: I knew nothing about the topic and it enabled me to finish classes in time to enjoy an afternoon run before sunset.

Yet REF&I represented a turning point for me.

It turned me onto an industry that grabbed my interest and I could see myself pursuing in the future. It also reinforced the finance concepts that needed reinforcing (see “Vegetables” above). I continued to study real estate throughout the year and capped off the year by captaining the team that would represent Kellogg in the Kellogg Real Estate Venture competition (an invitational competition against other top MBA programs from across the world). This would not have happened if I never took the opportunity to explore new areas of interest.

Build my confidence and network to make things happen

I’ve often thought about running my own company (what type or industry is still TBD, but the desire is there). In an era when people switch jobs more frequently than some opt to visit the dentist, an era in when doors open (and close) with little advance notice, I believe two things are increasingly important:

(1) Having the technical skills and confidence to recognize and successfully act upon a given opportunity

(2) Having a network of advisors and friends to help test, refine and strengthen any concept or idea.

School and experience inherently provide the first, but it was my time at Kellogg that provided the second, in spades I might add. The Kellogg community is made up of a diverse group of students (and their significant others, known as “JV’s”), faculty and administrators from across industries, regions and backgrounds. We arrive in Evanston as strangers, but form incredibly strong bonds over challenging lectures, intricate case studies, travel experiences and other social outings.

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This year provided the opportunity to meet and grow close to current and future thought leaders, CEOs and burgeoning entrepreneurs, and it is their friendship I will lean on and learn from as I continue to carve my own path.

Kellogg offered me an amazing experience, and the 1Y program gave someone like me the product offering that best met my needs to help capitalize on future opportunities. The time spent in Evanston was brief, but the guidelines I set for myself helped maximize my time and enabled me to enjoy a year that transformed the way I think and how I will interact with the world going forward.

Matt Brocks graduated from Kellogg’s One-Year MBA program in June 2015 with a major in Management & Strategy. In fall 2015 he will be returning to Deloitte Consulting, where he previously spent four years serving clients in the healthcare, technology and CPG industries.

Learn more about Kellogg’s One-Year MBA Program.

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Re: Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! [#permalink]

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New post 14 Jul 2015, 11:11
The MBA Recruiting Process – Insights from Darden ’15 Grad and CEO of RelishMBA

Hello from the RelishMBA team, and congratulations on being admitted to the MBA Class of 2017! My name is Sarah, and I’m a recent Darden School of Business graduate who founded RelishMBA, an online recruiting platform built specifically for the business school recruiting market. As a recent grad who works full-time in the MBA recruitment space, I wanted to share some recruiting advice and tips to help you prepare for arriving on campus at Kellogg.

The first thing to be aware of is that MBA recruiting is a long and intense process. Recruiting activities begin quickly once you’re on campus and they take up a huge amount of your time and energy for most of your first year. While virtually all top MBA students have great jobs available to them, finding those jobs can be frustrating and stressful, with relevant information often hard to find and a complex networking process that can be tough to effectively manage. I started RelishMBA to address these problems and make the process more efficient for both students and employers.

The summer is a great time to get started with recruiting processes (while you don’t have to worry about school, student clubs, social life, and the dozens of other activities that fill up your time during first year). Luckily, there are a few things you can do to prepare before school starts in August: Relax. Explore. Prepare.

Relax – business school is a big change from the working world; take a bit of time off. You deserve it and you’ll need the break!

Explore – In your time relaxing, begin checking out what industries and companies recruit MBAs. This is something RelishMBA helps with. Sign-up at RelishMBA.com to begin exploring employer’s company pages on MBA Careers specific for your school (“day in the life” alumni testimonials, on-campus presence, key points of contact, etc.).

Prepare – And lastly, get your resume ready. Below are some tips from my experience.
It’s also important to remember that once you’re on campus, you’ll be networking with recruiters and alumni frequently – and RelishMBA will help you here too, through relationship management tools that make it easy to stay on top of your networking game. Have any questions? Reach out anytime at recruit@relishmba.com.

Resume Tips:

1) Writing your resume is your first Marketing assignment

Your resume is essentially a one-page advertisement designed to sell your brand to employers. But as your first year marketing class will tell you, marketing is about a lot more than just a fancy design and a few well-placed buzzwords. Think about your audience (i.e. who will be reading your resume? Finance recruiters? Consultants? Marketers? Others?) and how you are positioning yourself with that audience (i.e. what work experiences would be most relevant or interesting to the recruiters reading your resume?).

For example, if you’re headed up to Wall Street, focus on the more quantitatively rigorous parts of your work experience, and try to make sure that your resume as a whole reflects an interest in and passion for finance and its associated disciplines. Future consultants will want to highlight problem-solving and analytical thinking. Marketers could talk about leading cross-functional teams or point out examples of especially effective communication.

And if you are not sure what you want to do, don’t sweat it – there are lots of you out there, and it’s no big deal for the next few weeks or months. But regardless of your eventual industry or function targets, remember: your resume is not just a chronicle of your past work achievements; it is an advertisement designed to effectively sell you and your brand to recruiters.

2) Be concise but specific

This is one of the more difficult parts of honing your resume: providing specific examples of relevant work accomplishments in a way that a recruiter can easily digest in a few seconds. Try starting each bullet point with a strong action word. Instead of saying something like “Helped to more than double sales during tenure in catchment area,” try something like “Launched blogger outreach program that increased web traffic by 72% and increased sales by 120%”.

These sorts of hard numbers are really helpful, especially since many recruiters will spend only a few seconds looking at your resume and those numbers stand out on the page. So it’s also important to be sure that your bullet points can be read and processed easily. And if you don’t have a lot of specific numbers to add to your resume, it’s still important to be specific about your accomplishments and to pick your words wisely.

3) Add some flair

You should be careful with how much flair you add to your resume, but it’s a good idea to think of ways to set yourself apart from the competition. The “Personal” section at the bottom of your resume, where you list hobbies, activities, and interests, is an easy place to hook a recruiter (or break the ice in an interview). Only mention things that are truly a part of your life, but still consider your audience and which of your hobbies or experiences might be of interest to the recruiters reading your resumes. Once you reach campus, you’ll hear plenty of stories about students who were able to land first or even second-round interviews largely on the basis of what seem like minor resume items.

Other ways to add flair:

-Were you kind of a big deal in college? It’s worthwhile to mention any particularly important or impressive extracurriculars from your undergrad days (particularly leadership roles), and including club affiliations and other school-specific positions can be a good idea once you get onto campus

-Recruiters are looking to hire real people, not business robots. Make sure your resume – the accomplishments you choose to mention, the structure and content of the Personal section – reflects your personality.

4) Don’t be careless

This is the part where we tell you that a few people every year submit resumes with misspelled words or mismatched fonts or other significant but easily avoidable mistakes, and that you could be one of those people if you’re not careful, and you think “I’d never be that much of an idiot,” and then you send your resume to McKinsey or Google with your name spelled wrong at the top. Don’t be that person.
Seriously, just get a friend to read it. Several friends. Have a resume-reading party. But don’t spell your name wrong.

Have any questions? Reach out anytime at recruit@relishmba.com

Sincerely,
RelishMBA Team

_________________

RelishMBA is a centralized recruiting platform designed to streamline how students at top business school connect with the companies that recruit them. With filtered search tools and customizable profile pages, students and recruiters can find and target candidates and firms with the best fit. Access all of your school’s recruiting resources from one platform and easily track your networking relationships. An exclusive network for MBAs, Career Services, and Employers.

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How to answer Kellogg’s essay questions — Part 1 [#permalink]

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New post 15 Jul 2015, 09:00
FROM Kellogg MBA Blog: How to answer Kellogg’s essay questions — Part 1
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The 2015-16 Kellogg Full-Time MBA application features two distinct essay questions. In the first of a two-part series, Beth Tidmarsh, director of admissions for Kellogg’s Full-Time program, reveals how to write a stellar response.

Question 1: Leadership and teamwork are integral parts of the Kellogg experience. Describe a recent and meaningful time you were a leader. What challenges did you face, and what did you learn?

So, leadership again, eh? Yep. Once again in considering our overall application, we decided that leadership is the most difficult trait to draw out, and we want to encourage you to discuss it.

Sure, we can see your resume and your list of activities – possibly you were president of every single one, and we can safely assume you’re a leader. But more often, people choose one area to take on a significant leadership role and do it well – whether professionally or maybe in an activity outside of work – and you need some space to tell us about that. Maybe your title does not accurately convey the leadership responsibilities you managed on a particular project.

Why do we specify “recent and meaningful”? Well, you might be surprised how far back people dig to find examples. Here’s a good rule of thumb:

  • If the example is from your professional time horizon, great, solid choice.
  • If you think back to college, OK, that may work.
  • If you really want to use a pre-college example … that may not stand out for the reasons you hope.
What challenges did you face? Oh yes, we want to understand the challenges for your team. (You had a team, right? Because you were a leader, there must have been some other people involved.) The challenge is what tests you as a leader. Was it a lack of resources? A last-minute change of scope? Unclear goal? A mistake for which your team had to take accountability?

If you’ve led people, then I bet you’ve faced an obstacle that would make great essay material.

But most importantly – what did you learn?

How did this challenge and this experience change your perspective? A warning to people who write about marathons, triathlons, mountain climbing and mud races – what did you learn that you can bring to Kellogg? I already know mud racing is hard, that’s why I avoid it! Spend most of your response talking about what you learned from your leadership experience, and perhaps how you have applied it.

These lessons learned and your changing perspectives are going to be the foundation for your growth as a leader and team member at Kellogg.

As you are thinking about your application, take a look at Tidmarsh’s two series’ on “Tips for Applying” and “How Kellogg applicants are assessed.”

Beth Tidmarsh ’03 is the director of admissions for full-time MBA programs at Kellogg. As a vice president at Jones Lang LaSalle, she led and executed tenant representation and corporate solutions work for companies such as Xerox, KPMG and Huron Consulting Group. Prior to attending Kellogg, Beth spent six years in consulting for Accenture based out of Chicago and Sydney.

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How to answer Kellogg’s essay questions — Part 2 [#permalink]

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New post 16 Jul 2015, 08:00
FROM Kellogg MBA Blog: How to answer Kellogg’s essay questions — Part 2
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The 2015-16 Kellogg Full-Time MBA application features two distinct essay questions. In the second of a two-part series, Beth Tidmarsh, director of admissions for Kellogg’s Full-Time program, reveals how to write a stellar response.

Question 2: Pursuing an MBA is a catalyst for personal and professional growth. How have you grown in the past? How do you intend to grow at Kellogg?

View Beth’s tips for Question 1

This has to be one of the most straightforward questions you are going to see. It gives you a lot of latitude to talk about a subject you know well – yourself!

You are a bright, successful person, and that’s part of the reason you want to attend business school. You aren’t going to invest all the time, energy, and frankly money it takes to get through B-school to stay the same.

You want to change.

You want to grow.

You want to be brighter and more successful. Let’s hear about it.

First part, take some time to look back over your life – what do you think brought you to this point? What stretched you and made you who you are today? What might your unique background contribute to your Kellogg classmates?

Then let’s hear about your future. Why do you want to come to Kellogg? What gets you excited? Do you think you’ll be involved? How will you juggle the demands of preparing for class, making friends, taking risks, joining clubs, being social, oh – and finding a new job? Each applicant probably thinks about the importance of those categories differently. Help us understand your motivations for applying.

Just don’t get carried away telling us about Kellogg – tell us about YOU. We know Kellogg. What you have is an opportunity to convey more about you.

And that’s it. A portion reflecting back, some time explaining why you are interested in Kellogg and you’re done.

Isn’t this just the age old “Why Kellogg?” in a different form? Sort of, but with the added lens of how you hope to grow and develop while you’re here. So get writing! Take a step back, focus on the big themes and talk about your journey.

As you are thinking about your application, take a look at Tidmarsh’s two series’ on “Tips for Applying” and “How Kellogg applicants are assessed.”

Beth Tidmarsh ’03 is the director of admissions for full-time MBA programs at Kellogg. As a vice president at Jones Lang LaSalle, she led and executed tenant representation and corporate solutions work for companies such as Xerox, KPMG and Huron Consulting Group. Prior to attending Kellogg, Beth spent six years in consulting for Accenture based out of Chicago and Sydney.

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Learning with Legos [#permalink]

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New post 21 Jul 2015, 08:00
FROM Kellogg MBA Blog: Learning with Legos
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By Marita Fernandez and Terri Petmezas

Kellogg’s Leadership in Organizations course prepares students to solve problems and influence the actions of individuals, groups and organizations. Earlier this quarter, students in the class learned valuable lessons in leadership thanks to an unlikely source: Legos. Marita Fernandez and Terri Petmezas, both One-Year students in the class, wrote about the assignment and what they learned from the hands-on experience.

MARITA FERNANDEZ:

This course is part of the basic curriculum that will train us as students to develop our skills to inspire growth in organizations through our behaviors. One of the main goals of this course is to understand that a key capability of successful leaders is to forge and drive high performance teams.

TERRI:

The gist of the exercise is that in a team of five, you have to replicate a Lego figurine. Each team gets 20 minutes to plan their design, then the team to build it correctly the fastest wins.

There are a few catches, though:

  • Only one team member is allowed to look at LegoMan at a time.
  • You cannot bring any writing materials with you while you look at him.
  • You cannot touch him.
  • Each team has an enforcer to make sure that rules are followed (each team chose an enforcer from their group who would go to another team and be their third-party enforcer).
  • When completed, the enforcer delivers your LegoMan to the professor who simply says “Correct” or “Incorrect” with no additional help or directions. If yours was incorrect, you had to figure out what was wrong and how to fix it.
MARITA:

During the planning period, each team established its own goals and strategies to achieve the objective and split the work so every member had a specific role. I volunteered to be an enforcer. After that decision I thought that maybe I would not experience the fun and challenges involved with the project, but my role as an observer actually was a great place for some interesting learnings.

TERRI:

We put together our strategy, fully utilizing our 20 planning minutes. We saw some teams finish their 20 minutes and start building early, and I got nervous that we were behind. But then I remembered that the 20 minutes were irrelevant; all that mattered was who had the shortest time in production, from the second you started building after planning was over until LegoMan was completed correctly.

Once we got started, we quickly built our first version, feeling pretty confident in the results. So we sent our enforcer to the professor, but the verdict came back: Incorrect. One team member knew of a not-visible part that was built either “like this” or “like that,” but he wasn’t sure. So after hearing that the LegoMan we built “like this” was incorrect, he quickly grabbed our LegoMan and changed a few pieces around so that it was “like that.” We sent the enforcer up again, and we were done!

We looked around, and everyone else was still working frantically, even the team who started building before us. As the minutes wore on, we saw the other teams’ energy slowly wane.

MARITA:

Coordination and focus among team members was important during the whole activity to achieve effective results. As an observer of the winning group, I witnessed the concentration and commitment the team had during the process.

TERRI:

Afterward, we met back in the classroom and the results were in. Our team finished in 3 minutes 38 seconds. The next closest team finished in 5 minutes 43 seconds, and the last team in just under 20 minutes. We were feeling pretty proud of ourselves until Professor Nordgren told us the fastest team ever … 16 seconds! Sheer insanity. But our team was quite happy with our 3:38.

MARITA:

The activity was followed by a debriefing session in which highlights of the process and learnings were identified. Careful observation and detailed sketches of the model were fundamental for a successful planning process. However, what made the difference in the teams’ production timing was whether each team member knew how their portion of the work interconnected with the whole figure.

As in real life, the first important steps for effective teamwork involve sharing a common view of the ultimate goal (the sketching). To do that, you need to see that everyone’s responsibilities are interdependent with the other contributors. It is key to be aware of those interconnections and realize the impact of our tasks in the overall team’s results.

TERRI:

The exercise was more than just an excuse to play with Legos. It taught us how we work in a team under pressure, how we respond to critiques and that there is a benefit to taking creative approaches. It also showed that team projects can be fun.

Learn more aboutKellogg’s One-Year MBA program.

Marita Fernandez is a student in Kellogg’s One-Year MBA Program. Prior to Kellogg she worked in brand management in Mondelez International, a consumer product goods company. She is from Lima, Peru.

Terri Petmezas is a Chicago-area native and former UW Badger in Kellogg’s One-Year Program. She lives in Vernon Hills with her husband, 4-month old daughter, and 18-month old Rhodesian Ridgeback “puppy.” Prior to Kellogg, she worked at ZS Associates in Evanston doing Sales and Marketing consulting for Med Device companies, and is exploring a variety of post-graduate opportunities.

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A look at conflicting incentives | MBA Learnings [#permalink]

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New post 23 Jul 2015, 12:00
FROM Kellogg MBA Blog: A look at conflicting incentives | MBA Learnings
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Current student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts.

In my last post about the tension between debt, shareholders, management and taxes, I ended with a line that leads straight into today’s post – “But, if there’s one thing I’ve learned about markets, they’re rife with conflicts of interest.”

Let’s now take a look at the life of John Doe. John is an executive at a leading Fortune 500 company headquartered in the US. He gets paid $1 million in cash, $4 million in stock, and $20 million in various incentive related bonuses that are tied to “EPS,” or earnings per share.

Now, let’s think about the many decisions he needs to make as a CEO that impact other constituents:

– How much debt should the company take on?

– How much tax will the company pay? (vs. how much of income it will recognize in low tax jurisdictions?)

– Should we pay dividends or repurchase shares?

– Should I take riskier investment bets or less risky bets?

Every one of these has an implication on the company’s profitability. And a company’s profitability directly affects its share price. However, they do so in a different place.

Let’s take dividends vs. share repurchases. When John’s company has a $100 in extra cash, John and his colleagues can either choose to pay the money in dividends to shareholders or choose to buy back their own shares from shareholders. Technically, they are both ways of returning money to shareholders. However, dividends inevitably reduce the share price (a company’s share price reflects the value of future cash flows: less cash available = less share price) while share repurchases increase the share price (since there are lesser shares available for the same amount of cash).

While there are other impacts of making a dividends vs. repurchase decision, this difference alone highlights a conflict of incentives. John Doe and his executive team are compensated on EPS. EPS goes up when share price goes up. Now, it is great when that happens because of excellent management and/or smart investment bets. But financial re-engineering (e.g. taking on excess debt, avoiding taxes, and/or repurchasing shares vs. paying dividends) can also increase executive compensation significantly. John knows that he, at best, will get a few good years as the CEO of this firm before he inevitably gets fired. So, why not make the most of it and swing these decisions in his favor?

There’s been a lot of discussion in the news about executive compensation as such decisions frequently come under scrutiny. In some ways, these conflicts make the markets fascinating. In other ways, they can make us cynical about decisions made by companies. My take has been to examine decisions more carefully to really understand what is going on and to understand the incentives in place. More often than not, the behavior we reward is the behavior we get.

One final plug on executive compensation – there are huge implications on the importance of ethics in these conversations. There has probably been an uptick in these conversations post the Enron debacle. I don’t think these conversations happen nearly as often as they should.

Rohan Rajiv just completed his first year 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, Student Life Tagged: business, finance, management, MBA Learnings Image
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How one Kellogg student raised $2.6 million (and counting) on Kickstar [#permalink]

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New post 27 Jul 2015, 09:00
FROM Kellogg MBA Blog: How one Kellogg student raised $2.6 million (and counting) on Kickstarter
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By Marc Zarefsky

Hiral Sanghavi and his wife Yoganshi strolled through the San Francisco International Airport last December as they giddily awaited their flight to Cabo San Lucas, Mexico to celebrate their one-year wedding anniversary.

The young couple could not wait to spend a week together in paradise, but before they made it to the gate, Hiral realized he forgot something.

A pillow.

Now usually this would not be a big deal. He figured he would shell out $25, or however much the closest airport store was charging for a travel pillow, and be back on his way. The problem was this was not the first time he forgot one while flying. Or the second time. Or even the third.

Hiral had four airport-bought pillows comfortably resting in his apartment in Evanston, where he was pursuing his MBA at Kellogg, and five in Yoganshi’s San Francisco apartment.

His wife decided nine airport-bought pillows was enough.

“She told me I wasn’t allowed to buy any more, that I had accumulated enough,” Hiral said. “So I said, you are a professional designer, why don’t you come up with a solution to ensure that I don’t forget?”

The two kicked a few ideas around as they boarded the plane. Then, settled in their seats, Yoganshi had an epiphany.

What about a jacket with a pillow inside it?

The two thought the idea had potential, so Hiral frantically pulled a sheet of paper out of his wallet and borrowed a pen from the person sitting next to him. For the next four hours, he and Yoganshi listed all the problems they could think of that travelers face, and then sketched out a jacket that could solve those problems.

And with that, the BauBax jacket was born.

https://d2pq0u4uni88oo.cloudfront.net/projects/1895274/video-559261-h264_high.mp4

On July 7, with Hiral as CEO and Yoganshi as Chief Design Officer, the two launched a Kickstarter campaign to fund “The world’s best travel jacket with 15 features.” They solved Hiral’s pillow problem by including an inflatable pillow (that inflates in two seconds), but they did not stop there. Additional features include:

  • Eye mask
  • Portable charging pocket
  • Phone pocket
  • iPad pocket
  • Earphone holders
  • Zipper that serves as a pen and stylus
  • Drink pocket
  • Microfiber cloth
  • Sunglasses pocket
  • Gloves
  • Hand warming pockets
  • Passport pocket
  • Blanket pocket
CNN Money called it “The Swiss Army knife of travel wear.”

The jacket comes in four styles (sweatshirt, windbreaker, bomber and blazer), multiple colors and is available for men and women. On the Kickstarter site, it is described as “the jacket you’ve always needed but never existed.”

The campaign launched with a modest goal of $20,000 in backing.

That goal was met in five hours.

In one week, they had more than $500,000 in funding. In 10 days, they surpassed $1 million.

This past Friday, less than three weeks since launch, they passed $2 million.

As of Monday morning, they were at more than $2.6 million. And the campaign still has more than five weeks to go.

“We have been very overwhelmed and very humbled by all of the support,” Hiral said. “The entire team is very happy to see that the product has actually resonated with people all around the world.”

More than 15,000 people from 75 countries have backed the product on Kickstarter. The jacket — and the Kickstarter campaign — has been written about in dozens of publications, from Yahoo! and Mashable to Business Insider and Inc.

So what’s been the secret to all the success?

“The evolution of the jacket,” Hiral said, “the success of the campaign, the success of the video, all the success we’ve had is thanks to what I’ve learned at Kellogg.”

When Hiral returned to campus from his Mexico vacation in January, he was busy recruiting for his summer internship, but he was also focused on fine-tuning the idea he and Yoganshi sketched out.

He spoke with more than 30 classmates and several professors. He found out what their pain points were while traveling and asked if they thought those problems could be solved with a jacket.

Hearing and watching their reactions, Hiral knew he was on to something big.

Hiral spent January and February refining the idea. During that time, he kept coming back to a lesson he learned during his first quarter in Prof. Julie Hennessy’s Marketing Management course.

“It was in that course that I learned how important it is to have a niche product,” Hiral said. “If I had this idea before coming to Kellogg, I would have launched it as the coziest jacket made for everyone. My belief would be to make a product that everyone could use.

“But Prof. Hennessy taught us to always narrow down your segment. You should be very focused on your customers. You should really know who your customers are and make a world-class startup for them.”

With that in mind, Hiral focused on frequent travelers. As he and Yoganshi would discover, though, the jacket appealed to a much wider audience.

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The next two months were dedicated to prototyping the product. By May, Hiral was ready to focus on the marketing, which ranged from filming the promotional video to creating content for the product’s online presence.

Prof. Derek Rucker, who teaches advertising strategy at Kellogg, became a valuable resource as Hiral turned to him outside of the classroom for guidance on both the product and the communication message.

“When I saw Hiral’s product, I immediately saw the promise based on the product and his understanding of the target market,” Rucker said, “so then it became a matter of discussing how to represent the brand to the consumer. In terms of potential, it seems to fulfill an unmet consumer need, and that’s critical in impactful products and marketing.”

“Of course great ideas have to be executed well, and we can see the proof in the tremendous results he is seeing.”

One area where Hiral greatly benefited from Rucker’s expertise was in his planning for the Kickstarter campaign.

The BauBax jacket Kickstarter page is extensive, featuring far more than just the promotional video and a little text. There are infographics, photos, GIFs, sizing charts and more, all seeking to provide viewers with a complete look at everything the jacket has to offer.

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“What I love about Kickstarter is that you hear the consumers’ voice (about) your product directly,” Rucker said. “(To succeed), it takes the fundamentals of marketing. You have to identify a target, have an insight and position around that insight. Based on our personal meetings, Hiral has thought through these issues. BauBax jackets have all of this.”

So why the name BauBax?

Hiral said it was a no-brainer for the young couple.

“My wife’s nickname is Bau, and she calls me Baxhu,” he said. “This is our thing. It’s our baby. We have achieved this together, and with that name, it gives us a sense of ownership and responsibility.”

The jacket is the first of what Hiral and Yoganshi hope will be many products from their newly launched BauBax product design firm. The company’s goal is design and manufacture creative lifestyle products, and while Hiral said they plan on sticking to apparel for now, he could easily envision a line of home improvement products in the future.

As for the jacket, the original plan was to manufacture them in October, but with the increase in support and demand, the manufacturing process will begin right away. Backers have been told that jackets will be shipped in November in time for Thanksgiving and the holiday season.

“Hiral is an example of all that we aspire to at Kellogg,” said Prof. Andrew Razeghi, who taught Hiral’s Launching New Products and Services course. “Attract the best and brightest students from around the world, give them the knowledge and access they need to succeed, and support them in fulfilling their dreams.”

This is the fourth startup Hiral has launched in the past 11 years. The self-described serial entrepreneur said it’s the idea of living life on the edge that makes entrepreneurship so appealing to him.

“It’s a roller coaster ride, and I’m an adventure junkie,” Hiral said. “I need the adrenaline rush to keep me moving.”

The overwhelming support has given Hiral all the adrenaline he needs to keep moving forward with BauBax.

“I am feeling very humbled and thrilled,” Hiral said. “This response has encouraged me to be more courageous to work on innovative ideas and travel the uncharted path.”

Marc Zarefsky is a content strategist on Kellogg’s Marketing & Communications team. In that role, he manages all content related to the school’s Full-Time MBA program and MSMS program.

Filed under: Academics, Career, Student Life Tagged: Advertising, advertising strategy, BauBax, entrepreneurship, jacket, Kickstarter, Launching New Products and Services, marketing, Marketing Management Image
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ForumBlogs - GMAT Club’s latest feature blends timely Blog entries with forum discussions. Now GMAT Club Forums incorporate all relevant information from Student, Admissions blogs, Twitter, and other sources in one place. You no longer have to check and follow dozens of blogs, just subscribe to the relevant topics and forums on GMAT club or follow the posters and you will get email notifications when something new is posted. Add your blog to the list! and be featured to over 300,000 unique monthly visitors

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This post has been originally posted on the Admissions Blog and re-posted here for convenience.

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Re: Calling all Kellogg Applicants (2015 Intake) Class of 2017 ! [#permalink]

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New post 28 Jul 2015, 00:31
I was aspiring to pursue MBA degree in US, but now have to drop my plans due to financial and personal reasons.

I had enrolled with Stratus Prep( Check their website and GMATClub and BeatTheGmat forums for their reviews) for their 5 school comprehensive MBA consulting package(end-to-end) which also includes HBS consulting (for this they charge $250) extra. This package is for $ 7750.

As per my discussions with SP, they are ready to transfer my credit to another student. If you are aspiring to apply next year and are interested in engaging SPs consulting services, kindly PM me. I am planning to offer you my package with them at an attractive discount.

Also PM me for any other details you may need.

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Re: Calling all Kellogg Applicants (2015 Intake) Class of 2017 !   [#permalink] 28 Jul 2015, 00:31

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