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FROM Manchester MBA Blog: Welcome to Class 2015 |
Having reviewed all of their applications I do feel that I know many of Class 2015 already and indeed I have already met members of Class 2015 at selection events over the last 12 months. However, I am looking forward to meeting all of Class 2015 face to face tomorrow morning. As always we have made some changes to the curriculum this year. By popular demand Francis Chittenden and Malcolm Smith’s Negotiations classes have been moved to a separate course starting in January 2014. This will mean that all of Class 2015 will have the challenge of competing in the European Business Plan of the Year competition. Bruce Tether’s innovation classes are to become part of the UK Consultancy Project and Rudolf Sinkovics’ International Business classes will be delivered as part of the International Business Project. However, for the next 4 weeks Class 2015 will be engaged in the MBA Induction programme. The MBA Induction allows the class to get to know each other, the MBS MBA team and the great city that is Manchester. To encourage the class to explore the city it has become something of a tradition that I issue a challenge – The Director’s Challenge. So, I want to know who this is a statue of, what has made the individual depicted in the stature so ‘excited’ and where it resides. Hopefully someone from Class 2015 will email me with the answer within the next 36 hours. There will be a small prize for the winner who I will announce at the Drinks Reception at 5.30pm tomorrow evening. best wishes Professor Elaine Ferneley MBA Director |
FROM Manchester MBA Blog: European Private Equity Competition – So close |
The below post is an extract from my personal blog. Please visit www.mbamanchester.com for more insight on my MBA experience. _______________________________________________________________________ Second Place. Again. The Manchester MBA’s team have just returned from the Rotterdam School of Management’s European Private Equity Competition and, as seems to be the recurring theme in my MBA, finished second to the hosts by one judge’s vote at the final stage. Again, the feeling of “what might have been” is gnawing at my insides but is mollified somewhat by the knowledge that multiple finishes in the Champions League positions is at least a sign of consistent performance. Even the great Matt Busby had to finish second four times before winning his first league title at Manchester United. The RSM competition simulates the thought process of a Private Equity firm but in a fraction of the time that they have. On the Monday of the week we were given a brief detailing a company that the Private Equity house were considering. We then had 48 hours to rip through the numbers and strategy to decide whether the PE house should buy the company, what they should do with it, how much they should pay for it, who they could sell it onto and how much money they could make. This had to be distilled into a two page document and a short slide deck that was presented to the professional judges on the Saturday in Amsterdam. In Action during the Final Round The preparation process was certainly intense. An M&A in (almost) a day if you will. Our brief was for a deal in 2004 so we had to put ourselves in pre-financial crisis mode when banks were making crazy loans for leverage buyouts. The difficulty was keeping our heads in that year and not putting our knowledge of what happened during the crash into our solution. Finals day began with the teams being split into three groups and presenting in front of a small panel of judges. Following victory in our group stage we progressed to the final where all three teams were simultaneously grilled by the full eleven man jury. Our interrogation went well and we successfully batted away the probing questions that came our way. Off the back of this we were pretty hopeful going into the announcement but it didn’t quite go our way. Rotterdam had also made a solid case and the judges went for them by a majority of one. Still, we could take consolation in finishing as the top UK team in the competition and the beers in central Amsterdam that evening dulled a little of the disappointment. It’s unlikely that I’ll participate any more competitions during the remainder of my MBA but, following the multiple second places (with our victory in SVCIC being the honourable exception) you can be sure that I’d rather crash and burn spectacularly in the preliminary rounds than miss out by a whisker again. |
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