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UNC Kenan-Flagler MBA Admissions and Related blogs

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The beauty of art  [#permalink]

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New post 06 Apr 2018, 22:00
FROM Kenan- Flagler Admissions Blog: The beauty of art
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Emerson and Cheryl Dickey bring the gift of art into daily life at UNC Kenan-Flagler.

Emerson Dickey (BSBA ’67) and his wife, Cheryl Dickey, never thought of themselves as art collectors until they visited a gallery in Maui while on vacation.

“We saw paintings that leaped out to us. We thought we would buy one, but before the night was over we bought four,” says Dickey. “What we learned was that the beauty of the art enhanced our living spaces in ways we hadn’t imagined – and the process began.”

Years later, UNC Kenan-Flagler is now fortunate to receive part of the Dickeys’ collection – featuring work by painters Yankel Ginzburg and Andrea Razzauti – as an in-kind gift to the School.

“As we started to downsize, we wanted others to have the opportunity to enjoy the beauty we have experienced for almost 20 years,” says Dickey. “UNC has been a big part of the foundation of my career and life. It was a natural move to contact the Business School to see if there was any interest, and indeed our timing was good. I hope that the art will bring pleasure, serenity and inspiration to staff, faculty and students alike.”

Now retired, Dickey had a successful career culminating in his role as a managing partner at Accenture LLP, and he attributes much of that success to his years at the Business School.

“As with many things in life, serendipity played a huge role in my connection to UNC. I almost went to that school in Raleigh but was granted a small scholarship ​that swayed my decision. Much of the rest of my life hinged on that scholarship – marriage, children, grandchildren and so much more. So it was only natural to want to give back to UNC Kenan-Flagler. Knowing that a piece of our life will be there for many years to come is very satisfying.”

“This art from Emerson and Cheryl not only beautifies our halls for current and prospective students, faculty, staff and guests, it also supports the University’s Arts Everywhere initiative to embed the arts into daily life and promote its power as a universal language to spark creativity,” says Dean Doug Shackelford (BSBA ’80), dean and Meade H. Willis Distinguished Professor of Taxation at UNC Kenan-Flagler.

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Summer Remembered by Lau Chun

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Barefoot in the Park with Pamela by Yankel Ginzburg

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Marina by Andrea Razzouti

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At It Again by Jim Daly

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Arrived by Yankel Ginzburg

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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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Benefiting from UNC Business Essentials’ online format  [#permalink]

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New post 25 Apr 2018, 12:00
FROM Kenan- Flagler Admissions Blog: Benefiting from UNC Business Essentials’ online format
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Before starting the UNC Business Essentials program (UBE), I was slightly apprehensive about the effectiveness of online instruction. In high school, I took an online U.S. history course and struggled to find motivation to get the work done. Perhaps it was because I never met with my instructor and I didn’t find the tasks engaging. I did well, but felt like I had to use all my energy to concentrate on the tasks and absorb the material.

I’m definitely a hands-on learner. I like to get involved in the task at hand, figuring out which parts of the process come easily and which I don’t quite understand. I enjoy forming relationships with my instructors and working through examples to put specific skills in context.

To my surprise, the online UBE certificate is offered in a straightforward and engaging format. The content easy to follow and the assignments very applicable to the material I learned.

The tutors were always readily available to assist us. While the interaction between students and the tutors was virtual, they replied to comments and questions within 24 hours, at most, which helped with my overall understanding of the course. It felt like I had a support system throughout the entire program.

And while I participated in the program, I also was interning multiple days throughout the week, traveling and working. The online format ended up being perfect for me because of its flexibility.

UNC Business Essentials proved itself as an effective online learning experience, incorporating interactive lessons, responsive tutors and allowing students to be flexible while completing the program. In no way did it hinder my ability to absorb the material. I’m glad I gave it a try despite my hesitations.

By Isabella Courtenay-Morris (BA ’19)

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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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Studying on campus, then online to become a double Tar Heel  [#permalink]

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New post 27 Apr 2018, 16:00
FROM Kenan- Flagler Admissions Blog: Studying on campus, then online to become a double Tar Heel
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When Tiffanie Johnson (BA ’04, MBA@UNC ’18) decided to pursue her MBA, she sought out a program flexible enough to accommodate her desire to continue working at The Washington Post and her busy schedule as the mother of a young child. Her search for the right school led her back to her alma mater.

Johnson graduated from the UNC School of Media and Journalism in 2004 and went on to work for media companies, including National Geographic and The Washington Post.

After she started her MBA@UNC studies, Johnson completely restructured her Washington Post client services team, which handles digital advertising, based on what she has learned in the program. She then went on to accept a new position as director of branded content product and operations for the GET Creative studio, part of USA Today Network.

During her time at The Washington Post, Johnson’s passion for “using technology to drive innovation” sent her to the forefront of the digital media wave and inspired her to spearhead the marketing launch of The Post’s RED team, a group dedicated to ad research, experimentation and development. As her career path made way into the business side of journalism, Johnson knew she needed to return to school to get the foundation she needed to move her career forward.

And what better place, Johnson thought, to earn her MBA than UNC through the online MBA@UNC program? It allows students to get “a world class education and the flexibility to meet the needs of a demanding life,” says Johnson.\

“It was a business decision, but it was so personal to me at the same time,” she says.

Johnson met her husband as an undergrad at UNC, just two weeks after the start of her freshman year. They were married at the famous Carolina Inn in Chapel Hill and named their son Dean, which is also the name of beloved Carolina basketball coach Dean Smith.

The flexibility of the program has made a world of difference in allowing Johnson to juggle a demanding career, rigorous studies and young family. She can participate in live classes from wherever she might be – earning her MBA from top-ranked program without interrupting her career or disrupting her family by moving.

Her decision to pursue an MBA just two years after the birth of her son might surprise some, but Johnson says motherhood was the very thing that pushed her into it. “Once I became a mother, I was empowered to feel like I could do anything,” she says.

Johnson appreciates the strong connection she makes with classmates and professors. “There’s a certain perception about online courses,” Johnson said, “but with MBA@UNC you’re forced to be really engaged — you’re right there. There’s no hiding in the back of the class.”

Johnson credits her background working in digital for helping her to adapt quickly and adjust to the out-of-class experience.

She has taken advantage of the quarterly face-to-face immersions in the U.S. and around the world. After attending an immersion in Argentina in 2016 and another in Johannesburg in 2017, Johnson finally made it back to Chapel Hill for the December 2017 immersion.

“You get to network with people all over the world,” she says. “When you see your classmates in person, it’s like seeing your long lost cousins.”

Johnson has already linked what she’s learned in the program with her professional life. “I was able to take something from my leadership class and apply it the next day at work,” she says.

The program also has benefited her career. She says it helped facilitate her transition from The Washington Post into her new role at USA Today Network.

“MBA@UNC helped give me a strong business foundation and equipped me with the tools I need to relentlessly pursue better ways to manage businesses and take risks,” says Johnson. “Of course, MBA@UNC taught me how to manage those risks.”

By Madeline Stefan (BA ’18)

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All in the family  [#permalink]

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New post 02 May 2018, 11:00
FROM Kenan- Flagler Admissions Blog: All in the family
ImageFamily business courses were a highlight of the Carolina experience for Frankie Kelly (BSBA ’14, MAC ’15). The Family Enterprise Center classes were his portal to a more informed perspective about his family business and offered “definitions to things that we’d been experiencing,” he says.

He was eager to share these new insights with his dad and granddad, and they were both grateful and receptive. His dad, Frank III, was so intrigued that he decided to come to Chapel Hill to experience a family business class firsthand.

“This is great,” Frank III said after class. “I loved having lunch with students. I loved talking about family business. You guys should do more to let the parents visit and participate.”

The Kelly family has done just that. “I often say that the Kelly family is our poster family for how to get involved and engaged with the Family Enterprise Center,” says Cooper Biersach (JD/MBA ’96), Family Enterprise Center’s co-founder and director.

ImageRead more about Frankie Kelly’s experience with the Family Enterprise Center and his family’s business, KELLY.

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Clean Tech Summit and driverless cars  [#permalink]

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New post 04 May 2018, 13:00
FROM Kenan- Flagler Admissions Blog: Clean Tech Summit and driverless cars
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“New Paradigms in Intelligent Transportation” was a fascinating panel at the 2018 UNC Clean Tech Summit. It explored the potential impact of transitioning to driverless cars.

The panel included speakers from both the public and private sector. As an undergraduate preparing to enter the workforce and working in global operations, the intersection of technology and social impact is extremely important to me. This panel presented me with the chance to explore the societal benefits resulting from this technology and its potential challenges to widespread implementation.

“The benefits of autonomous cars will be far-reaching,” said Jeffrey Barghout, CEO of Robocist, Inc. More than 1,400 people die on North Carolina highways annually. Driverless cars could reduce the number of those fatalities – improving safety by eliminating human error. Not only does overall safety increase, but insurance premiums are likely to decrease with fewer chances of accidents occurring.

Barghout also posed this question: “What if you don’t have to go to the grocery store? A world where your car can act as a service instead of simply a vehicle that gets you from point A to point B.” This functionality will have immense effects on the mobility of seniors and individuals with accessibility issues. Barghout’s future also includes highways where several lanes are dedicated to autonomous automobiles. He believes that autonomous vehicles will encourage the dispersion of individuals, allowing more individuals to live farther away as commute times will have decreased.

Even with its many advantages, some critics doubt the feasibility of driverless cars in the short-term. The first area of skepticism is regulation. Right now policies and laws are trailing the technological advancements.

Before driverless cars can become a reality on the road, open communication between private companies and the government needs to exist. Partnerships between the two must be established before creating any sort of infrastructure that helps with control, liability issues and implementation of autonomous.

Issues of liability and ownership are at the forefront of the conversation. Driverless cars blur the lines of responsibility because perhaps they will no longer be owned by drivers but shared or leased. Who will be liable if accidents do occur? Drivers? Auto-manufacturers? Entire car companies or just engineers who performed testing? There are many questions left unanswered, but I am confident that we will soon find their answers.

Regardless of your stance on the driverless car debate, similar emerging technologies are here to stay. To be competitive in the job market, students need to be aware of new technologies even if they are not be working with them directly. Companies are searching for well-rounded students who can understand the implications of new technologies and can navigate the growing changes.

By Irina Trenkova (BSBA ‘18)

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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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Understanding the U.S. Securities Exchange Commission  [#permalink]

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New post 07 May 2018, 11:00
FROM Kenan- Flagler Admissions Blog: Understanding the U.S. Securities Exchange Commission
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On Wednesday, January 31, the Frank Hawkins Kenan Institute of Private Enterprise welcomed Michael S. Piwowar, Commissioner of the U.S. Securities and Exchange Commission (SEC), as part of the Dean’s Speaker Series.

Piwowar highlighted the primary functions of federal market regulators, including the SEC, the Commodity Futures Trading Commission (CFTC) and banking regulators such as the Federal Reserve, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).

“Our mission is to protect investors, maintain fair, orderly and efficient markets, and facilitate capital formation,” said Piwowar, adding that many people don’t realize that “part of our mission is to promote and facilitate access to capital by issuers in the securities markets.”

 What does it mean to regulate the securities markets?
Any firm that wants to offer or sell its securities to the public has to register with the SEC. Registration occurs when the firm issues an initial public offering (IPO).

This registration allows public access to the company’s reports and statements, including earnings reports, annual reports and proxy statements.

“Unlike some securities regulators throughout the world, we are not a merit-based regulator; we are a disclosure regulator. We don’t make a judgment in terms of whether this is a good company or a bad company,” said Piwowar. “But we have very strict disclosure requirements.”

The SEC regulates not only public companies, but also investment companies, such as mutual funds and exchange-traded funds. These companies pool money collected from multiple investors and invest in a diverse asset portfolio.

The SEC also regulates investment banks that underwrite IPOs, personal investment advisors, brokers, exchanges and alternative trading systems.

 A past of regulation
The SEC was created in 1934 as a part of the New Deal legislation adopted after the stock market crash and the Great Depression. Since then, Congress has continued to refine the SEC’s authority, often in response to an economic crisis or event.

For example, after the financial crisis of 2008, the Obama administration passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. The act established new agencies to oversee aspects of the banking system and tightened regulation.

According to Piwowar, in recent years, the SEC has been kept busy trying to implement Dodd-Frank mandates, leaving it little time to focus on updating outdated legacy regulations.

“With the changeover in the administration, there’s now the opportunity to go back and revisit some of those things that we hadn’t been able to do and modernize some of our regulations,” said Piwowar.

Present challenges
According to Piwowar, some of the biggest issues facing the securities markets are that fewer companies are going public, companies are staying private longer and fewer foreign companies are listing in the U.S.

“It used to be that we were the listing venue of choice throughout the world and we had the most competitive, most liquid and deep capital markets,” he said. “If you were a foreign company and wanted access to capital in the U.S., and you wanted to show the rest of the world that you were going to bind yourself to high-quality accounting, high-quality regulation and high-quality legal institutions, you would want to list in the U.S.”

While the benefits of listing in the U.S. remain the same, the associated costs have gone up.

 A future of investment opportunities
As the SEC’s implementation of Dodd-Frank comes to a close, the organization’s focus is shifting.

“The two new words we’re looking at are capital formation,” said Piwowar. “That third part of our mission had been missing for six and a half years, and now we’re focused back on that. What can we do at the regulatory level to make our capital markets more competitive again vis-à-vis the rest of the world, and vis-à-vis the private securities markets?”

 The SEC is working to get more companies to tap the public capital markets. In doing so, it wants to give average investors access to more investment opportunities.

“We are actively looking at the things we can do in the regulatory environment to try to encourage those companies to go public,” said Piwowar.

He added that, with the diminished need to implement mandates, the SEC is now able to shift its attention to its role in supporting the health of U.S. markets – providing access to capital and creating more investment opportunities to investors.

By Addison Lalier (BA ’18)

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Launching entrepreneurs in Chapel Hill  [#permalink]

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New post 07 May 2018, 11:00
FROM Kenan- Flagler Admissions Blog: Launching entrepreneurs in Chapel Hill
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Alumni learned about the impact that the entrepreneurial initiatives created at Launch Chapel Hill have on the community at Alumni Weekend 2018.

Dina Rousset, Launch Chapel Hill’s program manager and associate director for UNC Kenan-Flagler’s Center for Entrepreneurial Studies, shared their stories in an alumni session entitled “Pints and Pitches.” Also showcased was 1789 Venture Lab, which provides spaces for entrepreneurs to work and access to entrepreneurs who can be mentors.

“Since Launch opened five years ago, we have worked with 75 companies, 46 of which are still in operation.  Those companies generated more than $20 million in sales in and supported 1150 jobs in 2017,” Rousset says. “Launch Chapel Hill really gives students the opportunity to learn as much from the people next to them as from the people in front of them.”

But what exactly is an entrepreneur?

“Someone who builds or funds something,” says Rousset, who turned over the mic to students and a professor to describe their experiences.

Keeping it real
As MBA students working at Launch Chapel Hill, Mary Margaret Milley (MBA ’19) and Rachel Paolino (MBA ’19) created Viyb, an online platform that pairs people with mental illness with effective therapists. The company reflects their personal experiences.

“We get it,” they say. “We were once the customers we now seek to help.”

Viyb operates in the B2C sector of North Carolina, and might expand it to B2B.

The importance of always growing
Taylor Meyer (BS ’13, MBA’18) co-founded UConnection, a mobile application that helps college students get discounts at local restaurants. He created the application while at 1789 Venture Lab and then transferred the company to Launch Chapel Hill before selling it to a private equity firm.

Now he is working on his second business, Hyperspace Ventures, which helps other startups expand their marketing capabilities, especially in the digital media realm.

Although Meyer’s companies differ, they have one thing in common: they were started by a well-prepared UNC Kenan-Flagler student whose entrepreneurial training at 1789 Venture Lab and Launch Chapel Hill allows him to continue growing as an entrepreneur.

Long-term aspirations
Dylan Goodman (BA ’18) developed ChartMyMatch, which uses the most recent AI software to help tennis players record their match statistics.

Goodman knew in high school that creating such a company was his end goal – he simply needed hands-on learning experiences to help him get the job done. By partnering with Launch Chapel Hill, Goodman made his long-term dream a reality.

The support structure
Professor Randy Myer introduced the work of the Carolina Angel Network, which equips UNC alumni to support startups created at UNC. Without monetary backing, startups will fail, so Carolina Angel Network partners alumni with current entrepreneurial efforts to allow students to create businesses with less concern over financial necessities.

“The standard for what defines a job is changing,” concludes Rousset. “Whether you work for a company or start your own venture, you need to be entrepreneurial – creating and building better ways of doing things.”

Because associates of Launch Chapel Hill and 1789 Venture Lab have the equipment and space needed to develop companies, they help create startups that serve the needs of their communities.

By Grace Ketron (BA ’19)

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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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In memoriam: Richard H. Jenrette  [#permalink]

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New post 08 May 2018, 05:00
FROM Kenan- Flagler Admissions Blog: In memoriam: Richard H. Jenrette
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North Carolina native Richard Hampton Jenrette (ABJO ‘51) died on April 22, 2018, after a battle with lymphoma.

Born in Raleigh in 1929, he graduated from UNC-Chapel Hill, where he received his bachelor’s degree in journalism. He was editor of The Daily Tar Heel and a member of Phi Beta Kappa and the Order of the Golden Fleece.

After college, Jenrette joined the U.S. Army as part of the Intelligence Corps and served during the Korean War. After the war, he returned to Raleigh where he briefly became a life insurance agent before he earned his MBA at Harvard Business School in 1957.

He worked for the brokerage firm Brown Brothers and Harriman until 1959, when he co-founded Donaldson, Lufkin and Jenrette, an investment banking firm that prospered under his leadership. Equitable Life Assurance Society acquired the firm in 1981. Jenrette became chief executive officer of the Equitable and is credited with saving the company from impending financial collapse. He retired from the firm in 1996 to wide acclaim for his role as a statesman of business.

Outside the realm of business, two of Jenrette’s chief interests were UNC-Chapel Hill and historic preservation.

At UNC Kenan-Flagler, he generously established the Richard H. Jenrette Fellowship Awards in 1986, one of the most prestigious awards presented by the full-time MBA Program, recognizing students of outstanding leadership, academic performance and potential for successful careers in business.

He also created the Richard H. Jenrette Business Education Fund to provide support for teaching and research activities at UNC Kenan-Flagler. He was one of many donors who joined together to create The Macon G. Patton Distinguished Professorship, which is held today by finance professor Paolo Fulghieri.

UNC awarded him an honorary Doctor of Laws degree in 1998. Jenrette also served on the University’s Board of Trustees and was largely responsible for the renovation and restoration of Old East and Old West as part of the Bicentennial observation.

He restored over 13 homes during his 50-year history of preservation, including Ayr Mount in Hillsborough, North Carolina; Edgewater at Barrytown, New York.; Roper House in Charleston, South Carolina; and Millford Plantation near Sumter, South Carolina.

His collection of homes is considered one of the finest collections of classical architecture in this country. He created Classical American Homes Preservation Trust and the Richard H. Jenrette Foundation to preserve his seven properties, collections and surrounding landscapes for the future.

Read more about Jenrette in The New York Times and The News & Observer.

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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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Contributing to the community through Business Cares  [#permalink]

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New post 10 May 2018, 10:00
FROM Kenan- Flagler Admissions Blog: Contributing to the community through Business Cares
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Community is one of UNC Kenan-Flagler’s core values, and Business Cares is an important way the School lives that value.

Business Cares, the School’s signature philanthropy initiative, harnesses the talents and resources at UNC Kenan-Flagler to provide support for three local charities focused on children’s health: UNC Children’s Hospital pediatric cancer unit, Ronald McDonald House of Chapel Hill and Super Cooper’s Little Red Wagon Foundation

This relationship provides a foundation for the charities to work not only with Business Cares, but also with each other.

“The charities are able to do better things for the kids because of what we’re doing,” said Tom Cawley, director of advancement services. “With the help of this initiative these charities were able to deepen their interactions because Business Cares brought them together more frequently.”

The success of Business Cares comes from its three-tiered approach. It uses the “brain power” and the “people power” of students, faculty and staff, and the “money power,” meaning the financial support from the School and corporate sponsors. Together, these three core methods have supported the charities through financial support, consulting expertise, the College Buddies program, providing welcome bags for patients, and more. Another way the Business Cares program uses its three-tiered approach is hosting the annual Business Cares Golf Classic, set for May 4, 2018,To date, Business Cares has raised more than $81,000, and presented $10,000 to each charity in 2018.

“We celebrate any money raised as success,” says Cawley. “There’s no minimum. We fundraise, we help them and whatever we achieve is great – that’s part of the feeling of what we do at Business Cares. All three charities have limited bandwidth and they’re hungry for help. We’re grateful we’re able to provide it.”

UNC Children’s Hospital
The Business Cares program works with the pediatric cancer ward at the UNC Children’s Hospital. The hospital used the funds to provide up-to-date educational materials and send nurses to conferences to stay up-to-date on their practices. Business Cares donated six iPads to the unit to entertain children while undergoing treatments. The financial piece is crucially vital due to diminishing lack of state support and keeping the nurses up-to-date to provide the best care for the children.

In the past four years, the Business Cares has used its people power to pack over 550 welcome bags –  including essential hygiene items and notes of encouragement – for new patients.

Super Cooper’s Little Red Wagon Foundation
Alex Pritts (MBA ’17) launched Super Cooper’s College Buddies in 2015, which provides a unique opportunity to connect children and UNC Kenan-Flagler students, who provide meaningful moments of encouragement and cheer. This form of people power includes hosting five holiday craft events, five dinners at the Ronald McDonald, donating 230 books and raising more than $1,300.

Business Cares puts use to its mind power to help Super Cooper’s Little Red Wagon Foundation through the MBA non-profit consulting program. The MBA non-profit consulting program pairs full-time UNC Kenan-Flagler MBA students with non-profit organizations to give students board experiences and business challenges. A team of from the MBA non-profit consulting program was paired with the foundation to connect their expertise with the needs of the foundation.

Ronald McDonald House of Chapel Hill
The brain power tier of Business Care is most noteworthy in the successes at the Ronald McDonald House of Chapel Hill. Through UNC Kenan-Flagler’s STAR Program, a student team consulted for the organization, conducting extensive research and crafting key recommendations for improvement.

At the end of their pro bono consulting practice, the STAR team announced three recommendations: increase the recommended paid amount per day; implement a Medicaid billing program; and create crowdsourcing accounts to boost fundraising efforts. After implementing the recommendations, the Ronald McDonald House increased its revenue 68 percent.

“I found it exciting to see this kind of dramatic change to an organization based on one semester-long consulting project,” said Meghan Gosk, a STAR faculty advisor and  associate director for MBA Career & Leadership at UNC Kenan-Flagler.

In all, the STAR project represents the mission and values of Business Cares. It used the people power and the brain power the School has to offer and drove direct success results to the Ronald McDonald House of Chapel Hill.

“What we did with Ronald McDonald House perfectly aligned with the goals of Business Cares,” Gosk said. “In this consulting project students used their business skills to research and make actionable recommendations to enable Ronald McDonald House to serve more families in need. We helped them accomplish their important mission of providing housing, meals and community, and there’s no better feeling than that.”

By Halle Frain (BA ’18)

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Hurdling toward success  [#permalink]

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New post 10 May 2018, 10:00
FROM Kenan- Flagler Admissions Blog: Hurdling toward success
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First in the nation. Fifth in the world.

These are two titles that Kenny Selmon (BSBA ’18) currently owns in the men’s 400 meters hurdles.

But what’s more important to him is another pair of titles: student-athlete.

Selmon has managed the challenges of balancing excellence in his studies and his sport – learning he had to dedicate long hours in both arenas to see results in the long run.

“Delayed gratitude” is what he calls it, and he realized it on April 14, 2018, when he ran the 400-meter  hurdles men’s race in 49.00 seconds – fast enough to place him at standings of first in the U.S. and fifth in the world overall.

Track was just one part of his focus at Carolina. Like many first-year students, Selmon came to Carolina undecided about his academic path. He credits his upbringing – he was surrounded by his parents and friends’ parents who were entrepreneurs – as the motivating push to apply to UNC Kenan-Flagler.

“I understood that getting into Kenan-Flagler could propel me to the kind of status I saw growing up,” says Selmon. “It made it very easy to understand that what I needed to do was invest in Kenan-Flagler.”

Selmon feels confident about his business abilities thanks to his outstanding education at UNC Kenan-Flagler. “It’s been amazing how much I’ve retained and how much has been instilled into my thinking,” he said.

Selmon took full advantage of the career support at UNC Kenan-Flagler. He worked as a commercial leadership intern at the Coca-Cola Company in Atlanta in the summer of 2017. The internship database, listservs and email notifications from the School helped with the internship process. He also credits the prestige of the School for helping him in his process.

“When it comes to applying to the internship and getting the interview, the name takes you a long way,” Selmon says. “Kenan-Flagler puts you head and shoulders ahead of a lot of people.”

His commitment to his studies and his sport academic earned numerous honors: ACC All-Academic, Academic All-American, ACC All-Academic Team and ACC Honor Roll.

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But Selmon’s time at Carolina wasn’t all top finishes. He faced challenges and lulls in his confidence.

“Being in an environment so prestigious, with so many smart people, is very intimidating when you are a student-athlete,” says Selmon. “The challenge was making sure that I don’t feel threatened, or don’t let the intimidation factor of the people that are really smart steer me away from all the same goals that they would get to.”

At the beginning of his time at Carolina, Selmon’s confidence was low. He attributes UNC Kenan-Flagler as the driving factor that changed his mindset and led him to academic and athletic successes.

“Getting accepted into the Business School restored an academic confidence in me that I would not have been able to restore any other way. It goes a long way and it shines very bright within my sport,”  Selmon says. “I’m able to carry myself within my sport as a business man instead of just an athlete. And that type of confidence allows me to understand that there’s more to life than just athletics, while I can still be very good in the sport.”

Competing in athletics helped Selmon turn roadblocks into opportunities. He learned from them and has formed relationships with his classmates and his professors.

He calls his professors extraordinary. “All of them really are very aware of our lives outside of the classroom and they all have been very intentional when it comes to reaching out,” he says. “And just that alone has taught me a lot about relationships and how you have to maintain them and the benefits of that.”

Through all of his courses and connections, Selmon credits UNC Kenan-Flagler to providing him with crucial knowledge he needs to make him a better athlete and propel his track career.

The School’s focus on leadership and innovation “helped me when it comes to leading my team,” says Selmon, “and I’ve been able to take a lot of the things I’ve learned at the Business School and translate them onto the track and in my team.”

In terms of his professional track career, the field requires more personal branding and marketing than other sports that are highly covered by the media, he says. He feels prepared to market himself, run operations and negotiate with agents.

“When it comes to everything that I need to be the best professional athlete that I can, from a business standpoint, the Business School is the reason I will be able to do that successfully,” Selmon says.

While it’s safe to say UNC Kenan-Flagler left a mark on Selmon, he also seeks to leave a legacy at Carolina.

He worked hard to perform at the highest levels, and he hopes to inspire others. “I would like to be the face of a student-athlete within a prestigious academic life who also managed an elite athletic career,” says Selmon.

By Halle Frain (BA ’18)



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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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Climate change as a business issue  [#permalink]

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New post 14 May 2018, 06:00
FROM Kenan- Flagler Admissions Blog: Climate change as a business issue
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As a dual master’s of environmental management student and an MBA, I felt a bit of culture shock entering the Business School after completing my first year of graduate school at Duke’s Nicholas School of the Environment. I was surprised that a lot of my UNC Kenan-Flagler classmates did not understand how climate change would affect their future careers. My dual-degree colleagues at Fuqua felt the same way. While both schools have robust energy programs and UNC has fantastic sustainability electives, I found students who were passionate about sustainability opted into these classes, but the topics were not an area of focus within the core MBA curriculum.

When it came time to decide on a topic for my year-long master’s project  my four UNC Kenan-Flagler/Fuqua classmates and I decided to tackle two questions:

  • Do companies understand how climate change may affect their business?
  • Do students understand how climate change may affect their future careers and future industries?
Our research goal was to explore opportunities for business schools to better prepare students for their careers by incorporating climate change and environmental considerations into the mainstream curriculum.

Our company research – based on 10-K analysis and interviews with business leaders in health care, finance, technology, energy, transportation, infrastructure and retail – indicates companies are increasingly aware of environmental risks and how climate change will affect their ability to protect and create value. Our student research, based on a survey administered to both UNC Kenan-Flagler and Fuqua students, indicates that students do not feel prepared to address climate-related risks as professionals. Further, the majority feel that climate change risks will not significantly affect them as business leaders. We found these results to be confounding in light of the global consensus that climate change is likely to have profound impacts on industry over the next 40 years, which coincidentally, is the span of current business students’ careers.

Our conclusion: There is a gap between what current businesses need in future leaders and the ability of next generation business leaders (current MBA students) to meet this need.

But something interesting happens when you prime MBA students with climate-related information. When students learned – through our survey that the Task Force for Climate-Related Disclosures commissioned by the Financial Stability Board encourages companies to voluntarily disclose climate-related risks, they placed a greater importance on mitigating these risks.  Our findings support the idea that students gain a deeper appreciation for how climate change affects their industries when empowered with information.

What I hope our research demonstrates is that climate change education should be a part of the mainstream MBA curriculum. There is a gap between what businesses need and what  students are learning. To prepare students, MBA courses  should prompt students to explore how climate change is a source of both risk and opportunity in global business over the next several decades.

In business school, we are taught about the time value of money and how investment now can pay off in the future. In fact, many core business principles are very much aligned with how individuals and corporations should mitigate the risks and monetize the opportunities climate change will inevitably bring over the next few decades and beyond.  After completing this research project, my hope is that that business schools take advantage of the opportunity to incorporate climate-oriented material into mainstream curriculum.

By Devon Bonney (MBA /Duke MEM ’18)

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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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Managing conflict  [#permalink]

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New post 14 May 2018, 06:00
FROM Kenan- Flagler Admissions Blog: Managing conflict
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A distinguishing feature of our Leadership Development program is the diverse community of experienced coaches who make up the UNC Kenan-Flagler Coaches Forum. Officially created in 2016 to provide a consistently high standard of coaching for our MBA students, it also encourages innovation in our Leadership Program.

 These insights are from professional coach Katherine Gilliland, one of 45 coaches who bring their unique expertise together to create best-in-class thought leadership on MBA coaching at UNC Kenan-Flagler.

 One topic that has come up a lot in my coaching conversations with business students is conflict management. My first reaction is to ask questions about the context. When do you feel stressed out about interactions with others? Is it usually a specific situation or topic? Is there a pattern?

Then I move to questions about their experience. Imagine the last conflict situation you were I – what did you do? What happened? How did you feel? What might you do differently if you had the opportunity?

Finally, I move into questions about the possibilities. If you had no angst about conflict, what would you do in conflict situations? How does that make you feel? What do you think the outcome might be?

Many times what gets in the way of feeling comfortable about conflict is your mindset – that conflict is “bad” and a sign of a strained relationship. In reality, conflict is necessary because we each have our own ideas, and conflict is the clashing of ideas.

It’s how we handle conflict that matters. If we can share our ideas without disparaging another’s – if we can hold each other in positive regard – then we have healthy conflict.

A coaching technique I use at this stage is persona play. I ask my client to think of a person or character (from personal life, public life or fiction) who embodies the conflict style they would like to emulate. Then I ask them to don that persona – “put on the coat” of the character, if you will – when they find themselves in a conflict situation.

One client named her current persona “Meek Millie” and her desired persona “Fierce Frances.” She described Fierce Frances to me – what she looked like and how she behaved – and what it would feel like if she were Fierce Frances in the middle of a conflict situation. She sounded calm, confident and level-headed – and my client pictured herself in that role.

Sometimes, clients want more direction in handling conflict. In that case, I shift more into a performance coach role, giving direction more than asking introspective questions.

As part of the Coaches Forum at UNC Kenan-Flagler, a group of coaches pooled our collective knowledge on coaching topics into an online Coaches Resource Guide by topic. Some of our key points on managing conflict include:

  • If the conflict is a communication breakdown, work on reflective listening to find common ground. Discuss not only the situation, but also your individual perspectives about the situation.
  • Try to get underneath the position to get to the underlying interest.
  • Use resources such as UNC Kenan-Flagler’s “SBIA” (Situation, Behavior, Impact, Action) Feedback model and the book “Crucial Conversations, among others.
In short, coaching around conflict usually involves exploring self-limiting beliefs AND finding resources that help pave a path to healthy conflict. It’s a skill that can really serve us well once we become comfortable with it. To quote author Patrick Lencioni, “Conflict is always the right thing to do when it matters.”

By Katherine Gilliland, Executive Coach at UNC Kenan-Flagler

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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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Climate change as a business issue  [#permalink]

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New post 14 May 2018, 12:00
FROM Kenan- Flagler Admissions Blog: Climate change as a business issue
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As a dual master’s of environmental management student and an MBA, I felt a bit of culture shock entering the Business School after completing my first year of graduate school at Duke’s Nicholas School of the Environment. I was surprised that a lot of my UNC Kenan-Flagler classmates did not understand how climate change would affect their future careers. My dual-degree colleagues at Fuqua felt the same way. While both schools have robust energy programs and UNC has fantastic sustainability electives, I found students who were passionate about sustainability opted into these classes, but the topics were not an area of focus within the core MBA curriculum.

When it came time to decide on a topic for my year-long master’s project  my four UNC Kenan-Flagler/Fuqua classmates and I decided to tackle two questions:

  • Do companies understand how climate change may affect their business?
  • Do students understand how climate change may affect their future careers and future industries?
Our research goal was to explore opportunities for business schools to better prepare students for their careers by incorporating climate change and environmental considerations into the mainstream curriculum.

Our company research – based on 10-K analysis and interviews with business leaders in health care, finance, technology, energy, transportation, infrastructure and retail – indicates companies are increasingly aware of environmental risks and how climate change will affect their ability to protect and create value. Our student research, based on a survey administered to both UNC Kenan-Flagler and Fuqua students, indicates that students do not feel prepared to address climate-related risks as professionals. Further, the majority feel that climate change risks will not significantly affect them as business leaders. We found these results to be confounding in light of the global consensus that climate change is likely to have profound impacts on industry over the next 40 years, which coincidentally, is the span of current business students’ careers.

Our conclusion: There is a gap between what current businesses need in future leaders and the ability of next generation business leaders (current MBA students) to meet this need.

But something interesting happens when you prime MBA students with climate-related information. When students learned – through our survey that the Task Force for Climate-Related Disclosures commissioned by the Financial Stability Board encourages companies to voluntarily disclose climate-related risks, they placed a greater importance on mitigating these risks.  Our findings support the idea that students gain a deeper appreciation for how climate change affects their industries when empowered with information.

What I hope our research demonstrates is that climate change education should be a part of the mainstream MBA curriculum. There is a gap between what businesses need and what  students are learning. To prepare students, MBA courses  should prompt students to explore how climate change is a source of both risk and opportunity in global business over the next several decades.

In business school, we are taught about the time value of money and how investment now can pay off in the future. In fact, many core business principles are very much aligned with how individuals and corporations should mitigate the risks and monetize the opportunities climate change will inevitably bring over the next few decades and beyond.  After completing this research project, my hope is that that business schools take advantage of the opportunity to incorporate climate-oriented material into mainstream curriculum.

By Devon Bonney (MBA /Duke MEM ’18)

Image
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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Managing conflict  [#permalink]

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New post 14 May 2018, 12:00
FROM Kenan- Flagler Admissions Blog: Managing conflict
Image
A distinguishing feature of our Leadership Development program is the diverse community of experienced coaches who make up the UNC Kenan-Flagler Coaches Forum. Officially created in 2016 to provide a consistently high standard of coaching for our MBA students, it also encourages innovation in our Leadership Program.

 These insights are from professional coach Katherine Gilliland, one of 45 coaches who bring their unique expertise together to create best-in-class thought leadership on MBA coaching at UNC Kenan-Flagler.

 One topic that has come up a lot in my coaching conversations with business students is conflict management. My first reaction is to ask questions about the context. When do you feel stressed out about interactions with others? Is it usually a specific situation or topic? Is there a pattern?

Then I move to questions about their experience. Imagine the last conflict situation you were I – what did you do? What happened? How did you feel? What might you do differently if you had the opportunity?

Finally, I move into questions about the possibilities. If you had no angst about conflict, what would you do in conflict situations? How does that make you feel? What do you think the outcome might be?

Many times what gets in the way of feeling comfortable about conflict is your mindset – that conflict is “bad” and a sign of a strained relationship. In reality, conflict is necessary because we each have our own ideas, and conflict is the clashing of ideas.

It’s how we handle conflict that matters. If we can share our ideas without disparaging another’s – if we can hold each other in positive regard – then we have healthy conflict.

A coaching technique I use at this stage is persona play. I ask my client to think of a person or character (from personal life, public life or fiction) who embodies the conflict style they would like to emulate. Then I ask them to don that persona – “put on the coat” of the character, if you will – when they find themselves in a conflict situation.

One client named her current persona “Meek Millie” and her desired persona “Fierce Frances.” She described Fierce Frances to me – what she looked like and how she behaved – and what it would feel like if she were Fierce Frances in the middle of a conflict situation. She sounded calm, confident and level-headed – and my client pictured herself in that role.

Sometimes, clients want more direction in handling conflict. In that case, I shift more into a performance coach role, giving direction more than asking introspective questions.

As part of the Coaches Forum at UNC Kenan-Flagler, a group of coaches pooled our collective knowledge on coaching topics into an online Coaches Resource Guide by topic. Some of our key points on managing conflict include:

  • If the conflict is a communication breakdown, work on reflective listening to find common ground. Discuss not only the situation, but also your individual perspectives about the situation.
  • Try to get underneath the position to get to the underlying interest.
  • Use resources such as UNC Kenan-Flagler’s “SBIA” (Situation, Behavior, Impact, Action) Feedback model and the book “Crucial Conversations, among others.
In short, coaching around conflict usually involves exploring self-limiting beliefs AND finding resources that help pave a path to healthy conflict. It’s a skill that can really serve us well once we become comfortable with it. To quote author Patrick Lencioni, “Conflict is always the right thing to do when it matters.”

By Katherine Gilliland, Executive Coach at UNC Kenan-Flagler

Image
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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Developing leaders with diverse perspectives  [#permalink]

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New post 14 May 2018, 12:01
FROM Kenan Flagler Executive MBA Blog: Developing leaders with diverse perspectives
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Amanda Rodgers chose to pursue her MBA as a professional challenge to fast-track her growth in management at her company. What she didn’t expect was that earning an MBA would provide immediate opportunities at different companies and the confidence to pursue executive roles she describes as “a huge step outside of my comfort zone.”

What was your favorite aspect of the Executive MBA program?

My favorite part of the Executive MBA program was the accessibility to the faculty. The caliber of professors is amazing – of course we benefitted from our time with them in the classroom, but they also offered help and counsel outside of the classroom. Many have industry experience and do consulting work, so they really understand the industries they teach about, are at the top of their fields, and bring real-life trends and case studies to class.

What made you choose the UNC Kenan-Flagler Executive MBA program?

While there were many reasons, one of the most important was the cohort structure at UNC Kenan-Flagler. I knew that a group who valued team development in tandem with personal growth was right for me. In my cohort and study group, we took on work for each other if any of us were having a hard time with specific classes or because of non-academic reasons. My cohort was close outside of the classroom, and we developed friendships that extended beyond our professional and academic lives.

You know, I don’t think that I even truly understood the value of the cohort until about six months in to the program. It was then that I really grasped how it strengthened our personal growth and development experience –  it makes perfect sense that we would learn in teams because we work in teams every day. During the program, we got so much perspective from our peers in the cohort. I learned that it is always better to have lots of people with different expertise. I have a sales background, and people on my team were HR professionals in pharmaceuticals, aerospace engineers, marketing professionals  and more. The diversity was a huge plus and allowed us to excel in every assignment.

I wanted to make sure that UNC Kenan-Flagler was right for me, so before I applied, I sat in on several classes to get a feel for the interactions between students. I could see the relationships the teams built and the excellent working dynamic the class had, and I knew I wanted that, too.

How did the Executive MBA program develop your leadership skills?

Image
Amanda participates in a team-building exercise during orientation in October 2015.

The program gave me a toolkit to understand diverse business situations and the finesse to approach a variety of problems in unique ways. It gave me the ability to step back and look at the people in the room, and then interpret things differently based on the situation. How can I build confidence right now? How can I encourage? How can I motivate? The answers to those questions are different to different employees – the program gave us an understanding of how people think and the ability to motivate them. It’s a set of principles and a skill set I wouldn’t have learned on the job alone.

When reflecting on my MBA, it’s clear that the entire experience made an impact. Certainly there are “aha!” moments, but it’s really all of it together. Going in, I thought that the hard skills would be most helpful, but after completing the program I most value the soft skills it gave me. Knowing how to inspire and motivate teams and how to constructively go against the grain gave me a new level of confidence. Making the decision to get my Executive MBA was the first time I’d taken a chance on myself in 10 years, and I am so glad I did!

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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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Beyond academics: Teaching real-world leadership skills  [#permalink]

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New post 14 May 2018, 12:01
FROM Kenan Flagler Executive MBA Blog: Beyond academics: Teaching real-world leadership skills
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Bryan Perry, global strategic marketing manager at BASF, is in the Evening MBA Class of 2018 at UNC Kenan-Flagler. Finding time to balance family, a demanding career, and school isn’t easy, but Bryan wouldn’t change it for the world.

What made you choose the UNC Kenan-Flagler Executive MBA program?
I chose it because of UNC Kenan-Flagler’s commitment has to leadership and personal development. I considered other programs, but it was clear that the Executive MBA program goes way beyond teaching hard business skills like economics, accounting, and so on. From a peer perspective, UNC Kenan-Flagler stood above the rest in terms of developing well-rounded leaders. From the initial CCL Benchmarks 360 assessment to the personal development plan you create, UNC Kenan-Flagler understands and helps students develop the personal characteristics leaders need. In short, they uniquely focus on real-world leadership skills, not just academics.

How would you describe the cohort experience?
Highly valuable. It’s easy to think you’re on an island when you start an MBA program, but then you realize everyone has the same challenges. I think about the team I’m in and the true diversity of the team – not just ethnicity and gender, but true diversity. My teammates have different experiences that bring in different perspectives – everyone from the head of anesthesiology to army officers – and I’ve learned so much from them. I’m a doer and very extroverted. The cohort sharpened my leadership skills because my group was extremely intelligent but all learned very differently. I had to learn not to overpower and how to effectively bring other members of my team along. The biggest lesson for me was realizing that I had teammates and group members I could lean on to develop well-rounded skills as a leader.

This program sharpened me in so many ways, but mainly it taught me to do a better job at listening to others and bringing them into the conversation. I learned to read subtle cues from others and understand time management and how to keep a brave face on, even in hard times, better than ever before. The skills I learned during my time at UNC Kenan Flagler made me a stronger, well-rounded, more empathetic leader.

Can you share an expected and unexpected benefit of the program?
To me the expected benefit wasn’t just about dollars and cents. It was about being considered for different roles in the organization that I otherwise wouldn’t have been considered for. The program opens doors to new opportunities; that experiential piece was expected and realized.

However, what surprised me was the marketability I’ve given myself and the network I’ve built. It’s provided a security I didn’t necessarily have before in my career. The program also helped me get a lot better at managing my time.

Is there anything else that you’d like to share?
I would just add that the majority of folks considering an EMBA think, “Can I really manage the workload and the time with everything else I have going on, and can I sit in class for four hours every week?” The answer is “yes,” you just figure out how to do it. It’s tough but you find your routine. The cohort helps – everyone is here putting in valuable time and energy together. As long as you understand that, you’re going to get through. Looking back, I am so glad I made this decision.

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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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Insights from real estate professionals  [#permalink]

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New post 15 May 2018, 05:00
FROM Kenan- Flagler Admissions Blog: Insights from real estate professionals
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With UNC Kenan-Flagler’s annual real estate conference bursting at the seams with more than 400 attendees in 2017, the Leonard W. Wood Center for Real Estate Studies moved the event to the Dean E. Smith Center in 2018for the first time in conference history. The larger venue, coupled with the announcement of keynote speaker Sam Zell, founder and chairman of Equity Group Investments, attracted more than 900 leading real estate professionals from across the country – the largest turnout since the inception of the event.

The day kicked off with a fireside chat between Zell and Dave Hartzell, Steven D. Bell and Leonard W. Wood Distinguished Professor in Real Estate, followed by an interactive panel on market disruptions moderated by Glen Hiemstra of Futurist.com.

The day’s events concluded with Leonard W. Wood (MBA ’72), chairman of GLP Partners, leading a panel on capital markets outlooks. While all topics were insightful and thought provoking, below are some key takeaways of the event.

 History repeating itself
Following an engaging personal account of Sam Zell’s rise to the top of the business world, he dug into how he evaluates the U.S.’s position in the current real estate cycle. Fundamental to Zell’s evaluation process is analyzing oversupply in the market. He notes the oversupply and over commitment in the real estate sector led most recessions. Using the crisis of 2008-09 as an example, Zell says that when new supply started coming online post-crisis it was with great discipline and trepidation. Fast forward to 2018 when we see total hotel supply is up more than 20 percent, high volumes of offices under construction, e-commerce driving the rapid expansion of industrial real estate – all indicators of oversupply. It is not enough to evaluate current vacancies; we must anticipate future vacancies as well.

Making sense of shifts in key demographics
There was once a time where couples married early, moved to the suburbs, bought their first homes and started families – a trend quickly changing in today’s market.  Zell highlights the single largest shift in demographics is the deferral of marriage and its subsequent impact on real estate. In his view, the declining popularity of suburban offices is a direct result of couples deferring marriage. Attracting fresh, young talent to the suburbs is increasingly difficult, as younger generations prefer walkable, mixed-use neighborhoods. For top decision makers like Zell, change presents both challenges and opportunities. He encouraged systematically trying to identify such shifts and understand how they can position themselves to take advantage of them – change can breed opportunity.

Looking beyond the next cycle
Much of the day’s discussion leading up to Glen Hiemstra’s panel on market disruptions focused on lessons learned from historical cycles, how to identify impending oversupply across asset classes, and interpreting the impact of shifting demographics. In contrast, this panel advocated for longer-term thinking longer by asking what the real estate mega trends will be in 2030 and beyond. A growing elderly population in conjunction with the increasing emphasis on renewable energy, artificial intelligence and 3D technology illustrate why contemplating the real possibilities beyond the next cycle presents tremendous opportunity. Ultimately, the message is that real estate can be inherently conservative and requires time to change. To close that gap, we collectively need to do a better job adapting a longer-term outlook on potential possibilities.

With representation from close to 400 firms, the conference successfully fostered an environment of open dialogue among students and professionals from a variety of backgrounds.

By Areti Moustakis (MBA ’18)

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Insights from real estate professionals  [#permalink]

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New post 15 May 2018, 05:02
FROM Kenan Flagler Executive MBA Blog: Insights from real estate professionals
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With UNC Kenan-Flagler’s annual real estate conference bursting at the seams with more than 400 attendees in 2017, the Leonard W. Wood Center for Real Estate Studies moved the event to the Dean E. Smith Center in 2018for the first time in conference history. The larger venue, coupled with the announcement of keynote speaker Sam Zell, founder and chairman of Equity Group Investments, attracted more than 900 leading real estate professionals from across the country – the largest turnout since the inception of the event.

The day kicked off with a fireside chat between Zell and Dave Hartzell, Steven D. Bell and Leonard W. Wood Distinguished Professor in Real Estate, followed by an interactive panel on market disruptions moderated by Glen Hiemstra of Futurist.com.

The day’s events concluded with Leonard W. Wood (MBA ’72), chairman of GLP Partners, leading a panel on capital markets outlooks. While all topics were insightful and thought provoking, below are some key takeaways of the event.

 History repeating itself
Following an engaging personal account of Sam Zell’s rise to the top of the business world, he dug into how he evaluates the U.S.’s position in the current real estate cycle. Fundamental to Zell’s evaluation process is analyzing oversupply in the market. He notes the oversupply and over commitment in the real estate sector led most recessions. Using the crisis of 2008-09 as an example, Zell says that when new supply started coming online post-crisis it was with great discipline and trepidation. Fast forward to 2018 when we see total hotel supply is up more than 20 percent, high volumes of offices under construction, e-commerce driving the rapid expansion of industrial real estate – all indicators of oversupply. It is not enough to evaluate current vacancies; we must anticipate future vacancies as well.

Making sense of shifts in key demographics
There was once a time where couples married early, moved to the suburbs, bought their first homes and started families – a trend quickly changing in today’s market.  Zell highlights the single largest shift in demographics is the deferral of marriage and its subsequent impact on real estate. In his view, the declining popularity of suburban offices is a direct result of couples deferring marriage. Attracting fresh, young talent to the suburbs is increasingly difficult, as younger generations prefer walkable, mixed-use neighborhoods. For top decision makers like Zell, change presents both challenges and opportunities. He encouraged systematically trying to identify such shifts and understand how they can position themselves to take advantage of them – change can breed opportunity.

Looking beyond the next cycle
Much of the day’s discussion leading up to Glen Hiemstra’s panel on market disruptions focused on lessons learned from historical cycles, how to identify impending oversupply across asset classes, and interpreting the impact of shifting demographics. In contrast, this panel advocated for longer-term thinking longer by asking what the real estate mega trends will be in 2030 and beyond. A growing elderly population in conjunction with the increasing emphasis on renewable energy, artificial intelligence and 3D technology illustrate why contemplating the real possibilities beyond the next cycle presents tremendous opportunity. Ultimately, the message is that real estate can be inherently conservative and requires time to change. To close that gap, we collectively need to do a better job adapting a longer-term outlook on potential possibilities.

With representation from close to 400 firms, the conference successfully fostered an environment of open dialogue among students and professionals from a variety of backgrounds.

By Areti Moustakis (MBA ’18)

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Curating different experiences  [#permalink]

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New post 18 May 2018, 06:00
FROM Kenan- Flagler Admissions Blog: Curating different experiences
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I have always been the question asker: I want to know who, what, when, where, why and how as I learn about a new topic. And this habit is what has led to my entrepreneurial work in college.

The UNC Kenan-Flagler Center for Entrepreneurial Studies Adams Apprenticeship has been exposing me to the idea that not all people follow defined paths for their careers. Rather, they let conversations, happenstance interactions and questions lead them to opportunity. Local interactions with my Adams’ coach and mentors has affirmed this, but going on the San Francisco trek in April 2018 continued to verify that I do not have to have a defined path for the next 20 years.

Becoming secure with career insecurities has been difficult, but curating many different experiences of entrepreneurs and intrapreneurs in various companies and industries let me see you can have an entrepreneurial mindset for life.

Hearing mentors’ stories showed me that your role in a company, the size of the company and what industry you specialize in are all subject to change. On the San Francisco Trek, we visited many medium-sized companies.

At Omada Health, a member of the VC team that funded the company, decided to also join their team and run its operations, leaving his funding track behind. This showed me that career paths are flexible, and you can change careers and even industries as your interests and goals adapt.

Former Adams Apprentice Kassra Homaifar (BS ’17) had Optimizely employees talk about changing their internal roles so they could grow and take on new challenges. At the clothing brand Chubbies, the founders spoke about breaking into the female fashion market and how this stage of growth presented completely different challenges than when they started out. The founders  had to adapt their own skillsets or hire a team that could help them succeed at this next stage.

I thrive on being able to learn from new experiences, so by not just seeing but also hearing what these entrepreneurs have done, shows me that I too can tackle new challenges and continue to ask questions throughout my life to find that next opportunity rather than planning every step.

By Gabi Stein (BS ’19)

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Undergrads take on corporate real estate in the Triangle  [#permalink]

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New post 22 May 2018, 11:00
FROM Kenan- Flagler Admissions Blog: Undergrads take on corporate real estate in the Triangle
The Undergraduate Real Estate Club took a phenomenal trek to Raleigh focused on corporate real estate in April 2018.

We started the day at Citrix with a tour of their office, which includes rehabilitated storage containers, a living wall, a yoga studio and a basketball court. Along the way, Jenna Geigerman (MBA ’97), senior manager of facilities and real estate, explained how site selection meshed with design to form the unique space. Citrix is a great example of how tech companies offer diversified office space to continue attracting top-notch talent.

Next we walked over to Red Hat to meet with Patrick Hoffman, director of global real estate strategy, and Ana Marshall, workplace identity specialist. He shared a real-life example of site selection for a Red Hat office in India. He explained basic tenets of both office and retail, as well as what kind of data to consider when selecting an office location.

Our next visit was to McDonald’s regional office in North Hills. McDonald’s was eye-opening visit for many students. While Ray Kroc, McDonald’s Franchise founder disagreed, many view McDonald’s as a real estate company. Rich Davis, regional real estate manager, provided an in-depth view of their company operations beyond the popular film “The Founder.” (For you real estate geeks, it’s an awesome movie!)

Lastly, we visited SAS’s beautiful campus in Cary. Caren Glenn, manager of design operations, explained the recent design and construction of recent buildings. Neville Devlaliwalla, manager of corporate real estate, discussed the importance of feasibility for expansion. Emma Eakes, senior leasing and acquisitions specialist, explained the process of acquiring new office space through a partnership with Cushman & Wakefield. We also learned about some of the amazing benefits of working at SAS.

Overall, the Undergraduate Real Estate Club gained exposure to a side of commercial real estate that many students did not know existed in the business world. Having the ability to see expansive companies that operate here in the Triangle that utilize real estate principles to fuel company growth offered a great deal of new knowledge for students to take forward in their future career searches.

By Mathis Nedell (BA ’19)

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Undergrads take on corporate real estate in the Triangle &nbs [#permalink] 22 May 2018, 11:00

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