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FROM Copenhagen Students Blog: An industry giant - Søren Skou speaks to CBS MBA students & alumni |
by Khanya An industry giant, Søren Skou, group CEO of Maersk, opened the first MBA alumni event of the 2017 academic year. The timing could not have been more apt, especially with the current transformations taking place within the Maersk group. One would be hard-pressed to find a more open and engaging leader. “I only have a nine-slide presentation. So please, feel free to ask any questions, and I promise not to get offended”. With that opening salvo, we were off to a good start, and he did not disappoint. He took us through the developments that had created the burning platform for the changes within the Maersk group, his secrets to success and leadership principles all in just nine slides. For those who were not present but have aspirations of one day leading one of the biggest Danish companies, here are some of his tips on preparing for the role:
the most impressive of his personal traits was his candour when asked about his biggest career/leadership failures. With great humility, he explained that his most significant mistake had been people related. While he wishes he had not made some of the bad investments, the failures he most wishes to take back were those where he had passively watched as key members of his team failed to deliver on what was required. Overall, it was a great evening and quite a few of the attendants were inspired by his leadership experiences. Two full-time MBA students had this to say about their take-away from the session. “It was a wonderful experience listening to Søren Skou. He was very candid in his responses, and we got to learn a lot about the direction in which Maersk is moving towards.“ "I learnt that the courage to accept mistakes from previous roles and thinking of them as stepping stones is key to the makings of a leader.” |
FROM Copenhagen Students Blog: Life in the green lane |
by Utkarsh “To move, to breathe, to fly, to float, to gain all while you give, to roam the roads of lands remote: To travel is to live.” - Hans Christian Andersen I moved to Copenhagen (CPH) a week before our pre-MBA module. Both my wife & I embarked on a journey of a life time. Between the both of us, we had not travelled outside of India before. The move was planned such that there would be enough time to find a home for the coming year in the new city. In the beginning as we lived in various locations in Copenhagen (CPH) and its suburbs we used bikes to travel everywhere. My first impression of CPH is that cycling is a way of life in Denmark and that the city has taken cycling to the next level. I was amazed to see the importance given to the cycling infrastructure. What I read and learned (more out of curiosity), that the city has its own ‘Bicycle Strategy 2011 -2025’ with objectives of enhancing and making cycling a richer experience altogether. Cykleslangen (the bicycle snake), Bryggebroen, the newly inaugurated kissing bridge are a few iconic cycling infrastructures in CPH which emphasises the love for cycling Danes have. From kids to families, students to working professionals (in suits) to crazy enthusiasts (in their biking suits) and the elderly, bike at their own pace in the cycle lanes. The best sight so far has been to see pets (especially dogs) being zoomed around in specially made ‘Christania’ bikes. For my wife and I, not even 24 hours in CPH, we had rented bikes to get around; just after a week we had bought our very own bikes. I feel that cycling is the way to get around and live the dream in CPH. The infrastructure is seamlessly built for convenience and safety. The experience on a bike takes you from bustling streets of the city to vast expanse of lush green fields in the suburbs, from old European architecture in the city centre to modern architecture and a developing skyline in Ørestad to various canals, gardens and golf clubs – cycling in CPH has everything to offer. As I pen down these thoughts, I am still in awe with the ‘Bicycle Strategy’ developed by the government and my 6 weeks tete-a-tete with cycling is nascent that as time passes I will add more adventures to my ‘CPH Cycling Diary’. |
FROM Copenhagen Students Blog: GMAT, enjoying the moments by a non-math lawyer |
by Nienke Before my boyfriend wanted an adventure abroad and before I decided that that was my cue to fulfil my MBA dream, I had never heard of The Graduate Management Admission Test (GMAT). I didn’t know what to expect, and let’s say; perhaps it was better that way. If you are thinking about taking the GMAT at some point, and you are a non-math lawyer like me (probably not, but still), just stop reading, pour yourself a nice glass of wine and enjoy the rest of your evening. January 2, 2016, still excited about the choices that were going to change my life in a positive way, I started reading ‘The Official Guide for GMAT’. On page one I read: ‘The GMAT is a standardised exam used in admission decisions by more than 5,200 graduate management programs worldwide. It helps you to demonstrate to schools, your academic potential for success in graduate level management studies.’ Okay, perfect, let the journey begin! The GMAT exam is divided into a quantitative and a verbal part. Since my job required me to write and analyse texts, I wasn’t worried about the verbal portion and headed straight for the quantitative exercises. The GMAT developers have a specific way of questioning that I, and many others, haven’t experienced before. This is really frustrating when you are beginning your preparations but in the end is also an opportunity; to learn how to deal with the questions. As a non-math lawyer, I had to first re-learn my high school math. I practised countless exercises from the book, internet and from a pretty nice app on my phone. However, I wish for no-one the hopelessness I felt during the preparation towards the exam. I also wish for no other boyfriends to have to bear with their non-math lawyer-girlfriends studying for the GMAT… But, the practice paid off. At the exam, I knew what was expected of me and that enabled me to be focused during the 3.5 hour exam. I recognised many exercises from the GMAT-book which had a calming effect on me. So, from my own experience, I can promise you that you can prepare for the GMAT. Just do it at your own pace and be sure to know what your strengths and weaknesses are. Focus on those weaknesses during the preparation and use the tools you find on the internet to your advantage. And the silver lining came during my first MBA courses; I realised I really needed the math that I have been practicing in the programme. I would have never thought I would say this but, I am actually really glad that I took the GMAT. So, if there are any non-math lawyers still reading this, do not panic and start practicing, it will help you get into the programme you want, and also help you get through the MBA itself… |
FROM Copenhagen Students Blog: A Number's Game: Using Big Data in Business |
by Daniel It seems only yesterday our MBA journey started. The weeks are flying and the same can be said for the courses. The amazing Dolores Morales recently guided us through - Analytics and Big Data. It consisted of regression, risk analysis, optimisation and decision analysis, as well as “big data in the business world” - this was conducted at lightning speed, true to the fast-paced nature of the Full-Time MBA. Without going into too many details, but reflect on the implications Big Data has (and can have) on all known industries is worth a paragraph. Eric Schmidt, of Google, said in 2010 “There were 5 Exabyte of information created between the dawn of civilisation through 2003 - that information is now created every two days”. I would not be surprised if the rate of data created is closely related to Moore’s law, thus making it nearly impossible to fathom the amount of data created and gathered today. The obvious thing to come to mind when referring to Big Data is the World Wide Web, and our movement in this intricate ocean of data is logged one way or another. We are targeted by marketing based on search history, location, presumed age, and (probably) a hundred other factors. This also happens in real time, hence the sudden adverts for Völkl skies on my Facebook wall only minutes after I search for offers. Automatic algorithms take care of the latter, but in many instances humans with very particular skills swiftly work their way through huge amounts of data – cataloguing, see trends and perhaps figuring out where the next pandemic outbreak will be, and based on people’s medical footprints. With a background as an engineer and part-time data analyst I relate to points raised by Davenport and Patil in their 2012 article “Data Scientist: The Sexiest Job of the 21st Century” - This “new” breed of professionals, “a hybrid of data hacker, analyst, communicator, and trusted advisor”, is still a rare mix not seen too often. In a world of increasing data it is imperative one has the ability to bring structure to large quantities of formless data to make analysis possible - be able to convey opportunities, possibilities and results, in a clear concise way to anyone not fluent in Python and R. The business opportunities using big data are immense, and it’s far from just marketing that benefit from this. Through the use and application of big-data analytics, pharmaceutical firms have developed strategies leading to the optimisation of innovation processes, improved research and clinical trial efficiencies, improving not only the return on investment of the product pipelines, but also the quality of life of their patients in a shorter time span and with optimised results. It is beyond question that we are in the era of Big Data. Information gathering will never stop and will only increase outcomes. Business opportunities flourish, and higher transparency seen through the cases of Snowden, Wikileaks and Panama Papers. Privacy issues still raise questions on regulating the gathering and use of data concerning people’s habits, whereabouts and personal information. Uncle Ben in the Spiderman-trilogy said it well “…with great power comes great responsibility" and I believe this holds true for information and Big Data - the opportunities are endless, but limitations and regulations for use are imperative. |
FROM Copenhagen Students Blog: MBA: A personal take on a Global Experience. |
by Luca Looking at this picture and considering to write something of meaning for the blog. It’s not that I have nothing to say, my classmates kindly point out that I could be somewhat more mild in my externalisations. It’s the simple fact that this picture sums up my past months. After almost 10 years of work experience, it is a welcome change in a broader sense to figure out and ponder my personal aspirations, my limits but most importantly, how the Danish grading system works. Let’s roll back a little and leave philosophy for later. Let’s start by saying that this picture was taken on a weekend, like many others, spent discerning the intricacies of group exercises, lectures, projects, personal portfolios for alumni breakfasts, or figuring out what you are going to do the coming week, whether you will be able to fit in Danish class, go to the opera, or manage to see that Champion’s League football match and still complete the readings without fainting. The most apparent aspect of this picture is that no two persons are alike, few have similar experiences, and even if they do, the differences are oceans apart. No two nationalities are alike either, you could be representing your country, but that tension melts away (in my lucky case) when your national counterpart in class balances you out. I have to say I was amazed by this fact the moment we presented in the first week of class. It’s a great indicator of how in this program you are seen as the sum of who you are and how you both complement and be complemented by the person next to you. The representation, the atmosphere gives you the means to express and give voice to your life and how you live not only as a student but most importantly as a person. My classmates are fathers, mothers, some have stepped out of their country for the first time, others have yet to decide what place they truly call home, others have more passports than Jason Bourne himself and somewhere in between you get all shades of colours and experiences. In my personal view, sometimes being in Denmark almost fades to the background, given this diversity. But you get reminded very quickly when the wind blows in your face at minus 10 degrees, and subtract another 10 when you try and bike like the locals. Returning to the picture, it worth noting that this group was not formed out of a mandate, no one told us we had to stick together. Yes, there are group assignments as part of the program, but it’s the will to help that characterises in this instance. Most of the time it starts with a message on https://gmatclub.com/chat, and ends with papers scattered and group discussions on if it’s worth rearticulating and so forth. Then there is me, the background doing statistics, lost as “Pi” Pitel in the book “The life of Pi” with the tiger being statistics, singing “losing my religion” from R.E.M (I don’t know if you know the lyrics, but the second verse starts with “that’s me in the corner, that’s me in the spot…”) You can pretty much see from my face (the guy in the corner) that I was simply letting “the experts think” because I was still stuck in theory. In conclusion, there is no better thing than to find that sweet spot which I’m striving to keep and maintain in this program. To learn as much as you can from the lessons, the professors and others but at the same time to be conscious that maybe you might be of aid to your fellow classmates as well, and that your take on the world might give an edge in an essay, or in a thought process or learning method. You might learn something new just by being who you are, all in all a truly cooperative attitude. I might end up having the same face yet again in the upcoming months, what I know for sure is that I can ask for help and always be lent an open hand. |
FROM Copenhagen Students Blog: Reflections on the Leadership Discovery Program – the early days |
by Ann-Marie The Leadership Discovery Program (LDP) runs like a thread through the year and completely breaks the pattern of the other mandatory courses. As you have probably read, here the focus is on our soft skills. In my experience of leaders to date, be it in sports or at work, soft skills have often made the difference between a good and a great leader. This course guides us in figuring out our leadership approach and from my experience so far I can definitely say that the course creates space for self-discovery. I have found it useful to be put in a position where I have to make time to reflect. When we started this journey in September I was not sure what was in store. As we have bonded as a class over the last few months, I quickly realised that the opportunities to experiment in finding our personal leadership styles are plentiful in this supportive environment. Stepping outside my comfort zone is starting to no longer feel as daunting. Having had a team retreat in November, the apprehension for the infamous Sweden trip grows. As in former years, everyone is under strict instruction not to tell the ’17 class what lies ahead when we travel to Sweden for a week in April. At the rate time flies, we will be there before we know it. I for one have started to really look forward to this unknown! |
FROM Copenhagen Students Blog: Managing Sustainable Corporations - What’s the secret? |
by Utkarsh Managing sustainable corporations (MSC) is one of the core courses of the Copenhagen Fulltime-MBA programme. It is one of those courses which is extensive and theoretical and covers various dimensions of responsible management but without a book in sight. The course may suggest that the students will walk through sustainable business development strategies and address the most talked about theme these days - ‘climate change’; but it hinges more on 'Corporate Social Responsibility (CSR)’. Sustainability is a subset of the broader CSR agenda which is a part of business strategy with social, ethical and economical responsibility towards the larger society. This is one of the first myth’s that’s clarified as the course starts and gradually builds up. We had guest speakers from leading Danish corporations to Parliamentary leaders including leading NGO’s who shared more on evolving areas like sustainability reporting. These guest lectures and the case based teaching module adds a different flavour to our learning overall. As the course comes to an end, we slide away from real time cases and experiences to make a connection between basic values such as integrity, courage, trust and the CSR agenda. Linking together the other courses in the programme - leadership, marketing; MSC focuses on the communication aspect and what its role can be in driving the CSR agenda in an organisation. In a complex globalised world like ours, we feel the need of having effective leadership at the helm. The MSC coursework might leave some with grey areas in the underlying theme of responsible management. The course doesn’t serve itself on a platter and tells you what’s right and what’s not. It gives you the overarching framework to determine those decisions as a future leader yourself, outside of considering the shareholder’s interest but taking into view the bigger and greater stakeholder’s interest. The course structure and teaching pushes you to question your personal approach whilst solving the case studies. Ultimately, there are no secret ingredients in running a socially responsible yet profitable business; it’s the basic value framework involving integrity, trust and courage |
FROM Copenhagen Students Blog: The Task At Hand: Facing a Trump America |
by Wynne In a recent piece for the Financial Times’ MBA Blog, I spoke to the shocks of the recent inauguration of Mr. Trump in the U.S. and the vote for Brexit in the UK. These events are creating many setbacks to the strides we have taken recently in favour of human rights and combating climate change. But they are also catalysts for positive change for the individuals who are fired up and ready to go stand up for what matters most. As Eleanor Roosevelt once said, “You gain strength, courage, and confidence by every experience in which you really stop to look fear in the face. You must do the thing you think you cannot do.” We fear regression, but there is much we can do. I spoke with my classmates (representative of countries from all around the world), my professors, and visiting speakers and here is a little bit of inspiration to get you started. For Employers / Employees: · Recognise the power of business. Do not be ignorant to your own influence. There is no such thing as an a-political corporation in the polarised climate under which we are operating today. Every decision must be intentional. · Create meaningful working class jobs. If your consumers are voting pro-nationalism, are they willing to pay a higher price for locally sourced products? Can you source your products or raw materials locally? Can you conduct market research to prove your case to investors? There may even be a risk management case to make for keeping the supply chain close for better transparency. · Treat your employees with respect and invest in their development. Look at the most recently hired/promoted people at your company. Are they a diverse group? Are you promoting from within? If not, chances are good that some of your talent is falling through the cracks or not being developed. It may not be intentional, but you can become aware of it and take strides to be sure you are capitalizing on your best resource – your employees. · If you have employees who may feel marginalised or unsafe in the current social climate sparked by the election, reach out and check-in with them. Do they feel safe in their commute to work? (This has been very relevant for many of my friends living in New York, so it is worth asking.) Is there anything you can do to help? Has the office climate changed at all for them? It is important that they are able to focus on doing a good job without feeling marginalised or harassed at work. Keep tabs on this. If handled with care, you will foster the establishment of a strong working environment and retain your talented minority (women included) workers. · Look for business opportunities. What was the change you were hoping for? Is there a gap in products/services today and the products/services we need to achieve that change? Your next great venture may just be hidden in the void. You will know best how these things must ultimately align with a clear business case appropriate for your company, but it is important to point out those business practices that shape our countries, our politics, and ultimately our societies. Investors: · Divest from energy companies who are not investing in the future. Oil is booming right now with the recent elections, but the future will hold a diverse portfolio of energy sources. Companies who are only focused on fossil fuels are resisting innovation. · Be an active voter in the companies you invest in. If you hold stocks in companies that are doing things that you do not support – underpaying workers, polluting, vocalising racist sentiment – use your voice as a shareholder to change things. Be active and let them know that as an owner you do not support the way they are operating the business. Chances are high, you are not alone. Get other investors involved. · Invest in companies that are good for people, planet, and profit. There are many resources for those interested in impact investing. Read up and put your money where your values are. On the personal side: invest in values you care about. Whatever they are, donate your time or money to the things that matter most. Create the world you want to live in and that you want your children to live in. Consider it a long-term investment. The most important thing ultimately is to do something. So get out there, and be active. Have some great ideas? Please add a comment below. |
FROM Copenhagen Students Blog: MBA life in Copenhagen: A midwinter night’s tale |
by Khanya I come from a country that is renowned for its great weather, beautiful sunny days that are ideal for sundowners at the end of a hectic day. There was even a countrywide excitement when snow graced South Africa for the first time in history; it is, however, debatable whether that was snow, or more like a light version of hailstones. The point I am trying to make is that I don’t like the cold, even my six years in Amsterdam has not changed this fact. So, imagine the surprise of my friends when I decided to move to an even colder country to follow my MBA studies. Now I could lie and say, Copenhagen is not that cold or that it has made me fall in love with the cold, but this would be stretching the element of truth a tad bit too much. However, what I can honestly say, is that I have come to respect and even apply the Danish society’s take on how to make lemonade from the weather lemons. This approach is known as Danish hygge - yes there is even a word for it. Hygge means creating a warm atmosphere and enjoying the good things in life with good people. During those cold and dark winter days, you will find houses and offices filled with candles to create this warm atmosphere. Even our MBA building had this cozy feel; we would walk in from the miserable weather, and be greeted by candlelight at the reception. One of our Indian colleagues would make some amazing Indian tea for the class, and those classmates that needed a caffeine kick to get them ready for their 9 am change management class would indulge in some spectacular coffee courtesy of our Italian colleague, who brought a fancy coffee machine for our kitchen. My only advice for anyone considering Copenhagen living, invest in a warm jacket, not a cute one but a warm and practical jacket. This is the one time where practicality trumps style. As the Danes say “There is no such thing as bad weather, only bad clothes” even in Springtime. |
FROM Copenhagen Students Blog: Venture Capital Investment Competition begins ... |
by Wynne Going to business school, we all assume we know a good business when we see it. Many of us go so far as to believe we have what it takes to spot the next instagram or airbnb. At the Venture Capital Investment Competition on February 5th, CBS’s Full-Time MBAs got to put our skills to the test and the competition was fierce. The goal of the VCIC competition is to mock the VC process of selecting a start-up to invest in, pitching that investment to the managing partners of your VC firm (the judges), and then handling negotiations with the entrepreneur to seal the deal and make an investment. The day began with Denmark’s finest pastries and a coffee truck to get the contestants, entrepreneurs and judges started for what was a long, grueling, and incredible day. Those of us participating had received packets of the start-ups information including business plans, financials, and other collateral just two days prior. We had then spent the 48 hours leading up to the competition researching industries, competitors, Linkedin profiles of board members, and pretty much any bit of information we could find to get a solid understanding of each start-up. By the time the competition day arrived we were ready to go with our decisions all but made. After a round of pitches from the entrepreneurs, we finalized our questions for our round of due diligence. Due diligence consisted of 12minutes of Q and A between each team and each entrepreneur. After the Q and A you were then given feedback from the observing judges. This was an essential piece because you had to quickly pivot your due diligence questioning technique to adapt to the feedback. The team that won the “Entrepreneur Award” (the entrepreneurs voted them the team they most liked working with) focused their due diligence session on learning what the entrepreneur was looking for from the VC. The final question they asked in each round was “What keeps you up at night?”. In the VC world, the relationship between a VC and the entrepreneur is essential and can ultimately be what makes or breaks a deal or even the company as a strong partnership can lead to essential collaboration. The most challenging part was the partner meeting. The questions were deep, well thought, and delivered like rapid fire. It was brutal, but most of my classmates’ favorite part of the competition. The winning team truly excelled here, handling the judges questions and coming across strong while conceding necessary alterations to their term sheet. The judges were very impressed by both their technical skill in crafting and defending the terms, as well as their political maneuvering to keep the conversation going. In the end, every team brought their A-game. Two teams made it to the negotiation round and Team K-Ventures won first place. They will be representing CBS at the regionals in Cranfield and we are sure they will do us proud. The experience overall was amazing and I would highly recommend the program to all future MBA students whether they have an interest in VC work or not. |
FROM Copenhagen Students Blog: Tips from a successful student: How I nailed the personal interview |
by Daniel The headline here is rather a big overstatement - at times where I desperately thread water and do my best just to keep my head above the water line, I couldn’t feel less like the successful student. However, the work load oscillates and when you have pulled through and written that 10-page assignment in just 2 days, life feels very good. In my point of view, life is all about the contrasts, and my oh my, does the MBA give us exactly that! So, the personal interview.. It was last April, a couple of weeks after I had submitted my application, that the Admission Manager for the Programme, Thuli, replied with an email and asked if we could schedule a telephone call later that week. This was just an initial phone call to discuss my submission, as well as go-through a couple of details in my profile, but I still remember that my heart skipped a beat when I read the email. I got the impression that I had passed the initial screening and that it was now up to me to show that I deserved a spot in the year’s program. The phone call was nothing to be scared of as Thuli was warm and welcoming, and we had a good conversation about my education, my motivations for doing an MBA, my future plans, and my stuttering. Nine out of ten times I “disclose” the stuttering in the beginning of a conversation with a new acquaintance , and this time was no exception. I do this to address the “elephant in the room” so to say, and this both lowers my stress level, and most often the other party’s as well. The phone call was brief, but enlightening, with regards to what I could expect in the coming year if I got in. I was also invited to the campus by Thuli, so that I could sit in on a lecture and meet the staff in person. I didn’t have the opportunity to do this myself, but those who did told me later that this just reassured them that they wanted to go for the Full-Time CBS Programme, and that it helped them to mentally prepare for the workload to come. Most of them also had their personal interview while visiting the campus in spring. This is highly recommended! Following this, I got an email inviting me to the official personal interview the following week. It went by very fast and Gitte was just as warm and welcoming as Thuli. If I should give some specific advice it would be the same clichés as always; be yourself, be honest and sincere, show motivation and just relax. Like all interviews prepare briefly with some background information you think can be valuable, make an outline of what you would like to convey, but all in all keep it natural and conversation-like. One final piece of advice though, be certain you are motivated for this. It is A LOT of hard work, to some points ridiculously difficult, but in the end you will reap the benefits of your hard work and get a pretty fancy degree on top of your former experience. And not to say the least, get some new life-long friends and a really valuable network. Apropos ridiculously difficult, I still haven’t got my head around Miller & Modigliani 2nd preposition, and with the Corporate Finance exam in less than 16 hrs I better get to it. Sayonara! |
FROM Copenhagen Students Blog: Getting Physical - Leadership Simulator trip in Sweden |
The long awaited (and for many: dreaded) Sweden-trip was finally upon us the week after Easter. This was going to be the highlight of our Leadership Discovery Process, where we could demonstrate what we had learned during our MBA and get insights into our personal leadership style. We didn’t know a lot about the trip itself, or the content of it, as both teachers and alumni had been quite elusive with regards to specifics. Or as the LDP course outline states: “You must be prepared for anything. The surroundings will be unfamiliar. As in real life, it is all about planning for the unforeseen and reacting correctly when something unexpected happens.” Sounds like a commercial for some kind of Special Forces, right? To uphold the tradition I will not reveal too much of what we did in Sweden, a big part of the experience is not knowing what you are going to do. However, I will reveal that it may be beneficial to be on good terms with the Weather God during that week. Our class was not… So, at times, most of us were cold - pretty much soaked to the bone. BUT, this, at least for my part, made the trip so much more of an experience. One thing you learn during the LDP is that when in the Training Zone you learn - and this is something which resonates well with my long-standing mantra of “It’s outside the comfort zone you really live and learn”. With contrasting moments both learnings and experiences make a lasting impact, and I can still remember many of the conversations and statements made during the week - I’m of course talking refering to the feedback-sessions. Which is something we did A LOT. Surprisingly, it quickly became a much sought after activity, and it is definitely something I will take with me into my future work life. For those who think this sounds like a drag - it’s not. We had plenty of good times - sitting around the fire side, exhilarating activites and a very welcoming surprise in the end including enjoying some sunshone. Overall, the trip was a worthy ending to our LDP program - the course most surrounded in mysticism and perhaps some skepticism, during the year of the MBA depending on who you are as a student. I highly ecommend it with all my heart - and if you are a prospective/future student; absolutely look forward to it!! |
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