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| FROM Kellogg MBA Blog: Kellogg hosts inaugural growth forum |
![]() The Kellogg School of Management convened its inaugural Kellogg on Growth forum on Nov. 10, bringing together some of the world’s most influential thought leaders to discuss their approach to driving and studying growth at the enterprise, macroeconomic and personal level. More than 1,400 attended the one-of-a-kind event, which featured nearly 60 speakers — including Kellogg faculty, alumni and prominent business leaders — delivering fresh ideas and new perspectives on taking organizations to the next level via growth and scaling, a fundamental challenge that most businesses face. PricewaterhouseCoopers was a presenting sponsor for the event. In opening the event, Dean Sally Blount ’92 highlighted the dual meaning of the word growth as a matter of increasing both economic value and self-knowledge. Balancing that understanding of size and scale with clarity and insight is an essential tool that future leaders must master, she said. “We have a driving need to understand how we can survive and thrive in this new economic, political and social order,” Blount said. Opportunities for growth The one-day conference included thought-provoking sessions and interactive engagement opportunities that covered four distinct programming tracks, each one examining the factors that can lead to long-term growth:
View social media highlights from the event. See pictures from the forum. Filed under: Academics, Business Insight, Career, Student Life Tagged: Dean Sally Blount, entrepreneurship, Growth, growth and scaling, Growth Forum, Innovation, Kellogg on Growth, leadership, scaling, social impact |
| FROM Kellogg MBA Blog: Networking can lead to growth |
![]() Success in the emerging global economy requires the ability to adapt, and your power to do so depends on the vitality of your network, says Ellen Levy, managing director of Silicon Valley Connect. “There’s a capability that very rarely gets mentioned or recognized, but is becoming more and more powerful, and more and more a strategic advantage for companies that leverage it in our technology-enabled world,” said Levy, who invests in and advises a portfolio of more than 50 startups. “And that’s the power of your network.” Levy shared her insights on networking during the opening session of the inaugural Kellogg on Growth Forum, held Nov. 10 at the Kellogg School of Management. Building a strong network Discussions of networks usually focus on how to use them, Levy said, but “you have to build a quality network before you can take advantage of it,” and it must be continually nurtured to be useful. “If you only look at ways of extracting value from it, and not what you can contribute to it, then no matter what value you’ve built into it in the first place, it will deteriorate over time.” One strategy Levy uses to nurture her own network is to set aside a few minutes each week to write a note — often “just to say I’m thinking about you” — to a few people that she hasn’t recently been in touch with. She typically writes that there is no need to respond, adding: “It’s a gift when someone reaches out and says, ‘By the way, I don’t expect to hear back from you. I just want you to know that I care.’” Read more about Levy’s speech. View social media highlights from the event. See pictures from the forum. Filed under: Academics, Business Insight, Career, Student Life Tagged: Growth, Growth Forum, Kellogg on Growth, leadership, network, networking |
| FROM Kellogg MBA Blog: ‘Dream big and do big things’ |
![]() By Andrew Zaleski In the mid-1980s, Robert Swan found himself surrounded by the white, icy nothingness of Antarctica, leading an expedition with two other men who, by that point, had grown to hate each other. His team, with no radio communications or back-up support, had trudged more than 400 miles already, and it was time to make a decision. They could either turn back and retreat to base camp or continue on and haul their 360-pound sled an additional 500 miles toward the South Pole. If he reached the pole, a feat that would take a total of 70 days in subzero temperatures, Swan and his team would complete the longest, unassisted march in history. But if he failed, they would die. The outcome of Swan’s expedition became apparent when the 59-year-old walked on stage at the Welsh-Ryan Arena to close out the inaugural Kellogg on Growth Forum. Not only did Swan successfully reach the South Pole in 1987, but he also trudged to the North Pole in 1989. “I am the first person in history stupid enough to have walked to both bloody poles,” Swan told the crowd, before adding that marching to one pole, let alone two, is “completely pointless.” Lessons learned at the poles Swan’s personal feats through polar expeditions taught the knighted Englishman important lessons about leadership. Being cooped up in tents with the same people over extended periods of time taught him how to be patient and listen to people. He selected team members who weren’t “yes-men” and challenged him on key decisions. To make good time on his polar treks, he unconditionally trusted the route picked by whichever team member was leading on any given day. Once he decided he would march to both poles, Swan stuck to his decision so he wouldn’t be known as just a talker. But perhaps the biggest lesson he imparted on the crowd was how to matter. “I learned the most important thing about leadership: I realized I was not being relevant,” Swan said. “Yeah, I could remove garbage and polish penguins, but it wouldn’t really help preserve Antarctica. To become relevant, I had to become like you: business-like.” Preserving Antarctica Today, Swan helms 2041, an organization that takes its name from the year when the Antarctic Treaty System will be renegotiated, possibly lifting a moratorium on mining that has protected the southernmost continent since 1961. Through annual expeditions with people from countries across the world, Swan has dedicated his life to preserving the Antarctic, raising awareness of the melting polar ice caps, and the importance of renewable energy. And it all started because Swan decided to try something that other people thought was stupid. “Dream big and do big things,” he said. “For boldness has genius, power, and magic in it.” View social media highlights from the event. See pictures from the forum. Filed under: Academics, Business Insight, Career, Student Life Tagged: Growth, Growth Forum, impact, Kellogg on Growth, leadership |
| FROM Kellogg MBA Blog: Breakfast with Visa’s SVP, Head of North America Marketing |
By Erica Conti![]() Last month, 11 Kellogg ladies and I had the opportunity to grab breakfast and chat with Lara Balazs ’00, Visa’s SVP, head of North America marketing. Prior to Visa, Balazs held a variety of marketing and strategy roles at Prophet, Gap and Nike. She was recently named as one of Brand Innovators’ 2015 Top 50 Women in Brand Marketing, alongside the Chief Management Officers of the NBA, Nestle USA and JPMorgan Chase. Balazs has a great affinity for Kellogg, and similar to many of the Kellogg alumni that I’ve met over the years, her energy was contagious. Most of the ladies in the room, including myself, are interested in pursuing careers in marketing, and it was exciting to think that Balazs was in our shoes 15 years ago. I was pleasantly surprised with how open she was and how interested she was in “paying forward” the professional lessons she learned throughout her career. After the event, I found myself reflecting on two particular pieces of advice she shared. 1. Learn to live in the “gray” Balazs emphasized that today’s MBA graduates need to be comfortable living in the “gray.” Many of us, including myself, began our careers in academy companies or rotational programs, where we received structured training and projects. This summer, I had the opportunity to work in a more entrepreneurial culture with less processes, and while it was very nerve-wracking at times, it was also exhilarating. I was glad to hear her say that learning how to solve problems in your own way is critical for your success — it gives you the opportunity to be creative and utilize your own unique set of skills and experiences to drive positive outcomes. 2. Be willing to “jungle gym” Balazs mentioned that she made several lateral moves in her career, all of which were motivated by her desire to round out her skill set. She recommended that we do the same — by pursuing areas we’re lacking experience in and volunteering for high-risk assignments, we become more confident and receive greater visibility. When I met with Dean Kate Smith last year, she shared similar advice and emphasized that if you’re brave enough to take on a role or project that others have passed on, it may result in the opportunity to make an immediate and lasting impact. I will definitely keep this advice in my mind as I begin my full-time role, and I will think twice before being reluctant to participate in intimidating or undefined projects. In the end, what I admired most in Balazs was her enthusiasm for striving to be a better leader. Despite her prestigious career and many accolades, she makes it a priority to continually seek feedback and try new ways of working based on that feedback. I left the breakfast feeling invigorated after spending time with an alum who was so relatable. It made me even more excited about where my career could take me post-graduation! Erica Conti is a second-year student in Kellogg’s Full-Time Two-Year MBA Program. Prior to Kellogg, Erica worked in marketing analytics at Nielsen in New Jersey. After graduating, she is looking forward to kicking off her own marketing career at her summer internship employer, PepsiCo Chicago. Filed under: Academics, Business Insight, Student Life Tagged: Advice, alumni, marketing, WBA, Women's Business Association |
| FROM Kellogg MBA Blog: Amazon’s Udaan problem | MBA Learnings |
![]() Second-year student Rohan Rajiv is blogging once a week about important lessons he is learning at Kellogg. Read more of his posts here. We recently looked at why Amazon’s first physical bookstore in Seattle made sense. The central theme was that different products are suited to different kinds of retail channels. As you might imagine, shipping individual cartons of milk or toilet paper isn’t cost effective as the delivery costs likely outstrip the cost of the good. Additionally, it is easy for stores to carry excess milk or toilet paper as these goods are cheap. However, when the good becomes niche and expensive (e.g. diamonds), delivery becomes cheaper, and it then makes a ton of sense to centralize warehouses as carrying inventory in store is a very expensive proposition. So, as retailers get larger, it becomes essential to adopt a “hybrid” or “omni-channel” approach to supplying goods to customers. It is the only way to stay competitive. When we then consider an emerging market like India, retailers like Amazon are faced with additional problems. For example, Indian consumers don’t trust the online channel as much and regularly opt for “cash-on-delivery.” This has massive costs associated with it as it means all delivery personnel need to be equipped with and trained to deal with cash. Additionally, it is not very efficient. So a recent class discussion centered on what Amazon’s approach in India might look like. Our Professor’s thesis was that the best way forward for Amazon would be to partner with the hundreds of thousands of local retailers as it would solve three important problems: 1. Tailoring. Low value products could be sold from the retailer and save Amazon delivery costs. In return, retailers could place orders for the more expensive, niche goods and better serve their customers.The best part is that this wouldn’t require customers to change their behavior – opening up Amazon retail stores, on the other hand, would require customers to stop visiting their local retailers. 2. Cash-on-delivery. Amazon delivery personnel need not worry about cash-on-delivery. They could enable cash-on-delivery for in-store pick up only. 3. Delivery. Finally, delivery personnel need not worry about not being able to deliver orders. If there are any issues, they could then deliver the goods at a retail store nearby. And, right on cue, Time had an article about Amazon’s “Udaan” program — unveiling a large pilot of a retailer partnership program. Fascinating. (HT: Prof Chopra @ Kellogg) Rohan Rajiv is a second-year student in Kellogg’s Full-Time Two-Year Program. Prior to Kellogg he worked at a-connect serving clients on consulting projects across 14 countries in Europe, Asia, Australia and South America. He blogs a learning every day, including his MBA Learnings series, on www.ALearningaDay.com. Filed under: Uncategorized Tagged: Amazon, distribution strategy, MBA Learnings, retail, strategy |
| FROM Kellogg MBA Blog: What I’m thankful for |
![]() (Image credit: Katie Deppong of the Kellogg Photography Club) As fall quarter approaches its end, Kellogg students are excited to take a few days off and jump into Thanksgiving break with family, friends, and of course, good food. In the spirit of giving thanks, we asked students to answer the following questions: What are you most thankful for this Thanksgiving season, and more specifically, what are you most thankful for in terms of your Kellogg experience? Harini Sathi ’17 OVERALL, I’M THANKFUL FOR … It may sound generic, but I am very thankful for my good health, family, friends and the fact that I got into Kellogg and am making amazing friends here. IN TERMS OF KELLOGG, I’M THANKFUL FOR … My KWEST group. We went to Amsterdam together and my main, most deep friendships were formed there. I don’t even see them as my “KWEST friends group” anymore, but just my “best friends.” ———- A.J. Riddell ’17 OVERALL, I’M THANKFUL FOR … My family coming to Chicago and being able to spend time together for Thanksgiving. I’m excited to watch the Michigan-Ohio State game as a family. Go blue! IN TERMS OF KELLOGG, I’M THANKFUL FOR … All of the people at Kellogg because they are easy to meet and easy to work with. There is no exclusivity here – it’s an inclusive group of people that like to have fun together. ———- Anshuman Sinha ’16 OVERALL, I’M THANKFUL FOR … The opportunity to come to Kellogg and learn every day. IN TERMS OF KELLOGG, I’M THANKFUL FOR… Being a part of this community. The Kellogg community is one of the few communities where people are tight-knit and truly respect each other. I feel like I am part of something greater here. What are you most thankful for this Thanksgiving season? Leave us a comment below and let us know. Happy Thanksgiving! Learn more about Kellogg’s Full-Time MBA Program. Filed under: Student Life Tagged: community, culture, kwest, Thanksgiving |
| FROM Kellogg MBA Blog: What it’s like to be a designer at IDEO |
![]() This is the first in an ongoing series highlighting MMM summer internship experiences. Name: Michael Chen Industry: Design Consulting Company: IDEO Function: Business Designer Location: Chicago, IL I spent my summer at IDEO and had a wonderful time designing, strategizing, and barreling through boxes of Post-It notes in efforts to rapidly ideate product and business model concepts for my projects. I was one of a few MBAs at IDEO Chicago, and I was surrounded by some of the most talented designers and engineers I’ve had a chance to work with. Although my title was of a business capacity and I held an expertise in the “viability” portion of the diagram below, I was — at first — a designer. This designation had two very important implications for the job. ![]() First, I was fully integrated in the innovation and idea generation process that IDEO is known for. I used many of the concepts learned in the MMM Program, particularly in our Research-Design-Build class, to take a fully human-centered approach to the solutions I would come up with. Secondly, being a designer meant that the way I communicated business concepts to my team also needed to take a design-driven approach. This encouraged me to make data heavy spreadsheets user-friendly so that they could easily be explained and quickly adopted by individuals who were outside of the analytical process. These methods came to life throughout my two projects over the summer. My first project was for a healthcare client seeking to use new smartwatch platforms as a tool to help individuals with diabetes better monitor their daily lives. Through an empathetic approach, my team and I wore five sets of smartwatches around to understand the utility and nuances within each brand, in addition to logging daily intake so that we could begin to understand the rituals of our target users. The second project kicked my business sense into full gear as I engaged in a market and opportunity assessment for the commercial launch of a popular household product. Here, I combined left brain thinking in the analysis of markets and right brain creativity in product concepting to arrive at ideas that were desired by consumers and possible for the company to manufacture, while all making sense financially. All in all, I found that a job in design consulting strongly leverages the skill set and classes that the MMM Program embodies. Read student reactions from IDEO Chief Creative Officer Paul Bennett’s 2015 speech at Kellogg. Learn more about the MMM program. Filed under: Academics, Student Life Tagged: Design, design innovation, IDEO, Innovation, internship, MMM, MMM internship, research-design-build |
Success stories and strategies from high-scoring candidates.