Wednesday, September 5, 2007

24 / 48 hour reports, Jack Bauer style

Question: if Jack saves the world every time in 24 hours why can’t we, and the guy doesn’t even have an MBA?

Non the less, Ivey group reports are feared by some and are mentally compared by others to an experience which is as close as you come to slavery in the free world (right.., I should be careful here and make a note that I make an implicit assumption that slavery is not a pleasurable experience for majority of us). Fortunately, I’m here to shed some light on this urban myth. Having gone through both the 24 and 48 hour reports, I can honestly say that, like majority of students, I survived this experience and actually fared fairly well, apart from a slight lack of sleep that is, and we all know that sleep is overrated anyways.

So as it turns out, like a lot of things in life, the experience of a 24 or 48 h report is what you make out of it. There’s no question about it, it puts teams under a lot of pressure to deliver high quality end product within a very aggressive timeframe. However, you can also look at it as a battlefield where your tactics and theories can get a reality check.

Following is my brief recollection of a group report experience. As I’ve mentioned in one of my previous posts we got assigned to our learning teams at the start of the program. Those were also the teams that we worked in for the 24 hour report. Right at noon on Thursday we got a case and associated questions which would be at the foundation of our report. The case that we got was Harvard case dealing with rise and fall of equity research group at US investment bank Lehman Brothers. The case was about 30 pages, which is a bit longer than a typical in-class case. The primary focus was issues of leadership and organizational change. The report was due 6pm the day after, with presentation slides due four hours after that.

Looking back, it was a challenging experience with the hardest part being the issues around trust and control. Real challenge was that since we didn’t work on any significant deliverables as a group before there just wasn’t a sufficient level of trust. Each one of us was trying to write our own equal piece of the report and then attempt putting it all together. I lead the group through the initial analysis, brainstorming, and structuring of ideas. We ended the day at 12pm with a clear outline of the report, feeling pretty good about our progress.

Morning of Friday was spent writing and editing individual pieces of the report. Even though we were running a bit behind the schedule we were moving along nicely.
And then we got a real curve ball. One of our professors came in and gave us a little “hint” which if taken literally meant reversing course of the report 180 degrees at the 19th hour mark. And as they say, the rest is history.

The shear number of lessons that I took away from the 24h report experience is impressive. Apart from the obvious chance to apply the material that we’ve learned in class, team dynamics, leadership, project management, and the list goes on.

We had our second group report last week at the end of second module. The report was the extended version, running for 48 hours. This time around it was a lot smoother, with us being able to manage and delegate well and even finish the report ahead of schedule. Lessons that we’ve learned from our first experience still vivid in our minds we fine tuned the project to deliver a much better results this time around.

That sleep thing… So do any of you recollect how much did Jack sleep during the 24 hours? Wonderful world of TV comes to my rescue again when I’m looking for parallels.

Saturday, September 1, 2007

MBA program research

This post is primarily geared for those of you in the MBA program research phase of the pre-MBA process. I thought I would share couple of ideas about finding an MBA program which is right for you.

Good place to start is to think about what is it that you want to get out of an MBA? Whether it's strictly more money, career growth, or learning aspect that you find appealing. Once you have figured it out, it’s good to keep it in the back of your mind when you are doing your MBA program research.

Next, try to outline your strengths (eg. strong analytical ability, leadership, teamwork, etc.). Being realistic about it is going to help not only in the MBA search but also in the later MBA career search.

Combination of strengths and your goals should give you a pretty good idea about the types of MBA programs that you should be targeting. At this point you should be able to narrow it down to 5-10 schools.

Then there’s a question of fit. The tricky part about fit is that it works both ways. From school’s prospective they are ultimately looking to maximize the number of students successfully placed in high paying jobs. As those students would not only look good on career placement reports, helping to justify high cost of the program, but will also be a generous alumni, providing future support for school. Programs also want to ensure that each student contributes positively to school’s learning environment. On the other hand, you, as a candidate, want to find a best program that would help you accomplish and exceed your goals while being a good personal fit, lets call it a fun factor.

Once you have narrowed the list of schools down to 5-10 schools you can try to prioritize those schools by putting together a list of factors that makes each school different. Those factors can include average starting salary after graduation, tuition fees and cost of living, rankings, program length, class size, just to name few. Depending on how important each of those factors is to you, assign weights (1-10) to each one of them. Adding up the results for each program would tell you the top picks.

Now it’s time to roll up your sleeves and make plans to meet some of your top picks in-person. I would say the easiest way to start would be to find one of the MBA fairs in your area. If you are lucky, all the schools on your list would be there to meet you. You can even go as far as email each school’s admissions and try to set up personal meetings before the fair. If you are lucky, some might even offer to take a look at your qualifications and do an interview if they think that you might be a good fit.

Use an MBA fair as an acid test. Approach all of the schools on your list and ask admissions if your background /goals are a good fit for a program. Make sure to talk to some of the alumni and current students to get a sense of what each program is looking for, both personality and background wise.
If you get a good feeling from talking to both admissions and students don’t hesitate to ask about possibility to visit the school and sit in one of the actual classes. That should give you a much better sense of a fit. You can also try to email both professors and current students to see how responsive they are to answering questions.

MBA fair links:

http://www.topmba.com/mba_fairs/
http://www.thembatour.com/

I’ll be one of the students representing Ivey at the MBA fair on September 23, 2007 in Toronto. Hope to meet some of you there.


Good luck!
George

Useful MBA resources

Going for interviews majority of employers expect you not only be well versed in the MBA material but also be aware of the industry and economic trends. I found the following resources quite useful for both coursework and for career related research.

Coursework related:
How to read financial reports (Guide by Merrill Lynch)
Various MBA topics (Financial Times)

Career related:
Vault guides
Wetfeet guides

Sample case interviews:
McKinsey
BCG
Baine

News:


Economic research:
The World Bank
IMF - International Monetary Fund
European Bank for Reconstruction and Development