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Archive for September, 2006

What you thought, felt, said and did

Wednesday, September 27th, 2006

By Jeremy Dann

Many applicants note that MIT-Sloan’s essays possess a bit of a unique wrinkle.  In addition to asking you to describe your leadership experiences, accomplishments and other managerial highlights, Sloan requests you recount “what you thought, felt, said and did.”

Some MBA aspirants are perplexed and bewildered.  They hate having to describe their innermost thought processes.  Personally, I love it.  I recommend that applicants take this approach to the essays for all of their schools.  MBA programs are not looking for management automatons that are programmed from birth to calculate every NPV correctly and navigate every human resources crisis with aplomb.  They realize young leaders are figuring it out as they go along.  And this struggle makes for a more engaging story.

It’s the Arnold Schwarzenegger approach vs. the Bruce Willis approach.  Both are action heroes.  Both kill their fair share of bad guys.  Both have clever catch phrases they utter throughout their adventures.

But all we know about Arnold is what he does.  I mean, the man literally played an automaton in Terminator.  Even where he’s supposed to be a little bit more human, like in Predator, he barely shows a hint of fear.  Bruce Willis, on the other hand, always makes mistakes on his way to saving the day.  We see the momentary look of fear in his face before he strengthens his resolve and goes back to face the terrorists who took over Nakatomi Plaza.  Bloody feet be damned!
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Though this is a bit of a simplistic example, I hope this illustrates the strength of the “thought, felt, said and did” approach.  A Cliff’s notes version of a strong applicant’s essay might read something like this:

We contacted our largest customer to renegotiate our contract with them.  We stressed the improvements in our product and our high levels of service as reasons why they should sign on for an even bigger order.  They agreed and we expanded our deal.

Nice achievement, Arnold.  Solid execution.  But the story is a little more compelling if the reader can see behind the scenes.

In spite of the risk I saw to our core business, we contacted our largest customer to renegotiate our contract with them.  We stressed the improvements in our product and our high levels of service as reasons why they should sign on for an even bigger order.  It seemed like an eternity as we waited those few crucial minutes for them to analyze our proposal.  But they agreed and we expanded our deal.  We breathed a sigh of relief: our start-up would make payroll for another month.

Now, we know more about you and the context and importance of your achievement.  Leaving space in your essays to delve into your thoughts and emotions will strengthen your credibility as a maturing future business leader.

Hasta la vista.

Show You Mean Business About Business SCHOOL: Be Specific about your “Learning Agenda”

Wednesday, September 6th, 2006

By Jeremy Dann

“You want to go to business school? So what do you want to learn?”

It seems a simple enough inquiry, but applicants often have a very difficult time responding to it. When we went to college, interviewers might ask us about our intended major, but we could craft a pretty broad answer.

In business school, we’re ALL business majors, so we have to have a more defined message to stand out. It’s not enough to say, “I want to learn more about accounting, finance and marketing.” You will learn about those subjects. And so will the hundreds of other folks who enter with you. They’re called “Required Courses.”

Instead of painting with the broad brush, you will need to put a finer point on things in order to prove that you are a serious applicant who has determined that business school is THE logical next step in a career progression. To some people, business school is just a rite of passage or a brand name to add to the resume. But remember, there are people at b-schools who are spending thousands of man-hours developing course materials and standing in front of semi-comatose students, all in the name of “learning.” So, you better know what you want to learn.

If you have a certain “spike” or element of strength in your candidacy, you may choose to develop it further. You may have worked in marketing for the last four years, but realize you want to further your knowledge of youth brand building and unconventional sales channel development because of a certain entrepreneurial idea you have, for instance.

Or, you may have areas you’ve identified as gaps in your professional skillset. Perhaps you’ve been an investment banker for three years and have developed a deep understanding of valuation and debt finance. But, in order to be a part of the LBO industry after b-school, you want to shore up your skills analyzing industrial operations or navigating business law.

Think about the kinds of articles you click to online, or the ones you tear out of Fortune or Business 2.0 to read later. Talking about those kinds of topics will lead you to develop sections of essays and answers to interview questions that are compelling and well-researched. You may want to introduce your interests in an essay like this:

  • “I’m fascinated by the ways brands like Apple have been rolled out in new cultures.”
  • “I have seen the power of internal incentives on organizational behavior and I want to understand them as a management tool.”
  • “I’m impressed by the way top-flight organizations like Starbucks are able to maintain their high levels of customer service.”
  • “In an interconnected world, I want to learn how supply chains can be a competitive advantage.”

Coming up with a short list of subjects that fascinate you can help you research course offerings, research initiatives and clubs at the schools of your choice.

Think about your learning agenda in terms of:

  • Subject areas: More specific than “marketing.” We mean “brand development,” “channel creation,” or “pricing.”
  • Methodologies: Not “financial modeling,” but rather “valuation techniques” or “earnings forecasting.”
  • Industries: Technology, health care or consumer products. Better yet, get a little more specific with market segments like “security technologies,” “new health care service models,” or “branded luxury products.” These are still megabillion dollar industrieswith plenty of opportunities for innovation.
  • Geographies: Are you well-versed in organizational behavior as applied to U.S. companies? Well maybe you want to learn about the differences in India, the Middle East or Latin America. Or maybe you want to learn about investing in China or Canada. You will have plenty of classmates and case materials to help you learn about these different economies.