Stacy Blackman’s Weekly Roundup of B-School Intelligence

In Paul Krugman‘s first public appearance since winning the Nobel Prize on Oct. 13, the Princeton economist and New York Times columnist spoke before an overflow audience at the Kellogg School of Management in the first of the Kellogg Distinguished Lecture Series, a new initiative sponsored by the school’s Office of the Dean. More than 1,000 people listened as he discussed the intersection of U.S. economics and politics, particularly noting recent developments in what has become a global financial crisis.

Over a series of days this month, students from a several business schools got to hear talks by Warren Buffet, Bill Gates, Florian Henckel Von Donnersmarck and Sir Richard Dearlove, illustrating a sometimes overlooked advantage of taking an MBA — the range of influences, not always traditional, to which you can be exposed. CNN’s special supplement on executive education has the details. 

The Wall Street Journal covers the six degrees of EMBA relationships, revealing that students in Executive MBA programs hire each other, form businesses together and even marry classmates. Schools, meanwhile, have stepped up programs to get spouses and significant others in tune with students, and the efforts are paying off.

Patrice Houdayer, dean of EM Lyon Business School in France, discusses the impact of the global economic crisis on international schools with the Wall Street Journal. Find out what Houdayer had to say about international education in a time of turmoil. 

Economist.com offers audio interviews from its October 2008 MBA Fair, with thoughts on the latest MBA rankings, the state of business education, and the growing recognition within NGOs that they need management skills.

The Financial Times has rated EMBA-Global — the partnership between Columbia Business School and London Business School — first in the world in its 2008 rankings of executive MBA programs, published on October 27. Kellogg/Hong Kong UST Business School came in second, followed by Trium: HEC Paris LSE/New York University: Stern in third place.

In a year characterized by bank closures, bailout packages, and worldwide market fluctuations, the MBA Stock Pitch Competition at Cornell’s Johnson School on November 5 – 7 will challenge the nation’s top MBA students to develop stock valuations amid the chaos. This annual competition has become more competitive each year with top schools vying for one of 12 spots to show their valuation prowess to a panel of Wall Street experts.

Bschool.com offers 100 tips and resources to keep MBA applicants organized as you wade through the rankings, school comparisons, essay writing and letters of recommendation.

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Chicago Graduate School of Business is known for creating courses with input from the marketplace. When the world oil market zoomed past $100 a barrel and gas shot up $4-plus per gallon at the pump over the summer, renewable energy became the political and social topic de jour at kitchen tables across the country. Students drawn to the dynamic opportunities that exist in the global energy industry can take advantage of Professor Travis Bradford’s new course, “Innovation in Energy Markets and Opportunities in Renewable Energy.” 

The course provides both theoretical and practical insights into how energy technologies are developed, financed, and deployed. Highlights will include a look at the root drivers of change in the energy industry, the technologies that are emerging, and the factors that will determine their success.

The class will also examine how today’s energy providers are adapting to the changes in global energy markets and how emerging technologies could disrupt traditional energy paradigms.

Bradford is the founder and president of the Prometheus Institute for Sustainable Development, in Cambridge, Massachusetts. The Institute works to accelerate the deployment of socially-beneficial sustainable technologies, including those of energy, water, and food. 

“Having traveled in more than 40 countries, I realized that access to some clean, sustainable resources was available nearly everywhere, and that harnessing them was a matter of applying the right technology when it became available at the right price,” says Bradford of what drew him to his field of research. “Change is hard, until the conditions are right-then change is easy.”

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We are now on Facebook – please join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman. I am posting news about MBA related events, job listings, and of course MBA news.

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For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

The London Business School is a close knit program with an international focus, set in one of the most exciting centers of culture in Europe.  LBS is also one of the top ranked international options with US recruiters. 

When approaching this set of essays, which has very specific questions, you will want to make sure you are also presenting your well-rounded self, with focus on career, extracurriculars and personal attributes.

Question 1 (600 words)
In what role do you see yourself working immediately after graduation? Why? How will your past and present experiences help you achieve this? How will the London Business School MBA Programme contribute to this goal? Why is this the right time for you to pursue an MBA? 

This classic career goals question focuses more on your short-term goals than the typical school might.  Make sure you can clearly demonstrate how your past and present career and personal experiences support your goals, and why you have settled on your particular aspirations.  In addition, you will need to demonstrate why London Business School is the particular MBA program for you and why you are planning to pursue an MBA at this point in your career and your life.

In just 600 words to answer 5 distinct questions you will need to demonstrate your commitment and reasons throughout the essay.  Through your narrative thread it should be obvious why you are pursuing an MBA, why now is the right time and how LBS will help you achieve your goals.  If you are planning to switch careers and do not have the track record to demonstrate you are serious about your goals, it will be helpful to show your commitment through research you have done, extracurricular activities you have been involved with, or relevant accomplishments in your current position.

When researching the LBS difference for this essay, you might find some help in the form of the student blogs on the London website.

Question 2 (200 words)
Where do you see your career progressing five years after graduation and what is your longer term career vision?

As a continuation of essay one, this is your opportunity to talk about your long-term goals – both those that are more in the short-term and those further down your path.

This essay should flow very smoothly from essay one.  There should be a clear link between your immediate post-MBA goals and these two milestones, and all of them will flow from your current and past experiences.

Question 3 (500 words)
Please describe your experience of working in and leading teams, either in your professional or personal life. Include any specific challenges you have faced. Given this experience, what role do you think you will play in your first year study group?

This question offers the opportunity for you to demonstrate your teamwork skills and demonstrate your knowledge of LBS teams.  You may want to refer to student blogs, the programme website or current or former students to understand the role of study groups at LBS and how you will likely fit in. 

In providing your team work example, you have the option of a variety of settings, whether at work or in an extracurricular involvement and an option of discussing either working within or leading teams.  Because the essay asks for several experiences, it will be useful to choose a few specific examples to cite, though you will want to be judicious due to the short length of the essay.  Think about examples that most typify your approach to working within a team, and use these examples to support your speculation about the role you might play within your study group.

Question 4 (400 words)
Student involvement is an extremely important part of the London Business School MBA experience and this is reflected in the character of students on campus. What type of student club or campus community events will you be involved with and why? How will you contribute?

This question provides an opportunity to describe some of the community involvement you have been involved with and relate it to what you might do at LBS.  Thorough research will be helpful here, whether online or in person.  To be most effective in answering this question you will want to be specific and logical in your choices.  What activities make the most sense in the context of your career and industry interests?  What about your hobbies?  Any community involvement you are currently pursuing and plan to continue will be especially credible here.

Question 5 (150 words)
Describe any significant experiences outside of your home country. What did you gain from these?

This question is brief and mainly seeks to understand your international experiences in breadth and depth.  Any particular insight you gained from international travel will be helpful, and if you can tie it to your overall application theme, that’s even better.  Since LBS is a particularly international program they are certainly seeking applicants who are well traveled and thoughtful about the rest of the world.

Question 6 (300 words) (This question is optional)
Is there any other information that you believe would help the MBA Admissions Committee when considering your application?

If you have a situation you need to explain, whether it is a low GPA or academic probation, this is the correct space to address it.  Focus on explanations and not excuses.  If you have additional material that you think will be helpful to your application this may also be an opportunity to offer another reason to admit you. 

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For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

Recruiting season has begun at business schools around the country. But as the ripples from the financial fallout continue to spread, slashed budgets and a freeze on new recruits by consulting firms and banks is the harsh reality for many soon-to-be grads. 

The acronym MBA should stand for “More Bitterness Ahead,” Time magazine’s Jeremy Caplan wrote last week. Between their first and second years of school, most MBA candidates intern in the hopes of securing a promised position after graduation. This year’s class has more students in a holding pattern, even after successful internships, as firms want to see how the economy looks at year’s end before committing to a new class of recruits.

“There’s likely to be more ‘as-needed’ hiring,” says Regina Resnick, Assistant Dean at the Columbia Business School, where about half of the graduating class typically pursues employment in financial services, whether in venture capital, private equity, investment banking or something related.

According to Time, some of the trends shaping this year’s recruiting season include:

• Opportunistic Recruiting:  MBA career advisers say smaller firms and boutique investment companies are taking advantage of Wall Street’s weakness to try to snatch up the smartest young talent.

• Geographic Retrenchment:  Some financial firms that do have slots to fill this fall will cut back on the number of schools they visit. Rather than covering all corners of the country, some firms are focusing on a smaller core group of schools. That may hurt schools further afield that ordinarily benefit from companies casting a wide net.

• Heightened Competition:  As the financial recruiting process slows, students who had planned on working in finance are competing more aggressively for consulting and other positions.

Roxanne Hori, Assistant Dean and Director of the Career Management Center at Northwestern’s Kellogg School of Management, says the silver lining in the current climate is that many students have shown growing interest in other areas, such as social enterprise, energy and health care.  For those who really want to follow the Wall Street herd, it’s going to be a game of “wait and see” whether the recruiters eventually do come knocking.

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We are now on Facebook – please join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman. I am posting news about MBA related events, job listings, and of course MBA news.

I am on Twitter too…click to follow me on Twitter! www.twitter.com/stacyblackman

For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

Each week, we bring you news from the front lines with business school bloggers sounding off on life in the trenches.

Inside HBS faced down the ugly monster of accountability and performance evaluation last week in the form of midterm exams. Fortunately, in a grading structure where it only really matters if you’re in the top 15% of the class (for “Honors” awards), all grades have zero impact on 85% of the students.

Professor feedback on class participation continues for Sync, who says trying to figure out how to juggle a case method discussion with 90 classmates is a bit of a ballet.

Fellow students call Stephanie Storie of the Ivey MBA Student Blog the Elle Woods of B-School. This chartered accountant says you might think business school and the movies don’t have much in common, but we can take away a valuable lesson from the movie “Legally Blonde”… that you can’t judge a book by its cover.

Paragon 2 Pieces knows that the good ol’ boy mentality is still alive and kicking among some people at today’s business schools. Case in point: another student asked whose wife she was during a McCombs Orientation event to which spouses were not invited. The other student–male, international–reacted with surprise when she explained that she too was in the MBA program.

Last week the Berkeley MBA Student Blog showcased an entry from Haas students who actually got to work on a real strategic problem for Facebook. The social networking site is looking for a partner for its “Facebook connect” application, and invited Haas students to submit their ideas for partnerships.

Siddhartha fought off post-exam gloom and the siren call of her mattress last week by preparing to attend the National Association of Women MBAs’ conference and career fair in Stamford, Connecticut.

N.A.S. took a break from classes at LBS and soaked up some culture at the annual Frieze Art Fair held at London’s Regent’s Park. Here, he offers a rant on the sub-genre of “found art,” which really chaps his hide.

The Rose Report on the Chicago GSB Admissions Blog addresses concerns about what financing options will be out there should you apply to b-school this year. Rose Martinelli says the school remains committed to providing access to loans for all of their students regardless of citizenship.

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We are now on Facebook – please join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman. I am posting news about MBA related events, job listings, and of course MBA news.

I am on Twitter too…click to follow me on Twitter! www.twitter.com/stacyblackman

For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.

Stacy Blackman’s Weekly Roundup of B-School Intelligence

We’ve got a lot of news from Yale School of Management (SOM) to share this week. Open Yale courses, offered to the public free of charge via the Internet, are a great way to keep tabs on what’s brewing at B-schools today. “Financial Markets” with professor Robert J. Shiller strives to illuminate the theory of finance and its relation to the history, strengths and imperfections of such institutions as banking, insurance, securities, futures, and other derivatives markets, and the future of these institutions over the next century. 

Also, Yale SOM has announced a new offering, the Pre-MBA Leadership Program for promising college undergraduates, as well as recent college graduates already in the workforce, who are interested in developing their leadership skills and exploring careers in business.

Meanwhile,  Joel M. Podolny made a surprise announcement this week that he will be stepping down as dean of Yale SOM on November 1 to join Apple as vice president and dean of Apple University. Sharon Oster, Yale SOM professor of management and entrepreneurship, will serve as interim dean while the school conducts a search for Podolny’s replacement.

John Hanke of Google Earth has been named Haas School executive fellow, Dean Rich Lyons announced. Hanke is the second business leader to serve in this position as an advisor to the dean, faculty, and staff. Students also gain exposure to these top thinkers and their trailblazing ideas as they participate in events and programs throughout the school year.

Business@Cornell launches with “Market Crisis Unraveled, From Wall Street to Main Street.” Watch a recording of the live webcast, held at 3:00 pm on October 23, to gain perspective from three faculty experts as they weigh in on issues of real estate finance, the market’s reactions to the bailout, and the effect on our economy.

UCLA Anderson School of Management announced that it will be offering the Business Technical Assistance Program (BTAP), an initiative designed to provide minority entrepreneurs with basic business training with an emphasis on new technology. Approximately 35 candidates will participate in the four-day program, to be held at UCLA Anderson School of Management on November 13-16.

To raise its international profile and help fulfill its ambition of becoming one of the top 10 ranked business schools in the world, HEC School of Management in Paris has launched a €100m ($134m) fund-raising campaign. The Chamber of Commerce and Industry of Paris – HEC’s parent company – is also investing a further €100m in the school’s infrastructure.

As an investment in the power and promise of human capital and the ideas that flow from bright and talented individuals, the Simon Graduate School of Business at the University of Rochester is offering graduate business degrees with special scholarship support for U.S. citizens and permanent residents adversely affected by the current economic downturn. 

In other Simon GSB news, the school has teamed up with Deloitte to offer a new Business to Business (B2B) Pricing course. Starting in April 2009, the course will be offered to all Simon full-time, part-time and executive MBA students, alumni and outside pricing professionals through the newly created Center for Pricing at Simon.

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We are now on Facebook – please join the Stacy Blackman Consulting group, or become a friend of Stacy Blackman. I am posting news about MBA related events, job listings, and of course MBA news.

I am on Twitter too…click to follow me on Twitter! www.twitter.com/stacyblackman

For a concise, thoughtful guide that will help you navigate the MBA admissions process with greater success, order our NEW book, The MBA Application Roadmap.