Archive for January, 2009

Solid Advice from Stanford GSB Leadership Coach

Wednesday, January 28th, 2009

Leadership coach Ed Batista from Stanford’s Graduate School of Business had an insightful post last week on three things you probably won’t learn in b-school. With a major assist from his colleague Corey Ford, former GSB student and a fellow and lecturer at the Stanford Institute of Design, Batista shares some key lessons most students learn only after they graduate.

  • Business school will help you get from point B to point Z. Finding out where to get started is up to you…and not something you should hope to figure out once you’re already in business school.
  • Spending two years surrounded by MBAs can leave you unprepared for interacting in the real world once you’re on the job. Make sure all of the traits honed in b-school–competitiveness, drive, leadership skills–don’t leave other, non-MBA stakeholders in the dust or feeling sidelined as you lead the charge.
  • Many MBAs are surprisingly risk-averse.  By avoiding failure like the plague, Batista says you create a ceiling over your accomplishments. And we all know the greater the risk, the greater the reward.

Check out Batista’s complete post, which comes with nifty graphics, too. What would you add to his list of things you probably won’t learn in business school?

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Tuesday Tips – Waitlist Tips

Tuesday, January 27th, 2009

If you were a Round 1 applicant this season, over the last few weeks you may have received great news, upsetting news or a mix of both – otherwise known as placement on the waitlist. First of all, the waitlist is great feedback. It means that you are qualified to attend the program, and that the school was interested in your application and your profile. Unfortunately, it was a competitive year and they couldn’t offer you a solid place in the class. If you’re like Omne, the waitlist is still a tough place to be.

Will I get in?
There is almost no way to know if you will be admitted off the waitlist. It certainly does happen, often, yet you have little information about the ranking of the waitlist, how many people are on the waitlist, or whether the school will reach the yield they are looking for with regular applicants. Therefore, being on the waitlist means a certain comfort with ambiguity. Hopefully you were admitted to another school and can decide whether to remain in limbo or not.

Should I stay on the waitlist?
The decision to stay on the waitlist depends on your interest level in the MBA program you have been waitlisted for. If it is your top choice, you may be willing to remain on the list until school begins, especially if you are willing to move quickly and give up a deposit on a school that has offered you firm admission.

If the waitlisting program is not your first choice, or you would like to settle your MBA plans before school starts, you may choose to remove your name from the list. It is a great service to another applicant if you do so promptly, allowing someone else a chance at their MBA dream.

Can I improve my chances of admission from the waitlist?
You may be able to improve your chances. The number one rule of waitlists is to follow directions. The school provided you with instructions about how to handle the waitlist process, and you must follow these directions to avoid having a negative impact on your standing with the admissions committee. If the school tells you that no additional materials are required, no additional materials are required, and you should not submit any under any circumstances. Wharton’s waitlist policies, for example, are posted clearly on the adcom blog UCLA outlines waitlist policies on their website as well.

If the MBA program does provide the option of submitting additional materials, apply consistent application strategy to the task. The adcomm may welcome letters of recommendation, improved GMAT scores or additional essays/letters from you. Carefully consider your strengths and weaknesses and what may be most beneficial in your situation.

Letter/Essay
If you have recently been promoted at work, have accomplished a personal goal, or have completed an academic class with a strong grade, it may be worth writing a letter to update the admissions committee with your news. Try to keep your essay or letter factual, and do not repeat information that was already included in your original application.

Recommendations
A supplemental recommendation may add information about you to strengthen your position on the waitlist. If you have been involved in an extracurricular activity, know someone associated with the school, or can use a letter to strengthen a part of your application, the letter may be the right direction to proceed in. Make sure your additional recommendation is brief, focused and adds significant additional information to your overall profile.

GMAT scores/Transcripts
Factual information like improved GMAT scores or transcripts from successful business related classes could go a long way towards bolstering your chances.

While the waitlist may be frustrating, it’s a positive indication for your application and you may be fortunate enough to receive final admission from your chosen program. Good luck!

Benefits After Graduation

Tuesday, January 27th, 2009

I am constantly reminded of the benefits of going to a great business school, even after your two years are up.  In my case, I am almost ten years out of Kellogg, 16 years out of Wharton and my husband is 12 years out of Stanford.  Yet there are constant networking opportunities and special events that remind us that an MBA is the gift that keeps on giving!  Saturday was such a night – we attended the Stanford Leading Matters event in Los Angeles.  It was so educational and incredibly inspiring.  We met great people, bumped into people we had not seen in years and just really enjoyed ourselves.   Fun, fun – yet another perk!

Teaching Entrepreneurship

Monday, January 26th, 2009

As you may know, I write for BNET’s Back to B-School blog, in addition to this blog on our Stacy Blackman site.  Today I wrote a more personal post about my experience as an entrepreneur and some initial thoughts about whether entrepreneurship can be taught in an MBA program.  Most schools have entrepreneurship programs, classes, conferences and more.  Many of my clients want to attend a top entrepreneurship program.  I always wonder if being an entrepreneur is a function of book smarts or gut instinct.  I will continue this discussion in later posts.