Stanford to Award Africa MBA Fellowships

The Stanford Africa MBA Fellowship application is now live, and the deadline to apply is June 13, 2014. The Fellowship enables talented African citizens with a passion for making an impact on the continent’s future to …

The Stanford Africa MBA Fellowship application is now live, and the deadline to apply is June 13, 2014. The Fellowship enables talented African citizens with a passion for making an impact on the continent’s future to pursue an MBA at Stanford Graduate School of Business.

What is the Stanford Africa MBA Fellowship Program?
The Fellowship pays for tuition and associated fees for citizens of African countries with financial need. The Fellowship was created to reduce the financial barrier for African citizens to pursue an MBA at Stanford GSB.

Stanford GSB will award up to eight fellowships annually. Within two years of graduation, Stanford Africa MBA Fellows are required to return to Africa to work for at least two years in a role that contributes to the continent’s development.

Promising candidates are encouraged to apply now for the Fellowship. Applicants can find details about the new two-stage application process and timeline on the Stanford GSB website. In the first stage, applicants complete the free Stanford Africa MBA Fellowship pre-application.

Up to 50 finalists will be selected by mid-July 2014 based on financial need, as well as Stanford’s admission criteria of intellectual vitality, demonstrated leadership potential, and personal qualities and contributions.

Finalists then apply for MBA admission (the application will be waived for finalists) to the GSB in Round 1, October 2014. The school plans to enroll up to eight exemplary Stanford Africa Fellows in the MBA Class of 2016.

Why is Stanford GSB providing this fellowship? Africa is at the forefront of significant global economic growth and opportunity. African students provide direct insight into an emerging global economy that will be increasingly powerful in business.

The school hopes that the Stanford Africa MBA Fellowship will encourage talented Africans to leverage the Stanford MBA experience to make a big impact in Africa, executing the GSB’s mission to change lives, change organizations, and change the world.

For More Details:
Stanford Africa MBA Fellowship Webpage 

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Answer Our MBA Survey for a Shot at $100 Amazon Gift Card

2014 could be a life-changing year for you. You may already know that you’ll be headed to business school in the fall, or you might be planning to start your MBA journey in the coming …

2014 could be a life-changing year for you. You may already know that you’ll be headed to business school in the fall, or you might be planning to start your MBA journey in the coming months. Either way, exciting things lie ahead.

All of us here at Stacy Blackman Consulting want to help make your dreams come true by giving you a shot at a top program. Or at the very least, by putting a $100 Amazon gift card in your pocket!

So, here’s the deal. We’re asking for a favor: please fill out our one-minute survey. We know how precious your time is—you’ll only have to “check the box” in response to nine simple MBA-related questions.

Click now to fill it out for a shot at the $100 Amazon gift card—the survey will close on Thursday, April 24.

Thanks for your participation,

The team at Stacy Blackman Consulting

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Free GMAT Flashcards from Magoosh

Studying for the GMAT is no easy feat! It’s a laborious, time-intensive test, and it can be very expensive to prepare for. Ever wish you had affordable and high-quality resources that’d help you along the …

Studying for the GMAT is no easy feat! It’s a laborious, time-intensive test, and it can be very expensive to prepare for. Ever wish you had affordable and high-quality resources that’d help you along the way? Say hello to our friends at Magoosh! They’ve released free flashcards that’ll help you build skills in GMAT math and grammar. You can download them onto your Android or iOS phone, or you can practice them right on your computer.

gmat flash cards

So, if you’re ready to dominate the GMAT, now’s the time to study. Take your pick of free GMAT math flashcards or GMAT idiom flashcards (or both!), and begin!

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Yale SOM Deepens Commitment to Entrepreneurship

Yale School of Management will now be better equipped to meet the needs of entrepreneurially-minded students with the launch of a formal Entrepreneurship Program, announced late last week. Dr. Kyle Jensen has been appointed as …

Yale entrepreneurship

Yale School of Management will now be better equipped to meet the needs of entrepreneurially-minded students with the launch of a formal Entrepreneurship Program, announced late last week.

Dr. Kyle Jensen has been appointed as the inaugural Shanna and Eric Bass ’05 Director of Entrepreneurial Programs. Jensen, who will design and teach courses in entrepreneurship, as well as coordinate and advance a slate of activities in this area, begins his official duties on July 1st.

Yale SOM has also created two new scholarships for students in each entering MBA class. The merit-based awards will be granted on the basis of demonstrated interest in entrepreneurship and future potential as an entrepreneur. In addition, each year Yale SOM will name up to five Entrepreneurial Fellows who, after graduation, will receive two years of loan deferral to enable them to work full-time on a startup.

In the announcement, Yale SOM Dean Edward A. Snyder stressed that the entrepreneurial program build-out will have global dimensions, and said the school is deeply grateful to the donors who have contributed over $7 million to the threshold goal of $12 million for the program build-out.

Snyder says Jensen has exactly the right background for the role, given his experience in tech, healthcare and social sectors, as well as significant academic experience.  Jensen has been working actively with Yale entrepreneurs since 2012, when he joined Yale Entrepreneurial Institute (YEI) as a mentor and entrepreneur-in-residence.

James Boyle, YEI’s managing director, adds,“Kyle is an extraordinary person to lead SOM’s entrepreneurial expansion. His unique combination of operating skills and willingness to roll up his sleeves and build the curriculum and the program will greatly augment Yale’s innovation ecosystem.”

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Should You Hire an MBA Admissions Consultant?

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com With acceptance rates at the most elite business schools ranging from 6.8 to 21.6 percent, a growing number of MBA hopefuls are relying on the …

This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com

With acceptance rates at the most elite business schools ranging from 6.8 to 21.6 percent, a growing number of MBA hopefuls are relying on the services of admissions consultants to help them market their candidacy and stand out amid a sea of equally amazing applicants.

The Graduate Management Admission Council, which administers the GMAT exam, reports that one in five applicants worldwide uses consultants—but a 2013 survey by the Association of International Graduate Admissions Consultants reports that 57 percent of prospective MBAs used an admissions consultant. The majority sought assistance with their essays, resume evaluation and interview preparation. But it is important to recognize some of the pros and cons of working with an MBA admissions consultant, as it might not be the right move for everyone.

[Avoid these three surprising mistakes MBA applicants make.]

I believe a consultant can nearly always help, whether you are a first-time or a repeat business school applicant, whether you are in the dark or more knowledgeable about the admissions process. After all, both beginning athletes and Olympians have coaches.

The one caveat to this situation would be if the admissions committee at the school to which you are applying is heavily focused on numbers, in which case you may not need a consultant to help flesh out things like your essays or interviews.

On the pro side, a consultant offers a trained second pair of eyes to review your material, help steer strategy and provide a sanity check. Many admissions consultants have years of MBA admissions and marketing experience.

Working with a respected consulting team gives you the ability to leverage the database of knowledge of a collected group of experts who together have experience with thousands of clients in programs across the globe. Input from one friend who applied, or even someone who attended the school, provides only a limited snapshot.

A firm with years in the business has perspective on what has worked – and what hasn’t – over time. Any questions or concerns you have about a particular program can be answered in-house, saving you tons of time researching online or trolling business school forums.

There is a lot of information about the MBA admissions process readily available online for free. Blogs like mine offer application advice, school-specific essay tips, and more.

While you can and should take advantage of free online information about the MBA admissions process, some people feel overwhelmed by the sheer amount out there, and the information is not always correct. I believe applicants can do their own research and still benefit from personalized guidance and coaching.

Detractors might argue that if you’re a strong MBA candidate, consulting services will provide little added value because your stats and profile speak for themselves. I disagree, and have seen many cases of stellar candidates who were shocked when they were denied admission to programs that seemed like sure things.

For example, we worked with one Cornell University graduate who had three years of experience in a top investment bank, a high GPA, a high GMAT score, phenomenal extracurriculars and competent writing skills. However, when he came to us he had zero introspection and was unable to look inward to mine his unique and interesting strengths. He definitely belonged in a top program, but the guidance he gained in how to market himself took his application package from generic to compelling.

Cost is the obvious potential drawback of working with an MBA admissions consultant. Fees run anywhere from a few hundred dollars for a la carte editing services to several thousand dollars for comprehensive packages targeting multiple schools.

If you’re not committed to completing the process, it is a huge waste of money. Make sure you’re ready to follow through, and find out if the firm offers any type of financial guarantees if you’re not successful.

One danger of hiring a consultant is that you might rely too much on their expertise, losing your voice and story in the process. Make certain that you’re prepared to partner with the consultant while not letting them take on the whole journey.

[Try these exercises to help MBA applicants develop a personal brand.]

Another complaint of applicants is that their consultant doesn’t devote enough time to them. Before you hire a consultant, ask about usual turnaround times and how many clients get taken on at once. A full-time consultant may be juggling you with 20 other clients, all vying for the same deadline, so ask these questions before you commit.

Some potential clients think hiring a business school consultant means they don’t have to do any work. A good consultant is not an essay-writing service, won’t do the work for you and is not there to agree with whatever the client says.

This type of relationship won’t work for personality types that have difficulty accepting criticism, coaching and input from others. Only invest in a consultant if you’re ready for a true partnership – not if you want a ghostwriter.

Consultants can push you, point out errors and opportunities and help you submit your very best application. But they still need you on the team.

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Stanford, Synonymous with Satisfaction

Super salary doesn’t equal satisfaction, Forbes reveals in its latest ranking of the most satisfied MBA graduates. While Tuck School of Business, the Wharton School, and Chicago Booth alumni typically receive paychecks in the $200,000 …

Stanford MBA ranking

Super salary doesn’t equal satisfaction, Forbes reveals in its latest ranking of the most satisfied MBA graduates. While Tuck School of Business, the Wharton School, and Chicago Booth alumni typically receive paychecks in the $200,000 range,  Forbes says these graduates gave middling marks on job satisfaction. Stanford Graduate School of Business meanwhile takes the number-one spot for the third year running, and also topped Forbes‘s ROI ranking in 2013.

Forbes surveyed 17,000 grads from the Class of 2008 and heard back from 4,600 last year for its biennial b-school ranking. Their methodology considers satisfaction five years after graduation, when students have had time to reflect on their educational experience and how they compare to other MBAs in the workforce.

Ten 10 Schools with the Most Satisfied Graduates

  1. Stanford Graduate School of Business
  2. UC Berkeley Haas School of Business
  3. Carnegie Mellon Tepper School of Business
  4. Michigan State Eli Broad College of Business
  5. Indiana University Kelley School of Business
  6. Dartmouth Tuck School of Business
  7. Duke University Fuqua School of Business
  8. Rice Jones Graduate School of Business
  9. Wisconsin School of Business
  10. Chicago Booth School of Business

Both Stanford and second-place UC Berkeley Haas’s top employers are heavy on consulting and tech led by Google, eBay, McKinsey, BCG and Deloitte. Survey respondents appreciated how their schools helped prepare them for entrepreneurship and form global networks they will leverage throughout their careers.

This story appears in the May 5th issue of Forbes, but you can preview the MBA satisfaction rankings by following the link above.

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