In a recent update to its MBA admissions blog, Stanford Graduate School of Business attempts to ease the concerns of some applicants wondering how the school will view their scores in the GMAT’s brand-new Integrated Reasoning section.

“Rest assured that IR is is new to us, too, and it’s going to take us (and our peer schools) some time before we know how to interpret it as it relates to the Stanford MBA Program,” writes Allison Davis.

According to the Graduate Management Admission Council, which administers the GMAT, the new IR section measures test taker’s problem-solving skills when presented with data in different formats and from multiple sources.

The section is scored on a scale of 1 to 8 in single-digit increments. Like the Analytical Writing Assessment score, IR will be reported as an independent score that does not affect the computation of the GMAT Total Score.

While schools will see your IR score if you’ve taken the new GMAT, Stanford GSB says that for this application year, at least, MBA admissions will focus on the verbal, quantitative, AWA and total scores.

Applicants have plenty of things to juggle and worry about throughout their journey to business school, so don’t lose a wink of sleep over the new Integrated Reasoning section. We’ll have a better idea next year of how the scores play in the evaluation process.

Stanford GSB has published the essay questions for this application cycle, and has maintained the theme of candid self-evaluation and authenticity. The Stanford GSB MBA admissions website provides clear guidance and advice for what to do, and what not to do that all applicants should read and follow. As you approach topics for this set of essays think about the events of your life that have shaped your values and your future plans. Your accomplishments and achievements are part of why you have developed into the person you are today, however it’s far more important to explain your influences, lessons learned and motivations. Introspection and honesty should persist through the entire set of essays.

Total word count for all three essays combined must not exceed 1,600 words, so applicants must be judicious in deciding how much or little to write for each prompt. As a general guideline, Stanford GSB suggests 750 words for essay one; 450 words for essay two; and 400 words for essay three. Check your deadlines before you get started to make sure you are maximizing the time on your essays.

Stanford GSB Essay 1: What matters most to you, and why?

This classic Stanford GSB MBA essay is your opportunity to demonstrate who you are, what motivates you, and why. Topics can range from personal history to grand visions of the future. While this topic should not be explicitly career related (and the strongest essays are likely not career oriented at all) it may raise themes that you will continue in your career essay.
To generate ideas, try brainstorming over a period of a few days. Ask friends and family what values they see you demonstrating in your life and choices. Keep a notebook by your bed so you can record your first thoughts upon waking up, and mine your personal history for ideas.
Though the essay question may seem open-ended, answering the question with vivid and specific examples will provide solid evidence that you have demonstrated or experienced “what matters most” throughout your life. Keep in mind as you select examples that Stanford GSB specifically advises focusing on people and experiences that have influenced you, rather than accomplishments or achievements.

Stanford GSB Essay 2: What do you want to do—REALLY—and why Stanford?

We’ve observed that in these economic times plenty of candidates are content to be conservative about their dreams. For Stanford that approach may backfire. Stanford likes to see applicants who dream big, and have the credibility to achieve their goals.
So think hard about what you REALLY want to do. Not what your parents or partner want you to do. Not what your boss wants you to do. Not what you think an MBA program wants to hear. What do you, with your own unique background and values, want for your life?
If the question seems too vast, take a few minutes to close your eyes and reflect. Envision your life in twenty years. Where do you live? How do you spend your days? What is your favorite activity? How does this vision fit into your career aspirations? Dream big about what two years at Stanford can bring into your life. Once you have identified your dream career, you also need to make sure an MBA is an important part of achieving your plans. Stanford wants candidates whose MBA will make an impact on the career they REALLY want, not candidates who are looking for a prestigious piece of paper. Remember that MBA programs want to help promising candidates reach their goals, not admit perfect people who will not learn from the two years in school.
One thing that is crucial “not to do” is be less than specific about why Stanford. You should know everything about the program that overlaps with your interests and aspirations. Have you met current students and alumni? Who are the professors you are excited about? What are the unique programs? Stanford GSB wants to know what you specifically need that will be uniquely satisfied by the program at Stanford GSB, and research will help you determine the specifics of the academic program, community and students will be essential to demonstrating your knowledge and fit with the program.

Essay 3: Answer one of the three questions below. Tell us not only what you did but also how you did it.
What was the outcome? How did people respond? Only describe experiences that have occurred during the last three years.

Choose strategically here. What aspects of your background or career progress have not be highlighted in the previous two essays? Is there a community service involvement you would like to demonstrate? All examples must be from the past three years, and it is important to clearly describe your process and results. HOW is the key word for these two essays. By asking specifically about your behavior, the admissions committee hopes to understand your motivations by clearly “seeing” your actions.

Option A: Tell us about a time in the last three years when you built or developed a team whose performance exceeded expectations.

If you have formally led a team at work, this is an ideal essay to highlight your management experience. Most candidates for Stanford have little formal management or leadership experience. In that case, think about the times you have served informally as a leader. Perhaps you led a team as part of a project at work. If work did not provide an opportunity for you to lead a team, consider an example in your volunteer or extracurricular activities.
Whatever the situation, describe what happened and your role in the performance of the team. In addition to clear description, explain what the expectations were for the team and how your team exceeded them. Be as specific as you can about the how: what were you thinking and doing as you built or developing the team?

Option B: Tell us about a time in the last three years when you identified and pursued an opportunity to improve an organization.

While formal management experience may be less common if you’ve only worked for a few years, improving an organization is something that is possible with any job description. Think about the times that you have seen a problem and proactively solved it. Did you create a new initiative that involves many others? Have you impacted the culture or operations of your organization through an idea or by developing your team? Think about actions you have taken that may have lead to a fundamental shift in the way things are done or perceived within your company or organization.

Option C: Tell us about a time in the last three years when you went beyond what was defined or established.

The topic of this essay can be from almost any area of your life. It will be helpful to give the context around what was defined or established to clearly demonstrate how you went beyond. Why and how did you achieve results beyond expectations? This topic could be similar to Option A in scope, yet is focused on your individual achievement rather than directing a team’s actions.

As you put together your Stanford GSB application it will be helpful to read all of the essays together (and have others read them) to see the overall impression. It should be clear what your underlying motivations are, what you hope do you with your career, and how you operate as an individual and in a team within an organization. As Stanford GSB clearly requests, the best essays will illuminate your individual voice clear and strong.

Stanford Graduate School of Business has posted the essay questions for the 2012-2013 full-time MBA application cycle. The goal with these prompts is to get to know who you really are, in your own words.

The three essays are:

Essay 1: What matters most to you, and why?

• The best examples of Essay 1 reflect the process of self-examination that you have undertaken to write them.
• They give us a vivid and genuine image of who you are—and they also convey how you became the person you are.
• They do not focus merely on what you’ve done or accomplished. Instead, they share with us the values, experiences, and lessons that have shaped your perspectives.
• They are written from the heart and address not only a person, situation, or event, but also how that person, situation, or event has influenced your life.

Essay 2: What do you want to do—REALLY—and why Stanford?

Use this essay to explain your view of your future, not to repeat accomplishments from your past.

You should address two distinct topics:

• your career aspirations
• and your rationale for earning your MBA at Stanford, in particular.

The best examples of Essay 2 express your passions or focused interests, explain why you have decided to pursue graduate education in management,  and demonstrate your desire to take advantage of the opportunities that are distinctive to the Stanford MBA Program.

Essay 3: Answer one of the three questions below. Tell us not only what you did but also how you did it. What was the outcome? How did people respond? Only describe experiences that have occurred during the last three years.

• Option A: Tell us about a time in the last three years when you built or developed a team whose performance exceeded expectations.
• Option B: Tell us about a time in the last three years when you identified and pursued an opportunity to improve an organization.
• Option C: Tell us about a time in the last three years when you went beyond what was defined or established.

Total word count for all three essays combined must not exceed 1,600 words, so applicants must be judicious in deciding how much or little to write for each prompt. As a general guideline, Stanford GSB suggests 750 words for essay one; 450 words for essay two; and 400 words for essay three.

For more information about the Stanford Graduate School of Business application, visit the program website. Stay tuned for Stacy Blackman’s tips on navigating these essay prompts, coming soon!

It’s the debate that never dies: Is pursuing an MBA degree is a waste of time if you plan to start your own business? As someone who has started more than one successful enterprise, I say no, and can personally attest to having leveraged a lot of my MBA classes and resources into my business ventures.

In “The Rise of the MBA Entrepreneur,” published last week by Reuters,  several top-tier MBA programs note that classes and centers devoted to entrepreneurship are on the rise, with roughly 5% of full-time 2011 business school students  founding their own companies right after graduation and notable jumps at places like the Wharton School, Stanford Graduate School of Business and MIT Sloan School of Management.

Despite the increased institutional support, many representatives from the career services office are more circumspect in their approach, Reuters reveals, as they advise students to get a high-paying job after graduation and postpone the entrepreneurial dream until the loans are paid off.

Even at Babson College, which has a top-ranked MBA program focused on entrepreneurship, prudence is prized. “Quite frankly, we do encourage students in general to learn on someone else’s nickel before taking the plunge,” says Janet Strimaitis, managing director of Babon’s Arthur M. Blank Center for Entrepreneurship.

But does that cautious attitude run counter to the entrepreneurial spirit? Chika Ekeji, an entrepreneur who dropped out of the full-time MBA program at MIT Sloan as soon as he got the right idea and team together, believes that advice is traditional and probably pragmatic. “But I actually believe that if the only thing keeping you from starting a company is paying off your student loans, then you should start your company,” Ekeji says.

The article also points out two interesting factors contributing to the recent uptick in entrepreneurship interest: economic trends and a generational shift. With the 2000 dot-com bubble, everyone wanted to be an entrepreneur, says Joaquin Villarreal, manager of the Entrepreneurship Initiative at the Tuck School of Business. When that burst, he notes that suddenly everyone wanted to be a banker.

Meanwhile, the millennial generation has suddenly become old enough to pursue an MBA, and this group is “known for an overblown sense of self-worth and propensity to dream big”–says Maria Halpern, Director of Student Engagement for Wharton’s career management services, making entrepreneurship a perfect career fit.

Whether you fall into the camp of nature or nurture as it relates to entrepreneurship, I think most people would agree that an entrepreneur needs to know the same basic skills as someone running a more established company. After all, every company began as a startup, launched by an entrepreneur.

If anything, you need to know all of the basics as opposed to specializing in one area. My advice to current and prospective MBA students interested in entrepreneurship is to pay close attention in all of your classes—even in the areas you plan to outsource as soon as you have the budget.

*Please note that no client details are ever shared in SBC Scoop or otherwise without complete sign off from client.

Our client Natasha wanted to apply to Stanford, her dream school, but was intimidated by the acceptance rate below 10%. When she initially met with us to talk about her candidacy, she wanted to find schools that she felt more comfortable attempting. Though Stanford is a reach school for most candidates, we advised Natasha that it was worth aiming high for Stanford, as part of a strategy that included other schools that might be more realistic.

In Natasha’s case she overestimated her competition and underestimated herself. Natasha had an interesting career as an international banking associate working in the oil and gas industry across Russia and the Middle East. Her experience was diverse, and fed directly into her future career goal to expand alternative energy solutions while partnering with governments around the world. Natasha’s academic credentials were stellar, with a 3.7 GPA and 730 GMAT and she had a long list of volunteer service projects both during undergrad and beyond. In short, Natasha was exactly the kind of well-rounded and interesting candidate a school like Stanford likes to admit.

In discussing Natasha’s misgivings about aiming for a school like Stanford, she expressed that the competition must be very stiff and she imagined Princeton grads with Goldman Sachs pedigrees as the ideal candidate for the top tier programs. While certainly those candidates are part of the pool and can offer compelling cases for admission, there is no such thing as a “perfect” MBA applicant. Women applicants, in particular, often downplay their strengths and ability to perform in an MBA environment. Self-awareness is a key attribute of successful business leaders, but the ability to take a chance and aim for a long shot can also bring results.

In the end Natasha was admitted to Stanford, as well as INSEAD and Chicago. She told us that even without such amazing results, she was glad that she had not rejected herself from her “dream school” before the school had a chance to make a decision on her admission.

The Stanford Graduate School of Business has just announced that registration is now open for two events that can help you learn more about the Stanford MBA program.

The Many Voices: Perspectives on Diversity event is hosted by the Stanford MBA Admissions Office with participation from the Black Business Students Association (BBSA), Hispanic Business Students Association (HBSA), GSB Pride (the student club for LGBT students and allies), and the Asian Society (AS).

XX Factor: Women Changing the World is an event geared towards women who are considering applying to business school.

Both of these events include an overview of the program, a class immersion experience, and opportunities to hear from Stanford GSB students, alumni, faculty, and staff. Space is limited, so you must complete a brief application if you’d like to attend.

Derrick Bolton, Assistant Dean for MBA Admissions at Stanford GSB, shares a few thoughts on how Stanford regards diversity, and why and how it matters in the admission process.

“At Stanford we believe the way you think is much more important than the way you look,” he writes, in an effort to dispel the notion that there is a “Stanford type”—in experience, essays, etc.—when in fact there is no such model.

“Stanford has no ideal background, aspiration, format, etc.—regardless of what you may hear from individuals claiming to have “inside knowledge” of admission processes,” Bolton notes.

“The best applications we see each year are those that do not begin with the goal of impressing us,” he writes. Staying true to your experiences and accomplishments, sharing your insights and aspirations—this is the key to crafting a successful application to the Stanford GSB.

For more Stanford advice, including essay tips from the Stacy Blackman team, please follow this link.