Tag Archives: Wharton School
May 4, 2016
Just what is Big Data? And how is it used to make real business decisions? Anyone interested in the burgeoning field of business analytics should check out this story in the Wall Street Journal on how the Wharton School at University of Pennsylvania is expanding its offerings in this area and will now offer an MBA major in the subject.
The move comes as fewer students head to b-school with a career in finance in mind after graduation. According to the WSJ, 306 students in Wharton’s 2008 MBA class entered the financial-services industry right after graduation; last year, the school reports that number was 219.
While many professionals understand the technical side of business analytics, they don’t know precisely how to frame their business strategy. Companies need people who can also understand the business side and offer data-based solutions.
Wharton Professor Adam Grant tells WSJ that the strengthened focus on analytics will train students in rigorous thinking and decision-making based on large data sets, rather than the isolated scenarios students encounter in a case study.
“We want to create a hub where evidence-based management is the norm rather than the exception,” says Grant.
But Wharton isn’t the only elite business school upping its Big Data game. NYU Stern School of Business and USC Marshall School of Business also offer specialist masters courses in business analytics.
In March, MIT Sloan School of Management announced the launch of a new, specialized Master of Business Analytics program designed to prepare students for careers in business analytics. The inaugural class will enter MIT Sloan in fall 2016.
“The professional opportunities for our graduates will be extensive,” says MIT Sloan Professor Dimitris Bertsimas, the co-director of the MIT Operations Research Center. “Companies from IBM to Dell to Amazon to Google are collectively investing billions of dollars in data collection to build models that help them make better, more informed decisions. This is a transformational moment in business and management science.”
Wharton administrators, meanwhile, have said the school has no plans to create a separate degree program, and aims instead to further integrate analytics content into its full-time MBA program.
April 20, 2016
The University of Pennsylvania’s Wharton School has announced the “Great Eight” finalists who will compete for over $125,000 in prizes at the Wharton Business Plan Competition Venture Finals coming up on Thursday, April 28, 2016. …
The University of Pennsylvania’s Wharton School has announced the “Great Eight” finalists who will compete for over $125,000 in prizes at the Wharton Business Plan Competition Venture Finals coming up on Thursday, April 28, 2016.
The Wharton Business Plan Competition “Great Eight” finalists are:
- Barn Owl Systems For livestock ranchers who spend significant time and money monitoring resources over large areas, Barn Owl provides drone hardware and software for autonomous data gathering.
- BioCellection Inc. BioCellection upcycles unrecyclable plastic waste into valuable compound rhamnolipid for textiles using genetically engineered bacteria. This invention has the potential to clean plastic pollution around the world, disrupt the textiles industry, and grow into a $100MM business in 5 years.
- brEDcrumb brEDcrumb is the only college admission consulting platform that provides free, one-on-one, college mentoring online. The startup connects underserved high schoolers with undergraduates or recent graduates who have shared backgrounds.
- Daylight OB, LLC Daylight OB, LLC is a medical device company developing technologies to improve health and safety in labor & delivery units. The firm’s first product, now in development, is a disposable obstetrics device, called Daylight, used to elevate a baby’s head to enable a safer, faster, and easier urgent cesarean section delivery.
- Our Frontier Crowd Our Frontier Crowd is the premiere residential real estate platform dedicated to investment opportunities in Africa. The startup’s technology harnesses the insights of the crowd to connect African real estate developers and potential home buyers with foreign investors.
- Qorum, Inc. Qorum is a mobile app providing discerning millennials a curated list of quality bars. After enjoying their final beverage, users hail a free ride home through the app.
- QTEK The QTEK team offers Surfion, a durable, safe, and effective chemical additive that could make any surface antibacterial and antifungal. Surfion will not wash off or wear away; it will provide continuous self-decontamination protection over the lifetime of myriad products.
- WeTrain WeTrain is a proud Veteran-owned, fitness-technology company building the “Uber of Personal Training.” Every day, 700,000 training sessions are conducted in the US. Using a specially designed application, members request trainers for affordable sessions ($17/half hour or $25/full hour) while trainers receive 30% more compensation than typical gyms.
The competition is open to any University of Pennsylvania student and is managed by Wharton Entrepreneurship. The eight finalist teams face off at the Venture Finals with 20-minute presentations to judges drawn from the business and venture capital community, who will then evaluate the persuasiveness and viability of each venture.
Venture Finals BPC judges are:
- David Cohen (PAR’14/PAR’16/PAR’17), CEO, Chief Investment Officer and Co-founder, Karlin Asset Management, Inc.
- Carol Curley (WG’81), Managing Director, Golden Seeds
- Marc Lore (Wharton alum), Founder and CEO, Jet.com
- Richard Perlman (W’68), Founder & Executive Chairman, ExamWorks Group, Inc.
- Stephen Tang (WG’92), President and CEO, University City Science Center
- Tracey Weber (WG’95), Strategic Advisor, Gilt and Hudson’s Bay Company
Students will receive up to $128,500 in cash prizes and in-kind awards including the $30,000 Perlman Grand Prize, which is made possible by the generosity of Ellen Hanson Perlman and Richard E. Perlman (W’68). The event annually attracts over 200 entrepreneurs, venture capitalists, investment bankers, alumni, faculty and students.
image credit: Wharton School
April 13, 2016
This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com Business school graduates benefit not only from a solid return on investment through substantial salary increases, but also by deepening the knowledge, skills …
This post originally appeared on Stacy’s “Strictly Business” MBA Blog on U.S.News.com
Business school graduates benefit not only from a solid return on investment through substantial salary increases, but also by deepening the knowledge, skills and abilities they will need for future professional success.
Here are just four of the key career benefits MBA programs can offer.
1. Transferable skills: Business school gives you new skills and knowledge that will turbocharge your career. While MBA students often set their sights on a job in finance or consulting, the hard and soft skills acquired during an MBA program are transferable to myriad other roles. Today, you’ll find an increasing number of MBAs working in tech, health care, consumer goods, government and nonprofits, and many other industries.
The skills typically strengthened during an MBA – leadership, intellectual creativity, analysis and critical thinking, cross-cultural awareness, communication, even greater IT mastery – will serve you well as you find your way toward your ultimate career goal.
You may start out at a financial firm such as Morgan Stanley and learn a tremendous amount about banking and analysis before deciding that it’s not a good fit, as happened with my client, May. She built upon those skills when she eventually became involved with running a business as a gourmet food importer. Once you have a deeper understanding of the complexities of the business world, those problem-solving skills mastered during your MBA will carry over to your next position, and the one after that, too.
2. Higher employment rates: Having an MBA is a powerful tool that can increase job security with your current employer or within your current industry. When the Graduate Management Admission Council released its latest annual poll of employers, it forecasted robust 2016 hiring that reflects high demand for MBA graduates. A whopping 96 percent of responding employers agreed that hiring business school graduates creates value for their companies.
The MBA degree is also a powerful differentiator in a crowded marketplace. Recruiters have said that some of their corporate clients will not consider any candidate without an MBA, which shows just how much business leaders value this qualification. Employers believe it vets potential hires; you can safely assume an MBA graduate from Harvard Business School or the Wharton School at University of Pennsylvania is going to bring considerable skills and business acumen to the job from day one.
Without a doubt, companies appreciate managers who have risen through the ranks, know the business inside and out and can get the job done. But they also like hiring MBAs for their ability to handle complex situations, be nimble and adapt in the face of a rapidly changing global environment. As outsiders, MBA hires can provide a broad or fresh perspective to see how to improve inefficiencies or come up with innovative solutions to business problems.
3. Degree specializations: Most MBA programs offer specializations or concentrations that allow you to do a deep dive into the nuances of a particular industry. These courses provide students with an opportunity to sample a few different industries or career paths to see whether it’s a good fit before taking the plunge.
Adding a concentration to an MBA is a good move for people who know exactly what they want to do with their career and who want to build a stronger skill base in that area. If you already know that you’re interested in something really specific, such as digital marketing, real estate, business analytics, social innovation, health care and so forth, earning an MBA with a concentration can make you even more marketable.
In today’s competitive job market, listing a concentration on your resume helps you stand out. However, if you are a career switcher and still testing the waters, you would be better off focusing on a general business education instead.
4. Networking opportunities: At business school, you’ll interact closely with talented individuals from all over the globe, which enhances the experience by exposing you to different business practices, cultures and points of view.
The connections you make are, for many, the single most valuable aspect of the MBA, so make sure you capitalize on the opportunities in and out of the classroom during your MBA studies. Your alumni network helps you stay connected to the university as well as to countless professional opportunities you can tap into throughout your career.
While the quality of the education at the most elite programs is guaranteed across the board, when you’re spending two years of your life and paying more than $100,000, it’s the network of contacts you build that make your MBA experience truly priceless.
Image credit: e3Learning (CC BY-ND 2.0)
March 23, 2016
“Focusing on creating flexible, adept leaders is critical for business schools to continue attracting top talent,” says Glenn Hubbard, Dean of Columbia Business School. This underlying sentiment will serve as the foundation for a landmark …
March 16, 2016
U.S. News & World Report today released the 2017 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment. In the full-time MBA …
U.S. News & World Report today released the 2017 Best Graduate Schools rankings, designed to help prospective students research programs across six disciplines and evaluate the potential return on their investment.
In the full-time MBA rankings, Harvard University is the No. 1 program in the country. The University of Chicago—Booth moves up two places to tie with Stanford Graduate School of Business at No. 2. This is Booth’s highest placement ever in this list, and the first time in seven years that Stanford GSB has been knocked out of the first place ranking held either on its own or tied with another school.
Yale School of Management, meanwhile, has achieved its highest ranking ever on this list, tied for eighth place with Dartmouth’s Tuck School after finishing at No. 13 last year. For anyone wondering what happened to NYU Stern School of Business, which ranks 20th this year, according to a blog post by US News’s rankings guru Bob Morse, it’s because Stern did not provide complete data in time for use in calculating the rankings.
Among part-time MBA programs, the Haas School of Business at the University of California—Berkeley remains No. 1, Chicago Booth comes in second, Kellogg School of Management is No. 3, UCLA Anderson School of Management is No. 4, and Michigan Ross School of Business rounds out the top five.
The six graduate disciplines U.S. News ranks annually are evaluated on factors such as employment rates for graduates, starting salary and standardized test scores of newly enrolled students. Because each graduate program is different, the rankings methodology varies across disciplines.
Different output measures are available for different fields, U.S. News explains, saying that in business, they use starting salaries and the ability of new MBAs to find jobs upon graduation or three months later.
“Going to graduate school is a major commitment of time and money,” said Anita Narayan, managing editor of Education at U.S. News. “Our rankings and advice offer guidance throughout the decision-making process to help prospective students and their families find the right fit.”
Image credit: Michael A. Herzog (CC BY-ND 2.0)
February 4, 2016
The University of Pennsylvania’s Wharton School has received a $10 million commitment from alumna Anne Welsh McNulty that will drive the global reach of the current Wharton Leadership Program and build on its 20-plus years …
The University of Pennsylvania’s Wharton School has received a $10 million commitment from alumna Anne Welsh McNulty that will drive the global reach of the current Wharton Leadership Program and build on its 20-plus years of innovation and impact in leadership development.
In recognition of this transformative gift, the Wharton Leadership Program will be renamed the Anne and John McNulty Leadership Program at the Wharton School, memorializing John’s legacy of impact and both John and Anne’s passion for preparing individuals to lead in their fields and communities.
The program will continue to provide a holistic approach to coursework, coaching, mentoring, and experiential learning for students of all ages. It will also provide them with the necessary tools to adapt their leadership styles through action, reflection, and experience, and to become global leaders of diverse workforces.
“I believe in the transformative power of developing each individual’s leadership capacity. Wharton’s Leadership Program is uniquely poised to make a real impact that will multiply from its students to businesses and communities and beyond,” says McNulty.
“Wharton was a turning point in our lives,” Anne says, reflecting on her and John’s experience at the school. “It challenged us to think differently and taught us to be more thoughtful and more ambitious. Our time at Wharton motivated us to be active leaders, not only in running businesses, but also in our communities. It is a pleasure for me to support future students so that they may have a similar experience, so that they may reach their potential, and so that they may change the world through the lessons they learn at Wharton.”
Learn more about John and Anne McNulty, and how this new investment will accelerate Wharton’s leadership development initiatives, here.