Thursday, March 24, 2011
Saturday, March 12, 2011
Obama dinner guest - Steve Westly of Westly Group Discusses Investments, Tesla, UC system, Jobs
Steve Westly – Managing Partner
steve.westly(at)westlygroup.com
Prior to founding The Westly Group, Steve Westly served as the Controller and Chief Fiscal Officer of the state of California – the world’s eighth largest economy. As Controller, he chaired the State Lands Commission and served on 63 other boards and commissions, including CalPERS and CalSTRS, the nation’s two largest public pension funds, which together invest more than $350 billion. During his four-year term, Mr. Westly spearheaded innovative tax programs that helped close the State’s budget deficit and also led an effort to commit more than $1 billion to clean technology investments.
In the 2008 election cycle Mr. Westly served as a California co-chair and a National Finance Committee member of the Obama for America campaign. He currently serves on the Secretary of Energy’s Advisory Board as a representative for the venture capital industry.
Before running for office, Mr. Westly helped guide the online auction company eBay through its period of most rapid growth, serving as the Senior Vice President of Marketing, Business Development, M&A and International. Mr. Westly helped bring eBay to Europe and Asia and developed the marketing and acquisition strategies that paved the path for the firm’s exponential growth.
Mr. Westly began his career in Washington, D.C., where he worked first on Capitol Hill and later in the Office of Conservation and Solar at the U.S. Department of Energy. Mr. Westly returned to California to become special assistant to the President of the California Public Utilities Commission. While there, he published two books on alternative energy and the utilities.
Mr. Westly holds a bachelor’s degree from Stanford University and an MBA from Stanford’s Graduate School of Business, where he served on the faculty for five years.
Wednesday, March 9, 2011
Friday, March 4, 2011
Wednesday, March 2, 2011
Saturday, September 18, 2010
…the 25-year-old Russian model with piercing green eyes and a 24-inch waist, struts into class, her fellow students at Harvard Business School snap up from their laptops. The 5-foot-8 stunner, who loves labels like Chanel and Yves Saint Laurent, stands out in a sea of crew-cut, khaki-wearing nerds. After graduating from Wellesley in 2007, the beauty from Moscow logged two grueling years working at Goldman Sachs. “I really gave it a shot,” she sighs. Upon realizing that finance wasn’t for her, she enrolled at HBS for an unlikely reason—to get a leg up in the fashion world. She spent this past summer in a coveted internship with Chanel’s marketing department in New York and hopes to score a plum job in fashion after graduating in 2011.
And Olga’s not just some sort of freak accident. Apparently there are lots of Olga’s running around campus.
They are a growing breed of well-groomed, well-heeled women who know as much about modern capital markets as they do about hemlines; who strive to work in chic lofts in Dumbo rather than a trading floor on Wall Street; and who claim that forgoing a “serious” career as an i-banker to hawk beauty products and designer dresses marks them as a new breed of feminist. With their perfectly blow-dried locks and lip-glossed smiles, these women lend a new glamour to the fusty business school, famed for churning out financial eggheads like Michael Bloomberg, JP Morgan Chase CEO Jamie Dimon and ex-Merrill Lynch CEO John Thain.
Friday, March 27, 2009
Wednesday, January 21, 2009
harubs: Is HBS Really That Diverse?
"On the face of it, HBS appears extremely diverse. But how truly diverse is HBS, anyhow?
During my first week at HBS, I was amazed at how many people I had met from all around the world. Prior classmates cautioned that I would enter the "most diverse place I would ever encounter," and my initial interactions with students seemed to confirm this.
But now in my third year at HBS, the allure has faded.
HBS really is not the diverse, all-encompassing melting pot that many purport it to be.
There is a world outside the HBS bubble and believe it or not, the world looks nothing like HBS. We must be realistic about our diversity if we are serious about making a difference in the world. Otherwise, we're just fooling ourselves.
Upon some reflection, I'd like to present several areas where HBS lacks diversity.
Economic diversity
Although some may deny it, HBS students are highly privileged. This is no secret and although there may be instances where a student grew up in low-income or humble circumstances, this is more the exception than the rule. Let me provide two short examples to illustrate this point.
Example 1
One Western Avenue garage, where there is no shortage of imports and German engineering. During my first year at HBS, I was especially surprised to discover an Aston Martin in the underground student parking garage. Thinking it was just a visitor in the Executive Education program, I did not think much of it until I discovered that the car belonged to a student from Spain! In fact, two of my very own international section mates purchased cars upon arrival to HBS, both in cash of course.
Example 2
Whenever I meet someone from Houston, one of the first things that comes up is where we grew up. Nine times out of ten, the HBS student in question answers that he/she grew up in a wealthy suburb or a wealthy pocket of central Houston. Of course, they also attended prestigious high schools that cost more than the average college/university. This does not occur only in Houston but also in other cities where HBS students call home.
This disparity in upbringing is especially accentuated amongst our international students. As a friend of mine once said of HBS, "the only middle class kids are the Americans."
Geographic diversity
The HBS class profile shows that approximately 35% of students are 'international,' which sounds like a pretty significant percentage of the student body. I must admit, the accents and well-traveled HBS crowd was very enticing during the initial weeks of my RC year.
After a few months, however, the stark reality of the 'international' crowd hit me square in the face. Soon, I realized an individual's country of origin had little to do with his or her mentality, belief systems, and outlook on life. Many of the students I met from the 'developing world,' for instance, had not actually lived in their home countries since high school. Instead, these 'international' students went to boarding school in the U.S., then an Ivy League, then worked in Manhattan, then applied to HBS.
There is nothing wrong with going to school and working abroad (personally, I did just that on three separate occasions), but the reality is that a student's country of birth does not actually mean he or she represents a particular country. I still recall to this day how at least 3 or 4 students in my section were cold-called throughout our BGIE course to represent a particular country or region, despite having little current knowledge of the particular issue under discussion.
Intra-group diversity
Despite representation from various regions of the world, the intra-group diversity of particular regions is quite low. Among students from Asia, for example, a class card search reveals only one student that lists Indonesia as his home country. This is despite the fact that Indonesia is the fourth largest country in the world behind China, India and the United States.
As another example, many comment that South Asians are over-represented at HBS. Only two students call Bangladesh home, however, despite it being the seventh most populous country in the world with over 150M inhabitants.
Interestingly, all three of the students mentioned above went to college in the United States (please reference the geographic diversity section above). "
During my first week at HBS, I was amazed at how many people I had met from all around the world. Prior classmates cautioned that I would enter the "most diverse place I would ever encounter," and my initial interactions with students seemed to confirm this.
But now in my third year at HBS, the allure has faded.
HBS really is not the diverse, all-encompassing melting pot that many purport it to be.
There is a world outside the HBS bubble and believe it or not, the world looks nothing like HBS. We must be realistic about our diversity if we are serious about making a difference in the world. Otherwise, we're just fooling ourselves.
Upon some reflection, I'd like to present several areas where HBS lacks diversity.
Economic diversity
Although some may deny it, HBS students are highly privileged. This is no secret and although there may be instances where a student grew up in low-income or humble circumstances, this is more the exception than the rule. Let me provide two short examples to illustrate this point.
Example 1
One Western Avenue garage, where there is no shortage of imports and German engineering. During my first year at HBS, I was especially surprised to discover an Aston Martin in the underground student parking garage. Thinking it was just a visitor in the Executive Education program, I did not think much of it until I discovered that the car belonged to a student from Spain! In fact, two of my very own international section mates purchased cars upon arrival to HBS, both in cash of course.
Example 2
Whenever I meet someone from Houston, one of the first things that comes up is where we grew up. Nine times out of ten, the HBS student in question answers that he/she grew up in a wealthy suburb or a wealthy pocket of central Houston. Of course, they also attended prestigious high schools that cost more than the average college/university. This does not occur only in Houston but also in other cities where HBS students call home.
This disparity in upbringing is especially accentuated amongst our international students. As a friend of mine once said of HBS, "the only middle class kids are the Americans."
Geographic diversity
The HBS class profile shows that approximately 35% of students are 'international,' which sounds like a pretty significant percentage of the student body. I must admit, the accents and well-traveled HBS crowd was very enticing during the initial weeks of my RC year.
After a few months, however, the stark reality of the 'international' crowd hit me square in the face. Soon, I realized an individual's country of origin had little to do with his or her mentality, belief systems, and outlook on life. Many of the students I met from the 'developing world,' for instance, had not actually lived in their home countries since high school. Instead, these 'international' students went to boarding school in the U.S., then an Ivy League, then worked in Manhattan, then applied to HBS.
There is nothing wrong with going to school and working abroad (personally, I did just that on three separate occasions), but the reality is that a student's country of birth does not actually mean he or she represents a particular country. I still recall to this day how at least 3 or 4 students in my section were cold-called throughout our BGIE course to represent a particular country or region, despite having little current knowledge of the particular issue under discussion.
Intra-group diversity
Despite representation from various regions of the world, the intra-group diversity of particular regions is quite low. Among students from Asia, for example, a class card search reveals only one student that lists Indonesia as his home country. This is despite the fact that Indonesia is the fourth largest country in the world behind China, India and the United States.
As another example, many comment that South Asians are over-represented at HBS. Only two students call Bangladesh home, however, despite it being the seventh most populous country in the world with over 150M inhabitants.
Interestingly, all three of the students mentioned above went to college in the United States (please reference the geographic diversity section above). "
Tuesday, January 13, 2009
Dirty Secrets of College Admissions
Dirty Secrets of College Admissions
by Kathleen Kingsbury
In a Daily Beast exclusive, college admissions officers reveal just how whimsical the selection process can be. Boring math geniuses, oboe-playing poets, and rich kids from New York need not apply.While you’re anxiously mailing off those college applications this week, you might want to recalibrate your expectations based on your race, your wealth, and whether the NFL team in the city where that college is located is on a losing streak. The shadowy world of college admissions has left millions of confused and frustrated rejects in its wake. (So stop practicing the oboe.) Current and former admissions officers from colleges and universities across the country talked to the Daily Beast about why attending a good high school can hurt your chances, the perils of too many recommendations, and why white girls from Jersey barely have a chance.On the arbitrary nature of admissions Former admissions officer at elite, small liberal arts college in the Northeast, age 25 “One year I had a student with a near-perfect SAT score and straight A’s. I’d originally put him in the submitted pile, but then we had to reduce the list. I reread his essays and frankly, they were just a little more boring than the other kids. So I cut him. Boring was the only justification that I needed and he was out.One night, I got food poisoning at a restaurant in Buffalo. The next day, I rejected all the Buffalo applications.I got sluggish in the afternoon after lunch, so maybe I wasn’t as scrupulous about a candidate as I would have been if I were fresh. Or even if my favorite sports team was in a slump, it affected who made the cut. If the [Pittsburgh] Steelers lost a game and I read your file the next morning, chances were you weren’t getting in. Where I could have been nice, I just didn’t go out of my way — I was a lot less charitable. Those are things that you, the applicant, have no control over. Which makes it all the more funny — the frenzy that parents and students work themselves into around getting in.”Current admissions officer, state university in the Northeast “All in all, we’re less selective than some of the elite schools or the Ivy League. But there are still some factors out of an applicant’s hands. One night, I got food poisoning at a restaurant in Buffalo. The next day, I rejected all the Buffalo applications. I couldn’t stomach reading them.”Current admissions officer, Ivy League university “Some 70 percent of kids who apply are qualified to come to school here, and we have space for one in ten. We can be as choosy as we like. It almost always comes down to whether or not you’re a likeable person. Let’s face it, some people are just more affable or more likeable than others. An admissions officer is really asking himself, ‘Would I like to hang out with this guy or gal for the next four years?’ So if you come off as just another Asian math genius with no personality, then it’s going to be tough for you. An admissions officer is not going to push very hard for you.”Former admissions officer, Ivy League university “Some middle-tier schools will reject top applicants, too — Kids that should have no trouble getting in. But the admissions officer’s attitude is, ‘Oh, he just applied here as a safety. He’ll never come.’ They don’t want to lower the yield they have to report for the college rankings.”Joie Jager-Hyman, former admissions officer at Dartmouth College, author of Fat Envelope Frenzy: One Year, Five Promising Students, and the Pursuit of the Ivy League Prize“People tend to like people like themselves. I could almost predict the application files my colleagues would support: this admissions officer likes the athletes; this one prefers the quiet, creative loner type; one person cared a lot about SATs; or another would be more likely to excuse things like teenage arrests than other colleagues.”On advantages in the admissions process Current admissions officer, Ivy League university “Any admissions director who uses the line about needing an oboe player is lying. There’s no admissions person in the country with a clue what the student orchestra needs. More likely, Mommy and Daddy gave a $1 million donation. That oboe thing is just a PR ploy.”Former admissions officer, Ivy League university “Of course there are files every year that the dean simply says aren’t debatable. It’s pretty easy to Google those kids and see Daddy is a U.S. Senator or gave the university $7 million. But it really takes paying for a building or endowing a chair to have that kind of privilege. Only about 70 percent of the other VIP kids get in, because it can be equally embarrassing if some big celebrity’s son fails out or gets arrested on campus. There have to be some standards.”Former admissions officer, elite, small liberal arts college in Massachusetts “Our school did away with on-campus interviews a few years ago, but if you were the child of a donor or an alum, you could get an unofficial interview. A face-to-face sit-down with the admissions office most people don’t get.Athletes’ applications at most schools go through a special committee. They’re read before all the other candidates’ files. That way the coach can push for the people he really wants and make sure they get a spot.We were always looking for candidates from underrepresented groups. So if you are just a typical white girl from New Jersey and your application didn’t pass muster, it was relegated to the reject pile without a second thought. With a minority kid with the same stats, you just can’t do that. They always warrant a second or even third look.”Michele Hernandez, nationally known private college admissions consultant located in Vermont. Author of the book A is Admissions: The Insider's Guide to Getting into the Ivy League and Other Top Colleges and former admissions officer at Dartmouth College“40 percent of every Ivy League school is filled up with special cases: athletes, minorities, low-income, legacies or development cases. They’re tagged, and schools lower the admissions standards a lot for those kids. So you got to know how to use those tags to your advantage. If you’re a legacy and you apply early to the school, you’ve got a 50 percent better chance of getting in.Most of the time you can’t predict what will push one candidate over the edge. Right now, for instance, schools are showing a large preference for non-college backgrounds—that is, applicants whose parents didn’t go to college. You have no control over who your parents are, but right now it helps if they didn’t go to college. Or Middlebury right now is on a kick for bringing in kids from outside the Northeast. They don’t want to be seen as a prep-school depository. Some 65 percent of their student body is from other parts of the country. Some schools even discriminate against the wealthy kid from Greenwich or New York City. They have to prove they have an actual love of learning and didn’t just spend summers flying to Europe on Daddy’s jet.”Stephen Friedfeld, private college admissions consultant in Princeton, New Jersey. Now works as an admissions officer for Princeton’s graduate engineering program; former admissions officer at Cornell “The biggest surprise for me was the difference in how much more contact private-school guidance counselors had with the admissions office vs. public schools. I went back to my own public high school alma mater and the guidance counselor asked, ‘Would it be okay for me to contact school regarding a student?’ I couldn't believe he was asking. That's just commonplace amongst the private school counselors or affluent suburban high schools. We brought in guidance counselors from a bunch of schools, most of them private high school counselors. And we visited those schools for events. We knew the private-school counselors by name and by face, and they've met the admissions officers from the most prestigious universities. That's a big advantage for students. Those counselors are pushing for them, advocating for them. I never got a call from a public school.People think you don't have to have a lot of savvy to work in admissions, but almost everyone at Cornell, for instance, had a PhD or masters. Applications are read in tandem with faculty, and that provides a different take. People look at putting a candidate forward as a personal endorsement. If I take a risk on a kid and he fails, that reflects on me personally. There's accountability there, so they tend to be risk-averse when it comes to students who academically are just on the line.”On definite “don’ts” in the admissions process Current admissions officer, Ivy League university “There’s an expression in admissions circles: the thicker the file, the thicker the kid. Don’t send in every newspaper clipping of your son on the high school honor role. That’s just redundant if we have his transcript.Admissions officers want this to be a hands-off process. If a parent calls them repeatedly, that’s almost always an automatic rejection. They worry that parent or student might become a nuisance to the university for the next four years. They just don’t want to be contacted all the time.”Stephen Friedfeld “A big mistake is sending too many letters of recommendation. Send three or four. Admissions offices don't want to see eight. They get the feeling you're trying to justify something that's bad or missing.And whatever you do, don't send poetry. That rarely works. A high school senior is probably not Shakespeare, so poetry is not going to help. Send sophisticated writing, answering the questions the application is asking. That's what admissions officers want to see.”Joie Jager-Hyman “After the letters came out, one father called me to complain his son hadn’t gotten in. He said he was an advisor on several TV shows and movies. So I asked him which ones, and he told me the show 90210. Well, that was my favorite show, so I asked him to give me some good gossip. Then the next day I got this huge package filled with stuff from the TV show: original scripts, autographs, etc. And I called him up and said, ‘Thanks for the cool package, but there’s still no way your kid is getting into this college.”Kathleen Kingsbury is a writer based in New York. She's a contributor to Time Magazine, where she has covered business, health and education since 2005.
by Kathleen Kingsbury
In a Daily Beast exclusive, college admissions officers reveal just how whimsical the selection process can be. Boring math geniuses, oboe-playing poets, and rich kids from New York need not apply.While you’re anxiously mailing off those college applications this week, you might want to recalibrate your expectations based on your race, your wealth, and whether the NFL team in the city where that college is located is on a losing streak. The shadowy world of college admissions has left millions of confused and frustrated rejects in its wake. (So stop practicing the oboe.) Current and former admissions officers from colleges and universities across the country talked to the Daily Beast about why attending a good high school can hurt your chances, the perils of too many recommendations, and why white girls from Jersey barely have a chance.On the arbitrary nature of admissions Former admissions officer at elite, small liberal arts college in the Northeast, age 25 “One year I had a student with a near-perfect SAT score and straight A’s. I’d originally put him in the submitted pile, but then we had to reduce the list. I reread his essays and frankly, they were just a little more boring than the other kids. So I cut him. Boring was the only justification that I needed and he was out.One night, I got food poisoning at a restaurant in Buffalo. The next day, I rejected all the Buffalo applications.I got sluggish in the afternoon after lunch, so maybe I wasn’t as scrupulous about a candidate as I would have been if I were fresh. Or even if my favorite sports team was in a slump, it affected who made the cut. If the [Pittsburgh] Steelers lost a game and I read your file the next morning, chances were you weren’t getting in. Where I could have been nice, I just didn’t go out of my way — I was a lot less charitable. Those are things that you, the applicant, have no control over. Which makes it all the more funny — the frenzy that parents and students work themselves into around getting in.”Current admissions officer, state university in the Northeast “All in all, we’re less selective than some of the elite schools or the Ivy League. But there are still some factors out of an applicant’s hands. One night, I got food poisoning at a restaurant in Buffalo. The next day, I rejected all the Buffalo applications. I couldn’t stomach reading them.”Current admissions officer, Ivy League university “Some 70 percent of kids who apply are qualified to come to school here, and we have space for one in ten. We can be as choosy as we like. It almost always comes down to whether or not you’re a likeable person. Let’s face it, some people are just more affable or more likeable than others. An admissions officer is really asking himself, ‘Would I like to hang out with this guy or gal for the next four years?’ So if you come off as just another Asian math genius with no personality, then it’s going to be tough for you. An admissions officer is not going to push very hard for you.”Former admissions officer, Ivy League university “Some middle-tier schools will reject top applicants, too — Kids that should have no trouble getting in. But the admissions officer’s attitude is, ‘Oh, he just applied here as a safety. He’ll never come.’ They don’t want to lower the yield they have to report for the college rankings.”Joie Jager-Hyman, former admissions officer at Dartmouth College, author of Fat Envelope Frenzy: One Year, Five Promising Students, and the Pursuit of the Ivy League Prize“People tend to like people like themselves. I could almost predict the application files my colleagues would support: this admissions officer likes the athletes; this one prefers the quiet, creative loner type; one person cared a lot about SATs; or another would be more likely to excuse things like teenage arrests than other colleagues.”On advantages in the admissions process Current admissions officer, Ivy League university “Any admissions director who uses the line about needing an oboe player is lying. There’s no admissions person in the country with a clue what the student orchestra needs. More likely, Mommy and Daddy gave a $1 million donation. That oboe thing is just a PR ploy.”Former admissions officer, Ivy League university “Of course there are files every year that the dean simply says aren’t debatable. It’s pretty easy to Google those kids and see Daddy is a U.S. Senator or gave the university $7 million. But it really takes paying for a building or endowing a chair to have that kind of privilege. Only about 70 percent of the other VIP kids get in, because it can be equally embarrassing if some big celebrity’s son fails out or gets arrested on campus. There have to be some standards.”Former admissions officer, elite, small liberal arts college in Massachusetts “Our school did away with on-campus interviews a few years ago, but if you were the child of a donor or an alum, you could get an unofficial interview. A face-to-face sit-down with the admissions office most people don’t get.Athletes’ applications at most schools go through a special committee. They’re read before all the other candidates’ files. That way the coach can push for the people he really wants and make sure they get a spot.We were always looking for candidates from underrepresented groups. So if you are just a typical white girl from New Jersey and your application didn’t pass muster, it was relegated to the reject pile without a second thought. With a minority kid with the same stats, you just can’t do that. They always warrant a second or even third look.”Michele Hernandez, nationally known private college admissions consultant located in Vermont. Author of the book A is Admissions: The Insider's Guide to Getting into the Ivy League and Other Top Colleges and former admissions officer at Dartmouth College“40 percent of every Ivy League school is filled up with special cases: athletes, minorities, low-income, legacies or development cases. They’re tagged, and schools lower the admissions standards a lot for those kids. So you got to know how to use those tags to your advantage. If you’re a legacy and you apply early to the school, you’ve got a 50 percent better chance of getting in.Most of the time you can’t predict what will push one candidate over the edge. Right now, for instance, schools are showing a large preference for non-college backgrounds—that is, applicants whose parents didn’t go to college. You have no control over who your parents are, but right now it helps if they didn’t go to college. Or Middlebury right now is on a kick for bringing in kids from outside the Northeast. They don’t want to be seen as a prep-school depository. Some 65 percent of their student body is from other parts of the country. Some schools even discriminate against the wealthy kid from Greenwich or New York City. They have to prove they have an actual love of learning and didn’t just spend summers flying to Europe on Daddy’s jet.”Stephen Friedfeld, private college admissions consultant in Princeton, New Jersey. Now works as an admissions officer for Princeton’s graduate engineering program; former admissions officer at Cornell “The biggest surprise for me was the difference in how much more contact private-school guidance counselors had with the admissions office vs. public schools. I went back to my own public high school alma mater and the guidance counselor asked, ‘Would it be okay for me to contact school regarding a student?’ I couldn't believe he was asking. That's just commonplace amongst the private school counselors or affluent suburban high schools. We brought in guidance counselors from a bunch of schools, most of them private high school counselors. And we visited those schools for events. We knew the private-school counselors by name and by face, and they've met the admissions officers from the most prestigious universities. That's a big advantage for students. Those counselors are pushing for them, advocating for them. I never got a call from a public school.People think you don't have to have a lot of savvy to work in admissions, but almost everyone at Cornell, for instance, had a PhD or masters. Applications are read in tandem with faculty, and that provides a different take. People look at putting a candidate forward as a personal endorsement. If I take a risk on a kid and he fails, that reflects on me personally. There's accountability there, so they tend to be risk-averse when it comes to students who academically are just on the line.”On definite “don’ts” in the admissions process Current admissions officer, Ivy League university “There’s an expression in admissions circles: the thicker the file, the thicker the kid. Don’t send in every newspaper clipping of your son on the high school honor role. That’s just redundant if we have his transcript.Admissions officers want this to be a hands-off process. If a parent calls them repeatedly, that’s almost always an automatic rejection. They worry that parent or student might become a nuisance to the university for the next four years. They just don’t want to be contacted all the time.”Stephen Friedfeld “A big mistake is sending too many letters of recommendation. Send three or four. Admissions offices don't want to see eight. They get the feeling you're trying to justify something that's bad or missing.And whatever you do, don't send poetry. That rarely works. A high school senior is probably not Shakespeare, so poetry is not going to help. Send sophisticated writing, answering the questions the application is asking. That's what admissions officers want to see.”Joie Jager-Hyman “After the letters came out, one father called me to complain his son hadn’t gotten in. He said he was an advisor on several TV shows and movies. So I asked him which ones, and he told me the show 90210. Well, that was my favorite show, so I asked him to give me some good gossip. Then the next day I got this huge package filled with stuff from the TV show: original scripts, autographs, etc. And I called him up and said, ‘Thanks for the cool package, but there’s still no way your kid is getting into this college.”Kathleen Kingsbury is a writer based in New York. She's a contributor to Time Magazine, where she has covered business, health and education since 2005.
Sunday, January 11, 2009
Harvard Business Review Names Adi Ignatius As Editor-in-Chief
PR-Inside.com (Pressemitteilung), Austria - 8 hours agoAdi Ignatius, the Deputy Managing Editor of TIME magazine, has been named Editor-in-Chief of Harvard Business Review (www.hbr.org).
Thursday, January 8, 2009
MUMBAI: What started out as a small-scale venture by five friends in Mumbai is set to gain global a footprint.
MUMBAI: What started out as a small-scale venture by five friends in Mumbai is set to gain global a footprint.
The success story of the 1298 ambulance services, which was launched by the five to save lives, will soon be incorporated as a case study in social entrepreneurship for the curriculum at Harvard Business School.
A step forward was taken in this direction when a team of post-graduate students from Harvard Kennedy School dropped by at the 1298 office in the Bandra-Kurla Complex on Tuesday. This is the second batch of students that has visited Mumbai for the purpose.
The students got a first-hand orientation into how the ambulance service was started with a seed capital from five friends, modelled on the cross-subsidy principle and scaled up from a fleet of 10 ambulances in 2005 to 51 till date.
The exchange was engaging, as students enthusiastically questioned how the 1298 project became sustainable, what the challenges were along the way and if the team trusted citizens to pay after use. Explaining the intense thought that had gone into the project, one of the founders, Shweta Mangal, said they chose the colour yellow for their ambulances to distinguish their fleet from the ambulances that ferry bodies. "We had no marketing budget when we started out, so we turned to innovative ways such as networking with hospitals (which receive the maximum calls for an ambulance) and radio campaigns to spread the word,'' Mangal told the students. "We also learnt from the West that the concept of ambulances was drilled into them from a young age. So we started first-aid training across schools and colleges.''
Another partner, Shaffi Mather, said after studying ambulance models from across the globe, they concluded that a cross-subsidy model worked the best. Accordingly, patients being taken to private hospitals are charged full fare, those going to public hospitals charged subsidised rates and accident and calamity victims ferried free-of-cost. "We did consider the subscription model, but realised that it wouldn't work in a city like Mumbai where less than 8% of the population pays for medical insurance,'' said Mather.
The Harvard students who met municipal commissioner Jairaj Phatak on Monday to study housing projects and problems in the city, will also visit IT firm, Infosys, in Bangalore.
The visiting youths felt they had picked up invaluable lessons during their Mumbai visit. "I got to take away from India more than an ordinary tourist,'' said Samantha Black. Her friend, Sam Lee, who is particularly interested in social entrepreneurship, said he was inspired by the 1298 story. "We have been searching out effective innovative models, which can be replicated elsewhere. This worked within the existing constraints in India which is why the interaction was of particular interest,'' said Lee who works with the social enterprise initiative at Harvard. For many, like Anjali Doshi (27), the experience was an insight into the other world. "We take EMS (Emergency Medical Services) for granted back home and it helped me understand opportunities and challenges in the global context,'' she said.
The success story of the 1298 ambulance services, which was launched by the five to save lives, will soon be incorporated as a case study in social entrepreneurship for the curriculum at Harvard Business School.
A step forward was taken in this direction when a team of post-graduate students from Harvard Kennedy School dropped by at the 1298 office in the Bandra-Kurla Complex on Tuesday. This is the second batch of students that has visited Mumbai for the purpose.
The students got a first-hand orientation into how the ambulance service was started with a seed capital from five friends, modelled on the cross-subsidy principle and scaled up from a fleet of 10 ambulances in 2005 to 51 till date.
The exchange was engaging, as students enthusiastically questioned how the 1298 project became sustainable, what the challenges were along the way and if the team trusted citizens to pay after use. Explaining the intense thought that had gone into the project, one of the founders, Shweta Mangal, said they chose the colour yellow for their ambulances to distinguish their fleet from the ambulances that ferry bodies. "We had no marketing budget when we started out, so we turned to innovative ways such as networking with hospitals (which receive the maximum calls for an ambulance) and radio campaigns to spread the word,'' Mangal told the students. "We also learnt from the West that the concept of ambulances was drilled into them from a young age. So we started first-aid training across schools and colleges.''
Another partner, Shaffi Mather, said after studying ambulance models from across the globe, they concluded that a cross-subsidy model worked the best. Accordingly, patients being taken to private hospitals are charged full fare, those going to public hospitals charged subsidised rates and accident and calamity victims ferried free-of-cost. "We did consider the subscription model, but realised that it wouldn't work in a city like Mumbai where less than 8% of the population pays for medical insurance,'' said Mather.
The Harvard students who met municipal commissioner Jairaj Phatak on Monday to study housing projects and problems in the city, will also visit IT firm, Infosys, in Bangalore.
The visiting youths felt they had picked up invaluable lessons during their Mumbai visit. "I got to take away from India more than an ordinary tourist,'' said Samantha Black. Her friend, Sam Lee, who is particularly interested in social entrepreneurship, said he was inspired by the 1298 story. "We have been searching out effective innovative models, which can be replicated elsewhere. This worked within the existing constraints in India which is why the interaction was of particular interest,'' said Lee who works with the social enterprise initiative at Harvard. For many, like Anjali Doshi (27), the experience was an insight into the other world. "We take EMS (Emergency Medical Services) for granted back home and it helped me understand opportunities and challenges in the global context,'' she said.
Wednesday, December 24, 2008
Undercover at HBS
My friend Teeba was always a force to be reckoned with, ever since our undergraduate days. We clicked. And she quickly became one of the closest people to me. I always knew she'd go places in her life, and I was right. She is now a semester away from attaining her MBA from Harvard Business School - better known to her and her peers as HBS(1).
During my 2-week vacation to visit Teeba, I was surrounded by HBSers(2) (or so they call themselves) and visited her campus several times. Just the aura of the school makes you feel inadequate, because you know that you are among some of the most brilliant, most unique, most intellectual minds in our world.
The students come from all walks of life which makes them all the more interesting. Right off the bat you can assume they are all smart as hell. They all seem to know something about everything or everything about something! Give them any topic, ask them any question and you can be sure that they'll answer you (even if they don't know what the answer is, they'll make you think that they do… key phrase: H- BS).
They are well educated dedicated individuals who know how to have a good time as well. But, they all have one major… "flaw", if you will: they go to HBS: the ultimate "cult" - and I use the term very loosely.
HBS is all they can talk about. I cannot count the times Teeba started a conversation with: "At HBS…" "My friends from HBS…" "My section(3) at HBS…" "Is she/he HBS?" "With HBS…" "HBSers…"
It was always "HBS this" and "HBS that." And it's not only her. It's all of them. At times, when with "HBSers" (there it is again), I found my self daydreaming as they talked about: How they loved Professor Vietor's controversial teaching style, how Professor Kaplan was the VP of Goldman Sachs (ring a bell? It's ok if it doesn't!), how the new "RCs(4)" are not as much fun as the "ECs(5)", how the dining hall at "Spangler" gets too busy at noon, how Dalia can be so pessimistic about everything, how Abdulla (an RC) is sitting in the same seat as Teeba when she was an RC, how Matt's partner(6) was a non-HBSer, how Danish attained his reputation for saying the most outrageous things in class (AKA the "Kimono" comment - sorry, HBS inside joke - one of many I had to sit through), or how section D was not as diverse as the other sections.
You have to know that these people are beyond well rounded. They've been to some of the best undergraduate schools across the world, worked with the biggest companies, accomplished some of the most amazing things, and most are trilingual. So, you think when amongst them that you'd be consumed by invigorating conversations and debates. But, HBS is all they talk about.
Alright… I think I've taken out all my 2-week frustration of being an undercover HBS observer. I'd like you to meet the real HBS:
Osman: the daily planner and go-to guy if you need anything to be done
Matt: possibly one of the kindest people I've met
Nico: the Greek "survivor"
Marwan: the walking tour book
Danish: who always had something to say (appropriate or not… mostly not)
Cristin: the postcard collector
Tevia: who cuts her own hair!
Pato: the health nut
Sara V: the cookie-baker
Christine: the laugh-a-holic
Shilpa: the bachelorette
Dalia: the firecracker
Ghassan: the unpredictable soul
Abdullah: the owner of the coolest eye glasses collection
Yousef: the guy who ran across Harvard square with me
Section A Boys: Teeba's section boys - the funniest, craziest group of boys - thanks to the "shoulder game" (another HBS inside joke and one of few I can actually participate in!)
So, as you can see… on the flip side, two weeks with these people gave me some of my most treasured memories, which I will never forget. Yes they are in HBS. Yes they are smart. Yes they are dedicated, diligent students. But, the genuineness they all carry and their ability to just be silly with all the pressures they endure, well… that's what makes the "HBSers" approachable, lovable, missable. I'd go back in a heart beat.
HBS Glossary
(1) HBS: Harvard Business School
(2) HBSers: Students who attend Harvard Business School
(3) Section: In their first year, they are
divided into sections between A-J
(4) RC: Required Curriculum students
(1st year)
(5) EC: Elective Curriculum students
(2nd year)
(6) Partner: The term used for the spouses of HBS students
During my 2-week vacation to visit Teeba, I was surrounded by HBSers(2) (or so they call themselves) and visited her campus several times. Just the aura of the school makes you feel inadequate, because you know that you are among some of the most brilliant, most unique, most intellectual minds in our world.
The students come from all walks of life which makes them all the more interesting. Right off the bat you can assume they are all smart as hell. They all seem to know something about everything or everything about something! Give them any topic, ask them any question and you can be sure that they'll answer you (even if they don't know what the answer is, they'll make you think that they do… key phrase: H- BS).
They are well educated dedicated individuals who know how to have a good time as well. But, they all have one major… "flaw", if you will: they go to HBS: the ultimate "cult" - and I use the term very loosely.
HBS is all they can talk about. I cannot count the times Teeba started a conversation with: "At HBS…" "My friends from HBS…" "My section(3) at HBS…" "Is she/he HBS?" "With HBS…" "HBSers…"
It was always "HBS this" and "HBS that." And it's not only her. It's all of them. At times, when with "HBSers" (there it is again), I found my self daydreaming as they talked about: How they loved Professor Vietor's controversial teaching style, how Professor Kaplan was the VP of Goldman Sachs (ring a bell? It's ok if it doesn't!), how the new "RCs(4)" are not as much fun as the "ECs(5)", how the dining hall at "Spangler" gets too busy at noon, how Dalia can be so pessimistic about everything, how Abdulla (an RC) is sitting in the same seat as Teeba when she was an RC, how Matt's partner(6) was a non-HBSer, how Danish attained his reputation for saying the most outrageous things in class (AKA the "Kimono" comment - sorry, HBS inside joke - one of many I had to sit through), or how section D was not as diverse as the other sections.
You have to know that these people are beyond well rounded. They've been to some of the best undergraduate schools across the world, worked with the biggest companies, accomplished some of the most amazing things, and most are trilingual. So, you think when amongst them that you'd be consumed by invigorating conversations and debates. But, HBS is all they talk about.
Alright… I think I've taken out all my 2-week frustration of being an undercover HBS observer. I'd like you to meet the real HBS:
Osman: the daily planner and go-to guy if you need anything to be done
Matt: possibly one of the kindest people I've met
Nico: the Greek "survivor"
Marwan: the walking tour book
Danish: who always had something to say (appropriate or not… mostly not)
Cristin: the postcard collector
Tevia: who cuts her own hair!
Pato: the health nut
Sara V: the cookie-baker
Christine: the laugh-a-holic
Shilpa: the bachelorette
Dalia: the firecracker
Ghassan: the unpredictable soul
Abdullah: the owner of the coolest eye glasses collection
Yousef: the guy who ran across Harvard square with me
Section A Boys: Teeba's section boys - the funniest, craziest group of boys - thanks to the "shoulder game" (another HBS inside joke and one of few I can actually participate in!)
So, as you can see… on the flip side, two weeks with these people gave me some of my most treasured memories, which I will never forget. Yes they are in HBS. Yes they are smart. Yes they are dedicated, diligent students. But, the genuineness they all carry and their ability to just be silly with all the pressures they endure, well… that's what makes the "HBSers" approachable, lovable, missable. I'd go back in a heart beat.
HBS Glossary
(1) HBS: Harvard Business School
(2) HBSers: Students who attend Harvard Business School
(3) Section: In their first year, they are
divided into sections between A-J
(4) RC: Required Curriculum students
(1st year)
(5) EC: Elective Curriculum students
(2nd year)
(6) Partner: The term used for the spouses of HBS students
Wednesday, November 26, 2008
BizWeek: MBA Writing Tips
"MBAs may be good at analyzing spreadsheets and reading financial statements, but many cringe when faced with a lengthy academic writing assignment. The task can be especially difficult for students who have been in the work force for four or five years and haven't written a serious academic paper or report since college.
Writing classes typically aren't on most business schools' list of core required courses, but business schools are starting to recognize that MBAs' rusty composition skills could benefit from a brush-up. In Minneapolis, the University of St. Thomas' Opus College of Business requires that all students take a writing and spoken communication course during their first year. The school's writing communication lab professors helps students improve their writing skills, coaching them on everything from how to write a case study analysis to lengthy academic papers.
Rosanne Bane, an Opus faculty member, has taught the school's Business Writing Communication Lab for the school's full-time MBA program for the past four years and currently teaches and coaches the school's Executive MBA students. She will be offering a workshop on business writing this month called "The Write Stuff: Writing for MBA Courses" at Opus. Bane agreed to share some tips on how MBA students can make their writing sharper and more effective:
DON'T BE LONG-WINDED
One of the things most valued in business writing is the ability to get to the point—quickly. "In business writing, conciseness is a prime virtue," Bane says. Students often lose sight of this in business school, and will sometimes "just add fluff" for the sake of getting to a required page count for a paper. Bane counsels students to look over their papers closely after they've written the first draft, taking out unnecessary words or flowery phrases. While some extra words and elaboration may be permissible on an academic paper, students need to show restraint when they are writing documents for business clients. For example, second-year students at Opus typically prepare a market research report for business clients and often feel the need to try to fit every data point into the paper. "It's going to be a long report anyway, so don't make it any longer by throwing in words or phrases you don't need," Bane says.
KNOW YOUR MEDIUM
Students often come into B-school tending to rely too muchon e-mail, a habit many developed at their former workplaces. This can be a mistake, especially if you are trying to communicate an important or sensitive message. E-mail communication is "context poor" and doesn't always express the senders' intended intonation or emotional state, Bane says. Business school, with its emphasis on teamwork and community, is an ideal place for students to experiment with other forms of communication. Making a phone call, writing something in a letter or memo format or talking to someone in person can often be a lot more effective.
UNDERSTAND YOUR AUDIENCE
Before starting an assignment, students should step back and think about who will be reading their essay or report. Things to consider: What does your audience already know? What will the people need to know? What is the significance of the information you are trying to communicate? Students should also keep in mind the demographic they are writing for and the education level of their audience. This will make it easier to develop an outline and game plan for their writing assignment. "Identify the purpose of your communication, consider the context of the situation, and then select the message accordingly," Bane says.
SCHOOL AND BUSINESS ARE DIFFERENT
B-school students have to become comfortable doing a blend of academic writing and more practical business writing during their years in business school. It's helpful to have an understanding of the key differences between the two, Bane says. Academic writing tends to have a much more complex sentence structure with a "more elevated, polysyllabic vocabulary",; while business writing tends to have a brisker tone. "It should be faster and easier to read so people can absorb the information quickly," she notes.
PRACTICE WRITING OFTEN
Leaving an assignment to the last minute can be tempting, especially if you are juggling four or five projects for different classes. Fight this urge if possible, Bane says. Students should set aside time to write drafts, edit, and be thoughtful about their work. One easy way to do this is to set aside 5 or 10 minutes for "free writing" time a day, a practice of just writing without any defined purpose. That allows students to get over any inertia or writer's block. "I encourage them to do this so that they are able to practice and develop their skills," she says. "It lets you know where you need to focus your attention."
Damast is a reporter for BusinessWeek.com. "
Writing classes typically aren't on most business schools' list of core required courses, but business schools are starting to recognize that MBAs' rusty composition skills could benefit from a brush-up. In Minneapolis, the University of St. Thomas' Opus College of Business requires that all students take a writing and spoken communication course during their first year. The school's writing communication lab professors helps students improve their writing skills, coaching them on everything from how to write a case study analysis to lengthy academic papers.
Rosanne Bane, an Opus faculty member, has taught the school's Business Writing Communication Lab for the school's full-time MBA program for the past four years and currently teaches and coaches the school's Executive MBA students. She will be offering a workshop on business writing this month called "The Write Stuff: Writing for MBA Courses" at Opus. Bane agreed to share some tips on how MBA students can make their writing sharper and more effective:
DON'T BE LONG-WINDED
One of the things most valued in business writing is the ability to get to the point—quickly. "In business writing, conciseness is a prime virtue," Bane says. Students often lose sight of this in business school, and will sometimes "just add fluff" for the sake of getting to a required page count for a paper. Bane counsels students to look over their papers closely after they've written the first draft, taking out unnecessary words or flowery phrases. While some extra words and elaboration may be permissible on an academic paper, students need to show restraint when they are writing documents for business clients. For example, second-year students at Opus typically prepare a market research report for business clients and often feel the need to try to fit every data point into the paper. "It's going to be a long report anyway, so don't make it any longer by throwing in words or phrases you don't need," Bane says.
KNOW YOUR MEDIUM
Students often come into B-school tending to rely too muchon e-mail, a habit many developed at their former workplaces. This can be a mistake, especially if you are trying to communicate an important or sensitive message. E-mail communication is "context poor" and doesn't always express the senders' intended intonation or emotional state, Bane says. Business school, with its emphasis on teamwork and community, is an ideal place for students to experiment with other forms of communication. Making a phone call, writing something in a letter or memo format or talking to someone in person can often be a lot more effective.
UNDERSTAND YOUR AUDIENCE
Before starting an assignment, students should step back and think about who will be reading their essay or report. Things to consider: What does your audience already know? What will the people need to know? What is the significance of the information you are trying to communicate? Students should also keep in mind the demographic they are writing for and the education level of their audience. This will make it easier to develop an outline and game plan for their writing assignment. "Identify the purpose of your communication, consider the context of the situation, and then select the message accordingly," Bane says.
SCHOOL AND BUSINESS ARE DIFFERENT
B-school students have to become comfortable doing a blend of academic writing and more practical business writing during their years in business school. It's helpful to have an understanding of the key differences between the two, Bane says. Academic writing tends to have a much more complex sentence structure with a "more elevated, polysyllabic vocabulary",; while business writing tends to have a brisker tone. "It should be faster and easier to read so people can absorb the information quickly," she notes.
PRACTICE WRITING OFTEN
Leaving an assignment to the last minute can be tempting, especially if you are juggling four or five projects for different classes. Fight this urge if possible, Bane says. Students should set aside time to write drafts, edit, and be thoughtful about their work. One easy way to do this is to set aside 5 or 10 minutes for "free writing" time a day, a practice of just writing without any defined purpose. That allows students to get over any inertia or writer's block. "I encourage them to do this so that they are able to practice and develop their skills," she says. "It lets you know where you need to focus your attention."
Damast is a reporter for BusinessWeek.com. "
Sunday, November 23, 2008
Sample MBA Admissions Essays accepted by Anderson and UCLA
"Sample MBA Admissions Essays - Accepted by Anderson and UCLA (Courtesy of EssayEdge)
What do you consider to be your most important personal and professional accomplishments to date? (Please limit to three.)
With no money, no direction, and no goals, I graduated from high school in 1987 not knowing if I would ever be a man, if I would ever know what life means. Unable to afford college tuition, I worked odd jobs for a few months before deciding to join the United States Marine Corps. A scrappy kid who needed structure and support, I entered the Marines unprepared for the next thirteen weeks of extraordinary physical and mental challenges.
Arriving at the recruit-training depot in Parris Island South Carolina on February 3,1988 not knowing what to expect, I watched my hair fall off my head, had vaccinations for every disease ever discovered, and learned to live with sixty other young men in close quarters. The days were long. I would wake up at 4 a.m. and work nonstop for 18 hours until I could collapse on my bed. Exposed to individuals from many different cultural and economic backgrounds, I learned the value of teamwork and the work ethic essential to leadership. When we first arrived on the island, my platoon was a jumbled mess of disobedient, out of shape, undisciplined boys. After three months of exhausting training we were molded into a group of highly motivated, physically fit men. On the proudest day of my life, I marched in the graduation parade to become a United States Marine.
After being discharged from the United States Marine Corps, I became determined to attain an electrical engineering degree from Florida State University. I wisely invested in the GI Bill early on in my Marine Corps career in order to go to college. Although a substantial amount of money, the GI Bill only covered my tuition; to pay for food and rent, I took a full time job with the VA work-study program. In the beginning I had difficulty adjusting to working full time while maintaining a full coarse load, and I began to feel hindered by my years outside the classroom. However, determined to succeed, I learned to manage my time well, and I established good study habits, which have continued to the present. In the spring of 1997 I obtained a Bachelors degree in Electrical engineering, a full year ahead of schedule. I take pride in the fact that I am the first person in my family to obtain a college degree.
I moved to Los Angeles after graduating from college and accepted a position at an aerospace company as a design engineer. Although I had multiple offers, I chose to work at my particular company to further my education. Putting in long hours at work while devoting most of my personal time to obtaining a Masters degree in electrical engineering, I felt like I was in college again with my full time job and academic responsibilities. To keep some sense of sanity and maintain good spirits, I decided to learn how to snowboard. Although at first snowboarding seemed a most impossible mission given the long drive to the resort and my inexperience with cold weather, I persevered and by the end of my first day could navigate my way down the mountain. I have since become an accomplished snowboarder, but nothing matches the exhilaration I felt at the end of that first day when I completed my first run without falling.
Why have you decided to enter the Fully Employed MBA program? Why is it the appropriate time for you to begin?
With the drive, determination, and discipline to both work at my career and attend an MBA program, I am excited to pursue a high quality MBA at UCLA. Interested in acquiring the skill set and technical knowledge necessary to become a hi-tech consultant, the UCLA program will prove central to my future success.
As an engineering major in college, I developed excellent analytical skills and improved my problem-solving ability, but I never had the opportunity to take courses exploring business strategy, finance, or market forces. To realize my career goal, I clearly must enhance my abilities in these as well as other areas of business. I believe that the management core at Anderson will provide me with the necessary knowledge to enhance and develop my capabilities. Also, in order to become a successful consultant, it is imperative that I gain a more thorough education in foreign markets, business technology, and competition. As a hi-tech consultant in the twenty-first century, the ability to understand business on a global scale will be highly prized. The International Field Study at Anderson would suit my needs well by allowing students to learn about business by working with foreign companies.
Moreover, I look forward to interacting with the highly qualified, diverse students of the Anderson FEMBA program. With only 132 students forming numerous study groups, the program ensures the intimacy necessary to learn from each other's varying perspectives and backgrounds. I know I could both contribute and grow in this unique environment where all students are fully employed. From my time as an officer in US Marine Corps and as an employee at a high-tech aerospace company, I have both developed strong team abilities and have seen the value and synergies of combining people with different backgrounds, knowledge, and experience levels. The dynamics created by these teams help produce the most innovative and creative ideas, whether in the Marines or an Anderson classroom.
While I will never regret joining the Marine Corps, the five years I spent serving my country led me off the beaten path for achieving my career goals. Although I developed a strong work ethic and a goal-oriented nature, I have not followed the standard path. The FEMBA program will be the great equalizer, ensuring future employers that I have both the personal qualities and rigorous academic training necessary for success. By working full time and working on my masters degree in engineering from the University of Southern California, I have shown that I have what it takes to manage my work schedule while attending a prestigious institution. Now, I seek only the opportunity to prove this again by being admitted to the Fully Employed MBA program. AT UCLA, I will start my way down the path that will lead me to career success and fulfillment as a hi-tech consultant.
For access to 100 free sample successful admissions essays, visit EssayEdge .
Sample Application and Admissions Essays:
Sample Admissions Essay - Cornell
Sample Admissions Essay - Darthmouth
Sample Admissions Essay - Harvard
Sample Admissions Essay - Princeton
Sample Admissions Essay - Stanford
Sample Business School Essay - Wharton
Sample Business School Essay - Tuck
Sample Business School Essay - Columbia
Sample MBA Essay - Anderson
Sample MBA Essay - NYU
Sample MBA Essay - Stern
Sample MBA Essay - UCLA
Sample MBA Essay - Harvard
Sample Admissions Essay - Med School
Sample Admissions Essay - Med School
Sample Admissions Essay - Law School
Sample Admissions Essay - Law School
Admissions Essay Writing 101
Used by admissions officers to decide between two (or even two hundred) candidates with almost identical profiles, the application essay is often the only guide admissions officers have of your ambition, personality, and interests. As a result, your essay must be unique, captivating, and informative. Try the free online entrance essay course offered by Essay Edge and Cyber Edit. Named "the world's premier application essay editing service" by The New York Times, EssayEdge has helped more applicants write successful application essays than any other company in the world.
This course offers extensive advice on how to write outstanding admissions essays. "
What do you consider to be your most important personal and professional accomplishments to date? (Please limit to three.)
With no money, no direction, and no goals, I graduated from high school in 1987 not knowing if I would ever be a man, if I would ever know what life means. Unable to afford college tuition, I worked odd jobs for a few months before deciding to join the United States Marine Corps. A scrappy kid who needed structure and support, I entered the Marines unprepared for the next thirteen weeks of extraordinary physical and mental challenges.
Arriving at the recruit-training depot in Parris Island South Carolina on February 3,1988 not knowing what to expect, I watched my hair fall off my head, had vaccinations for every disease ever discovered, and learned to live with sixty other young men in close quarters. The days were long. I would wake up at 4 a.m. and work nonstop for 18 hours until I could collapse on my bed. Exposed to individuals from many different cultural and economic backgrounds, I learned the value of teamwork and the work ethic essential to leadership. When we first arrived on the island, my platoon was a jumbled mess of disobedient, out of shape, undisciplined boys. After three months of exhausting training we were molded into a group of highly motivated, physically fit men. On the proudest day of my life, I marched in the graduation parade to become a United States Marine.
After being discharged from the United States Marine Corps, I became determined to attain an electrical engineering degree from Florida State University. I wisely invested in the GI Bill early on in my Marine Corps career in order to go to college. Although a substantial amount of money, the GI Bill only covered my tuition; to pay for food and rent, I took a full time job with the VA work-study program. In the beginning I had difficulty adjusting to working full time while maintaining a full coarse load, and I began to feel hindered by my years outside the classroom. However, determined to succeed, I learned to manage my time well, and I established good study habits, which have continued to the present. In the spring of 1997 I obtained a Bachelors degree in Electrical engineering, a full year ahead of schedule. I take pride in the fact that I am the first person in my family to obtain a college degree.
I moved to Los Angeles after graduating from college and accepted a position at an aerospace company as a design engineer. Although I had multiple offers, I chose to work at my particular company to further my education. Putting in long hours at work while devoting most of my personal time to obtaining a Masters degree in electrical engineering, I felt like I was in college again with my full time job and academic responsibilities. To keep some sense of sanity and maintain good spirits, I decided to learn how to snowboard. Although at first snowboarding seemed a most impossible mission given the long drive to the resort and my inexperience with cold weather, I persevered and by the end of my first day could navigate my way down the mountain. I have since become an accomplished snowboarder, but nothing matches the exhilaration I felt at the end of that first day when I completed my first run without falling.
Why have you decided to enter the Fully Employed MBA program? Why is it the appropriate time for you to begin?
With the drive, determination, and discipline to both work at my career and attend an MBA program, I am excited to pursue a high quality MBA at UCLA. Interested in acquiring the skill set and technical knowledge necessary to become a hi-tech consultant, the UCLA program will prove central to my future success.
As an engineering major in college, I developed excellent analytical skills and improved my problem-solving ability, but I never had the opportunity to take courses exploring business strategy, finance, or market forces. To realize my career goal, I clearly must enhance my abilities in these as well as other areas of business. I believe that the management core at Anderson will provide me with the necessary knowledge to enhance and develop my capabilities. Also, in order to become a successful consultant, it is imperative that I gain a more thorough education in foreign markets, business technology, and competition. As a hi-tech consultant in the twenty-first century, the ability to understand business on a global scale will be highly prized. The International Field Study at Anderson would suit my needs well by allowing students to learn about business by working with foreign companies.
Moreover, I look forward to interacting with the highly qualified, diverse students of the Anderson FEMBA program. With only 132 students forming numerous study groups, the program ensures the intimacy necessary to learn from each other's varying perspectives and backgrounds. I know I could both contribute and grow in this unique environment where all students are fully employed. From my time as an officer in US Marine Corps and as an employee at a high-tech aerospace company, I have both developed strong team abilities and have seen the value and synergies of combining people with different backgrounds, knowledge, and experience levels. The dynamics created by these teams help produce the most innovative and creative ideas, whether in the Marines or an Anderson classroom.
While I will never regret joining the Marine Corps, the five years I spent serving my country led me off the beaten path for achieving my career goals. Although I developed a strong work ethic and a goal-oriented nature, I have not followed the standard path. The FEMBA program will be the great equalizer, ensuring future employers that I have both the personal qualities and rigorous academic training necessary for success. By working full time and working on my masters degree in engineering from the University of Southern California, I have shown that I have what it takes to manage my work schedule while attending a prestigious institution. Now, I seek only the opportunity to prove this again by being admitted to the Fully Employed MBA program. AT UCLA, I will start my way down the path that will lead me to career success and fulfillment as a hi-tech consultant.
For access to 100 free sample successful admissions essays, visit EssayEdge .
Sample Application and Admissions Essays:
Sample Admissions Essay - Cornell
Sample Admissions Essay - Darthmouth
Sample Admissions Essay - Harvard
Sample Admissions Essay - Princeton
Sample Admissions Essay - Stanford
Sample Business School Essay - Wharton
Sample Business School Essay - Tuck
Sample Business School Essay - Columbia
Sample MBA Essay - Anderson
Sample MBA Essay - NYU
Sample MBA Essay - Stern
Sample MBA Essay - UCLA
Sample MBA Essay - Harvard
Sample Admissions Essay - Med School
Sample Admissions Essay - Med School
Sample Admissions Essay - Law School
Sample Admissions Essay - Law School
Admissions Essay Writing 101
Used by admissions officers to decide between two (or even two hundred) candidates with almost identical profiles, the application essay is often the only guide admissions officers have of your ambition, personality, and interests. As a result, your essay must be unique, captivating, and informative. Try the free online entrance essay course offered by Essay Edge and Cyber Edit. Named "the world's premier application essay editing service" by The New York Times, EssayEdge has helped more applicants write successful application essays than any other company in the world.
This course offers extensive advice on how to write outstanding admissions essays. "
MBA Essay Samples - MBA Game Plan
Here are sample MBA essay evaluations that four applicants received from us on their initial essay submission and their free follow-up submission. These will give you a good idea of what you can expect from our business school essay evaluation services. Details have been changed to protect the applicants’ identities.
John's Wharton MBA Essay (First Submission)
John's Wharton MBA Essay (Second Submission)
Michael's Michigan MBA Essay (First Submission)
Michael's Michigan MBA Essay (Second Submission)
Manish's Chicago MBA Essay (First Submission)
Manish's Chicago MBA Essay (Second Submission)
Jennifer's Columbia MBA Essay (First Submission)
Jennifer's Columbia MBA Essay (Second Submission)
John's Wharton MBA Essay (First Submission)
John's Wharton MBA Essay (Second Submission)
Michael's Michigan MBA Essay (First Submission)
Michael's Michigan MBA Essay (Second Submission)
Manish's Chicago MBA Essay (First Submission)
Manish's Chicago MBA Essay (Second Submission)
Jennifer's Columbia MBA Essay (First Submission)
Jennifer's Columbia MBA Essay (Second Submission)
Wednesday, November 19, 2008
Perfect GMAT
For the many professionals affected by the current economic downturn, enrolling in a leading MBA program is emerging as an increasingly attractive option. Veritas Prep, a leading GMAT prep and MBA admissions consulting provider, today announced plans to hold Veritas Prep MBA Admissions Blueprint -- a two-day, boot-camp style MBA admissions tutorial to help students craft winning applications for the second and third-round application deadlines.
To be held December 6-7, 2008 at New York University's Kimmel Center, Veritas Prep MBA Admissions Blueprint will feature a crash-course introduction to the business school admissions process as well as individual access to some of the leading minds in business school admissions consulting. Designed primarily for bankers and other last-minute applicants affected by the economic slowdown, Veritas Prep MBA Admissions Blueprint will give applicants access to proven strategies for acing the business school application and securing coveted spots in leading programs.
"In light of one of the most competitive MBA admissions landscapes in recent history, former bankers and others affected by the economic downturn may find it especially difficult to set themselves apart from a crowded field of similar-looking applicants when they apply to business school," explains Scott Shrum, director of MBA admissions research at Veritas Prep and co-author of "Your MBA Game Plan: Proven Strategies for Getting Into the Top Business Schools."
In addition to a series of general information sessions, registered attendees at Veritas Prep MBA Admissions Blueprint will receive a personalized application advice session with a highly experienced business school admissions consultant who comes from a top business school. Depending on the unique needs of each student, this one-on-one session can help to objectively evaluate their candidacy for particular programs and select the programs that best match their goals, perfect their overall application strategy, review their application essays, or prepare for the business school interview.
The cost of attendance is $250 and space is limited. Online registration is available now at http://www.veritasprep.com/blueprint/ or by phone at 1-800-925-7737.
About Veritas Prep
Veritas Prep is a leading GMAT prep provider that offers effective learning programs to help students improve their GMAT scores and gain admission to the world's best graduate schools. Founded in 2002 by graduates from the Yale School of Management, Veritas Prep offers live GMAT prep instruction in more than 70 cities worldwide, as well as interactive online courses. In addition to the most comprehensive GMAT prep courses available, Veritas Prep offers industry-leading admissions consulting to applicants seeking admission to the world's most competitive MBA programs and law schools.
Contact:
Lisa Weiner
303.433.7020
lweiner@csg-pr.com
To be held December 6-7, 2008 at New York University's Kimmel Center, Veritas Prep MBA Admissions Blueprint will feature a crash-course introduction to the business school admissions process as well as individual access to some of the leading minds in business school admissions consulting. Designed primarily for bankers and other last-minute applicants affected by the economic slowdown, Veritas Prep MBA Admissions Blueprint will give applicants access to proven strategies for acing the business school application and securing coveted spots in leading programs.
"In light of one of the most competitive MBA admissions landscapes in recent history, former bankers and others affected by the economic downturn may find it especially difficult to set themselves apart from a crowded field of similar-looking applicants when they apply to business school," explains Scott Shrum, director of MBA admissions research at Veritas Prep and co-author of "Your MBA Game Plan: Proven Strategies for Getting Into the Top Business Schools."
In addition to a series of general information sessions, registered attendees at Veritas Prep MBA Admissions Blueprint will receive a personalized application advice session with a highly experienced business school admissions consultant who comes from a top business school. Depending on the unique needs of each student, this one-on-one session can help to objectively evaluate their candidacy for particular programs and select the programs that best match their goals, perfect their overall application strategy, review their application essays, or prepare for the business school interview.
The cost of attendance is $250 and space is limited. Online registration is available now at http://www.veritasprep.com/blueprint/ or by phone at 1-800-925-7737.
About Veritas Prep
Veritas Prep is a leading GMAT prep provider that offers effective learning programs to help students improve their GMAT scores and gain admission to the world's best graduate schools. Founded in 2002 by graduates from the Yale School of Management, Veritas Prep offers live GMAT prep instruction in more than 70 cities worldwide, as well as interactive online courses. In addition to the most comprehensive GMAT prep courses available, Veritas Prep offers industry-leading admissions consulting to applicants seeking admission to the world's most competitive MBA programs and law schools.
Contact:
Lisa Weiner
303.433.7020
lweiner@csg-pr.com
Sunday, November 9, 2008
UCLA B-School Sees a Surge in Applicants
With financial markets crumbling and capital for startups harder to find, what should would-be entrepreneurs do? For a growing number, this might be just the time to head back to the classroom. Judy Olian, head of the business school at the University of California at Los Angeles, says that applications typically increase during bad times. "When the market contracts in terms of employment, people come to school," says Olian, dean of the UCLA's Anderson School of Management. While it's too early to say just how much bigger the applicant pool will be this year, she says "we have preliminary indications it's up."
Chances are, a good number of those applications are coming from Asia. UCLA Anderson is popular among students from there, says Olian, who was in Hong Kong on Oct. 27 on an trip to promote partnerships with Asian schools. UCLA Anderson is partners with 17 schools in Asia, including four in Japan, four in China, three in India, and two in Hong Kong. Those connections help boost the popularity of the school in Los Angeles: Last year, 25% of UCLA Anderson's 3,700 applicants came from Asia. "It's a robust applicant pool," she says.
One reason for the school's popularity, Olian believes, is UCLA Anderson's highly ranked entrepreneurship program. Compared with other parts of the U.S., "Los Angeles is a much more entrepreneurial economy," she says. That emphasis on entrepreneurs "suits this part of the world," Olian believes, pointing to the importance of private business in the rise of the Chinese economy. "China's ascendancy has to do with entrepreneurs and taking risks, so in that sense there's a kindred spirit with the California risk-taking spirit."
Deepening Gloom
There are some things about launching a startup that not even the best B-school can teach, Olian concedes. "Nobody can inject you with risk tolerance or preference," she says. Still, Olian argues there's plenty that aspiring entrepreneurs can get from an MBA program. "There are a variety of ingredients in the entrepreneurial process that can be learned," she says. For instance, students can gain insights on how to test ideas, develop business plans, attract capital, market products, and structure deals.
Business schools can also teach would-be entrepreneurs about another, less appealing, topic: What happens when things go bad. "Entrepreneurship requires a high level of tenacity in the face of failure," says Olian. That's why a good entrepreneurship program will, among other things, "prepare people for the risk of failure, the likelihood of failure."
The deepening gloom about the global economy might make the odds of failure seem even higher for many young Asian entrepreneurs, but Olian says there's reason to be hopeful. Opportunities and rewards for creativity are going to be there in spades," she says. Despite the huge losses suffered by investors, "it's not as if there's isn't money," she says. "There's a lot of money waiting on the sidelines for the right ideas and the right time to get into the markets.".
Chances are, a good number of those applications are coming from Asia. UCLA Anderson is popular among students from there, says Olian, who was in Hong Kong on Oct. 27 on an trip to promote partnerships with Asian schools. UCLA Anderson is partners with 17 schools in Asia, including four in Japan, four in China, three in India, and two in Hong Kong. Those connections help boost the popularity of the school in Los Angeles: Last year, 25% of UCLA Anderson's 3,700 applicants came from Asia. "It's a robust applicant pool," she says.
One reason for the school's popularity, Olian believes, is UCLA Anderson's highly ranked entrepreneurship program. Compared with other parts of the U.S., "Los Angeles is a much more entrepreneurial economy," she says. That emphasis on entrepreneurs "suits this part of the world," Olian believes, pointing to the importance of private business in the rise of the Chinese economy. "China's ascendancy has to do with entrepreneurs and taking risks, so in that sense there's a kindred spirit with the California risk-taking spirit."
Deepening Gloom
There are some things about launching a startup that not even the best B-school can teach, Olian concedes. "Nobody can inject you with risk tolerance or preference," she says. Still, Olian argues there's plenty that aspiring entrepreneurs can get from an MBA program. "There are a variety of ingredients in the entrepreneurial process that can be learned," she says. For instance, students can gain insights on how to test ideas, develop business plans, attract capital, market products, and structure deals.
Business schools can also teach would-be entrepreneurs about another, less appealing, topic: What happens when things go bad. "Entrepreneurship requires a high level of tenacity in the face of failure," says Olian. That's why a good entrepreneurship program will, among other things, "prepare people for the risk of failure, the likelihood of failure."
The deepening gloom about the global economy might make the odds of failure seem even higher for many young Asian entrepreneurs, but Olian says there's reason to be hopeful. Opportunities and rewards for creativity are going to be there in spades," she says. Despite the huge losses suffered by investors, "it's not as if there's isn't money," she says. "There's a lot of money waiting on the sidelines for the right ideas and the right time to get into the markets.".
Four Truths About Today's MBA
http://www.businessweek.com/bschools/content/nov2008/bs2008114_924879.htm?chan=bschools_bschool+index+page_top+stories
Until this year, you could say with near certainty that an MBA from a well-respected business school was a ticket to a good job and a respectable salary.
But with the financial crisis, a lot of those certainties are gone. Looking at the business school landscape, however, you can say at least four things with confidence.
1. You will face more competition for slots
Business schools aren't increasing their class sizes to accommodate the anticipated surge in applications. This can only mean that in a year when more people are applying to business school, admissions will be more competitive and a smaller percentage of applicants will get in.
The Graduate Management Admission Council (GMAC) reports a jump of more than 11% in the number of GMAT tests taken this September compared with a year earlier. And schools report an increase in interest—both at information sessions and in online discussion forums and blogs.
For those students who think they can bank on getting into a middle-tier school, think again. If getting in has become harder across the board, students will likely apply to more schools to increase their chances. With a fatter stack of applications to choose from, middle-tier schools could shock prospective students with rejection letters they didn't expect.
One silver lining: For top students, getting into the elite business schools may not be any harder. After all, says Peter Johnson, the executive director of admissions at Berkeley's Haas School of Business' full-time MBA program, "An increase in the number of applicants does not mean an increase in the quality."
2. International students are going to find loans tough
International students face a new obstacle after the rigorous process of getting into a B-school has long passed. With the credit crunch, student loan programs are tightening up or disappearing entirely. For instance, this fall, Citibank (C) cancelled its CitiAssist loan program. That means many international students are out of luck unless they have lived in the U.S. or have a co-signer here.
The cutbacks have some administrators stumped. Rosemaria Martinelli, admissions director of the University of Chicago's Graduate School of Business, says that fixes to the problem are only short term and the school is still searching for a solution. Still, Martinelli remains committed to a diverse student body.
Besides the near impossibility of getting loans, international students face difficulties after they get their degrees. In a weak market, where companies have the luxury of sifting through more applicants, international students may find it even harder to obtain scarce H1-B work visas.
The end result: the continuation of a trend in which more and more students are choosing to go to business school in their home countries.
3. Quitting a job is risky
People in steady, well-paying jobs have always had to weigh the benefits of quitting to attend business school. This is especially true in a down economy, when no one knows what the job market will look like in two years. Viable options now include either putting off the MBA or joining a part-time program while staying employed.
According to Judith Hodara, admissions director at the University of Pennsylvania's Wharton School, prospective students most frequently ask about opportunities for summer internships and post-graduation employment and are both "nervous" and "concerned."
Traditionally, students who quit jobs at the start of a recession graduate with an MBA when the economy is in an upswing. But no one is able to predict with certainty how long this recession will last.
Erin Nickelsburg, admissions director at the University of Wisconsin-Madison's School of Business, said that predictors of the "opportunity cost" of going to business school in a downturn have been skewed by the apparent end of big salaries and juicy bonuses in investment banking.
Still, Nickelsburg warns that opportunities could be missed, as well. "Not making an investment in yourself can turn around and haunt you when the economy goes back up," she said.
4. The learning is still valuable
While the return on investment on an MBA is still up in the air, no one is disputing that what you learn in business school will be extremely valuable as the economy recovers. Case studies have new meaning, now that executives face tougher decisions and large-scale business problems.
According to Chicago's Martinelli, now is a "cool time to study this, learn from this position, and figure out how you can add value"—meaning it's a great time to be able to learn about not just hypothetical but real issues.
Still, students may need to adjust their career goals and possibly their salary expectations. "This is a good time to park yourself in an MBA program and build up your portfolio of intellectual capital," says David Wilson, GMAC's president. "Graduates will emerge in two years or so and be in a different market."
Until this year, you could say with near certainty that an MBA from a well-respected business school was a ticket to a good job and a respectable salary.
But with the financial crisis, a lot of those certainties are gone. Looking at the business school landscape, however, you can say at least four things with confidence.
1. You will face more competition for slots
Business schools aren't increasing their class sizes to accommodate the anticipated surge in applications. This can only mean that in a year when more people are applying to business school, admissions will be more competitive and a smaller percentage of applicants will get in.
The Graduate Management Admission Council (GMAC) reports a jump of more than 11% in the number of GMAT tests taken this September compared with a year earlier. And schools report an increase in interest—both at information sessions and in online discussion forums and blogs.
For those students who think they can bank on getting into a middle-tier school, think again. If getting in has become harder across the board, students will likely apply to more schools to increase their chances. With a fatter stack of applications to choose from, middle-tier schools could shock prospective students with rejection letters they didn't expect.
One silver lining: For top students, getting into the elite business schools may not be any harder. After all, says Peter Johnson, the executive director of admissions at Berkeley's Haas School of Business' full-time MBA program, "An increase in the number of applicants does not mean an increase in the quality."
2. International students are going to find loans tough
International students face a new obstacle after the rigorous process of getting into a B-school has long passed. With the credit crunch, student loan programs are tightening up or disappearing entirely. For instance, this fall, Citibank (C) cancelled its CitiAssist loan program. That means many international students are out of luck unless they have lived in the U.S. or have a co-signer here.
The cutbacks have some administrators stumped. Rosemaria Martinelli, admissions director of the University of Chicago's Graduate School of Business, says that fixes to the problem are only short term and the school is still searching for a solution. Still, Martinelli remains committed to a diverse student body.
Besides the near impossibility of getting loans, international students face difficulties after they get their degrees. In a weak market, where companies have the luxury of sifting through more applicants, international students may find it even harder to obtain scarce H1-B work visas.
The end result: the continuation of a trend in which more and more students are choosing to go to business school in their home countries.
3. Quitting a job is risky
People in steady, well-paying jobs have always had to weigh the benefits of quitting to attend business school. This is especially true in a down economy, when no one knows what the job market will look like in two years. Viable options now include either putting off the MBA or joining a part-time program while staying employed.
According to Judith Hodara, admissions director at the University of Pennsylvania's Wharton School, prospective students most frequently ask about opportunities for summer internships and post-graduation employment and are both "nervous" and "concerned."
Traditionally, students who quit jobs at the start of a recession graduate with an MBA when the economy is in an upswing. But no one is able to predict with certainty how long this recession will last.
Erin Nickelsburg, admissions director at the University of Wisconsin-Madison's School of Business, said that predictors of the "opportunity cost" of going to business school in a downturn have been skewed by the apparent end of big salaries and juicy bonuses in investment banking.
Still, Nickelsburg warns that opportunities could be missed, as well. "Not making an investment in yourself can turn around and haunt you when the economy goes back up," she said.
4. The learning is still valuable
While the return on investment on an MBA is still up in the air, no one is disputing that what you learn in business school will be extremely valuable as the economy recovers. Case studies have new meaning, now that executives face tougher decisions and large-scale business problems.
According to Chicago's Martinelli, now is a "cool time to study this, learn from this position, and figure out how you can add value"—meaning it's a great time to be able to learn about not just hypothetical but real issues.
Still, students may need to adjust their career goals and possibly their salary expectations. "This is a good time to park yourself in an MBA program and build up your portfolio of intellectual capital," says David Wilson, GMAC's president. "Graduates will emerge in two years or so and be in a different market."
Thursday, November 6, 2008
Booth Donates Record $300 Million to Chicago Business School
Investor David Booth, who credits his success to the ``life-changing'' experience studying at the University of Chicago Graduate School of Business, donated $300 million to the school, the largest gift in the university's history.
The business school, which will be renamed in honor of Booth, may use the funds for any purpose, such as attracting new faculty and expanding its campuses overseas, the university said yesterday in a statement.
Booth, 52, is the chief executive officer of Dimensional Fund Advisors Inc., with $140 billion under management, according to the investment company's Web site. He received a master's degree in business administration from Chicago in 1971. He said the theories he learned from Eugene Fama, a finance professor at the school, inspired him to start his Santa Monica, California- based company in 1981, and have been instrumental in its success.
``It would be hard to find anyone who benefited more from a University of Chicago education and from the faculty at Chicago than I have,'' Booth said in the university's statement reporting the gift. ``The school is already in a strong position. This gift is intended to help it keep moving forward.''
The University of Chicago, like other universities, is concerned the current financial crisis may hurt its endowment by lowering returns and deterring donors, said Steve Kloehn, a spokesman for the school, in a telephone interview.
Topping Rockefeller
Booth's gift is three times as large as the $100 million that retired banker David M. Rockefeller Sr. gave to Harvard University in Cambridge, Massachusetts, in April to finance studies abroad and advance the arts, and more than twice the record $125 million that the Swiss philanthropist Hansjoerg Wyss gave Harvard last month to fund a bioengineering institute. It is the largest gift to any business school, Kloehn said.
Other major gifts to universities from individual donors include $400 million in 2007 from John W. Kluge, former chairman of Metromedia International Group Inc., to Columbia University and $350 million from International Data Group Inc. founder Patrick J. and Lore Harp McGovern to the Massachusetts Institute of Technology in 2000 to fund research on the human brain.
The University of Chicago business school's past and current students and faculty have won 25 Nobel Memorial Prizes in economics led by the late Milton Friedman, the late Friedrich Hayek, and Paul Samuelson.
`Life-Changing'
``The very first course I took at the University of Chicago was taught by Eugene Fama and it was a life-changing event for me,'' Booth said in the statement. ``I remember Professor Fama standing up the first day of class and saying `This is the most practical course you will ever take,' and it turned out to be true. We built Dimensional Fund Advisors around his set of ideas.''
Fama, 69, who has been referred to as the father of modern finance, is best known for his theory that capital markets are so efficient they embody the collective wisdom of all buyers and sellers, according to the university. In 1980, Fama accepted Booth's invitation to put his theories to work as a member of the management committee of Dimensional Fund Advisors. He thanked Booth today for what he called an incredible gift.
The company, founded in a brownstone in Brooklyn, promotes itself as investing in ``the science of capital markets'' rather than speculation about how the market will perform, according to the Web site.
Booth is a trustee at the University of Chicago. He is also a trustee of the endowment association that raises funds for the University of Kansas in Lawrence, where he obtained his undergraduate degree.
The University of Chicago dates from 1892, when it was founded by John D. Rockefeller, who was then embroiled in an intense public debate over monopolistic business practices at Standard Oil Co.
Friedman Looms Large
For 30 years, starting in 1946, the university's economics department was dominated by Friedman. He won a Nobel Memorial Prize in economics for showing, among other things, that consumers decide to save money on the basis of expectations for what they'll earn over their entire lifetime, not on short-term fluctuations that may be prompted by government attempts to fine- tune aggregate demand. He also advised such free-market, limited government advocates as Barry Goldwater, Ronald Reagan, and Margaret Thatcher.
After Friedman left for the Hoover Institution at Stanford University in 1977, the limelight shifted to such finance professors as Fama.
Booth's donation isn't related to the proposed Milton Friedman Institute for the study of economics, the subject of a faculty controversy. While advocates of the institute wish to honor Friedman, critics say the institute would represent a misuse of university funds and may fail to embrace a range of economic ideas.
Friedman's influence still made itself felt during a ceremony today announcing the gift.
``Together, we will do great things for the world's market- oriented economies,'' Ted Snyder, the business school's dean, said today while thanking Booth.
The business school, which will be renamed in honor of Booth, may use the funds for any purpose, such as attracting new faculty and expanding its campuses overseas, the university said yesterday in a statement.
Booth, 52, is the chief executive officer of Dimensional Fund Advisors Inc., with $140 billion under management, according to the investment company's Web site. He received a master's degree in business administration from Chicago in 1971. He said the theories he learned from Eugene Fama, a finance professor at the school, inspired him to start his Santa Monica, California- based company in 1981, and have been instrumental in its success.
``It would be hard to find anyone who benefited more from a University of Chicago education and from the faculty at Chicago than I have,'' Booth said in the university's statement reporting the gift. ``The school is already in a strong position. This gift is intended to help it keep moving forward.''
The University of Chicago, like other universities, is concerned the current financial crisis may hurt its endowment by lowering returns and deterring donors, said Steve Kloehn, a spokesman for the school, in a telephone interview.
Topping Rockefeller
Booth's gift is three times as large as the $100 million that retired banker David M. Rockefeller Sr. gave to Harvard University in Cambridge, Massachusetts, in April to finance studies abroad and advance the arts, and more than twice the record $125 million that the Swiss philanthropist Hansjoerg Wyss gave Harvard last month to fund a bioengineering institute. It is the largest gift to any business school, Kloehn said.
Other major gifts to universities from individual donors include $400 million in 2007 from John W. Kluge, former chairman of Metromedia International Group Inc., to Columbia University and $350 million from International Data Group Inc. founder Patrick J. and Lore Harp McGovern to the Massachusetts Institute of Technology in 2000 to fund research on the human brain.
The University of Chicago business school's past and current students and faculty have won 25 Nobel Memorial Prizes in economics led by the late Milton Friedman, the late Friedrich Hayek, and Paul Samuelson.
`Life-Changing'
``The very first course I took at the University of Chicago was taught by Eugene Fama and it was a life-changing event for me,'' Booth said in the statement. ``I remember Professor Fama standing up the first day of class and saying `This is the most practical course you will ever take,' and it turned out to be true. We built Dimensional Fund Advisors around his set of ideas.''
Fama, 69, who has been referred to as the father of modern finance, is best known for his theory that capital markets are so efficient they embody the collective wisdom of all buyers and sellers, according to the university. In 1980, Fama accepted Booth's invitation to put his theories to work as a member of the management committee of Dimensional Fund Advisors. He thanked Booth today for what he called an incredible gift.
The company, founded in a brownstone in Brooklyn, promotes itself as investing in ``the science of capital markets'' rather than speculation about how the market will perform, according to the Web site.
Booth is a trustee at the University of Chicago. He is also a trustee of the endowment association that raises funds for the University of Kansas in Lawrence, where he obtained his undergraduate degree.
The University of Chicago dates from 1892, when it was founded by John D. Rockefeller, who was then embroiled in an intense public debate over monopolistic business practices at Standard Oil Co.
Friedman Looms Large
For 30 years, starting in 1946, the university's economics department was dominated by Friedman. He won a Nobel Memorial Prize in economics for showing, among other things, that consumers decide to save money on the basis of expectations for what they'll earn over their entire lifetime, not on short-term fluctuations that may be prompted by government attempts to fine- tune aggregate demand. He also advised such free-market, limited government advocates as Barry Goldwater, Ronald Reagan, and Margaret Thatcher.
After Friedman left for the Hoover Institution at Stanford University in 1977, the limelight shifted to such finance professors as Fama.
Booth's donation isn't related to the proposed Milton Friedman Institute for the study of economics, the subject of a faculty controversy. While advocates of the institute wish to honor Friedman, critics say the institute would represent a misuse of university funds and may fail to embrace a range of economic ideas.
Friedman's influence still made itself felt during a ceremony today announcing the gift.
``Together, we will do great things for the world's market- oriented economies,'' Ted Snyder, the business school's dean, said today while thanking Booth.
Sunday, November 2, 2008
The Admissions Interview: Your Questions
During every business-school admissions interview, there's a moment where the tables turn. Usually, it's near the end, after you've been probed ("What sets you apart?") and prodded ("How was the workforce?"), and you're ready to head home. "So," the questioner chirps, "do you have anything to ask me?"
This is, of course, an optional request. But it's also an opportunity to make an impression, or blow your chances, says Randall Sawyer, director of admissions at Cornell University's Johnson School of Business. "You have to be prepared," says Sawyer. While asking smart, informed questions can set you apart, soliciting information that's readily available on a school's Web site ("What's your class size?") might irritate your interviewer.
What constitutes a "good" question? BusinessWeek recently spoke with several private consultants and deans of admission, all of whom recommended a variety of questions. Following are a selection, and some tips on how to ask them. And remember, these are general guidelines; the most impressive inquiries are case-specific.
What to ask deans, board members, and other officials:
In your opinion, what really sets this school apart?
Officials know this is an important inquiry, especially if you're choosing between multiple schools. To win points, Sawyer suggests prefacing your question with some original thought (e.g., "I've read that Professor X just received the Nobel prize" or "As an entrepreneur, I was impressed with your 'Fund My StartUp Program"). Otherwise, you may get the retort: "Well, what do you think sets this school apart?"
Can you talk a little about the student job search?
When you're about to drop $100,000-plus on an MBA, you're entitled to ask about career prospects, especially during the current financial crisis. But tread carefully, says Chioma Isiadinso, the CEO of Expartus, an admissions consulting company. Putting an official on the spot ("Can your school find me a job?") is awkward and offputting. Before you broach the subject, show enthusiasm ("I've heard great things about your alumni network") and emphasize that you're willing to be proactive.
For students, current and former:
How have you most benefitted from attending this school?
This question is crucial, especially if the interviewer pursued your concentration. According to Sawyer, it shows that you're "in the game, and interested in success." Be careful with phrasing, though: "How have you most benefitted?" is much more engaging (and much less skeptical) than "Have you benefitted?"
What was your favorite class? Who were your favorite professors?
O.K., these two are pretty obvious. But they're still good bets, says Dawna Clark, director of admissions at Tuck School of Business. Students (and former students) love to impart wisdom, especially with like-minded interviewees. Give them time to shine, and everyone wins: They'll get to relive a positive academic experience, and you'll pick up some inside information.
What's a typical day like?
Beyond engaging your interviewer, this question shows you care about more than academic factoids, says Linda Abraham, president of Accepted.com, an online hub for college counseling. After all, you're applying for an experience. It's only human to care about the little things, like when and where you'll eat, sleep, learn, and let loose.
For anyone:
Is there anything else I can further address?
This should be your final question, says Beth Flye, the assistant dean and director of admissions at . It's proactive, it's accommodating, and it's a great way to hint that you're eager to attend (as opposed to, say, asking when you'll get your acceptance letter). Also, on the off-chance that you made a mistake on your application, this request could spawn a shot at redemption.
This is, of course, an optional request. But it's also an opportunity to make an impression, or blow your chances, says Randall Sawyer, director of admissions at Cornell University's Johnson School of Business. "You have to be prepared," says Sawyer. While asking smart, informed questions can set you apart, soliciting information that's readily available on a school's Web site ("What's your class size?") might irritate your interviewer.
What constitutes a "good" question? BusinessWeek recently spoke with several private consultants and deans of admission, all of whom recommended a variety of questions. Following are a selection, and some tips on how to ask them. And remember, these are general guidelines; the most impressive inquiries are case-specific.
What to ask deans, board members, and other officials:
In your opinion, what really sets this school apart?
Officials know this is an important inquiry, especially if you're choosing between multiple schools. To win points, Sawyer suggests prefacing your question with some original thought (e.g., "I've read that Professor X just received the Nobel prize" or "As an entrepreneur, I was impressed with your 'Fund My StartUp Program"). Otherwise, you may get the retort: "Well, what do you think sets this school apart?"
Can you talk a little about the student job search?
When you're about to drop $100,000-plus on an MBA, you're entitled to ask about career prospects, especially during the current financial crisis. But tread carefully, says Chioma Isiadinso, the CEO of Expartus, an admissions consulting company. Putting an official on the spot ("Can your school find me a job?") is awkward and offputting. Before you broach the subject, show enthusiasm ("I've heard great things about your alumni network") and emphasize that you're willing to be proactive.
For students, current and former:
How have you most benefitted from attending this school?
This question is crucial, especially if the interviewer pursued your concentration. According to Sawyer, it shows that you're "in the game, and interested in success." Be careful with phrasing, though: "How have you most benefitted?" is much more engaging (and much less skeptical) than "Have you benefitted?"
What was your favorite class? Who were your favorite professors?
O.K., these two are pretty obvious. But they're still good bets, says Dawna Clark, director of admissions at Tuck School of Business. Students (and former students) love to impart wisdom, especially with like-minded interviewees. Give them time to shine, and everyone wins: They'll get to relive a positive academic experience, and you'll pick up some inside information.
What's a typical day like?
Beyond engaging your interviewer, this question shows you care about more than academic factoids, says Linda Abraham, president of Accepted.com, an online hub for college counseling. After all, you're applying for an experience. It's only human to care about the little things, like when and where you'll eat, sleep, learn, and let loose.
For anyone:
Is there anything else I can further address?
This should be your final question, says Beth Flye, the assistant dean and director of admissions at . It's proactive, it's accommodating, and it's a great way to hint that you're eager to attend (as opposed to, say, asking when you'll get your acceptance letter). Also, on the off-chance that you made a mistake on your application, this request could spawn a shot at redemption.
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