(1) Headlines: “Get Your MBA on Facebook”
-This story is from Katherine Molina from MIT Sloan
-London School of Business and Finance is offering classes for free entirely on Facebook. You can watch lectures, participate in discussions and even take exams online.
(2) Career Path You should know about: Search Fund
(3) Jargon: Black Monday
(4) Contest Announcements:
(5) Business School Tip of the week:
(6) What's on your Radar
-This story is from Katherine Molina from MIT Sloan
-London School of Business and Finance is offering classes for free entirely on Facebook. You can watch lectures, participate in discussions and even take exams online.
Miro: So, my MBA is worthless now?
Tom: I disagree, the value of your MBA is transitioning from information based to coaching based.
Miro: So I’ll be coached by a huge ex-football player from nebraska?
Tom: @11: “You call this a P&L?!?! I wipe my ass with P&L’s better than this.”
Miro: Stunned shock and awe.
Tom: Actually, something inbetween. Coach not INSANE, but help you get better at making really tough management decisions, such as firing someone.
Miro: Do what do I, do now?
Tom: Take advantage of simulations, coaching, & experience based classes. Take less lecture.
Miro: eaiser to get info
Tom: Huge Transition in B-schools. Information is becoming comoditized. 101 type info moving out of classroom. Simulation, personal improvement, & coaching moving in.
LINK:
(2) Career Path You should know about: Search Fund
A search fund is: A recent MBA assembles an investor group who puts up $200-500K to support you while you find a company to purchase. When you find that company, those same investors put up the money to purchase the company - usually $2-10M
Tom: Good god, this is too good to be true. This is like funded job search. Where you get to fly around to trade shows and have drinks with people for 2 years. What’s the catch?
Miro: Different kind entrepreneur. Not your idea. Not building Microsoft. Looking for a small business through throwingoff good cash, in a growing market.
Tom: So this is only possible for you if you have tons of brand credibility fairy dust.
Miro: The netowrk
CES at Stanford has created a How-To guide for search funds. You can find it here: http://www.gsb.stanford.edu/ces/resources/search_funds.html
(3) Jargon: Black Monday
Tom: Isn’t that the biggest online sale day of the year?
Miro: Actually I’m talking about the B-school “Black Monday”, Monday after thanksgiving everyone broken up with their significant other from before business school
(4) Contest Announcements:
- Harvard Business Plan Competition Entry from due Dec 17: They give you $1000 for entering this one. Need at least one HBS Students - http://www.hbs.edu/entrepreneurship/bplan/
- Ross Renewable Energy Case Competition - Jan 27-28; check the website for further details - at least 2 first year MBAs needed - Deadline MId December http://ross.campusgroups.com/energy/recc-home/
- George Washington International MBA Case Competition - school must apply by Dec 4, $2500 -http://business.gwu.edu/grad/casecomp/
- MIT $100K Executive Summary Competition - at least one student from a New England School - Dec 2 - www.mit100k.org
(5) Business School Tip of the week:
Find the classes that let you practice those skills you are learning. Take advantage of the chance to screw it up now.
Other: Does this contradict picking classes based on prof?
Other: They are highly correlated because good professors know this and build experiential learning into the curriculum.
(6) What's on your Radar
Miro: Sales Competition
Tom: I am working all weekend teaching the GMAT.
When filling out an mit mba application, it is important to be thorough. Most application require a filing cabinet of different documents including but not limited to a resume, a personal essay, a cover letter, letter of recommendations, transcripts, test scores, and an application fee.
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