Watch The MBA Show Episode 10 - Get your MBA on Facebook

(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.

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:

http://www.facebook.com/LSBFGlobalMBA?v=app_4949752878

there's an article about it here: http://bit.ly/cQFiRg

(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.

Watch Episode 9 of The MBA Show | | Job Interview Horror Stories

(1) Introduction

(2) Headlines: Everyone is #1
Princeton Review's Ranking of best MBA programs

Best Administered	Harvard University
Best Campus Environment	UCLA
Best Campus Facilities	Bentley University
Best Professors	University of Virginia
Greatest Opportunity for Minority Students	Howard University
Greatest Opportunity for Women	Simmons School of Management
Most Family Friendly	Brigham Young University
Best Career Prospects	Harvard University
Most Competitive Students	Vanderbilt University
Toughest to Get Into	Stanford University
Best Classroom Experience	Cornell University

(2) Optional Headline: Republicans Gain Control of the House and weaken Democrats in the Senate.

Reuters: “The split between the House and the Senate is likely to cause gridlock, and analysts say Congress might only pass mandatory spending bills and non-controversial measures.”

Reuters: “Republican Agenda:  Freeze Government Hiring, End Gov’t Control of Fannie and Freddie, Scale back spending $100 billion.”  Lower demand for housing, lowering prices

Obama’s Agenda

(3) Beacon Hill Social Club Newsletter: “Tom Rose and Miro Kazakoff as The Ambiguously Gay Duo.  Check out www.thembashow.com for the latest ambiguously gay scenes.”

I can’t believe this!  You know what this means?  We have been mentioned in the media!

(4) Many of you are grappling with interviews.  So we have a special segment Today.  Nabil Laoudji is “MBA Storyteller” at http://www.mbastoryteller.com/.  He brings his experience to TheMBAShow, with this piece on Job Interviewing.

[Play Video]

That was Nabil Laoudji.  You can see more of his work at http://www.mbastoryteller.com/

The only thing sexier than getting an MBA, dropping out of an MBA program.  

Nabil has taken a leave of absence from his MBA to

(5) Contest Announcements: MBA M-Prize Re: Allan’s Email

http://www.managementexchange.com/m-prize/mba-m-prize

(6) Jargon: 5 Words at B-School that have lost all meaning

We will now be holding a funeral for five words at B-school that have lost all meeting.

Miro, is dressed a little informally.  But changes into a black t-shirt, and yamaka.  Tom says, well I’m dressed for a banking interview, which fortunately is also appropriate for a funeral.

Synergy
Leadership
Innovation
Development
“Building on your last point” (Followed by anything irrelevant.)

(7) Business School Tip of the week:  The Panic Schedule
From Cal Newport, best study blogger out there.
Make it visual and go into panic mode

(8) What's on your Radar
Miro: Nothing
Tom: Maine Brewers Festival

Watch Episode 8 of The MBA Show | Course Packs on iPad

(1) Introduction

(2) Headlines: NYU Stern is Testing Course Packs on iPad
1st program-wide test.

Kernal: It’s about time!!!  When are the rest of you idiots jumping on board.

It’s the technology?

Why has this taken so long and why hasn’t this exploded?  People are the limiting factor, not technology.

What is this a test of?  Students obviously want this.  No-brainer.  This is really a test of publishers. (NOT USABILITY)

This isn’t going away.  All publishers have to jump on board now.  Even if the worst cash scenario comes to pass, the publishers have to join up anyway.

(3) Jargon: DRM (Digital Rights Management)

Not a b-school term.  But super important for the industry.  (publishing and music)  This relates to the control of data in the world.

(4) Business School Tip of the week:  Your Linked in Profile is more important than your paper Resume.

Kernal: Linked in adds a layer of social information which makes it more valuable

It’s verifiable and therefore more accurate

It’s standardized and easier to use

It’s readily available without a process

Those 10 people that you claim you managed, for some reason can not be identified in reality.

(1) Complete your profile.  People are searching for you.  Can they find you?

(2) Write your profile from reader’s perspective.

(3) LinkedIn your whole class.

(4) LinkedIn quickly and liberally

(5) Before meetings or interviews, check linkedin about the person you are meeting

(5) What's on your Radar
Miro: Rally to Restore Sanity  (http://www.rallytorestoresanity.com/)
Tom: CEO Reception

Watch Episode 7 of The MBA Show | Columbia Stinks

(1) Introduction

(2) Headlines: INSEAD CREATEs MBA BOND FOR STUDENT LOANS

kernal: Good branded schools get better

What's going on: Insead is working with prodigy finance to release a bond to investors that is collateralized by student loan payments. Listed on Irish Stock Exchange.

Good for international students and schools that can afford it (those with great brands, rich alumni, and high student earning potential on exit.)

* Easier to get loans, visas, and jobs.
* School gets dollars and engaged alumni.
* This is ONE more thing that makes is hard for second tier schools to compete.

(3) Jargon: tranche
-Used in structured finance to talk about slicing up something into different segments of risk.
e.g. The INSEAD Bond for 200 loans is sold in 100 tranches that are ordered by what order people get paid in
-You can use this colloquially to refer to anything that is divided up.
-This is a great word to use to sound if you know finance

(4) Rule of the week
Columbia Students Must be reminded to bathe
-HBS student John Kramer brough this Gawker article to our attention
-Memo went out to Columnbia Investment banking society in response to complaints
§ Brush your teeth regularly, or have a mint/mouth refreshers before going to recruiting events (avoid chewing gums)
§ Carry anti-perspirant with you if you are worried about sweating. Don't wear too much cologne/perfume
§ Professional haircuts
§ No backpacks with you
§ Men – no tacky cufflinks or watches (with no crazy patterns, silver is preferable to gold)
§ Women – if it rains, do not show up in rain boots, no matter how cute you think they are

Miro: none one should have to be told this
Tom: looks matter
Miro: what do I care what other people look like
Tom: important for the school, cite rule 1, 80/20 interviewing the school

Miro: does that mean I have to stop wearing t-shirts
Tom: Match the image

Rule 2: “Looks Matter”
Pick the right look for what you want to convey and the situation

Story from John Kramer, at HBS
http://gawker.com/5666747/columbia-business-school-students-must-be-reminded-to-wash-themselves?skyline=true&s=i

(5) Business School Tip of the week: When you get a business card, write who it is on the back immediately. Then, when you get home, you throw it into a giant stack that you keep somewhere.
Miro Prompts: so you don’t keep them in any order?
Tom: Actually, I keep them in time order.
Tom: It has but 1 weakness: Your wife will complain about the stack.

(6) What's on your Radar
Miro: Performing a production of MacBeth
Tom: Doing improv

Watch Episode 6 of The MBA Show | We're All Getting Jobs

(1) Introduction

(2) Headlines: "BofA stops all foreclosures in US"
Why?  Because banks don't know who owns mortgages.  So much auto-trading, that owner not clear.  Shit-storm coming down the media pipe.  BOFA: to get ahead of story, let's announce really really shocking news.


Take aways: If you go to work for a really large corporation, what the general, stupid, idiot public things about your company matters.  It's completely irrational.
Small companies have always known this.
Now that the gov't is medling
Though this feels disconnected, this is just a larger version of, viral bad stories.  What WAS private, will be more and more public.
I think that public viral news is going to usher in a new wave of good citizen corporation.
Miro, all that goodwill, will just be a number in an excel model some day.


(3) Howard Says (Picture needed): "If you don't come in on Saturday, don't bother coming in on Sunday!"


(3) My trip to the career center:


Employment forecast looks great:


Cheer: We're all getting jobs!!!  


Miro: True everywhere or just at sloan?


Tom: We'll know more after the meeting of the B-7 in the coming months.  Coverage on MBA-span


How the career center sees itself to the students and companies.  Their eyes are on the 10 year horizon, but the students all have their eyes on the 1 year horizon.  "Don't shit where you eat becomes, don't shit where people will be eating next year."


RULE 1: We invoke "The campfire rule"  leave the place better than or equal to how you found it.



(3) Business School Tip of the week:  Figure out what the fuck you want, and then go for it full on.  You have unbelievable resources available at your disposal if you ask.  But you have to ask the right way, you have to be convincing, and you have to be committed. 

(5) Jargon: Use Case

(6) What's on your Radar
Miro: 
Tom: 


Future week:
Woman sues City Group citing list of sexist things that were said to her.
MBA Blog: Researching luxury yachts.

Watch Episode 5 of TheMBAShow | Whipped Cream Bonanza

Tom and Miro tangle about the value of the Executive MBA ... and then all heck breaks loose over a rogue can of whipped cream.

Ideas and Script for Episode 5

(1) Introduction

(2) Headlines:
WSJ Executive MBA Rankings: WSJ announces Best Executive MBA Programs
Wharton's Number 1, Wharton's Number 1.
1. Wharton $150k
2. Olin $99k
3. Thunderbird $90k
4. USC $100k
5. Northwestern $153k
-Based on perception and surveys primarily
If you're also on the top 10 MBA's list, the premium for your exec MBA is $50k


I only have one regret about B-school.  Penniless, wallet-draining sensation from a truly great MBA program.

Wharton: Every other weekend.
$150k dr. evil


Miro: Exec MBA is worthless
Tom: Not worthless if you have a clear objective (i.e. find a start-up partner).
Miro: Exec MBAs are good for full-time MBAs, because they're more likely to hire MBAs later.
Tom: We're flooding the market with lesser-educated people.


Bag of chips, technique. - Same label, less product.

(3) Business Porn
Banker fired from a UK investment bank for an interesting search term in Bloomberg.  "Where is a good strip club?" "Where is the nearest place to canary wharf to buy porn?"
Training session on how to use Bloomberg help.  Bloomberg turned him into the bank.  He was actually interacting with a live service person.
Source: The London Evening Standard
Where is the ABSOLUTE CLOSEST PLACE to where I am right now.
LITERALLY business porn - How can we get MORE porn at our business.

(4) Food, Glorious Food!
1. Know the head count
2. Ask for a Quote - not an order
3. Negotiate around price per head, not total price
4. If you have a budget, tell them your budget
5. Do price research before hand (get a price and headcount from another event)
6. Pizza is the cheapest, but people will bitch


(5) Jargon: WYSIWYG
Miro--What You See is What You Get

(6) What's on your Radar
Miro: Yet another wedding.
Tom: A shower


Future week:
Woman sues City Group citing list of sexist things that were said to her.
MBA Blog: Researching luxury yachts.