The MBA Admissions Studio

I spent a few minutes today catching up with the Stanford GSB Dean’s “State of  the School, Fall 2010″ message, which anticipates the GSB’s move into the new Knight Management Center in Spring 2011.

What caught my attention, from an MBA admissions perspective, is the inscription on the new cornerstone of the new center. How is that for clarity in what Stanford GSB is looking for? Dreaming up — and presumably then building — new things is, literally, the cornerstone of the institution.

So if you are applying to Stanford GSB, you need to have some idea of what (ambitious) business or organization or innovation you may dream up, why it’s important to the world, why you are the person to do it, why SGSB can expect you to succeed, and a sense of how they can help you.

Is this saying, “think small?” Is this saying, “comfortable career track?” “Sure, we want to educate you so you can be a trader in an I-bank, or telecoms strategy consultant…?” I think not. They are not demanding mainline entrepreneurship exactly, but they are demanding those ready, willing, and able to build big new things in the world.

It’s also worth spending the 4 minutes it takes to watch Dean Saloner’s presentation, below, because he integrates key elements in the business school education framework, from perspective to foundations to critical-analytical thinking to innovation to personal leadership in a very joined-up way. As an applicant, it’s worth pausing to think how this simple pattern can be used to structure stories and events in your own life that you are trying to tell Adcom about.

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Tags: b-school, innovation, Knight Management Center, Leadership, MBA Adcom, MBA Dean, Stanford GSB

Unless you are independently wealthy or have been lucky enough to work for yourself all your life (and most of us fall into neither category,) chances are you’ve had a bad boss or two along the way.

You know the type: the boss who sets ambiguous tasks and then micromanages them. Who offers a grunt when you ace a project, but chews you over for 20 minutes because of a minor error. The one who will take credit up the chain for great work you do, but won’t cover for you when deadlines slip. And so on.

I was reminded of this in profiling a client recently. He had been doing everything right, killing himself to complete complex operations/IT projects, plus studying nights for an M.S. degree and co-managing a young family. His boss committed all of the above evils and more. She would casually set him ‘by-close-of-business today” tasks late in the day, interfere in carefully nurtured team relationships he had built up over months, use fear of termination to crack the whip, and the list goes on.

At the first possible moment, he quit. Yay.

Listening to this phase of his life, I felt need to reach for the Kleenex. But I could offer some consolation. After the event, what he had was fabulous experience for his future role as a manager and leader, and it would play well in an MBA admissions essay. Why? Because if you have experienced having your motivation sapped, having to walk on eggshells around an idiot who controls you, having to grind your teeth in frustration at not being able to implement an obvious innovation — that is, if you have been poorly managed yourself, you have excellent insight into what not to do. And therefore, reversing all that a bad boss does, you have a good idea what kind of boss you should be.

Further, for MBA admissions essay or interview purposes, your bad-boss story is “proof” you have been through fundamental learning about management, have developed insights into how to handle people under you, and are therefore ready to manage effectively when your turn comes. If you have a story like this, tell it.

Tags: b-school, employee motivation, innovation, management, mba interview, MBA leadership, profiling, Teamwork

The soul-searching at Harvard Business School over business ethics and the relationship between business and society has been widely documented. From Anderson to Enron to Lehman Bros., risktaking, dodgy, and sometimes outright criminal companies have been loaded with HBS alumni (as well as many from other schools as well, let’s not forget.) But somehow, of all business schools, perhaps because of its self-proclaimed “leadership and influence” focus, Harvard sees itself as needing to lead a new era in business-society relations.

With this as background, a recent Economist piece views the appointment on July 1st of new dean Nitin Nohria as part of a general HBS ethics-focused shake-up.

“Mr Nohria is the first HBS dean who was not born in North America. He is also the first who has come to the job having said that business faces a ‘crisis of legitimacy’ and that business education is at an ‘inflection point’…

“Mr Nohria’s first task is to try to restore faith in business in general and in business schools in particular. This means improving two things, he reckons: “competence” and “character”. He wants the faculty to focus more on the risks of clever financial techniques; they will have plenty of case studies to choose from. He also wants HBS to renew its commitment to shaping its students’ characters as well as their intellects. He has long argued that business people should regard themselves as members of a profession. He supports a movement by students to adopt a business equivalent of the Hippocratic oath… (For more on the MBA Oath see here.)

“Mr Nohria’s other great passion is for super-charging innovation at HBS. This will involve making the school even more globally connected than it already is: one of Mr Nohria’s first acts as dean was to embark on a whistle-stop tour of the world’s business hot-spots. More ambitiously, he wants to rethink the school’s hallowed teaching methods. Since the 1920s, HBS students have pored over case studies of business decisions. The new dean wants them to take part in live case studies—to take themselves to the Midwest or Mumbai and spend time working for real companies. This answers one of the most persistent criticisms of business education: that it is too abstract. Mr Nohria wants his students to get their boots dirty.”

So there is clearly a manifesto from the top of HBS to (1) address character issues and define competence more broadly, that is, to exclude absurd risk-taking; (2) to increase the school’s active global connections, including in emerging markets, in the spirit of innovation, and; (3) to extend the case-method to include “do-it-don’t-just-think-about-it” immersion.

Nobody is suggesting that the Dean makes admissions decisions directly. But HBS Adcom as a whole can hardly be immune to the strong winds of this new directive either. Therefore, applicants who (while staying true to themselves!) show evidence of good character, a measured risk-taking profile, global-innovative intent, and readiness to go beyond the ivory tower during their studies and afterwards, will be doing themselves a favor.

Tags: ethics, Ethics & Community, goals, Harvard, innovation, Leadership, MBA Admissions, risk, top-10 MBA

The Economist recently ran an obituary of Swatch magnate Nicolas Hayek, and this offers me a concrete example to explain why management consulting is a weak long-term goal for MBA admissions.

(Yes, I’m always pushing clients to give clear examples or anecdotes to back up their MBA admissions claims. So this is me “practicing what I preach.”)

In 1982 Hayek was brought in as a management consultant by a group of banks to advise them on the sale of Switzerland’s last big watchmaking conglomerate which they had bailed out a few years earlier. But, rather than merely consult on sale-exit strategies, Hayek created and led a group of industrialists who bought the conglomerate from the bankers, and built it into the world’s largest watch company, with almost a quarter of the global market, with Swatch as the lead brand.

As the Economist says: “Mr Hayek’s strategy of making cheap watches more cheaply and expensive watches more desirable helped lift the rest of the Swiss watch industry, which is once again leading the world. Last year Swiss firms exported nearly 23m timepieces worth more than $12 billion, a figure that would undoubtedly have been far, far smaller had Mr Hayek stayed in management consulting.”

The point is: Hayek had two careers ahead of him in 1982. He could have stayed a management consultant, advising on deals, for a fairly prestigious, reasonably well-paid life. Or he could do what he did: turn the ailing consortium around through industry-innovative operations, cost restructuring, and marketing management, to totally renew the Swiss watch industry. He was a leader, innovator, decision-maker, and business-builder at the ultimate level.

If Hayek was to have presented his career options to Harvard or INSEAD or LBS, etc., which of the two routes do you think the b-school Adoms would have favored more?

Don’t get me wrong. It’s fine to say you want to spend some time in MC in the short term, taking advantage of the rapid exposure to different industries and skills. But at the end of the day, management consultants are advisors, not doers. They are always the bridesmaid, never the bride. If Hayes had stayed a management consultant his value to everyone (including his MBA alma mater) would have been a fraction of what it became, and his obituary would never have been splashed across the world’s financial media.

When the admissions committee of a top MBA program is looking at you, they want to think that you may possibly one day be somebody like Hayes (in your own industry and in your own way.) If your career goal is consulting itself, you are telling them there is no chance of that.

Tags: ambition, banking, career plan, Harvard, innovation, INSEAD, LBS, Leadership, management consulting

Wharton’s MBA essays for 2010-11 are great; and very significantly reformulated from previous years, demanding new comment and analysis here.

The required question:

What are your professional objectives? (300 words)

This is in some senses the classic Why-an-MBA? question. What’s new is that it is really short, particularly when compared with the longer questions that follow. The implication is that Wharton, following HBS and others, are putting less and less emphasis on what applicants claim they will do on graduation. They expect to heavily influence that. It is important that you have direction and motivation, but they reckon, and they’re right, that 300 words is more than enough to get that across. Notice that there’s very little space for Why (an MBA) Now? or Why Wharton? If there’s something important to say to that, you’ll have to be really succinct, or work it into one of the other essays.

The optional questions — respond to three of the following four:

1. Student and alumni engagement has at times led to the creation of innovative classes. For example, through extraordinary efforts, a small group of current students partnered with faculty to create a timely course entitled, “Disaster Response: Haiti and Beyond,” empowering students to leverage the talented Wharton community to improve the lives of the Haiti earthquake victims. Similarly, Wharton students and alumni helped to create the “Innovation and the Indian Healthcare Industry” which took students to India where they studied the full range of healthcare issues in India. If you were able to create a Wharton course on any topic, what would it be? (700 words)
   
2. Reflect on a time when you turned down an opportunity. What was the thought process behind your decision? Would you make the same decision today? (600 words)
3. Describe a failure that you have experienced. What role did you play, and what did you learn about yourself? How did this experience help to create your definition of failure? (600 words)
4. Discuss a time when you navigated a challenging experience in either a personal or professional relationship. (600 words)

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Question 1 does a number of things worth noting. First it’s mining for what you, specifically and uniquely, bring to the program. It does not automatically follow that you would create a class around your speciality, but this will be the case for many applicants, and so is a place to show your special attributes, connections, or interests. The question also therefore allows you to show your “fit with Wharton,” not only what you will contribute but what you would like to learn or experience. Further, as the language of the question suggests, it looks toward your innovativeness, which is a core value in MBA admissions. Your choice of class must show innovation with reference to the curriculum as it stands. This of course demands that you demonstrate knowledge of what is already on offer and where the gaps might be. Finally the question tests your realism and knowledge of how b-school electives and/or off-site experiential programs work. You might say “I’ll create a class that goes to visit Nelson Mandela to learn to balance business and policy objectives” but that would show total naivete as to how things really work and what’s really possible, and your application would be in the bin.

Question 2 is a deep, almost wickedly deep, dive into your personal stuff. They are probing the tissue of your motivation, your self-awareness, and self-understanding. The actual opportunity turned down is far less important than why you choose one thing over another, which should takes Adcom right to who you are as a person and what your core values are. Don’t disappoint them in this. Obviously when you turned down an opportunity, it was for a good reason, either a better opportunity or a family obligation or something like that. So what is at stake here too is your judgment and maturity. The question specifically looks to that in asking if you would make the same choice again, in other words, “how have you grown?”

Question 3 is the similar to last year, but the sub-question is new. It is a classic failure question. I’ve written a lot on how to manage failure questions (click on ‘failure essay’ tag,) and in my book. The sub-question that asks about your definition of failure, deepens the motivational, maturity, introspection angles to the standard MBA admissions failure essay. Everyone fails. Not everyone knows why, or demonstrates the self-knowledge or emotional resilience that is core to “bouncing back.”

Question 4 is a fairly typical “challenging situation” question. Of the set it is the one that most clearly asks about your relationship with others — and therefore your role in groups, teams, and so on, although it does focus you on a particular event and a specific 1-to-1 relationship. The ability to manage relationships is key to leadership, and therefore key to business success, and thus key to Wharton Adcom.

All in all, Wharton 2010-11 has put out a really state-of-the-art set of questions. Varied. Behavioral. Hard. But don’t be scared of hard questions. If they were easy you wouldn’t be able to separate yourself adequately from the crowd of pleasantry-and-platitude writers.

Tags: career plan, Failure essay, goals, Harvard, HBS, innovation, judgment, maturity, MBA Adcom, MBA alumni, mba curriculum, Teamwork, Wharton