The MBA Admissions Studio

In differential calculus an inflection (or inflexion) point is the point on a curve where the curvature changes sign and therefore shape.

Lives and careers have inflection points too: those moments where, due to events or new insight, suddenly everything is turned around or looks different.

Inflection points can be “achievements” but they don’t need to be. Often they are mixed, bitter-sweet moments of self-understanding and emotional arrival. Communicating these moments is key to convincing Adcom of your unique, personal, individual motivation for MBA study and beyond.

Sometimes when I talk to clients at the profiling stage of their application — when we sift through their past and present scouring for admissions value — they will blow right past an inflection point such as a change of college major, or death of a parent, or visit to the national gallery in Berlin (or whatever it may be) and I have to slow them down to fully explore and capture the value therein.

Due to confidentiality, I can’t tell their stories, but I did notice an example used recently on the Businessweek MBA Journal site where a now-current INSEAD student shares his “road-to-Damascus” moment:

“A favorable USD/GBP exchange rate and good salaries enabled us to enjoy a hedonistic lifestyle in New York, which included fancy dining, live music and sporting events, and parties on most nights. Yet, during all of this, I witnessed an act of kindness that changed the way I view the world and my aspirations. This moment of humanity would ultimately drive me to pursue an MBA at INSEAD.

“Midway through my training in New York, my friends and I went to see a Yankees baseball game. We caught the subway to return home and sat down next to a homeless man named Sam. Two stops later, another homeless man, J, boarded and sat next to Sam. They proceeded to talk and we overheard parts of the conversation. It became apparent that Sam and J had never met before. Then, Sam asked J if he would like to share some dinner, and J gladly accepted. Sam pulled out a tin of Vienna sausages and some dry crackers, which they shared. We watched all this and lumps gathered in our throats. Sam had no wealth and bleak prospects, yet was willing to share his food with a complete stranger. Would we have shared something worth as much to us with another stranger?

“This act of generosity humbled my friends and me…. I was inspired to seek more in life than those parties and materialistic pursuits. I didn’t want to waste my precious time, and I wanted a challenge. I wanted to make my mark on the world.”

Powerful stuff. Note that you don’t need a bleeding heart story to have an inflection point, or to get into business school. But you do need to be sensitive to the real inflection points in your life, which by definition will be highly individual to you, and how they have shaped your aspirations. This is the key to being real and therefore being believed when you share your goals with the MBA Admissions Committee in your application essays or interview.

Tags: Businessweek, INSEAD, MBA admissions committee, MBA goals essay

The military style and ethos of management is usually best avoided in MBA admissions, because it is not subtle or complex enough for the real world of business. If Adcom is interested in your leadership style (and they are) they are interested in how you are able to motivate people without threats or force or heirarchy. To go up to someone’s desk and scream in their ear is hardly going to work in your office. In business, pulling rank usually does more harm than good.

However, occasionally there is something to be gleaned from the military, and here is a video worth two minutes of your time. It features Eric Greitens, a former Navy SEAL, now CEO of ‘The Mission Continues.’

He describes his epiphany during ‘Hell Week’ when it dawned on him: “This isn’t about me. This test is about my ability to lead and be of service to the people who are in that tent right now.” The irony is he then falls asleep…

Jokes aside, here’s the point from an MBA admissions perspective:

A lot of applicants describe corporate hazing of one type or another. That is, the long hours worked, vertical learning curves ascended, all-nighters pulled, jetlag endured, and so on — in terms of personal gain. “I suffered, I showed perseverance and came though it, and learned a lot, and now I’m a better person.” That’s okay as far as it goes.

But the real admissions jackpot comes from being able to see it and frame it in group terms. How the ‘pain’ was all about bearing the load with the rest of the group, and achieving goals for the group. That is, how your effort was about more than just you, therefore implying what you will do with your MBA will also be more than just about you.

In this regard, note items 2 and 3 on the MIT Sloan guidance (which enumerates principles equally true of all top tier MBA admissions.)

“We seek to enroll well-rounded individuals with the following characteristics:

• Success in your professional endeavors (whether you are well into your career or a college senior)
• Ability to collaborate to accomplish a common goal
• Drive to inspire others to achieve success
• Vision to seek alternative solutions to existing challenges
• Pursuit of meaningful goals”

Tags: b-school, management, MBA applicant, MIT Sloan, team player, Teamwork

B-schools with luxury of choice of whom to accept into their MBA classrooms have always valued diversity in the matriculating class. The news is this trend is strongly on the up.

Not only are schools admitting more minorities and foreigners and women – both HBS and Wharton hit record numbers of female enrollment with their current incoming classes of 2013 – but b-schools are also showing clear intent to accommodate “experience” diversity applicants, that is those with part or all of their work experience in non-traditional backgrounds such as social sciences, creative industries, non-profits, real estate, hospitality, urban planning, fashion, and so on.

The take-away is that male applicants wholly enclosed by cookie-cutter engineering or finance backgrounds are still getting in, but not nearly as easily as before, despite having good GMAT and GPA numbers, good recommendations, and generally having apparently made the “right” career moves. Reading the MBA admissions boards, there are many, many stories that tell of apparently perfect candidates with perfect GMATs getting dinged all over.

Why is this happening? First, schools have always seen and offered valued in diversity in the matriculating pool – which broadens the classroom perspective, fosters real-world peer-to-peer learning enrichment, and which brings MBAs face-to-face with other points of view and thus sharpens their listening and thinking skills. But now, as the business school industry itself gets more competitive, schools need to raise their game on diversity too.

Another force behind diversity in MBA admissions is the slow-burning image problem of business schools and the MBA degree itself in the last 10 years, starting with Enron, through Arthur Andersen, to banks and the Credit Crunch and debt-crisis…. rightly or wrongly it appears to outsiders that a lot of MBAs from top schools are involved in decision-making that is less than fully ethical (and some got bailed out by the taxpayer!) In short, schools are looking for MBAs who will be brand champions of better ethics, and they are not so convinced anymore they will find them in among standard finance, accounting, or consulting-based applicants.

Finally, the perceived value of innovation in industry is at an all-time-high. To build big new businesses, from facebook to Groupon to whatever will be next, you have to not just think big. You have to think different. With this in mind, it’s not surprising that Adcom will rate an architect or a journalist or similar as valuable in the class in terms of challenging mindsets and staid practices.

The best response? If you are relatively rich in diversity, make sure Adcom “gets it” – what it is and why it offers interest and value to the school. If you are not, that is if you are a standard finance or consulting or IT jock – you have a harder job. But not impossible. The quest is to find an angle (everyone has at least one) in your personal or professional experience that offers a distinctive point of view among the MBA cohort.

Last year I had a standard finance-banking background client. For a while I despaired, but in profiling I discovered he had spent six months in a rotation in Perth, working on deals and risk-mitigation in the booming (Australia-China) mining resources sector. This was enough to make him interesting, and combined with the rest of his solid profile, got him the admissions offers he was looking for.

See also this post.

Tags: FaceBook, finance MBA, GMAT, GPA, Groupon, HBS, Innovation in MBA, MBA Admissions, MBA degree, MBA diversity, profiling, Wharton

It’s busy season, so I have to blog short, but here’s what I have to say today as MBA application Round 1 deadlines approach — and this is to my clients as much as anyone else out there (although the clients have heard it before):

“You are not applying to join a holy order. You are not applying to Amnesty International. You are not applying to save the rainforests or unmelt the ice caps or feed the starving or create Middle-East peace.

“You are applying to business school.”

At business school, yes there will be electives around well-meaning things, but by far the main agenda is to present you with and test you on classic curriculum stuff to do with finance and operations and marketing and strategy and so on. They will not teach you to weave sisal or wash Aids babies.

Now of course you are a good human being. And you should certainly communicate to Adcom (with evidence) that you are a good human being, which includes being concerned about major domestic or world problems. And not just concerned: wanting to play your part in fixing them too. It’s fine to want to and plan to improve social welfare at home or abroad.

But you are applying to business school.

So the material question is: how will you make a business or take a business in the direction of social welfare and human development? How and why do you need business and management skills to make the difference you plan to make?

Here’s a clue to hitting the right note: one person or a group of well-meaning people can make a little difference somewhere. But a business, or a large organization innovatively led, professionally managed, properly financed and running at optimum efficiency can make a whopping difference. We’re talking “order of magnitude.”

Best of all, your MBA application will retain its credibility. If you say you want to run an education business in Ho Chi Minh City, Adcom will believe you. If you say you want to teach long-division to Vietnamese orphans, they won’t.

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Tags: admissions red flags, electives, finance, marketing, operations, social welfare, strategy, volunteering

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

There’s a heartwarming story for MBAs and MBAs-to-be in yesterday’s Financial Times by Herminia Ibarra, Urs Peyer and Morten T. Hansen, professors at INSEAD. (I must say, surely only among academics does it take three (3) people to write one short Op-Ed piece in the FT, but I digress.)

They say: “The global recession may be almost over but the debate rumbles on. How much were MBA-trained executives really to blame? As MBA professors, we heard arguments that we had been teaching the wrong models, neglecting ethics, forgetting common sense, sitting in ivory towers made of spreadsheets and generally nurturing greed. We listened to the charge that business schools were guilty of short-term thinking, especially when evaluating leadership. MBA graduates, so the argument went, were looking for quick riches.

“So, when we came up with the idea of a ranking of chief executives based on performance over an entire career, we also decided to check the myth of the value -destroying MBA against a large and meticulously compiled data set.

“When you rank the top chief executives in the world, based on return on shareholder investment and change in market capitalisation over their entire time in the job… four of our top 10 have the letters M, B and A after their names. Could it be possible that this much-criticised degree helps a business leader to add long-term value after all?

“Our analysis of 1,109 chief executives from 1995 to 2009 found that those with MBAs performed, on average, better than those without. The difference was not large but it was statistically significant. When we drilled down one more level, we discovered that those who had reached the position of chief executive before the age of 50 benefited particularly from a business school education. In fact, on average, having an MBA sends such individuals a full 100 places higher on our list.

“Of course, the term average is important. There are many high-performing chief executives without an MBA. But the overall tendency among the business leaders we analysed is for an MBA to correlate with a higher position in the ranking, especially for those who get the top job at a comparatively young age.

“Our data set does not explain why this should be the case but there are some obvious benefits to going to business school: an MBA gives you better all-round skills; it buys you credibility and it allows you to build a personal power alumni network.”

Full text here.

Tags: alumni network, Financial Times, FT, global recession, INSEAD, mba, ranking

In dealing with MBA admissions clients, I’m always looking for ways to push them beyond the ordinary, both in terms of how they frame their life to date and what they plan to do in the future. I also counsel applicants to ‘think like a CEO-in-waiting,’ that is, ask: what would a senior executive do here? What would she say? How would he apply?

The poster child for the pathbreaking senior executive is business legend Steve Jobs, Apple CEO. I recently came across a site called MBA Naukri that has collected Job-isms, some of which I have reproduced here as guidance in ‘reaching for more’ in an MBA application.

1. There is no shortcut to excellence. “Use your talents, abilities, and skills in the best way possible and get ahead of others by giving that little extra. Live by a higher standard and pay attention to the details that really do make the difference. Excellence is not difficult – simply decide right now to give it your best shot – and you will be amazed with what life gives you back.”

2. The only way to do great work is to love what you do. “If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. I’ve got it down to four words: ‘Do what you love.’ Seek out an occupation that gives you a sense of meaning, direction and satisfaction in life. Having a sense of purpose and striving towards goals gives life meaning, direction and satisfaction. It not only contributes to health and longevity, but also makes you feel better in difficult times.”

3. Create something to give back. “You know, we don’t grow most of the food we eat. We wear clothes other people make. We speak a language that other people developed. We use a mathematics that other people evolved… I mean, we’re constantly taking things. It’s a wonderful, ecstatic feeling to create something that puts it back in the pool of human experience and knowledge.”

4. Fail and rebound. “I’m the only person I know that’s lost a quarter of a billion dollars in one year… It’s very character-building.Don’t equate making mistakes with being a mistake. There is no such thing as a successful person who has not failed or made mistakes, there are successful people who made mistakes and changed their lives or performance in response to them, and so got it right the next time. They viewed mistakes as warnings rather than signs of hopeless inadequacy. Never making a mistake means never living life to the full.”

5. Dent the universe. “We’re here to put a dent in the universe. Otherwise why else even be here? Did you know that you have big things to accomplish in life? … Don’t be trapped by dogma, which is living with the results of other people’s thinking. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.”

Granted, it’s much easier to say stuff like this if you’re a billionaire celebrity not a cubicle slave. But you can see that if Jobs himself were applying for an MBA he would not be saying something nebulous like: ‘upon graduation I plan to go into management consulting and then transition to be a manager in the IT sector.’ He’d tell you exactly how he was going to dent the universe, why that was a worthwhile and necessary thing to do, and why it was his deepest inner purpose to do it.

Tags: ambition, billionaire, CEO-in-waiting, creativity, excellence, goals, graduation, mba

I’m only speaking from a point of expertise about Harvard. It’s where I went to school, so I’m speaking as an alum and also as an admissions director. The case method, which is our pedagogy, is truly distinctive. We’re educating leaders to be effective. Leaders operate in gray areas. It’s not about the specific analytical tools you have in some imaginary toolbox. It’s developing the judgment to know which tool to use when, to be comfortable in uncertainty, to be able to make decisions day in and day out with imperfect information, not enough information, never enough time, and to be able to take a stand and to be able to communicate it to others and to bring people along with you.

Tags: case method, Harvard, Leadership, MBA Admissions Consulting

Hey it’s August, and even though it’s definitely, seriously, MBA application season we can still have a little fun, right?

Here’s a video from Comedy Central / The Daily Show, featuring intrepid reporter John Oliver who enlists the “help” of a former convict to convince hold-out MBA students at MIT and Harvard to sign the MBA Oath.

In an interview of the type made famous by Sasha Baron Cohen (and with the same Oxford-dragged-through-Essex accent) Oliver talks to Columbia GSB ethics professor Bruce Kogut (he really exists, bio here,) who has not the faintest idea he’s been set up.

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Of course, ethics is a real and important topic to get right in MBA admissions. For a copy of the oath, and what it means for MBA applications this year, see previous post here.

Tags: b-school, ethics, Harvard, HBS, MBA Oath, MIT Sloan, top-10 MBA

There are many aspects of success in a competitive MBA admissions process that don’t change whether we are in a boom or a bust, whether Wall Street is loved or hated, whether globalization is in vogue or not. For example, evidence of senior leadership responsibility successfully handled will never go out of style in a MBA essay.

But there are also more transient social or business attitudes “in the air” in any year which the applicant should be aware of and ready to address in MBA application essays or interviews, in order to maximize chances of success. These may change every few years. In previous times times, key applicant success attributes have been pointers to future business success, or new venture creation, or raising shareholder value.

This year, in the wake of the financial meltdown and global recession, much of which (rightly or wrongly) is blamed on MBAs, the accent is squarely on business ethics and long-term sustainability of decisions. These issues have been on the rise for a while, but their sudden prominence is demonstrated in the emergence and rapid spread of the “MBA Oath.”

The oath is the brainchild of a few HBS students, but has since been pledged by current and graduating MBAs from most major institutions and has garnered heavy media exposure, for example this story in Business Week and this audio clip in the Economist.

What does it mean for this year’s applicant? First let’s look at the oath

THE MBA OATH http://mbaoath.org

“As a manager, my purpose is to serve the greater good by bringing people and resources together to create value that no single individual can create alone. Therefore I will seek a course that enhances the value my enterprise can create for society over the long term. I recognize my decisions can have far-reaching consequences that affect the well-being of individuals inside and outside my enterprise, today and in the future. As I reconcile the interests of different constituencies, I will face choices that are not easy for me and others.

Therefore I promise:

• I will act with utmost integrity and pursue my work in an ethical manner.
• I will safeguard the interests of my shareholders, co-workers, customers and the society in which we operate.
• I will manage my enterprise in good faith, guarding against decisions and behavior that advance my own narrow ambitions but harm the enterprise and the societies it serves.
• I will understand and uphold, both in letter and in spirit, the laws and contracts governing my own conduct and that of my enterprise.
• I will take responsibility for my actions, and I will represent the performance and risks of my enterprise accurately and honestly.
• I will develop both myself and other managers under my supervision so that the profession continues to grow and contribute to the well-being of society.
• I will strive to create sustainable economic, social, and environmental prosperity worldwide.
• I will be accountable to my peers and they will be accountable to me for living by this oath.

This oath I make freely, and upon my honor.”

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MBA applicants should take all this on board very carefully, and look for past experiences that resonate. Adcoms won’t be looking for these words and phrases exactly (to use them verbatim would be an amateurish mistake) but it’s certain that they closely agree with these statements in general, and will be looking harder than ever for people who appear to understand this side of business administration and who will stand up to ethical tests through their careers. Remember Adcoms have taken plenty of stick too for filling classes with greedy self-profiteers, and are under more pressure than ever to pick a better kind of person.

Some of the Oath is just the usual good-citizen catechism: serving the greater good, demonstrating integrity, pursuing work in an ethical manner, balancing interests of shareholders, co-workers, customers and the society (triple or quadruple bottom line), not advancing ones own narrow ambitions, upholding the law, reporting accurately, and being accountable.

At a minimum it is important for MBA applicants to endorse this framework, or not seem to run foul of it. But this is common stuff. Other attributes of business and management ethics are perhaps less well known or defined, and here an MBA applicant can really score using the principles revealed in the Oath. Note that the Oath also sets these ethical goals:

• bringing people and resources together to create value no single individual can create alone
• creating value for society (not just self or company)
  
• developing other managers under your supervision
• appreciating the far-reaching and long-term consequences of decisions, and acting accordingly
  
• pursuing sustainable economic, social, and environmental prosperity (not just fast or big prosperity)
  
• distributing benefits of prosperity worldwide
  

This is a good starter list of ethical attributes that many applicants will miss, but which provide subtlety and differentiation for applicants who understand them, and who can find evidence of them in their personal and professional history.

Tags: ambition, business administration, Business Week, Economist, Ethics & Community, HBS, MBA Adcom, MBA Essays, mba interview, MBA Oath, sustainability, triple-bottom-line