A financial roasting...

Every week a group of 5 students stand up in front of our Financial Management class to present their analysis of the weekly case. This week was quite typical.

Watching our professor's face as they present reveals little about how he will react upon the conclusion of the presentation. His brow is furrowed. There is a frown on his face. As the presentation progresses, he scribbles madly upon the handout slides, they will soon be unrecognizable due to the sheer volume of ink.

The team works systematically through the slides. One after another they speak in front of the class. They look slightly nervous, but by now, they should know what to expect. The professor is never thrilled with the result.

Last week's comment, "I don't understand why you guys don't include more financials in your presentation. This is fundamentally a finance class."

This week's comment, "I got lost in the swamp of financial calculations."

What I like about our professor is exactly what most people hate. He is direct, to the point and says exactly what he's thinking. Today's gem of a comment during a particularly long-winded question, "is this a speech or a question?"

Our prof is hard to please, but then again, so are clients. Overall, I look forward to class, but I'm literally terrified thinking about the exam. But that is another story.

Talking about Family Business

We are talking about family business in class today! Hurray!

Case competitions - sleep or compete

Case competitions - a lesson in sleep depravation

A few weeks ago I signed onto a case competition team with a few buddies of mine. At the time it seemed like a great idea! 

1. I've never worked with these friends before, but I've seen them in action so this is a great way to test out team dynamics. 

2. Learn about a new industry and meet professionals who are experts within their fields. Amazing networking opportunities. 

3. Work on a real case thus put theoretical MBA knowledge in action. Semi-competitive, medium pressure, "real work". 

The reality come preparation day: 
Too tired 
Too busy
Too much apathy

This case comp was like all others. The assignment came out yesterday, but of course I was in back-to-back classes and meetings from literally 7:30 am until 10:30 pm. 

This morning, after a bright and early 7:30 am class, our group started on the case prep. It went s little bit like this: 

9 am - read case
9:30 - 11 am --> background research and analysis
11 - noon --> analysis
Lunch
12:30 - 4 pm --> brainstorm, argue and idea form
4-6 --> class
6-9 --> work on the deck
Dinner
9:30 --> flash of brilliance
9:30-midnight --> work on deck
Give up

Now I'm at home, going to take a shower and 4 hour nap, then wake, finish deck and get to school by 8 am to rehearse. 

Presentation is some time after 9 am and we'll (hopefully) make it to the second round, thus be done around 5. 

5pm--> team meeting

Home & sleep for 12 hours. 

A marathon of sleep depravation and eventual replenishment. Worth it? We'll see...

Why are some companies terrible at innovation?

Yesterday's Top Manager's Perspective class was focused on how a company should expand - finding adjacencies that leverage the core competency. We determined that this is extremely difficult for some companies and in fact, can destroy value for shareholders as the management pours money into building a new product line. We determined that when management has failed to diversify the portfolio, they should return the earnings to the shareholders so that they can diversify on their own (via investing in other companies).

I left the class thinking about expansion and innovation. In particular, I thought about how difficult it is for management to fundamentally change the goals and operating structure within an organization. Why do managers find enterprise innovation so difficult?

Thankfully, I have Google to thank for the following tidbit of information. The Fortune 1000 Executives Perspective on Innovation finds that 47% of companies do not have a team or process in place to brainstorm ideas and/or evaluate which ones to invest in. Shocking!

While this is not what I was originally looking for, it is still a rather interesting read, so enjoy.

The ultimate irony: attempt to save time results in 10 hour project and little sleep

I'm taking a really neat business design class. We have been learning how to create a visual representation of our ideas. The first assignment - due this morning, was a description of ourselves. The catch?
The description was in the form of a map. Aka, a solar system of characteristics, thoughts, feelings, people and places that are a reflection and/or helped to create us. The assignment was interesting as I ended up doing a bit of soul searching and made some discoveries about myself.

The second part of the assignment was the creation of a non-verbal essay. Same topic. My plan was to create a collage of things that I think best represent me - inner and outer attributes. The best part was I was going to use different materials glued to the board to create a tactile experience as well. I think a physical medium would have been the best way to represent me as I enjoy using all my senses. Did you guess that things didn't work out exactly as planned?

Well, I spent far more time than allotted working on my financial management presentation. I had the materials gathered, However I wasn't able to print the photos that I planned to use. Plus, my computer is still broken so I don't have access to the greater part of my photo collection. Due to time constraints, I opted to make a video as I had been led to believe that with free editing software, editing was going to be a breeze. What a joke. I have a pc, so i used the default software, movie maker. And ran into problem, after problem, after problem. I recorded mini videos on my iPhone so that I could string together moving and still photography - nope! File format not supported. Plan B. I'll import b-roll video from you tube. Nope, can't do that either. In the end, I handed in a truly uninspiring static slideshow. No music either because apparently the iTunes download was too advanced. Seriously. No music - after spending $20 as the track I wanted had to be purchased as an album.

The irony of it all is the fact that this crappy product took 10 hours to put together. In that amount of time I would have had an amazing collage!

Meh! After only 2 hours of sleep, I'm up again and at the airport. Even though I likely failed this assignment, I'm determined to create that collage, just to prove to myself that it would have been great.

Thanksgiving Gets Cancelled

My thanksgiving weekend was cut short after a Financial Management meeting went MUCH longer than expected. Such is life. Thanks to the iPhone Face Time application, I was able to virtually enjoy supper though, as my father called to share the joys of family dinner. It looked delicious. I had a bag of chips to eat and a spreadsheet for company.

The Business Model Canvas Guide

Friday morning is the only day that I have morning class.
9AM - Innovation, Foresight and Business Design.
I'll admit, I'm out of practice trying to catch the bus during rush hour. Last week I tried to drive and ran into a plethora of car trouble, traffic and parking issues. This week I missed the bus.

Sigh

I guess that's what happens when the class content is too long to fit within the scheduled 9:15-11:15 time slot. Typically, it runs from 9-11:30. Luckily, every week, my mind is blown, so I'm happy to spend the extra time.

Today, we had a guest speaker from ennova, a consulting firm that specializes in business model development. We used the Business Model Canvas Guide to contrast the business models of Apple and Blockbuster. Essentially, after looking at every aspect of the respective business models in 2001 and Present day, we were able to see how necessary it is to be flexible in your business model. The model should be fluid and management should recognize the signals that indicate a change in consumer desires, and should reexamine the business model and make appropriate changes as necessary.

the PITCH

Entrepreneurship has an interesting team recruitment process. Much like real life, we each had to pitch a business concept in class. The catch?

We had only 1 minute. Seriously, 60 seconds to pitch our business idea and hopefully attract 3 additional people to work on the idea.

I did my best to stand out. I developed a cute logo, printed in colour, practiced my pitch and presented as enthusiastically as I could. The result? I have managed to recruit 1 of 3 necessary teammates. I now have to convince 2 other people to abandon their ideas and join my team. How stressful!

Come on folks!

Eat your frogs first

I heard a funny expression from our entrepreneurship guest speaker, Sarah Prevette from Sprouter.com last week, 'eat your frogs first.'

I realize that this was not the thrust of her lecture, but for me, it was the most poignant moment in the 20 minute talk. The gist of the expression is to do the things you don't want to do first thing in the morning.

Filling out forms, various paperwork, paying bills... all of the items that you dread - complete those tasks first thing in the morning or else you will be haunted by them forever!

What frogs will you eat today?

Because you can

The theme of today's Innovation, Foresight and Business Design class was, 'because you can.' The example pushed the boundaries of what some people might call appropriate, or what others may call decent. However, to me, it was a hilarious human truism. As the course encourages the use of imagination, I will let you all imagine what the example was.

What do you do 'because you can?'

Course Overview

I have become the blogger that I despise - posting a mere once a week. (Please accept my sincerest apologies!)

I have officially completed the first week of school and I'm pleased to note that I chose correctly - no need for further add/drop!

On the roster for this half:

1. Top Manager's Perspective - this class was the richest in bid points and thus far, well worth it! Beyond the lecture material (so far building and selling your case), we will be meeting with top managers, AKA CEOs, to learn from business leaders. I'm really excited for this course to develop.

2. Financial Management - some of you may be surprised to see a finance course on my schedule, but have no fear, I have chosen well. Financial Management ranked well in terms of student satisfaction. Additionally, the material is much more practical in nature. Plus, it marries finance and strategy together, and strategy is a strength of mine.

3. Entrepreneurship - As I lean toward entrepreneurial projects, this is going to be an extremely useful class. Plus, this is my opportunity to mash all that I've learned from first year into a business plan. Business Planning is, in my opinion, a crucial MBA skill.

4. Innovation, Foresight and Business Design - Despite the somewhat pretentious course title, this is going to be another winner on my schedule as it is all about curiosity and innovation, two of my favourite things. The prof is a wee bit hard to follow, but I'm sure that I'll catch on to his style in no time.

5. Strategic Change and Implementation - This is the one class that I haven't yet experienced as it has an intensive format (think long hours on Friday/Saturday). I'll have more on this one as it unfolds, starting in November.

Nothing hilarious has taken place yet this year. I'm trying hard to not have the 'laisser faire' attitude that some second year MBAs fall victim to, once they have signed their full-time contracts. As I'm leaning toward launching an entrepreneurial venture, I will only be punishing myself by not paying attention and learning this material. Plus, I am currently the only MBA in my family that has not achieved a dean's list ranking (yes, my cousin was a dean's list grad from Columbia in NYC, and my dad was also brilliant in his EMBA class). While I try to not compare myself to others, it is difficult to not want to achieve.

Second Year Begins

One of the things that got me through first year was the assurance that second year is much lighter in terms of work load and deliverables.

Well, I have only completed one class thus far this week, but I have examined the various course outlines, and I think I've been lied to. Thus far, I have noted MANY assignments (both individual, and group based). Additionally, there is still a plethora of reading to be completed and exercises to do pre-class.

I guess the 'light' portion is in understanding what needs to be done and being able to prioritize work. Or perhaps, there is less pressure once students have secured their full time jobs. While some people may feel comfortable relaxing this year, I intend to give it my all as usual. My schedule is such that I will graduate with three additional credits.

This is my opportunity to dedicate myself to learning. This opportunity may never present itself again. Thus, I will make the most of it!

Apparently I look exactly like my photo...

I was surprised this week at orientation camp by the number of people who said hi because they had seen my photograph on this blog. Thanks for reading guys!

Orientation camp was a whirlwind of activities, parties and games based loosely (extremely loosely) on academics. I met so many people, I have no idea how I am EVER going to remember all the names!

The incoming class strikes me as being extremely smart (to be expected), quite social and down to earth. Pretty much everything that I would hope for future Rotman grads.

Groups

Today I spent some time looking at the people who are in my classes this year. As the majority of the classes I chose include group work, selecting people I want to work with is crucial.

It is quite difficult, however! I want to ensure that I have the best possible mix of students in my groups so that I am able to achieve to the highest level. Seriously, I'm going for straight-As this year!

Rotman Rendezvous

Tonight was one of the Rotman Rendezvous events where new students migle with second year students. I love meeting new people thus had a great time. I won't be meeting my first year buddies until later this month and I can't wait. Tonight was all about chatting with old and new friends. Now getting excited about orientation camp!

Family Business

As a student of a premier business school, I am surprised when I encounter confusion about family business. Most recently is the belief that Family Business is the same as Entrepreneurship.

I'm not sure what is at the root of this heuristic, but I surmise it is based on the belief that family businesses are small thus have a lot in common with start up operations.

I know for a fact that this is a fallacy, but I struggle with trying to open people's eyes.

The best I can do is point out large enterprises that were or are still family owned/controlled and hope that people will suspend their beliefs for a few moments to hear me out. Examples such as:

1. CanWest - one of the largest Canadian broadcasters. A large interest is held by the Asper family. In this past year, the company filed for bankruptcy protection.
2. Molson - one of my favourite brewers.
3. Chapmans ice cream - deliciously family run.
4. Rogers - wireless, media, baseball... family?
5. Irving - oil/gas. Family run business.

I ask, no I beg. Please do not allow your assumptions cloud your ability to think critically.

I have made contact

I have officially e-met my first year buddies!

They both seem really nice, as is everyone at Rotman. I cannot wait to meet them in person, but they are both in the process of relocating to Toronto. With all of the changes that a person has to make when going back to school, I am glad that moving was not one that I had to undertake. Packing and cleaning are my nemeses.

My laptop is still broken so I'm working in the Rotman study room. Many of the new first year students are mingling in the atrium. It's great to see everyone all smiles and relaxed. It's a bit of a different scene come the horrors of Q2...

MBA Buddies

Today I find out the names of my 1st year buddies. It seems strange to be an upper year mentor - how time flies!

How did you spend your long weekend?

In Ontario, it's a long weekend. Civic Holiday long weekend to be exact. I'm not exactly sure what the significance of the day is, but any excuse for a long weekend, I'll accept.

Some people have chosen to go cottaging. For those of you not familiar with the practice, cottaging involves sitting in traffic on the highway for literally hours, cursing the slowness and heat of the highway. Eventually, you reach your destination: cottage. This is generally on a river or lake. In the case of my family, on an island. The weekend generally consists of lying on the beach, frolicking in the water, barbecueing and staying hydrated with whatever beverage you choose. It is a time to escape the concrete jungle, as downtown is sometimes referred. To enjoy time with friends and family and to generally relax.

Since I don't have a formal office job this summer, every weekend is an excuse to cottage... except this weekend, alas. I have spent the day analyzing content reports from Google Analytics for my digital strategy project (consulting work). While I'm not baking in the sun, I have been making significant progress. But the sunshine is calling and I am only steps from the Toronto Beach. How can I keep working when I know that the beach awaits?

I need to get my computer BACK!

A few weeks ago, my laptop had an unfortunate run-in with a cup of caramello coffee. I'm sorry to say, the coffee won the battle and my poor laptop was reduced to a mere screen. It did smell deliciously sweet when it heated up though....

I have been using an older laptop ever since, and I don't think I'm a technology whiz or anything. I don't usually need the latest and greatest, but... I HATE THIS OLD MACHINE!

It's slow. It keeps crashing, and worst of all - it doesn't have any of the usual microsoft programs installed. No powerpoint. No word. No outlook. Nothing. Nadda.

At first I thought this would be a great reason to try some of the new web based programs like Google Docs. Free though it may be, it is extremely frustrating as a primary word processor. Microsoft has been raised in my esteem and I cannot wait to get my laptop back.

After hours of fighting with Google Docs, I'm giving up for the night. I don't think this report will be finished until it's official due date of Thursday, despite all my efforts.

I feel a bit betrayed by Google - they've never let me down before. Who knew that expensive software was SO worth it? Lesson learned!!

I am an assistant again...

Not officially, but I am now doing the same work I did 5 years ago on my first day as a media assistant. Requesting media kits, putting together costing sheets and getting copies of magazines sent to review. It's good to know that leaving a senior position to do my MBA has resulted in... junior level work?

Independent study strikes again!

I have enjoyed the experience for the most part, but I miss having a team to work with. A few, short weeks ago, before understanding the scope of the project, I agreed to be a team of 1 as my friends wanted to work in their regular group of 3. Oh how I have come to regret this decision! The majority of the work has been interesting and I have learned as much as I could have hoped, but week after week I noticed that my dear friends in their group of 3 was able to accomplish 3 times as much work as me - time constraints and all.

Thankfully, my media kit requests have all been sent with some prompt replies. I can't help but note that advertising is always the same - it's hard getting my questions answered, but when the client asks jump, I always ask 'how high' and then try to jump a wee bit higher. Oh how I have missed this media planning game!

I can't wait until school starts again so that I can continue with my lofty dreams and aspirations. When working on an ISU, I find that my goals are still FAR out of reach... in fact, I may have moved back a step. Sigh!

Summer winding down? School year winds up!

It's hard to believe that at this time last year, I was in countdown mode. I gave my notice to my bosses 3 months in advance of my departure so that they would have plenty of time to find an appropriate replacement. I was working like a dog trying to get ahead in my projects so that my boss, and friend, would not be stuck holding the bag when my eventual replacement hadn't yet been hired. I was stressed out beyond belief, so much so that I had a permanent eye twitch.

Ahh, the memories. So much has changed!

This summer is relaxed by comparison. I am still working on two projects that are managable in scale. One, the independent study that I have told you a bit about, and the other, developing a digital strategy document for a local business. Both have kept my brain from going to mush this summer, and yet give me time to enjoy the things that I have not focused on in the past year: fitness, outdoors, friendship and family.

All of this rest and relaxation has made me forget that it is almost August and for some, the anticipation of the new year has begun.

Today I met two students who are just starting their Rotman journey. Both had arrived earlier this week from India and are just settling in and trying to get oriented in the city, directions all relate to the proximity to the CN Tower. I am ashamed to admit that I have already forgotten their names - particularly after spending 5 minutes fumbling over the pronounciation.

Student: "It's asdflkasdo"
Me: "Huh?"
Student: "sdflasdfkjo"
Me: "Slower, please"
Student: "Just call me George"

I promise you, I have always been bad at remembering names, but I will get it one of these days.

Next week is Rotman International Orientation, so I'd like to give a warm welcome to all my new collegues. Be sure to remember the feeling you have right now. Anticipation. Excitement. Relaxation. Enthusiasm. Remember it. Hold on tight. Because I promise you, at some point this year you will be sneaking out of class to cry in the bathroom because something doesn't make sense and you'll have forgotten how happy you were to be completing your MBA.

Have no fear. By this time next summer you will once again be bright eyed and bushy tailed. :)

Going Local? Not as easy as you would think!

The web has been hailed as the righteous hero for small businesses. A simple web page opens the door to the world, right? Plus, with the so-called built in accountability, each dollar is stretched as it is easy to measure what works and what doesn't...

But is the picture really all that rosy? Yes, the web has enabled e-commerce, effectively widening your potential market, but for a typical local business, the majority of sales come from closer to home. Take a car dealership for instance, a website is certainly necessary for client research purposes, but the sale will come from an in-store visit.

So... how easy is it for a local business to promote itself locally? When it comes to the web, it's not as easy and accountable as people assume.

As a media planner, I was responsible for national scale brands and had a plethora of tools at my disposal. Typically on a national scale, a company will focus on the major markets and allow spill to fill in the rest. When it comes to online media, looking for websites with a large composition of Canadian visitors (wherever they are located) is easy as the measurement tools are in place with a statistically significant panel in each market.

On the local level, this measurement does not exist. Local companies must rely on Search as their primary or only online marketing tool. Even then, there is only so granular you can get.

This lack of measurement and accountability on the small scale is a shame - particularly for the medium that has spent the last decade thumbing their nose at mass media (AKA: local media) for being wasteful. It is ironic that for a typical small business, without adequate local measurement, digital marketing is a really tough sell.

Preparing for Year 2

You can call me a nerd, geek or keener all you want, but I admit to being excited about second year! I noticed that on RWorld (our online portal) the lecture notes from year 1 were slowly being taken down as the school prepared for a new batch of MBA first years. I now have ensured that I have a complete set of lecture notes saved on my handy USB drive. It took some time, time that I didn't have while the program was in full swing, but thanks to a little bit of diligence, the task is now complete.

Copywriting

For years I had no idea how difficult copywriting actually is.

No longer.

I am sitting in a little cafe in the beaches. Each table is occupied by others with open laptops. It is clear that this is a popular 'office' space in this neighbourhood. Good coffee, non-offensive muzak in the background. I should be inspired.

Why am I not inspired? Where did this writers block come from?

I am in the midst of writing copy for my summer independent study. Who knew that populating a website with important information and product features would be so difficult!

I must get this done! I have only an hour left on my battery and power outlets appear to be at a premium in this location!

Sitting by the phone sucks!

As you know, I had been interviewed for a corporate strategy position with a company that I would love to work for. I was pretty sure that they said they would call regardless, however after waiting patiently by the telephone for 2 days, I emailed my friend who was also a finalist to see whether she had heard. She had. Alas, I was not the successful candidate, but I am very happy for my friend as I'm certain she'll do a fantastic job.

As for me, I'll continue with the independent study and networking. Surely hope remains.

Independent Study - Just like the real world!

After months of "safe" school work, I'm thrilled to be working on a meaningful project again. As I mentioned earlier, as part of an independent study project, a few of my colleagues and I are acting as consultants to a foreign company looking to enter North America. All of the products, 5 in total, are innovative technology products in a variety of sectors. My client (to remain anonymous until the product has launched) is in renewable energy.

This project is quite timely as I have been overly preoccupied with the BP disaster, thus I have developed a personal interest in renewable energy. I now know more about the generation of electricity than ever before. Considering how little of our power is generated using sustainable sources, I'm amazed at the clutter in the marketplace - there are a heck of a lot of players manufacturing, designing & installing energy components and integrated systems.

You'll be happy to know that I've officially culled my list of important players from over 300 to just over 200. What a day!

Independent Study - Hectic, Involve, Interesting, Overwhelming!

I am now on my third week of the independent study - launching a new technology into the North American Market. As it is a real client, I am not permitted to give you specifics on the company name and/or industry, however, I can share some of the activities that I have been involved in over the past 3 weeks:

This phase has been all about the research - specifically analyzing the competitive landsape, developing a list of competitors, buyers etc. Performing an analysis of the product and compare to competitors, developing a list of relevant trade shows, conferences and associations, etc.

Unlike the others participating in this project, I am a lone wolf - AKA, as I was in India, I didn't have the opportunity to see whether any of my other classmates were interested in the project, thus signed up solo. While the project has been extremely interesting, it has also been a heck of a lot of work!

I have been quite thorough in my research and have developed a list of over 300 players in this market. As the next phase is positioning and developing marketing messages and finally launching a website & conducting SEO initiatives, I am now reviewing each and every website.

I wish I could share more info on the project as it is REALLY interesting, but alas, I cannot. Rest assured though, this phase should be the most time intensive - research report is due on Monday!! Eeek!

Interviewing as an (almost) MBA

After much anticipation, I finally had an interview for a position that I have been secretly salivating over.

Here's an excerpt of the job posting:

"Your efforts will be directly tied into the development of new business models and strategies and drive the evaluation of the top new business options"

This morning I had an initial discussion with the Executive Director with whom I would be working. Without jinxing myself, I have to say that I enjoyed this discussion immensely.

Being the nerd that I am, I spent the afternoon looking into the industry and doing a bit of high level thinking on the business projects that we discussed this morning. I also plan to visit a couple of retail locations that carry the product over the next few days to people watch - see how they interact with the product in situ. People watching is one of my favourite passtimes after all.

For the first time, I am really excited about the possibilities for the summer. Keep your fingers and toes crossed for me dear friends - the face-to-face interview is next week! I guess I'd better make some time to review the interview skills documents that were developed by the Corporate Connections Centre.

Interest in Design Thinking on the Rise

Search data is an extremely useful competitive research tool as it shows what people are interested in right now.

Just for fun, I ran 'design thinking' through Google Insights For Search - a free tool that measures the popularity of search words. Great news friends, Design Thinking is increasing in popularity:

Interestingly enough, it's people in the UK and US who are driving these search results. Canada doesn't even register, despite the leadership of the Rotman School!

As for Integrated Thinking? Sorry friends, it has a long way to go - since 2004 there hasn't been enough search volume to even register a blip.

Awards

You will quickly notice that the school does a good job keeping you up to date on recent wins by Rotman students and faculty. Students get copied on press releases.

Today I'm cleaning out my Rotman inbox and thought I'd share some of the awards that have been won by Rotman in the past few months:

Avi Raj, David Shalaby, Castor Hui, Roderick Cheung and Mathew Thomas (MBA) - runners up in International Design Competition www.betterplace.com/handsfreechallenge.

Wenfei Yu (Rotman MBA) & Vincent Cheung (Comp Sci PHD) win first prize in IBK Capital-Ivey Business Plan Competition

Barbara Tassa and Danny Wang (Both Rotman MBA) win third place in IBK Capital-Ivey Business Plan Competition www.iveybpc.com.

Constance Lo, Michael Odam, Mark Kearney and Marc Hyman (Evening MBA) win first place in Cerebration 2010 Business Plan Competition www.nus.edu.sg/cerebration

David Soberman (Rotman Professor) wins 'Best Marketing Case' at 2010 ecch European Case Awards

Gary Latham, Secretary of State Professor of Organizational Effectiveness and Professor of Organizational Behaviour, received the James McKeen Cattell Fellow Award for 2009/2010 from the Association for Psychological Science.

Congrats to all.

MBA Electives

Tomorrow is the day where the results of our first round of electives bidding. Keep your fingers and toes crossed for me - I bid for 9 classes, the maximum I was allowed due to having taken a study tour.

As a quick refresher, each student is given 1000 points to bid toward elective classes. Depending on the number of students who wish to take a particular course, you may be required to bid as high as 500+ points for a single class. Some of the more niche topics require no points. It is a slightly confusing system, but it seems fair - each student must prioratize and bid strategically. I created a really long spreadsheet with every combination of classes that I found interesting and bid accordingly.

I REALLY hope that I bid correctly!

Presentation Success!

Well dears, apparently I panicked for nothing. The presentation was great - I even got voted as having the 'best slide' of the night. The key is pictures, not bullet points. Plus, as I am able to speak fast (yet clearly), I was able to get through the deck in a record 5 minutes!

I will let you in on a little secret - I snuck in an extra slide! So glad no one was counting.

Presentations - In Brief

I am currently working on a status update presentation for my independent study project. We've been asked to present in no more than 6 sides, and 6 minutes what we've done in the past week. This is proving to be extremely challenging as I have a lot to say - as usual!

*sigh* I guess I can keep some of these slides for the final presentation.

Electives

The electives bidding site opens today at 1pm. How exciting!

Much like everything in the MBA, selecting and getting into an elective course is quite competitive. I put a lot of thought into the classes that I want to take, then ranked them in order of importance. Finally, I alloted the number of bid points that I think these classes will require based on their importance to me.

Keep your fingers crossed! I want to get into several extremely popular classes and with a limited number of points, you never know how things are going to pan out!

Satisfaction!

Every once in a while I check out other business school blogs, just to see if what we're doing is similar to what other business students are learning.

On one hand, we're all equal - we're all experts on CAPM, calculating WACC, conducting a SWOT analysis and drawing a supply/demand curve these days. On the other hand, our experience is definitely different, thanks to Integrated Thinking and Business Design - the two things that drew me to Rotman to begin with.

Today, I was trolling the Yale student blog and came across this post: NYT on Integrated Curricula. It was an older post, but seeing as Rotman is known for Integrated Thinking, I clicked to see what it was all about. Low and behold, the post referenced a New York Times article largely devoted to our beloved dean, Roger Martin.

There are few things more satisfying than being a student at a school that is truly on the forefront of business education. Particularly a school that is referenced in an article by another stellar school!

Sometimes, when I'm in the thick of classes, projects, exams, etc, I forget to enjoy what I'm learning. As I'm now enrolled in a single independent study project (NOT A CLASS, as our supervising professor made clear in today's "meeting"), I am going to remember to enjoy the process as much as the outcome.

Rotman International

I have just been skimming through some of the presentations that we saw in India. The companies were extremely candid about their business strategies & challenges operating in India, but all were optimistic about the future.

A sample of the companies that we visited and what they shared:
Ogilvy & Mather: insights into Indian consumers.
EMRI: A not-for-profit emergency ambulance system. Great work bringing quality emergency care to the country.
J Sagar Associates: a look at the complexities of Indian law
McKinsey: India's Economic Forecast
MakeMyTrip.com: An entrepreneurial venture

Seriously, this is just a sample, but I'm pleased to have been part of the tour. There are some pictures posted on the Rotman International Facebook Page if you are interested :)

When your skin prickles

When your skin prickles under the shower, you know you got a bit too much sun! After spending the long weekend at the cottage, sitting on the beach with not enough sunscreen, I am in a wee bit of pain from what can only be described as a wicked sunburn. I shouldn't complain though, it is my own fault for forgetting that while the date says 'May', the sun was shining like July!

The best part about the cottage (other than the sun, sand, and water), is uninterrupted reading time. While I should be unwinding after what I now describe as a torturous 8 months of reading, writing and arithmetic, I found myself curled up on a beach chair reading 'Marketing in the age of Google'. I am a mere third of the way through the book, so I don't have much to say on the topic, other than - who would have thought search could be so interesting? Book review to come.

Coincidentally, tonight I'm starting to work on a research project with Becky Reuber, Professor of Strategic Management, that will involve digital strategy, media planning and search optimization. I'm really excited to get started. Unfortunately, as there is an actual client involved, I won't be able to share much detail (or any detail for that matter).

Home Again, Home Again, Jiggedy Jog

So I didn't blog as much as I had intended in India.
1. Because we were SO BUSY every day! Seriously, hardly any leisure time (not that I'm complaining because the company visits were FANTASTIC!)
2. Because Internet was actually rather expensive in India.
Please accept my apologies for not keeping you entertained with all of my antics over the past 2 weeks - I will try to catch you up on everything that I learned and experienced in India.

But....

Not today...

Today, I have another story to tell you, and it goes a little bit like this:

I met up with a classmate from the India study tour this afternoon for drinks in the sun (I am currently a woman of leisure after all - AKA, still on the hunt for the elusive summer job). We were reminising about the tour - the good, the bad, the ugly, and out of the blue he says something like this,

Friend: "Megan, I have to ask you something."

Me to myself, "OK this is weird"

Friend: "I hope you don't mind, it might be a little bit... personal"

Me to myself, "scrap that. This is DEFINITELY WEIRD"

Friend: "I was talking to my coworker about the trip and...."

Me to myself, "where is this going??"

Friend: "My friend wanted to now everything about the trip and wondered if anyone had blogged throughout the trip, and I discovered your blog - hope you don't mind me asking, but why do you blog?"

Me to myself: "Seriously? Is this the burning, personal question? What a relief!"

So why do I blog? Well, I'm actually not sure, but it definitely is fun to look back at what I wrote, so I hope that you enjoy!

Bombay

I am sitting in my hotel room in Mumbai India after my alarm clock failed to go off. I feel terribly guilty for standing up my friend this morning at 5:30 AM! We were going to go check out a fishing village to see the boats come in - hopefully I can get a rain-check!

I've been in India for the past week and a bit. What a neat country! Delhi was mainly under construction while we were there, but there was a certain energy and optimism everywhere we went - even though we were all under security threats at the time. Let me tell you, there is nothing like waking up to CNN calling where you are 'Terror Central' and reading in the newspaper that an attack is 'imminent'! And yet, life on the streets of Delhi continued as normal!

We spent 2 days in Hyderabad. Not nearly enough time to get the flavour of the city!

Yesterday was our first free day. We went to the Elephanta Caves on one of the 7 islands of Bombay. What a surreal place! It is an island temple that was carved hundreds of years ago out of a solid piece of volcanic rock. Huge statues of the god Shiva were carved into the walls of the temple showing pieces of the legend of his life. Like everything in India, it was an absolute wonder to see. It was EXTREMELY hot for my poor Canadian skin (40+ Celcius plus humidity!), but so very worth it! We then went for a walk along the harbour before calling it a night. Mumbai is positively beautiful!

The trip has been a whirlwind of company visits intermixed with transfer between locations. The companies themselves have been AMAZING! More on that later.

On a final note - Indian food is the best. I've been trying so many new and interesting dishes with names I cannot pronounce. The way the flavours intermix on my tongue is mind blowing! Nearly every meal has been amazing.

We have to buy Internet access in the hotel by the 1/2 hour and I see my time is nearly up. Usually a sign that my blog post is getting a little bit long.

Just your average Friday...

Writing my last exam of year 1. Then flying to India.
You know, the usual. Just your average Friday.

The Operations exam is wee bit terrifying. Yesterday I kept feeling like I was going to throw up while trying to work my way through practice problems. No actual vomit though, so I guess I got my nerves under control. (ish).

What my day consisted of
[x] Clean house (vaccuum, bathrooms, laundry, wash floors, dishes
[x] Pick up ANTI-malaria pills & emergency stomach infection pills
[x] Take Daisy for a long (ok, medium) length walk
[x] Buy batteries for camera & memory card
[x] Pack for 10 days of business formal events, plus a bunch of fun things too
[x] Study for Operations
[x] Have mini-nervous breakdown
[x] Study some more
[x] Watch documentary on India on CBC.ca (quite good)
[x] Pack some more
[x] Panic some more
[x] Come to terms with the possibility that I am not a natural at Operations
[x] Sleep

It was quite a productive day.

PS - I also ate lots of salad & fresh veggies since I'll be avoiding them for the next 2 weeks. Also drank water from the tap, another thing to avoid.

Random Note:

Giardia is a miniature parasite that can infect the water. It's one of the reasons that I plan to brush my teeth with bottled water just in case. What you might not know is that this isn't the first time I've come face to face with this little critter.

When I was a canoe guide, we used to purify the lake water to avoid contracting Giardia. Or, as it's known in Canada, 'the Beaver Fever.'

And now you know.

Sometimes I wonder why I try

I spent more than 20 hours researching and writing my last ethics reaction paper and I got a LOWER mark than on the first reaction paper. I cited 12 sources.

TWELVE!

I thought I had presented rational arguments but I got an average grade which equates to "average – case facts covered and a bit of an analysis and some personal reflection."

I am BEYOND heartbroken.

Just what I need when I am responsible for our group's final case - due tomorrow. I do NOT need this right now. Seriously. Why?

I was going for this: "a truly outstanding paper, well-written and researched, which demonstrates a thorough knowledge of the material, and is supported by examples that clearly support the student’s thoughts and opinions"

Apparently I don't know how to write. What a thing to discover in the final 3 days of school.

Accounting Prowes

FAIL!

Just kidding....

The exam wasn't an F-minus, but certainly wasn't the A-plus, I was gearing for. With only 2-minutes per point, you have to be really nimble and answer every question fast, fully and accurately - the first time. Because there is no time for second guessing and no time to double check your answers.

Unfortunately, while I am rather clever, I'm not all that nimble. Sadly, I left some questions blank. What can you do?

I guess my secret accounting prowess will remain a secret weapon to be unleashed, another day.

Managerial Accounting

I am really glad that we had this class! Managerial Accounting is the arm that allows managers to make decisions based on the information that they have at hand. Unlike Financial Accounting, which is more geared toward external reporting, Managerial Accounting's sole purpose is to be a tool for the internal manager.

I find that I don't always appreciate the value in the material until I'm studying for exams. This morning, I've already squirelled away a few frameworks that I can readily use post MBA. Now, if only I could find myself a summer internship so that I can put this knowledge to work!

Ouch!

I finally got my inoculations for my upcoming voyage to India. I am officially protected from Hepatitis and Typhoid. Plus, I will soon be in possession of anti-malarial pills and an emergency dose to ward off extreme diarrhea.

I now have one very sore arm and a REALLY long to do list.

Now, if only this pesky essay would finish being written and these exams studied for so that I can start to concentrate on such things as laundry, shopping and packing.

Bon Voyage! (soon)

Last lecture

My goodness, I cannot even believe this moment has arrived. In officially, 5...4... 3.... 2.... 1.... No more lectures, no more books. No more teacher dirty looks.


Just exams.


Officially lecture done! :)

Taking Responsibility

Today in our ethics class we learned the importance of taking responsibility for how our actions are interpreted. This afternoon, I had the opportunity to do just that.

Those of you who are regular readers know about how I struggle keeping up with the engineers in the quantitative courses. In today's Integrated Thinking Practicum class, when I was faced with this:

a = a6 + a3b36 + a4b46 + a5b56 + a4b45b56

and words like 'multicolinearity'.

I panicked and began downloading old lecture notes and googling in order to keep up with our mathematician professor (who is not at all patient with those who see gibberish where he sees mathematical beauty). And then I made a fatal mistake - I messaged a friend. One that I knew would be honest about whether I was WAY off track in my misunderstanding. Well, she said something funny, I smirked and got caught with my pants down.

All of the sudden, "Megan, can you explain to me why you wouldn't want to use this regression for prediction x4 = a4 + b14x1 + b24x2 + E?"

In my head, "this is just like highschool algebra when Mr.Graham said I had no hope of ever mastering algebra - think brain! THINK!" But my brain went completely blank. Honestly, it was blank from the start. I had NO IDEA.

The worst thing was it was clear that he thought I was just fooling around.

At first I was furious - especially as more and more non-engineering students came up to me to say that they too had been quite confused.

Now, I accept that it was wrong to use messenger in class. Lesson learned.

A lot of students haven't been thrilled with the class, but as I put in my evaluation of the course, I can see a lot of value in this material and I have gotten out more than I was expecting, that being said - regardless of hours spent on homework and high grades on the assignments, clearly I am getting a low grade in class participation.

Sigh - another B+?

Back-up plans

We have received new employment stats and the majority of folks have yet to find summer jobs. I would be lying if I said I wasn't concerned, but I'm staying positive. When all was said and done, the majority of folks were employed LAST summer, and the economy was far more grim!

Back up plans:
1. Learn French - I am verbally proficient, but my writing is atrocious! It would be great to upgrade / refresh my language skills. Canada is a bilingual country after all

2. Conferences / Courses - Go to as many 1-day events that I can.

3. Tanning - I haven't had significant time off in a REALLY long time. That being said, I hope it doesn't come to this

4. Volunteer Employment - I'm looking for experience above all. Maybe publishing my now EXTREMELY modest compensation expectations is limiting, but when push comes to shove, I would prefer to be working!

5. Summer courses - TBD. Registration has already happened, but I might still consider this after I get back from India

I'm addicted to networking!

I think I'm becoming addicted to networking!

Today I met with a really interesting entrepreneur who started her own marketing consultancy while she was completing her MBA (at another southern Ontario university, which shall remain unnamed).

Some people think that networking is a chore, but I have met some genuinely interesting people - each of whom have taken a unique path to business success.

Lessons learned today:
1. Figure out what you love
2. Go after it
3. Don't fear the road less traveled
4. Don't give up

This is clearly an oversimplified representation of what we actually spoke about, but I can honestly say that her story and insights were positively inspiring! I definitely recommend meeting as many people as you can.


Finally, no blog post would be complete without the requisite photos of strangers shaking hands and networks being formed. Enjoy courtesy of Google Images!

BDC Executive

I am very excited to announce that I am officially the Head of Public Relations for the Business Design Club, 2010-2011!

Words cannot express how thrilled I am.

PS - the entire executive is fabulous :)

Club Elections

All clubs are now in the process of electing a new group of students who will steward the cause in the upcoming year.

Unlike the beginning of the year whe we were campaigning for first year rep, we have each found our niche, our passion. For me, having participated in the design visa, I know that Business Design is the place for me.

I will certainly maintain my membership in the Rotman Marketing Association and the Rotman Entertainment and Meda Association, but I would like to help lead the Business Design Club in the coming year.

Please keep your fingers crossed for me! :)

You just described an awesome game, but all it is is a flow chart!

Welcome to my widget factory!

Friday at 4:30pm, 56 teams took over their factories and had to optimize throughput, by purchasing new machines and changing the batch size. We also had to determine the reorder point and order size such that we could make the highest amount of interest on our cash.

All the while, monitoring the results and trying to outmaneuver other classmates. Sound like an interesting game?

Well, it looks like this: Really dynamic eh?

You might not believe it, but we're all OBSESSED with this flowchart! I'm going to go out on a limb and predict that Team 22 (my team) will finish in the top 10. GO TEAM!

Rotman Bonspiel

I would like to thank my team for an AWESOME time curling this afternoon. You are all naturals, I'm really impressed.

After a nailbiter of a game, we lost in the sixth by a hair. Ok, more like 2 feet in a failed attempt to draw to the button. Regardless, fun was had by all, and I met a few cool cats. Fine, not cats at all, just second years. But I must say, each of them were nimble like cats.

Agent Based Models

If anyone in the class is STILL confused about why we're learning agent based models, they never will.

Our ITP professors invited a guest speaker from P&G to take us through a real-world example of the application of the models we are looking to interpret (and hopefully build at some point). Talk about interesting, insightful and overall inspiring.

I can definitely see the possibilties for what we're learning. My only critique at this point: why isn't there an advanced class in second year?

India Prep

Today was our final India Study Tour class.

I am officially BURSTING with excitement! Still so much to do - namely pick up my newly renewed passport and expiditing a tourist visa. Just the small things.

*yikes!*

Shamefully Unprepared

I'm sitting in the second row, right near the front of the class... and I didn't effectively prepare for class.

With networking most of yesterday, plus group meetings, assignments AND studying for 2 quizzes, I didn't get to read the case. I wish I was sitting in the darkest corner in the room, but alas, I'm definitely right in the front.

Besides compensation, what are other benefits that an employee will be looking for?

This was the question that was posed in Accounting class. In an attempt to raise the bar on class participation, I attempted to use an example from my advertising agency world. Well, I got interrupted and ended up looking like a total airhead.

Me: "In my previous job, the environment was a lot of fun..."
Prof: "OK" (starts to gesture to the next person
Me: "... because there were a lot of young people and parties...
Prof: "So you like parties" (smirk, and gesture to the next person)
FAIL

If I had my act together, I would have said,
Me: "The company culture makes a big difference. For example, when I worked in advertising, I was surrounded by young, like minded individuals, like myself. Overall it was a fun environment."
Prof: "Megan, that was really insightful" (ok, he never would have said that, but there wouldn't have been a smirk)

Complainers?

Every class starts with our prof justifying the class and what we're doing. If he wasn't so funny and clever, I would be quite annoyed.

It is clear to me that students have been complaining about the course - or they're confused. Honestly, I'm not 100% certain when / where I'll be using these tools in the future, but I can see that they have practical applications. Plus, everyone who accepts an offer from Rotman knows in advance that there is a class in Integrated Thinking.

Seriously though -

It is very sad that the prof feels he has to justify the class twice a week... But I'm glad that he continues to be funny and clever.

Depressing Day

1. It's Monday (no one likes Mondays)
2. It's sunny outside. I'm inside. 'Nuff Said
3. CAPM - it's back. And this time it looks like a video game, but not a fun one. More like ATARI, but not trendy.

Class Participation

Class participation is a thorn in my side.

I try to be insightful. I try to add a different perspective on the topics we are discussing. I never need to be prodded into contributing to class. No one has ever accused me of being annoying or vapid in my responses (believe me, I've asked). Participation is the one area that I believe I should be getting an A (perhaps, dare I say, an A+).

Yet, I am resigned to being only marginally better than those who speak MAYBE once per term - if at all.

Class participation is the one area where I feel that we do not receive adequate feedback (or feedback of any kind). Being able to contribute to a conversation is a skill that I would like to hone.

It is clear to me that an above average effort is not enough to get that A+ result.

Why is there no tutorial on participation and/or constructing an argument on the fly?

Horror Show

Ever watched a horror movie? Remember the part where the naive protagonist erroneously thinks that the bad guy is gone and starts to relax? The audience cringes in unison as the evil returns to terrorize her when she least expects it.

For me, the bad guy is Capital Markets. Just like those horror movies, I thought the nightmare was behind me - especially after successfully negotiating the Corporate Finance class. So today when I walked into the Integrated Thinking Practicum, BAM!

CAPM has reared it's ugly head once again.

Curling

Tonight was curling playoffs, and I'm sad to announce that after a nailbiter of a game (that included an extra end), we lost.

My curling season is offically over. :(

But wait....

Rotman is going curling on April 10th!! Yes, dear friends, a whole slew of business students will take to the ice, sweeping their little hearts out. I'm really excited.

The company should know better...

Today's ethics class has been bothering me. We discussed two seemingly unrelated subjects:

1. Corporate Whistleblowers - heroes or trouble makers?

2. Nestle - what responsibility does a company have to ensure baby formula is correctly administered in developing countries and should formula be promoted at all?

Rick Powers, Associate Dean and Ethics professor, asked a number of students in my class whether the saw themselves as 'whistleblowers'. Most said no. The class ended before we were able to discuss Nestle Baby.

After class, a few of us were unable to go for lunch with images of starving babies still fresh in our minds, so we tried to solve the Nestle case on our own. Needless to say, we were unable to solve all the world's problems in half an hour, but the general feeling was that the company does indeed have a responsibility to do what they can to ensure that their products are used correctly.

The company should know better than to promote their products when the are aware that there are significant risks of them being used incorrectly.

Ironically, I met a Nestle employee tonight at a Business Design event. She was an absolutely lovely person.

It hit me.

Who is this so-called "company" that we all agreed should know better? A company has no feelings. A company has no conscience. How on earth can a non-living thing with no brain know anything, let alone "know better"?

A company is nothing more than a group of people. People like the one that I met tonight. Nice, honest, good people.

People.

Perhaps like the ones in my class who said they wouldn't blow the whistle?

Quarter 3, officially my fav!

Our grades were released late last week and I have to say, Q2 is officially my favourite!

With the exception of economics, which occurred 9 am after 2 weeks of Olympic glory, I improve in ALL subjects. Even finance to my amazement!! Some of you may remember such Q2 finance incidents as sneaking out of class to cry or my complete finance induced meltdown post final exam, which makes my Q3 finance grade all the more remarkable.

I am pleased to announce, that I am AVERAGE!!

Yes, dear friends, I am overjoyed by my slightly more than mediocre status. Please remember, Rotman is known to be an excellent finance school, thus many of my classmates are financial geniuses. Add in the engineers, and you have a mecca of quantitative brain power. For my artsy/phys-ed undergraduate degreed, media planning self to be average in a quantitative world, is something to celebrated.

I raise my glass to all those that have survived thus far. And I raise 2 glasses to those that have survived with all their faculties intact.

Hurrah!



On a side note, I am a HUGE Olympics fan, so you can't expect me to skip the x-country ski marathon, the hockey gold medal game AND the closing ceremonies, can you? Plus, the winter Olympics happens once ever 4 years, and in Canada every 20+ years, so you would have thought that given the fact that we only had 3 written finals, that the schedule would be a bit more Olympic friendly, but I digress...

Lots of suits

Lots of people lingering in the halls in suits.... must be a finance competiton going on.

Vote for Pedro

It's election time for the Graduate Business Council (GBC). I take voting seriously, even for school government, so I did my due diligence and viewed all of the candidate speeches which were posted online. It certainly wasn't an easy decision because I know how much the candidates want to serve the school. In the end, I chose a group of strong individuals that I believe will best serve Rotman next year. On a positive note, everyone is well qualified and motivated. I'm sure the incoming students will be impressed!

Canadian spend more time online than watching TV

Not all that surprising, the latest Ipsos Reid media study found that Canadians spend more time online than watching television.

Hours spent with media
Ipsos Reid polled Canadians in mid-March to get a snapshot of media habits. These are the average results for the hours spent on different activities:

Actively using the internet: 18.1 hours/week.
Watching television: 16.9 hours/week.
Listening to radio: 8.9 hours/week.
Reading newspapers: 2.9 hours/week.
Reading magazines: 1.4 hours/week.
Source: Ipsos Reid

What is surprising is that both Television and Online viewing are up (TV up 1 hour and Digital up 3 hours). Considering that Television viewership skews older, I wonder whether the trend is due to older people watching evern more TV or if younger people are returning to the 'big screen'.

Also would have been interested to see what the numbers are against the little screen (smart phones). If the world were like Rotman, I'd bet the trend would be as follows:

Media Habits of Rotman Students
Browing through Blackberry BBM messages
Actively using the Internet
Reading newspapers (FP / ROB section only)
Listening to radio + watching tv --> 680 news and CBCNN respectively

Slept In

I slept in this morning and it's completely thrown off my morning. I'm in economics class right now and I'm having trouble focusing...

Team Trouble

Group work can be a lot of fun, or it can be a painful, painful experience.

This week, I spent every spare moment working on a case competition with a self-selected team. While the individuals were all very smart people, in the end we discovered that we weren't on the same page. It was a really frustrating experience for all, but it was certainly a learning experience. In the end, we learned a lot about business design and about ourselves.

Personally, I leaned the importance of being on the same page with your team members. A quick chat about objectives can go a long way to avoid battles along the way. :)

Second Generation ITP

Integrated Thinking is more than a buzz word to differentiate Rotman.

The concept is still REALLY new, so the classroom experience has been as much a learning experience for the students as it is for the professors. This quarter's Integrated Thinking Practicum is vastly different from what was taught in 2009. Like many leading edge ideas, there were some kinks that needed to be ironed out - welcome to ITP Gen2.

Based on what I've seen so far (AKA one lecture, a bunch of class notes and the first two assignments), the course will cover a heck of a lot of material!

My interpretation of the course:
If there is anything constant in this world, it's change. Thus far, we have learned numerous traditional models in a variety of disciplines (finance, marketing, HR, etc), but most of these models were developed ages ago. In some cases before I was born! While these models are fantastic at explaining generalities in the world, they certainly don't work in ALL situations.

Think about it - in the 1960s when the Capital Asset Pricing Model(CAPM) was developed, there was no such thing as cable television. No cellular telephones, no internet. Heck, no home computers! Most people didn't have a credit card. An Ipod wasn't even invented on Star Trek!

Ok, ok, I think you get the picture I'm trying to paint.

It's not the same world that it once was, but the same financial tool is taught to thousands of MBAs who use it, in the workplace, on a regular basis to determine the appropriate rate of return of financial assets and portfolios. Please don't think I'm criticizing CAPM, but do note that it was, and still is a theoretical concept that works as long as a number of assumptions are true.

What we will be learning in ITP is a variety of techniques to dissect the models that we've learned. To understand the underlying assumptions, and make rational, supportable decisions about model's effectiveness & appropriateness in a dynamic world.

Both qualitative and quantitative models will be addressed in the hope that Rotman managers will be more nimble, and better able to thrive in a changing business environment.

My initial thoughts on the course:
1. It will be a lot of work!!!
2. It will be frustrating at times (sometime vs. all the time,TBD)
3. It will be invaluable if it delivers on its ambitious good intentions

With 75% of students still looking for summer jobs, this is going to be a BUSY quarter for most of the class. We have 8 assignments due in 6 weeks for this course alone!

Let's all raise a glass to ITP (and/or St. Patty's Day)

Google versus Facebook

In our last class of MCV I, our professor, Dilip Soman asserted that Google and Facebook are in direct competition. This was based on the fact that both Google and Facebook use databases to target their advertisements (revenue stream).

Dilip would argue that since the Facebook database is more robust, they will ultimately be the winner in the Google/Facebook war.

Personally, I disagree that they are in direct competition.

Remember that MCV stands for Managing Customer Value. While it is true that advertisers are important 'customers' for both Facebook & Google, the end user is the most important. What advertiser wants to be on a site that isn't relevant and won't be able to reach THEIR customers?

It's important to consider how people use these sites:
Google - people are actively looking for information.
Facebook - people are trying to connect with their friends.

So, while Facebook has a more robust database, is it the best way to invite people to your website? Maybe not. Is it the best way to interact with your customers & have a conversation? Probably.

Why am I bringing this up months after the course ended?? The Comscore February US Search Rankings were released last week and Facebook saw a 10% increase in number of searches to 436 million searches - the only site to see growth that month. Google still dominates with 13.5 billion searches, but did experience a 4% decline.

Food for thought.

Design According to Taxi

I love when I come accross Biz Design in my regularly consulted press. Here's a cheeky example from Strategy Magazine (March 2010).

The Internet is a Fad???

HAHA - just kidding.

Today is the 25th anniversary of the first dot-com business. Like most Canadians under the age of 30, I cannot remember a time when I didn't have information at my fingertips so it's weird to think that the industry is still so young!

According to BusinessWeek,

About 1.7 billion of the world's 6.7 billion people use the Internet, meaning 75% of us are still off to the side of the flow of e-commerce. Less than a third of Americans buy things online. Only about half the small businesses in the U.S. have a Web site.

So while the Internet is booming, there is definitely still room for growth. The question is, will it be via PCs or smartphones.

Bring on the innovation

Q4 Begins

We began the morning bright and early - particularly thanks to the time change, I'm not a big fan of losing an hour, but will be glad for the extra hour of daylight at the end of the day!

We jumped right into it with global economics (AKA: Global Managerial Perspectives). Today was a fairly light day watching a video about the impact of Wal-Mart on the US economy. But, as I'm sure we'll learn, there are two sides to every coin. Has Wal-Mart been positive or negative? I'm keeping an open mind and hope that the course will give me some insight into the issue. As always, I'm sure that the answer will be 'it depends.'

Class number two was Operations Management. I've heard a lot of horror stories about this one - particularly related to the course load. We only have six weeks after all, so I anticipate some challenges with this one.

Which is why I am now ensconced in the fishbowl diligently trying to get ahead with my readings and problem solving.

Tomorrow is Ethics - I anticipate being frustrated in this class. Not because of the professor or class discussion, but because I'm already upset at the people in the first case. I feel that this quarter will be ripe with cases full of people turning a blind eye.

Also on the schedule is another accounting class (nothing to say about this one yet) and Integrated Thinking Practicum. I really hope that ITP will be a positive experience as I've loved the Design Visa program that I did and in my mind, Integrated Thinking is about coming up with creative solutions to problems that might otherwise not be effectively solved. Note that this is a personal definition, there seems to be several definitions being batted around. With the concept being so new, it's exciting to see how this idea progresses.

For now, on to the books!

Going Digital

I am interested in digital marketing, new media and innovation and I've been struggling to showcase my experience in a way that allows my interests to shine. There is only so much space on the page after all.

Today I met with the CCC (corporate connections centre) to review & critique my resume. I got a lot of great tips and I'm sure that I'll be able to polish this baby to a shine.

Now I'd like to leave you with a funny video: New Dork - Entrepreneur State of Mind

Reading week is for.... reading?

I am pleased to report that I have had quite the productive reading week.
My house is sparkling clean (even the wordwork is dusted and well oiled). I have set up several networking meetings, PLUS I have still had some time to catch up on my reading... pleasure reading that is.

It has been a while since I read a good book - since my failed attempt to have a balanced life in Q2.

I'm in the Rotman building now preparing to have my resume reviewed by the CCC. This afternoon is an event with the Business Design Club, followed by coffee with an old friend.

Sigh, I love Reading Week!

Blood Bath

Well, the finance exam wasn't pretty. I saw a lot of thumbs down and frowning faces. I still stand by my earlier statement that this material was more appealing, however, that certainly doesn't mean easy. Don't be fooled.

I'm now back in the Rotman Building trying to lead my Leadership Paper to glory. Officially less than 12 hours until reading week and freedom.

By 'freedom' I mean a week of polishing my resume and writing no less than a million cover letters...

Amazing

It' amazing what a few hours of sleep can do for your brain (and attitude). We're in the last stretch before our last exam this quarter - in the next two hours, I have to finish a practice exam and get help on two topics: hedging and options.

I have to say, while I learned a lot in Q2's Capital Markets Finance, I enjoyed Q3's Corporate Finance much more.

I think there are two kinds of people, Q2 people who want to trade the stocks and bond from the companies that the Q3 people hope to one day run.

Good luck to us all!

Hitting the Wall

I've never wanted to take a nap more than I do right now - but there is still so many problems to do before tomorrow, and the practice test, PLUS preparing my cheat sheet. ARRRRRRRRRRRRGGGGGGGGHHHHHHHH!

Torture.

Springtime in Rotman

It's by far the nicest day of the year. The sky is a deep blue, the sun is shining. And I am in the fishbowl studying for finance. I considered studying at home, but I knew that my time would be better spent here. Although the fishbowl is surrounded by windows, none of them lead directly outside, so I can't get distracted gazing at the sky. There will be time for patios soon. A day in fact!

Fun with Finance

I'm feeling oddly optimistic regarding the third quarter material.

Has the world tilted on it's axes? (actually, yes. For those of you who have not been following the news, the latest earthquake has actually had some serious impact on the Earth <-- not that that has anything to do with finance!)

Chin up!

When exams require snacks...

Please excuse any typos in this post, one hand is numb after writing my 5 hour exam. Yes, 5 hours.

The university will argue that the first two hours are optional, but don't be fooled - I needed every second of the five hours to complete the reading and analyisis. Positively ridiculous!

Strategy for Strategy

Officially one exam down. I'm pretty sure it wasn't an 'A', but I am happy with what I learned. Macroeconomics is one of those subjects that is really interesting, applicable and generally enjoyable, but difficult to study for because of the large expanse of topics covered in a mere six weeks.

I, like many of my classmates, were sad to have missed the Olympic festivities. We all knew that the Gold medal win on home ice combined with setting a new record for gold medal wins at the Winter Games was something historic. Like the diligent students that we all are, most bitterly returned to the grind soon after the final goal. It was tough though, especially hearing the celebrations in the streets. *sigh*. There will be more gold medals, but only one MBA.

Tomorrow is our strategy final. Open book (yahoo!), but what this really means is that only well thought out answers will do. I am determined to get an A in this class which means that I've been reviewing and re-reviewing the cases and tools that we've used this quarter.

The exam is five hours long. Yes,5 HOURS! I'll be lucky to be conscious by the end.

So Conflicted

My head is saying, 'study for economics!'
My body is saying, 'have a nap!'
but my heart is saying 'watch the Olympics!!!!!!!'

So my eyes are diligently glued to my textbook and my hands are making coffee to thwart my body.

My heart will get its wish at 3:30 when the Canada / USA hockey final begins. I am Canadian after all, and though I have never played ice hockey in my life, team Canada needs all the good vibes it can get!

Fishbowl

The fishbowl is not a place for the happy or even for the content. Do not expect to be welcomed with open arms. Everything you thought you knew is wrong. In the before exams, friends are turned into mortal enemies, savagely defending their 3x2 territory.

Do not make eye contact.
Do not smile.

Back away slowly and let the unwashed sulk over their textbooks in peace.

I've been in the fishbowl for 3 hours now and I think some of my friends have turned to stone. They literally haven't moved for hours. I don't want to get too close though lest I wake the beast...

Past Exam Questions

You know that you have a lot of work ahead of you when the sample questions are along the lines of "explain X as fully as you can." Basically, tell me everything you can about X, Y, or Z.

I envy anyone that is ambidextrous because my hand will be sore after this one!

Cold FX, don't let me down now...

It's murphy's law - you can feel yourself catching a cold less than a week before exams. Thankfully a quick trip to the drugstore and all is well.

When MBA students are mistaken for Zombies

The Rotman School of Management appears to have been taken over by a pack of raging zombies. MarkStrat presentations and reports are due today or tomorrow thus students are spending an irrational number of hours with noses pressed to our laptop screens.

Now, I don't want to say that MarkStrat has sucked the life out of me, but despite all efforts, I was unable to cover the dark circles under my eyes this morning.

Thankfully, I'm not alone.

One of my colleagues just admitted to only getting 8 hours of sleep.... in the past 3 days.

It was all worthwhile in the end. After a few bumps in the road, our team regrouped and finished strong. Who isn't happy with a Bronze medal?

Great Scott!

Markstrat, India Presentation + Upcoming Exams means my hair is starting to look a little bit like this: I don't mean Marty McFly.

Flights to India

In amongst all the crazy schoolwork, I do have one thing to look foward to - India!!
I've browsing flights and I have to say, I now understand why my Indian classmates don't visit home very often. Flights are bloody expensive and all seem to arrive in the middle of the night...

Two Worlds Collide

As I mentioned earlier, we have A LOT due this week which has led to some unfortunate choices:

Finance group project vs. Marketing group project

Add in an extra class and a networking opportunity, spells out disaster. As my marketing team learned this quarter, if you spread your resources too thin, you lose every time. This can now be applied to real life thus a choice has to be made: disappoint one group or the other.

Unfortunately for us all, I'm completely letting down my finance team this weekend and I feel horribly about it. Marketing is my field and I didn't perform as well as I'd hoped last quarter so it is absolutely imperative that this project be an A+. We had some ups and downs during the simulation which again puts pressure on this final report.

I feel like a complete jerk, but the Finance report is worth so little comparatively.

Sigh - business lesson learned - you literally cannot get everything done at once. Prioritization is just as important as Performance.

When there is too much on your plate...

I am officially stuffed to the brim with assignments coming due in the next week. Not to mention exams right around the corner! Add in a little bit of volunteer work + a veterinary appointment and you have a veritable smorgasbord of things to do.

1. Markstrat Report & Presentation: 25% (2 term class)
2. Finance Case Study: 10% (1 term class)
3. India Study Tour Presentation: 15% (1 term elective)
4. Scouts Canada Event: Feel Good
5. Veterinary Appointment: Dog Feels Good

Crash and Burn

Oh how the mighty have fallen.

We took some bold moves in the last MarkStrat period which totally didn't pan out. We fell into last position.

This period we cut the fat and totally refocused. I'm confident that it will pan out and we'll be able to turn this ship around. FINGERS CROSSED!

Facebook Gold?

Invitiations to upgrade to 'Facebook Gold' have been circulating through the news feeds of countless, unsuspecting facebook users. If real, FB Gold offers a new 'video chat' feature and claims to have no advertising.

Too good to be true? Probably.

I strongly suspect this is a scam - if there is no advertising, who pays for the site? You? Me?

There has been no official announcements from the Facebook camp. Be wary.

Olympic Advertising

I love the Olympics, and I love Advertising, but the lack of variety is really starting to get to me. I know, I know - advertisers spend a lot of money for exclusivity during the Olympics, but I think the creative executions are already burnt out... but not nearly as much as the network promos. Maybe it's time that I invest in a TV remote control so that I can mute... Or I could turn the TV off and write my leadership paper... NAH!

Olympic Spirit

How on earth does Rotman expect me to concentrate when the Olympics are on?

Shoot the Dog

A familiar 2x2 matrix made an appearance in marketing class: Yes, dear friends, it's the matrix that was created by BCG in order to make decisions about products in the marketplace. I won't bore you with the details because then you would have no reason to take an MBA, but the idea is you would like to have products in any category other than the ones with low market share & more growth. Make sense?

Products that are in a dying segment that don't make much money are called 'dogs'. Insensitive business people will say that you need to "shoot the dog." The problem today was the dog looked eerily similar to my dog Daisy. So, when professor Soberman was saying 'shoot the dog', I was hearing 'shoot Daisy'.

Truthfully, I am a bit sensitive when it comes to my dog, particularly since she has cancer, but I'll admit, after class, my laptop wouldn't start and I kind of lost it. MBA exacerbates any stressors in your personal life. Be prepared.

My Hero

Now that interviews are starting to happen on a regular basis, the Rotman study room (known as the "fishbowl") is not nearly as quiet. Today I got a pair of earplugs from the front desk and I can honestly say that they have saved this afternoon's study session!

HURRAY!

Corporate Finance

I find the capital budgeting portion of finance in Q3 to be much easier to learn than the capital markets portion from Q2.

Possible reasons:
1. Capital budgeting is more intuitive, thus easier to learn
2. Teaching methods are more appropriate for my learning style
3. Finance is finally sinking in

Of all the above, I'd tend to lean toward #3. In Q2, my prof Kent Womack kept assuring me that it could take a while for finance to really start to *sink in*. After nearly 9-10 weeks of this stuff, I'm starting to believe him. In hindsight, I would definitely have spent some time learning about corporate finance ahead of embarquing on this journey.

That being said, it's starting to sink in now, so there is hope for us all!

No class Wednesday = Day Off??

Upon discovering that first year students do not have classes on Wednesdays, everyone was overjoyed. Upon first glance, it seemed like a much appreciated mid-week break. This belief was punctuated by the introduction of 'Tipsy Tuesday' which, as the name suggests, was a regularly standing social evening which involved sampling various beverages with ingredients such as barley and hops.

What a sham. Tipsy Tuesday is no more and I spend more time studying on Wednesday than on any other day!

MarkStrat Strikes Again....

This morning we gathered to review the results of decision 3. I have to say, I'm a bit disappointed, but the group rallied admirably and I think we've staged a comeback. (FINGERS CROSSED!!)We'll get together sometime this week to plot out our next decision.

Competing teams, be afraid. Be very, very afraid.

Stuck between a rock and a hard place

How timely. With the G7 summit coming to an end in Iqaluit, I've gained some understanding to the financial plight of the current Canadian government. Please be patient with my simplistic analysis of the situation:

In the early 2000s, the Canadian government was enjoying a healthy budget surplus. Elections were fought based largely on whether this surplus should be used to pay down the accumulate debt or cutting taxes. Tax cuts won out shortly thereafter the GST (goods and services tax) was cut from 7% to 5%.

What I've learned in class:
1. The GST is a roundabout way of encouraging saving because the tax is only paid when you buy something.

2. Lots of saving = increased productivity. Why? Basically, the more households save, the more funds are available for borrowing. Interest rates are lower thus corporations are apt to borrow funds to invest in buildings and equipment which are used to produce more things.

3. Budget deficits ultimately increase interest rates and cause investment (& productivity) to fall.

If the above is true then the cut in GST, the promise that helped elect the current government, was a terrible idea and has severely impacted our ability to dig our way out of this recession.

Less intake in taxes means the government is now running a (growing) deficit which will ultimately mean that the interest rates must rise (currently interest rates are artificially low). Rising interest rates mean less investment and lower productivity. Plus, households aren't saving as much which again means that the supply of funds available for borrowing is reduced. Ouch!

I now understand the tough position that the government has put themselves in, but I'm having trouble being sympathetic. If in 3 weeks, I can learn the basics, the government should have done a better job anticipating this eventuality.

Bah! I can't believe I just posted about politics! I'm having trouble deciding whether I've hit a new high, or low...

MBA Teams

Thankfully neither of my groups have a WGD.

Journey Mapping and Prototyping

Design Visa: Day #4

As a quick refresher, the Design Visa is a series of workshops that is being offered by DesignWorks in conjunction with the Rotman Business Design Club.

Today we completed our journey map and began prototyping our solution. The process certainly wasn't easy, but let me tell you, once you throw yourself into it, you learn some really insightful stuff.

Business Design (as I've interpreted it these past few weeks) is all about curiosity. Who are the users? Who do they encounter? What do they feel/experience? Why do they behave a certain way? What are their needs? Why do those needs exist? Last time we brainstormed solutions to meet their biggest need, today we brought the solution to life. The process involved creating a story board that included our solution and illustrated how we envisioned the solution working. Next, we presented the story board to one of our users and solicited feedback in order to better serve their needs. It was an interesting process and I can really see how it could be useful for any strategic initiative.

I can't say enough about the tools that we've learned so far.


On another related design note - an exciting opportunity to learn more design thinking has just been introduced. Twelve lucky students will be traveling to California this spring to learn more about design from Jump Associates - a leading design management firm. I'm definitely jealous to be missing this trip (I'll be in India - YAY!)