Apparently our finance case was more complex that I'd originally thought. While it boiled down to a simple yes/no question, is NPV > 0, we got messed up dealing with 'real' versus 'nominal' costs (were the projections adjusted to include inflation or not)? We ended up getting the correct answer in that NPV was greater than zero, but not every assumption was correct.
Lesson learned - if it seems easy, you're being tricked.
Nothing in the MBA is easy. I literally now think twice before I answer any question, including Name: __________________
Tuesday, January 26, 2010
Monday, January 25, 2010
Guess who just contributed to the GDP?
Yup, I bought fries from Swiss Chalet for dinner. Delicious, crispy fries i.e. potatoes grown in PEI.
GDP, what wouldn't I do for you?
On another note - I read in the paper today that StatsCan is releasing two reports this Friday: November gross domestic product and December industrial product and raw materials price report. By then, we should be able to understand these as our first Macro quiz is on Friday. Time to start making flash cards!
GDP, what wouldn't I do for you?
On another note - I read in the paper today that StatsCan is releasing two reports this Friday: November gross domestic product and December industrial product and raw materials price report. By then, we should be able to understand these as our first Macro quiz is on Friday. Time to start making flash cards!
What can't technology do?
Using technology helps to put knowledge into action. For the second time this quarter, we used online simulation software - and it was AWESOME!
The premise was simple:
Two teams, Intel and Microsoft must make two Decisions: Release a new processor/operating system? What is the price?
Decisions are made simultaneously and the idea is to maximize profit (obviously).
As the uber nerd that I am, I went ahead and and created a decision tree, trying to decide whether it would be in the best interest of my team, Intel to release a new processor. After much back and forth, we got the hang of it and eventually realized decent profits.
As someone famous once said, business isn't fun, but that doesn't mean there can't be fun in business. These simulations are a good example of this phenomenon. Classes aren't (usually) fun, but that doesn't mean that there can't be fun in class.
Doesn't that screen grab make you wisht that you could 'play'? Don't tell anyone, I secretly can't wait to try the program again so that I can try something different to see if I can make even more faux dough.
The premise was simple:
Two teams, Intel and Microsoft must make two Decisions: Release a new processor/operating system? What is the price?
Decisions are made simultaneously and the idea is to maximize profit (obviously).
As the uber nerd that I am, I went ahead and and created a decision tree, trying to decide whether it would be in the best interest of my team, Intel to release a new processor. After much back and forth, we got the hang of it and eventually realized decent profits.
As someone famous once said, business isn't fun, but that doesn't mean there can't be fun in business. These simulations are a good example of this phenomenon. Classes aren't (usually) fun, but that doesn't mean that there can't be fun in class.
Doesn't that screen grab make you wisht that you could 'play'? Don't tell anyone, I secretly can't wait to try the program again so that I can try something different to see if I can make even more faux dough.
Self Reflection
Self reflection is harder than you might think! I have officially been working on this negotiations essay for the past two weeks and I'm thankfully nearly happy with it.
I'm now in the home stretch(which is good because it's 5:30 am and the essay is due before I leave for school this morning around 8ish. Please don't think I've pulled an all-nighter on this thing! I actually like waking up early to do the final run through on big projects, and at 70% of my negotiations mark, this one's a doozy!
I'm now in the home stretch(which is good because it's 5:30 am and the essay is due before I leave for school this morning around 8ish. Please don't think I've pulled an all-nighter on this thing! I actually like waking up early to do the final run through on big projects, and at 70% of my negotiations mark, this one's a doozy!
Saturday, January 23, 2010
A day of rest
Saturday. A day of rest for most.
For MBA students, the 'rest' means 'rest of the assignments and readings that I didn't get to last week'. *Sigh* there are many pages to be read and written today.
First up - a self-review of my negotiation style. As we learned in class, there are two types of negotiations.
1. Win/Lose (Distributive)
2. Everyone Wins or Everyone Loses (Integrative)
The key to winning in the Integrative situation is that the outcome of the negotiation is interdependent. In order to win, you need to know what you want and piece together what the other party needs in order to come to a mutually satisfactory result.
I'm actually torn. I started this paper two weeks ago and have spent a lot of time reflecting on it (some might argue TOO MUCH time). I was a negotiator in a professional capacity for a number of years (media planning, remember?) Negotiating dbertising rates seemes, on the surface, to be a distributive bargaining situation - i.e. I need the cost to be as low as possible and the salesperson wants to make as much money as possible - I Win / They Lose.
As usual, nothing is black and white and as I became more senior within the organization, I was negotiating package deals more and more. This, I think, leans more toward Integrative. Yes, I still want the most value as possible, but there is the flexibility to package up their offer in multiple ways so that we both win.
I thought writing this paper would be a breeze. The fact that it hasn't been signals to me that this is a class in which I learned a lot.
For MBA students, the 'rest' means 'rest of the assignments and readings that I didn't get to last week'. *Sigh* there are many pages to be read and written today.
First up - a self-review of my negotiation style. As we learned in class, there are two types of negotiations.
1. Win/Lose (Distributive)
2. Everyone Wins or Everyone Loses (Integrative)
The key to winning in the Integrative situation is that the outcome of the negotiation is interdependent. In order to win, you need to know what you want and piece together what the other party needs in order to come to a mutually satisfactory result.
I'm actually torn. I started this paper two weeks ago and have spent a lot of time reflecting on it (some might argue TOO MUCH time). I was a negotiator in a professional capacity for a number of years (media planning, remember?) Negotiating dbertising rates seemes, on the surface, to be a distributive bargaining situation - i.e. I need the cost to be as low as possible and the salesperson wants to make as much money as possible - I Win / They Lose.
As usual, nothing is black and white and as I became more senior within the organization, I was negotiating package deals more and more. This, I think, leans more toward Integrative. Yes, I still want the most value as possible, but there is the flexibility to package up their offer in multiple ways so that we both win.
I thought writing this paper would be a breeze. The fact that it hasn't been signals to me that this is a class in which I learned a lot.
Friday, January 22, 2010
Marketing + Strategy = Love
In the wilds of Delta-1, two Sonites are united in the fight against their motal vowel enemies. From the creators of Brangelina and Bennifer comes MarkStrat - the extraordinary true story of six strangers and their quest to guide SOLD and SONA to market share victory....
Hmmm, a bit too dramatic?
This morning Team 'O' hammered out our first MarkStrat decision. We were given a briefing document and asked to optimize the marketing mix for the products that we had inherited: SONA and SOLD. Fictional products in a fictional market, but what is real is how much this simulation is counting for our final marketing grade (30%). So far the simulation promises to be insightful, interesting and dare a say a little bit fun?
We are working with a new team (which makes 2 teams to keep track of for Q3). After spinning our wheels a little bit, we managed to rally and key in our recommendation just seconds before the buzzer. It will be a few days before we get our results, but I'm confident that we made some initial headway.
Hmmm, a bit too dramatic?
This morning Team 'O' hammered out our first MarkStrat decision. We were given a briefing document and asked to optimize the marketing mix for the products that we had inherited: SONA and SOLD. Fictional products in a fictional market, but what is real is how much this simulation is counting for our final marketing grade (30%). So far the simulation promises to be insightful, interesting and dare a say a little bit fun?
We are working with a new team (which makes 2 teams to keep track of for Q3). After spinning our wheels a little bit, we managed to rally and key in our recommendation just seconds before the buzzer. It will be a few days before we get our results, but I'm confident that we made some initial headway.
Fool me once, shame on you, Fool me twice....
I showed up a half-hour early for class twice this week. Apparently my schedule isn't as straightforward as I thought!
Ooops!
Ooops!
Late Nights
Yesterday I was out WAY too late "networking" after Business Design Visa and I'm paying for it now. Friday night at 8 PM should not be spent in PJs!! (was definitely fun though)
Tuesday, January 19, 2010
I wonder...
Do you think that I could try to negotiate my way out of writing this paper (on negotiations) and do you think that would guarantee me an 'A'?
Don't Snooze? You Lose!
If you don't get enough sleep, you can't make it up on the weekend. Don't believe me? Here's a link to a source trusted by MBAs: Business Week.
Let this be a lesson to all my MBA colleagues who spend more night time hours in the cubicles than they do in their beds.
Let this be a lesson to all my MBA colleagues who spend more night time hours in the cubicles than they do in their beds.
'Blue Monday'
Yesterday was the most depressing day of the year. At least according to researchers who have given the third Monday of the year the moniker 'Blue Monday'. January, a cold a damp month with endlessly dark days, can be trying for the most positive person but adding in Christmas VISA bills, a natural disaster and the ever frustrating government prorogation fiasco and you have a recipe for genuine depression.
Not so in the halls of Rotman. Monday was the first official day of Q3. A clean slate, meant that students were unnaturally relaxed *for MBA students*. If anything, I sensed a feeling of optimism.
Our Blue Monday will come in another few weeks once we've gotten back into the swing of classes, assignments, presentations, and *shudder* INTERVIEWS.
Thursday, January 14, 2010
Call of the Wild
As an avid people-watcher, I like looking down into the Atrium when the recruiting mix-and-mingle begins.
At the signal "this is the conclusion of the presentation", recruiters are immediately surrounded as the hopefuls descend. Pulled in every direction, recruiters maintain an interested yet impassive expression on their faces. They are polite, yet vague in their responses to the constant peppering of questions leaving the MBAs both confident and/or uncertain.
From my vantage point on the second floor, I see heads bob in unison as the recruiter makes a particularly poignant statement. MBA hands are crossed modestly in front to avoid making any movement that could be interpreted as weak or nervous.
I am perhaps the only person that is enjoying this week's process. I am attending only a handful of info sessions as my interests lie apart from the investment banker hopefuls that seem to dominate the class. After hours of careful observation, I have determined that the best strategy is to wait until the crowds have thinned before approaching the company representative. I truly want to have a meaningful conversation, not simply ask questions for the sake of having my voice heard. Hopefully I will somehow manage to make a lasting positive impression.
At the signal "this is the conclusion of the presentation", recruiters are immediately surrounded as the hopefuls descend. Pulled in every direction, recruiters maintain an interested yet impassive expression on their faces. They are polite, yet vague in their responses to the constant peppering of questions leaving the MBAs both confident and/or uncertain. From my vantage point on the second floor, I see heads bob in unison as the recruiter makes a particularly poignant statement. MBA hands are crossed modestly in front to avoid making any movement that could be interpreted as weak or nervous.
I am perhaps the only person that is enjoying this week's process. I am attending only a handful of info sessions as my interests lie apart from the investment banker hopefuls that seem to dominate the class. After hours of careful observation, I have determined that the best strategy is to wait until the crowds have thinned before approaching the company representative. I truly want to have a meaningful conversation, not simply ask questions for the sake of having my voice heard. Hopefully I will somehow manage to make a lasting positive impression.
Monday, January 11, 2010
Mentally preparing to study both smarter AND harder!
I've been spending the past couple of hours mentally preparing for Q3. Namely, I dug out the 'Study Smarter, Not Harder' book by Kevin Paul that I purchased in the summer. In Q1/Q2, I did a great job of sudying hard, but maybe not as smart as I could have.
The 13 Study Skills outlined in the book:
1. Believe in yourself
2. Prepare
3. Organize yourself and your work
4. Spend time on what matters
5. Discipline yourself
6. Be persistent
7. Divide and conquer
8. Become an information filter
9. Practice output as well as input
10. Do not fear mistakes
11. Use all your intelligence to create study tools
12. Be active
13. Take control of your own learning.
I think I could use more help in all of the above, but #1 will be the key.
I look forward to yet another successful semester of learning - one that translates on exams!
And now, off to a Scouts Canada meeting. In amongst all of the school activities, I still actively volunteer. :)
The 13 Study Skills outlined in the book:
1. Believe in yourself
2. Prepare
3. Organize yourself and your work
4. Spend time on what matters
5. Discipline yourself
6. Be persistent
7. Divide and conquer
8. Become an information filter
9. Practice output as well as input
10. Do not fear mistakes
11. Use all your intelligence to create study tools
12. Be active
13. Take control of your own learning.
I think I could use more help in all of the above, but #1 will be the key.
I look forward to yet another successful semester of learning - one that translates on exams!
And now, off to a Scouts Canada meeting. In amongst all of the school activities, I still actively volunteer. :)
Career Coaching
Today I sat down with Rotman's Career Coach. This was an extremely useful session. I have been struggling for about a month with focusing the direction of my summer job search, but within an hour of chatting with Leigh, I came out with a plan of attack and a better sense of how I will execute the next phase of my search.
This week there are no classes at Rotman, so I can dedicate my time coming up with a plan of action. There are a few companies that I'm interested in that are recruiting on campus, so I have a few leads. The rest of my time will be spent making a list of my strengths in order to determine how I might add value to a company that is NOT recruiting on campus.
The only other deliverable for the week is finishing my negotiations self-assessment paper and preparing for classes starting next week.
PS- our grades were just released. There were a couple of surprises, but for the most part, grades are what I expected/hoped for. There is definitely room for improvement in Q3 - but when is there not? I'm definitely motivated to step up my game!
This week there are no classes at Rotman, so I can dedicate my time coming up with a plan of action. There are a few companies that I'm interested in that are recruiting on campus, so I have a few leads. The rest of my time will be spent making a list of my strengths in order to determine how I might add value to a company that is NOT recruiting on campus.
The only other deliverable for the week is finishing my negotiations self-assessment paper and preparing for classes starting next week.
PS- our grades were just released. There were a couple of surprises, but for the most part, grades are what I expected/hoped for. There is definitely room for improvement in Q3 - but when is there not? I'm definitely motivated to step up my game!
Friday, January 8, 2010
Another class completed
Negotiations has come to an end (self-reflection paper still outstanding). I have to say, I LOVED this class and now want to negotiate everything!
I wish I felt this good after every class. Grades are released next week. *insert ominous organ music here*
I wish I felt this good after every class. Grades are released next week. *insert ominous organ music here*
Wednesday, January 6, 2010
Hi, I'm Troy McClure
You might remember me from such negotiation videos such as "The Post Settlement Settlement", and "The Post-Post Settlement Settlement"...
We just finished watching a really cheesy Negotiations Educational Film. Acting quality aside, it was really interesting and helped emphasize much of what we've learned so far this week.
I'm not going to spoil what we've learned, but I can tell you that I wish I had taken this course BEFORE starting my first career. Negotiating was a regular part of my previous job, and with no formal training, it was difficult coming up with strategies on how to get to a 'win'. I'd give this course an A+ for usefulness, holding my attention and general goodness. I highly recommend it
Sunday, January 3, 2010
The End is Near
The end of holidays that is. I've spent the days since Christmas brushing up on pop-culture and all of the TV/Movies that I've missed. I saw 3 movies over the holidays, most of which were great:
Avatar 3D - Awesome. I cried 3 times. In retrospect, it was similar to the children's cartoon 'Fern Gully'
Sherlock Holmes - Also Great! Had to sit really close to the screen though so I think I missed a lot of the big picture cinematography. Will have to see it again sometime.
Nine - A smart musical that my girl friends and I can only describe as 'meh'. The characters are weak and non-loveable and musical numbers were just ok. I don't feel like it was a complete waste of time though.
The highlight though has to be the finale of Doctor Who. Yes, I am an uber nerd (no apologies). I happily watched The Doctor save the world yet again, and then regenerate. I laughed, I cried, it moved me. Now I have something to look forward to in Q4 when the series resumes.
Next week I meet my new team and I'm raring to go. I already have my books and I'm going to crack open negotiations this afternoon. As it's an intensive week, I think it will be difficult keeping up with the readings so I'd like to get ahead if possible.
All in all, it's been a good holiday, but I'm ready to start afresh. I learned a lot about myself and my learning style last quarter and I'm ready to modify my approach. I'm also going to be more prepared for the day by bringing lunch with me so that I don't have to visit one of the fine dining establishments whithin walking distance, such as Subway or the Chinese Food Truck.
I look forward to seeing everyone again very soon.
Avatar 3D - Awesome. I cried 3 times. In retrospect, it was similar to the children's cartoon 'Fern Gully'
Sherlock Holmes - Also Great! Had to sit really close to the screen though so I think I missed a lot of the big picture cinematography. Will have to see it again sometime.
Nine - A smart musical that my girl friends and I can only describe as 'meh'. The characters are weak and non-loveable and musical numbers were just ok. I don't feel like it was a complete waste of time though.
The highlight though has to be the finale of Doctor Who. Yes, I am an uber nerd (no apologies). I happily watched The Doctor save the world yet again, and then regenerate. I laughed, I cried, it moved me. Now I have something to look forward to in Q4 when the series resumes.
Next week I meet my new team and I'm raring to go. I already have my books and I'm going to crack open negotiations this afternoon. As it's an intensive week, I think it will be difficult keeping up with the readings so I'd like to get ahead if possible.
All in all, it's been a good holiday, but I'm ready to start afresh. I learned a lot about myself and my learning style last quarter and I'm ready to modify my approach. I'm also going to be more prepared for the day by bringing lunch with me so that I don't have to visit one of the fine dining establishments whithin walking distance, such as Subway or the Chinese Food Truck.
I look forward to seeing everyone again very soon.
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