Monday, August 15, 2011

Strictly Classroom has officially moved to the boardroom!

Who would have thought it possible - I landed my dream job.

At the intersection of media and innovation is a nifty product called 'Smart TV.' I have accepted a position at a large consumer electronics manufacturer that makes top-notch smart tv products - how cool is that? Everything that a newly minted MBA could want - marketing, strategy, innovation, foresight, and ambiguity. Plus, a great team and a cool, new product.

In its simplest form, Smart TV can be thought of as a TV that connects to the internet, but in the last couple of weeks learning and exploring, I can honestly say that Smart TV has enhanced my entire television viewing experience. I'll stop raving about it now, because I risk sounding like an infomercial, but rest assured, I now watch more television programming than ever before. (I wouldn't have thought it possible, but there you have it.)

For legal purposes, I want to make it clear that all the opinions, etc. in this blog are my own and are in no way related to my employer. Now that that is out of the way, I hope that some of you will continue to read the blog as I embark on this new adventure!

Thursday, April 14, 2011

Last MBA Presentation

I know what you're thinking - student presentations in a business school mean wearing a suit. Well, you would be right.

Most of the time.

Looking down the halls of Rotman, you WILL see a sea of black suits, shiny shoes and ties. Not so in Marketing Using IT.

For the purpose of this presentation, this common beachwear was transformed with this:
Into Digital Marketing Executive.

Yes friends. Believe your eyes.

Seriously, stop rubbing your eyes! It's true! Our team was transformed from 'bum' into 'digital marketing executive' simply by adding a blazer, scarf and heel. This technique works for dudes as well! Your old band Ts and sports shirts are, in fact, professional when modestly covered with a suit jacket. Your old jeans are equally appropriate, with a pair of dress shoes. It's a miracle really.

Dear students doing presentations for such exciting classes like M&A, Value Investing, and Supply Chain Management. Don't be haters! I know you're jealous. I would be to - it's almost summer, the sun in shining and you are wearing black, constricting suits and I am wearing sandals and jeans.

There's not much I can do to help you work through your emotional feelings of anger and disbelief ("How on Earth can these jean wearing vagrants be earning a professional degree? It's not FAIR!"). Nor can I help you with your physical discomfort, ("This suit is so hot, I hope no one can tell how sweaty I am!"). I also can't help you stand out in your uniform ("Hey, nice suit! Is that 'midnight black' or 'nightshade'?)

Just know that I feel for you.

Monday, April 4, 2011

What I thought would never end, is ending... MUCH TOO FAST!

These days it seems that all of my time is spent reflecting. Reflecting on classes and readings for journal assignments. Reflecting on past careers job applications.

Today, I'm particularly pensive.

Grad Ball started with a toast of champagne and ended with sloppy hugs and pats on the back as we danced the night away with friends. The requisite slide show has an air of finality to it. Set to mournful ballads, I watched almost forgotten photographs flash across the screen. Collectively, the hall filled with whoops and cheers. Laughter and sighs. The whole affair had an air of finality to it.

Tomorrow is Rotman DisOrientation. The opposite of Orientation camp where we were fresh faced and relaxed. Anxious to meet new friends, our only worry was whether our costume for the 'Rock n Roll Legends' party was edgy enough (but not too edgy, it is a professional program after all!). DisOrientation is the exact opposite. This is yet another event where we all start to say good bye.

Where is this all this reminiscent, sappy, slightly-sad, lovey-dovey dribble coming from?

These past two years, I've been living in the moment. Scheduling my week, making 'to-do' lists, and getting assignments done. Well, my MUST-do list is getting shorter, and my WANT-to-do list is getting longer. All of the sudden, I'm very conscious that my time here is ending, and I want to hold on to what I've learned, the people that I've met, and the experiences that I've had. I want to hold them tight so that I don't forget them, don't lose them.

It's not that I want to delay my future. On the contrary, I'm ready to get out there and start the next phase of my life. More than that, I'm EXCITED to show the world what I've gained by being here. I'm imagining myself in that still to be defined future, and I'm proud of what I've achieved here. It is in that imagining, that I see myself taking those first steps into my future. First across the stage to collect my diploma...

With any new beginning comes an end. A change.

In all that I imagine, I cannot picture not being surrounded with these wonderful, bright, smart, funny people every day.

Sunday, March 27, 2011

Spaghetti Organizations: Oticon’s revolutionary organization redesign & lessons learned for advertising agencies.

Prior to Rotman, I worked at one of Canada’s largest advertising agencies with well over 700 employees. Despite being a knowledge based organization, we were extremely compartmentalized and hardly spoke to one another. I consistently felt overworked and undervalued. Since leaving, I have struggled with understanding why my colleagues and I were so unhappy and why management was so blind to the problem. This week I finally had a breakthrough in Organization Design when we discussed Oticon, another knowledge based organization.

Lars Kolind
When Lars Kolind arrived, Oticon was clearly in crisis. The one time leader in hearing aid design and manufacturing was losing market share in Europe and North America. To make matters worse, they were struggling with innovation and design. The balance sheet showed a bleak future.

Kolind knew that dramatic changes were necessary to revitalize this company. Interestingly, the bold moves he took were not undertaken immediately. When Kolind arrived, Oticon was organized by product line, much like any other manufacturing firm. With a long history, the formal, compartmentalized culture was well engrained.

Short Term: Kolind’s first priority was cost-cutting. If the company was to survive, Kolind had to focus on the balance sheet. He eliminated inefficiencies by reorganizing by function which allowed for more economies of scale.

Long Term: Oticon is first and foremost a knowledge based organization. They stay ahead of their competition by constantly discovering new technologies and translating that knowledge to their products. As Oticon was struggling with R&D, Kolind took a bold, unconventional approach to design. He recognized that knowledge organizations are only as successful as the people in them, thus he reorganized in a way that both allowed knowledge transfer, broke down silos AND put people first.

The Spaghetti Organization

Upon reading about the resulting ‘spaghetti’ organization, my immediate reaction was, ‘this isn’t going to work’.

Employees were stripped of their formal job functions, rather, they were given very broad job descriptions and were encouraged to become far more well-rounded. The formal structure was completely decimated, instead they became project based, with employees choosing their own projects. The entire office was reorganized with furniture on wheels so that it would be mobile, workspaces could be changed at a drop of a hat. The most surprising development however, was the freedom offered to the employees who were free to set their own hours and vacation time. How on earth could a company operate without any accountability, you might ask? Well, performance and development were closely monitored and encouraged via monthly performance reports.

Lessons for Advertising Industry
The advertising that I worked at was organized by first and foremost by function. Within that function, we worked in groups by product (or client). For instance, I worked under a Vice President who was responsible for several of our major clients.

From what I have been able to glean from friends in the industry, this design is typical of large, full-service advertising agencies.

Could the Oticon ‘spaghetti’ organization design work for a large advertising agency?
1) Project based vs. function based (loose formal structure)
2) Broad job descriptions vs. Highly specialized
3) Employee freedom vs. 9-5ish in the office

I think the answer is yes and no.

Benefits: The project based approach makes a lot of sense, with the caveat that some continuity be maintained in order to develop a close client relationship. Additionally, employees believe it is necessary to change agencies in order to maintain fresh thinking. With the ability to constantly change projects and clients, attrition for this reason may be avoided.
Broad job descriptions would also be possible. For instance, there is currently overlap between many of the functional areas. For instance, media planners must develop a deep understanding of the consumer. This skill is also present in branding and relationship management (CRM).

Additionally, freedom to set your own hours, with the understanding that performance is constantly under review, is possible thanks to technology. In fact, there is an entire agency that exists using this premise. The Cloud Advertising Agents do not have a fixed office or hours. The entire organization operated using “free agents” on a contract basis.

The most interesting prospect of this organization design is raising the P&L to the agency level as opposed to the functional level. At times when I was working, the functions would fight over compensation. Splitting the compensation across divisions had several unfortunate drawbacks. Small cross-functional projects were rejected, or operated at a loss for one division. Staffing was inadequate in one or more divisions which lowered the quality of the work, decreasing client and employee satisfaction. Raising the P&L to the agency level may make more projects attractive and allow for adequate staffing.

Question Marks: It is not unusual for a company to employ multiple advertising and communications agencies. For instance, you will see Coca-Cola on multiple agency rosters. I’m unsure whether a spaghetti organization would attract a larger portion of the business from these clients or whether it would make a spaghetti organization less attractive.

Overall, I think that the Spaghetti organization structure shows promise for advertising agencies, and I don’t doubt that there are many that operate under this premise. For the organization that I worked at, however, as it is not in obvious crisis, I doubt management will undertake such a dramatic change. That being said, cracks are beginning to show in the once mighty ad giant. The question remains, is it smart to wait until the point of near bankruptcy, like Oticon, before making a bold change for the better?

Tuesday, March 15, 2011

Strategy >> Winning By Design


I love how design influences all sorts of business. This month's Strategy Magazine focuses on a classic example: Retail.

Tuesday, February 22, 2011

Words that should be stricken from your business vocabulary

Business buzz words are annoying. They are confusing, unnecessary, and distracting.

Our guest speaker was clearly an expert in his field. His firm is called in when a firm needs to "re-organize". He is the consultant the manages people - and it shows. On this particular evening, he has approached the class presentation in a way that will garner our respect, and yet maintain a friendly, approachable demeanor. He is dressed in a suit, but the jacket is tossed on the back of the chair - much like a student would discard his jacket after a class presentation. He is wearing a button-down shirt, but it's a friendly blue colour, not the starched, snooty white that you commonly see. His sleeves are rolled up, like he's ready to dig into the work. He screams, "I'm a hands-on manager". Everything about him is likeable.

And then he speaks...

"Our job is to start those dialogues..."
"In all the dialogues that we have..."
"How do you dialogue about the future?"
"The answer, is more dialogues..."

And his colleague chimes in, "it all comes back to the dialogue..."

STOP! I can't take it anymore! What is this, "dialogue" that you speak of? I can't focus on anything other than the ridiculous use of this word. When did it become uncouth to simple say you 'spoke with' the team? A few other vocabulary suggestions.

Next time you want to have a 'dialogue' with someone, try having a discussion instead. Try talking about the future Think about having a quick conversation. Heaven forbid you should chat with one another.

While I seethed in my chair, they continue dialoguing with one another.

Blue Shirt: We actually dialogue with teams"
Colleague, nodding in agreement: "We want people to be dialoguing together"

Tuesday, February 15, 2011

When airlines do silly things

United Breaks Guitars: A clever 3-part video series released on YouTube, created by a Canadian musician in response to an airline failing to respond to breaking a guitar.

We discussed this case in the context of the effect of social media on a brand - in this case, United took a hit and was publically shamed for its poor response.

Today I was reading the Huffington Post and came across this headline:

OWNER OF A KITTEN THAT DIED ON A DELTA FLIGHT OFFERED $50, PLUS AIRFARE

Will airlines never learn? United breaks a guitar and is subjected to public scathing. Did Delta really think they would escape with an impersonal 'sorry' and FIFTY BUCKS?

Schulich & Rotman, UNITE

I often get asked which business school has the better marketing department. Having never taken a single class from a Schulich professor, this is a tricky question to answer. I generally respond by recommending that potential students attend a guest lecture and decide for themselves. I am clearly biased, having enjoyed every marketing class that I attend.

I was surprised a few weeks ago to find that one of the new faces in my Integrated Marketing Communications lecture, isn't a Rotman student. Nor is she a student in another University of Toronto faculty... She is an MBA student at Schulich (York University). Apparently, Schulich students are able to attend a lecture at another university for credit. A mini-exchange. I was surprised that Schulich didn't cover similar course material - advertising is a central part of marketing after all.

I don't judge. It is lovely to expand on my network. Particularly as Rotman/Schulich are rarely on the same team. Our last 'networking' event was a hockey game where Rotman won 5-3 (hurray). The time before was at MBA Games, where Schulich had the upper hand.

In class we are all equal. Who says business schools cannot get along?

Tuesday, February 8, 2011

Fight or Flight: Applicable to MBA Class Discussion

I am flustered. My heart is racing. My underarms are unnaturally damp, and yet, I’m shivering. My hands are cold and clammy.

A colleague makes a simple remark about class, and I jump all over them – my voice is raised in what many people would describe as a shout. I realize that I’m yelling, and then I run away.

My stomach is growling, but I feel like I might throw up, my insides are all in knots.

I drank, not one, but two giant coffees in order to boost my energy level, low because I slept fitfully last night, tossing and turning all night, waking every hour in panic because I don’t want to be late for class (ironically causing me to wake late, thus making me late for class).

My bladder feels like it’s going to explode every five minutes (thank you coffee).

I can’t concentrate. My thoughts are racing. I st... st... stutter.

I think I’m having a Fight or Flight response to my Creative Industries Class.

For evidence, I turn to the MBA source that no one wants to admit to using: Wikipedia. Fight or flight is a biological response to extreme stress.

The symptoms:
Acceleration of heart and lung action (I definitely feel like I’ve run a marathon, but I’ve been sitting all morning)
Paling or flushing, or alternating between both (thank you to the person that invented blush – you are a lifesaver!)
Constriction of blood vessels in many parts of the body (I am wearing mittens indoors)
Relaxation of the bladder (if class had lasted another 5 minutes, I think this would have been a check)
Auditory exclusion (I do seem to have difficulty following along in class....)
Shaking (please make this shivering stop!)

This is ridiculous – class ended more than 2 hours ago!

How on Earth has this happened?

Am I intimidated by my professor and his so-called draconian leadership (he is rather scary with his out-of-the-blue ‘what does this obscure term from the reading mean?’ cold-calling and his eloquent way of both acknowledging a fledgling attempt to challenge an existing thought with a gentle, yet thorough reminder that our thoughts are naive, and incomplete).

Have I confused an interest with the topic with the ability to excel at the course material?

Perhaps I have allowed my moderate amount of success in previous electives to boost my self-confidence to unnatural levels. Perhaps a few As, and dare I publically boast, a smattering of A+ grades have led me to believe that I actually DO know something.

Maybe I am a ‘smug MBA student that thinks she knows everything’ and this class is the way to bring me back down to Earth (not very gently might I add).
Regardless of how this has happened, my heart is still racing, my body is still shaking, and I am still sweating.

I think I need a hug.

Tuesday, February 1, 2011

Enjoy art - for less than $1000!

Last week a contemporary art enthusiast visited our class to discuss his new club in Toronto. The mission: To make GOOD Art accessible to ordinary people & give a 'behind the scenes' look into the art scene. For a bargain price of $200, members are invited to exclusive displays, lectures with the artist & visit to the artists' studio. Sounds like a great deal, and I nearly joined. I won't share the name of the individual, nor his club, as the following is a one-sided, somewhat scathing review of his talk.

The lecture was a BIG fail.

He began with a disclaimer - that he was biased toward visual art. Fine. Understood. He then proceeded to systematically insult me in every possible way. From claiming that philanthropists only donate to the art because their profession isn't important, therefore they will only be remembered by having their name written on the side of a building.

To looking down his nose at those of us who "cannot name even 5 contemporary artists" (TRUE) and that we likely don't have worthy art collections "how many of you own a piece of art worth more than $1000?" (NOPE).

To his disdain for Leslieville who voted against a Wal-Mart development in their neighbourhood. "Instead of a beautiful shopping centre, the neighbourhood will be getting car dealerships. It's a real shame."

The point of this rant is to share that you can now enjoy visual art, for the bargain price of FREE! Google has launched Art Project

Granted, you will not be able to visit the artists' studio (most of the artists are dead after all), however, you may ENJOY the works from home, with little scathing remarks from snotty art critics. There is nothing like the real thing (believe me, anytime I travel, I always visit the museums), but if you like art, but not enough to be insulted by your lack of knowledge, this is a great entry point. Well done Google!

Thursday, January 27, 2011

Getting my money's worth

Some MBAs take the bare minimum number of classes - core classes in the first year, and 10 electives in the second year. I, on the other hand, am a glutton for punishment, and will graduate with 2 additionally electives. Why? Well, I am eternally curious and cannot seem to continue in this course without learning as much as possible.

Unfortunately, there are a few classes that are slipping from my grasp. For instance, there are a couple of finance classes (yes, you heard right, I did say finance), that I was interesting in auditing. But with a full course load, and a desire for mental sanity, I have decided to take a pass, and concentrate on those classes that I am sure to enjoy.

Monday, January 24, 2011

Smug MBA Student

I have entered into my final semester of the MBA and have already made a misstep in one of my classes.

In the very fist lecture of 'Competition and Strategy in Creative Industries' I was called out as a 'smug MBA student' by my professor.

Professor: Alright, class, I would like for someone to describe in your own words, what the following sentence means, 'The market under invests in creativity due to externalities associated with ideas'. Megan, what do you think?

Me: Ummm, well, I'm not 100% sure, but I'll take a stab at it. The market isn't investing enough in creativity. Ahhh... Ummm... I would say that, perhaps there is some misunderstanding on the value of ideas in the marketplace.... ummm... ya.

Professor: Ok, I just want to comment on something that Megan just said there. She said that the market misunderstands the value of ideas. Well, it's easy to sit there and be a smug MBA student and say that the market has misunderstood something. The market, which is filled with really smart people...

What I hear: Shame on you Megan. Have you learned nothing in the past 2 years? The market is always right. Always.

What I think to myself: If the market is always right, and the statement is true, then the market is not investing what they should. Therefore the market isn't right. Why aren't they right? Well, something must be missing. If some piece of information is missing, and they are investing based on the available information, isn't that a form of misunderstanding? I'm confused!

What I write in my notes: Never use the word 'misuderstood' ever again.

What I tell my peers: that will teach me for skimming through the reading. I don't think I was being smug, I just think that it was clear that I didn't have a clue what I was saying.

Wednesday, January 12, 2011

MBA - not all spreadsheets

This weekend 660 MBA students from 20 business schools across Canada gathered in Toronto for the MBA Games. We competed in 4 sports (Dodgeball, Basketball, Ultimate Frisbee and Soccer), 3 academic case competitions and in various spirit events.

Team Rotman came out in full force, with friendly competitive spirit and smiles all around. We battled fiercely in each of the sports and academic events, and pulled off a gold place finish in a Jeopardy-style tournament (Jeopardy team included yours truly). We made many new friends and had a lot of fun. A wee vacation in our own dear city.

Congratulations to the University of Alberta who took home the top prize and will be hosting the event next year. A big thank you to Schulich who put the games together this year.

We had an absolute blast. And now, back to the books.

Followers