Important Life Lessons From An MBA - Poets&Quants

Important Life Lessons From An MBA

For many, an MBA is an education in gaining skills needed for career advancement. But for Richard Oxland, a 2018 alumni of IESE, his MBA education at IESE taught him more about personal growth.

“I was lucky enough to spend the 19 months up to May 2018 studying in the full-time MBA program at IESE Business School,” Oxland writes in IESE’s The MBA Blog. “After 400+ case discussions, I should have all the technical tools I need to help lead organizations through a wide range of challenging situations. This is great, and was one of the main attractions of an MBA, but for me it is definitely not the most important learning.”

A New Perspective

For Oxland, one of the greatest lessons he gained at IESE was the concept of “mental models.”

He writes that the concept of mental models relates to the idea that “mine is different from yours, is different from everybody else’s, and it’s a function of your personality, the culture(s) you have grown up in, your knowledge, education and experiences.”

However, for Oxland, this concept was directly relatable to his MBA experience.

“In my MBA team with 8 classmates, there were professionals from marketing, finance, oil & gas, HR and sales (as well as engineering) and we are from Chile, China, Brazil, Italy, Spain, Korea, Saudi Arabia and the UK, with work experience ranging from two years to twelve years. This kind of pattern was repeated across 40+ teams over the 5 sections,” he writes. “The mental models concept perfectly encapsulates how we can learn and grow through respect for diversity and difference.”

Getting Outside The Comfort Zone

Oxland says much of his personal growth throughout his MBA came from getting out of his comfort zone.

“If you ask me now, this is the first principle of personal growth: get outside your comfort zone,” he writes.

Part of getting outside your comfort zone in b-school is setting goals.

“Whatever your insecurities are, work to resolve those head on. You have to make a conscious decision to grow…it’s not just going back to school, it’s seizing the opportunity to set goals and take risks,” Naomi Johnson, an MBA graduate of Emory University’s Goizueta Business School, says.

The Focus to Succeed

In order to succeed in an MBA, Oxland says you’ll need to learn how to focus.

“I’ve never been as busy as I was for those first four terms and 16 months. I could have probably filled seven 36 hour days each week,” he writes. “24 hours definitely wasn’t enough for all the classes, case preparation, project work, team meetings, club activities, organizing of treks and seminars, job searching, Spanish lessons, eating, socializing, and sleeping.”

While the MBA is a challenging process, Oxford says getting through it has taught him more about himself than he’s ever imagined.

‘Understanding myself so much more feels like I’m beginning a new chapter of my journey through life, seeing many things in a different light,” he writes. “It helps me both to communicate about myself with confidence and purpose and also to position myself clearly with respect to my career ambitions.”

Sources: The MBA Blog, Poets & Quants

Bill Boulding,Dean of the Fuqua School of Business

How Trump’s Visa Policy Impacts Business Schools & The U.S. Economy

President Trump’s visa policy is have a major impact on MBA admissions. Look no further than Duke University’s Fuqua Business School.

Bill Boulding, dean and J.B. Fuqua professor of business administration of Fuqua Business School, says Trump’s visa policy is hurting the business school’s international applications, The Chronicle reports.

Boulding says international students are worried about the possibility of securing a job in the US post grad as H-1B visas have become increasingly difficult to acquire. Additionally, Boulding tells The Chronicle that a number of international students and their parents have raised safety concerns over studying in the US with the heightened anti-immigrant sentiment.

US Losing Its Lure?

The US is becoming a less attractive option for students to study.

According to the Graduate Management Admission Council’s recent prospective students survey, less than 50% of prospective full-time MBA students say they want to study in the US.

At Duke’s Fuqua, that reality is hitting hard. The b-school experienced a 6% drop in full-time MBA applications, most of which has been driven by a decline in international applicants, according to Financial Times.

Maintaining Student Diversity

Duke’s Fuqua is working to maintain student diversity in response to the drop in international applicants.

Boulding has already doubled the number of international events, according to The Chronicle, and says that the university is working to help international students get visa sponsorship.

“Our careers team is also doing all it can to support international students and help match them with employers who will sponsor visas if they desire to work in the United States,” Boulding tells The Chronicle.

Boulding adds that he’s made it his mission to advocate for international students’ access to business education.

“I’m a big believer in the power of business to transform the world for the better, but to do so requires developing leaders who will use business as a force for good,” he tells The Chronicle.

Sources: The Chronicle, GMAC, Financial Times

Finding The Right Online MBA Program For International Business

You’re interested in studying international business. But you don’t have time to enroll in a traditional MBA program. You consider possibly enrolling in an online MBA. Yet, with the number of options, you find yourself wondering how to pick the right one.

Jordan Friedman, a contributor at US News, recently discussed how applicants can choose select the right online program for a degree in international business.

Accreditation Is Crucial

With a number of options to pick from, it’s important to seek out programs that are accredited, experts say.

Cheryl Oliver, associate dean for professional programs at Washington State University’s Carson School of Business, says students should find programs that have been accredited by the Association to Advance Collegiate Schools of Business.

“Their faculty are paying attention not only to what’s current and what’s hot today, but also able to talk about the historical point of view, the philosophy, the theory, all related to business management and how students can use that framework to pivot at any time in their career as those things change,” Oliver tells US News.

Time Management

Most students choose to pursue an online MBA are already working full-time and can’t afford to drop their careers.

“More people are doing online programs because they don’t want to stop their careers and quit their jobs,” Ramesh Venkataraman, chair of Indiana University’s Kelley Direct MBA & MS programs, tells Poets & Quants. “They are doing perfectly fine and like their companies. So the quality of students in these programs is quite high.

But that also means that the competition and caliber of online MBAs can be just as tough. If you’re considering an online MBA, you’ll still need excellent time management skills.

“Like all prospective online students, they should weigh whether they have the time-management skills and self-discipline that an online master’s program typically requires,” Friedman writes.

Going Oversees

If you’re interested in international business, it might help to consider an online MBA from an overseas school.

“What I’m noticing in the market right now is that more and more schools outside the U.S. are starting online programs. That hasn’t always been the case,” Oliver tells US News.

Oliver advises students to consider why they’re pursuing a degree. If they’re interested in gaining recognition for an international brand, pursuing an online MBA from an international school might help, she says.

Moreover, experts say having an online MBA from an overseas school can offer some international perspective.

“This is increasingly valued by multinational companies,” Nigel Banister, strategic international projects director at Manchester Metropolitan University in the United Kingdom, tells US News.

There is also the possibility of actually getting some experience of travelling internationally, depending on your program.

Oliver says all of these are aspects students should consider when looking at programs.

“Students should look for as much immersion as fits their schedule and their desire as possible so that they can get the best value,” Oliver tells US News.

Sources: US News, Poets & Quants

The post Important Life Lessons From An MBA appeared first on Poets&Quants.

from Poets&Quants
via IFTTT