Saturday, December 2, 2017

B-School Bulletin: Janet Yellen Speaks! So Does Trudeau! - Poets&Quants

Janet Yellen spoke to a crowd at Stern on Nov. 21 as part of the “In Conversation with Lord Mervyn King” series

Federal Reserve Chair Janet Yellen Steps Down, Speaks At Stern

News from NYU Stern School of Business

“On Nov. 21, Janet Yellen, chair of the Board of Governors of the Federal Reserve System, spoke at the Stern School of Business as part of Stern’s ‘In Conversation with Mervyn King’ series.

“The series, which is hosted by Stern professor Mervyn King, Baron King of Lothbury and former Governor of the Bank of England, began in the fall of 2016 and has featured discussions with other notable figures like author Michael Lewis and MSNBC host Rachel Maddow.

“The talk came one day after Yellen announced she will step down from her position in the Federal Reserve when Jerome Powell is confirmed as her replacement, making it one of her last appearances in her current role as chair of the Federal Board of Governors. The announcement followed President Donald Trump’s decision to not select Yellen, the first woman to head the central bank, for a second four-year term. Yellen is the first Fed chair to not be selected for a second term in almost four decades.”

Read more …


CBC host Matt Galloway speaks with Canadian Prime Minister Justin Trudeau about social policy issues at the University of Toronto. Photo by Laura Pedersen

Justin Trudeau Talks Sexual Harassment At Toronto Rotman

News from University of Toronto Rotman School of Management 

“Prime Minister Justin Trudeau made an appearance today at University of Toronto’s Rotman School of Management, where he talked to CBC Metro Morning host Matt Galloway about a number of social issues including housing and sexual harassment.

“The event, ‘Looking Ahead: Preparing For the Next 25 Years of Social Policy,’ was organized by the Maytree Foundation and Caledon Institute of Social Policy, both public policy organizations that tackle poverty reduction.

“Last week, when unveiling the Liberal government’s $40 billion national housing strategy, Trudeau called housing a human right, which elicited a round of applause from the audience at Rotman. The 10-year plan would include repairs and construction of social housing and support for families in need.”

Read more …


Let’s Talk About The 0.01%

News from University of Chicago Booth School of Business

“Since the Great Recession, America’s wealthiest 1% have been demonized as fat cats who have grown ever richer while the middle class has stagnated. While protesters have called for the 1% to be taxed more heavily, economists have been digging into data to develop a better understanding of who the top earners are.

“These economists have been seeking to measure income inequality and wealth inequality, and to understand the nature of the 1%’s income and assets. And views differ. Some say the 1% are predominantly entrepreneurs and the ‘working rich,’ people who made their money by starting and running successful businesses. Other economists note that a significant proportion of the 1% are the heirs of wealth accumulated over time.

“But the data also reveal disparities within the 1%. The 1%, it turns out, have their own 1%.”

Read more …


Lorene Trickey, a Meals on Wheels Columbia driver for 45 years, was honored by the organization in October

Meals On Wheels: The Spirit Of The Driver

News from Columbia Business School

“One evening in 1972, Lorene Trickey was flipping through the newspaper. She was 40 at the time, married with kids, and kept a busy volunteer schedule through her church, mostly working with homebound seniors. She felt fulfilled. She wasn’t looking to add much to her life.

“’I came across a sheet that said “Volunteers,”‘ Trickey remembers. ‘Usually, I’d ignore that, cause I’m already doing a lot in my church, school. But somehow or another, that caught my eyes, and it said they were wanting to have a meeting to organize a Meals on Wheels program for Columbia.’

“Trickey hadn’t heard of it — Meals on Wheels America, the largest MOW organization in the country, wouldn’t be founded for another two years — but it seemed to fit her interests. And she likes meeting people. ‘I admired them for thinking of this and for doing this, but I told them right off: I wanted to be a part, but I wanted to drive.’”

Read more …


A new honors management and human organization program will be available May 2018 in the Liberal Arts and Management Program building. Photo by Rose Bythrow

New Major Bridges Gap Between Business, Liberal Arts

News from Indiana University Kelley School of Business

“The College of Arts and Sciences will offer a new major stemming from the Liberal Arts and Management Program, which is an existing honors program that connects liberal arts with the Kelley School of Business.

“The management and human organization major, which will be available for registration in May 2018, provides students more access to these classes than the selective  program, which only accepts 60-80 students to work toward the honors certificate, LAMP Director Rebecca Spang said.”

Read more …

Harvard Business School Professor Anita Elberse is leading a new program that pairs NBA players with MBA student mentors to help young athletes up their business game

The NBA-HBS Career Connection

News from Harvard Business School

“Years ago, when children were asked what they wanted to be when they grew up, they often answered firefighter, astronaut, or teacher. Today, they’d likely say pop star, tech entrepreneur, or professional athlete.

“And why not be a pro athlete? Famous and admired, many get paid a lot of money to have fun playing sports. They devote years to perfecting their skills and competing to become the best. And given the long odds of making it, getting drafted by a pro team, signing a contract, or a getting a sponsorship deal can feel like winning the lottery.

“But for every savvy athlete-business whiz like basketball stars Magic Johnson or LeBron James, there are hundreds more who squander their earnings by getting involved in sketchy investment schemes, bankrolling risky ventures like restaurants, hiring family and friends for nonessential jobs, or simply living beyond their means.”

Read more …


Etinosa Obanor, representing global youth constituencies, addressed the high-level segment at COP23 on Nov. 16

Cornell Student Tells COP23 Delegates: ‘Face Up To Reality’

News from Cornell University Johnson Graduate School of Management

“On the world stage, Etinosa Obanor ’18 minced no words. Representing global youth constituencies at the high-level segment at the Conference of the Parties (COP23) in Bonn, Germany, Nov. 6-17, the student delivered a strong statement to the convention delegates as they negotiated and wrestled with climate change.

“’In the past, you’ve never stopped promising action,’ Obanor said. ‘But there is no need to keep talking endlessly in closed rooms, if you don’t face up to reality and act accordingly. Distinguished delegates, it is your choice if you want future generations to remember you as heroes of the century.’”

Read more …


How Attention From Top Managers Impacts Innovation

News from INSEAD
“It seems strange to buy something without using it, but people do it all the time. Some buy gym memberships, planning on changing their lives, but never get around to using them. Companies too make purchases believing that the purchase itself is enough to make a change at the firm. When licensing external knowledge, for example, management might believe that once the knowledge has been acquired, it is being used efficiently. But, like that unused gym card, buying outside knowledge on its own doesn’t mean that it is put to the best use. It needs to be integrated into the firm for the best result.

“Licensing outside knowledge is now a factor in the way that we innovate. More and more firms are moving from doing everything themselves to bringing in ideas from the outside through purchasing wholesale packages of knowledge. Two different licensing options are common – either standard licences, in which knowledge is bought without further engagement from the data/knowledge creator, or partnership/embedded licences, which establish a relationship with the provider.”

Read more …


Executives Step Ahead Of The Curve With The Latest Insights

News from London Business School

“Two hundred professionals visited London Business School in search of cutting-edge insights to keep them and their organizations ultra-competitive in today’s dynamic business environment.

“The full-day LBS Live event offered global executives from diverse backgrounds and industries a taster of the hot topics taught on the School’s Executive Education programs, as well as time away from their organizations to reflect and refocus.”

“Mark Wilson, finance director of family-owned group Squire’s Garden Centres and former vice president of corporate strategy at Unilever, attended the event. He said: ‘I saw this as an opportunity to get exposure to the bright lights of strategy.'”

Read more …


Part of the Baker Library collection: Account book of the Monte di Pietà (a charitable credit institution) in Rome, 1574-1643

How To Succeed In Business (According To A 15th-Century Trade Merchant)

News from HBS

“In what could be considered the first business how-to book, an Italian merchant from the 1400s advises leaders to be charitable, ethical, and treat people fairly; be modest; look for the right qualities in a wife; be selective in deals; and retire at 50, when ‘natural fervor abates, his blood calms down, his intelligence dims and his memory becomes less quick, so that he risks committing many errors in his business.’

“’In a sense, these are very early concepts of corporate social responsibility,’ says Harvard Business School professor of management practice Dante Roscini. ‘He’s addressing the issue of responsibility to the community and who you are as a person.’

“Written in 1458 in Venice by trade merchant Benedetto Cotrugli, The Book of the Art of Trade has just received its first English translation. Baker Library at HBS and the HBS Business History Initiative recently hosted a reception celebrating the new release. The library’s late medieval and early Renaissance Italian business records housed in HBS’s Historical Collections in Baker Library are among the largest and most important collections in the world outside of Italy.”

Read more …

DON’T MISS LAST WEEK’S BULLETIN

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GSB Dean Apologizes For Data Mishaps - Poets&Quants

Stanford GSB Dean Jonathan Levin

The dean of Stanford’s Graduate School of Business has publicly apologized to students, faculty and staff for how the school has handled access to confidential student and staff data on computer servers. His regrets occur after the university disclosed a second incident in which the school accidentally allowed access to  the names, birthdates, Social Security numbers and salary information for nearly 10,000 non-teaching university employees.

“These events are deeply regrettable, and I would like to express my apologies, personally and on behalf of the school, to anyone whose personal information might potentially have been compromised,” wrote Levin in a Nov. 30 email to the GSB community. “I, like many of you, remain disturbed by the errors that contributed to this unacceptable situation. We are now living in a world where we can easily generate and share large amounts of sensitive data, and we have not adapted. This in no way excuses what has happened, or comforts those whose data we were responsible for and did not secure adequately. But it means we should make every effort to learn and improve from our mistakes and errors.”

Two weeks earlier, Dean Levin disclosed that a computer breach at the business school had allowed at least one MBA student to gain access to confidential financial aid information for MBA students (see Stanford GSB Misled Applicants On Financial Aid). The breach exposed 14 terabytes of highly confidential student data detailing the most recent 5,120 financial aid applications from 2,288 students, spanning a seven-year period from 2008-2009 to 2015-2016.

DEAN LEVIN HAS NOT APOLOGIZED FOR THE SCHOOL’S DELIBERATELY MISLEADING FINANCIAL AID POLICIES

In his earlier communication, issued at 6:39 p.m. on a Friday, Nov. 17, before Thanksgiving, Levin conceded that the school had misled thousands of applicants to its MBA program on how it distributes financial aid to students. For years, the school has consistently maintained that it only granted scholarship support on the basis of a student’s financial need. But an MBA student, Adam Allcock, who gained access to the financial aid files found that was untrue. Instead, the school has been using fellowship grants to encourage the enrollment of women, domestic students and those with finance backgrounds regardless of their financial need. Levin has yet to apologize to students and alumni for the school’s failure to honestly communicate how it distributes more than $16 million a year in fellowship grants.

In a letter circulating among students on campus, Allcock has called out Dean Levin for how he has handled his communication of the school’s financial aid strategy. “I didn’t hear a ‘sorry’ in your message, or even an admittance that what the GSB had been doing was wrong,” wrote Allcock, a Class of 2018 student, who says he spent ten months analyzing the data to conclude that the business school has been less than honest about its scholarship policies. “Instead, I heard ‘sorry we got caught.’ The GSB secretly ranks students as to how valuable (or replaceable) they were seen, and awarded financial aid on that basis…The GSB also been systematically discriminating by gender, international status and more while lying to their faces for the last 10 to ~25 years.”

While many of the GSB’s peer schools dole out aid on the basis of both financial need and merit, Stanford and Harvard Business School are the only schools claiming that all of their scholarship support is based solely on need. The fact that Stanford has showered scholarship dollars on candidates with finance backgrounds–a key finding of the report that Allcock had sent to Dean Levin in October–suggests an admissions strategy designed to help the school maintain its lead in post-MBA compensation, a major component of MBA rankings. Typically, those candidates would be among the least requiring support on the basis of need.

STUDENT TO DEAN: ‘I STILL DON’T THINK YOU GET WHAT THIS MEANS TO STUDENTS’

Prior work experience in finance is generally required to land jobs in the most lucrative finance fields in private equity, venture capital and hedge funds. Stanford sends a higher percentage of its MBAs into higher paying PE and VC jobs than Wharton, Chicago Booth, Columbia, or Harvard. Last year the median pay for the 12% of the students that went into private equity was a class-high $177,500, well above the overall median of $136,000. Venture capital firms, which hired 7% of last year’s Stanford crop, paid median starting salaries of $167,500. Placing students in those jobs allows the school to consistently post the highest starting compensation for MBA graduates of any school in the world.

In his criticism of Dean Levin, Allcock asserts that the dean has failed to adequately address the impact the school’s financial aid policies have had on students and graduates. “I still don’t think you get what this means to students,” wrote Allcock in the email obtained by Poets&Quants. “Whether it’s to those students that were punished for saving before school, those that received more than expected and feel bad for it, or those that were deemed replaceable in your eyes and received an amount far below their requirements, financial aid is the determining factor in so much of our lives. It determines how much debt we’ll graduate with, what job we take after school, what country we can afford to live in and during school, whether we can be a member of the community. To me, it means missing out, and I’m sorry to my class for having made so many excuses as to why I can’t attend things.”

Though the school has insisted that it does not grant fellowship awards on the basis of merit, Dean Levin conceded two weeks ago that the GSB “has offered additional fellowship awards to candidates whose biographies make them particularly compelling and competitive in trying to attract a diverse class.” He promised that the school would be “significantly more transparent about the principles and objectives being applied in making financial aid awards, and about how different awards are made. We are committed to working on this for the current admissions cycle.”

CONTINUING WORK WITH A FORENSICS FIRM TO PREVENT FUTURE LEAKS

In his latest communication to students, faculty and staff, Leven explained that “the exposure of the financial aid and employee data came about in different ways, and they show that we must immediately take steps to improve our data security practices. The financial aid information was stored improperly in a shared folder in June 2016. The employee information, which had been retained on our drive for almost ten years, became exposed as the result of a mistaken change in permission settings in September 2016. Later, in February 2017, staff members learned that a Stanford GSB student had accessed confidential information on financial aid. At that time, the Stanford GSB Digital Solutions team recognized the permission problem and promptly secured the J: Drive folders. However, they did not understand the scope of the exposure and did not escalate it to me or relevant university offices for further investigation.

“The episode makes clear that we will need to implement improved practices around data security, and especially, to ensure that if problems are identified, they are escalated and promptly addressed in full,” added Levin. “To this end, we will be taking a number of actions. First, we will continue to work with the forensics firm and the Information Security and University Privacy Offices on the investigation. Second, we will be making some organizational changes in our Digital Solutions group. Third, we will be working internally at Stanford GSB and with others at the University to improve our file sharing systems and to build greater awareness in handling confidential data, assigning correct file permissions, and in identifying and reporting potential problems. I am confident that these steps can help us improve and strengthen our practices, and the institution.”

DON’T MISS: STANFORD MISLED MBAS ON FINANCIAL AID or CONFIDENTIAL DATA EXPOSURE WIDER THAN EARLIER REPORTED AT GSB

 

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Friday, December 1, 2017

Meet Minnesota Carlson’s MBA Class Of 2019 - Poets&Quants

Some of the MBA students in the Class of 2019 at the University of Minnesota’s Carlson School of Management

Every applicant has the same worry. ‘If I head to business school,’ they think, ‘I’m going to lose out. I’m sacrificing two years of income. I’m forking over a huge amount of money. After graduation, I have to start all over again – even if I land a job. Why do an MBA? Why take the risk?’

At the University of Minnesota’s Carlson School of Management, the answer can be summed up in one word: experience. In many ways, the program is designed for student-company partnerships – the kind where MBAs build their resumes by solving real issues in their field. In fact, the Carlson curriculum features the equivalent to two or more internships beyond the summer. In other words, a Carlson MBA builds resumes alongside skill sets – making graduates all the more attractive.

EXPERIENTIAL PROGRAM BUILDS RESUMES AND REDUCES RISK

How attractive? By August, 96% of the 2017 Class had already landed jobs. Good ones too. Look no further than the 2016 Class, which averaged $130,914 to start. Or how about the 2012 Class? Their pay has jumped by $55,200 since earning their MBAs. Add to that, Carlson’s intensive coaching acts as a two year onboarding process. Think of it as a safety net – supportive champions who can close gaps and soften edges before the stakes rise after graduation. And they can do all this in the Twin Cities – home to 17 Fortune 500 companies. In other words, students can tap into a steady streams of jobs, networking, and expertise within a 20 mile radius.

Why do an MBA at Carlson? Simple, it is a sure thing that pays off fast. This complete package is what inspired the Class of 2019 to come to the Land of 10,000 Lakes. “Apart from being one of the top schools in the U.S., the proximity to great companies, and having a small class size with world-class tutors, Carlson is the school that wanted me the most and that sealed the deal for me,” writes Olawale Ojo-Fati, a risk manager from Nigeria.

This sense of feeling welcomed is consistent across the 2019 Class. Lilly Chow, a digital marketing maven who studied sociology and public policy at Duke, was impressed by the “genuine care” shown by Carlson long before she enrolled. Rather than treating her like “applicant #240,” she recalls how the community took the time to learn about her background and interests. And this “TLC,” she says, has carried over since she arrived.

Michael Moriarty, a second-year at Minnesota Carlson listens to a presenter at Facebook headquarters. Photo by Wally Agboola for Minnesota Carlson

THEY’RE ROOTING FOR YOU AND YOUR SUCCESS

“In addition to that warm feeling of being valued, Carlson gives you a supportive, tightly-knit community, a robust network of successful alumni in the Midwest to help you with your professional pursuits,” she explains. “Carlson’s rooting for you and your success, which can be felt from day one, and it’s an incredible feeling.”

Beth Lokken also describes Carlson as “the only program where I felt like more than a number.” A native of nearby Anoka, Lok started with AmeriCorps before becoming a self-employed teacher in Istanbul. Soon after, she earned an M.A. in international education and spent four years in the non-profit sector. Carlson’s embrace of her non-traditional background, coupled with the “personalized” approach of the Graduate Business Career Center (GBCC), reinforced that heading home was her best bet to make a successful career transition. And the school’s “personal touch” didn’t hurt either.

“I was living in DC and a Carlson staffer in town for an event heard that I was pregnant, so she brought Carlson onesies for the baby,” Lokken exclaims.

MICROSOFT CHAIRMAN SEES HIMSELF IN CARSON FIRST YEAR

You’ll find quite the class at Carlson this fall. Their backgrounds range from a Norwegian process engineer at Shell (Aleksander Reinertsen) to a Stanford-trained army veteran who started his own company to served elders and young people in Native American communities (Pedro Reyes). Think of it as a class who sees no job as too big or no role as beneath them. Shannon McCormick, a Harvard grad who worked in information technology and played competitive water polo for a decade, calls herself “a driven, level-headed team player who rolls up her sleeves to get work done.” Jenna M. Johnson – who turned green belts into Six Sigma Black Belts at 3M – also describes herself as someone who is “willing to get my hands dirty.” In that respect, you can expect Atul Fotedar to be among those who’ll quickly raise his hand. A competitive marathoner and cyclist, Fotedar will bring a certain versatility to the class: “I am a self-determined thought leader who is passionate and argumentative yet culturally sensitive.”

Listening to how Napoleon Howell describes himself, you’d probably imagine him as a decorated athlete with phrases like “goal-driven,” “passionately tenacious,” “courageously decisive,” and an “intensely disciplined force of life.” And you’d be right, as he was once a national swimmer who spent a half dozen years on the Trinidad and Tobago national team. This competitive drive has served him well at work too. At Securian, he spearheaded a successful multi-million dollar initiative that was sponsored by the company CEO. How impressive is he? “John Thompson (Chairman of Microsoft) told me that I remind him of himself when he was young,” Howell shares.

What does the class see as some of their biggest accomplishments? Ojo-Fati, a biologist by training, managed to make the leap from scientist to banker at a top commercial institution. His secret to success? Like McCormick and Johnson, he put his nose to the grindstone. “I had to enroll for an accounting and finance professional degree and combined study with a 50 hour weekly work schedule.” During her tenure, Johnson was one of the most highly decorated leaders at 3M, with her unit racking up eight major global awards for operational excellence and quality control. She wasn’t alone: When Tiana Birawer served as the president of the Twin Cities chapter of Society of Marketing Professional Services, it was honored as the best chapter nationwide among 60 competitors.

APPLICATIONS UP 11%

Whatever you do, don’t worry whether Lokken can transition into whatever career she chooses. Just look at her time as a freelance teacher in Istanbul. “I started with one student and established a clientele base through word-of-mouth and advertisements. This was with mediocre Turkish skills and before smartphones, but I learned how to navigate several forms of public transportation to traverse all corners of a city of 15 million, building my confidence and independence along the way.”

You can feel this same confidence among the Carlson administration. Why not? During the 2016-2017 intake, the full-time MBA program boosted applications by 11%, with the number increasing to 665. What’s more, the program became more selective, with less than a third of applicants receiving acceptance letters (down from 45.2% last year). Overall, the class includes 88 students – including 14 students pursuing dual degrees, which represents a decline of 20 students despite stepped up demand.

Carlson’s Linh Giles

The largest segment of the class – 57% – hails from the Midwest. This makes a 12% decrease over last year, further reinforcing that Carlson is hardly a regional player. The west and southwest represent another 11% of the class, with international students taking up a fourth of the seats – a major upswing over last year’s 16% mark. The percentage of women in the 2019 Class held steady at 31%, while the percentage of minority students doubled to 16%. Long regarded as one of the most military-friendly programs, Carlson veterans account for an 18% share of the class.

A MAJOR PUSH IN ANALYTICS

Academically, Carlson upheld its usual standards, with the class arriving with a 690 median GMAT – the same as the class before. A year ago, social science majors displaced engineering as the largest bloc of undergraduate majors in the class. However, that was short-lived blip rather than a long-term trend. The Class of 2019 features a 24% share of engineers, up six points. At the same time, social sciences slipped three points to 17%, with math and sciences holding steady at 16%. The big loser, however, was economics, whose share was nearly sliced in half to 7%. Business majors represented the second biggest share of first-years at 20%.

Overall, 40% of the class majored in STEM-related fields. Not surprisingly, the school is catering to students in these areas. Notably, the program launched a dual MBA/MSBA degree in 2016, says Linh Gilles who heads admissions and recruiting for the program. As a result, the program boasts eight dual degrees, which cover areas like public policy, pharma, healthcare administration, law, and applied economics. In addition, Gilles notes, the program has increasingly infused quantitative concepts throughout the curriculum.

“Analytics is now more present throughout our program and we are expanding coursework and elective opportunities,” Gilles tells Poets&Quants in a statement. “It is a competitive differentiator for our students as our recruiters and partners are telling us there is a real need for business leaders with strong capabilities in data analytics.”

A LEADER IN HEALTHCARE GETS EVEN STRONGER

Gilles is also quick to note that 17% of Carlson grads chose the healthcare industry, second-highest among leading MBA programs. She views a new grant from the UnitedHealth Foundation as a game changer that will reinforce the school’s market leadership in the area. “The grant will enable us to build on our existing strengths in healthcare education and placement and do an even better job of preparing the talent who will influence the future of healthcare,” she says.” The UnitedHealth grant is focused on the intersection of healthcare and analytics and will allow us to expand our already unrivaled experiential learning opportunities. It will also allow us to create more opportunities for MBA students to engage with our faculty, students across the university, and the healthcare community through the creation of a data “sandbox” and a healthcare “hackathon” to tackle industry issues.”

Go to page 2 to see in-depth profiles of incoming Carlson MBA students.

The Carlson School of Management

Such innovation, coupled with continued excellence and an impressive network, attracted Mao Mao, a human resources professional who has managed training for nearly 3,000 medical professionals in her native China. “I spent the last 14 years in healthcare,” she points out. “The program offers opportunities within some leading healthcare companies and a wide variety of medical industry employers, including Mayo Clinic. I can see Carlson’s network and influence among with employers from the very outstanding job placement rate. I have no doubt that Carlson offers the best MBA education and career preparation, especially in the healthcare industry.”

For McCormick, the biggest draw is the school’s Medical Industry Leadership Institution (MILI), a program designed to channel medical innovation through management excellence. “It provides students the opportunity to research complex healthcare issues, partner with the many medical companies in the Twin Cities, and tailor their MBA toward a healthcare specialization,” she explains. “I believe MILI will provide me the tools needed to take my career to the next level and enact greater change in the healthcare industry.”

CANDIDATES HEAD BACK TO WORK WITH THE ENTERPRISE EXPERIENCE

Such partnerships are the signature feature of the Carlson MBA program. No offering better personifies this philosophy than its legendary “Enterprise” experience. Think of it as a full-on commitment to experiential learning, a learning laboratory that applicants would be hard-pressed to find anywhere else. Covering first-year spring and second-year fall semesters, the required Enterprise program places students in five member teams where they partner with local companies – often for an entire semester.

Forget crunching numbers or conducting surveys in the background. Instead, students are front-and-center – and held accountable for producing sustainable solutions for their clients.

Carlson School of Management Dean Sri Zaheer, center, signs the Principles of Responsible Investing flanked by NAME, left, Susanna Gibbons (standing), NAME, and Rebecca Blumenshine, MBA ’17. Courtesy photo

As part of the program, students can choose one of four enterprises: branding, consulting, funds, and venture. Here, students may end up working on a semester-long project – or a couple of shorter ones. For example, branding students will wrestle with everything from developing go-to-market strategies to unraveling supply chain bottlenecks. In the fund portion, students manage two funds worth a collective $35 million dollars, handling day-to-day operations like conducting due diligence, authoring proposals, and pitching ideas to committees and boards.

In a nutshell, the Enterprise experience simulates exactly what students will face in real world situations by giving them real hands-on experience with real clients that have real impact. In the process, students work alongside senior executives and seasoned practitioners in their field, enabling them to audition for potential jobs or carve out a deeper network. They also receive heavy dose of counseling from faculty, staff, and clients to bring out their very best.

PACK YOUR BAGS – YOU’RE HEADED OVERSEAS

“When selecting an MBA program, I was focused on two aspects: opportunity and fit,” says Jack Barnes a field artillery officer looking to transition into finance. “With regards to opportunity, I was looking for a program that provides both a hands-on learning experience and job placement. Carlson’s Enterprise Program allows students to put classroom knowledge to practice by working on real-world projects for actual companies.”

Along with providing experience to career changers, the Enterprise experience also improves the hiring odds for international students adds Fotedar. “Carlson’s experiential enterprises give students the opportunity to understand current industry challenges. This is a boon for international students who do not have the experience of a U.S. business.”

Carlson’s international component is another cornerstone of the curriculum. A pioneer in global business, Carlson also requires a Global Discovery program. This course includes a two-week international excursion in settings ranging from China to Costa Rica. Here, students are exposed to hurdles and nuances inherent to conducting business in multinational settings – and gain a working knowledge of the differing norms along the way.

FROM MANUFACTURING TO AGRIBUSINESS TO HEALTHCARE, THE TWIN CITIES HAVE YOU COVERED

Such hands-on projects and global programs are easier to facilitate in the Twin Cities, an underrated commercial hub with a dizzying variety of industries and deep roots in markets across the world. Just cruise along the metro’s beltlines and you’ll see the landmark firms that call the area home: 3M, General Mills, Target, U.S. Bancorp, UnitedHealth Group, and Ameriprise. While it may be cold in January, the tech and startup scene are vibrant year round. Over the past year, the area has opened three new accelerators. At the same time, $284 million dollars in investment has flooded into the area over the past 12 months, headed by Neochord (medical device maker), Rebiotix (pharmaceuticals), Bright Health (health insurance), Conservis (farm management software), and Gravie (health insurance). Indeed, healthcare is fast becoming the Gopher State’s bread-and-butter as it has emerged as the second-largest producer of medical devices.

The University of Minnesota sits alongside the Mississippi River and overlooks downtown Minneapolis.

 

This mix fosters synergies between companies of various sizes and industries. This only increases the value of a MBA from Carson, where professors team up with top area companies on research and alumni often maintain Carson clubs at their firms. “The Twin Cities has a robust economy and is home to a variety of Fortune 500 companies and other large employers who actively recruit Carlson graduates,” observes Barnes. “After speaking with Carlson’s admissions personnel, current students and professors, I knew that Carlson was the right fit for me. The small classes, dedicated professors and a community interested in seeing all its members succeed made Carlson the school I wanted to attend.”

Best of all, students don’t have to trade quality of life to enjoy a diverse economy that fuels jobs. Clean and Midwest friendly, the Twin Cities are also defined by first-rate shopping, the largest theater scene west of Broadway, and farmers markets that are second to none. For Sneha Ravindar, a second-year MBA candidate from India who is already ticketed to Amazon after graduation, the area has become like a second home.

FINDING A PATH…AND SOME FUN!

“Living in Minneapolis, I feel absolutely safe, especially as a woman and an international student, and interacting with a warm community of smart leaders and delightful military veteran classmates at the Carlson School of Management has been a highlight,” she writes in a 2017 essay with Poets&Quants. “The University campus is peppered with picturesque landscapes of fall trees and colored vines climbing quaint houses. The view of the Mississippi River slicing our beautiful campus in half is breathtaking. Through Carlson and its many events, I have witnessed Goldy Gopher’s crazy shenanigans and experienced a wonderful culture of theatre and arts, adventure sports, tailgating, brewery hopping, prom, and several black-tie events. In addition, I have had amazing opportunities to learn softball, ice skating, and golf. I have enjoyed my first experience of snow, first Halloween pumpkin carving, first Thanksgiving, and first Christmas with a delectable feast surrounded by radiant classmates and their families.”

The Class of 2019 can expect much of the same. While many define first year success in terms of internships and job offers, others take a more personal view. Ojo-Fati, for one, hopes to keep an open mind so he has “a clearer picture of what my career path would be.” In contrast, Fotedar is looking to make an impact, with the hope of being the type of leader “where talented and curious individuals would choose to work with me at the first opportunity.”

At the same time, Birawer hopes to have savored an experience that leaves her with the same buoyant wonder as Ravindar when she becomes a second year. “I want to be able to point to the classmates and professors that helped guide me along this path,” she writes. “And I want to be able to recount the fun, adventures and new experiences that I experienced throughout the year.”

To read profiles of incoming Carlson MBA students — along with their advice on tackling the GMAT, applications, and interviews — click on the links below.

DON’T MISS: MEET MINNESOTA CARLSON’S MBA CLASS OF 2018 OR THE PIONEERING MBAs OF THE CLASS OF 2019

Name Hometown Alma Mater Employer
 Jack Barnes  Victoria, MN  United States Military Academy  U.S. Army
 Tiana Birawer  Cape Coral, FL  University of Florida  Ryan Companies
 Lilly Chow  Yardley, PA  Duke University  360i
 Atul Fotedar  Simla, India  Thapar University  Whirlpool
 Napoleon Howell  Minneapolis, MN  St. Cloud State  Securian Financial Group
 Jenna M. Johnson  Plymouth, MN  University of Minnesota  3M
 Beth Lokken  Anoka, MN  Arizona State University  AmeriCorps VISTA
 Mao Mao   Chengdu, China  Sichuan University  West China Hospital
 Shannon McCormick  Danville, CA  Harvard College  Optum
 Olawale Ojo-Fati  Lagos, Nigeria  Federal University of Technology, Akure  Skye Bank PLC
 Aleksander     Reinertsen  Stavanger,   Norway  Norwegian University of Science and     Technology  Shell
 Pedro Reyes  Sacramento, CA  Stanford University  Arthur, Chapman, Kettering, Smetak &     Pikala

Jack Barnes 

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: Army Veteran dedicated to achieving results through leadership, hard work, and a commitment to my team.

Hometown: Victoria, MN

Fun Fact About Yourself: I have never personally owned a TV. I do occasionally watch Netflix on my laptop, but I generally try to avoid sitting in front of a screen. Without a TV, I’m forced to get out of the house and spend time doing things that are more engaging.

Undergraduate School and Major: United States Military Academy, BS Economics 

Employers and Job Titles Since Graduation: Field Artillery Officer, US Army

Describe your biggest accomplishment in your career so far: While serving as the second in command of a hundred-person unit, I was responsible for restructuring our core capabilities. This included overseeing the transfer of $25 million worth of tracked vehicles, like tanks, and obtaining wheeled vehicles and howitzers. During my last year in the Army, I managed the deactivation of another unit, which transferred $50 million worth of property and relocated 199 personnel. Both experiences provided unique learning opportunities and allowed me to develop a background in business while serving in the Army.

Looking back on your experience, what one piece of advice would you give to future business school applicants? If I were to do anything different, it would be the approach I took for the GMAT. If I could start the process over, I would approach the GMAT with a longer and more structured study program. First, I would sign up for and take the actual GMAT before studying to get the best gauge of where I was at. From the results, I would focus 75% of my efforts toward the weakest areas and 25% maintaining the areas in which I did best. I’d break down my studying into 90-minute practice sessions six days a week. Each practice session would focus on one specific area. Every other Saturday, I would take a practice exam online. I would maintain this schedule for the length of time needed to study every area in which I needed to improve. Once complete, I would want to take the official GMAT within three days of the last study day.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? When selecting an MBA program, I was focused on two aspects: opportunity and fit. With regards to opportunity, I was looking for a program that provides both a hands-on learning experience and job placement. Carlson’s Enterprise Program allows students to put classroom knowledge to practice by working on real-world projects for actual companies.

With regards to job placement, the Twin Cities has a robust economy and is home to a variety of Fortune 500 companies and other large employers who actively recruit Carlson graduates. After speaking with Carlson’s admissions personnel, current students and professors, I knew that Carlson was the right fit for me.  The small classes, dedicated professors and a community interested in seeing all its members succeed made Carlson the school I wanted to attend.

The veterans program is another component of fit that was appealing. The network and support from the veteran program has helped me transition from the military into school.

What would success look like to you after your first year of business school? Getting my MBA serves a means to enter the financial industry after having spent the last five years in the military. Tangibly, success after the first year would be landing and excelling in a summer associate internship with an investment bank.

Tiana Birawer 

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less:  A problem-solving, enthusiastic, motivational leader who takes the time to understand those around her. 

Hometown: Cape Coral, Florida

Fun Fact About Yourself: I moved to Minneapolis after college on an adventurous whim.   

Undergraduate School and Major: University of Florida/Journalism major with a minor in Business Administration

Employers and Job Titles Since Graduation: Ryan Companies US – Regional Marketing Manager

RSP Architects – Marketing Manager

Collaborative Design Group – Marketing Coordinator

Describe your biggest accomplishment in your career so far: In 2016, I was president of the Twin Cities chapter of Society of Marketing Professional Services, a professional association for marketers. I was awarded the national organization’s President of the Year award based on my excellence in leading the 150-member group locally. Being chosen from among 60 of my peers nationwide was a tremendous honor, and an affirmation that leadership and management is where I excel.

Looking back on your experience, what one piece of advice would you give to future business school applicants? My biggest advice is to do all that you can to make yourself the best candidate you can be. I knew I wanted to attend business school back in 2011, but I was presented with career and civic opportunities that were too good to pass up. However, because of these experiences, I know I was a better applicant, and will be able to offer more to my classmates. Most schools look at the whole person (GMAT scores, essays and recommendations), so take the time to find out who you are and what you uniquely have to offer the community before you apply.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? As someone who is a career-switcher, I was looking for a school that offered me the opportunity to explore different facets of business, leadership and management. Carlson was able to offer me this through their large alumni network, multiple experiential learning opportunities, and engagement in clubs and organizations.

What would success look like to you after your first year of business school?  In a year, I want to be able to look back and see the positive growth I’ve made to becoming a better business leader. I want to be able to point to the classmates and professors that helped guide me along this path. And I want to be able to recount the fun, adventures and new experiences that I experienced throughout the year.

Lilly Chow 

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: Charismatic, quirky, always smiling, surprising everyone with my love for ‘90s karaoke and crime shows

Hometown: Yardley, PA (35 miles northeast of Philly)

Fun Fact About Yourself: The first concert I ever attended was Clay Aiken… fun fact or just embarrassing?

Undergraduate School and Major: Duke University, Sociology (with Distinction) and Public Policy Studies – double major

Employers and Job Titles Since Graduation:

Colle+McVoy – PR Associate (6/2012 – 5/2013)

Analyst (5/2013 – 9/2014)

360i –Senior Analyst – Insights & Planning (10/2014 – 6/2015)

Manager – Insights & Planning (7/2015 – 6/2017)

Metro Dogs MN – Social Media Freelancer (6/2013 – Present)

Describe your biggest accomplishment in your career so far: At my previous company, I was provided with the opportunity to move to Chicago to elevate collaboration between my NYC-based department and various teams within the growing Chicago office. Once in Chicago, I increased my department’s presence and became the go-to resource, resulting in more integrated client work – notably with projects for the Minneapolis-based Target Corporation.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Talk to as many MBAs (current and already out of school) as you can throughout the whole process. They don’t necessarily have to be from the schools you’re applying to. Gaining insight on business school, itself, and what it can provide for you and your career, will be immensely helpful as you determine if you want to go and how you can approach the application process and the two years in the best way possible.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? Carlson genuinely cares about you. What really sealed the deal for me was even prior to my admittance or acceptance, I could feel that Carlson was already completely invested in me and my career—providing me with personal attention and taking the time to get to know my background, skills, and interests to determine where I could excel. I was immediately taken in as one of their own, rather than applicant #240.

This TLC carries over in an even bigger way once you are an enrolled student. In addition to that warm feeling of being valued, Carlson gives you a supportive, tightly-knit community, a robust network of successful alumni in the Midwest to help you with your professional pursuits, and the (required) opportunity to gain real-life experiences across three semesters with the Enterprise Program. Carlson’s rooting for you and your success, which can be felt from day one, and it’s an incredible feeling.

What would success look like to you after your first year of business school?  Having an internship that I’m excited about!

Atul Fotedar

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: A self-determined thought leader who is passionate and argumentative yet culturally sensitive.

Hometown: Simla, India

Fun Fact About Yourself: I will take up a challenge anytime given its merits. The last time I did this was my first marathon in Singapore, which I completed in 5 hours, 31 minutes without any training (not recommended!). A few months prior, I cycled about 300 kilometers for 18 hours across four states in India and used this experience as a means to create awareness about health and fitness. 

Undergraduate School and Major: B.E. in Electronics and Communications from Thapar University, Patiala, India.

Employers and Job Titles Since Graduation:

Whirlpool India: 

Young Leaders Development Program – Graduate Engineering Trainee

Deputy Manager – Quality

Whirlpool Corporation:

Operations Manager – KitchenAid Asia Pacific

Describe your biggest accomplishment in your career so far: A growth market and a new team in a new region mean turbulent operations with huge opportunities. In the Asia Pacific region, the supply chain was not only struggling but even customer orders and shipments were as ad hoc as possible. Despite efforts by the corporate team in the U.S., the regional team did not have a functional warehouse in Asia, even after two years of negotiations.

I was tasked with getting warehouse operations up-and-running, and even though I was just one month on the job, I managed to liaise with the right people and make sure priorities were set with definite timelines. I understood the leadership’s expectations and set out to define the team’s goals. After a few weeks of 2 a.m. transcontinental conference calls, we had our Asia Hub ready with ocean lanes to deploy products to 11 regional distributors within Asia. After understanding the requirements, I was successful in getting the right product and the first shipments out to our customers.

I learned that sometimes despite the best intentions, market demand and even visible return on investment, there will be challenges in business execution if there isn’t clarity in communication. This is of even greater importance especially in large multinational business operations.

Looking back on your experience, what one piece of advice would you give to future business school applicants?  The GMAT is just a part of the application. The importance of the rest of the application far outweighs the time and focus students typically spend on quizzing about their GMAT score. Make sure you connect with current students and use resources such as Poets & Quants and GMAT Club in order to get a perspective on the application process and understand what a business school seeks in a candidate. Reach out to current or past students and don’t hesitate to ask questions or be mentored.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? The return on investment should be of prime concern to international students like me. I chose Carlson because it is consistently ranked one of the top graduate business programs for return on investment. Secondly, Carlson’s experiential enterprises give students the opportunity to understand current industry challenges. This is a boon for international students who do not have the experience of a U.S. business. Carlson is also situated in the neighborhood of 18 Fortune 500 companies, which made it a top choice as a business school for me.

What would success look like to you after your first year of business school?  Eventually in my career I would like to lead a multinational business unit. Immediately after business school, I would have built a leadership mindset because I learned from a diverse group of students and their experiences. For me, success would mean I have a strong professional network and I am in a position where I can give back to the community. I want to have a positive impact on people around me and would like to be in a position where talented and curious individuals would choose to work with me at the first opportunity.     

Napoleon Howell 

Carlson School of Management, University of Minnesota 

Describe yourself in 15 words or less:  I am a goal-driven, passionately tenacious, courageously decisive, innately curious, intensely disciplined force of life.

Hometown:  Minneapolis, MN

Fun Fact About Yourself: 

  • Former national swimmer (six years on Trinidad and Tobago national team).
  • John Thompson (Chairman of Microsoft) told me that I remind him of himself when he was young.
  • Hosted/singularly moderated an enterprise-wide, broadcasted, hour-long discussion with Securian Financial Groups CEO Chris Hilger.
  • Actively being mentored by Gilead Sciences CFO (and Salesforce/Honeywell board member) Robin Washington.
  • Avid TED Talk consumer/advocate.
  • Attended a Miss Universe Pageant when I was 12 years old.

Undergraduate School and Major:  St Cloud State University, Management Major, Finance Minor

Employers and Job Titles Since Graduation: Central Bank of Trinidad and Tobago: VIP Intern; Securian Financial Group: Leadership Development Program; Advantus Capital Management: Investment Tech Analyst; Securian Financial Group: Innovation Consultant

Describe your biggest accomplishment in your career so far: Successfully managing and co-leading a multimillion-dollar strategic enterprise initiative (sponsored by Chris Hilger, Securian’s CEO) focused on developing and launching a minimum viable product for middle-market consumers. This initiative has helped and will continue to help Securian penetrate the untouched middle-market consumer base while driving increased revenue and market share, product and customer diversification, and heightened cross-business-unit collaboration. While co-leading this initiative, I acted as a key enterprise Vision 2020 leader, driving enterprise cultural change as prescribed by Securian’s CEO.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Understand that the admissions process is in fact a ‘process’ and that no singular data point can make or break your chances to be accepted into business school if you can clearly articulate your unique value-added proposition to the program. If you can clearly demonstrate to the admission team your unparalleled capabilities, inimitable personalit,y and experiences that can be leveraged to enhance the program, then your chances of acceptance will be enormously heightened.  

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you?  The key factor that led me to choose the Carlson School of Management is rooted in the fact that I believe Carlson will act as a prodigious incubation hub to enhance me both as a business leader and as a compassionate, philanthropic being. Through Carlson’s unique Consulting Enterprise program and robust community engagement efforts, I will be granted the opportunity to further develop the requisite skills needed to prepare me to be a valued global citizen and conscious business leader. This is vitally important to me because I believe conscious business leadership is very much needed in today’s world given the proliferation of greed and egocentric business practices that have pervaded the cultural makeup of many businesses. Shifting this narrative is one of my main goals coming out of Carlson.

What would success look like to you after your first year of business school? Success after my first year will look like the following:

  • I will have pride in my accomplishments (academic/extra-curricular).
  • My hard work and sense of purpose will have given me opportunities to accomplish my many goals.
  • I would have actively and consistently been pushed out of my comfort zone.
  • I would have built a strong connection with my classmates and prospective employers.
  • My talents and skills would have been leveraged by my classmates and the wider community in a value-added manner.
  • I will have accepted a summer internship with an organization that I am passionate about, aligns with my values, and one that will help me further grow as a leader.
  • I would have aided my fellow classmates achieve their goals and desired success metrics.

Jenna M. Johnson 

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: Regardless of how big or small the job, I’m willing to get my hands dirty.

Hometown: Plymouth, Minnesota

Fun Fact About Yourself: I worked as an Engineer installing capital equipment in the world’s largest sponge factory. I have crawled into scary small spaces to spec out equipment and I have literally solved problems while standing in 10 inches of sludge. Whatever it takes to get the job done!

Undergraduate School and Major: University of Minnesota; Bachelor of Science in Chemical Engineering; Bachelor of Science in Chemistry

Employers and Job Titles Since Graduation:

From Newest to Oldest:

3M- Lean Six Sigma Black Belt

3M- Advanced Resident Engineer

Ecolab- Senior Chemical Engineer- Project Leader

Ecolab- Senior Chemical Engineer

Ecolab- Chemical Engineer

Describe your biggest accomplishment in your career so far: The accomplishment that I’m most proud of revolves around helping others achieve their best. In my three years as a Lean Six Sigma Black Belt, I was able to coach my team of 20 Green Belts to execute projects that earned 8 major global corporate awards for operational excellence, and quality improvement. It was so rewarding to help my colleagues gain recognition and honor for their hard work. Our team consistently won the most global operational excellence awards within our business unit.

Looking back on your experience, what one piece of advice would you give to future business school applicants? It is so important to frequently practice the GMAT exam under real world conditions. Every Saturday leading up to the exam, I woke up early, headed to the library and completed a full practice test. I tried to simulate exam conditions during my practice sessions. I took 8 practice tests prior to the real test. I was incredibly comfortable on exam day and I believe that my extensive use of practice tests is what earned me a great score.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? The University of Minnesota’s Carlson School of Management is the premier MBA program in Minnesota and the surrounding area. A degree from Carlson will help open doors and align me with a diverse and respected network of Carlson alumni. I desire to advance my career in the Twin Cities and Carlson is the school that is most equipped to help me achieve that goal.

What would success look like to you after your first year of business school?  My background is in manufacturing, but I want to pursue a career in marketing – specifically brand management.  There are so many unrealized synergies between marketing and manufacturing and I want a shot at implementing them. I would love to work for a manufacturing company, apply my knowledge of manufacturing efficiencies to improve gross margin on a portfolio of products, and drive gains on the brand’s P&L.

Beth Lokken  

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: A strong woman looking to make a societal impact by helping organizations perform better.

Hometown: Anoka, Minnesota, but I’ve lived in Washington, DC for the past five years

Fun Fact About Yourself:  During college, I spent a year in South Africa training to be an archaeologist. I wrote my thesis about tortoise bones found at a stone age site.

Undergraduate School and Major: B.A. in Anthropology from Arizona State University, M.A. in International Education from George Washington University

Employers and Job Titles Since Graduation:  All of my experience since graduation has been in the non-profit and international education sectors in a variety of roles, including a year of volunteer service as an AmeriCorps VISTA volunteer. I spent two years teaching English in Istanbul, followed by roles with George Washington University and the Fund for Education Abroad while I was completing my master’s. For the past four years, I have worked in business development for international non-profit organizations focused on international education.

Specific employers and job titles:

  • AmeriCorps VISTA, Homework Center Coordinator (AmeriCorps VISTA Volunteer)
  • Istanbul Language Center and later self-employed, English Teacher
  • George Washington University, Program Assistant for the Master Teacher Leadership Development Program
  • Fund for Education Abroad, Program Manager
  • RTI International, Program Development Coordinator and later Research Education Analyst
  • Institute of International Education (IIE), Program Development Specialist

Describe your biggest accomplishment in your career so far: In the midst of the recession in the U.S., I got an English teaching certification and taught English in Istanbul, Turkey. After spending a year working at an adult language school, I struck out on my own and built a full-time freelance business with clients all over the city. I started with one student and established a clientele base through word-of-mouth and advertisements. This was with mediocre Turkish skills and before smartphones, but I learned how to navigate several forms of public transportation to traverse all corners of a city of 15 million, building my confidence and independence along the way.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Remember that you’re evaluating schools at the same time they are evaluating you! Just because a program is highly-ranked doesn’t mean it will be the right fit for you and your career goals. For this, there is no substitute for the campus visit. The ability to get a feel for campus, city, and program culture is an absolute necessity. Take advantage of opportunities like women’s weekends and Carlson’s “Connect with Carlson” event held in the fall. I regret not visiting all of the schools to which I applied because I found myself choosing between two I had visited in the end.

Ultimately, I selected Carlson because I felt like the culture was a better fit, which I discovered through my campus visit. If you can’t visit, ask to be put in touch with a student with a similar profile – age, background, family life, post-MBA goals, etc. I was pregnant when I applied to business school, so I tried to speak to parents of young kids to get a feel for how they balanced the program with parenthood. Through those conversations, I learned about the level of support offered to parents by the program, students’ ability to schedule group work around family responsibilities, and even the availability of lactation spaces near classrooms. These conversations greatly influenced my decision, as current parents at Carlson said that the program’s staff and faculty were incredibly supportive.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? I applied to five schools and was accepted to four with comparable levels of scholarship funding, so it was a difficult choice. But – and I know this sounds cliché – Carlson was the only program where I felt like more than a number.

The program is small and the entire recruitment process had a personal touch, so it gave me the sense that the program would be highly personalized as well. I was living in DC, and a Carlson staffer in town for an event heard that I was pregnant, so she brought Carlson onesies for the baby! When I spoke with current Carlson students, they told me that the Graduate Business Career Center (GBCC) worked with them individually to truly understand what type of career and/or company would be the right fit. I know which direction I’d like to go after my MBA. Coming from the non-profit world, I’m a career switcher so I’m not totally sure how to get there. I’ll need that personalized help to figure it out. Combine this with the promise of free babysitting from my parents, who live only 30 minutes away, and Carlson was a no-brainer!

What would success look like to you after your first year of business school?  I’ll have a better understanding of the right next steps in my career path, the skills needed to take those steps, and an internship that will provide an avenue to apply what I have learned to a new industry.

Mao Mao 

Carlson School of Management, University of Minnesota 

Describe yourself in 15 words or less: I choose to meet challenges head-on no matter how hard the situation is.

Hometown: Chengdu, Sichuan, China

Fun Fact About Yourself:  I am obsessed with organic things, such as organic toothpaste, organic dish soap and organic cosmetics.

Undergraduate School and Major: Preventive Medicine/Sichuan University; MPH/University of Illinois Chicago

Employers and Job Titles Since Graduation: HR Manager, West China Hospital

Describe your biggest accomplishment in your career so far: I successfully managed the continuing education and overseas training programs for more than 2,800 healthcare professionals in Western China.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Practice your interview skills. Interviewing is definitely the best tool for you to stand out as the best applicant, especially if you do not have a very outstanding GMAT or GPA score.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you?  I spent the last 14 years in healthcare, so I think network is the key reason I chose Carlson. The program offers opportunities within some leading healthcare companies and a wide variety of medical industry employers, including Mayo Clinic. I can see Carlson’s network and influence among with employers from the very outstanding job placement rate. I have no doubt that Carlson offers the best MBA education and career preparation, especially in the healthcare industry.

What would success look like to you after your first year of business school?  Secure a job.

Shannon McCormick

Carlson School of Management, University of Minnesota 

Describe yourself in 15 words or less: I am a driven, level-headed team player who rolls up her sleeves to get work done.

Hometown: Danville, CA

Fun Fact About Yourself: I played water polo competitively for 10 years.

Undergraduate School and Major: Harvard College, Organismic and Evolutionary Biology

Employers and Job Titles Since Graduation:

Optum – Senior IT Systems Analyst

Modis – Contractor as Project Manager and Business Analyst

Epic – Application Manager

Describe your biggest accomplishment in your career so far: My biggest career accomplishment to date has been performing risk mitigation on a highly escalated IT healthcare systems project. The goal of the project was to implement a new revenue cycle management system for a 260-clinic health system with over 3,000 providers. I was assigned midway through the project as a program manager. Shortly after onboarding, I discovered the project was much further behind than anyone knew and that these issues were not being properly escalated. I first escalated how off track the project really was and then worked with my colleagues to strategize ways to remediate the project issues from a scope, resource, schedule, and budget perspective. After revising the project scope and budget as well as creating resolution plans for known issues, we were able to develop a new program plan that leadership signed off on and that ultimately provided us the roadmap needed to deliver a satisfactory product to the customer in a timely fashion.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Be authentic in why you are applying to business school and what you hope to get out of it. This will enable you to write a compelling essay and have a conversant and memorable admissions interview. 

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you?  I chose Carlson because I was impressed by the number of professional development resources and highly personalized experience the school offers. The key resource I am interested in is the Medical Industry Leadership Institute, which provides students the opportunity to research complex healthcare issues, partner with the many medical companies in the Twin Cities, and tailor their MBA toward a healthcare specialization. I believe MILI will provide me the tools needed to take my career to the next level and enact greater change in the healthcare industry.

What would success look like to you after your first year of business school? I’ll consider myself successful after my first year of business school if I know my classmates and professors well, have a solid understanding of financial principles, and had a productive summer internship.

Olawale Ojo-Fati

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: Great listener, able to make the most difficult decisions while remaining incredibly calm.

Hometown: Lagos, Nigeria

Fun Fact about Yourself: I love walking barefoot. In 2015, I participated in a charity initiative that involved walking barefooted over a 20 mile distance in a small town in Nigeria. The aim was to raise funds for a local orphanage.

Undergraduate School and Major: Federal University of Technology, Akure – Biological Sciences

Employers and Job Titles since Graduation:

Power Holding Company of Nigeria, Sales Representative (2010 – 2011)

Skye Bank Plc, Risk Manager (2012 – 2017)

Describe your biggest accomplishment in your career so far: I earned a science degree during my undergrad, so working in one of the key departments of a top commercial bank after graduation was tough. I had to enroll for an accounting and finance professional degree and combining study with a 50 hour weekly work schedule was hard. There were times when I was tempted to just abandon the job and start all over in a new field, but I was determined to succeed. I completed the degree after a few years, got a great hang of my job, and was majorly involved in an award-winning consolidation process of another commercial bank in Nigeria.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Rankings are a good way to decide what school to attend, but I personally think it’s better to attend a school that is the best fit for your personality. Start researching early and really spend time studying for your GMAT or GRE as they are tricky exams.

Also, take time out to visit schools you are applying to. Talk to alumni, current students, and admissions committee members and make sure you get second opinions on your application essays (not too many opinions though).

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you?  Apart from being one of the top schools in the U.S., the proximity to great companies, and having a small class size with world-class tutors; Carlson is the school that wanted me the most and that sealed the deal for me.

What would success look like to you after your first year of business school? 

I have made a personal commitment to keep an open mind in respect to my career goals. After my first year, I hope to have a clearer picture of what my career path would be.  Success would also be having a great network of friends and carrying out my internship in a great company.

Aleksander Reinertsen  

Carlson School of Management, University of Minnesota 

Describe yourself in 15 words or less: Creative, active, transatlantic. Loyal, fair, patient, diplomatic.

Hometown: Stavanger, Norway

Fun Fact About Yourself: Have you ever been stuck in a helicopter that’s crashed upside down on water? Me neither. But in case it should happen, I have the relevant training.

Undergraduate School and Major: Integrated Master’s Degree in Mechanical Engineering from the Norwegian University of Science and Technology (NTNU)

Employers and Job Titles Since Graduation: Process Engineer at Shell

Describe your biggest accomplishment in your career so far: Working on a successful North Sea secondary oil recovery project that now provides additional earnings in the millions each year. This was while I was in my first role at Shell, and the project was successful both for my team and me personally. In the project, I pushed for a change that ended up saving the project a six-digit amount.

Looking back on your experience, what one piece of advice would you give to future business school applicants? To non-native English speakers like myself: Work on your language skills. Starting with your GMAT, you will benefit greatly if you proactively work on your comprehension, vocabulary and writing.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? Having seen first-hand the journey of Carlson students, from their first setting foot on campus to graduating and landing prestigious jobs, I know the Carlson MBA program will provide me with the foundation I need to continue my professional journey. In addition, the stories graduates tell about their time at Carlson are stories of an overall great student experience. The combination of strong academics, the school’s proven ability to really equip students for a career in business, as well as a great environment to study in, made me choose Carlson.

What would success look like to you after your first year of business school? Strong collaboration and a close-knit community among the Class of 2019 MBA students.

Pedro Reyes 

Carlson School of Management, University of Minnesota

Describe yourself in 15 words or less: My Crow name is Chew a Gesh, which means Prays on the Mountain. So, I’m always looking for my next mountain to climb.

Hometown: Sacramento, CA.

Fun Fact About Yourself: Collects crush pennies, the ones with pictures on them.

Undergraduate School and Major: Stanford University, BA English

Employers and Job Titles Since Graduation: Consultant. Law Clerk.

Describe your biggest accomplishment in your career so far: I was able to start my own business after leaving the Army helping elders and youth in Native American communities.

Looking back on your experience, what one piece of advice would you give to future business school applicants? Reach out to the admissions staff. They helped me a lot during the application process.

What was the key factor that led you to choose this program for your full-time MBA and why was it so important to you? I chose Carlson because of their dual degree program. I knew diversifying my skills would make me more marketable as well as give me more control over my career.

What would success look like to you after your first year of business school? Gaining a better understanding of how law and business work together.   

The post Meet Minnesota Carlson’s MBA Class Of 2019 appeared first on Poets&Quants.



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Data Exposure At Stanford GSB Wider Than Reported - Poets&Quants

The iconic Hoover Tower at Stanford University

Stanford University today (Dec. 1) disclosed that a previously revealed breach of confidential information on a computer server at its Graduate School of Business is much wider than earlier reported. Campus privacy investigators found that a shared platform at the GSB potentially exposed the personal information of nearly 10,000 non-teaching staff at the university.

Stanford said an investigation of what it is calling an “exposure” on a GSB server contained the names, birthdates, Social Security numbers and salary information for nearly 10,000 non-teaching university employees – a snapshot taken in August 2008. The file apparently was made accessible to human resources stafff at the business school for annual salary setting. The file was exposed to the GSB community for six months before it was locked and secured last March 3.

This latest admission comes after Poets&Quants revealed that a computer breach at the business school had allowed at least one MBA student to gain access to confidential financial aid information for MBA students (see Stanford GSB Misled Applicants On Financial Aid). The breach exposed 14 terabytes of highly confidential student data detailing the most recent 5,120 financial aid applications from 2,288 students, spanning a seven-year period from 2008-2009 to 2015-2016.

STANFORD GSB’S TECH TEAM FAILED TO REPORT THE BREACH TO DEAN LEVIN

The university said these files were accidentally made available on a shared server starting in June of 2016. Other files on the same server were accessible starting in September 2016. All files were secured by early March, according to the university.

The university also disclosed today that the business school’s IT (Information Technology) team became aware of the breach of MBA financial aid information in February of 2017 but failed to report the problem to Stanford GSB Dean Jon Levin.

“At that time, the GSB IT team recognized there was a permission problem and promptly secured all of the files on the drive,” according to university spokesperson Lisa Lapin. “But they failed to understand the scope of the exposure and did not report it to the GSB dean or relevant university offices for further investigation.”

IT TOOK EIGHT MONTHS BEFORE DEAN LEVIN KNEW OF THE BREACH–FROM THE STUDENT WHO FOUND IT

The university statement did not acknowledge that its IT team only learned about the breach because the student who found the data, a first-year MBA student named Adam Allcock, had reported the problem on Feb. 23 to Jack Edwards, director of financial aid at the business school. Otherwise, the school may not have known about the exposure.

It apparently took another eight months before Dean Levin became aware of the breach. That was when Allcock says he sent him an in-depth report on the school’s financial aid practices which found that the school’s claims of granting scholarship support only on a needs-based formula was untrue.

Allcock found that Stanford had routinely granted fellowship money to students without regard to their financial needs, often favoring admits who were female and those from the financial sector, even though many had more savings than students who received no scholarship help or less financial support. His analysis also found what he termed “systemic biases against international students…This is inconsistent with a need-based financial aid system,” he wrote in the report.

DEAN CONCEDES STANFORD HAS BEEN GRANTING MERIT SCHOLARSHIPS DESPITE CLAIMS TO THE CONTRARY

It wasn’t until Nov. 17 that Levin publicly conceded that the school had failed to come clean on how it distributes financial awards to students and acknowledged the breach of confidential student data. In a statement to the GSB community issued at 6:39 p.m. on a Friday, Nov. 17, GSB Dean Jon Levin said the data has been “improperly stored in a shared folder that was accessible to all GSB faculty, staff and students. The records were anonymized and did not include names; however, they included income and asset information, and information on prior employment.”

Though the school has long insisted that it does not grant fellowship awards on the basis of merit, Dean Levin wrote that the school “has offered additional fellowship awards to candidates whose biographies make them particularly compelling and competitive in trying to attract a diverse class.”

He promised that the school would be “significantly more transparent about the principles and objectives being applied in making financial aid awards, and about how different awards are made. We are committed to working on this for the current admissions cycle.”

STANFORD ALSO DISCLOSED EXPOSURE OF SEXUAL ASSAULT DATA

Today’s statement by the university also noted that yet another file-sharing platform, widely used throughout the university, exposed a variety of information from several campus offices, including Clery Act reports of sexual violence and some confidential student disciplinary information from six to 10 years ago.

Stanford said its Information Security and University Privacy offices have been investigating the data breakdown and are continuing to review file-sharing platforms campus-wide to assure appropriate access permissions are in place.

“The university does not have any direct evidence that personally identifiable information was accessed from the GSB file,” adds Lapin, a university spokesperson, in the statement. “But as a precaution, beginning today, notification letters are being sent to all impacted employees and students who may have had personally identifiable information exposed.

“We extend the deepest apology to the employees and former Stanford students who expected that their personal information would be treated with the greatest care by campus offices,” said Randy Livingston, vice president for business affairs, in a statement. “This is absolutely unacceptable. Our community expects that we will keep their personal information confidential and secure, and we have failed to do so. The proliferation of file-sharing platforms requires that everyone be vigilant in assuring that confidential information remains secure, old files are deleted and permissions are regularly reviewed.”

DON’T MISS: STANFORD MISLED MBAS ON FINANCIAL AID

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MBA Quiz: Guess the foreign bank from its tagline - Jagran Josh

In this MBA quiz we have brought for you a list of taglines belonging to foreign banks. Guess the name of the bank to enhance your business IQ.



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