What Is Your 2018 MBA Resolution?
For those who aren’t in a post-New Years Eve hibernation, 2018 is here, and that means actually following through on all those promises you hastily made an hour before the year officially began—including your 2018 MBA resolution.
You and every other person in a five mile radius will pack your preferred gym for the next few weeks, dutifully following through on the promises they made themselves. And while the frustration of waiting, waiting, and still waiting for the bench press to open up is inevitably going to sit in, you still have an opportunity to utilize that newfound resolution energy into your MBA degree.
Start of this new year by forming productive habits, achievable goals, and a vision of where you want to end up! #MondayMotivation pic.twitter.com/igYQmNtI3C
— FOX MBA & MS (@FoxMBA) January 2, 2018
But, where do you start?
2018 MBA Resolution Baby Steps
Ordering a multi-thousand dollar exercise bike at the stroke of midnight might have been a more curious impulse, but there are plenty of non-expensive efforts you can make going into a brand new year.
The MIT Sloan School of Management revealed some of its favorite books from the previous year from its distinguished faculty and alumni, including the timely “The Power of Little Ideas: A Low Risk, High Reward Approach to Innovation,” by senior lecturer David Robertson. Which, in itself, can provide a powerful set of ideas to harness that newfound resolution energy.
Looking to up your tech-savvy skillset? Head over to Product Hunt, which provides an impossibly lengthy list of new apps and tools from startup companies that can do almost everything: from learning valuable developer tools to reforming your daily task routine.
Be Wary of Impossible Goals
According to Chicago Booth behavioral science experts, people don’t tend to follow through on grander resolutions.
“‘The problem with big resolutions is that motivation tends to wane over time,’ says Chicago Booth’s Ayelet Fishbach, who studies motivation and decision making. People start out strong, but then reality sets in as they realize it’s easier to set goals than to carry them out. ‘The problem with persisting is that our priorities change in the course of a day, a week, a year,’ says Fishbach. We may wake up in the morning determined to watch what we eat, but by the afternoon, we’re distracted—and start snacking again. Or we may feel determined to invest more time in relationships, but that slips our mind when an important work deadline looms. ‘Successful goal pursuit,’ she says, ‘requires employing strategies that keep us on track as our priorities momentarily shift away.'”
An important part of Fishbach’s research revealed that setting more frequently occurring goals is important to stay on track. This means, “Instead of an annual goal, set a monthly goal. Instead of weekly, make it daily.” When more smaller, reasonable projects are completed, the end goal is more probable. And the more probable a goal is, the greater the motivation, according to Booth marketing professor Oleg Urminsky.
“Proximity to the goal increases motivation. If you’re a rat in a maze, you run faster the closer you get to the end.”
Embrace The Eventual Setback
Anyone who has gone through a diet is more than likely familiar with the concept of a cheat day. While scouring cake one week into your shiny new diet may feel like a small failure, it doesn’t mean it’s time to give up.
According to marketing researchers Marissa A. Sharif and Suzanne B. Shu, authors of the 2017 study “The Benefits of Emergency Reserves: Greater Preference and Persistence for Goals That Have Slack with a Cost” in the Journal of Marketing Research, having a few “mulligan” occurrences is normal and should not deter your overall aim.
“What this suggests is that the perfect goal to set for yourself is probably a tough one but with the explicit allowance for a mulligan or two so you won’t be discouraged by the occasional slip up,” writes Washington Post reporter Katherine L. Milkman.
It’s Time To Go After That MBA
We at MetroMBA may be vocal advocates of an MBA, but numbers speak for themselves. MBA salaries at the top schools in the world hit a record high last year, according to the Financial Times, sitting at an eye-popping $142,000 USD average by the start of 2017—a $7,000 jump from the previous year.
Some of the world’s biggest companies, such as Amazon, are on MBA “hiring sprees” as it rapidly expands its business, indicating the increasingly high demand for graduates.
And if all else fails, just embrace it!
I don’t like New Year’s Resolutions. At all. In fact, I vow to get fatter, more deceitful, spend more frivolously, and enter more toxic relationships. These are my New Year’s Regressions.
— ShinigamE (@WWEBigE) January 1, 2018
Booth Research Shows What Really Shapes Desire
A recent study from Ayelet Fishbach, Professor of Behavioral Science and Marketing at the Booth School of Business, and co-author Xianchi Dai of Chinese University of Hong Kong. Titled “How Non-Consumption Shapes Desire”, has found if a person is aware of a substitute for something, the longer they have gone without, the weaker their desire for the non-consumed good becomes. Continue reading…
Booth Research: Early Warnings About Goal Completion Found to Be a Buzzkill
New research from the University of Chicago Booth School of Business finds that the positive reaction one would have when succeeding is lessened if it doesn’t follow the expected course. Ayelet Fishbach, a professor of behavioral science and marketing, and Nadav Klein, a doctoral student, published their paper “Feeling Good at the Right Time: Why People Value Predictability in Goal Attainment.” Their research found that when people learned that they had achieved something before their predetermined time, the experience was muted twice — when they learned early, and then when the goal was achieved. Continue reading…
