By the Numbers: The World’s Most Valuable MBA
There are many different ways to define “lucrative”—so when trying to find the world’s most valuable MBA degree, there are a few different metrics you can use to draw a conclusion. Lucky for us, the new Financial Times global MBA ranking manages to list the world’s top MBA programs in (almost) every way imaginable, including highest weighted salary, salary increase, and value for money. Sounds lucrative to me! Continue reading…
Friday News Roundup – Northwestern Introduces New Classes, and More
Let’s take a look at some of the biggest stories from this week, including new Northwestern classes for its MBA program.
NYU Stern Faculty to Share Expertise on Artificial Intelligence – NYU Stern News and Events
NYU Stern School of Business has announced that select faculty members will be available for speaking engagements, panel discussions or other knowledge sharing on the state of one of tech and business’ greatest forces: artificial intelligence.
According to a recent announcement, leaders in their various fields will be available for comment in articles, or for speaking engagements and discussions on AIs present and future. Information Systems Professor Vasant Dhar, an expert on machine learning in finance, has explored the question of how reliable AI is in the handling of personal finances, as well as AI in big data, healthcare, and education.
Professor of Economics Nicholas Economides, which seems a little too on the nose for an economic’s professors name, is available to share his knowledge on the inequality that tech culture can perpetuate, particularly in California’s IT sector. His research focuses upon how public policy accommodates changes in technology, and how the ebbs and flows of the tech sector affect workers disproportionately to owners and shareholders.
Other topics on which faculty members will contribute their expertise are the ethical concerns behind the use of AI; the possibilities behind AI and crowdsourcing; the legacies of certain innovators throughout history, and a look at how workforce policy has addressed the shifts of the sharing economy.
For more on potential faculty engagements on the topic, read here.
UC Davis Graduate School of Management Professor Weighs in on Stock Buybacks – Yahoo! Finance
University of California, Davis Graduate School of Management professor Paul Griffin recently weighed in on corporate stock buybacks for Yahoo Finance.
A recent op-ed piece for the New York Times by Senator Chuck Schumer and Bernie Sanders criticized the practice for its marginalization of citizen stock traders in favor of corporations by increasing the value of shareholders’ stock options. In certain situations, however, buybacks have an unfavorable effect on stock prices.
Historically, during buybacks for large corporations such as Xerox and General Electric, stock devaluation has been the unfortunate end result. UC Davis’ Griffin notes, “The initial response generally positive, [shares] get a little bump in price. Then people start thinking more about what’s going on here, how a firm is performing on an economic basis rather than managed number basis.”
Few company’s damaged itself through stock buybacks more than General Electric, which bought $40 billion of its own stock (15 percent of its entire market) share. In 2016, the company’s individual stock price was valued above $30, but now consistently is sold between $7-10 per share.
Among the other companies that have landed in Yahoo! Finance‘s “Hall of Shame” are Viacom, GM, IBM, General Electric, and Sears.
Read here for more on corporate stock buybacks.
New Courses at Kellogg Will Focus on Shifts in Global Business – Northwestern Kellogg News & Events
Northwestern University’s Kellogg School of Management has announced 12 new courses that will explore the evolution of global business trends.
“To address the ever-evolving professional development needs of our students, it is a top priority to continually innovate our MBA curriculum … We’ve incorporated a mix of experiential learning, diverse intellectual perspectives and emerging business topics in our latest course offerings.” says Michael Mazzeo, Senior Associate Dean of Curriculum and Teaching.
Among the new course offerings are Blockchain Technology, Digital Assets and the Future of Finance, Corporate Entrepreneurship: Organization Design for Disruption, Leadership Ethics and Empathy, and The Right Stuff: Principles Behind Successful Careers.
Kellogg’s Curriculum Committee, which is comprised of seven faculty members from each of the school’s department, reviewed and approved the new courses via a detailed process that ensures the relevance and breadth of the coursework. To learn more about the new courses, read here.
Habitat for Humanity CEO Speaks at Fox on the Challenges of Non-Profit Fundraising – Fox School of Business News
Temple University’s Fox School of Business‘ Board of Fellows recently gave a presentation on issues pertaining to non-profit fundraising for an audience of MBA students.
Featured guest speaker Christine O’Connell, CEO of Habitat for Humanity, presented the challenges inherent in raising money for non-profit entities learned from her over twenty years of experience. “There is never enough money,” O’Connell says, “and there is entirely too much need. To put that need into context, 800 people call us a month. We are [only] building twelve houses a year and repairing 100.”
O’Connell focused upon the importance of maintaining strong relationships with donors, and of treating each donor with equal respect. Six figure donations, she believes, should be received with the same level of gratitude as smaller amounts. ““You gotta make a connection with people,” O’Connell says, “… You gotta create empathy, and you have to have people feel and know that they are empowered and that their gift counts.”
“[O’Connell] presents Habitat in such a way where she hones it down and says this is how you can help, by supporting this organization and talking about the breadth and depth of what they do, not just that they do it,” said Ellen Marshall, an advisor for Fox Management Consulting and Strategic Clarity Advisors and longtime fundraiser for non-profits.
Read more on O’Connell’s talk here.
Credit Card Company for Emerging Markets Wins Sloan’s Startup Competition – MIT Sloan News
A credit card company for emerging markets won this year’s “MIT Sloan Accelerate 100K Entrepreneurship Competition.”
The company, Duo, is aiming to help the millions of small and mid-sized Latin American businesses that lack credit. In Mexico, businesses that are less than two years old are not granted credit, which lands many of them in massive amounts of debt.
Duo co-founder Hugo Lopez-Velarde, (MBA ’20), winner of this year’s “MIT Sloan Accelerate 100K Entrepreneurship Competition.”
Duo co-founder Hugo Lopez-Velarde, (MBA ’20) says, “In Mexico, corporate cards are uncommon—often, business owners use personal cards and take on credit on behalf of their businesses … This is the first step for next-generation financial products for companies in Mexico.”
Duo users will not only be free of personal debt, but they will also establish credit history. Duo’s card also boasts an analytics dashboard that will allow business owners to manage spending.
Runners-up focused upon emerging technologies in healthcare. The startup Encora created a therapeutic wearable wristband that alleviates hand tremors in neurodegenerative patients. Hikma Health designed customized data systems for healthcare providers who are treating the Syrian refugee population.
Accelerate 100K’s winner and runners up were chosen based upon audience votes, and will advance to Sloan’s Launch competition this spring. Read more about Accelerate’s winners and about Launch here.
Impulses, a Culinary EMBA, and Immigration Figures – Boston News
Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
How God Influences Your Grocery Bill – Questrom School of Business Blog
BU Questrom Professor of Marketing Didem Kurt recently co-authored new research with the University of Pittsburgh’s J. Jeffrey Inman and Harvard’s Francesca Gino that explored links between “grocery sales data and rates of religious adherence in thousands of counties across the country.”
According to the study, “religion and religious messages were linked to lower spending.”
People who were reminded of God’s presence were less likely than another control group to spend money on “impulse purchases such as magazines and gum,” an effect that the researchers note “persisted whether or not an individual described themselves as religious.”
Kurt explains, “We attribute this result to the notion that thinking about God reminds people of commonly shared values—such as frugality—even if they don’t believe in God. Managers may want to consider proximity to houses of worship when choosing a retail location. They need to be cognizant of the effect of religious cues and reminders on consumer spending.”
You can read the full article here and check out the complete paper on Science Direct.
A Full-Course Meal – Sawyer Business School Blog
The Sawyer Business School Blog recently profiled David Lanci, EMBA ’02, who after many years as a chef, shifted into the food services industry and founded NexDine, which offers “catering and dining services to corporations, schools, colleges, and senior living facilities around the country.”
Lanci told the Sawyer blog that his Suffolk EMBA “gave [him] the confidence to go out and start this company. One thing I really learned from my EMBA is to take a holistic view of everything and never have a singular view. It’s not just about what’s on the plate.”
NexDine founder David Lanci, EMBA ’02
Lanci continues:
“I realized that how you communicate with the people in the group has a dramatic impact on the outcome. I realized it wasn’t just out of sheer will you could get something done. You had to collaborate, and that was the aha moment for me.”
He concludes, “Food is almost the easy part. It’s just as challenging—if not more so—to manage people, manage clients, manage budgets. And in our industry, we’re not making widgets. We can’t do everything the same way for every client. Every location is different. People’s appetites are different.”
You can read the full interview with Lanci here.
Undocumented Immigrant Population Roughly Double Current Estimate – MIT Sloan Newsroom
According to new research from MIT Sloan’s Mohammad Fazel-Zarandi and Yale’s Edward Kaplan and Jonathan Feinstein, “the number of undocumented immigrants living in the country is about 22.1 million, nearly twice the most prominent current estimate of 11.3 million.”
Fazel-Zarandi explains, “It’s likely that undocumented immigrants are more difficult to locate and survey than other foreign-born residents and if contacted, they may be inclined to misreport their country of origin, citizenship, and number of household residents, fearing the legal consequences of revealing their status.”
He continues:
“A common argument in favor of a tougher immigration policy is that people who have entered the country illegally elevate levels of violent criminal activity.”
“Whatever the extent of criminality that is assessed, it’s clear that crime statistics be thought of in relation to a substantially larger population of undocumented immigrants. This lessens the risk in per capita terms. What’s acceptable for a population of 11 million is unlikely to be sufficient for a population of 22 million.”
You can read the full article here.
MIT Sloan Introduces New “Blockchain and Money” Class
A decade ago, only a few people knew what blockchain was. Now, blockchain is a practical part of the financial sector with tremendous potential for transformation. That’s why this fall, MIT’s Gary Gensler, a Senior Lecturer and Senior Advisor with the MIT Media Lab, will teach a new course entitled “Blockchain and Money.”
The new course at MIT Sloan will show students how to use blockchain technology, covering fundamentals such as distributed ledgers and smart contacts. In addition, the course will offer real-world examples that cover global issues including regulatory concerns.
“This technology has real potential as a catalyst for change in the world of finance and the broader economy,” Gensler said in a recent MIT news story. “I view the course as one piece of the broader ecosystem at MIT where people can explore blockchain technology and its real-life possibilities.”
About the Blockchain and Money Course
The 12-week “Blockchain and Money” course will be valuable not only for entrepreneurs interested in initial coin offerings, but also for students who are just curious about the intricacies of blockchain. The course will be broken down into two parts:
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Part One: The Foundation of Blockchain
The first part of the course will offer an in-depth look at the history of bitcoin and other cryptocurrencies. Then, Gensler will dive into smart contracts in open-sourced and private applications alongside distributed ledgers, which he feels are critical pieces of blockchain technology. The class will also examine numerous policy issues arising from this technology.
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Part Two: Practical Applications in the Financial Sector
The second part of the course will focus on real-world application of theory. Gensler calls it a “real how-to course.” Mainly, students will focus on blockchain applications in the financial industry. The goal is to get them to think creatively about blockchain application and devise their own original blockchain opportunities.
The finishing touches of the syllabus are still being put together, but Gensler has already secured a few exceptional guest speakers to come in and talk, including crypto expert Christian Catalini and Jeff Sprecher, CEO of Intercontinental Exchange and Chairman of the New York Stock Exchange.
This article has been edited and republished with permissions from our sister site, Clear Admit.
Improv, Luxuries, and Napoleon: Check out These 10 Unique MBA Courses
Business can often be unfairly characterized as a dry field. But not every business school course fits the stereotype. Check out these 10 unique and interesting MBA electives.
Napoleon’s Glance
Columbia Business School offers this fascinating course in strategic intuition. The curriculum uses the teachings of early strategy literature as its foundation, though the bulk of readings and lectures are based on the content of two contemporary books on the subject: Napoleon’s Glance and The Art of What Works. William Duggan, the author of both books, leads the course. Duggan is a strategy expert and won the Dean’s Award for Teaching Excellence in 2014.
Food and Agribusiness
This Harvard Business School course allows MBA’s to delve into the study of the global food industry. This course is helpful for B-schoolers specifically seeking a career in agriculture, or simply those pursuing consulting or investment banking, since the food industry is so expansive. The course explores the nuances of agribusiness, including how the once strictly local industry has become increasingly globalized.
Luxury Marketing
Another eyebrow-raising Harvard Business School course, Luxury Marketing helps students understand the nuances of luxury brand management. Specifically, the class will be structured in terms of three larger topics: The art of creating luxury brand equity, understanding the luxury sector, and the future of luxury. The course has seen lecturers like world-famous fashion blogger Chiara Ferragni.
HBS doesn’t just offer traditional MBA courses. Students interested in the finer things can also study Luxury Marketing.
Improvisational Leadership: In the Moment Leadership Skills
Improv as a means of facilitating team building and creative thinking is a growing trend in business. That’s why MIT’s Sloan School of Management offers an entire course on improv in business. The first two weeks essentially function like an Improv 101 course, with students learning the fundamental principles of improvisational performance. The subsequent four weeks focus on application, allowing students to practice applying improv principles to real-world business decisions.
Sure, it’s not Second City, so don’t expect students to make a Comedy Bang! Bang! appearance any time soon, but the course can help one develop skills not actively taught at most other business schools.
Leveraging Neuroscience for Business Impact
At University of Pennsylvania’s Wharton School, the faculty understands the value of understanding the human brain in honing business acumen. This course demonstrates just that, as it educates MBA’s in the most recent neuroscience breakthroughs and how this information can be used to predict consumer behavior, manage employees, build teams, and enhance workplace productivity, as well as honing leadership skills.
Next Gen Fashion Retail
Though clothing fads aren’t the first thing people usually associate with MBA education, fashion is its own industry, and a cutthroat one at that. As part of its Luxury and Fashion MBA, New York University’s Stern School of Business offers a course on the future of fashion retail. In this course, students learn about the ever changing fashion landscape and the challenges that lie ahead as the internet cuts out the middleman between brand and customer.
Creativity
Though analytical thinking is important for many aspects of business, creativity is the driving force behind most innovation and problem-solving. NYU Stern’s Creativity class nurtures students’ potential for true out-of-the-box thinking in both work and life. MBA’s learn about the science of creativity and experiment with different creative approaches to problems.
Nobel Thinking
In the Nobel Thinking course at London Business School, students use actual Nobel Prize-winning topics to explore what makes a groundbreaking idea and how to emulate the type of thinking that leads to real breakthroughs. Each session chooses a topic, led by a faculty member, and explores the idea, motivations, and contributions that led to the Nobel award. The elective makes full use of LBS’s notable faculty as well as a number of guest lecturers.
The Nobel Thinking course at LBS utilizes the school’s vast array of celebrated guest lecturers.
Self Awareness
London Business School also offers a Self Awareness course that helps B-schoolers learn about themselves, and their own needs and motivations. Though studying self awareness may seem more like therapy than school, more and more MBA programs are emphasizing the value of authenticity in business. Relationships are essential in business, and the Self Awareness elective trains students to understand how they are perceived by others, so they can build connections and trust as they navigate their industry.
Cleantech to Market
At UC Berkeley’s Haas School of Business, MBA’s who take the Cleantech to Market course get to team up with scientists from the Lawrence Berkeley National Laboratory to work on marketing advances in in solar, biofuel, battery, and smart grid/energy management tech. Business students help scientists commercialize the latest advances in sustainability.
The UC Berkeley Haas School of Business Cleantech to Market bridges the talent’s of the schools MBA candidates and scientists from the Lawrence Berkeley National Laboratory.
How To Create Your Own Internship, and More – Boston News
Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
How to Land an Internship That Doesn’t Exist Yet – D’Amore-McKim Blog
The D’Amore-McKim School of Business at Northeastern University recently published an account of how Matheus Dos Santos, DMSB ’19 created his own internship at Brazilian bank branch Banco Bradesco.
Dos Santos, a Brazilian native, sought out an internship at Banco Bradesco as an opportunity to “learn more about the industry” while he spent his summer back home in between his first and second years at D’Amore-McKim.
Dos Santos reports, “When I was talking to them about a summer job, they didn’t have any process in place. They weren’t sure at first how to hire me formally, and since I’ve started, all sorts of people have come up to me to say that I’m the first one the bank has hired for this kind of position.”
AP Photo via Victor R. Caivano
Dos Santos helped Banco Bradesco “develop an online trading platform to reach millennials.” Edilson Fontenele, head of customer experience at Bradesco and Dos Santos’ supervisor, writes that Dos Santos’ appeal was his unique perspective as a “millennial who knows the Brazilian environment and also had exposure to international markets.”
You can read the full article here.
The Big Leap – Sawyer Business Blog
Sawyer Business School student Jennifer Wiens writes candidly about the precise moment she decided to transform her life and career. After being laid off from her job at a Seattle biotech company, Wiens chose to move cross-country to Boston in part to “go where the jobs were” but also because she thought Sawyer “could help me capture that sense of control in my career.”
Wiens simultaneously began her Sawyer EMBA and a stint as Charles River Labs’ global product manager where she coordinated “multiple teams and meeting with clients all around the world.” She writes about how the two fed into each other.
“Because of my Suffolk experience, I don’t feel like I’m out of my element. I’m explaining business concepts to people who’ve been in business for 20 years. I’m teaching them current approaches to certain things.”
Then Wiens pulled another 180 by leaving the Charles Rivers Lab gig. As part of her EMBA capstone course, she created a business strategy and marketing plan for Advanced Dental Sleep Medicine, which offers “alternative, non-surgical ways to reduce sleep apnea.” According to the article, both of which worked so well that the “owner convinced her to leave Charles River Labs and come work for him [as] full-time employee number three.”
Wiens writes, “The company’s gotten a lot of good buzz, so the business is poised to explode and franchise out. And that’s where I come in.”
You can check out the full article here.
3 Steps Toward Safer and Sounder Software – MIT Sloan Newsroom
Deutsche Bank CIO and head of safety and soundness Frédéric Véron recently gave a talk at the MIT Sloan CIO Symposium, where he shared 3 pieces of wisdom for making software “safe and sound.”
Véron said “safe and sound” software is about a “mix of hyper-awareness, good planning and foresight, and learning quickly from mistakes.”
According to the article, “hyper-awareness” involves knowing “how all your software is actually being used day-to-day, ensuring all stakeholders in development understand the full scope of the product, and continuously taking baseline metrics to understand what can be considered normal operating conditions for a system.”
Good planning and foresight entails that “all of the different procedures that will be necessary to maintain the system in production mode need to be thought through ahead of time. You can always bolt it all on later, but it will cost you more money and it won’t be native or work as well.”
Véron advocates “failing and adapting fast” by adopting agile and DevOps. “The whole point of agile is about adopting the philosophy where you break down major efforts into smaller efforts, allowing you to do incremental releases so that you can make a small change, and if it isn’t working you can pull it out of production quickly without impacting the whole thing.”
He elaborated, “Safety and soundness is about ‘How do we make the enterprise safer and more sound, right from the get-go?’ Not just when things happen, but before things happen.”
The full article can be found here.
