Specialization of an MBA - A big question mark!

A week ago I attended the career fair at my school. I had the opportunity to meet over 50 companies in a span of 4 days and network with them all under one roof. However, I was repeatedly asked 1 question by the recruiters that made me think deep and hard about the mechanics of an MBA. That question was:

Which industry/function did I specialize in before the MBA?

Before going further, I would like to acknowledge that what follows are my views and opinions alone and if someone doesn't agree with them, its not meant to offend their view of the business world. If someone thinks too differently from my thought process, I welcome you to comment on the blog as long as you do so without disrespecting me or any other readers.

Now to get back to the topic, to me the question sounds counter-intuitive. When I started the MBA over 10 months ago at the IE Business School, my view of the same was that this is a platform that will allow me to develop my professional skills irrespective of which industry I wanted to work for. In a setting of 60 students, with classmates from over 30 different nationalities, with the world-class business school facility and the diversity of courses ranging from the analytical reasoning of Quantitative methods to research based approach of Finance to the creative enhancements of Marketing, I believed that MBA was truly worth the hype. But this view was shattered by this one simple question: What is my specialization?

I thought that MBA was a choice. I thought it was a choice about where do I wish to go from here. But instead everyone was interested in where I came from. They wanted to know not what this would be MBA graduate had learned in the last 1 year but rather what he had been doing in has past life. In an instant I was pigeonholed and not by what I wished to do, not even by what skills I had, and not even by what I had learnt but rather by what I had left over an year ago. But if this is what these firms were looking for then why hire an MBA? Why don't the banks just hire Financial experts and the operations firm hire engineers and the FMCGs hire the creative advertisers? Why would a firm spend so much money and time to go hire someone they had absolutely no need for?

I also thought that MBA was a journey where a student could identify his/her true potential. Where I would be able to discover where my abilities lied. Where I would be given the opportunity to break free from the industrial barriers and get a window into the wide and ever expanding world that is waiting for us out there. And that once I had identified the right window, I would find the door too. But if all the doors are locked except the one I stepped in from, then what really is the difference? If one just has to go back the same way they came from then why come at all?

But apparently this is what the companies were looking for. They wanted not someone who could bring a new range of skills to the table but rather an old seasoned player with the fresh shining MBA trophy in his showcase. I ask them, if MBAs can learn a 1000 different things in less than a year can't they learn an extra 10 if you give em a chance? If a girl from finance background can develop a beautiful marketing road-map for a fortune 500 FMCG in an academic setting with little external help, can't she build one in real life with the support of 10 other experts around him? If a guy from operations can handle the strategic proceedings of a 100 billion dollar company in front of his professors, can he not do this for a 10 billion dollar company in front of his colleagues?

And if the answer really is no, then what really is the advantage of investing tens of thousands of dollars in a course like an MBA? Why can't one just do a more specialized masters in finance or a PhD in operations and develop the only skills the companies are looking for? But if the answer is yes, then wouldn't it be fair to treat an MBA grad with an investment banking background equivalent to another who was running his own small business? I agree that they need to exemplify certain skills and qualities and knowledge to do well but how do the firms know whether the candidate has this based on a simple question like: Which industry/function did you specialize in before the MBA?

The Hardest Part Is Done?

As the summer time loomed in the air and everyone started relaxing a bit, a mass of 400+ students entered the IE Business School in the heart of Madrid, all set to take up the challenges of their last core term. Till date, they had struggled, battled against the tireless exams and the numerous projects and the endless presentations, but now there was a sign of hope for everyone at the MBA would tell them The Hardest Part Is Done!

Yes, indeed the hardest part was done but only as long as they looked back upon their life. Lay ahead the battlegrounds that would churn them over and over again until they either evolved into the leaders of tomorrow or cowed away back into the darkness of their past. Mark these words, all the future students of IE, no the hardest part doesn't end with the Strategy and the Marketing and the Finance and all those spearheads of corporate success. A course like this doesn't let you off the hook anytime so soon. And if you are off then you're definitely on the wrong track. No, the hardest part is never done!

The only thing that was done as the summer breeze started swiping the leaves on the street of Madrid, was that the stage had been set for all these bright young scholars to start proving their mettle in the real world. As some of us went back into the corporate world for a brief stint, rest of us piled on and pursued our MBA legacy, preparing even more for the final showdown.

As days went by, some people began to see the light, which was the summer break. But this hope was quickly shadowed by the mountains of workload that lay ahead. So much so that even when the bright skies called for a chilled out weekend, herds of us were piling into the labs and our laptops just working the nights away. All for but one hope - the hardest part would soon be done!

And even as these tireless 400, finally crawled out of the tunnel into the light, ahead lay many battles to be fought. For some it was the pursuit of a fitting career while for some it was the conversion of their business ideas into reality. While some others worked to expand their existing family ventures, others were simply in search of a better tomorrow for themselves, their families and the whole humanity.

So cheer up my friends for yes, the hardest part is now surely done! But lays ahead the spoils of a new war, acquiring which is not gonna be easy. Whether you be an Italian, Japanese, American, Indian or French... everyone has a right to his share of the bounty. But beware for yes, the Hardest Part Is Never Done but the hope is always alive!!!

IE & Consulting - Match made in heaven

Among the hustle bustle of the B-school life, silence is a rare trait. With students competing for the limited air time in every class its extremely difficult to have them listen instead. But this is exactly what was achieved by the 3 of the biggest consulting firms of our era at the recently concluded IE Consulting Day. Organized by the IE Consulting Club, the event brought together consultants from Accenture, Booz & Co and Capgemini for an evening of presentations, discussions and networking. With the increased focus of IE students on consulting as a future career option, this event helped them gain a much deeper understanding of what the industry has to offer and how some of the big firms operate their business. At the same time it also introduced some of the higher up reps in these companies get a taste of the strong consulting talent that has been developing in the shadows of one of the top 10 b-schools in the world.

For a long time IE has been a popular choice for junior consultants in order to receive their MBA and progress further along their career path in their respective companies. The consulting club through the help of these students and its imminent faculty has conducted in the past half year several events to hone the consultants within the new students. The consulting day was a way for the IE consulting community to show-off what they had achieved and for the companies to entice them even further by giving them a glimpse of life as a consultant.

But why is it that consulting is becoming such a popular choice among IE students? IE Business School has long been known for fostering entrepreneurial spirit in its alumni. But just because you have the vision and motivation doesn't ensure your success. There are several facets of business in real life that cannot be simulated in a class room learning course and this is where a career in consulting steps in. Not only does a career in consulting provide one with valuable contacts, it also helps gain a much deeper understanding of any industry that you wish to associate with. A combination of the entrepreneurial abilities developed by IE and the experience provided by the consulting is something and student would hold in high regards and gives him/her the right recipe for success.

And if you're still unsure whether consulting is the right fit for you... come and talk to us. For we are the consulting club and we want you!

Circle of life

The business plans done, the pitch delivered and now on from the world of entrepreneurship into the corporate endeavors as people start scrambling for last minute internship deals and exchange opportunities slipping by in a hurry. Yes, we're back to the time of the year when a huge wave of MBA students hits the job market hard in an attempt to drive down the world unemployment rate!

But why are some people cutting corners or even throats to secure an internship while many others have this not even as the last thoughts on their mind? Is it that some people are too lazy or indifferent to make an effort? I believe there is more to it than just a question of willingness. In the words of Prof. Carmen Alonso Munoyerro "Life is more complex than just an excel function".

So, what is life of an MBA student and why do 100 people react in 200 different ways when presented with the same situation? As any manager would tell you IT ALL DEPENDS! It depends on what one expects from the school, whether one wishes to make best of a given opportunity, or if someone wants to explore different things at the same time or may be someone is just looking to enjoy a well-deserved year off from their otherwise hectic life as a consultant in one of the top 5 firms.

And then there are the prospective students who always ask me whether it is a good idea to go for an internship or if the career center is effective? There are no easy answers. Again, it depends on what you want out of an internship or how you want to use the services provided by your school. Good and bad are no longer absolute terms. Their nature and even interpretation differs from person to person. So, if you are considering an internship, ask yourself: what do you want out of the internship experience? Is it the exposure? Is it the network? Or may be its simply the extra cash? All are valid reasons but which one do you think you value the most and is it worth the lost opportunity cost.

So current students and future MBAs, before you make a big life decision you better think it through. MBA is no longer a means to an end. And surely its not an investment if you don't even know if the returns will have any value for you. And sure there will be some uncertainty but the key is to be prepared and "know thy self".

Thank You

To be or not to be -- An MBA?

Ceiling high bonfires, loud chants and noises and the smell of smoke and spirit in the air! No, this isn't the scene of another protest. This is typical of the weekend party following the end of first term at IE.

Less than 3 months into the program, everyone was forced to face, what has come to be known as, the dreaded CURVE! The only thing people could talk about for the last 2 weeks was decision trees and bonds and maslow hierarchy and what not. From the basic Debit-Credit theory to the most complicated forms of Markov chains, people stepped and stumbled at all different points in between. And with just a weekend of sigh and relief before everyone dives head first into Term 2, this gives me a perfect opportunity to recap.

So, what've we learnt so far? We now know how some of the biggest accounting scandals took place in the last decade. From the enron's and worldcom's of the world we have but one lesson to learn - Know thy balance sheet! And the best way to test the ethical and moral standards of your actions - The Phone Test i.e. how would your friends and family react when you give them the news about your proceedings. While it may be difficult for some to comprehend, but if one's true to themselves, at the least, this test should give a fair bit of warning when you take your business and accounting decisions.

While most accounting scandals take place because someone in the management didn't have the right ethical outlook, most strategic blunders take place when people are ill-informed. We have seen how some of the most thought after strategies have that innate flaw in them that somehow people miss out on. Look at the new Coke of the '80s or the Nike ERP failure of 2000. And though we have seen these failures and learned from them, there is no guarantee that we won't see such disasters in the future. In fact we know that we're bound to see even bigger ones as companies get bigger and start taking more and more expensive projects. While this is the story for every company in the world, this is also the basis on which the consulting industry runs and has become so big. But one needs to remember that consultants have limited information compared to the industry tycoons but they know exactly what to look for.

And finally the mother of all industries. This is an industry that single handedly accounts for almost everything that we know and buy and use in the world. Every firm was once a part of this industry and thousands more become a part of this year after year. This is the reason why IE is amongst the top B-schools in the world. This is the era of Entrepreneurship! While most people would agree that this industry creates more employment in the world than other other still there are not enough governments that are willing to invest in this heavily. This is the only sure shot solution to resolve the world economic crisis yet not many people are willing to take this up. The reason behind this is what people call in Game Theory - Belling the Cat! That's right. Though the industry has much to offer, the owners have much to lose as well. And its not just the failure of the business associated with it but the Economic effect of opportunity cost. Why would one give up a perfectly comfortable 9-5 job and the opportunity to earn hundreds of thousands a year for a career path that offers years of hard-work, sleepless nights, loss of health, loss of family connection and very little chance of ending up in a zero-profit situation?

The answer lies in human psyche. What is the one thing people value more than greed? The one thing that you can't get in any other job? The one thing that will make that loss of money worth it?

FREEDOM!

It's about freedom. Not just for yourself, but also for the whole world. Where would the world be without the Steve Jobs, the Bill Gates, the Einstein's and even the Zuckerberg's? We not only want the entrepreneurs, we need them.

So, I hail to all theses people. Those who gave meaning to our life, progress to our civilization and better future to us and our generations. For to be an entrepreneur is nothing shy of being a rebel and to break the shackles so often that the rule breaking itself becomes a norm!

Gracias, por favor!

The dark knight approaches

One ring to rule them all, one ring to find them
One ring to bring them all and in the darkness bind them!!!

The word has it... Number Eleven possesses the qualities of intuition, patience, honesty, sensitivity, and spirituality, and is idealistic. Others turn to people who are 'Eleven' for teaching and inspiration, and are usually uplifted by the experience.

But for the MBAs at IE, 11 is the number of weeks that are put into classes for Term 1. While intuition is all that people are relying on, patience, honesty and most of all spirituality are taking a serious battering. Having just started to figure out the various course materials, everyone will be facing their personal dark knights in a week's time. What's it gonna be for you... Accounting, Organizational Behavior, IT or the lord of all "Quantitative Analysis"?

As the cold wave engulfs my comrades and I, we scamper desperately to get the last drops out of the dying flames of the coziness' of our groups. Ready to face a new challenge we prepare tirelessly.

No matter what... my friends, always remember! There will be a new dawn! And remember if nothing else we will be MBAs...

The end is near!

1 day is already gone of this new year, the year many believe to be the last. But is this really the end? Even if it is the end should life be any different than what it used to be?

Enough with the philosophy of things. A little more than 24 hours ago, I witnessed a site like none other. Thousands of people huddled together in the then seemingly tiny Puerta del Sol waiting for 3 hours just so that the big clock strikes 12. Considering the amount of singing, dancing, hooting and celebrations going on during the lead up to the new year's, one would think that at the stroke of 12 everyone would burst out. But nothing of the sort happened. For 12 seconds the entire square was more silent than it had possibly ever been in the whole last year.


The reason behind this stunned silence was 1 of a kind superstition. Yeah, that's right - the 12 grape theory. Luckily, I was right in the middle of this sea of people witnessing a more than 100 year old tradition. And the world calls us India superstitious :D

But the sight showed what amazing belief the Spanish have. It sounded silly at first to stand around doing nothing for over 3 hours just to be able to eat a few pieces of fruit but unless you've seen it firsthand and that too at Sol you wouldn't wanna do it yourself.

After two and a half months, when I was started getting the hang of the Spaniards, they came around to surprise me with their strong beliefs. The people of Sol this day truly believe that their desires would come true for they had continued the age old tradition and I have no doubts that they would continue doing so year and year again.

Lets hope that we live to see the Spaniards eat another 12 grapes! Amen