Saturday, November 29, 2008
Week 30: Finance Strategy, Managing IT, Negotiations&Conflict Management, International Business and Strategic Implementation (Module 6 cont.)
Thursday and Friday a large portion of the class headed to Toronto for a couple of days of info sessions the Business Career Center had arranged. These sessions were to help put students in touch with organizations that might be hiring MBAs every year or could not justify a coming to on campus recruiting.
I'm not sure how these events went since I got a call late Wednesday to go to Calgary for an interview with a major Oil & Gas Producer. So, I was off to the races Thursday to get to Calgary for a Friday morning interview. The company took care of all the details via a travel agent and I can submit all additional receipts for food and taxis. I took full advantage of the event and visited a few friends and dropped in on my former place of employment to say "hi". Good to see them all again!
Now I am back in Kingston getting ready for our winter gala! This is our big event the class has planned to celebrate how far we have come. In addition there are people that will be leaving on exchange after the Christmas break that we will not be seeing again since they will be completing their required credits on exchange. Bitter sweet, but it promises to be fun.
Next week we are starting and completing module 7! More on that in next weeks entry.
Saturday, November 22, 2008
Queen's MBA Class of 2008 "preliminary" placement statistics
Percentage of students placed (6 months after graduation) 93%
- In Canada 77%
- Outside Canada 23%
Locations in Canada:
- Vancouver, BC
- Calgary, AB
- Edmonton, AB
- Toronto, ON
- Ottawa, ON
- Waterloo, ON
Locations outside Canada:
- India
- United Arab Emirates
- UK
- USA
Employment by sector, average salary:
- Finance 35%, $78,000
- Management Consulting 20%, $94,500
- High Tech/Telecom 25%, $74,500
- Manufacturing 4%, $80,000
- Bio-Pharm 2%, N/A
- Other 14%, $77,000
Salary Info:
- Average $80,000
- Median $81,000
- Top $122,000
Placement by citizenship (some cases by region of origin and not citizenship):
- Overall 93%
- Canadian 88% (note: this is lower because of a trend for Canadian students to take a period of time to "decompress" after the program prior to looking for work)
- Indian 100%
- Chinese 100%
- African 100%
- European 100%
- South American 100%
Week 29: Finance Strategy, Managing IT, Negotiations&Conflict Management, International Business and Strategic Implementation (Module 6 cont.)
Although most of the courses/classes are finished, here's what's up with the program this week:
MBA 853 Strategic Implementation & Change:
- Completed. Just waiting on final grades for team assignments.
- Final exam was this week. Most people were very relieved when this was finished. This course is now complete.
- Final exam on the afternoon of Monday Nov 24th. Will be our analysis of a case and the write up in the format for all the assignments (ie 250 words, problem statement and 2 recommendations).
- Not much anyone can do to study for this except review the professor's requirements for these "mini-case" write-ups.
- Individual Final Paper due by midnight Wednesday Nov 26th
- 10 pages, 1 inch margins, 1.5 spaced, 11 point font
- Pick a past negotiation, preferably from your work, and analyze it using course concepts
- Individual Final Paper due Wednesday Nov 26th
- 10 pages
- Choose one of two questions to answer
- Q1: A student will choose one (1) country in the world. The country is your choice, and more than one student can do a single country. The student will write a paper that examines how well the country is positioned to withstand and eventually recover from the current global financial crises
- Q2: This course has examined many international organizations to illustrate their capacity to impact business strategy in the international arena. Some of the organizations we have mentioned or examined in some detail include the World Trade Organization, the International Monetary Fund, the United Nations, the International Labour Organization, and others
There were various career talks yesterday on how to start our off-campus job hunt now that on campus recruiting is over. In addition, a large portion of the class is headed to Toronto on Thursday/Friday next week to listen to info sessions by companies that do not make the trip out to Queen's for on campus recruiting. This is something new the Business Career Center is trying out in an effort to place graduates with companies that either can't afford to come to on campus recruiting or do not need MBA graduates every year, but are interested in hiring a few people this year.
It is becoming very apparent that our tight knit community of 75 students is about to be shaken-up. In three weeks the "team-based" portion of the program is coming to an end. After we return from Christmas break several people will be on exchange and other students on international exchange will arrive. There are some people who will not be returning since they will be completing all their course requirements abroad. It is definitely bitter-sweet; good to be at this stage after working so hard, but sad to know our "MBA" community will be breaking apart.
As I mentioned earlier the website for applying to graduate is up. It is weird to be applying to graduate since it still seems like I just started the program. In addition team photos were completed this week and we all need to have our grad photo selection submitted by next Friday. Most students have finalized their electives. Things are just humming along.
The team I am a part of for the John Molson MBA International Case Competition has been getting stuff finalized. An alternate has been selected and we are in the process of finalizing a coach. The organizers need bio's and a team photo by next Friday. We are going to need to practice before Christmas break to be ready for this competition when we return. This is a week long competition with teams competing twice some days. Should be intense!
The MBA soccer team lost out in the semi-final's and the waterpolo team went out with a splash during their final game. The hockey team played their last pre-Christmas game, but they will be playing more after the break. The basketball and volleyball teams are finished as well. Hopefully everyone is practiced up for MBA Games.
MBA Games is in Halifax this year and from what I can tell the plane tickets have been booked. I'm not going as it would require me to come back early and I'm just heading out to the John Molson Case Competition right away. This way I get an extra "business day" back home with which to try to catch-up with various friends and hiring agencies.
There is a big gala being organized for next week. We are doing a masked ball to celebrate our year to date before the break. From my sources it promises to be a night to remember.
Okay, enough procrastinating with this blog. Back to writing my papers...
Friday, November 14, 2008
Week 28: Finance Strategy, Managing IT, Negotiations&Conflict Management, International Business and Strategic Implementation (Module 6 cont.)
Without further ado, here is what went on this week:
MBA 853 Strategic Implementation & Change:
- Lectures on culture change levers, influence and persuasion
- All day change simulation. Check it out at http://www.experiencepoint.com/. A lot of business schools use this simulation. It was pretty cool. You read the "change model" and "players guide" then, as a team, we planned out our change strategy and which "tools/tactics" to use to implement them. Each tactic required money and time. We had $500,000 and 78 weeks to reach a better than 60% buy-in for our changes strategy.
- Team assignment based on learnings from the simulation. In addition each team must create their own framework for change.
- Individual assignments returned
- Our prof was a little disappointed that the class didn't prep the case for one of our lectures, but we are just loaded to the hilt and it couldn't be helped
- The books used for this course were " The Heart of Change" by John Kotter and "Execution" by Larry Bossidy & Ram Charan
MBA 840 IT Strategy:
- Lectures on delivering IT solutions and developing IT leaders
- More team presentations on a emerging technologies. Every class we have 2 of these presentations. The topics covered by the end next week will be: Radio Frequency Identification (RFID), Mashups, Web 2.0, Blogs, Location-aware technologies, Grid Computing, VoIP, Social Computing, Electronic Ink/Digital Paper, Paper Batteries, Speech Recognition, Biometrics and Wearable Computing.
- Every class has a mini-case associated with it that must be equal to or less than 250 words
MBA 851 Negotiations & Conflict Management:
- Lecture on the Cuban Missile Crisis Negotiations
- Another "live" negotiation assignment. Everyone received an envelope a few days prior and had to prep their side. Then we are given 40 minutes to negotiate with a pre-arranged partner to see what we come up with. This time we weren't supposed to get a settlement, but almost the entire class did, meaning they didn't honour their client's wishes.
- Session where each team presented the business negotiation styles and practices of a country of their choice. Countries discussed were: South Africa, Japan, Israel, China, Switzerland, South Korea, Russian, United Arab Emirates, Brazil, Iran, Germany, Turkey, and Spain.
- Text for this is "getting to yes" and "essentials of negotiation, 4th edition"
- Submission of topics for the final paper where each student must analyse a past negotiation with the concepts and methods taught in the class
MBA 854 International Business:
- Lecture that had a team present the "Life, Death, and Property Rights: The Pharmaceutical Industry Faces AIDS in Africa (HBS 9-702-049)" case and whether IP rights should be changed. Every lecture a team presents the case assigned and frames the topics the professor wishes to be discussed.
- Students should have chosen a country to write their final paper on by next week. This research intensive paper is on how the student thinks the country will be effected by the current economic crisis and what will be the future ramifications.
MBA 822 Finance Strategy:
- No more lectures, but there is a tutorial session next week that Dr. Wang has been kind enough to put on
- Final next week.
This weekend there is an internal case competition to decide the team that will represent Queen's at the John Molson Strategy Case Competition in January 2009. In addition there are various working sessions for team work. Of course everyone will be starting to study for exams and beginning their final papers.
Thursday, November 13, 2008
Queen's Ranked #1 Non-US MBA Program by Business Week
http://www.businessweek.com/bschools/rankings/
Top 10 Non-U.S. MBA Programs (2008, Nov 13)
1 Queens University
2 IE Business School
3 INSEAD
4 Western Ontario (Ivey)
5 London Business School
6 ESADE
7 IMD
8 Toronto (Rotman)
9 IESE
10 Oxford (SaƮd)
Registering for module 9 electives
Here are the courses and their blocks:
Jan 12-30 Block A:
- MBA 823 Corporate Valuation & Mergers and Acquisitions (instructor: Bill Cannon) (Finance)
- MBA 832 Marketing Strategy (instructor: Ken Wong) (Marketing & Sales)
- MBA 871 Financing of New Ventures (instructor: Elspeth Murray) (New Ventures)
- MBA 882 Strategic Leadership (instructor: Tina Dacin) (Consulting & Project Management)
Feb 2-20 Block B:
- MBA 826 Risk Management (instructor: Louis Gagnon) (Finance)
- MBA 881 Global Strategy (instructor: Doug Reid) (Consulting & Project Management)
Feb 23-13 Block C:
- MBA 824 Investments (instructor: Sean Cleary) (Finance)
- MBA 873 Services Management (instructor: Barry Cross) (Consulting & Project Management)
- MBA 833 Advanced Topics in Marketing (instructor: Michael Darling) (Marketing & Sales)
Mar 16 - April 3 Block D:
- MBA 835 Consumer Research (instructor: Peter Dacin) (Marketing & Sales)
- MBA 872 Managing Innovation (instructor: Lib Gibson) (New Ventures)
- MBA 828 International Finance (instructor: TBC) (Finance)
April 6-24 Block E:
- MBA 825 Corporate Financing and Capital Budgeting Decisions (instructor: Alex Faserak) (Finance)
- MBA 844 Project Management (instructor: Kathryn Brohman) (Consulting & Project Management)
- MBA 870 Marketing of New Ventures (instructor: Rob Woyzbun) (New Ventures)
- MBA 837 Sales Management (instructor: Shannon Goodspeed) (Marketing & Sales)
Entire Module Courses:
- MBA 890 New Venture Project (instructor: Shai Dubey) (New Ventures)
- MBA 891 Consulting Project (instructor: Barry Cross) (Consulting & Project Management)
- Students can also participate in the "TriColour Venture Fund", but must take the associated New Venture courses to qualify.
Here are the actual course descriptions:
Queen’s MBA Elective Course Descriptions
Winter/Spring 2009
Finance
MBAS 823: Corporate Valuation & Mergers and Acquisitions
Topics covered in this course include: introduction to stock valuation; real economic income and risk; security valuation in efficient capital markets; the CAPM, leverage policy and valuation; dividend policy and valuation (including the Gordon model); discounted-cash-flow-(DCF)-based valuation models; the fundamental securities analyst's common stock valuation model; valuing private and public companies; share valuation; share-exchange merger valuation; and divestiture valuation analysis.
MBAS 824: Investments
The purpose of this course is to examine valuation, risk assessment, and strategic management of financial assets, as well as the markets in which these assets trade. The major focus of the course will be on practical applications, with frequent reference to capital markets. An understanding of the underlying theory will make this approach meaningful. The course assignments involve hands-on investment decisions, designed to make you use the concepts in the real world.
MBAS 825: Corporate Financing & Capital Budgeting Decisions
Topics covered in this course include: bank credit policies and assessment; the choice and implementation of corporate financing policies; bank credit assessment; preferred shares and convertible securities; corporate financing decisions; optimal debt and dividend policies; strategic aspects of capital budgeting and cost of capital estimation; project analysis; optimal investment decision rules; hurdle rate estimation; capital budgeting procedures; & hurdle rate determination.
MBAS 826: Risk Management
This course offers you a unique opportunity to learn about derivatives and their applications as risk management and yield enhancement tools for financial institutions and non-financial corporations. We develop the key relationships of derivatives valuation (the cost-of-carry model, risk neutral valuation, binomial trees, and the Black-Scholes model). We analyze standard derivative instruments (futures, forwards, FRA’s, swaps, stock options) as well as more recent ones such as exotic options and credit derivatives. We explore best practices in the area of market and credit risk management and address topical issues pertaining to the use of derivatives, including capital requirements for regulated financial institutions and strategic issues associated with corporate risk management.
MBA 838: International Finance
Topics covered in this course include: multinational corporations; international trade; exchange rates; balance of payments; foreign exchange market; parity conditions; currency futures & options; international portfolio investments; currency swaps; Euromarkets; hedge funds; translation & transaction exposure; economic exposure; and cross-border valuation.
Marketing
MBAS 832: Marketing Strategy
This course has a simple objective: to help you (and your company) make money. Specifically, we work off the philosophy that we make money by creating value for customers; we keep making money by sustaining or enhancing that value over time; and we lose making money when we cease creating value. In keeping with that philosophy, the course begins by examining how marketing can create, destroy or lose customer value. We’ll then explore the central organizing paradigm - a framework entitled “Mission Critical Marketing”[1] (MCM). In the process, we’ll touch on each of the four variables that define profitability: price, cost, market share and market size. We’ll dedicate another class to a methodology called “market profiling”. Two final classes are directed at “sustaining and enhancing customer value over time”
MBAS 833: Advanced Topics in Marketing
This course is designed to provide students with a view of complex contemporary marketing situations and the solutions that marketing leaders have designed for these situations. The course builds on top of the knowledge gained during the Marketing Strategy course (MBAS 832). Advanced marketing topics are hard to define per se; however, in today’s increasingly complex business environment marketing can be viewed in many different ways. The underlying philosophy of this course is that marketing connects the organization to the marketplace. A second pivotal assumption is that there is no neutral ground and that all marketing activities either contribute positively or negatively to the development of business, the protection of business or the brand equity. The third theme element is the rapidly changing nature of marketing. [Prerequisite MBAS 832]
MBAS 835: Consumer Research
This course deals with various aspects of the collection and use of consumer/customer information for the purpose of making marketing decisions. This course provides you with skills to use information to translate conceptual understanding into specific operational plans. Using market data, this course requires you to take marketing information and develop specific marketing-based interpretations in various decision contexts. [Prerequisite MBAS 832]
MBAS 837: Sales Management
This course will introduce students to the fundamentals of sales management by developing the key skills, behaviors, and strategies necessary to succeed in sales. Specific issues include prospecting, the pre-approach, the approach, the presentation, the trial close, determining objections, meeting objections, closing the sale, and following up.
Entrepreneurship & Innovation
MBAS 870: Financing of New Ventures
This course will focus on the practical and real issues associated with the funding of an early stage company. The objective of the course is to provide students with the knowledge, skills and tools to strategize, plan and execute a funding strategy for an early stage technology or biotechnology company. Both the entrepreneurial start-up and the investor perspectives are explored in order to fully appreciate the dynamics, tensions and issues associated with funding early stage enterprises. The course content is based on the assumption that a mix of theory and contemporary practice provides the most insightful information, relevant facts and helpful pedagogy in studying early stage financing with all its temporal nuance and historic mystery. A series of guest speakers, each expert practitioners in their respective fields, has been organized to provide the students with a mix of real-world exercises, simulations, and briefings.
MBAS 871: Marketing of New Ventures
This course will focus on the unique marketing strategy and marketing management challenges faced by technology start-ups. The objective of this course is to provide students with the knowledge, skills and tools to prepare them for marketing management within a technology-driven new venture. Our definition of new venture includes new business ventures within existing or mature organizations as well as “start-up” new enterprises. Our definition of success is “sustainable” enterprises – not “get rich quick” or liquidity events favouring founders or VC’s. The course content is based on the premise that new venture marketing is a unique yet familiar subset of big “M” marketing as practiced by mature, proven enterprises. The course will be divided in two topic areas. Part 1: New Venture Crash Avoidance: Strategies for Reducing Risk and Getting to Market Part 2 will focus on New Venture Marketing Planning and Management: Unique Considerations and Techniques.
MBAS 872: Managing Innovation
This course will explore such topics as: individual vs. group creativity, innovation inspired by research; innovation inspired by the customer; sustaining product innovation; disruptive Innovation; and the innovative organization.
Consulting & Project Management
MBAS 881: Global Strategy
Most influential companies are global. Few companies who aspire to superior profitability are able to do so within the bounds of a single country market. For an increasing number of businesses, competing internationally is no longer an option. Moreover, the actions of non-North American multinationals means that today more than ever, competitive activity must have a strong defensive element as well.
Success in international markets is not a matter of luck, but of skill and persistence. Developing proficiency in international strategy translates into competitive advantage. Building competence in this area means understanding, at a sophisticated level, how companies succeed in the most demanding competitive arenas, which are usually found beyond their borders.
The approach we will take in this course is practical and problem-oriented. It is intended to enable you to acquire proficiency at strategy formulation and implementation in an international context. The course will do this by developing and applying concepts, analytical frameworks, and intuition to the strategic issues that face real-world multinational corporations, regardless of their industry.
MBAS 882: Strategic Leadership
This is a management skills course that is designed to enhance professional effectiveness, career development (promotions, salary, and job satisfaction), and quality of life in general. Through a variety of readings, self-assessments, videos, simulations, learning logs, and class assignments, you will develop a wide range of ideas, tools, and best practices that will help you bring out the best in yourself, others, and your organizations.
MBAS 873: Services Management
Students will develop a general management perspective of the typical service business for those looking to take leadership roles in a service organization or consult for those companies. Students will understand the systems and processes necessary in creating service breakthroughs, with a key focus on the involvement of a customer in a service, employee & customer loyalty, and their role in the service profit chain.
MBAS 844: Project Management
The purpose of this course is present the basic foundation concepts in project management to fulfill the Project Management Institute educational requirement for PMP certification. The course content is designed into five specific modules: a) Initiating the project, b) Planning the project, c) Completing the core functions, d). Facilitating the project, and e) Closing the project
Monday, November 10, 2008
"Best In Class" FEI Invitational Case Competition 2008
Thursday Nov 6:
- Rent a vehicle, leave Kingston at 11:30 AM, drive for 3 hours to Toronto, check in at the Delta Chelsea
- Arrive at Rotman just prior to 4 PM for the 1 hour tech. session to get laptops set-up for the wireless network. We were also given swipe cards and a tutorial on the information services available.
- 6 PM-7PM a meet and greet in the atrium
Friday Nov 7:
- 9 AM the live case is rolled out. The CEO and several executives presented their company. This year it was Pacific & Western Credit Corp.
- 9-10 AM teams retired to their working rooms to review annual reports and other information and prepare for question period
- 10-11 AM all teams assembled and each takes a turn asking a question of the company's CEO. We managed to get in 60 questions.
- 11 AM onward teams are expected to remain sequestered in their assigned work areas and not interact with other teams.
- 11 AM-1PM Lunch with case organizers and company execs.
- 6 PM Pizza supper provided
- Teams work as long as they like researching and analyzing publicly available data
Saturday Nov 8:
- Our team was working until 2:30 AM. Then we went to the hotel to practice our presentation. Got to bed at 3:30 AM.
- Up at 6 AM to get showered and to look "fresh" for the judges
- 7 AM at Rotman, grab some coffee and fruit provided by the competition, also assigned an proctor who is responsible for escorting us around to ensure we abide by the rules
- 7:45 AM all team must have submitted a paper copy of their slide deck as well as an electronic copy on a USB key provided. Slide decks much be in black&white (gray scale allowed) with no animations. However, a team did get away with some colour in their deck. I mention who since it is all in the past.
- 7:45 to 8 AM all teams in the atrium while judges are introduced and the order of the presentations was drawn randomly
- 8 AM to 1:30 PM each team presents for 15 minutes with 10 minutes of questions. Judges are given 5 minutes to finish evaluation while the next team sets up. Teams are not allowed to see other team's presentations, but must be waiting in the staging area 5 minutes prior to their set-up time. Anyone who is late is disqualified.
- 1:30 PM the CEO of the case company roles out a "surprise" crisis. This time there were two independent problems: loss of access to major source of short-term liquidity and Shoppers Drug Mart whats to purchase company at a premium through a share swap.
- 1:30 PM to 3 PM Teams sequestered in working rooms while they analyse and make a new solution to the crisis.
- 3 PM Teams submit their decks and power point presentations as before and then it is revealed who the top 4 teams are that will get to move on to the finals. The first team sets up right then while the remaining 3 are sequestered again. All remaining teams are allowed to watch the finals. In addition, a new set of judges is assembled and introduced.
- 3 to 4:30 PM Final presentations
- 4:30 PM Teams clean out work rooms and make their way to the reception at Osgood Hall in downtown Toronto
- 5 PM cocktails and mingling with organizations, case company execs., and other schools
- 6 PM dinner
- 7 PM awards (1st place HEC-Montreal, 2nd place Rotman, 3rd place Haskayne)
- 9 PM all is done. Contestants leave for home or the hotel
- 11 PM go out for a drink with my team member
Sunday Nov 9th:
- Up at 7 AM to leave by 8:30 AM
- Back in Kingston at Noon-ish. Unload and return the rental vehicle
- Dive into team meetings and course work to catch up on all the material I have missed
Overall it was a really unique experience. I hope next year's Queen's team does better and I hope the organizers a least sit the team all at the same table. Every other school was seated as teams, but the organizers saw fit to split the Queen's team up at 2 different tables on opposite sides of the dinning hall. They couldn't have put us further apart if they tried.
All that aside, the event was meticulously planned and it is a great experience for MBA students to get a taste of what it is like to be in the "hot seat" that many executives find themselves. This experience has definitely made me want to participate in more case competitions and I would recommend others try them out as well.
Saturday, November 8, 2008
Week 27: Finance Strategy, Managing IT, Negotiations&Conflict Management, International Business and Strategic Implementation (Module 6 cont.)
Classes have been in full swing this week. There were a two major assignments due, one in Strategy and one Finance Strategy. The Strategy assignment was a 40% individual paper where each student was expected to apply course concepts to a case and focus on a strategic plan as well as an implementation plan. The Finance Strategy assignment was a 20% team assignment based on the "Marriott" case. Each team had to calculate the WACC for the company, but a lot of assumptions was required.
Although we are away from class, things are still rolling on. There is a 75% attendance requirement for all courses in this particular program. Luckily all of my teammates and myself are above this requirement even with the time we were missing to participate in this case competition. The classes are being taped with the professors miked, but I doubt I will find the time to watch 9 hours of lectures. In addition the Financial Strategy quiz weighting was moved to the final since the policy of the professor was not to allow make up exams.
Finally, the other course are proceeding as planned. Nothing unusual there as the workload continues to ramp-up.
Saturday, November 1, 2008
Week 26: Finance Strategy, Managing IT, Negotiations&Conflict Management, International Business and Strategic Implementation (Module 6 cont.)
We had our first MBA 853 Strategic Implementation & Change course this week with Tina Dacin. Tina is the professor whose course I sat in on when I came out for my interview last year. The course promises to be engaging. Tina's quick wit and keen observation skills makes it hard for anyone to get away with attempting to do other work in her class or to just "coast" by.
In Finance Strategy we had a quiz. It was just a quick 30 minute test. Pretty simple, but everyone studied like crazy for it. A lot of people were feeling worried because of the experience they had with the previous finance professor.
The class had a Halloween party last night that was a blast! Lots of fun. Some of the teams took the opportunity to dress as a team. One team was a troop of smurfs, another a gang of Mexicans and yet another was Hugh Hefner and his bunnies (the guys were the bunnies and the girls were Hefners).
Today has been a massive drive to complete work. I have been too busy to update this blog as I usually do because the workload is getting heavy. Just managing to squeeze this entry in at 2 AM, as daylight savings kicks in to buy me an extra hour of sleep, after spending the last 12 hours hammering out the 80% draft of the Marriott Case for Finance Strategy. Prior to that it was a team meeting to kick off yet another assignment. Lucky for me my wife was willing to show up with some dinner so we could visit for half a hour. Not sure what I would do without her. Okay, I'm outa here. Tomorrow promises to be just as busy.