Conversation with a CEO

by Casey

As a Boston College Carroll School of Management graduate student, we have many opportunities to interact and brush shoulders with high level executives from a wide range of companies located in Boston and throughout the world. One of these opportunities is our Manager's Studio. What is Manager's Studio, you ask?

Manager's Studio is an event held quarterly here at the Carroll School of Management that brings top executives from a variety of different industries to campus to share their personal and professional experiences with students.

Hosted by BC faculty member Bob Radin, the Manager’s Studio session begins with an interview of the CEO, offering a rare glimpse into the executives’ personal lives, which is then followed by a student-led Q&A period. Discussions cover topics such as personal goals, challenges, career paths, managing and leading, and the business environment. It is the perfect opportunity to get inside the mind of the executive and find out what their lives are really like!

Recently, BC had the honor of hosting Jim Calhoun, the CEO of Converse, at a Manager's Studio session. Jim shared his career journey, leading him to Converse, and the insights he learned along the way. One of those insights was learning how to be a good teammate. For Jim, "figuring out the concept of team" was crucial to his success and his advancement into management. He learned what type of people work well together and leveraged this knowledge to form high-performing teams that fueled company growth.

Jim also learned the importance of failure, "At Converse, we fail a lot. I'm a super big fan of failure." He touched on the concept of "failing forward," and how from your failures you learn invaluable truths that show you how to move forward in your business. Many leaders have a moment of failure at some points in their career that is fundamental to the decisions they made and the paths they chose, and Jim shared one such story with us.

In addition to sharing his own personal stories, Jim also shared some wisdom for us as MBA students. He encouraged us to follow our passion no matter what, as that is where we will find true fulfillment in our careers and jobs. It is also important for us to be always "forward thinking and forward looking" - it can be easy to be complacent and content with where we are at, but it is crucial to always be looking to the next step in our careers.

As a CEO of a large, well-known company, Jim obviously has a depth of knowledge about the business but also talked about surrounding himself with others who know more than he does. "Leaders don't have to be the smartest in the room." Acknowledging this has freed him to be more open and honest with his co-workers and staff.

When asked about advice for us as we start interviewing and looking for jobs, Jim said that he always asks potential job candidates why they want to work for Converse specifically, and that we should also be prepared to talk in details about the job or industry we are applying to. He also looks for individuals who would be the right fit with the culture at Converse, and is seeking out those that he believes would be strong "change agents" for the company.

After the session was over, students had the chance to attend a reception where they could talk one-on-one with Jim more in depth and network with him directly. Manager's Studio really is an excellent opportunity to gain exposure to high level executives, receive some sound business advice and build your network and own personal brand. I personally can't wait until the next one!

The G51 Venture Capital Scholar Program

by Khanh

In my last post, I briefly talked about my decision to attend the Carroll School and how much I enjoyed the applied learning aspect of the program here. This time, I would like to delve deeper into my favorite program, the G51 Venture Capital Scholar, and relay my experience so far.

The program was started approximately ten years ago by Rudy Garza, the Founder and Managing Partner of G51 Capital. Initially, Rudy was working with a couple of in-state institutions in Texas, including UT Austin and Baylor University. Thanks to its overwhelming success, the program quickly grew to a national level and, as of this fall, involved more than ten top tier institutions, including MIT, Harvard, Northwestern, Duke, and Boston College.

For every school, Rudy aims at selecting three to four graduate students from diverse backgrounds, such as business, engineering, and computer science. All share the same passion for entrepreneurship and venture capital. Working with Rudy and the other Managing Partners has been a fantastic experience and, frankly, my learning curve has grown exponentially over the course of three months.

During the program, G51 Scholars are expected to fulfill the following tasks: deal flow review, communication with entrepreneurs, local deal flow and specific projects as assigned by the Managing Partners. Says Rudy, “Our goal is to create an exceptional network of future business leaders grounded in technology innovation and entrepreneurship. We are connecting with the best business schools and entrepreneurial institutions, in the United States and internationally, to enable a global renaissance of science and technology commercialization.”

Since G51 invests in hardware, software, clean technology and internet service companies, the Scholars have plenty of freedom to carry out the sourcing process. So far, I represented G51 at a number of start-up events, including the MIT Bootcamp, Harvard Cyberposium, and the Babson Entrepreneurship Forum. In addition, another rewarding aspect of the program is our exposure to some inspiring visitors in the field of technology entrepreneurship during our teleconference. At one point, I found myself pitching a company to Rudy, without realizing that Lee Walker, the first President of Dell Computing, was also in the room. Thankfully, his follow-up comments were positive.

The G51 Venture Capital Scholar Program has been an amazing journey for me here at BC. I look forward to continuing my commitment to the program in the spring.

Follow the Eagle

by Khanh

“Teacher, why did you decide to come here instead of Hawaii? I heard that place is like a paradise,” asked one of my students. I winked at her and answered, “Well, this place is like a paradise to me too, because I have always wanted to come here and realize your dream.” We were sitting under the burning sun in Save, a small town about two and a half hours away from Kigali, the capital of Rwanda. It was mid-August and I was teaching a group of aspiring high school students from all over Rwanda about entrepreneurship and leadership skills, thanks to a program organized by my alma mater, Babson College. I knew I always wanted to pursue a field in which I could help people grow their businesses. Fortunately, I can rekindle that desire at my new home—the Boston College Carroll School of Management.

Back in April, it was not a difficult decision to pick BC and send my regrets to other institutions, since, as I mentioned above, the Carroll School could help carry on my dream. Not only does it have an intensive and solid curriculum in asset pricing and management, the Carroll School also provides students with practical opportunities to get their hands dirty in the fields of entrepreneurship, private equity and venture capital. One of my favorite classes so far has been the G51 Venture Capital Scholar Program. Partnering with G51 Capital, an early stage venture capital based in Austin, Texas, the Carroll School is one of only five schools in the country selected to participate. Through a period of up to two semesters, this highly selective program provides graduate students with a unique opportunity for hands-on learning and mentorship with G51 Managing Partners. Particularly, students get to review, analyze and evaluate business plans each week, and share their investment recommendations with other graduate students and the G51 Partners. They are invited to partake in Deal Flow Review meetings and listen to the entrepreneurs’ pitches.

Moreover, the Carroll School offers graduate students opportunities to participate in the Venture Capital Investment Competition (VCIC) and the Entrepreneurship Clinic program. The VCIC offers selected students an opportunity to act as venture capitalists during a national elevator pitch competition, in which they have to compete with other top graduate programs. The Entrepreneurship Clinic program provides students an opportunity to act as business planning advisers to real entrepreneurs who are seeking valuable advices in different fields including law, marketing, finance, accounting, etc.

Clearly, all these wonderful programs are keeping me busy, but I am happy knowing that, as soon as I receive valuable knowledge and theories from my professors, I get to apply them right away in the real world. For more information about other applied learning programs that the Carroll School offers, you can check out this link.

The BC community embraces the words of Saint Ignatius of Loyola, the founder of the Jesuit Order, "Go set the world aflame." I am certainly excited and happy to be a part of this mission. Please check back this blog regularly to look for updates on my journey.

First Year vs. Second Year? The Difference is Night and Day...

by Matt

Welcome back to another great year here at the Boston College Carroll School of Management. My fellow second year classmates and I are coming back from a summer of internships, travel and a break from classes, to get the ball rolling on our final year in this MBA journey. Also, I’d like to welcome all our new first year MBA candidates to Boston College. Good luck and enjoy the ride!

My summer internship was spent in Hartford, CT, with the Hartford Insurance Group. While I was there, I was tasked with scheduling people and resources for 150 projects in their Middle Market and Specialty Commercial division. It was a great experience and gave me a look into an industry that I never had exposure to before. Now that it is done though, I'm very happy to be getting going with my final year of the MBA program.

So what’s the difference between first and second year? There are three things that stand out immediately:

1. This year is comprised almost entirely of electives. During your first year, many of your classes are chosen for you and consist of mainly the core MBA classes (statistics, accounting, marketing, etc.). During this second year, students take classes that relate directly to their specializations and have the chance to take elective courses.
2. The one required course, Management Practice III (MP III), focuses on entrepreneurship and business plan writing, and serves as a capstone for the program. In this program, student groups are paired with an entrepreneur and are tasked with writing a business plan for a product, service or other start up venture. These are then presented in the annual business plan competition at the end of the year.
3. Most of our classes are at night. We share these night classes with Evening MBA students, so it is nice to see some new faces, meet some new people, network, and get a fresh perspective. These students have the additional challenge of maintaining their full time job while pursuing their MBAs at BC, and they always bring a great point of view to the conversation. The shift in scheduling also allows Full-Time MBA students to have internships during the academic year and gain more experience.

Overall I’m excited for this year for a number of reasons. Being able to pick and choose our classes gives flexibility in scheduling and allows us to pursue specific classes we find interesting. In addition, MP III gives us exposure to entrepreneurs looking to break out on their own, and adds perspective for those of us who are also looking to do the same. And finally, like most of us, I’m looking forward to a new job (and paycheck) when my time here is complete.

So welcome back for another great year, I hope you enjoy the rest of my time here!

The Part-Time, Full-Time Decision

By Jaclyn

For some, only one of these options will be a consideration. But for those of you who may be choosing between the two programs for the MBA, read on...

A QUICK SNAPSHOT:

	Full-Time MBA	Evening MBA
Length of Program	2 years	Varies; typically 3-4 years
Credits	56 total	56 total
Number of Students	Approx. 100 students; Split into cohorts of 50 for Year 1	Approx. 100 students; Options for Cohort or Self-Paced
Curriculum Requirements	Core courses +   specialization (6 electives)	Core courses +   concentration (3 electives)
Experiential Learning Components	Year 1: Design Thinking + Consulting Project Year 2: Business Plan Project	Business Development Workshop
Career Strategies	Access to all career services; Summer Internship, and opportunity for academic year	Access to all career services
Other Programs Offered	Access to lectures and events, international opportunities, and off-campus excursions	Access to lectures and events, international opportunities, and off-campus excursions

STUDENT PROFILES:

Meet Benjamin, an Evening Student...

1. Why did you decide to get your MBA?

I decided to get my MBA because I knew based on my career trajectory, I would manage people, operations and processes in a relatively short amount of time. The MBA has provided the theoretical knowledge I needed to thrive in a supervisor position when the opportunity was given to me.

2. Why did you choose the Evening program?

I chose the Evening program because, being that I am career young, I wanted to further my educational development while pursuing my career simultaneously. I knew it would take my 3-4 years to complete the program and in that span I would gain valuable full-time work experience.

3. What do you consider the strengths of the Evening program?

In my opinion, one of the greatest strengths of the Evening program is the opportunity to take theories and put them into practice literally the next day. There have been several times, where I learn a new concept or gain insight about a company's best practices and I can relate the idea to my current job and make suggestions for implementation.

Meet Rachael, a Full-Time Student...

1. Why did you decide to get your MBA?

I chose to get my MBA for several reasons. My previous academic experience is in humanities and prior to attending BC, I worked at an international nonprofit. I was therefore eager to complement my nontraditional background with a rigorous business education. Also, I plan to work in brand management following graduation, so as a career switcher an MBA has given me the practical and theoretical tools needed to thrive in a new industry. Finally, I was eager to be in a classroom of peers and professors with diverse backgrounds. I've learned a tremendous amount from class discussions and case analyses, and now have a strong personal and professional network that will last long after graduation.

2. Why did you choose the Full-Time program?

I was eager to be immersed in the business school experience, and felt that it would be a challenge to fully take advantage of the social and academic aspects of the program if I were also juggling a full-time job.

3. What do you consider the strengths of the Full-Time program?

I feel that the greatest strength of being a full-time MBA is that you are fully immersed in the program, which contributes to a rich and holistic understanding of business. For example, topics I learned in a first quarter strategy course have continued to develop in future classes, and being in the program full-time highlights those connections and helps crate a comprehensive understanding of the enterprise. As full-time students, we are also committed primarily to this program, which fosters a sense of camaraderie that will lead to lifelong friendships.

For more information, please visit:
Full-Time: http://www.bc.edu/content/bc/schools/csom/graduate/mba/fulltime.html
Evening: http://www.bc.edu/content/bc/schools/csom/graduate/mba/evening.html

An Interview with Daniel Jones

by Lynne

To the right is Mr. Daniel Jones. He has graciously allowed me to interview him. Please excuse my interviewing abilities. 

Hi Danny, tell me a little about yourself:

-I am a current MSF student. I was an accounting undergraduate major at Marquette and worked in the field as an auditor for three years before coming to Boston College. 

Why did you decide to come to Boston College?

-I want to switch my career to one in investment management. BC has one of the top Finance programs in the country and Boston is a major hub for the asset management industry. BC offers an exhaustive alumni network that is always willing to help and I embrace its Jesuit philosophy.

What class are you enjoying this semester?

-I really enjoy CIRM.  

What’s CIRM?

 -Curriculum in Investment Research Management 

Can you describe the class a bit?

-It is a three stage course. The first stage is an introduction to investment research and the second stage is a competition where the teams in the class compete to manage the Boston College Endowment. Throughout the semester we had various industry professionals come in and speak to the class about their experiences. These individuals were aware of the competition we were in and provided us with advice to help formulate our strategies. 

Interesting, what is the competition process?

-We had four teams in the class and each team came up with an investment philosophy/strategy. We each then conveyed our strategies to the Board of Trustees through an RFP (request for proposal ) and presentation.

Was that nerve racking?  How did you guys do?

-A little bit but we were confident in our strategy and proud of work regardless of the outcome. We ended up earning one of the two spots and we are currently managing part of the endowment. 

Wow, congratulations! You mentioned three phases, what is the third phase?

 -The third phase is the actual management of the endowment. Our group meets on a weekly basis and we discuss specific investment ideas such as stock and bond holdings. Based on our research and discussions, we have created a portfolio and we report our performance to Professor Howe monthly. We have two scheduled presentations with him throughout the semester where he asks us about our meetings and why we chose different stocks; he acts as the client. 

So CIRM perfectly correlates with your career goals.

-Absolutely.

Networking for Success!

by Siobhan

A major benefit of attending business school at a university with a network as large as BC’s is the access to various speakers and events on campus and in the greater Boston area. It’s easy to get caught up in your schoolwork and even the many social activities that a MBA program provides, but a huge part of the reason I returned to business school was to grow my network. The easiest place to start is by developing strong relationships with your classmates, along with faculty and staff at your university, but it’s also important to evaluate what other professional networking opportunities exist in your MBA program. A few unique networking aspects of BC’s program are:

• Classroom Guest Speakers: Over the past 3 quarters, a number of our professors have invited alumni and other relevant guests within their network to speak to our classes. These speakers have ranged from the Vice President of Marketing at Hasbro to the CEO of Boston Duck Tours to the CEO of Naragansett Brewery, to many other individuals who are eager to share their experience on various topics with our classes. Our professors are also happy to make introductions between students and their contacts and it’s always great when you are able to make that personal connection and relate it to a classroom experience.

• Manager’s Studio: A unique aspect of the BC MBA program, Manager’s Studio brings top executives to campus to share their personal and professional experiences with students. This year, I’ve attended three fantastic sessions that have provided me with great perspective on the skills I need to continue to develop during my time at BC in order to be a successful executive. Each session begins with an interview, followed by Q&A, and concludes with a reception that provides us with the opportunity to introduce ourselves and network with the executive.

• CEO Club of Boston: The CEO Club of Boston hosts seven or eight luncheons a year, typically at a location in downtown Boston. Although space is limited, typically there is space for MBA students. This provides an intimate setting to learn about key issues affecting both business and the economy from a leader within their industry.

• Boston College Events & Lecture Series: We are fortunate that Boston College has such an extensive network of centers and forums that are constantly putting on a variety of events and lecture series that are open to the university community as a whole. The Winston Center for Leadership & Ethics frequently offers lunch time lecture series or brown bag lunches with leaders on a specific topic. The speakers are sometimes alumni – but many times are notable leaders from the greater community eager to share their experience with the Boston College community.

• Being in Boston!: Although this may seem obvious, the access to other conferences and lectures put on by other leading universities is priceless. Recently, I attended the Dynamic Women in Business Conference put on by Harvard Business School. Classmates of mine attended the Social Enterprise Conference that HBS hosted as well earlier this year and others attended an Entrepreneurship Conference hosted by Babson. I’ve heard of students attending tech conferences hosted by MIT and there are countless other events that fortunately, due to our location in such a rich academic city, we are able to leverage as frequently as we would like.

Back to Life, Back to Reality

by Siobhan

After returning to the second semester of business school Monday, this first week has felt like a month. Whether it’s the reality that another tough semester has begun or the major contrast to a month of relaxation and laziness, the return to BC’s campus – while for me was definitely needed to get back into a routine – was not necessarily a joyous occasion when on Monday morning we literally got down to business (no pun intended!). Between Boston’s cold weather, the hundreds of pages of reading that now need to be completed, and other projects beginning to pile up, it may be difficult to look ahead to the various academic and social activities that will make our second semester at the Carroll School even better than the first. Here is a preview of the second semester:

• Carroll School of Management Winter Gala: Held every year, this is an event not to be missed! This year’s event will be held downtown at the InterContinental Hotel, overlooking the Fort Point Channel with views of the Boston Harbor and the city of Boston. Open to the entire graduate school, this is a great way to dress up for a night on the town, put on your dancing shoes, and let loose with your classmates – while making connections with some of the other students that the First Year Full-Time MBAs don’t necessarily get to see on a daily basis.

• BC Consulting Project: A unique aspect of the Carroll School, the BC Consulting Project, allows us to apply the skills that we have learned over the course of the first semester. Our class has been split into new teams (20 total) and have been matched with a company, nonprofit, or government agency that has a real-world problem that they need solved. This is not a simulation – but an actual business problem for an actual organization that our team is expected to complete over the course of the semester. While this will be a very challenging and time consuming aspect of this semester, I know it will be an incredibly rewarding experience. The capstone of the project is the Diane Weiss Consulting Competition that takes place in May. All of the teams present their work to a panel of faculty and three teams are selected to move on to the final where they present to a panel of outside judges. I look forward to seeing the hard work of my team, and all of my classmates’ hard work, come to fruition and see the impact we’ve made in these organizations throughout New England.

• BC Business Days: Every spring semester, there are typically at least three events to welcome admitted students to Boston College’s campus. If you are an admitted student, I highly recommend taking the time to come visit BC’s campus and spend a day in Fulton Hall getting to know the program, faculty, staff and current students. For my class, it’s a great way to pay it forward and share our amazing experience at BC to date with the future class of 2015.

• Tuck Winter Carnival: Held every year in Hanover, NH and hosted by Dartmouth’s Tuck School of Business, this is an amazing way to get out of town for the weekend, while networking with other MBA’s in New England. It’s a weekend complete with skiing, parties, networking, and enjoying some of New England’s best winter scenery!

As you can see, although this semester will be incredibly demanding, there are so many things to look forward to between now and the end of the year. Between the real world application of the business skills I’ve learned over the course of the year so far, plus a host of social activities to keep me sane, I plan to make the most of this semester and know that it will be even better than the last.

Welcome to Second Semester!

by Matt

“Back to school, back to school, to prove to Dad that I'm not a fool. I got my lunch packed up, my boots tied tight, I hope I don't get in a fight. Ohhhh, back to school”
- Billy Madison

Happy New Year and welcome back to my blog! I hope everyone had a happy and safe holiday season. Here we are after a 4 week winter break, gearing back up for another semester starting Monday. While the initial semester for the first year class was pretty intense, it’s looking like the pace will not slack at all for the second semester.

In addition to beginning electives towards our concentration, we begin our semester-long consulting project. This project is a yearly event where local area companies have teams of BC MBA students come into their corporation and act as an outside consulting team. A few of the things teams in the past have been asked to do is install a new business process, developing business plans and evaluating investment opportunities.

Our class has been broken up into 15 teams of 5 to 6 people each. Each group is assigned 2 companies to interview with, learn about what specific issue they will address, and toss out a few ideas on how they would plan to attack the problem. My team has had both of our interviews and is waiting to see which company we are chosen to work with. These projects are time intensive, and it will be a challenge ensuring we deliver a quality product to our clients. However, I’m sure I speak on behalf of everyone in class when I say I’m excited for the experience and can’t wait to find out which company we will be working with.

And on a final note, the Divisional round of the NFL playoffs is going down this weekend with the Pats taking on the Texans… GO PATS!!

Second Quarter, Post-Sandy, and Flag Football

by Matt

Welcome to the second quarter! My classmates and I all survived the first quarter finals and are rolling along into our next round of classes. For the next seven weeks headed into the holidays we will be taking Finance, Marketing, Information Technology and Economics.

Our marketing class in particular has given us a great real world opportunity. Divided into groups, we are tasked with coming up with marketing plans for real world clients. My group in particular was given a tasking from the toy company Hasbro to help market a mobile app they have turned into a board game. It's looking to be an interesting and fun experience and these kinds of real world learning experiences are what separates BC from other MBA programs.

As I'm sure most everyone knows, Hurricane Sandy just hit us pretty hard here in the northeast but it looks like everyone in class managed to survive Hurricane Sandy relatively unharmed. Compared to some other areas on the East Coast, Boston got off pretty easy without too much damage. Aside from some downed trees and branches, the campus is in pretty good shape. However, we did make some BC history as the first students in a long time to miss classes for weather. I hope the folks reading this are doing well after the storm as well.

On a lighter note, the flag football season is in full swing. We have our games on Sunday mornings and they've been pretty competitive. Our full time MBA class has two teams, one for each section. So far my team for section 2 is in a good spot for the playoffs, 3rd place at 3-2... I'm feeling a championship this year!

That's about it for now, have an awesome day!

East Meets West - Tech Trek 2012

by Eric

To say that Tech Trek West was one of the highlights of my MBA experience would be an understatement. Twenty-four full-time and part-time MBA students ended their winter break early this year to hop between Seattle, Palo Alto, and San Francisco to visit twenty companies in five days. Exhilarating and exhausting all the same time, this course put us in front of senior level executives, receiving master class level educations at some of the world's most interesting companies. From members of the Fortune 500 list to start-ups and venture capital firms, we certainly felt the pulse of Silicon Valley.

Learning at Nintendo

While you can read about many of these companies (i.e. Starbucks, Facebook, Amazon, and Zynga) in case studies offered by the Harvard Business Review, there is really nothing like experiencing their cultures head-on. And in case, you're wondering, everything they say about Google's culture is true. Gourmet meals three times a day. Free lattes every 115 feet.  Hair stylists and masseuses at your beckon call. Laundry and dry cleaning services everyday. Ironically, a company like Google, known for its forward thinking and revolutionary technology, has provided its employees with what I essentially like to call the June Cleaver of work experiences. Short of a string of pearls and a "Yes, dear" every once in a while, the 'businessman' hasn't lived this good since he came home to find a Wally and the Beav 'messing around' before dinner. All kidding aside, while West Coast companies certainly know how to care for their employees, it appears to be worth it as these firms are attracting some of the brightest, most creative and entrepreneurial individuals in the field. Now, all they have to do is replace those small bicycles with Segways and you can sign me up tomorrow.

While I could write for days on the knowledge I've obtained through these visits (and believe me when I say that I have to complete the deliverables for this course), I will spare you the pain and include just a few highlights from the trip.

• Meeting with the Social/Digital Marketing Team at Starbucks Headquarters. Nobody does it better than Starbucks (and they put together a mean gift bag, too). We also were able to test out their blonde roast days before it's official launch.
• A master class with Phil Schiller, SVP of Worldwide Marketing and BC alum, at Apple, Inc. just days before he launched Apple's education project in New York City.
• An informative presentation and intimate dinner with Tallwood Capital partner George Pavlov at Nolas in Palo Alto.
• Getting my inner Michael Chiarello on in Napa at Round Pond and Schramsberg. While the clock said 9 AM California time, it was definitely 5 PM somewhere in the world.

Lastly, I would like to leave you with a few fun photos taken throughout the week. I assure you, the week was not all fun and games - but much of the action that occurred behind closed doors around executive conference tables remains as proprietary as Equinix's undisclosed location.  

Checking out the giant screen at the Experience Music Project in Seattle

Group shot at the EMP

Jamming with Michelle and William at the EMP

Space Needle - Staring back at Martin Crane  (an allusion to "Here's Looking at You", Frasier, Season 1, Episode 5 - check it out!)

Having a beer at a Starbucks?! Say what?

Suited up for my meeting at Intel. Business casual as usual.

 

Group photo at Facebook. 'Like it' if you dare.

Bomb Squad Revisited

The Bomb Squad: (left to right) Matt DiStefano '12, Carly Ferris '12, Joanna Lippert '12, moi, Vivi Zhuang '12.  Not pictured: Anna Wascher '12.

by Eric

On Friday, December 16, five teams of MBA candidates matched off to compete for bragging rights and a cash prize in Fulton 511. This competition marked the culmination of MPIII:  Business Planning and Entrepreneurship – a required course taught by Professor Gregory Stoller for all full-time second year graduate students. Teams may originate their own business concept or partner with outside entrepreneurs and companies to further develop their ideas. Ultimately, each team is responsible for completing a full-length plan incorporating management-practice knowledge and concepts explored in such classes as financial management, marketing, operations, and business strategy. In addition, each team must present a five-minute elevator pitch to a panel of judges comprised of local business professionals who will, in turn, select the aforementioned five teams to present their full plans within the frame of a 15 minute presentation followed by ten minutes of questions and answers.  

In the field doing market research.

This blog entry would have been considerably shorter had my team not been lucky enough to be selected to go to the finals. Partnering with TBS Technologies, our team presented a plan for a unit that is designed to release chlorine dioxide gas to decontaminate spaces such as biosafety cabinets. With one press of a button, this device is proven to be 99.9999% (yes, that’s six nines!) effective in such situations. The biggest challenge for our team was finding the appropriate environment to launch this device. While chlorine dioxide is a perfect compound for decontamination, it can also be deadly. Good luck marketing this device to housewives looking for a quick clean. “Step 3: Run for Your Life” certainly seemed like a barrier to entry in the consumer product goods sector. That being said, bioscience professionals working in secured, laboratory settings seemed like the perfect users for such a cleaning process.

Bertolt Brecht

In the end, The Bomb Squad (our only partially satirical self-assigned team name) took top prize at the competition. The former theatre major in me would like to think it was the verfremdungseffekt that won over the judges. (Did I just use the German phrase for a theatrical distancing effect in a business school blog?) Or perhaps it was the Mighty Duck’s Flying V formation that swayed the votes? (Who doesn’t root for the underdog?) Brechtian staging and subliminal messaging aside, our team came together in the final hours to deliver an admirable 85 page business plan and a knowledgeable presentation.   

This victory came as quite a surprise to us and was met with much humility. Personally, I was blown away by the innovation, intelligence, poise, and eloquence of my fellow classmates.  Some of the other projects from the semester included a Lebron James line of school supplies, a tablet-based device for placing orders and making payments in restaurants, and a Catholic school management consulting company. My personal favorite was from the team who brought us high-tech microwavable dishware that is designed to keep your dinner warm for up to 30 minutes. Presented in the form of an infomercial parody, the pedagogical structure of the demonstration was honestly quite brilliant. Ryan Traeger ‘12 gave a breakout performance as an entrepreneur schlepping his dishware on a home shopping program.  Though an indisputable spoof, Ryan played the comedy straight and refrained from commenting on the material (a trap even the most popular comic actors fall into!). With delivery this good, I was ready to buy my HotSpot Microwavable Dishware on the way out the door.

The Flying V - the epitome of teamwork.

Business with Buffett: No Big Deal

by Eric

On Friday, October 21, twenty lucky MBA students from the Carroll School of Management's full-time and part-time programs were once again treated to a day with Warren Buffett. I was fortunate enough to be amongst this bunch. Our itinerary included a question and answer session with Mr. Buffett that ran for well over two hours and a leisurely lunch at Omaha’s family-run Piccolo Pete’s Restaurant.

Prior to the trip, I already had a great respect for Mr. Buffett’s prudent investment strategies, strong sense of business ethics, and commendable commitment to philanthropy – but in all honesty, I had no idea as to what kind of personal impression the man behind the headlines would make on me throughout the day. That said, I am delighted to report that Mr. Buffett exceeded all conceivable expectations. Humble, gracious, approachable, and surprisingly bawdy are just a few of the adjectives to describe this celebrated business man. While many of the questions addressed to Mr. Buffett related to his views on investing and the current economic state of the country and the world as a whole, he made a conscious effort not to turn our short time together into a master class in finance, but rather used the opportunity to share with us his high-level, yet personal insights on life, love, professional and personal success, and patriotism. Think Wall Street meets Tuesdays with Morrie. Below are just a few of the insights he shared with us that Thursday. I warn you – these nuggets of wisdom are not the typical sound bites you get by scanning The Wall Street Journal or The Financial Times.

-          On Careers: “Work for whomever you admire the most.” Upon hearing this, a record number of Harvard Business School graduates decided to become self-employed.

-          On Business Practices: “You might not remember the exact price of the product from when you bought it, but you’ll probably remember how you were treated when you bought it.”

-          On Marriage: “They always tell you to marry someone for his or her intelligence. Warmth. Sense of humor. Here’s some advice - just look for someone with low expectations if you want a marriage that will last.”

-          On Human Rights: “I am a firm believer in equality of opportunity and inequality of results.”

-          On Words to Live By: “A bell's not a bell 'til you ring it / A song's not a song 'til you sing it / Love in your heart wasn't put there to stay / Love isn't Love till you give it away.” ~ lyricist, Oscar Hammerstein II

Following this candid and memorable question and answer session, we all joined Mr. Buffett for a luncheon at Piccolo Pete’s, an unassuming establishment that you would think you had a better chance of running into the Food Network’s Guy Fieri in than one of the world’s richest men. Simple fare; hospitable service – it should no longer be shocking that this is one of Mr. Buffett’s favorite local restaurants. It was possibly most endearing to witness Mr. Buffett’s warm interactions with the restaurants’ set of regulars and wait staff. Clearly, everyone in this town rightfully adores their most celebrated citizen. This was possibly most evident at the end of our meal when each of us received dessert – Mr. Buffett’s favorite, a root beer float that was once featured in Fortune - with the largest glass placed in front of the big cheese, himself.

Following lunch, Mr. Buffett joined us in the parking lot for a casual photo session, granting every student on the trip an opportunity to pose with him in anyway they’d like. Props welcomed! No wonder I loved this guy – he has a clear appreciation for theatrical flair. For my photo op, a friend of mine created a faux New York Times article where Mr. Buffett agrees to produce my latest musical…with one caveat…he gets the lead. Without missing a beat, Mr. Buffett agreed to take 15% of the box office. I’ll have to consult with my business law professor to confirm how binding verbal contracts are!

See below for photos from this once-in-a-lifetime weekend. Also check out a copy of the aforementioned New York Times article.

Piccolo's - "Where everybody knows your name" - at least they do if you're Warren Buffett.

Group photo in the parking lot across from Piccolo's

Dinner on the first night in Omaha



 

Consulting Commences

The Boston College Consulting Project has begun. Our team has been assigned to work with Brown Brothers Harriman in the Financial District in Boston. Over the next semester, we will focus our efforts on researching and identifying globalization strategies to help BBH continue to lead the industry in cutting-edge technologies, innovative products, and client service excellence.

We are very lucky to be working with James Burns, a fellow BC MBA candidate and also a full-time BBH employee, as our second year consultant. Last week, our team visited the very elegant and impressive BBH headquarters (think Fidelity Fiduciary Bank from MARY POPPINS) to be drug-tested and complete our background checks. After several large bottles of water and a week of abstaining from poppy seed bagels, our team is ready to hit a home run for BBH