I had some free time over the last 24 hours, hence the flurry of blogging.
Part of my inspiration to blog came from present INSEAD bloggers such as Res I(p)sa, Necromonger, Le Blog de Hog, D.T.L.F and Million Dollar Spatula. So with this free time I have also caught up with these blogs.
Unfortunately, while the blogs are all witty, informative and wide ranging, the recent posts are beginning to inspire the beginning of a mild concern (aka panic); hence the genuflection to the (ahem....) "master" songsmith known as Phil Collins in the blog heading.
P1 seems intense, manic, stressful, even overwhelming, as well as fun. The workload seems designed to be impossible, without factoring in company presentations, parties, networking and "me" time. Then there are the practicalities of life such as eating and sleeping.
The term "nightmare" springs to mind.......
"Only after disaster can we be resurrected"
Fight Club (1999)
Friday 28 September 2007
Thursday 27 September 2007
Business School Rankings - Do they matter?
This topic seems to obsess multitudes of people throughout the world. People seem to have nothing better to do than to spend hours, days, week s arguing as to the veracity of a ranking quotient for business school. The question of whether HBS, Stanford or Wharton is the number one ranked school in the US (or the world) causes rational people to blow a gasket and produces verbal (or written/typed) diarrhoea.
Add to this mix INSEAD and all hell breaks loose. I was referred to a BW forum discussion about INSEAD and whether it was a good school based on a particular ranking. Someone was arguing that a school in Hong Kong was a superior school. It caused something verging on an international diplomatic incident with the proponent of this argument being "launched" upon by an alliance of nationalities - as George Dubya would put it "a coalition of the free/willing" - and proved...well absolutely nothing.
I start from the belief that all formal ranking methodologies are imperfect and have in built bias. You can put a case for the Businessweek rankings, but they have an inherent bias towards the US and the FT, EIU rankings etc... all have their own flaws.
I think the rankings debate distracts from the truth that the perception of students and more importantly employers is the key in determining ranking and attractiveness of a school. From that point of view HBS, INSEAD, Stanford, Wharton are head and shoulders above the rest. One only has to examine the published statistics for employment post MBA to see that the "blue chip" companies are swarming all over these schools. For a detailed analysis see Necromongers analysis in http://onwardtomba.blogspot.com/2007/06/insead-career-report-2006-stanford-and.html
Yes, rankings do matter, but only with the understanding that beyond a certain point the ranking is irrelevant. Whether INSEAD is ranked higher than Chicago or Columbia or LBS is unimportant. All that matters is that most employers recognise these schools as producing the people they want.
For what its worth I would rank business schools (on a worldwide basis, not just US) as :
1) Stanford
2) HBS
3) Wharton
4) INSEAD
5) LBS
6) Chicago
7) MIT
8) Columbia
9) Kellog
10) IMD
You should note that this is my perception and it is based on mostly intangible factors. A further caveat is that I chose INSEAD over some of its rivals and so I am likely to have an inherent bias. Finally, ranking is an art not a science.
Ranking is a brand, an intangible aura, established over decades, self perpetuating, sustainable and as such has its own power. And therein lies the truth that if the top companies concentrate their recruitment on these schools, then these schools are the top schools.
As such the exact ranking is not such a big deal because of the simple fact that if you went to any of the above schools you should walk out and be a serious candidate for the employers of choice whether conglomerates, consultancies, IBs or PE houses.
And surely that is the point of rankings - helping you identify the group of schools you want to apply to because that is where the employers of choice visit and recruit.
Add to this mix INSEAD and all hell breaks loose. I was referred to a BW forum discussion about INSEAD and whether it was a good school based on a particular ranking. Someone was arguing that a school in Hong Kong was a superior school. It caused something verging on an international diplomatic incident with the proponent of this argument being "launched" upon by an alliance of nationalities - as George Dubya would put it "a coalition of the free/willing" - and proved...well absolutely nothing.
I start from the belief that all formal ranking methodologies are imperfect and have in built bias. You can put a case for the Businessweek rankings, but they have an inherent bias towards the US and the FT, EIU rankings etc... all have their own flaws.
I think the rankings debate distracts from the truth that the perception of students and more importantly employers is the key in determining ranking and attractiveness of a school. From that point of view HBS, INSEAD, Stanford, Wharton are head and shoulders above the rest. One only has to examine the published statistics for employment post MBA to see that the "blue chip" companies are swarming all over these schools. For a detailed analysis see Necromongers analysis in http://onwardtomba.blogspot.com/2007/06/insead-career-report-2006-stanford-and.html
Yes, rankings do matter, but only with the understanding that beyond a certain point the ranking is irrelevant. Whether INSEAD is ranked higher than Chicago or Columbia or LBS is unimportant. All that matters is that most employers recognise these schools as producing the people they want.
For what its worth I would rank business schools (on a worldwide basis, not just US) as :
1) Stanford
2) HBS
3) Wharton
4) INSEAD
5) LBS
6) Chicago
7) MIT
8) Columbia
9) Kellog
10) IMD
You should note that this is my perception and it is based on mostly intangible factors. A further caveat is that I chose INSEAD over some of its rivals and so I am likely to have an inherent bias. Finally, ranking is an art not a science.
Ranking is a brand, an intangible aura, established over decades, self perpetuating, sustainable and as such has its own power. And therein lies the truth that if the top companies concentrate their recruitment on these schools, then these schools are the top schools.
As such the exact ranking is not such a big deal because of the simple fact that if you went to any of the above schools you should walk out and be a serious candidate for the employers of choice whether conglomerates, consultancies, IBs or PE houses.
And surely that is the point of rankings - helping you identify the group of schools you want to apply to because that is where the employers of choice visit and recruit.
INSEAD, HBS, Stanford, Wharton et al....What are my chances?
The most frequent questions you see posted on blogs, forums and admission director interviews is "Should I apply to school X" and "What are my chances of getting into school X". The following are my thoughts in response to these questions.
Stating the obvious, the reason you apply to business school is to get in. So, given that getting into business school involves a massive investment of time, you might as well invest that time wisely. This for me, means targeting the schools you want to go to and ALSO have the best chance of getting into.
I have already commented on the application process and particularly the emphasis on variables you control i.e. essays and GMAT. However, the key drivers that get you into the top business schools are often those that you cannot change i.e. where you did your degree from, your undergraduate grades (GPA in US terms), family who are alumni and the organisation you work for. According to Sandy (in the BW forums) the "dirty little secret" for HBS and Stanford is the GPA, with the second factor being the organisation you work for, the third being your essay execution and fourth your age.
Do not be misled by the outpourings of the Admissions Directors as to its all about the "individual" and they are looking at your essays. If you do not have the metrics for the top US schools i.e top undergraduate university, high GPA, well known company and below 30 (preferably below 28) then you have not got "a snowball's chance in hell" (for those unfamiliar with this colloquialism the appropriate translation is "no chance"). They use the metrics to gauge whether the applicant is already successful and, in this case, "past performance will be a guide to future performance". The schools want successful alumni in order to maintain their reputations and alumni and fund raising networks ensuring a virtuous circle that keeps them "profitable" - business school is a business - never lose sight of this fact.
The only way around the metrics is to add to the diversity of the school, thereby improving the statistics. To do this you need a "special" angle e..g military, charitable, Non Govermental Organisation (NGO), medical. If no special angle, and even if you know your brilliant and would be perfect for the school, then, if the metrics do not fit, its unlikely, if not impossible.
So when you start the application process you make your wish list....... and I'm assuming the 4 schools listed in the title are on the list. The next step is to decide how "ambitious" is this application. So :
a) There is the "Hail Mary" where you apply and hope for the best - you know its a long shot but its like a lottery ticket, unless you buy a ticket you can't win;
b) there is the "Ambitious" where you know its a stretch but you have a chance; and
c) there is the "Competitive" where you have a good chance of getting in.
Once you rank your schools under these three heading then you factor this into the overall decision on where to apply.
Ultimately it boils down to whether you agree that logic suggests to get the best return you target the schools where you calculate you have the best chance. Alternatively, you take the Accipiter view and add a dose of emotion - and hope for the best.
"Life's a box of chocolates, Forrest. You never know what you're gonna get."
You have to do the best with what God gave you."
Forrest Gump (1994)
As usual, my standard disclaimer applies to all the above.
Stating the obvious, the reason you apply to business school is to get in. So, given that getting into business school involves a massive investment of time, you might as well invest that time wisely. This for me, means targeting the schools you want to go to and ALSO have the best chance of getting into.
I have already commented on the application process and particularly the emphasis on variables you control i.e. essays and GMAT. However, the key drivers that get you into the top business schools are often those that you cannot change i.e. where you did your degree from, your undergraduate grades (GPA in US terms), family who are alumni and the organisation you work for. According to Sandy (in the BW forums) the "dirty little secret" for HBS and Stanford is the GPA, with the second factor being the organisation you work for, the third being your essay execution and fourth your age.
Do not be misled by the outpourings of the Admissions Directors as to its all about the "individual" and they are looking at your essays. If you do not have the metrics for the top US schools i.e top undergraduate university, high GPA, well known company and below 30 (preferably below 28) then you have not got "a snowball's chance in hell" (for those unfamiliar with this colloquialism the appropriate translation is "no chance"). They use the metrics to gauge whether the applicant is already successful and, in this case, "past performance will be a guide to future performance". The schools want successful alumni in order to maintain their reputations and alumni and fund raising networks ensuring a virtuous circle that keeps them "profitable" - business school is a business - never lose sight of this fact.
The only way around the metrics is to add to the diversity of the school, thereby improving the statistics. To do this you need a "special" angle e..g military, charitable, Non Govermental Organisation (NGO), medical. If no special angle, and even if you know your brilliant and would be perfect for the school, then, if the metrics do not fit, its unlikely, if not impossible.
So when you start the application process you make your wish list....... and I'm assuming the 4 schools listed in the title are on the list. The next step is to decide how "ambitious" is this application. So :
a) There is the "Hail Mary" where you apply and hope for the best - you know its a long shot but its like a lottery ticket, unless you buy a ticket you can't win;
b) there is the "Ambitious" where you know its a stretch but you have a chance; and
c) there is the "Competitive" where you have a good chance of getting in.
Once you rank your schools under these three heading then you factor this into the overall decision on where to apply.
Ultimately it boils down to whether you agree that logic suggests to get the best return you target the schools where you calculate you have the best chance. Alternatively, you take the Accipiter view and add a dose of emotion - and hope for the best.
"Life's a box of chocolates, Forrest. You never know what you're gonna get."
You have to do the best with what God gave you."
Forrest Gump (1994)
As usual, my standard disclaimer applies to all the above.
INSEAD and Diversity
INSEAD makes a great play of having the most diverse class of students amongst all the top business schools. Based on my pre-starting experience this strap line is, to use an Americanism, "right on the money".
Here are some class (December 2008) statistics :
Here are some class (December 2008) statistics :
- Presently 59 nationalities;
- Students from 6 Continents;
- Some of the Industries within the class: Aerospace, Architecture, Biotechnology, Charity, Crisis Management, Financial Services, IT, Law, MC, Manufacturing, Public Affairs, Retail and Travel and Tourism.
The above only hints at the diversity. The real diversity lies in the range of experiences that each individual brings with them and this manifests itself in their interests, opinions, approach to problems and view of life. Having had the pleasure of meeting some of my class, I can happily confirm this.
It does seem strange that one can meet a group of strangers and because of one commonality have so much to share. Even at the most basic level there has been an openess to help each other in dealing with the various logisitical problems that all of us face. There are countless meet ups, whether for drinks, picnics or meals, being organised across various continents. People are leaving their jobs to travel and are arranging to meet up with classmates on their travels. There are daily messages on the INSEAD intranet (NV) updating plans or creating new plans. The energy displayed is inspiring and you want to get started at class now.
Perhaps this is an insight as to why "we" all chose INSEAD and why you hear such positive views about the alumni network.
Wednesday 26 September 2007
Blogging......
As my devoted reader will see, my blogging has, at best, been infrequent. I could make a number of excuses e.g. busy at work, trying to organise myself for INSEAD, meeting future classmates. However, the reality is that I am both lazy and uninspired.
Lazy is, hopefully, self explanatory. I would much rather amuse myself through a myriad of different media or distract myself though endless musings about the future rather than actually do something practical. However, as a caveat, if I enjoy something I tend to be quite energetic.
Uninspired? This is, on reflection, an unexpected discovery. Normally I have an opinion about everything and am more than happy to share this with anyone. Therefore, the opportunity to spout forth about anything I like would seem to be an ideal role for me. However, I have found coming up with topics/experiences to blog about very challenging. Why? Well, I have found there is a surprisingly large amount of effort in maintaining my anonymity both for the present and the future and this restricts the events/items that I can write about. This is proving a challenge that I am having difficulty in overcoming.
As with most things in life, I am going to give this a go and see what happens.
Lazy is, hopefully, self explanatory. I would much rather amuse myself through a myriad of different media or distract myself though endless musings about the future rather than actually do something practical. However, as a caveat, if I enjoy something I tend to be quite energetic.
Uninspired? This is, on reflection, an unexpected discovery. Normally I have an opinion about everything and am more than happy to share this with anyone. Therefore, the opportunity to spout forth about anything I like would seem to be an ideal role for me. However, I have found coming up with topics/experiences to blog about very challenging. Why? Well, I have found there is a surprisingly large amount of effort in maintaining my anonymity both for the present and the future and this restricts the events/items that I can write about. This is proving a challenge that I am having difficulty in overcoming.
As with most things in life, I am going to give this a go and see what happens.
Tuesday 11 September 2007
Once more unto the breach, dear friends, once more.....
Getting into Insead was a challenge that required countless hours of work, reviews, research, frustration, perseverance (not necessarily in that order) and luck.
Hopefully, in order to lessen the "admissions" related pains of the dear, benighted souls who read my ravings, I have summarised my advice below. Now, given my preference for gliding along on the warm air of success, I'm going to practice my management skills and delegate upwards.
I therefore suggest, dear reader, that you read the Insead MBA website thoroughly (for convenience, and by no means an attempt to insult your intelligence, the link is http://www.insead.edu/mba). This should be supplemented with this posting on my fellow future classmate's blog "Nomad" http://nomad-insead.blogspot.com/2007/08/how-to-get-into-insead_29.html. This is about as honest an analysis as you will get. Another useful blog is that of "Necromonger" (see top of page and the Admissions link on the left hand side of Necromonger's page).
However, in my experience, "management" do like to add their "voice of experience" (note I did not advise as to the standard of the aforementioned "management") and so I shall, reluctantly, follow suit.
You should note that the following is, and remains, only my opinion and should not in any way taken as constituting formal advice (yes I have dealt with lawyers). Furthermore, this is only based on my experience and through talking to fellow admits and alumni.
GMAT
This is purely a marker to see if you meet a basic standard in English and Numeracy. My belief is that you should aim to get a score of 700 or more. Why 700? Well, its purely a personal feeling that this crosses a psychological barrier and helps tick a mental box for the Admissions Officers.
It helps if the score is balanced i.e. not a strong numerical (above 90%) weak verbal (below 70%) or vice versa. Also, if your score is near 700 and balanced, I suggest that you accept the score and concentrate your efforts on the rest of the application. Insead itself does not stipulate a score but the majority of people I have met/spoken to/read advise that anything above 650 puts you into play.
In terms of how to prepare for GMAT, just do as many questions and tests as possible. It is that simple.
(ps personally, unlike Nomad, I would not ignore the essays - but its your choice.)
Essays
The key to making you a competitive candidate is the quality of your essays. You can obtain plenty of information about essay writing for MBAs from the internet and so, rather than waste your time attempting (and failing) to summarise the work of others, I shall make three observations.
a) make it personal (i.e. something that only you could write relating to your experience and your view of your experience - not generic waffle that anyone could write);
b) make it active (i.e. use examples that demonstrate what you did - do not just say this happened - try to explain your thoughts and the actions they triggered and the results achieved); and
c) make it pertinent (i.e. focus on the mantras of the school and demonstrate your fit to the school's goals though your essays).
Interviews
The interview is an opportunity for Insead to discover whether alumni would want you to be a fellow classmate and a fellow alumni. The "alumni" may not get you in but they can keep you out.
So, follow the rules of any interview and take onboard the advice offered by Nomad and Necromonger.
Anything else?
Finally, by reading this far, I believe I can assume that you have done your research and you know what Insead "specialises" in and, far more importantly, that you feel you will "fit" Insead.
The above may sound like emotional drivel, but if you are not committed the chances are that the Admissions Officers will see through the application......
In peace there's nothing so becomes a man,
As modest stillness and humility;
But when the blast of war blows in our ears,
Then imitate the action of the tiger:
Stiffen the sinews, summon up the blood.
Follow your spirit, and upon this charge....
(Shakespeare Henry V Part III)
Hopefully, in order to lessen the "admissions" related pains of the dear, benighted souls who read my ravings, I have summarised my advice below. Now, given my preference for gliding along on the warm air of success, I'm going to practice my management skills and delegate upwards.
I therefore suggest, dear reader, that you read the Insead MBA website thoroughly (for convenience, and by no means an attempt to insult your intelligence, the link is http://www.insead.edu/mba). This should be supplemented with this posting on my fellow future classmate's blog "Nomad" http://nomad-insead.blogspot.com/2007/08/how-to-get-into-insead_29.html. This is about as honest an analysis as you will get. Another useful blog is that of "Necromonger" (see top of page and the Admissions link on the left hand side of Necromonger's page).
However, in my experience, "management" do like to add their "voice of experience" (note I did not advise as to the standard of the aforementioned "management") and so I shall, reluctantly, follow suit.
You should note that the following is, and remains, only my opinion and should not in any way taken as constituting formal advice (yes I have dealt with lawyers). Furthermore, this is only based on my experience and through talking to fellow admits and alumni.
GMAT
This is purely a marker to see if you meet a basic standard in English and Numeracy. My belief is that you should aim to get a score of 700 or more. Why 700? Well, its purely a personal feeling that this crosses a psychological barrier and helps tick a mental box for the Admissions Officers.
It helps if the score is balanced i.e. not a strong numerical (above 90%) weak verbal (below 70%) or vice versa. Also, if your score is near 700 and balanced, I suggest that you accept the score and concentrate your efforts on the rest of the application. Insead itself does not stipulate a score but the majority of people I have met/spoken to/read advise that anything above 650 puts you into play.
In terms of how to prepare for GMAT, just do as many questions and tests as possible. It is that simple.
(ps personally, unlike Nomad, I would not ignore the essays - but its your choice.)
Essays
The key to making you a competitive candidate is the quality of your essays. You can obtain plenty of information about essay writing for MBAs from the internet and so, rather than waste your time attempting (and failing) to summarise the work of others, I shall make three observations.
a) make it personal (i.e. something that only you could write relating to your experience and your view of your experience - not generic waffle that anyone could write);
b) make it active (i.e. use examples that demonstrate what you did - do not just say this happened - try to explain your thoughts and the actions they triggered and the results achieved); and
c) make it pertinent (i.e. focus on the mantras of the school and demonstrate your fit to the school's goals though your essays).
Interviews
The interview is an opportunity for Insead to discover whether alumni would want you to be a fellow classmate and a fellow alumni. The "alumni" may not get you in but they can keep you out.
So, follow the rules of any interview and take onboard the advice offered by Nomad and Necromonger.
Anything else?
Finally, by reading this far, I believe I can assume that you have done your research and you know what Insead "specialises" in and, far more importantly, that you feel you will "fit" Insead.
The above may sound like emotional drivel, but if you are not committed the chances are that the Admissions Officers will see through the application......
In peace there's nothing so becomes a man,
As modest stillness and humility;
But when the blast of war blows in our ears,
Then imitate the action of the tiger:
Stiffen the sinews, summon up the blood.
Follow your spirit, and upon this charge....
(Shakespeare Henry V Part III)
An apology....
Well I'm back and I better start with an apology.
My apology is to all Insead bloggers whom I thought should have updated their blogs more often. This despite reading numerous July '08 blogs (particular thanks to Halloman) and realising that the moniker for Insead could well be "sleep is for wimps, as is breakfast and lunch or any other meal". Judging from the missives of Res I(p)sa, Necromonger et al, time is an almost extinct specie at Insead.
Additionally, and perhaps a tinge shamefacedly, I look in the calendar to find that it been about 2 weeks since I updated this blog. This despite not having to relocate, actually attend any classes, meet new flat/chateaux mates, network, study, sleep or party.
I have been reminded that humble pie is a dish best served with a hint of irony and a dose of self awareness.
So my sincere apologies to all Dec '08 bloggers.
My apology is to all Insead bloggers whom I thought should have updated their blogs more often. This despite reading numerous July '08 blogs (particular thanks to Halloman) and realising that the moniker for Insead could well be "sleep is for wimps, as is breakfast and lunch or any other meal". Judging from the missives of Res I(p)sa, Necromonger et al, time is an almost extinct specie at Insead.
Additionally, and perhaps a tinge shamefacedly, I look in the calendar to find that it been about 2 weeks since I updated this blog. This despite not having to relocate, actually attend any classes, meet new flat/chateaux mates, network, study, sleep or party.
I have been reminded that humble pie is a dish best served with a hint of irony and a dose of self awareness.
So my sincere apologies to all Dec '08 bloggers.
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