Waiting for the Break

Spring break is right around the corner, so this week is a little rough: 3 midterms and 2 papers in 4 days! But at least we have something to look forward to.

A lot of people are going on various club-organized treks in a couple of days: Thailand, Chile, South Africa, Japan, Peru, Cambodia… Unfortunately, I’m not one of them! I had other plans, which actually fell through at the last minute, so it looks like I’ll be in New York over the break. I feel bad about missing out on all of the fun, but I don’t really mind staying in the city, either—there are so many things I’ve been meaning to do, and haven’t had time for. Can you actually believe that I still haven’t walked the Brooklyn Bridge? This will be my opportunity to catch up on the touristy activities!

Now I just have to get through the rest of the week.

Countdown to Spring Break!

Greetings friends!

It’s been a busy time since last we spoke. I have two half semester classes coming to an end on March 27th. It’s great to take half semester classes because your class load is lighter for the second half of the semester (at least in my case) and you can take classes with many professors. However, I am completely distracted as Spring Break starts on Friday! I am headed to South Africa with the Association of Hispanic and Black Business Students and Stern in Africa. Every year, on-campus clubs plan Spring Break treks. Some have a recruiting focus if students want to work abroad. Others are centered around service as with the Social Enterprise Association’s trek. Others are purely social (which is the kind of trek that I prefer). Last year, I traveled to three cities in Brazil –Salvador, Iguazu Falls, and Rio de Janeiro–for the Latin American Business Association’s trek. This year, I am traveling to Cape Town and Johannesburg with 45 Sternies! I look forward to sharing my experience with you in my next blog post!

Until next time,
Jennie

Strategy Forum & A Film Screening

Last Thursday I went to the “Strategy Forum: Achieving Strategic Advantage Through Innovation,” organized by the Strategy & Operations Club, and the Management Consulting Association at Stern. The keynote speaker was Mumtaz Ahmed, Chief Strategy Officer of Deloitte Touche Tohmatsu, and a Principal at Deloitte Consulting. He talked about what sets exceptional companies apart from others, and how to achieve sustained competitive advantage (being in the top decile for 10 years, so that it’s not a coincidence). According to him, the three rules are as follows: 1) better before cheaper; 2) revenue before cost; 3) there are no other rules. It was all based on data and analyses that Deloitte has gathered over many years, and I thought some of the conclusions were unexpected: for instance, according to the data, there is no evidence that innovation is a key driver of exceptional performance. It was interesting to hear what he had to say.

Then on Friday, as part of “research” for my Stern Consulting Corps project, I attended a screening of the film Stoker (great film), followed by a Q&A session with director Chan-wook Park, and stars Mia Wasikowska and Matthew Goode. It was a room of roughly 70 people, so it was relatively intimate, and I was starstruck the whole time. I don’t want to divulge the content, but all three of them were really nice, and Matthew Goode was hilarious.
This, of course, was followed by a 2.5-hour client meeting; after which I had to rush to make it to one of the biggest Stern events of the year: Think Social, Drink Local, or simply TSDL. It’s an annual runway fashion show (featuring MBA students & Stern administration wearing fashion from top NYC designers!) and dance party, all rolled into one big event in a gorgeous venue. I’m sure one of my fellow bloggers will cover TSDL this week, so in the spirit of avoiding redundancy, I will leave it at that. I will say it was an amazing night though—and a great way to start the weekend!

Being a Sternie

Hi All,

My name is Ashrae, and I am a first year student at Stern. I am really excited about sharing my experiences with all of you through this blog.

Let me start by giving you a brief background about myself. Prior to business school I worked as a Management Consultant in India. To move ahead in the industry I felt I needed to learn Finance, the language of business, and there was no better place than Stern to do it. I am a complete foodie and that was one of the things that really attracted me to New York. At Stern, I am specializing in Finance and Strategy. I am on the board of the Management Consulting Association, SCorp (our student government) and the South Asia Business Association.

It has been a good start to the Spring semester. I am off to Vermont next weekend on a Ski trip with my block. It is my first time skiing – one thing off my ‘Things to do before I die’ list. Also, I am leading the Spring Break trek to India in a couple of weeks. I can’t wait to visit India with a bunch of Sternies. On the downside, I have mid-terms to cope with in the middle of all this. One of the best things about being in a community as collaborative as Stern is that even exam time is enjoyable and engaging.

Time to get back to books. Stay tuned for more.

Until next time,

Ashrae

Real time learning

Greetings friends!

One thing that I appreciate about Stern is how the professors incorporate what is going on in the market to their lessons. Earlier this week, I had a case discussion on Groupon in my Promotional Marketing class. We discussed how Groupon was initially successful but with many competitors imitating the same strategy, we doubted how long the company would be able to thrive. My Promotional Marketing professor, Professor Mickey Goodman, emailed the class this morning after Andrew Mason, the founder and CEO of Groupon, was fired yesterday. I’m looking forward to my next class meeting so that we can discuss how the company will continue now that the founder has exited.

In other news, I’m looking forward to Think Social, Drink Local (TSDL) tonight. My fellow blogger Kristin did a great job of describing it here. I had a great time last year and am looking forward to seeing a few close friends walk in the show. I’ll report back next week with highlights. But before I head off to TSDL, I’m off to a happy hour reunion for my DBI Singapore class. Every minute is jammed pack here at Stern!

Until next time,
Jennie

Last Set of Classes

Hello again, everybody, welcome back. So I’ve talked a lot so far about extracurriculars, recruiting, etc, but one thing I haven’t done to a great degree is talk about my classwork, which is likely relevant to an audience of future grad students. So I’ll go briefly into the six classes I’m taking this semester, as they will be the last six accredited classes I will likely ever take.

Advanced Strategy – Tools, Professor Sonia Marciano
This is the main follow-up class to the core strategy class that almost all MBA1s take. It’s almost entirely filled with MBA2s, many of whom are taking Professor Marciano for the second time. The class uses cases as the basis for discussion, and focuses on the process of strategic analysis and strategic planning. So far, we have gotten deep into industry analyses, resource alignment, global strategies, and competitor analysis. The class has been intellectually challenging and never boring. This class also features some really great guest speakers. Some of our speakers this semester include a Vice President of Content Acquisition at Time Warner Cable, a Deputy Director of the Federal Trade Commission’s Bureau of Economics, the President of Career Builders International, and a few more.

Competitive Strategy in the Marketplace, Professor John Czepiel
This class is a bit of a hidden gem within the Marketing department. It is designed to be a really practical class that gets students to perform deep strategic analyses and provide tangible, insightful recommendations. The structure of the class is as follows. On the first day of class, students form teams and choose one of 11 cases to analyze for the rest of the class. For the first few weeks, the class is lecture driven, and gets to the main content of the course. Meanwhile, groups are working together to put together a series of recommendations for the client they chose. The clients are frozen in time – all data to be used is from the case that the group chose to work on. Starting in early April, students in groups of five or six begin giving presentations, and for each group that presents, another group has been assigned to basically act as their “bosses” – they know the case, and they’re responsible for asking tough questions of the presentation. Having come from a consulting background, I would say that this course really effectively simulates what it’s like to work on a client project and then present that information to clients. The expectation of rigor is extremely high, and students are held accountable to own their recommendations, like they would on the job.

Business Law for Managers, Professor Richard Hendler
Professor Hendler is as unique and interesting a professor as any I’ve ever had. Each day of class generally starts with an open forum where we can ask whatever legal questions we like. Some things that have come up have been landlord/tenant disputes, foreign speeding tickets, and some other things my classmates have been dealing with. Professor Hendler will use these questions as a way of conveying an interesting legal concept, or even giving general tips. Yesterday, we learned how to be found not guilty of a traffic violation in New York City. I wish I had taken better notes on that. After a little time in this open forum, we learn about some of the big legal issues that managers may face, or that we as individuals could come across in dealing with businesses. The class is really interactive, full of Professor Hendler’s bizarre true stories of situations he’s dealt with, and often features candy and/or pizza.

Conflict, Collaboration and Negotiation, Professor Seth Freeman
I’m a bit late to take this class, as it’s one of the classes that Summer Start students take in advance of the first semester. This is another really interactive, hands-on class where you learn more by doing than any other way. The class is taught as six three-hour blocks for 1.5 credits, and we’ve done at least one negotiation simulation in each class so far. After each negotiation, we debrief as a class and talk about the different strategies we each used to get the outcomes we did, be they better or worse than our classmates.

The Performing Manager, Professor Patricia Bower
Professor Bower is really a performer at heart, and this class is the closest thing I’ve ever taken to an acting class. The class is extremely interactive. How interactive, you ask? Well, we spent a majority of the day on our feet, doing mirroring exercises, moving our bodies around, and actually giving speeches in front of our classmates. If you get anxious about presenting, which many people do, this class provides a great way of breaking out of your shell and learning to feel confident in your presentation skills.

Investment Strategies, Professor Richard Bernstein
This class actually takes place during the second half of the semester, so it has not yet started. Therefore, I really don’t know much about it, other than the course description. So here’s the course description:
“This course is a subjective approach to security analysis. Topics include industry selection, market timing, and interpretation of market history and cycles. Illustrations range from applications of the Dow theory to interest rate analysis to contrary opinion theories. The goal is to blend current market, political, and economic factors in with standard firm financial data to make better investment decisions.”
Sounds cool, right?

So that’s how I’m spending my last 13.5 credits at Stern. I’m doing a mix of strategy, finance, law, and communication classes. This is all made possible by the flexibility of the Stern curriculum. Since I’m not required to specialize in anything, I can get as broad or as narrow an education as I want. I’ve decided to go broad with mine, and I’m thrilled to be learning so much about so many different topics.

Consulting Corps Squared

It’s the fourth week of classes. How did we get here? It may seem like a cliché to say that time flies by in business school, but it’s no exaggeration. Somehow, I’m back in a place where finding even 30 minutes of free time in a given week can be a challenge. If you’re anything like me, you enjoy, and dare I say, even thrive off of this kind of hectic lifestyle. Many students at Stern will openly admit that they over commit. However, I’d like to see this level of involvement as a tradeoff. I’ve traded sleep and relaxation for two years where my life is dominated by FOMO (fear of missing out). For this reason, I’ve taken on two consulting projects in addition to my usual club activities and alumni volunteering.

The first project I’m working on is part of the Stern Consulting Corps (SCC). We are working with NYU’s Langone Medical Center to help their Department of Integrated Health develop a workable business model. Although my team has yet to delve into the details, I’ve already learned a tremendous amount. While the healthcare industry in the US is obviously fraught with woes, this project in particular has brought to light the disconnect that exists among between medicine, patients, and business.  The goals of the department are admirable and I truly believe our partners are some of the best-intentioned. However, it is clear they are seeking guidance and support to become self-sustaining. Over the next 8 weeks, it will be interesting to see how our group is able to answer some of the departments’ more trying questions. The prospect of making an impact at a world-class health facility is exciting and I look forward to sharing our results!

As if the ten hour per week time commitment from the SCC project wasn’t enough, I have also signed on board to work with Gilt Groupe, specifically with Gilt City as part of the Luxury and Retail Consulting Corps. While the Langone project is one of personal fulfillment, my motivation for this project is purely professional. As I look to enter a career in retail, I am thrilled to gain insight from one of the leaders in e-commerce and email marketing. I am hoping that this project is the perfect fusion of my minor technical background and my newly acquired analytical skills from Stern. Regardless, it will undoubtedly be an amazing experience to work with a company that is growing so quickly, yet still able to maintain its entrepreneurial spirit.

I can’t wait to contrast the two consulting roles!

Already March?

This weekend is one of our bigger Spring events, TSDL (Think Social, Drink Local). TSDL is a runway fashion show and dance party,  held at the Angel Orensanz Foundation in NYC. Basically, our classmates and Stern administration model fashionable outfits from top NYC designers. Sponsors include Absolut Vodka, Brooklyn Brewery, Brooks Brothers, DKNY, etc. and proceeds go to support the Social Impact Internship Fund, which provides a financial stipend  for students who spend their summers working for often unpaid non-profit and social impact-based businesses.

I’m excited for this event and another exciting thing coming up, Spring Break! Every year, Stern’s community clubs organize different treks for students to join, or students can organize their own informal treks. This year, students were able to pick between Thailand, India, South Africa, Vietnam & Cambodia, Ecuador, Japan, and more (a lot of times, the students who choose to go on these treks are first year students since it’s a great way to meet new people)! As second year students, a bunch of us are going to Tulum and Playa del Carmen in Mexico. I’m very excited to relax on the beach (and do nothing but read and eat) for my last spring break ever (sad!).

On the class front, things are going well. We just settled on a project topic for our Customer Insights class, which is essentially all about conducting effective marketing research. We decided to do our project on Apple iWatch. According to this article, Apple plans to launch this wearable, smartphone watch soon. Our job as market researchers is to not only figure out who the target consumer is, but how to make it a successful launch. To make it successful, we must answer questions like why the category for traditional watches has been declining, whether there is even a need for a smartphone-type watch amongst the target demographic, and if there is one, what features our target consumer would have a willingness to pay for. This launch is a hot topic in the news, and seeing how innovative Apple has been, it will be interesting to see whether the company is moving in the right direction or not with this new idea.

That’s it for this week – until next time…..

Think Social Drink Local

Happy weekend! It’s Thursday and that is technically the start of the weekend for most Sternies. We do not have classes on Friday and Thursday nights at beer blast is where everyone tends to let off a little steam from the week. On tap for this weekend is one of my favorite Stern events, “Think Social Drink Local” (more lovingly known in these halls as TSDL)!

The Social Enterprise Association and the Luxury & Retail Club are co-hosting the 8th Annual TSDL event, a fundraiser, runway fashion show featuring Stern students and essentially an all-out awesome party. Students and administrators strut their stuff on the runway while the rest of us non-models enjoy food and beverages from some fabulous NY establishments such as Murray’s Cheese, Brooklyn Brewery, The NY Distilling Co. and so many more. Proceeds from the event support NYU Stern’s Social Impact Internship Fund which provides funding for Stern MBA students who spend their summers working for non-profit and social impact-based businesses. This year’s theme, I Love New York, focuses on New York-based designers and locally produced food and beverage offerings. The event highlights the economic impact of locally-minded consumption and the importance of small businesses to a thriving local community.

This is by far one of the best parties of the year and also supports a great cause. Check out the video here to see highlights from last year’s event!

 

The Performing Manager

Greetings Friends!

I wanted to tell you about a class that I just started today. It’s called The Performing Manager. Per the course catalog, “Effective managers must motivate and inspire others to follow their ‘lead.’ This course will explore the seemingly elusive quality often referred to as personal charisma – that hard to pinpoint ability to not only set a clear direction, but communicate the energy and passion to forcefully engage others in a process.” I have read many articles that cite MBAs’ inability to effectively communicate and give presentations. Stern has a great variety of Management Communications courses that build on the soft skills that are necessary to be an effective leader.

The Performing Manager is a three-day intensive course that meets over three Fridays. What I really enjoy about this class is how it draws upon acting, performing and other arts to become a confident, charismatic and passionate speaker. So far, we have done exercises in mirroring, actively listening, and understanding non-verbal body cues. Through this course and Management Communications, a class I took last semester, I have gotten over the anxiety of speaking in public and have become a better presenter. I am pursuing a career in brand management after graduation and giving presentations and getting buy-in from groups is an essential part of the job. These courses are specifically preparing me for success in my career.

Until next time!
Jennie