An Invitation to join the Otago Full-time MBA or Diploma Programme

We welcome the opportunity to discuss your future in our diploma and full-time MBA programmes.   

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How we select MBA candidates: part three

Otago Full-Time MBA        or        Diploma-to-MBA option!

I have previously described our ideal MBA candidate and explained how our selection process works with the intention of enabling aspiring MBAs to perform well.  To reiterate, we evaluate the whole person with attention given to the individual's maturity, character, experience; conceptual reasoning abilities, potential to contribute to our programme and career ambitions.  It's not just about a GMAT score (see observations). We employ a selection process aimed at getting to know you as a person and evaluating the fit between you and our programme: we're highly selective and strive to admit candidates who will perform well.

Not all MBA candidates come to us with the same needs, so here I describe the
options available to candidates for pursuing an Otago MBA: e.g., the Otago full-time MBA
versus Diploma-to-MBA option.

Option One: Many students choose our traditional full-time MBA programme involving nine-months of on-campus core courses; followed by an additional three on-campus electives us or international exchange + a mentored consulting project.  This option offers the student the fastest route to the MBA degree.

Entry requirements for our full-time programme are as follows: (1) undergraduate degree or better; (2) minimum of three years relevant work experience; (3) suitable Graduate Management Admissions Test (GMAT) score (see Observations on the GMAT); and (4) an English language proficiency equivalent to an IELTS score of at least 6.5.

 or

Option Two: Other candidates choose to start their education at the Otago MBA through our diploma programme. Students selecting this option participate in exactly the same core courses and work alongside full-time students, but this option allows the individual to ease into the MBA and prove him or herself before committing to the full MBA programme.  

The advantages of this option are that: (1) the Diploma can be pursued either part time or full time; (2) candidates do not need to sit for the GMAT; (3) after completing six core papers with an acceptable performance, the student may choose to pursue the Otago MBA; and (4) an exit option exists for those who want the University of Otago, Diploma in Business Administration as their terminal degree.

Entry requirements for our Diploma programme are as follows: (1) undergraduate degree or better; (2) minimum of three years relevant work experience; and (3) an English language proficiency equivalent to an IELTS score of at least 6.5.

Choose the option right for you.

David

Why Student Candidates Choose the Otago MBA

New Zealand Adventure

An accepted premise exists concerning why International students choose the Otago MBA.  They either want to experience New Zealand or contemplate remaining in New Zealand after graduation.  A significant number of our students choose to apply for a Graduate Job Search Visa and secure employment in NZ upon completion of our Otago MBA programme: see immigration to NZ below.

We receive the usual responses to our inquiries of student candidates: "Why have you chosen the Otago MBA?"  Some students focus on our global perspective, diversity of students or location in the booming Asia/Pacific region.  We are indeed fortunate to enjoy cultural diversity both in and outside of the classroom.  Others point to our reputation (oldest and only full-time MBA in NZ), the respect our programme enjoys internationally, and the University of Otago's research focus: we're not just a teaching school.

Most candidates appreciate our small class size, personal attention, one-to-one relationships with our educators, emphasis on practical (real business) experiences in the classroom, as well as the desire to know each candidate well in our admissions process.  They describe us as like a family and point to the camaraderie among our students, networking opportunities, as well as our mentor and professional development programmes.  "We enhance career prospects."  Our student candidates recognize that we deliver distinctive value at a reasonable price relative to our competitors.

Still, candidates who choose us almost universally express their desire to study in New Zealand.  "I'm a nature loving guy," they say, or "I'm adventurous."  New Zealand is beautiful, peaceful, and they care about carbon emissions and the environment.  They have beaches and mountains (the Southern Alps), and Dunedin is a college town.  It's an English-speaking country, with a stable economy, entrepreneurial opportunities, and the people are friendly.  I want to try something new, push my boundaries, meet people from diverse cultures, and try outdoor/adventure activities.

A few student candidates express the feeling many may harbor: "I see this as a life changing opportunity," "I want to live in New Zealand," and "I would like to retire in New Zealand."

The Otago MBA's unique competitive advantage may be the opportunity to receive

a world class education in one of the most spectacular places on the planet.  You decide: come

for an education and maybe stay for a lifetime.

David

Immigration to New Zealand:  New Zealand Immigration does not permit the Otago MBA to advise students about matters related to securing residency in the country.  Any candidate interested in pursuing his or her career in NZ should investigate this issue directly through NZ Immigration.

Observations on the GMAT

GMAT - a summary statistic of questionable
validity and fairness.

The Graduate Management Admissions Test (GMAT) remains a necessary accouterment in MBA circles with admission to many of the top schools requiring a score on 650 or even 700. Stanford students averaged 729, with Harvard, New York University and the University of Chicago all averaging 720+.

We asked the question, "What do we know about GMAT scores," and turned to the Graduate Management Admission Council's own data for answers.  Each year the Council publishes a Profile of Graduate Management Admission Test Candidates (available online), explicitly pitched to universities as a way to "market your program more effectively,"  a form of bragging rights of sorts.  We offer the following observations for the most recent year, 2012-2013:

Two hundred, thirty eight thousand (238K) student candidates took the test in 2012-2013, 49K fewer than the previous year.

Only 121K (51%) of these students expressed an interest in pursuing an MBA; the total MBA student market is much larger.

Eighty-five percent on these students were under the age of thirty years.  Almost 90% of women taking the GMAT were under the age of thirty. 

The highest test scores (by age category) were posted by students of less than twenty years of age: kids.  Males of this age averaged 604, while females averaged 597 (though this demographic accounted for only 0.6 % of test takers).

Test scores drop precipitously for both males and females: i.e., inversely correlated with age and presumably attributes associated with age, such as experience, maturity and wisdom.  Females: age 20-21 (avg. 572); 24-25 (528); 31-34 (504); 40-49 (449)

The number of woman sitting for the GMAT dropped precipitously after the age of 23 years: age 22-23 (N=27K); 24-25 (17K); 26-27 (12K); ... 31-34 (6K).

Women over the age of 21 years averaged less than a 550 score and would likely be excluded from many top MBA programmes.

Women consistently posted lower average test scores within age categories, oftentimes with meaningful differences (e.g., age 26-27: male avg. 571 vs. female avg. 533).

Males and females over the age of forty years posted average scores of less than 500.

Three countries, the U.S., India and China, accounted for 71% of all GMAT tests taken in the world, with the U.S. accounting for over 90K test takers.  India (577) and China (582) significantly outperformed the U.S. (532) on average.

The highest average GMAT scores were posted in Singapore (605) and New Zealand (608), though these nations benefit from a small-N advantage.

We conclude that the GMAT may favor younger test takers; measure the individual's test-taking ability (i.e., a recency effect); disadvantage women and individuals with greater experience (seasoned professionals); and remains a largely U.S. convention taken elsewhere by students hoping to study in the U.S.  Much of the world may not value this summary statistic of a person's ability in the MBA classroom or potential to become a global business leader. We're reevaluating the weight we place on GMAT in our selection processes.

The GMAT reminds me of a popular U.S. reality television show, 

"Are you smarter than a 5th grader?"

David

Top 100 MBA Ranking: what do they mean anymore?

The Top FT Global MBA 2014 rankings are out and Harvard tops the list, followed by the perennial cast of characters: Stanford, London Business School, Wharton, and Columbia. And, just a week ago The Economist ran a story, "Build it and they will come," documenting the excesses of top MBA programmes. Here's an except:

"Business school students are a pampered bunch. Scholars sipping a glass of red in the posh rooftop bar of Oxford’s Saïd Business School could be forgiven for thinking they had wandered into the nearby Randolph Hotel by mistake. Stanford students can view an impressive modern-art collection housed in its own museum. Harvard Business School MBAs can book a masseuse to relieve the stress of a hard day slaving over case studies.

Life for the next generation of business students is to get even cushier. In the past few years the leading schools have been raising vast amounts to spend on new facilities. On January 9th Yale’s School of Management formally opened its swanky new home, designed by Foster + Partners, Norman Foster’s architecture practice. The Kellogg School of Management in Illinois will soon start work on a new headquarters for its MBA programme on the shores of Lake Michigan, at a cost of $200m. Stanford’s business school spent $345m on its new campus, largely thanks to the largesse of Phil Knight, the founder of Nike.

The biggest project, at least in terms of cost, is under way in New York. Columbia Business School is within touching distance of raising the $600m it needs to complete a new campus in West Harlem. From Cambridge, MA, to Cambridge, UK, an arms race is under way to provide MBAs with the plushest place to study."

Questions arise about how these investments enhance the quality of education MBA students receive; the (perhaps distorted) expectations of graduates from these programs; whether these graduates make good colleagues; and what it takes to rank in the top 100.

The lasting influences of FT and Economist Top MBA rankings may be that they have turned graduate management education into big business in which scale (size) and "name" matter more than the individual; produced far too many "me too" programmes that mimic the top 100, but with fewer resources and more mediocre results; and distracted educators from delivering a transformational experience to students.

The Financial Times ran another article, "The Future of European MBA's," predicting the retrenchment (failure) of many MBA programmes and a return to relevance and rigor.  So, how do we reconcile the mixed messages from ranking organizations and how much weight should we give to these summary statistics of questionable validity?

The Otago MBA management team made the decision long ago to design a fully-integrated

programme that delivers best value to our students and not compete head-to-head

with large scale "name" programmes.

David

The 540 Professional Consulting Engagement: Melissa Barry

The Product-Market Fit

Melissa Barry is another outstanding student from our MBA 37 class, a talented and accomplished

individual who has earned the respect and admiration of our entire Otago MBA family.

Melissa came into our Otago MBA with a PhD in neuroscience and little experience in business: she learned quickly and won our David S Wright Memorial Prize for the highest level of academic improvement in the 2013 class.  Now, she has selected a global high-tech 540 client, an industry-leading company well-aligned with her background in medial sciences, as well as her career ambition of working in a business strategy / market analysis position for a technology systems company. 

Melissa's background in science has placed her in an advantageous position to perform well in her 540 consulting engagement: she possesses refined conceptual reasoning and writing abilities.  Melissa submitted an acceptable project proposal in the first draft (an uncommon accomplishment) and her project included complexities which deserve discussion here.

As Melissa quickly identified, this project is a product-market analysis (the two central concepts of her project), with both the product and market requiring precise definitions based on her data analyses.  The complexities arise owing to the nature of the company and market. For instance, the product deals with the cutting edge of science and science ultimately wins. So, the needs and desires of customers may not fully matter, if science says that the future of the market (and product) requires her client to move in a particular direction: i.e, remaining on the cutting edge of knowledge. 

The client's strategy will also influence the direction they go with this product.  Melissa's client is positioned as the top-of-the-line, technological leader in the industry and will need to offer the best product available regardless of whether it fits all customers.  The company's commitment to customer service may play an important role in bridging the gap between "what the client's product can do" and what less intellectually advanced customers are prepared to do. Other customers may not be able to financially keep up and thereby not constitute a viable market for Melissa's client. 

This last issue raises questions about what a market rollout of the product should look like. While, an initial definition of the intended geographic market may emphasize size and profitability, Melissa will need to assess whether all markets are equal.  Some geographic markets may be easier to penetrate than others based on factors that make them more receptive, progressive or influential in driving future sales. 

This point raises questions pertaining to Melissa's methods and particularly the data used in her analyses: she may not be able to rely solely on data from the within the client's organization (i.e., data that capture the current situation).  If the project involves forecasting trends, then Melissa will need to gather interview data from industry experts (or thought leaders) concerning projected trends in the client's science technology, as well as the attractiveness of target markets.

I would like to emphasize that Melissa Barry is off to a fantastic start with her 540 Professional Consulting Engagement. Her experience in our programme (repositioning her career) and her 540 project (well aligned with her career interests) may represent the ideal model we aspire to deliver to our students. My comments here are simply intended to provoke all of our students' thinking about the kinds of complex business problems we routinely address in the 540 experience.

Cheers,

David

The 540 Professional Consulting Engagement: Update 22/01 & Questions

It is my intention to offer periodic updates on our students' 540 projects, so everyone feels motivated to continue to make progress.  Nevertheless, I cannot help but start with a "feel good" item.

Praise for Silvia Scherer: comments from Tim Loftus

"One of the great benefits of participating in the Otago MBA was the exceptional people in the program. I had the great pleasure of working with Silvia in my syndicate and developing a meaningful lifelong friendship in the process. Silvia's leadership skill and emotional intelligence were incredible assets to our group work and to the overall atmosphere in our classroom. Silvia's extensive international experiences and unique perspective on management added a necessary dimension to the educational experience at Otago.

I am thankful for having had the opportunity to work with a professional like Silvia and I am honoured to call her a dear friend.  Silvia is a wonderful person and her friendship was a highlight of my MBA."

Status report:

James Nation has an approved project proposal, as well as a supervisor (Jodyanne Kirkwood - entrepreneurship), Confidentiality Agreement (CA) and Human Ethics Application.

Ryf Quail submitted an excellent first draft of his proposal and will easily receive approval with minor revisions.  Ryf will be working with Richard Higham.

Melissa Barry has identified a terrific client, well aligned with her career ambitions, and has an exceptionally well-written proposal, including a professional Gantt chart for managing her work.

Mal Sirisekara will be working with one of the top consulting houses in Auckland on a corporate strategy project involving the assessment and valuation of takeover targets.  He is writing his proposal.

Jarrod Kreft has locked in a high profile, multinational sports apparel and accessories client and is drafting his proposal.  We have identified an ideal supervisor for Jarrod's project.

Questions:

Mal asked the question:  What is the procedure in finalizing the supervisor? Does the MBA contact them or are we supposed to talk to them? 

It is the Academic Leader's (my) responsibility, in conjunction with our MBA team and project panel, to select an appropriate supervisor for each project.  We're in a position to evaluate the needs of all students and determine best fit with the available resources (faculty) in the Otago School of Business.  Our selection of the faculty supervisor will depend on the project scope, relevant business discipline and methods/analyses.  You should not approach faculty without coordinating with me.

Melissa Barry asked:  Does the Human Ethics Application need to be sent in with the proposal?

No.  Melissa, a PhD in Neuroscience, is all over the Human Ethics Application owing to her background in medicine.  Most of our projects will require a Human Ethics Application because we encourage you to use multiple forms of data: hard and soft.  For instance, whenever possible you should interview industry experts to validate your work and expand your professional network.  

The University requires us to devote honest effort to this process, but the innocuous nature of our projects means that we get a rubber stamp approval.  The real benefit to our students is in structuring a credible research instrument (survey or interview schedule), so you get the data you need for your analyses.

Cheers,

David 

Deadline Approaching

Deadline

Have you ever considered the question, "What are the worst decisions I make in life?"

Well, here are three. 

Top on my list are decisions made by default: the decision to do nothing is a choice and we make this choice day after day through life.  In fact, the decision to do nothing (and allow opportunities to pass us by) may too often define our course through life.

The second worst decisions may be to commit in part, but not fully, to a course of action.  Doesn't the old adage hold: if something is worth doing, it's worth doing well?  Think about almost any major decision you make in life (e.g., getting in shape, starting a business, getting married or pursuing your career) and consider, when does a halfhearted commitment to a course of action make sense?

The third worst decisions are those based on fear.  I may be mistaken in characterizing fear-based decisions as third worst because (it would seem) fear explains why we fail to choose (default choices) or refuse to fully commit to a course of action.  It's too scary.  You will regret these decisions most in life: "I didn't have the courage to try."

We are rapidly approaching a deadline for international students to join our Otago MBA

programme.  Only ten weeks remain before the start of our 2014 Phase One

courses in April.  You must act soon to complete our application process

and acquire a NZ visa in time for orientation.

This may be the most heartfelt advice I've offered on the blog.  If want to apply but haven't, get it done. If you've committed to our part-time (3 to 5 year) programme, consider the benefits of attending full-time and completing your coursework in 9 months.   I'll make this promise, once you are in our programme, we will devote every effort possible to make your Otago MBA education successful and one of the most enriching experiences of your life.

Apply now!

David

The 540 Professional Consulting Engagement: the Proposal

To current and future students:  A common scenario plays out in the 540 experience.  Our student meets with the client and is bombarded with overwhelming immediate, context-specific information, enough to make his or her head spin. It is the student's job to bring this information back and allow us to help structure a suitable project. We abstract away from the immediate and irrelevant data to ask, “What kind of problem is this?” We separate the noise (e.g., opinion and situational details) from a credible understanding of the problem and solutions.

Then, our students (you) work with the Academic Leader to structure a two-page formal project proposal consistent with our standard template, available from me.  The proposal constitutes an informal contract between you and the Otago MBA concerning the 540 requirements for graduation: this is an internal document only and not for circulation to the client.

The proposal also represents a very important working document intended to remove the grey and confusing mess of a complex business situation and add clarity. The proposal should provide sufficient structure to allow you to work efficiently in collecting data and completing your analyses. We do not want you to grope your way through the project.

Your proposal will contain the following: information about you, client profile, current challenge, your project (description, purpose, objectives, scope of work, and methods), schedule of deliverables, start and finish dates, as well as contact information for your client.

• Client profile: Offer a short (two or three sentence) profile of the client, emphasizing information required to understand the challenge this company or non-profit agency faces: create a context. 

• Current challenge: Briefly describe the complex business problem, a challenge, this company faces (e.g., increased competition, lagging performance or untapped market – the reason for your project.

• Academic frame: Capture the challenge in an appropriate business frame (e.g., marketing, finance, economics, operations, strategy, sustainability or international business) that informs your methods and analyses (e.g., right data, collection methods and data analyse). 

• Any 540 project focuses on business concepts. Some concepts delimit the project scope (this product or those competitors), while other concepts are defined by your analyses. You need to clearly identify the concepts of focus for your analyses.

• Project description: You next describe the project scope, purpose and objectives for your analyses.

• Define the project scope based on concepts: limited to this market (countries), performance (financial), operations (supply chain) or other concepts / delimiters that enable you to focus your work.  The purpose defines the intended benefit to your client and objectives describe the specific questions addressed.

• Methods: Every project requires the student to collect and analyse data. You should include hard data whenever possible and may conduct content analyses (i.e., of annual reports), a survey (i.e., questionnaire data) or interviews with key constituents or industry experts.

• Clearly describe (1) the data; (2) how you will collect data; (3) specific research tool – an interview instrument; (4) sources of data; and (5) how you will analyse the data.

At this point, you should have a well-honed grasp of the work required to complete your 540 project with minimal wasted effort.  Please ask if you have any questions.  

Future students: Few opportunities exist in your professional career to perform on a big stage,

with the spotlight on you and the backing of professionals who will help you look good.

This is your chance to advance your career or make a transition to a new career.

Express your interest now.

David

See also: Conceptual Reasoning and Mentored Consulting Engagement.

The 540 Professional Consulting Engagement: Confidentiality

Confidentiality

To our future students: I'll offer assistance to individual students (by name) and we will discuss projects at a conceptual level.  We cannot, however, include client / company names or sensitive details pertaining to any of the projects, for the following reasons.

Our 540 consulting engagements frequently focus on highly confidential, business critical challenges and require our students to gain access to proprietary information.  In these situations, the client may request a Confidentiality Agreement (CA) be signed by all parties with access to the data or information.  Our office uses a standard CA for the majority of our clients: a copy of this form can be obtained by our students from the Academic Leader (me).  

With this CA in place, we are obligated to protect the client's interests, including securely holding the final 540 project report for up to five years, with no or limited access.

To our current students: 

We will discuss expectations for performance, our processes, the proposal, report structure and the nature of your work at a conceptual level.  Here's an example.  James is working with a high-tech client who has enjoyed a technological advantage, but competitors are beginning to catch up.  His project can be framed as an analysis of strategy and structure.  Strategy in this case is defined as the company's position in the technology landscape (among competitors), with the relevant target markets defining the scope of analyses. Structure is defined as the development of the company's professional administrative structures / processes, since the founder may want to explore exit strategies in the next five years.

James, feel free to share details or ask questions through comments to this post.  I'll proof any comments prior to approval, so we don't share too much.

David