MBA in International Business

Twitter and Linkedin

2008-04-23T11:51:00.003+01:00

I've been posting more on Twitter these days. It's very addictive. You can follow my shanghai ramblings here

http://www.twitter.com/andrewpickett

I'm also a big fan of Linkedin.com, I'm an linkedin open networker: LION so feel free to add me, I will accept your invitation.

http://www.linkedin.com/in/andrewpickett

NPV and Christmas

2007-11-22T09:45:00.000+00:00

Having just learnt the NPV concept I was interested to learn of Amazons recent patent of NPV for delivery dates. Techdirt published the new that Amazon has patented the idea of assessing delivery dates (expected times) based on the future profitability of that customer. So if you are a good future prospect for Amazon you can expect speedy delivery of goods. Bad news if Amazon decide you have a low NPV as a customer. Read the article here. So would santa have a low or high NPV?

Too much information

2007-11-08T12:45:00.001+00:00

Just what does the future hold?

2007-09-22T09:16:00.001+01:00

The future, according to some scientists, will be exactly like the past, only far more expensive. - John Sladek

Study techniques

2007-09-17T09:50:00.000+01:00

It's been quite a few years since I have had to study formerly for examinations. Being in the business I am continuous education is par for the course however this tends to be in areas with direct and immediate application of new knowledge. Studying theory and internalising that knowledge for assessment is another story.

We've been introduced to new learning techniques to help us get started. Mind maps being a keystone concept. These work by creating associations of ideas and it's the associations that serve as foundations for deeper knowledge.

There is a wealth of information about mind maps on the internet with even free software tools to facilitate them.

On a seperate tack the Book "One L" by Scott Turow gives some excellent tips on how to study when faced with a huge volume of texts to get through. His experiences are taken from his first year at Harvard Law school and I think that any MBA student will be familiar with the situation of facing the volumes of work described here. Turow develops a system that works for him. He simply triages information into new, mastered, needs revisiting and information that he doesn't understand. By sticking to this system he is quicker able to get through a dearth of new data.

Starters for ten...

2007-09-12T00:37:00.000+01:00

Want to be a fresher (freshman) again? Tempted back by the experiences of the first round? There are undergrads that are lovin' it, freebies, parties - it's all happening. And then there's grad school! I'm sure most of my colleagues are under no illusions, we are once again freshmen. We're here to work and don't we now know it! I've met some great people already and I can tell this is going to be a great year! A great year! But the clock is already ticking...tuesday the work starts in earnest. Let's get to work.

The calm before the storm...

2007-09-09T12:07:00.000+01:00

Not quite the right analogy perhaps but it's been a relaxing few days settling in at my new place in Edinburgh and tomorrow the course starts.

It's been a long time coming. I first started considering this route over five years ago and now it is finally here. I'm excited. For all the debate about the value of an MBA in terms of it's post graduation currency I think it's easy to overlook of the inherent value of the twevle month (Fifiteen month) experience itself. New people to meet, thing to learn expereinces to be had and international travel! That's what's coming next and I intend to seize the opportunities presented.

Well I've made it this far. Now the fun part starts!!

Supply and demand

2007-08-30T09:16:00.000+01:00

This cool little business really caught my attention. They were linked on Techcrunch and the Jackson Fish market few days ago. PodBrix makes limited run Apple themed Lego sets. Every set of Legos they have put together have sold out completely. Each run is limited to 300 hundred sets. Keeping the supply down has kept the demand up. From some quick maths I calculated that they have grossed over US $ 160,000 in the last 12 months. Not bad for 12 sets of Lego. Check out an interview with Legos CEO here, and note as PodBrix say they are not affiliated with Apple or Lego in any way.

MBA in a page

2007-08-20T13:39:00.000+01:00

Guy Kawasaki summarises this site as an "MBA in a page". By his account it seems to have generated some anger from MBA students. The comments to this post are a great resource for potential MBA students. Plenty of MBA graduates with expereince spanning many years give their reasons why their studies were valuable and very relevant to the marketplace. I personally still think there is no hard and fast rule for such decisions but it's interesting to read other peoples views. As far as the contents of the MBA in page goes, a Chinese artist was asked to paint a fish...

The 'no exit strategy' exit strategy

2007-08-16T09:54:00.000+01:00

Can exit strategies be self defeating? Does the stated ambition of an exit strategy reduce the possibility of achieving that goal?

According to rational expectations theory of individuals behaviour choices the potential buyer will examine the reasons why the owners are selling the company and make assumoptions about the sellers behaviour. The key point is a stated exit strategy may indicate flaws in the business that are causing the stakeholders to exit the business. Rational individuals will also understand this and conclude that the business is worth less because of hidden problems with the business. Moreover it may deter from a sale when previously it may have occured.

Of course stakeholders may have very valid reasons to leave a business that are unrelated to the business itself. But how does the buyer know this, or, more importantly trust that this is not a cover up? They can undertake due dilligence and develop relationships with stakeholders to build trust and confidence. All at a cost of time and money.

In smaller businesses with fewer staff the risk is more significant. One reason for the possible contradiction is that the stakeholders shift their focus from core business functions of generating revenue and running operations to focussing on packaging the business. Here the exit strategy is directly affecting the business performance and removing value from the business.

Should the optimal position for a business stakeholders seeking to exit their business either through a sale be not to declare that is their intention? Is the best Exit strategy a publicly stated 'no exit strategy' strategy?

Selfish Adam

2007-08-13T10:15:00.000+01:00

Adam Smith used the invisible hand metaphor to demonstrate how those who seek wealth by pursuing self interest also assist society as a whole and build a common book. Interestingly this is the same conclusion that is reached in the Selfish gene where "successful" genes will also be beneficial to the organism even though it is "Self interest" that causes their behaviour. Could the Selfish gene and the invisible hand be the same?

The top 25 MBA employers

2007-08-08T08:38:00.000+01:00

CNN and Forbes have a list of the top 25 employers for MBA graduates. Technology, finance and consulting firms dominate the list. The list is based on employers that prospective students would most like to work for. All of the companies are US based although, with the exception of BMW, and have international operations. It's interesting to note the lack of conglomerates on the list. I would have expected to see one or two international logistics and infrastructure companies named. However maybe the they hire the skills of MBAs indirectly through the consulting firms.

It would be interesting to compare this to the actual experiences of MBAs once they are employed at these institutions although obtaining an unbiased view could prove to be difficult. Here is an interesting perspective from an intern that was fortunate enough to intern at three of the tech companies on this list.

Off Topic - Apple design impressiveness

2007-08-08T08:28:00.000+01:00

There is no doubt about it - Apple design is leading the pack.

Partner Schools: Fisher Ohio

2007-08-02T09:26:00.000+01:00

Edinburgh University exchange offering for those wishing to go to te USA is the Fisher School of Business in Ohio. Ohio is in the North West of the US not far from the cities of New York and chicago.

The exchane program is made possible with Ohios trimester course arrangement which is the same as European schools. US schools more typically have two semesters a year. Joining the Ohio program students experience the 2 year program.

The business school is celebtrating its 90th anniversary this year.

From the Edinburgh website:

They offer a number of MBA majors and minors and have outstanding Faculty
in Negotiations, Finance, Marketing and Operations, with particularly exciting
courses in Quality Management and Finance, since they are an accredited institution for GE’s famous 6 Sigma programme. For an American school Fisher is comparatively small having a class size of about 130 students

Edinburgh students must take four courses whilst at Fisher.

Resources: Fisher MBA
Wiki

Book Review: The Fountainhead

2007-08-01T09:15:00.000+01:00

The Fountainhead by Ayn Rand is a powerful novel that tackles what is possibly the most important question for any individual to answer. What is the purpose of my life. This was a gripping book that I could not put down. Written in the middle of the last century it rang true with me today.

Ayn Rands philosophy is known as objectivism. It is for the heroic in man and argues that the only true way to happiness is to live the selfish life. Ayn Rands selfish is not the selfishness as contemporarily known. By it the author means that you should be true to yourself without compromise, for to compromise is to deny your self worth. From single mindedness great things come and they can benefit others so through individual selfish behaviour mankind benefits. This is consistent with the contemporary biological theories such as the selfish gene or the origins of virtue.

At the time when the book was written Ayn Rand lived in a world that was being swallowed by communsim. China and teh Soviet block both had designs on global communist domination. The Fountainhead attacks the core of that now defunct political system by justifyung the right if the individual. Rand strongly favours the capitalist model as the only model that lets individuals thrive. The alternative, to be selfless and live for others is to destroy your own life force.

I identified with many of the characters in the novel from the heroic Howard Roark to the failed Peter Keating. Dominique Francon connects the characters taking us into their worlds. The author considers that the purpose of anyones life is to pursue what you can not help but do. For Howard Roark this is to be an Architect. For Peter Keating this is to be an artist. However Peter is unable to take up his raison de etre due to vanity wheras Howard Roark pursues his work ignoring external influence. Ultimately Howard Roarks path is justified and is argued to be the only true path to a happy life.

This book impressed me. It gave an explanation for my behaviour spanning many years, not without some discomfort I might add. I am a convert to this way of thinking. The only important standard is your own and within and it is in all of us. Whatever your field of work you innately know the quality of work that you deliver because is it judged against your own potential best. It is mans task to strive to deliver that best.

Resources: Wiki
Film

Who's reading this blog?

2007-07-31T09:08:00.000+01:00

Current visitor locations:

It will be interesting to learn if this reflects the mix of nationalities on the Edinburgh program.

Flat hunting

2007-07-28T18:47:00.000+01:00

It's festival time in Edinburgh and the city is busy with tourists! I have started the hunt for a flat (that's apartment for none British English speakers). Accomodation in Edinburgh is good value in comparison to London and I'm hoping to get a room in a houseshare near the University Campus. Good search sites are the Gumtree and the List. Prices range between £200 and £400 per month and tend to be all inclusive. The regions of Marchmont and Bruntsfield are probably the best locations for easy access to the University, however given the size of Edinburgh you are never very far from the University buildings.

Company Profile: A.P Moller-Maersk Group

2007-07-26T13:46:00.001+01:00

What do they do?

A.P Moller-Maersk Group (Maersk) is probably most well known for it's container shipping business. The familiar Maersk box cars trundle around the globe with the Maersk star emblazened on them. It is the largest container ship operator and supply vessel operator in the world. Mearsks business divisions cover Energy, Shipping & Offshore and Retail and other buisiness.

Where are They?

Maersk is a truly international company. Their head offices are based in Copenhagen, Denmark. They operate ports and shipping terminals on every continent. They have offices in more than 125 countries worldwide.

Terminals

Europe : Algeciras, Århus, Bremerhaven (enlarged with the CT4 in 2006-2008), Cagliari, Constanţa, Dunkirk, Genoa, Gioia Tauro, JadeWeserPort at Wilhelmshaven (opens in 2009 or 2010), Kaliningrad, Le Havre, Rotterdam, Zeebrugge.
How big are they?
North America : Charleston, Houston, Jacksonville, Kingston, Los Angeles, Miami, Mobile (opening 2009), New Orleans, Oakland, Portsmouth, New Virginia development (opens 2007), Port Everglades, Port of Savannah, Tacoma.
South America : Buenos Aires, Itajai
Asia : Aqaba, Bahrain, Dalian, Kaohsiung, Kobe, Laem Chabang (Thailand), Mumbai, Pipavav, Port Qasim, Qingdao, Tanjung Pelepas, Salalah, Shanghai, Yokohama.
Africa : Abidjan, Apapa, Douala, Port Said, Onne Port (Nigeria), Tangier (opens in 7.2007).

Port Elizabeth, New Jersey

Do they employ MBAs?
Maersk does not advertise specifically for MBA graduates, however in many of the openings at this 100,000 plus employ organisation list an MBA as a requirement. For many disciplines be it in information technology, logistics, finance or consulting Maersk is a company that has the scale to offer challenges to an MBA graduate.

Resources: Wiki
Maersk
competitors: CMA CGM, MSC

Reasons for doing an MBA

2007-07-25T09:06:00.000+01:00

Apart from Travel, Learning, better career prospects, meeting new and interesting people what is the point of an MBA?

Seriously - here are some good answers to that question. One of the better answers:

I think its worth doing MBA. Summarizing, it would give you self confidence,
give you better sense to work with your subordinate and superiors. It would give
you skill to talk and talk sense. It would give you a good understanding of the
business and great leadership factors to cultivate within yourself

Another article that is more specific to the IT industry in the USA summarises research that shows candidates with a masters degree have higher salaries and are more likely to go the distance.

The trouble with a question like this is there can never be an absolutely correct answer and one can never live the alternative route having committed to the other. So it becomes an exercise in perceived opportunity cost with lists of pros and cons for a particular course of action. Speaking from my own experience of difficult choices in the past there are often consequences of pursuing a particular course that did not even occur to me at the time; it is the unknown unkowns that can make decisons the most rewarding. But as a rational person decisions have to be based on the best available knowledge at the given time. For me that means a green light.

Software tools update

2007-07-24T09:14:00.000+01:00

UC Berkeley review of web apps explains that some leading universities are considering switching to online applications. Some leading institutions already have.

Subway Stations of the Internet

2007-07-23T12:44:00.001+01:00

Web Trend Map 2007 Version 2.0

An interesting map showing the most popular sites on the internet organised by category, proximity, success, popularity and perspective.

And here is the original Tokyo map

Edinburgh Partner Schools: Toronto

2007-07-23T09:09:00.000+01:00

The Schulich school of Business was ranked 25th by the FT and the Economist and it is one of the top graduate programs available in Canada. The school is situated in Toronto, Canada, and it is its financial capital. Within close proximity to three large financial centres of Toronto, Boston and New York it is not surprising that one of Schulich strengths is in the area of Finance. Students from Edinburgh are expected to take four courses.

Toronto Skyline

From the Edinburgh website

It was established in 1966 and now has strong links with the business
community and is recognized for innovation and an internationally diverse
student body. The learning approach matches that of Edinburgh with individual
and teamwork focussing on real life application, and learning from interaction
with international peers.

Climate

From Lonely Planet:

Compared to the rest of Canada, Toronto has a relatively mild weather pattern.
Summer temperatures average 20-23°C (68-73°F) and can get up to 30°C (86°F).
Autumn and spring tend toward clear, warm sunny days and winter, though the
temperature can plummet quickly, is on average a manageable -6°C (21°F). Big
snowstorms happen two or three times per winter.

Costs
Current exchange rates for the pound are £1.00 to CAN$2.14. The cost of living is suimilar to the USA so british visitors will find that their money goes far.

Resources: Schulich MBA program
Wiki
Exchange Rates

Book Review: Blood River

2007-07-20T08:45:00.000+01:00

Blood River by Tim Butcher is the authors story of his attempt to retrace Henry Morton Stanleys treck down the Congo. It is the authors intention to cover the distance overground wherever possible.

Butcher encounters a Congo that is possibly more hazardous to traverse today that it was 120 years ago in Stanleys day. He meets few outsiders and those that are in the Congo fly in directly to their base cities. The roads established by the former Belgian colonialists have been reclaimed by the bush. It is hard not to feel despondent about the plight of Congo, it seems like an insurmountable task to turn the countries prospects around. Butchers thoughts on this are telling. He argues that the lack of lawlessness he finds everwhere and ambition for a better future is the result of the massive majority still having no real sovereignty. Only when this changes can Congo expect better things to come.

Butcher also suggests that the problems of the Congo are true of many African nations. When independence swept through the African continent after the second world warit brought hope of a new begining to those repsressed under European Colonialism However those hopes were quickly dashed as in reality independence did not arrive. Power shifted to a new elite that contined to rely on the brutal systems of government. In Martin Merediths excellent work: The Fate of Africa: A History of Fifty Years of Independence it is clear that a small group of greedy and power hungry despots have destroyed much potential.

Blood river is a compelling story that gives the reader a glimpse of a country largely forgotten by the west.

Reources:
Congo - wikipedia

Update: 22/07/07 Corrections made courtesy of the Author.

Must Read Business Publications

2007-07-18T10:41:00.000+01:00

It's hard to keep up to date with the latest thinking on International Business, Globalisation, Business Strategy and international business news. There are some very robust publications available to keep you informed. Two of my favourites are sponsored by the leading MBA business schools of Harvard and Insead. The harvard Business review publishes the latest articles on management thinking as well as topics such as leadership, strategy and innovation. Inseads World Business covers real changes and events happening globally. It has an excellent section that summarizes the latest business book releases. Another must read publication is Booz Allen Hamiltons Strategy and Business magazine. Strategy and Business has considered articles that go to the heart of contemporary challenges facing business. Often citing real world scenarios it is an invaluable guide to the innovations in the consulting world.

Top Business publications

Strategy + Business - Booz Allen Hamilton

Harvard Business Review - Harvard Business School

World Business - INSEAD

Business Week

Fast Company

Business 2.0

Monocle - From the founder of Wallpaper