Heather

Oh, so you have an MBA

Heather Kagin — 2006-12-11T00:23:08-06:00

I am near the point of comprehending this (finance crib sheet that has been a labor of love for the past few hours)...

and still laugh every time I see this:

Two Down, Four to Go

Heather Kagin — 2006-12-10T11:16:34-06:00

Just looked at the posted answers to the accounting final and it is difficult to predict the grade. I pretty much nailed two of the problems, and the other two will need some reliance on the "gods of partial credit." My variance calculations were based on different rates than he showed, and I didn't do a full blown income statement for another. I did explain the thought process behind each answer, and he seems to focus more on whether we actually understand what we're doing. Only disappointment was the professor's lack of crazy attire. I was convince we would be greeted by Willis in a Santa Clause suit. For those that had a stellar showing on the mid-term, the final was probably a cakewalk, due to the re-weighting. The higher score exam will acount for 45% of the course grade, and the lower score 15%.

Next up is Operations at 1 pm tomorrow. If the test is similar in nature to the practice problems he provided, it should be pretty straightforward. The plan is to spend about six hours today on finance reading and creating my crib sheet, and another two or three on Ops. I have yet to encounter anyone that said the finance final was "not that bad." One person told me that an alum cringed when someone mentioned the exam to him...and he took it six years ago.

Meet my alarm clock

Heather Kagin — 2006-12-08T17:20:37-06:00

Meet Lucy. A.k.a Little Bit, Lu-Lu and Lucifer. Lucy is an alarm clock I adopted in August with the help of Petfinder. She is up and ready to go by 6:30 am without fail - even if my head hits the pillow at 3:30 am. Some mornings, I do want to throw all 33 pounds of her pug-mix cuteness across the room in an attempt to get some extra sleep. She is relentless. I love the crazy little fur hellion though because she is great at getting me to class on time or preventing me from sleeping in when I should be studying.

Plus, she inadvertently does this Billy Idol thing with her lip that is hysterical. Sometimes she just stares at me the right way and my mood is lifted.

Quick break from reality

Heather Kagin — 2006-12-07T23:25:51-06:00

Final #1 (marketing) is out of the way. It was a painless, open book, one-hour experience to reward us for being motivated enough to discuss the concepts in depth with fellow students. We learned more doing this than we probably would have cramming a ton of random notes.

Taking a quick break from pouring through accounting. I'm compiling my 2-page crib sheet for the final that includes items such as:

Standard costing measures each component of product cost at some predetermined rate. The rates reflect estimates of what an efficiently manufactured unit of product should cost to product.

Can't think of anything else I'd rather be doing right now. Oh, wait, yes I can. Let's fast forward to a week from tomorrow when my brain will be filled with crucial questions such as "Hmm, margarita or pina colada with little umbrella in it?" (Below pic is the beach in Punta Cana, Dominican Republic.)

Sometimes, when I want an escape from a study-down-a-coffee-study-more-attend-a-meeting-think-about-business-plan-read-gaggle-of-email-miss-$2-beer-night-at-favorite-happy-hour-spot day of business school, I pull up old photographs and journals to remind me that I am here to obtain the skills to create the financial freedom to experience the world. From my travel blog:

I can now say I know what fried grasshopper, beetle, and silkworm taste like. The grasshopper was light and airy, and the beetle required more chewing time to break apart the hard shell. Pieces of it managed to stay stuck between my teeth for the next few hours. I followed the bug appetizer with some octopus on a stick. As for animal products, I haven't gone totally crazy yet, but I did try some pig tail and stomach. -- Thailand, 2005

Today I got to stamp around in mud up to my knees. We were preparing a thick brown sludge of earth to make bricks, so we had to mix it with our legs. Picture that I Love Lucy episode when they are in the tub of berries, and it was kinda like that. Then, we filled up wooden molds and slapped them on the ground in rows. They will sit out in the sun to dry, then we will create a kiln by piling them up and lighting a fired around them. In addition to creating the bricks, we also moved about 2000 of them to the site for the orphanage. -- Kenya, 2006

The volunteers came from the United States, Denmark, Morocco, France, Germany, Bulgaria, and South Korea. Our home for the next two weeks would be the Joygesa temple, which is the head office for the Joyge sect of Korean Buddhism. The work, we were told, would consist of festival preparations such as making paper lanterns, volunteering at a home for the elderly, cleaning the temple grounds, and various odd jobs. Our sleeping quarters at the temple was a large room with a golden Buddha statue in the back. We slept on the grey mats that are used for chanting. -- South Korea, 2005

Before heading back to practicing variance tables, a quick word on the free time before you start the MBA program: If you can, do some traveling. Leave work a month early and just go wander. You're going to spend close to $100,000 on education and living expenses, so what's a few grand more for lifelong memories?

Great quotes today

Heather Kagin — 2006-12-06T16:53:54-06:00

Some great one liners today:

"She was, excuse the expression, an accountant."
Comment made during the first-ever Owen Lunchtime Mixer

"Never grow a wishbone where your backbone should be."
Written on the board at my local YMCA

And the favorite, by Prof. Willis, who never ceases to keep me amused during class:

"There will be a throwdown in dorktown."
Referencing an anticipated fight with Owen's outspoken economist, Prof. Froeb, if Froeb really did say accountants get paid more because their job is so damn boring.

So now you want to be part of the problem?

Heather Kagin — 2006-12-05T13:48:47-06:00

It's no wonder this country is far from combatting the out-of-control obesity epidemic. Driving home yesterday, I heard this segment on NPR about how the brainchilds of the "Got Milk" campaign want to install cookie-scented strips at local bus stations. In their mind, the smell of fresh-baked cookies will make your system yearn for a tall glass of milk. I'm not sure about you, but when I smell cookies I'm going to crave a round, soft, sugar-filled substance rather than a big swig of cow nectar. Call me crazy, but isn't this type of advertising a new low? Do the advertising execs feel it is justifiable to encourage consumption of hundreds of extra calories in hopes of increased milk sales? Wasn't the original focus that milk "Does a body good"? This campaign is like giving away airline size bottles of vodka to kids and justifying it by saying it may get combined with orange juice. It just isn't a good idea, nor is it socially responsible.

At least New York is on the right track.

What would I change about Owen?

Heather Kagin — 2006-12-05T12:58:10-06:00

What would I change about Owen? Besides the fact that they videotape us doing a comedy routine the week before finals? I know, I know, it's a valuable lesson in learning to overcome fears of public speaking, but, for me, it added a level of anxiety to what promises to be an overwhelming week. Honestly, the comedy routine assignment should stay, because it gives you a chance to see people in a different element. And, how often do you get to see someone drop the f-bomb in class without consequence? In my case, when I tried to practice in my normal voice, I couldn't get any words out. I love speaking in front of groups, but the comedy skit terrified me. So, I opted for using an absolutely horrendous southern accent during my routine. At least it's over and I can go back to being funny only by accident.

I definitely would NOT want to change any of the administration here, especially the team in student services. They are wicked good, most notably during registration time. I've received emails at 11 pm on more than one occassion. Any suggestions for improvement would have nothing to do with the people here, as I'm constantly amazed by the level of collaboration and support provided by the students and faculty.

One suggestion may seem a bit trivial, but the school could benefit from an auditorium space large enough to hold the entire student body. Not only will it prevent students from having to go next door to Wilson Hall for large lectures, but, more importantly, it would also serve as a great place for hosting recruiters and holding networking events. When Morgan Stanley came to Owen, the upstairs lobby was filled with students decked out in suits, while others sat five feet away at the study tables in casual garb.

Other things that come to mind:

As others have mentioned, sometimes I feel like an MBA popsicle when the temperature is out of control.
Although the leadership development sessions are helpful, they are sometimes at inopportune times, so people don't put as much effort into them as they could.
If only D.C. was minutes away...
The 8-10 cafe could offer some healthier selections, such as fruit salads or soups. I often find myself going to the law school to grab a snack, but would rather be supporting Owen.
More coordination between the Healthcare Landscape and Immersion course. Keckley could provide the statistical and high-level information, then Owens could enable us to apply this new knowledge during the immersion activity.
A mid-term in finance so there is some way to gauge how you're doing in the course.

What I want to know is...

Heather Kagin — 2006-12-04T10:23:58-06:00

How many people do they expect to die during a clinical trial? Some clarification on the wording of the Pfizer story in the Wall Street Journal this morning would help ease my mind a bit. It's a tough concept to stomach that, in doing clinical trials, there's an acceptable number of individuals that can perish in the name of progress. However, I recognize the necessary evils of the system. The teaser read:

Pfizer may have to move more aggressively to cut costs and restock the company's pipeline after development of torcetrapib was stopped. The drug was shelved after more people than expected died while taking it in a clinical test.

Leadership Development Program

Heather Kagin — 2006-12-01T13:40:59-06:00

What is your leadership style? This is the question Owen is posing to students as part of the Leadership Development Program. Through a series of group meetings, assessments, and one-one-one counseling sessions, we have the opportunity to learn how our personality shapes the way we function and what weaknesses could hinder success.

Recently, I had a one hour call with my leadership coach. We reviewed the four reports from the Hogan Assessment, a 300+ question survey that covered everything from whether I cry often to if I know what makes stars twinkle. Some of the analysis was spot on. We discussed how my personality can enhance or harm a team when I am put under pressure, and strategies to keep in mind for the future when assembling a group of employees to maximize outcomes.

There are multiple formal opportunities to assess your leadership style while at Owen. In Leadership Communication, we completed the Strengths Assessment that identified the top five traits that differentiate us from others. Additionally, all course groups are assessed by a second year students and include face-to-face discussions regarding areas of improvement and how we brought value to the team. This can be difficult at times, but is incredibly helpful.

Getting into b-school was all about the story

Heather Kagin — 2006-11-15T17:36:11-06:00

The question was posed "What do you wish you had known during the application process?" In my case, it's more what I wished I had realized earlier. Keep in mind that the following is based completely on my own observations and conversations with others. I've never sat on an admissions committee and certainly can't claim to know the inside scoop on the decision making process.

I spent a fortune preparing to apply to business school. A few hundred went into prep books, $750 for three rounds of the GMAT, and another $300 or so on a tutor to boost my quant score (which magically went down when I took the test, even if I was rockin the practice problems each time I met the Dartmouth math major at Starbucks for our sessions. Some people just aren't wired for standardized tests.) I was throwing money into improving my numbers while ignoring a fundamental aspect of business school admissions - my story. If I could do it all over again, I would have spent more time focusing on my value proposition and less time in the Barnes and Noble test prep section.

What I initially failed to take into account was that I had compelling information to share. It took a half hour chat with an admissions consultant to learn that I had certain qualities that put me into an "other" category. I wasn't one of the 80% of applicants that were currently working in consulting or investment banking. My background included international volunteer work, a start-up company that was acquired, as well as leadership positions in the community and in college. For some reason, I was obsessed with the concept that if the numbers weren't high enough, no one would look at me. It took some time to abandon the number paranoia and focus on my recommendations and essays, especially the supplemental essay. Use that supplemental essay to your advantage. It is your friend and it really does get read. Sell yourself. Find the quirky traits in you that will get your app a second look. (Tactfully) abandon your modesty.

At one top school, I flat out said in my essay that I knew I was below their GMAT average, but mentioned specific aspects of their program that made me a good fit. I ended up on the waitlist and was told if I took a summer math course there was a "very good" chance of being accepted. I withdrew my application because I had decided to attend Owen for the Healthcare MBA. The point is that you want to show the schools the unique package that is you. If you BS this part, it will be wildly transparent and could hurt you. Show enthusiasm and come across as someone that is a great cultural fit.

The moral here is that, while the numbers do matter to an extent, your unique qualities can offset a less than stellar GMAT or undergrad performance. If I had just accepted this early on, I could have spared myself the experience of taking GMAT round three on Christmas Eve.

Know your personality and go by gut feel rather than ranking when making a decision to apply. Know if you are going to mesh well with the student body and if the school feels right to you. I walked into one building for an interview, had a sense of unease, and decided not to apply. It just wasn't the right setting for me. If you are going to spend 12 hours a day in a place, make sure you will be comfortable there.

Lastly, don't be shy. Admissions people will gladly pick up the phone or respond to emails to answer any questions. And, who knows, you may make a positive impression on someone that is reviewing your application.