A new chapter
by tendai on Oct.29, 2009, under Life, MBA
Has it really been that long since my last posting. I can explain. Okay so the last bit of the MBA is a bit of a blur. Not at the time of course. I completed and passed all my modules (yay) and wrote millions of words for my dissertation (okay not quite millions, but close enough). Submitted that last month and then breathed a massive sigh of relief. Who would have thought that the year would go by so quickly. And who would have thought that I would feel the way I do now about the experience.
I am not sure when I started thinking about going back to school. For the longest time I did feel I had ‘unfinished business’ with the world of academia. And when comfortably ensconced in the world of work, it becomes all the more difficult to tear yourself away. But I did it and here I am, a year later. MBA done and dusted.
I am excited about what the next few months hold. I am excited about returning to work. I am looking forward to the challenges ahead and feel that much more prepared. I am excited about the prospect of working for myself. I was so sure prior to starting the MBA that setting up my own business was not for me. I thought I liked the ‘security’ of the big corporation, the safety blanket that I have always known. But all of a sudden it seems that there are forces at work, gently nudging me to ‘go it alone’. Well not so much a gentle nudge but more of a full body tackle. So here I am, proud owner of a limited company. And already the phone is ringing off the hook. Surely this has to be a good sign…
Service Management….1
by tendai on May.07, 2009, under MBA
I am really enjoying my module this week. My expectations for the course have been exceeded - and I expected it to be good! Robert Johnston is a really good lecturer and an absolute guru in the field. I will write more when I complete the module. Must prepare for tomorrow now.
Financial Analysis
by tendai on Apr.29, 2009, under MBA
This term we have gone from being full-time students with several different modules a week, to modular students on intense one-week courses. My first modular elective was Financial Analysis last week. At this juncture I must point out that finance is not my forte, but I wasn’t about to let that stop me from developing into a top-notch financial analyst….
I chose the elective because I thought that it would equip me with sound and objective tools for assessing the value of a company. Surely the study of finances is a science, and not an art??? By the end of the week I came away thinking that financial analysis is about as ‘objective’ as strategy and organisational behaviour. Two analysts can use the same set of financial statements, reformulate them, apply the same valuation models and come up with completely different measures of the intrinsic value of the same firm. Analysts base their forecasts and evaluations on assumptions that are in line with their view of the glass being half empty or half full. Companies present the information they want you to see and hence the financial statements are subjective and can be manipulated. And forecasts that go beyond a 12-18 month period are little more than educated guesses.
So how will people, eager to achieve a return on investment, know what company to invest in? A report from a respected financial analyst can sway consumer confidence either in favour of, or against a company. And sometimes the analysts sources or interpretations of management information are questionable. So yes, an interesting module led by very knowledgeable academics. But I am still unclear about how to apply my newly acquired skills and it failed to instil in me any confidence in the financial sector. Small wonder the economy is in the state it is in now.
The Rat Race
by tendai on Apr.28, 2009, under MBA
The thing with keeping up with the Jones’ - is that they have their own Jones’ to keep up with. So they will always be ahead of you. People are constantly striving for the next thing. For greener pastures. For better. For more. Infinite wants versus finite resources.
Like the thousands of other full time MBA students out there, I am not without some anxiety about what and where my next job will be. The universal MBA assumption is that the degree will lead to a career boost. Or personal fulfilment. When I was at work, each promotion brought about a much needed rise in income……….and a corresponding increase in expenditure.
What is about with the rat race. You want a better job so you can get on the property ladder, or so you can buy a bigger house, a better car, a better lifestyle. But then you spend so much time working for those things that you don’t actually have the chance to enjoy them. Wikipedia, the academics favourite (and most reliable!!??) information source defines the rat race as an endless, self-defeating or pointless pursuit. Surely there is more to life.
Recession Update
by tendai on Apr.05, 2009, under MBA
Ali Baba and the forty thieves are now Ali Baba and the thirty thieves. Ten were laid off.
Batman and Robin are now Batman and Pedro. Batman fired Robin and hired Pedro because Pedro was willing to work twice the hours at the same rate.
Iron man now “air-pooling” with Superman to save fuel costs.
Women finally marrying for love, and not money.
Q: With the current market turmoil, what’s the easiest way to make a small fortune?
A: Start off with a large one.
Q: What’s the definition of optimism?
A: An Investment Banker ironing five shirts on a Sunday evening.
Q: Why have Dubai real estate agents stopped looking out of the window in the morning?
A: Because otherwise they’d have nothing to do in the afternoon.
Q: What’s the difference between an American and a Zimbabwean?
A: In a few weeks, nothing.
Life
by tendai on Mar.23, 2009, under MBA
Life has been pretty busy lately. It seemed that all of a sudden, assignments were due and then exams. And now more assignments which I have yet to start and finish this week. So Friday night was a chance to kick back and just enjoy ourselves. Our end of term ball, themed “A Night at the Oscar’s” was a huge success. Red carpet, professional photographers, ‘celebrities’ dressed to the nines and a world class awards evening made the evening one to remember. It was also our last chance to be together as a group because from next term we will all be taking different modular courses. A new era beckons and then the home stretch, the project and dissertation. And then the rest of our lives. This year is but a chapter in our lives and the book is yet to be completed. Happy writing.
Consumerism
by tendai on Mar.04, 2009, under Life, MBA
Last year she had a party with all her little friends. It was great. Twenty of her ‘nearest and dearest’ friends running around the play centre (ear plugs please!). After two hours, it was done and everyone went home happy. The perfect party. So this year we gave it the best pitch we could. Gave her the choice of whatever kind of party she wanted. Told her she could invite all her friends from her new school (the two hours did it for us). Outlined the cost-benefit analysis - loads of friends equals loads of fun equals loads of presents. So why the blank face. She must have been tired.
So on the day we took her out. Here we were, enjoying a perfectly fine meal. On cue the weary, plastic-smiling staff came over and sang happy birthday in unison. One of them even looked like she meant it. And they brought the cake with the shiny, sparkly thing. We have done our bit as parents, I thought. What more could she want. And I am gazing in awe at this little six year old thinking how sweet she was, how innocent - oh the joys of parenthood. And she looks up, plate half eaten and I am expecting her to thank us and say how wonderful we are and how much she has enjoyed her day. And all we get is “so when am I getting my Nintendo Wii?”
Consumerism - this is where it starts. We have played a part in everything that is wrong with the world.
British Jobs for British Workers
by tendai on Feb.21, 2009, under Life, MBA
My last post was extolling the merits of diversity. But consider for a moment what happens when there are not enough jobs to go around and unemployment is on the increase. My niece was recently laid off. She was working in Los Angeles and went to work on a Monday morning and was given the news and told ‘it was nothing personal’. So she moved back home to live my sister in New York. And now, like millions of other immigrants and Americans alike, she is struggling to find a job.
Recently the UK papers ran the story of workers striking outside the Lindsey Oil Refinery in North Lincolnshire. The workers were striking because they had lost their chance of a job to rival Portuguese and Italian workers. Seven companies, five of them British based, bid for the contract. The contract was awarded on a lump sum basis for a fixed number of hours and the proposed shift pattern for company that won the contract did not include paid tea breaks. So very crudely put the British workers’ love of a sit down and a cuppa helped ensure they lost their chance of a job. So when deciding who to award the contract to they looked at, among other factors, enhanced productivity and therefore cost savings versus the right to have paid breaks.
A few years ago we bought a kitchen and needed it fitted. We asked around for various quotes and spent some time looking to see where we could get the best value for money. We were introduced to Lee, this Chinese guy, who gave us a quote we couldn’t refuse. He started work the next day, worked non-stop (we had to ask him to take a break!), came in at a fraction of the price and did an amazing job. True, we could have hired one of the many contractors listed in the yellow pages, or used the extortionate ‘highly recommended’ service from the kitchen supplier, but Lee was available, eager and saved us money.
So in a recession and jobs are hard to come by, the formerly cohesive society - love thy neighbour and all that - changes. Local people feel a sense of entitlement to the few jobs that are available - perhaps rightly so. And what happens to the business case for diversity? It gets shelved. Pending approval.
The Business Case for Diversity
by tendai on Feb.12, 2009, under MBA
In the past four months I have worked with an accountant from South Korea, a Six Sigma Master Black belt from India, an IT consultant from Nigeria, a marketing genius from America and an environmentalist from Norway. And that is just a handful of the many talented professionals in my MBA class. What this has given me is an appreciation for the many varied cultures, skillsets and experiences that people have to offer. People I may not otherwise have met had it not been for this program. Having spent most of my working life in the UK, it is so easy to lose sight of other perspectives and become quite insular. With globalisation and increased competition, most major cities are now extremely multicultural and the workforce should reflect the community it serves. How would you know how your product or service will be perceived by the wider community you aim to reach. Unless you have the right people on your team.
You don’t know what you don’t know.
Quote of the day
by tendai on Feb.11, 2009, under MBA
“Tell me and I forget. Teach me and I remember. Involve me and I learn.” Benjamin Franklin
