Inaugural BYU MBA Case Competition

One of the most exciting things about being part of BYU's MBA program is the opportunity to really have an impact and make a difference. If you see something that can be improved, you can actually improve it. Mathew Harrison, Class of 2010 and VP of Academic Affairs, saw something that we could do better. And so today, we had our first BYU MBA in-program case competition. Mathew said, “The purpose of the competition was to provide (1) an intense learning opportunity for students to enhance business analysis, presentation, and teamwork skills, (2) an opportunity to work on a cross-functional team and build relationships with BYU MBA students from different majors, and (3) an opportunity for first-year students to practice and prepare for next year’s case competitions.” I think he succeeded in all of his goals.

The following is a summary of the event:

Yesterday, eight teams of 4-6 people received a strategy business case based on Pandora, the popular automated Internet radio service. The teams spent the next 24 hours working feverishly on recommendations for new strategies that will lead to increased growth and profitability. Each team gave a 20-minute presentation followed by a 10-minute round of question and answer to a panel of judges made up of business professionals. Two teams were picked for the final round and repeated their presentation in front of an auditorium filled with their classmates and new judges.

We are proud to announce the winners of the competition, who will be splitting $1,000 and going on a shopping spree this weekend. The winners are: Doug Mumford, Britt Shirley, Dan Howell, James Core, Brian Clegg, Pete Boehme (not pictured)

The second place winners will be splitting $500, so don’t feel too bad for them. Here they are: Caio Correa, Ben Kaufman, Kelsey Harris, Charlotte Larson, Andrea Cordani

Congratulations!

And thank you to all who participated, to all who came to support your classmates, and especially to the 10 judges who took time out of their busy schedule to grill these students.

And we can’t forget our sponsors! Another great benefit of the BYU MBA program is the community in which we reside. We are fortunate to have a number of great local businesses helping to sponsor these events.

-Chloe Andersen, Class of 2010, OB/HR

Internship: Citigroup

Full-time: Citigroup

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BYU MBA Academy

Two years ago I received a formal invitation to attend an information dinner regarding the MBA Academy. The invitation stated that the dress code was business casual. When a Google image finally clarified what appropriate business casual was I asked myself, “Me? An undergraduate painting major? In business casual?” At the dinner, people spoke about all the benefits of an “embee-aye”—which didn’t sound too bad. I sat at a table with two business undergraduate majors and a mysterious MBA student. Once we finished dinner, we were asked to network with the MBA student at each of our tables. “So… do you have any kids?” I asked.

This was the beginning of many exciting and worthwhile experiences with the MBA Academy. The MBA Academy is a program that helps undergraduate students who are interested in getting an MBA achieve just that. It helps prepare students for the GMAT, holds a one credit-hour lecture class, and provides opportunities galore to excel in business. I have made friends and have learned about and been trained in some of the most important aspects of business because of the Academy. Here are two:

1. How to Network. Yeah, obviously I needed help. But help did not come through classes about good networking. Instead, imagine being invited to lunch every month with representatives from Intel, HP, and American Express who want to talk to you. It’s the scariest and most efficient way to master networking. After about two of these lunch meetings, I had networking down. I was able to keep up an interesting conversation with business representatives because I had experience in networking, and I was no longer afraid of asking questions. Sometimes the best way to learn something is to get out there and do it. The Academy provided me with opportunities to train in networking. Now, I am used to networking. I can do it well, and professionally without asking unfitting questions about personal family characteristics.

2. Understanding Where I Fit In. One of the best perks of the MBA Academy, however, is the people I've met through the Academy. I met people like me—who weren’t completely occupied with business their whole lives. I met people who did not have expertise in business, but rather medicine, photography, or political science. Each of them was excelling in the MBA program. They excelled because they were different. They had different understandings and brought diversity and new insights to business. They showed me that a painting major, who spends most of her time networking with a canvas, has the ability to succeed in business because I was a painting major. This understanding alone has shifted the direction of my life completely—and I could not be more excited about it.

Two years ago I had no idea what an MBA was. But I know now because of the MBA Academy. Sometimes I still ask myself, “Me? Get an MBA?” Because of what I have learned from the MBA Academy I can answer with a confident “YES.” I am indebted to the MBA Academy for empowering me and giving me the skills and knowledge I need to make my goal of an MBA attainable.

-Stephanie Godinez, BYU MBA Academy Member, Future MBA Student

*This email was written in direct response to the following prospective student question:

I am wondering if any of you have attended the BYU MBA Academy and if it was beneficial for you if you did? --Annie

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Canyonlands Half Marathon

In an effort to balance the all-too-often, academically lopsided MBA life, over 20 business students trained over the past few months and ran in the Canyonlands Half Marathon/Five Mile race this past weekend in Moab, Utah. Complemented by near perfect weather and mounds of pasta the night before, the much anticipated race was a ton of fun for everybody involved, including Jumi Lee who anticipated only running the 5 mile race, but found herself registered for the half marathon. She ran and finished no problem, just like the following friends of ours:

Ken Carpenter

Ryan Andrus

Brandon Anderson

Craig Anderson

Julie Nelson Kellett

Matt Kempton

Graham Orme
David Liddicoat
Moroni Schwab
Carlo Bena
Joe Dredge
Emily Tanner
Liz Temus
Julina Manning
Justin AndersenChloe Andersen
Shan Grimmius
Ronell Hugh
Dan Myers
Ryan Wilson
AnnMarie Dunn
Kelsey Harris
Kristan Brooks
Kyle Lemmon
Kyle Freebairn
Jumi Lee

and a guy that looked remarkably like Jeremy Reese (so much that I took his picture and posted it with the rest of the photos)

Congratulations to everybody; you made me and Luke Terry proud as we watched from the sidelines.

-Jamen Long, Class of 2011, Supply Chain Management

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Majoring in Finance, minoring in...Broadcasting??

The BYU MBA program provides students with one opportunity that to my knowledge no other program offers: the chance to anchor or guest star in a business news video segment filmed in an actual television studio.

Morning Market Call is a program that was started by BYU MBA Finance professors with the purpose of providing MBA students opportunities to discuss financial topics in front of a television camera. Once you become the CFO or CEO of a Fortune 500 company, you've gotta be comfortable for your appearances on CNBC or CNN Money! Don't worry, participating isn't mandatory for students, but is something I've found to be a lot of fun.

One segment is filmed for each school day, with topics ranging from global business news, to government legislation, to BYU MBA specific events such as the Business Plan Competition and case competitions.

You can check out the Morning Market Call at http://mmc.byu.edu

Morning Market Call: one more way the BYU MBA program is taking things to another level. Look out Jim Cramer, here we come...

Doug Mumford, Class of 2011, Marketing

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It’s Complicated: Deciding to Earn a JD/MBA

Being a lawyer is sexy, right? It makes you smart, powerful, and intimidating. You even get a small ego trip every time you tell someone: “yeah, I’m in law school.” In reality, most law grads live far from illustrious lives. Think ambulance chasing or public defender. Supply far outstrips demand for high-profile, well-paid legal jobs, and only a small minority of law grads end up where they want to be upon graduation.

When deciding on whether to double your time in school (and student debt), there is one vital point you need to understand: there are no jobs designed for JD/MBAs. In the end, you will either be vying for a legal or an MBA position. Any initial pay incentive for a joint degree will be negligible. Recruiters won’t be knocking down your door. Now the truth is out, there are some great reasons (with trade-offs) to earn both degrees.

First, both degrees are extremely marketable, versatile, and respected. With a JD/MBA, you have the full spectrum of either career at your fingertips. In theory, should you pursue a strictly legal career after graduation, and after a few years decide it’s not for you, your MBA will allow you to explore an entirely different career (note: it is very difficult to get a traditional legal job if you begin your career in business—law firms want law school fresh in your mind). This form of career insurance is probably not a salient, stand-alone reason to invest in a joint degree. Entry-level positions and recruiting in both careers are geared toward recent graduates. Also, you won’t realize the full value of having a joint degree until contending for high-level positions (i.e. not entry level). However, both degrees provide unique opportunities … and you’ll have access to both.

Second, even though nobody recruits JD/MBAs, there are a few career paths that are well-suited for the combination. On the business side, HR, investment banking, private equity and venture capital have lured the bulk of BYU JD/MBAs. On the legal side, firms that have large corporate law practices (M&A, finance, securities, etc.) will value a JD/MBAs ability to communicate with clients. The value of a JD/MBA is more visible to MBA recruiters. In some cases it can also be a liability. My observation is that a law degree may actually hurt when trying to sell your ingenuity and creativity to a marketing recruiter. The perception of lawyers being risk-averse and inflexible is a stereotype you have to live with. However, there are no restrictions. The “joint degree” is a misnomer because both degrees are awarded separately—you’ll need separate frames to hang your degrees on the wall. In other words, you earn an MBA and JD, giving you the same educational tools as any other exclusively MBA or law student.

A third advantage is time. If you are uncertain about what you want to do with your career, you have two years to experiment and two years to pursue. It’s disturbing how many law graduates hate practicing law. You can spend the first two years of the JD/MBA trying to find out if you would even like being a lawyer. That’s what I did. The answer was “no.” That experience allowed me to unreservedly pursue an MBA internship for my third summer. This advantage comes with baggage. The likelihood of finding well-paid internships for all three summers is small. In fact, you’ll probably experience a net loss those first two summers.

Fourth, your network as a JD/MBA is much larger. You not only have friends and classmates on both sides of campus, but you also overlap with more classes. I will have been in law school for four years and the MBA program for three. That means my potential exposure to students from those extra years will be significant. The downside is that you won’t graduate with the same people you start with. In my case, that holds true for both programs.

These four advantages all have trade-offs. That’s the nature of the joint degree. It’s a tough decision. Even if you decide to pursue both degrees, you’ll probably live with some regret. It may be years, if ever, before you see tangible evidence that the JD/MBA benefitted your career.

As a final note, the order you complete your JD/MBA can be done three different ways:

The “best career track” column is a loose general rule for the type of career you plan to pursue when you enter the program. There are plenty of pros and cons to each. Your choice will affect the types of internships you’re competitive for in the first two years. There are more legal internships available for those not graduating the following year. Also, note that you can begin mixing the coursework during your second MBA semester (for options 1 and 2), but your first year of law school will be strictly law courses.

There are many other considerations not covered in this post. For example, you will find your attention and priories divided between the two worlds. Also, because there are fewer than 12 JD/MBAs at any given time, the faculty and career service offices in both schools aren’t well equipped to meet your unique needs. While sometimes it’s good to be the exception, in this case the school’s resources are focused on the mainstream. If you have questions about these other issues, or would like to discuss the joint program in greater depth, feel free to shoot me an email (tmy@byu.net).

P.S. If you still need to take the LSAT, take it in June. The first MBA semester is time-intensive and won’t allow you adequate LSAT practice.

Tim Young, Class of 2011, 3rd Year JD/MBA

*This email was written in direct response to the following prospective student question:

Any insight from students who are joint degree JD/MBA students? --Patrick

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Shocking Discoveries

I thought I had covered everything when evaluating my decision to get an MBA. I knew the good, the bad, and the ugly, and I was prepared for what I was going to get out of the program. I was quite sure of this, right up until I started classes. Then I discovered that the two most interesting side effects of my MBA were not what I had expected.

Confidence

I was not prepared for what this program would do for me, both personally and professionally, in feeling like I had the ability to walk into any situation and be valuable. I trust my own ideas and opinions. I can make things happen. I have learned that I have tremendous capability. And this will impact me for the rest of my life.

Flexibility

I’m not talking about touch your toes. But I am talking about my new ability to do anything I want. If I want to work for a Fortune 500 company, I can get an interview with almost anyone. If I want to be my own boss, I can start my own company. If I want to work from home three days a week, then I am valuable enough now that I can make that happen. Sure, these will require hard work. I may have to sacrifice in some areas to get what I want. No one will hand this to me. But with MBA after my name, people will consider it. And that is one step farther than I have ever been able to get before.

—Kelsey Harris, Class of 2011, OB/HR

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Wake Forest MBA Case Competition

Pulled-pork vinegar based barbecue at Little Richards, Cheerwine soda conversion, Bojangles breakfast experience and 36 hours of no sleep. What does that equal? A little trip to good ole North Carolina to participate in the 2010 Wake Forest Summit MBA Case Competition.

As a part of the 6 member team, I learned a ton about myself and my fellow students, inevitable when you spend 4 days together in a confined room. Lesson #1: designate one MBA to decide which minivan to drive rather than having everyone discuss the benefits and features of the Toyota compared to the Dodge. This took a whole 5 minutes and I knew we were bound for 4 days of excitement and opinions.

Second, Febreze Air Effects is the new Windex (watch the movie My Big Fat Greek Wedding if you don’t know what I’m talking about). When we arrived on Wake Forest campus Thursday afternoon we were shown to our case room. Amidst the various items the institution provided was a canister of Febreze. My first thoughts: “Um, why is there a canister of Febreze?” At around 12:30 a.m. ET time I learned the importance of this misty delightful fragrance that could permeate a room infested with an insufferable boyish odor. So when looking for an odor remedy, can I make a plug for you? Purchase Febreze Air Effects. It could save your smelling sense if that’s important to you.

Thirdly, “Arrested Development” can save your life. On the flight out to North Carolina I was introduced to this marvelous witty and insane comedy. I’d heard several people talk about the show, but never saw the life sustaining traits that could be invaluable when you’re competing for $50,000 in a case competition with little sleep. During the precious few hours we had scheduled to sleep during the case competition, our favorite Austrailian, David Liddicoat, cuddled up in his blankie watching multiple episodes of this divinely inspired slapstick show. To say the least, I’m converted and have borrowed all three seasons to begin my indoctrination of all things “Arrested Development”.

We also gained new friends from the University of Notre Dame, Wake Forest University, London Business School, IESE Business School (Barcelona, Spain), Dartmouth College (Tuck) and University of North Carolina-Chapel Hill. Thank you to our fellow MBA students, friends and family who provided the 936 votes that helped us win “Fan Favorite.” Now, we may not have placed in the top 3 to win a portion of the thousands of dollars IBM was shedding, but it’s not always about the money. Or is it?

-Ronell Hugh, Class 2010, Marketing

Internship: Omniture

Full-time: Walmart

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HR Case Competition & Field Study

During this past year, I sought out every real world application of the principles and models I’m learning as possible. Two of those opportunities were a field study and a case competition.

Honeywell Field Study

As a team of five MBA students, we contracted with Honeywell to travel to SE Asia to analyze the HR implications of mass hiring in emerging regions. We spent a full semester analyzing research, gathering data, and conducting interviews and focus groups to determine the top recommendations to improve employee retention and career progression. The highlight was spending ten days in Malaysia, Singapore, and Indonesia getting to know the culture and people and then being able to present our findings and recommendations to senior executives at Honeywell.

Human Capital Case Competition

Vanderbilt hosts the annual Human Capital Management (HCM) Case Competition to attract top MBA talent to analyze how HCM can drive strategy and impact a company’s bottom line. A team of three first-year and three second-year students were given a week to dissect a complex business case and then traveled to Tennessee to present to Deloitte Consulting executives as if we were a consulting team presenting to the leaders of the case company’s management team. Not only did I get a chance to see a real business situation and the impact that HCM can have, but I also had the time of my life getting to know my team members outside of our normal routines and was able to network with successful professionals and leading MBA students at schools like Cornell, UCLA, Michigan, North Carolina, USC, Vanderbilt and Yale. It is one thing to learn what to do in a class setting for an assignment, and a very different thing to actually take the analysis from conception to implementation and get feedback, guidance, and inspiration from those who have proven success in their field. I encourage all incoming MBAs to seek out the fun opportunities to represent BYU through additional activities outside of the academic rigor of the program in order to get the most out of your MBA experience.

-Joe Nabrotsky, OB/HR, Class of 2010

Internship: Honeywell

Full-time: Honeywell

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European Business Excursion

Early in the fall, a couple of internationally minded second year MBA students decided to take a trip to Europe in late January in order to seek out any available internship or full time opportunities. They invited along as many first year students as wanted to come. A consensus was taken and we decided to go to London, Geneva, and Zurich to meet with several alumni and European based companies. We even got the trip approved by the Global Management Center to count towards our Business Excursion that must be done in order to get the Global Management Certificate. Our great mentor Jim Engebretsen decided to go with us on the trip and set us up with all of his contacts overseas. I wish that I had more time to write more about the trip and the contacts that we made and what we learned, but I guess that you can ask us all about it when you arrive next year for your first year in the MBA program. Below is just a summary to get you excited for your MBA international excursion if you so choose to take one.

Our Agenda:

Day One – We relaxed in London, recovered from jet lag, and went to see Wicked on London's West Side.

Day Two – We went to Hyde Park ward and had lunch with COO of Citigroup in EMEA. Later that day, we went to dinner at the home of the new Diplomat to Russia for the United Kingdom.

Day Three – We visited the CEO of Credit Suisse EMEA Investment Banking at his executive office conference room in London. Later, we had lunch with a few alumni in a fancy hotel and visited Europe Disney/ESPN.

Day Four – We visit Raymond James, Head of HR at Barclays, and flew out to Geneva.

Day Five – We Visit the Global Fund, an oil and gas company in Geneva, and ate at a nice Fondue restaurant.

Day Six – We took a train to Vevey to meet with Nestle, ate and bought lots of chocolate and then took a train to Zurich.

Day Seven – We took a train to Zug to meet with Credit Suisse Private Wealth Management. Afterwards, we met and had lunch with Partners Group (private equity). Then, we met with Johnson & Johnson. We finished with a relaxing train ride back to Zurich.

Day Eight – We had a free day in Zurich. Some people went to Lucern, while some toured Zurich, and two of us got to hear the traditional ringing of the bells on the square - me and Christian I think.

Day Nine – Flew back to SLC.

Summary: Lots of fun and lots of opportunity. Learned tons or tonnes depending on where you live.

-Britt Chapman, Finance, Class of 2011

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What do your elevator buttons look like?

If you are already determined that an MBA is the only thing for you, then you can stop reading now. Seriously. But if you are like me, you may be thinking, “Wait, can we step back from BYU a bit? Do I even want an MBA?” Then this post is for you.

I make lists. I make lists for groceries, I make lists of things to do, I make lists of books to read. And then I make lists to manage my other lists. When I was considering an MBA, I made about a million pro/con lists. The reason I had to make a million is because my lists were so frustratingly balanced. For every pro, I could think of a con, and for every con, there was a pro. Every up had a down and vice versa. How are you supposed to make a decision when neither choice is an obvious leader? I spent several frustrating months with my perfectly balanced lists before I finally reached Pro/Con nirvana. It looked like this.

Yup, elevator buttons. Surprised? I was. This is a picture I took of the elevator buttons in the Tanner building at the Marriott School. They have since been fixed, but this visual sign from heaven was there long enough for me to realize something important.

I had a fundamental flaw in my pro/con analysis. See, I was determined to list EVERYTHING that might be good or bad about an MBA. I gradually realized, I was completely distracted from what was most important to me, the one thing that really mattered in this decision. What did I want? What is most important to me in the next five years? Money, opportunity, intellectual stimulation, career advancement? So what is it, you ask? I’m not going to tell you. It’s not important anyway. What is important is what is your #1? Once you decide, make your pro/con list again. But this time, only list those things that are a pro or con for your #1, and see how that list turns out. It will probably be much shorter.

When I was done, I found two buttons both pointing up. For me to achieve my #1, there were only pros to getting an MBA (ok, maybe one con, but it was little). So here I am. It was a tough decision to make, but if you can figure out what your #1 thing is, then you will find those determined opposing arrows will end up pointing the same direction. If an MBA is your up, great. But you have to get rid of those opposing arrows before you can move anywhere.

—Kelsey Harris, OB/HR, Class of 2011

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