Category: Austin (page 3 of 4)

Learning on the Job with MBA+ Projects

I know, you’re pouring over the McCombs website doing your due diligence researching all of the great programs the Texas MBA Program has to offer, and you’ve most likely come across the MBA+ Leadership Program.

Those smiling faces and their Starbucks aprons. “I want to try out my new b-school skills consulting for real live companies!”, you think. I know, because I wrote about it in my application essays, too. It is one of the unique experiential learning programs that drew me to McCombs. Now that I’m a real life McCombs student doing a real live MBA+ project, I’d like to share a report from the front lines.

First, it’s worth saying that I had no idea what to expect. I came to McCombs from the education sector, so I knew very little about business or consulting, except that I wanted to learn the tricks of the trade. Consulting (and all things business, for that matter) seemed like a black box. You put numbers and analysis and strategy meetings in on one end, and out come decisions.

For my MBA+ project, I’m working with Deloitte’s Human Capital practice to research the impact of the “Industrial Internet of Things” on people. How will workplaces change? How will people’s jobs change? How can companies proactively position themselves in the midst of this change? It sounds pretty high-level and vague, but the reality of the project has been more than I imagined: more company face time, more learning, and more fun.

DELOITTE 2015

1. Company Face Time

We interface with a team of six Deloitte employees who are company leaders at various levels. Across the board they have bent over backwards to make themselves available and to make this a positive experience for the McCombs team. Senior consultants fresh out of McCombs help to guide and navigate us through the process, and senior partners generously take our calls and emails. Everyone provides thoughtful advice and feedback. Who knows how many potentially billable hours of their time we’ve racked up at this point…

As a “nontraditional” student interested in transitioning to strategy consulting, it’s been an excellent way to hit the ground running right from the beginning. It’s true that making an office visit is a great way to get a feel for what it would be like to work at that company. Doing a MBA+ project is even better, in my opinion. You get a feel for what makes the company tick,  you know people at the company, and they know you.

2. Learning

I knew literally nothing about consulting at the start of this project. In the words of one of my fellow MBA+ teammates, “I thought a vertical was how high you could jump.” We’re halfway through our project, and I can say that I now understand what consultants do (kind of) and how to do it (ok, that’s a gross overstatement, but I know more than I did).

I’ve learned from my peers, many of whom are former consultants, and can style the heck out of a PowerPoint deck. And I’ve learned from jumping in. Week one of the project we were meeting with senior consultants who were giving us the rundown on the project trajectory. Week two we were on a call with partners. Week six we were presenting to those same partners.

And from all that work, I now feel like I’m starting to gain two very consultant-y (and generally useful regardless of industry and function) skills: I’m comfortable with ambiguity and I can work with a team to structure an unstructured problem. They’re skills I already had, but the project has helped to refine them, strengthen them, and make me view them in a new light.

3. Fun

On our launch call, an hour into a slew of tips and frameworks and ideas from Deloitte, one of the higher ups closed with this advice:

“You’re getting to do consulting without any of the downsides—don’t forget to have fun! There’s no downside, only an upside.”

I’ve gotten to work with five stellar fellow first years and have gotten to know them and learn from them. We’ve gotten to play consultant and present in a fancy downtown conference room. We got to spend hours reading fascinating research, talking to industry leaders, and coaxing a neat, structured final deliverable out of the mass of available information. It’s basically a playground for a b-school nerd. What more could you want?

Is it hard to focus on the project because there is a ton of other things going on at this point in the semester, most of which involves grades? Yes. Does the project help to ground me in the reasons I came here in the first place, and give me a taste of what I can do on the other side of this place? Heck, yes. So when you get here, just know that your very own MBA+ project awaits!

How to Survive as a Liberal Arts Major Turned MBA

When you hear “debit,” do you think about your bank card? What about statistics? Does it make your stomach churnI Regret Nothing - Friends GIF just a bit? Is Excel only a program that’s used to conveniently sort rows and rows of data? In undergrad, did you purposefully avoid expensive calculators and figuring out what X was (again!)? If so, you’re probably one of my fellow liberal arts majors: Journalism, human resources, psychology, history, the list goes on and on.

While we know that most of our majors are divergent in practice, there is at least one glaring common thread that binds our educational and professional experiences together: Relatively minimal math.

Now, this is definitely not a slight to any of you that may actually regularly use quantitative skills on a daily or even weekly basis in your current position. However, notice that I said “relatively minimal.” Compared to many of your classmates who will be sitting next to you on the first day of class, you’re behind the math curve, and in the MBA classroom, learning these skills isn’t just part of the curriculum – it’s an expectation, and if you’re less familiar than those who have more advanced skills in these areas, the effort to maintain pace can become much more exacerbated.

So, let’s assume that you’ve taken the GMAT, you’re pleased with your score, and you’ve submitted your applications. Now what? Well, as you prepare for interviews, and even after you’ve plunked down your deposit on your choice program, it’s time to strengthen those quantitative muscles so that you’re able to flex them on day one.

Pro Tips! Here’s a list of things I recommend for those idle days pre-MBA:

    • Take an Intro to _____ class: Fill in the blank on this one. At McCombs, our core classes are very quant-heavy. In the first quarter of the semester, you’ll take Accounting, Finance, and Statistics, and in the second quarter, you only build on the skills you learned in the first, so it’s very easy to become overwhelmed if you’re not familiar with the material. Further, many in your class will have been a strong business or engineering background, so many of the concepts will be more review for them and may be completely new and foreign to you. Taking an MBA-level stats class as your first statistics class has a very steep learning curve, so audit a community college Intro to Statistics or Intro to Finance class during the spring or summer. If you’re able to know what a Z table is before the first day of class, you’re already one step ahead of where I was. An added advantage of taking a class at a local junior college is that it begins to prepare you to actually be back in the classroom, which will help with the initial transition from work back to school.
    • Read up on Excel: I used to think I was really good at Excel, but it turns out, it was only because everyone around me was not as good. Lesson learned: It’s all relative. I have a classmate on my study team who is a former IT analyst, and when we worked on Excel models together for homework, I would never, ever see him touch his mouse. He was a true Excel ninja, and the rest of my study team were in absolute amazement. Don’t take this to mean that you have to learn all of the Excel functions, shortcuts, and formulas before you begin your program, but you should have more than a basic understanding of what Excel is able to do prior to your first class. I recommend reading Marketing Analytics by Wayne Winston, which is our textbook for Analytics of Markets. It’s not a book that you read at leisure (it’s over 700 pages), but it does show you step-by-step how to use Excel functions in ways that you will be expected to know. The best part is that on the book’s website there are a ton of Excel spreadsheets that serve as companions for the exercises in the book, so you’re actually getting hands-on experience. Also, you may ask someone who knows Excel pretty well to sit down with you and teach you the basics, but it’s a bit more difficult to do this when you don’t know what you don’t know.
    • Don’t be scared of numbers: It took me a while to decide to come back to get my MBA because I was honestly scared of numbers. Studying for the GMAT helped me to mitigate that avoidance a bit, but I wish I had done more to really prepare for MBA-level math because the concepts come quick and it only builds from there. Go to a used book store and get an MBA-level textbook, read the chapters, and do the practice problems. The best thing you can do as a student who has more qualitative skills than quantitative skills is to recognize that and commit time and energy into strengthening those areas. On the first day of class, you want to feel like you have a reasonably good idea of the segments of the curriculum, which will strengthen your ability to positively contribute to the class.
    • Utilize free online courses: There are so many free remote learning resources available, and I would recommend browsing sites such as Coursera.org or Smart.ly to find a course that is most tailored to the skill gaps that you may have. My favorite site pre-B-school was Coursera. It includes dozens of free MBA classes that are taught by top MBA professors. For instance, I enrolled in a free accounting class, which allowed me to really understand the basic and more advanced concepts before I began my actual coursework. An alternative to these sites is MBAMath.com. It’s a bit dry in its delivery, but the content is absolutely necessary. Although it does have a flat annual subscription fee, it’s minimal, and you are able to access the site throughout the year for supplemental learning as you continue through your actual MBA coursework.

Good Luck and Hook ’em!

How We “Slack” in The Texas Executive MBA Program

slack user growth

Slack is a new online collaboration tool (and is super addictive!) [.gif source]

If you read the title of this post and thought it would be about Executive MBAs slacking off, you’re about to be slightly disappointed. Slack is a new, hyper-addictive online messaging tool that the Texas Executive MBA Class of 2016 started using last August, before our first seminar, to communicate with one another. One of our classmates, Josh Treviño, uses Slack at his office and suggested we set up a team account. Slowly but surely, students began trickling in, tentatively posting questions about pre-readings or class schedules.

The early days of our Slack environment were like being in a library: a place to request or look for information, quietly and without bothering anyone.

Fast-forward to nearly a year later, and our Slack team is more like a bustling conference at a convention center, with hallways and rooms to duck in and out of, people laughing in one corner and others sharing useful tips and tricks in another. Not only has Slack helped us find the program information we need, but many credit the tool with our class’s ability to form strong bonds with one another. Inspired by Bill Morein’s How We Slack at FiftyThree, which discusses business uses for Slack, we wanted to share how Slack has helped busy students like us, as Slack’s tagline promises, “be less busy.”

slack for education and universities

General Channel

We have one channel, #general, that anyone can join – and pretty much everyone has. This is where the chit-chat takes place, and can run the gamut from people asking questions about which elective to take, to updates received by individual students about the program, to people testing out their Slackbot-programming skills.

Class Channels

Channels named after our classes each semester help keep things organized. Think #financial-management, #managerial-economics or #strategic-management. If you’ve got a class-related question, need to track down a file, or are just looking for some motivation to work on a paper or study for a big test, this is the place to do business. These channels are archived by the moderators a few weeks after classes wrap up so they don’t use up valuable storage space.

Funny Quotes Channel

Being in one of the Top 20 MBA programs in the country means you’re always surrounded by smart, quick-witted people, whether they are your classmates or professors. A few weeks into our first semester, there were so many funny verbal exchanges happening in and out of class that often times were also some of the best learning moments. #funnyquotes is where the greatest ones get memorialized. A gem from the #funnyquotes feed recently: “Shake hands, kiss babies, and never confuse the two.” That’s Dr. John Daly, professor of our Advocacy elective.

Jobs Channel

Whether you’re looking for a new job or know someone who is, our #jobs channel has helped several people swing to the next vine. It also serves as a place to ping classmates for connections within companies (usually someone has an “in!”), solicit resume advice, compare notes on the executive coaches in the UT Career Services program offers, and offer referrals of candidates who may not be in our program.

Hobby Channels

We’re a diverse group and that extends to our hobbies. Among our hobby channels, we’ve got #field-and-stream for the outdoors-men/women in the program who like to hunt and fish, #wine-club for the group that shares a mutual love of wine after class on the weekends, #chinese for those who want to learn more about the Chinese culture prior to our class trip to China next May, and #hangout which serves as a catch-all for people who want to coordinate grabbing lunch or a drink with a classmate in the area.

Private Groups

There is the option in Slack to send private messages, as well as create private group messages. In my study group’s case, we have a private group titled “Goose” (named after our team name, “Two O’s in Goose”) set up to share notes about group work, gatherings, and inside jokes (most of which, unsurprisingly, involve references to Top Gun).

Questions about Slack or its uses for student communication? Feel free to leave them in the comments below, or tweet at me at @racheltruair.

Austin: The City with Something for Everyone

Life in the Texas MBA program goes beyond the cohort classrooms. The city of Austin is integral to our experience in the two years that we spend at McCombs. The best thing about Austin is that there is something to do here for everyone. From race-car enthusiasts to live music connoisseurs, everyone in the program takes a little bit of this city wherever they go. In this blog, we wanted to touch upon three different types of events that are truly unique to Austin’s soul.

For Music Lovers: Austin City Limits Music Festival

Move over Coachella, the biggest and best artists in music make their annual pilgrimage to Austin and play in front of 75000 people in the outdoor greens of Zilker Park. The venue is decked up with food and drinks, an art market, kids area for families, while music ranges from rock, indie, country, folk, electronic, and hip-hop. This year, the McCombs group created their own flag and made their presence felt all over Zilker Park.

For Technology Lovers: South by Southwest (SXSW) Interactive

SXSW Interactive is focused on emerging technology making Austin the breeding ground for new ideas and creative technologies. The festival includes a trade show, speakers, parties, and a startup accelerator. This year, Meerkat, the video streaming application, was one of the featured technologies gaining traction due to endorsements from many celebrities including Julia Louis-Dreyfus. Every year, Texas MBA has a booth at the SXSWi Tradeshow promoting new technology ventures supported by our own students.

For Fun Lovers: Eeoyre’s Birthday

It doesn’t get much more Austin weird than Eeyore’s Birthday Party – the annual Pease Park bacchanal known for outrageous costumes and booming drum circles. This event is celebrated on the last Saturday of April, featuring colorful costumes, a trash can of lemonade, honey sandwiches and a live flower-draped donkey.

Eeooyre'sBday

SXSW Recap: The Music

“South by Southwest (SXSW) is an annual music, interactive and film festival held in Austin every year.” – SXSW.com

While technically accurate, this generic definition did nothing to prepare me for the 10-day blur of adventures I got myself into with classmates and friends, new and old.

Start-Up Crawl to kick-off SXSW

Start-Up Crawl to kick-off SXSW

Spoon, Jurassic 5’s Charlie Tuna, Nas, Run the Jewels, Verite, BØRNS, Gorgon City, Odesza, Elliphant, Ghostface Killah, Raekwon, Big Data, Twin Shadow and Best Coast were among the bands I saw play throughout the festival. There were many others…

Up front for Twin Shadow

Up front for Twin Shadow

And I did not even really see all that SXSW had to offer. Admittedly, I skimped a little bit on many of the amazing interactive panels. One of my classmates won a guitar from a Japanese start-up by playing an accurate rendition of “Smells Like Teen Spirit,” and many others attended fascinating panels led by CXOs of some of the most prestigious companies in the world. I also somehow missed Will Ferrell and Kevin Hart wandering the street, as well as a free screening of Fast 7.

However, for me, SXSW was about trying to catch as much music as possible. I chose to bypass any of the SXSW badges, as well as the SXSW music wristband and test my luck by utilizing connections and being in the right place at the right time. Before SXSW, many of my fellow McCombs friends staying in town came together, compared schedules and tried to plan out our days. While at times this was successful (Spotify House), sometimes we just got lucky. There were multiple shows I just ended up walking into the venue not knowing who was going to be playing, only to have an incredible night with friends.

Here are a few of my top SXSW Music Tips & Tricks that helped me a lot:

– Create a What’sApp (or something similar) chain with all McCombs people that stay in town for SXSW. We leveraged this on a daily basis to determine what people’s plans were for the day, and most importantly to determine what the line/wristband situation was at similar venues. Many of us did not waste time at ‘at-capacity’ venues and were able to meet up at near-empty ones for shows (this is how I saw Ghostface and Raekwon).

– Leverage McCombs connections!!! There are a lot of McCombs alumni that are working at amazing companies in Austin and across the country that hold SXSW events. Through direct and one-off connections, I was able to volunteer at an Umbel event and get VIP-access for Spoon. Through a one-off connection, I scored VIP-backstage tickets to a Nas concert and was let into numerous after-parties and events.

Leveraging McCombs best student, Jimi

Leveraging McCombs’ best student, Jimi

– Hit up South Congress if you are looking for a more relaxed day. Once you cross the bridge and get downtown, there will be people everywhere. The streets are still manageable, but do not expect to be able to drop into a coffee shop and get work done. South Congress has a much less crowded, chill vibe (especially during the first week). They also have some great local acts (although these can be found all over downtown and the east side). West 6th is generally less crowded than the East Side and Downtown.

– Give new venues and new bands a try. This is pretty self-explanatory, but as long as the venue isn’t too far away (2+ miles away from downtown), check it out! I had never heard of Scoot Inn and now I cannot wait to go back!

We’re already looking forward to next year!

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