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Social Change and Business School

Over the past few years, the number of businesses interested in social change has taken off here in the US.  In the process, many people have expressed that they have a social obligation to not only give back to those who helped them along the way but also find new ways to help those that can’t always do for themselves. Traditionally, this has been given more present in law schools than in business schools, given the traditions of the respective professions. But today, schools like Kellogg have begun to further embrace the concept.

MBA programs today are really stepping up their social programs. Over the past years, the Kellogg School of Management recently added the Social Enterprise department, where students can come together for events and even major in the subject. At Stanford, the school has long had the Public Management program, where students can earn a certificate in public service and even get a non profit designation.  And at Harvard, programs like the Leadership Fellows program allows top public sector students to work in the public sector upon graduation. On campus, all these schools have forged relationships between students and professors, recruiters and employers, capitalism and democracy, and for profit and not for profit.

The point of the Social Enterprise program according to Kellogg is to “reflect the converging challenges that managers face today as they strive to be socially responsible global leaders in their chosen fields.”  This is particularly true as today, people not only change jobs but they also move among sectors more often than ever before.  Careers such as management, consulting, law, and marketing all face issues relevant to the public sector.

At Kellogg, we see that even being an entrepreneur is relevant to the public sector.  One of the biggest entrepreneurs from Kellogg is Andrew Youn, from the Once Acre Fund.  The One Acre Fund is on my mind as his organization is having a fundraising event in downtown Chicago tonight that I plan to attend. Andrew is proof that business school programs are making a lot of progress in business schools.

As a result of entrepreneurs like this, Kellogg has beefed up its curriculum and incorporated programs like the Board Fellows program (Stanford also has this program), a social enterprise conference, and even a required experiential course and simulation for all returning second year students.

I’m glad these schools and other ones are starting to improve their programs. In today’s economic times, it’s imperative to remember that business school is not just about getting a job, but also realizing that these programs are important and that they are going to play a pivotal role in putting the global economy back on track.

Business schools and law schools should welcome the opportunity to take part in in leveraging its curriculum for social change.

Did You Get An Offer? Are You Recruiting Again?

Unlike the legal market, the MBA job market has finally started to make a turnaround. Not only are students starting to get more interviews but some are also graduating with more job opportunities at their fingertips.  Given the environment, there’s only one thing on everyone’s mind now, as everyone starts to return back to campus. Did their classmates get a job offer? And are they going to do recruiting again this year?

At long last, it’s finally that time of year. Time when orientation for new students is over. Second year students are starting to linger back on to campus again. And everyone is starting to think about not only about full-time recruiting but also about really enjoying the final year of school.

For some, recruiting isn’t even an option, as the students have decided to take their summer employers up on their full time job offers. Of that group, many of the students got their first choice jobs last summer, so there isn’t any need to recruit again. For others, the students may not have gotten their first choice jobs but they got a job they ended up liking and were lured into going back either by the prospects of skipping recruiting this year or being offered big signing bonuses and tuition payments in lieu of recruiting.

But for others, the students can’t wait for recruiting to actually begin. It’s the chance to try something to find something different, as they may not have loved their internship this summer, whether or not it was their first choice last year. On the other hand, for others, the prospects of recruiting sound miserable. It means practicing more cases, doing more ‘forced’ networking, competing with classmates for positions again, and buying another set of new suits to wear everyday until you land a new job.

And then there’s one final group of people that just don’t know what to do.  They like their job offers but are still considering recruiting. Maybe so they can search for higher paying jobs. Maybe to get closer to their real dream job, even though they did get their first choice summer internship. And maybe because they know this is their one last hurrah to work for that big brand name company that is coming back to campus to interview in just a few weeks. No matter which of these camps people fit into, a lot of people are talking about offers these days.

I recently saw a few stats that significantly less than 50% of students, on average,  return to their summer employer. In fact, for many schools the number was closer to 30%. So when you take into account those that are sponsored, still less than 50% of students in top MBA program tend to go back, which is significantly different than law school, where the vast majority of students go back to the firm they spent the summer at.

That means that despite nearly half the people thrilled that they got an offer, 50% still need to worry about getting an offer this year, no matter whether they got one last summer or not.

Ideally, that 50% of people that need to recruit again did get an offer for the summer. That way, if they don’t get the job they were looking for, they still have a good employer to go back to. Likewise, it also makes interviews much easier, as often times in interviews employer will ask the question “Did you get an offer from your summer employer?”

For those that did not get an offer, they should come up a good reason why they didn’t. Maybe their employer didn’t give out any offers. Maybe the employer gave out some but couldn’t accommodate everyone; and in the student’s case someone at the firm would still be willing to recommend the candidate. Though in some cases, maybe the job wasn’t the right fit or performance was the issue.

Either way, people are thinking a lot more about offers now than they ever did before. And in the end, you realize that it’s not just important if you got a job offer last summer, but it’s more important that you got the right one this year if you decide to search again.

Best of luck to those that are starting their search. And congrats to those that are already finished.

Fall 2011 MLT Info Sessions at a Location Near You

Greetings everyone! I hope you are all having a good start to the Labor Day Weekend. Things are off to a good start here in Chicago. Not only have people been out and about in the city but also Kellogg CIM week has finally come to an end this week. Anyhow, I just wanted to pass along the word about some of the upcoming MLT and MBA Prep information sessions that are taking place in many of the major cities all across the United States.

As many of you may know, MLT is one of the premier career development organizations that equips high potential minorities in the United States. MLT has traditionally had events like these to inform people all over the country about the organization and to introduce them to alumni of the program. If you’re interesting in attending one of the events CLICK HERE to see the event calendar. If you find one that makes sense for you to attend, please CLICK HERE to RSVP.

As mentioned above, at the events, MLT national representatives and program alumni will give an overview of the program, share personal perspective, and answer your individual questions. Likewise, if you have any comments or questions in advance of attending, feel free to contact me as well.

See below for a listing of some of the upcoming events. MLT looks forward to seeing you there.

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The End of Summer Means It’s Offer Season

This is an interesting season for all business school and law school students across the US. When you step outside in the streets of Chicago, everything suggests that summer time is still here. Not only are people still wearing shorts, t-shirts, and dresses but others are still on vacations and on the beach. On the other hand, there’s also a lot of excitement in the air because the fall semester is also here. That means that fall classes are beginning to commence, current students are starting to think about what they want to do upon graduation, and last but not least, they are also starting to hear back about full-time offers from their summer employers.

Over the past two or so weeks, many of my law and business school classmates have been getting news from their summer employers. Some of them that work for typical employers that get back on the last day of work, which is a nice sigh of relief for those that received positive news. Others who have to wait a week or two before employers get back to them. And another group that won’t get responses anytime soon because their jobs are a tad less traditional. These firms don’t have typical recruiting cycles, so offers may not be given for a few more weeks, and perhaps maybe not for a few months.

Interestingly enough, as I was writing this entry, I recently heard back from one of my summer employers.  One of the firm Partners called me by phone and gave me the good news that the firm (and the group) wanted to extend me a position. The Partner noted that I was the only person that he was able to get live so far, which I suspect is because a lot of people are either still traveling or they are back in class these days.

In the legal world, most offers stay available until November 1, though in most cases it’s not ideal to make an employer wait so long. At big law firms, it’s possible the partners that really like you may start favoring other incoming associates that accepted offers more quickly.  At small law firms, that may not be the case, though it is likely that everyone at the firm would see that you waited, and in the legal world that typically means that you are thinking about other options, as law students do typically tend to go back to their summer employers.  The same thing could hold true at consulting firms.

On the business side, its a lot more typical to hold out on offers for a bit. However, in most cases, firms probably wouldn’t take it as personally as MBAs tend to switch jobs after the summer much more frequently. As a result, offers often extend past the November 1st deadline into December and January to allow students to partake in recruiting if they wish to.  In fact, just yesterday I spoke with a classmates that worked at a bigger company over the summer, and he said that he has until February to make a decision; and that his firm was completely understanding of him doing a second round of recruiting this year.

Whether or not you plan to go back to your summer, it feels pretty good to everyone to have an offer in hand. Not only does it relieve the stress in the current economic environment but it also means that you can start thinking more about what it is you want to do, rather than simply focusing on finding employment.  Because more important than just finding any job, is that you take the time to find one that you’re really passionate about.  Because only at that point,  will we be able to unlock your potential and achieve the utmost success in your role.

No matter which camp you fit into: Congratulations on your offers. And good luck in your continued search.

First Day of Classes … Again

Do you remember the last time you had a first day at school? You spent you first day touring your undergraduate university campus, buying books, and getting ready for orientation. Well what about the first day of your last year at school? The day you became a senior and you felt like you were on top of the whole world; like nothing could ever bring you down. Well, for those going to graduate school, we get to relive those moments all over again. We get one more chance at being the new kids on campus, and eventually one more chance at being the older kids on campus. And on Monday I joined my law school, business school and JD-MBA classmates as we embarked on our first day at Northwestern.

Incoming Kellogg students have long been awaiting this moment. Excited to finally have what some call a two year vacation. Thrilled not to have to go to work every single weekday morning. And pumped from heading all over the world on the Kellogg KWEST trips (CLICK HERE to see my post prior to my KWEST trip)

On the other side, Northwestern Law students have also been excited about starting law school. In large part because class, not orientation, actually started on Monday. This is finally the moment that many of them have been waiting for. Ready to prove they can excel in the classroom. Prove they have what it takes to be great lawyers and litigators. And convince the masses that they’re up to the challenge of not only getting great legal jobs, but also doing so in one of the worst economies ever.

No matter which group you belong to, classmates have been meeting up all over  Evanston and all throughout Chicago getting to know their classmates. This is especially true for those who first day comes in the final year being a student. For them, it’s the last year they won’t have to spend the great majority of their time in class but will also spend time working and meeting up with friends. So they’re excited to make the most of it.  To get to meet more of their classmates. And to help make the campus a better place.

Because this is such a big moment in one’s career as a student, the respective Deans will also be making appearances. At Kellogg, Dean Sally Blount will be making remarks next Wednesday at the OLC (Kellogg auditorium). I look forward to trying to attend that session. On the law school side, the new Dean Daniel Rodriguez will be making remarks today, in just a few hours (CLICK HERE for more information on him).

As part of their overall speeches we look forward to hearing about their plans for this year and their visions for the future. Likewise, I’m sure many of my classmates look forward to hearing about how Northwestern is doing in the current economic climate. Particularly on the law side, where things are still picking up from the recent recession.

But perhaps more interesting than all of that is that the talks will bring the student body together and hopefully inspire more collaboration than before. To come together during times of change and help new leaders be as successful as possible. Either way, the first few days should be fun for everyone.

And either way, all good things must eventually come to an end. And over the next few days/weeks we’ll all have to buckle down and get to work. For 1Ls classes will start picking up pretty quickly so they’ll be in the library for much of the day. For 3L/3Js, we’ll work harder to finish up our writing and other requirements we need to complete. For 1st years at Kellogg, orientation will come to an end and classes and networking sessions will soon pick up. And for 2nd years at Kellogg, recruiting happens in just a couple of weeks.

Best of luck no matter which camp you fit into. And best of luck if you’re applying this fall in hopes to be part of the group next year.

Stanford Alum and Dual Degree MBA Candidate, Leland Cheung, Seeks City Concil Re-election

In the past few weeks, I’ve highlighted a number of interesting professionals that come from top universities and MBA programs. In my last post, I wrote about a Stanford GSB alum who is working on bringing more women to Silicon Valley. Before that, I wrote about a friend of mine that recently launched a social network after his run for Congress. Well another person I know is named Leland Cheung. Leland is not only a dual degree student at MIT Sloan and Harvard’s Kennedy School of Government but he is also currently seeking re-election for Cambridge City Council.

Since graduating from Stanford, Leland has had a pretty interesting career.  He’s worked at organizations such as Space Adventures and Masthead Ventures (venture capital firm). He’s worked as a fellow at the Department of Energy. And he’s worked not only with the community in Boston but also with the National Association of Asian American Professionals.

In addition to these roles, Leland also recently secured the coveted position as a member of City Council in Cambridge. And after one year in office, Leland is gearing up for his second campaign.

According to Leland’s webpage, it’s shaping up to be a busy month. He’s been holding town hall meetings around the community and talking about ways we can improve our city, working with summer interns and participating in panels at the National Association of Asian American Professionals (NAAAP) career fair.

What I find most interesting about Leland is that he is demonstrating the real power of a business degree. His education has not only allowed him to have access to top jobs and networking opportunities but also to the political landscape of Cambridge and its most important policy issues.

In my view, top MBA programs need many more people just like Leland. That understand that business school is not only about careers like consulting, banking and strategy, but also about entrepreneurship and the public sector. That you don’t have to take the traditional route to be successful. And that you don’t have to follow the masses, just because you go to a certain school.

Likewise, the JD-MBA program here at Northwestern could also use more people just like this. People who are not only considering corporate law and business jobs but those who are also considering government and entrepreneurial roles.  If you fit in that category, the program would love to hear from you.

Either way, best of luck Leland on launching your new campaign.

To learn more about Leland, see http://www.electleland.org/.

Alley To The Valley and Women in the Start-Up Space

Have you ever wondered what it takes to become the next big entrepreneur in Silicon Valley? Or creating an internet company that takes off, not only locally but also all across the US? Or what about forming a social enterprise that really does have impact and change the world?  Well if you have dreamed about doing any of this, then perhaps you’ll find this organization interesting. The organization name is Alley for the Valley.

I talk a lot on my site about some of my MBA friends in the start up and non profit spaces. Well another one of my friends is taking part in a new organization. The organization name is Alley for the Valley, and one of my friends Lauren Westbrook from Stanford GSB is currently working with the organization.

Over this past summer, Lauren has been working for a company called Alley to the Valley through Stanford GSB’s Entrepreneurial Summer program. The organization is very interesting. Not only is it an exclusive (invite-only) organization for women but it’s also making a lot of headway into the Silicon Valley start-up space.  As of today, it’s been in the NY Times, it’s getting a ton of media attention and momentum, and many of its selected members are starting to get major funding opportunities, coveted jobs, media exposure, a chance to attend conferences alongisde like Rosie Rios (U.S. treasurer), Heidi Roizen (Silicon Valley investor/expert), and Sheryl Sandberg (COO of Facebook).

My friend Lauren is helping to handpicking some new members, and and reached out to me to help spread the word. As such, I wanted to post here to send out information on the group. It’s great seeing my friends use business school to not only improve their own careers but also to engage in entrepreneurial ventures and work toward changing the world.

Click here to learn more about the organization. See below for the official invitation that I received. And drop me a line if you’re interesting in hearing more.

Attend a Kellogg MBA Information Session on September 6, 2011

The Fall season is one of my favorite times of the year.  Not only because schools starts back up again but also because the MBA admissions cycle is in full swing. That means students will become visiting campus, sitting in on the classes, and contacting current students looking for a golden ticket to gain admissions into top MBA programs all over the country. Well, in addition to that, a lot of programs also hold information sessions across the country. And one of them happens to be put on by the Kellogg School of Management in early September.

At long last, the admission seasons is finally ramping up again. As such, I wanted to write a quick post to inform you about an upcoming Information Session in Chicago.  Since Chicago is a hub for people that apply to the Kellogg School, I thought I would pass along the official invitation for the event, which is put on by the Kellogg admissions team. I suspect that many of my readers might be interested in attending.

The event will be the first of two events that are held in Chicago. This one will be held on September 6, 2011 and the second will be held on a date which is still to be determined.

In general, these events are always a lot of fun. Not only are they are a great chance to mingle with lots of potential business school students, some who may even end up at Kellogg but also a great chance to meet admissions officers and learn more about the school.

See below for a snapshot of the invitation for the event.

MBA Internship Final Presentations

Thousands of MBAs finished their first year of business school in this past spring and went off into the workforce to start their summer internships. Some of them went into consulting. Others into banking and finance. And another group went to marketing, operations, general  management and a variety of other positions. But no matter which industry people went into, most of them do have one thing in common. At the end of the summer, you have to make a final presentation to some level of managers regarding the work you did for the summer.

If anecdotal evidence isn’t good enough for you, then I’d suggest taking a look at Facebook immediately. See what all your MBA friends are saying about work.  I did just that this morning and saw a pretty wide variety of messages.

In one case I saw a message that said “Today I have to present my final presentation. Wish me luck.” In another example, a status message said “Working late hours to finish my presentation to my client.”  Even this morning, one of my classmates and friends working at Pepsi for the summer left a message on her wall “final presentation today!! wish me luck!”  Even at 9:49am she had 7 “likes” (including me) and 13 “comments”.  A number of comments say “Good luck.” Others say “knock em dead.” And one even says, “You will amaze them with your brilliance, I am sure :).”

So why so many responses to such a simple message? That’s a good question. It’s because most MBAs, especially those at top schools undergo the exact same experience. They have to present what they worked on at the end of the summer. And those final two weeks can be pretty difficult, depending on the employer, industry, and manager you are working with because in a lot of cases not only are the expectations high but the pressure people put on themselves is also high.

During that time, students often work harder to tie up loose ends. Put in more time to fine tune all the details. And spend more time prepping to deliver a compelling presentation to senior management. All with one goal in mind – to get an offer.

In addition to getting an offer, many students also hope to refine their presentation skills, prove they can add value to an employer (even in two months), and even just make a good impression. After all, you never know if you’ll run into some of your summer co-workers again.

Either way, no matter what the reason is, if you just finished your first year of business school and find yourself with an MBA summer job, there’s a pretty big chance you’ll be doing exactly the same thing.

In sum, for those that just finished their presentations in the last week; congratulations.  For those finishing up this week; best of luck wrapping up.   And for those entering school now waiting until summer 2012 for their summer internship experience; get ready. Your time will come next sumer.

Applicant Question: How is Your Time At Vedder Price Going?

Everyone in business school and in law school hears this question a lot.  How did your summer go? Did you like the work you did? How did you like the firm and the people there? Do you want to go back? It’s what a first year asks a second year at Kellogg. And what a second years asks a third year in law school. Well, in a recent question from one of my readers, I was asked how things are going at my law firm (Vedder Price) this summer. See below for the question; and below that for my response.

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READER QUESTION

Hi Jeremy:

You said you were employed at a law firm. How is that going? Are you working for the litigation department or the corporate side? What is your area of specialization? Would you mind describing a typical day as a summer associate?

Cheers,

(Name)

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MY RESPONSE

Hi (name),

Thanks for reading and for your question about Vedder Price.

Overall, my experience so far with Vedder Price has been quite good.  As a bit of background information, I was lucky enough to get a job there as a first year law student, which was especially nice last year during the middle of the economic downturn.  So this is actually my second summer at the firm.

During the last summer, I worked across many of the practice areas. I worked with the corporate group and investment services group, and I also worked  with the litigation and employment groups.  Within those groups, the assignments always varied, where I worked on mergers and acquisitions deals, construction litigation cases, non-profit litigation memos, executive compensation negotiations, and employment law disputes.  I really enjoyed my time there and appreciated to opportunity not only to get a wide range of legal experiences but also to do so during my first summer.

This summer, my experience with the Firm has been a lot more focused, but still very positive overall. It started at the beginning of the summer, when I was attending all the social events and getting to know people, even when I was still working at my first employer, a management consulting firm. The firm had dinners, happy hours, baseball games and WhirlyBall just to name a few activities.This really confirmed how much I liked Vedder Price.

Just this week, I officially started back up at the firm, and I joined the firm’s Corporate group. Specifically, I am working with the Finance and Transactions team, which is headed up by the firm CEO and President, Mr. Michael Nemeroff. Ironically, I will be meeting up with tomorrow afternoon to talk more about the group; it will be good to chat with him more about the firm and how things are looking for the future.

In general, the Finance and Transactions group is split up into two parts: Mergers & Acquisitions and Financing.

The Mergers and acquisitions group works on every aspect of corporate strategy, dealing with the buying, selling, dividing and combining of different companies and similar entities. Most M&A transactions touch on a variety of specialty legal practice areas, including intellectual property, employee benefits, executive compensation, taxation, antitrust law, environmental, real estate and estate and financial planning.

The Financing and Secured Transactions attorneys represent borrowers, lenders, and mezzanine financiers in a broad array of transactions.  Lending clients, including commercial finance companies, banks, trustees, credit providers and other institutional lenders, receive the benefit of Vedder Price’s experience in structuring asset-based, general commercial and cash-flow loan transactions, loan restructurings and equipment leasing transactions.

In general, most new F&T lawyers at Vedder Price start off working both with the M&A group and the financing group. Then after spending about a year working across the groups, they tend to choose one path or the other depending on their interest, work flow, and partners they tend to work with.  I suspect I’ll be taking the same approach during my time.

This past week, I’ve spent a bit more time on the M&A side, helping with contract reviews and due diligence.  But since I’m only at the firm for a few weeks, it’s hard to see the full deal. Further, I’ve spent equally as much time meeting folks at the firm as I have working on projects.  So far, it’s been great, and I look forward to seeing how the rest of the time here goes. And when I do, I’ll be sure to update on everything.

Stay tuned to hear how the rest of the summer goes.

Planning Our KWEST Trip to Ecuador

I’ve alluded to it a lot the past couple of weeks already, but recently, I’ve been doing a lot of planning for my upcoming trip to Ecuador.  Because I got to know one of the travel guides early in the the school year last year, I have taken the lead on a lot of the planning on the trip this year. And boy has it taken quite a bit of time. Fortunately at this point, the itinerary is just about set, and all of us are very excited to leave for the trip in two weeks from today.

At long last, we’re finally only two weeks away from embarking on our trip to Ecuador.  But getting here hasn’t necessarily been easy. In fact, this summer has been and will continue to be busy planning. Because not only did I have school and work this summer,but I also had to help finalize plans for the trip.

Just today we had a 90 minute planning call. On the call, we walked through the details of our itinerary for every single day. We came up with questions for our tour guide.  We thought about the pre-party we’ll have the night before we leave. And we brainstormed games and ice breakers to play not only during the pre=party but also for each day on the trip.

In addition to all of that, we also thought about the packing list we got from our tour guide. We discussed which backpacks we might buy for the trip. How much we planned to spend on all of our items. And also how soon we needed to buy everything given we’re leaving in two weeks.

But even after our 90 minute call, there are still a lot of things we still need to figure out. Later this week, we’ll set up another conference call with the travel planner. And after that, we’ll probably have another phone call later in the week to talk about more of the details.

Why so much planning you ask? Because in the end, these trips are enormously important at Kellogg. It’s the way that 20 students are first introduced to the Kellogg family. And more importantly a way to showcase the teamwork orientation at Kellogg. To help them travel with an interesting group of classmates who they’ve never met before. To give them activities and mixers to meet their classmates. And to facilitate discussions with everyone that don’t focus on work but instead on all the other things that make them unique.

It will definitely be interesting to see who ends up on my trip. Stay tuned to hear more about our trip to KWEST Ecuador.

Northwestern Law Announces New Dean Daniel Rodriguez

After almost a year of searching, just last week, Northwestern Law school named a new Dean, Daniel Rodriguez. This comes after former Dean David E. Van Zandt ended his 15-year tenure as dean of Northwestern Law last year.  While Dean Van Zandt will definitely be missed by the students, faculty and administration at Northwestern, everyone still agrees that it’s very exciting to have the new dean.  Not only is Dean Rodriguez professionally accomplished but he’ll also bring a fresh perspective and net set of experiences to the school.

Daniel Rodriguez will take the post Jan. 1, the university said in a news release. And it sounds like everyone at Northwestern can’t wait to for him to arrive.  Northwestern Provost Daniel Linzer said “Northwestern President (Morton) Schapiro and I are extremely pleased that professor Rodriguez, who is known nationally for his legal scholarship and public law work, has accepted our offer. We are confident that his talents are well suited for leading our great law school.”

One reason everyone is excited is because the new Dean is very accomplished. Currently, he holds the Minerva House Drysdale Regents Chair in Law at the University of Texas School of Law. Rodriguez’s background is also impressive. Not only is he a graduate of Harvard Law who is published in a wide number of places, but he was also even named one of the nine transformational deans of the decade in an article by the ABA Journal. Above the Law wrote a similar article about him.

For current and incoming students at Northwestern, it will be interesting to see how things change over the next year or two. Will there be changes in the curriculum? Will the composition of the student body shift over time? Will Northwestern continue to come up with innovative programs that others schools haven’t considered yet?

It’s too early to answer all of those questions now. But it’s worth remembering that it was Dean Van Zandt was one of the early founders to the accelerated JD-MBA program at Northwestern. A program that not only caught on but that also took off. So much that schools like Yale, Wharton/Penn, Columbia and Cornell to name a few, have already followed in Northwestern’s footsteps to create programs of their own.

As a result, it looks like Rodriguez has some big shoes to fill.  But I’m sure he’ll be up to the challenge given his background, legal training, and diverse set of experiences. The only question now is, what is Rodriguez going to come up with next?

In anticipation of his arrival, just a few days ago, Northwestern Law also wrote a press release about the Dean’s appointment that it sent out to students. See below for the email that went out to the school.

Congratulations and best of luck to the new dean!

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To:      Northwestern Law Community

From:  NU Provost Dan Linzer

Re:      Northwestern University Announces New Law School Dean

It is with great pleasure that President Schapiro and I announce that Daniel Rodriguez, currently the Minerva House Drysdale Regents Chair in Law at the University of Texas School of Law, has accepted our invitation to serve as Dean of Northwestern University School of Law and Harold Washington Professor, effective January 1, 2012.  He succeeds David Van Zandt, who had served as the Dean of the school from 1995 to 2010, and Kim Yuracko, who has been serving as interim dean of the School and will continue to do so until the end of the calendar year.

Professor Rodriguez, a graduate of the Harvard Law School, is a nationally prominent scholar in administrative law, local government law, and state constitutional law.  He is a leader in the application of political economy to the study of public law, and he has authored and co-authored a series of influential articles and book chapters in this vein.

Before joining the University of Texas law faculty in 2007, Rodriguez served for seven years as Dean and the Warren Distinguished Professor of Law at the University of San Diego School of Law.  While serving as Dean, he expanded the size and stature of the faculty, created interdisciplinary programs and new academic centers, and undertook the first major capital campaign for the law school.

Before becoming Dean at the USD School of Law, he was a tenured professor of law at the University of California, Berkeley (Boalt Hall School of Law).  He has been a visiting professor at the University of Southern California, Illinois, and Virginia law schools, as well as at the University of California, San Diego and the Free University of Amsterdam.  During the Spring 2011 semester, he was the Stephen & Barbara Friedman Visiting Professor of Law at Columbia Law School.

In addition to his scholarly work, Professor Rodriguez has consulted with federal, state and local agencies, has served as an expert witness, has testified before Congressional committees and legislative working groups, and has served in various professional leadership roles, including as a member of the Executive Committee of the Association of American Law Schools and the Council for the ABA Section on Administrative Law and Regulatory Practice.  He is an elected member of both the American Law Institute and the American Bar Foundation.

We are very excited about the appointment of Professor Rodriguez as Dean of the Law School.  Please join me in congratulating him and welcoming him to Northwestern University.  Please also join me in thanking Interim Dean Kim Yuracko for her outstanding service, and the search committee, and particularly chair Shari Seidman Diamond, for the committee’s excellent work.

Cape Shore Foundation’s Race to Support the Environment

Hey Everyone, hope all of you are doing well.  As you know, I often like to spread the word, not only about things happening in business school but also about social enterprises that are changing the world. Sometimes world reknowned organizations that you’ve all heard about but other times about up and coming organizations that are having a big impact on their local community. Well, one of those local organizations in Boston is The Capeshore Foundation and my JD-MBA classmate Jon Wakelin is one of the Directors. As such, I thought I’d use my site to spread the word about the upcoming event.

Cape Shore Foundation is a 501(c)(3) non-profit organization that was founded in 2007 by a group of friends from Maine. Because they feel fortunate to have grown up in that environment, they wanted to use this nonprofit to help future generations have the same opportunity.  Well, one way they raise money is by having a 5k race every August in Boston. This year, that race is being held on Saturday, August 20, 2011 @ 9:00 AM in Artesani Park (1234 Soldiers Field Road Brighton, MA), and I highly recommend that any readers in New England consider attending.

CLICK HERE to learn more about the race

CLICK HERE to learn more about the organization

And see below for an email that went out to past participants

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Friends and Supporters-

If you’re receiving this e-mail, you have supported CSF in the past, whether it be through our Annual 5-K or one of our community cleanup events.  We truly thank you for your support, as you have helped us raise nearly $10,000 for local land trusts.  With your help we hope to increase our annual giving, and this year we have selected the Androscoggin Land Trust as the recipient of race proceeds.

CSF 5-K: This year’s 5-K will be held on Saturday, August 20 at 10:00 AM at the Artesani Park in Brighton, along the Charles River.  Here are some details

• Register for the 5-K here, or visit our website at www.capeshorefoundation.org.  (Note:  We’ve left Active.com for greener pastures!)
• Great prizes for the top 3 finishers (men and women) in all age groups (10 pairs of Reebok Shoes, Whole Foods gift certificates, pint glasses, and more)
• All registrants will get a free t-shirt!

Thank you for your support and we hope to see you all on Saturday August 20th!

Sincerely,
The CSF Team

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Cape Shore Foundation
www.capeshorefoundation.org

Choosing Classes at Kellogg and Northwestern Law School

Since the first day we stepped foot in Chicago, we all realized that we had a more limited schedule with classes that were curved, some that were required, and others where we could only be at Kellogg or the law school. Well this year things are changing just a bit. Not only do we get to pick every one of our elective classes but we also get to split our time between Kellogg and the law school. But despite being happy to finally have choices, for some, this is proving to be a daunting task given all the moving parts in the process.

With our final year in the JD-MBA program on the horizon, it’s finally time to bid for classes. We just started getting emails from Kellogg and from the law school over the past week or two. And as of now, we don’t have much time left before we have to start making some decision! Bids for Kellogg are due next Wednesday, just a few days from now. And law school bids are due in about two weeks. As such, a number  of JD-MBAs are spending a few hours thinking about classes this weekend.  Deciding which classes we want, planning our classes to align the schedules of both schools, and thinking about what classes they want to take before we are done with the program.

One class I’m considering is Entrepreneurial Law. On one hand, it’s one of the more popular and interesting classes at the law school.  On the other, it will probably cost me a fair amount of points. I also plan to take Negotiations and at some point this year Executive Compensation law, given my background on the topic and expertise of my law firm, Vedder Price.

Another class I’m considering is entirely new to Kellogg called Social Dynamics and Networks.  Just last year, the class was introduced by my MORS Professor (Uzzi) and it looks like it’s shaping up to be really interesting. And who could think of going through Kellogg without at least considering the class Managerial Leadership, by Harry Kraemer, executive partner at Madison Dearborn and former CEO of Baxter.

In general, most students hope to get a good academic experience but also want to have a bit more fun this year. After two grueling years of curved classes, struggling to learn new concepts, and tirelessly searching for summer jobs, some Js really want to focus on taking courses they want. Not just those that put them in the right place professionally.

Sounds exciting, right? Well, not too fast. Like most things, there are also some challenges.  The process of picking classes where the time works at both schools, where you have enough bid points, and where you end up content, not only with the class material but also the workload and professors is not always easy.  Similarly, some of might also have to think about recruiting now, which happens at both schools in August and September.

But either way, it’s a fun time to be in the program. And it will be interesting to see how things play out for us over time. So stay tuned to hear what happens! And best of luck to everyone that has to choose classes.

BeatTheGMAT and ClearAdmit.com Team Up on New Admissions Product

As you know, I spent a lot of time on my site writing about MBA admissions. Well rather than discussing topics that are on my mind today, I figured I’d devote this entry to promote two other organizations that give information and advice about the MBA application process. Recently, the BeatTheGMAT teamed up with ClearAdmit.com to launch a new product which looks like it’s going to be a hit with a lot of applicants. I also think it has the potential to be a great product, as I recently had a chance to do a review last weekend before the product came out.

Just a few days ago, BTG asked me to do a product review of their new MBA admissions tool – a class that is entirely online and that walks the user step by step through every part of the admissions process. BeatTheGMAT has been growing exponentially over the past year, and it sounds like they plan to continue to do just that with this new product. Here below is a short summary of my initial impressions.

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The good: The BTG and Clear Admit class does something that no admissions service has done before – they bring together admissions advice with the internet, allowing people to tailor the experience and leverage online to accommodate their busy lives.  They bring in graduates of top MBA programs and admissions teams to take you step by step through the application steps. And they tackle topics that are not only the ones most people are thinking about in the application process but also some you wouldn’t initially consider.

The bad: Admittedly, the online experience may not be for everyone. Some may prefer a real classroom experience, where you can change the direction of the class and go through Q&A as needed. Some people may simply find the internet to be distracting. And others may want to go through the experience/to a class with a group of people rather than by themselves.

More: Online social networks and classes are generally expected to be the wave of the future. This online network allows you to the service when you have free time. You can start watching classes as soon or as late in the process as you would lie to. You can watch and rewatch parts as needed depending on your level of understanding. You can take more notes on your computer as you watch to make sure you capture what’s being said. In addition to that, you can also access the material any time, A slides and outlines are downloadable and printable.

Another main benefit is the fact that the class has multiple instructors. While most other classes provide you with one main instructor, here you get to learn from three different experts, all with unique insights and  experiences in the admissions world. And together, they’ll tackle topics like how to research and select MBA programs, how to write your admissions essays, how to find letters of recommendations, how to market yourself in applications, and much much more.

If you do decide that an online class is for you, then Navigating the MBA Admissions Process might be a good option. The price is not cheap, but $249 is less than you might spend on some other types of MBA courses. You’ll just have to decide what works for you.

To learn more about the product CLICK HERE

And to learn via YouTube CLICK HERE

Apply to Work in Venture Capital as a 2012 Springworks Scholar

Venture capital has long been most of the most alluring industries in America.  Not only are the payouts high and the work satisfying but you also get to work with some of the most innovative clients on the planet.  So people spend months, sometimes years, looking for ways to break into the industry. Some network with every firm they can possibly get in touch with. And others submit applications year after year hoping for that one shot. Well, as of this year, another way you can break into the industry is by participating in the Springworks Scholars program.

Springworks is a San-Francisco based non-profit focused on increasing diversity in the venture community. Just recently, the firm has launched a scholars program for incoming MBA students to give them access to the venture community.  Founded by Kellogg alum, Jorge Calderon, this program looks to be a groundbreaking opportunity.

As I mentioned in a recent post about the Morgan Stanley Insights program (CLICK HERE to read that post) I love these programs that seek to improve the diversity in the labor force. They provide students and young professionals with access to new channels and resources. They give opportunities to people who might otherwise not have a chance. And they give hope that we can all pursue the American dream.

But there’s only one catch. You have to finish the application right away, as it is due in just a few days on July 15. See below for a blurb on the program and for the link to the application:

Our first initiative, the Scholars program, is designed to identify, develop & support ‘under-targeted’ (currently defined as minority or female) business school students interested in either venture capital management or start-up management.  This two-year program is intended to augment the resources provided to students at their respective universities with additional coaching, mentorship, peer support, curriculum and experiential learning.

For the online application, click here.

For the summary PDF, click here.

Deep Dive

Ever heard of the terms “bucket,” “scope”, “T-shirt size” and “baseball cards”?  These are all words that are not only used in the consulting industry but often overused.  Incoming consultants are expected to learn them quickly. Even summer MBA consultants are expected to pick them up right away when having discussions with project teams. That’s definitely been my experience this summer, and one term that has specifically stuck out is the phrase “deep dive.”

One word that I’ve heard of a lot this summer is the term “deep dive.” Doing a “deep dive” means doing an in-depth exploration of a particular topic. Sometimes it’s learning more about the specific industry your client is in. Other times it’s learning about a particular function or business model that you don’t know much about. And sometimes it’s learning about a really technical topic.

Learning about all of these can be pretty challenging on their own. It’s even more challenging to do deep dives in more than one, such as a new industry and a new function. From experience this summer, I am actually working in all three areas. Not only am I working in an industry I don’t have experience in but I’m also working in a new functional area and it’s a topic that enormously technical. So in some ways, it’s a really really deep dive.

As a result, I’ve spent a lot of time reading up on the industry and its issues. Writing and rewriting slides where I didn’t have enough technical understanding. Sitting in on meetings and phone calls trying to figure out exactly how everything works at the company.

In some ways it’s fun to learn and in other ways it’s frustrating. But in some ways that’s the life of a consultant. Always learning. Often changing industries and functions, some of which you enjoy and others that you may not. And working through new business models.

In sum, consulting is filled with deep dives.

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For your reference, CLICK HERE for a list of other words that are used in consulting.

McCormick Scholars Program and Northwestern

Hey Everyone,  I hope you are having a good summer and fourth of July weekend. My summer has been busy. That’s because summer is in full swing, so business and law students are working hard at their summer jobs. That means that we’re getting up early everyday, making long commutes into the city from Evanston, and working long hours to meet deadlines, and perform well. Sounds like an enormous task, right? I think so too. But despite that, I’m also working on another project.  As the 2012 McCormick Scholar, I’m also working on a pretty large media project that I just kicked off this summer.

Just a few weeks ago, I found out that I was selected by the McCormick Foundation as 2012 scholar. The McCormick foundation was program was established to educate a new generation of leaders in the media industry and continue the foundation’s support for journalism at Northwestern. The website says that the awards “bring to almost $32 million the amount the foundation has awarded to these programs in the 50 years since the foundation was created in 1955” and that “twenty full-tuition merit scholarships will be awarded over the next ten years to business students and they will be awarded based on leadership potential and commitment to a career in the news media.”

To be considered, I had to submit a pretty extensive application this past spring. The application mirrored an MBA application, and included submitting things like a resume, data sheet, essays, and recommendations. I personally spent a good part of my time crafting the essays, partially because I really wanted to win but also because the essays were related to things I was really interested in. The challenging part was that the application deadline fell right in the middle of the on-campus interview season at Kellogg, so it took a lot of effort to work on both. But all the work was worth it in the end when I found out that I had been selected.

In addition to the money and prestige of the program, the best part of the scholarship is that it offers funding for a media project I’m working on.  I spent a lot of time refining my idea, formulating a plan, and figuring out who else to get involved. Over the course of a few weeks, I’ve refined some of the details and found other similar initiatives to see what made those successful. For now the project is in stealth mode, but once it’s up and running I will plan to share more about this project.

Either way, thanks to the McCormick Foundation for the funding. Thanks to Kellogg School of Management and The Medill School of Journalism for the opportunity. And thanks to the faculty and former scholars for selecting me. I appreciate your support and look forward to being part of the community.

Stay tuned for more details about the project. And be sure to apply to the program, if you come to Northwestern and media is something that your interested in pursuing.

Tags: internet, Kellogg, Mccormick, media

When Do People Come Up With Ideas for Companies?

I’ve often wondered about that moment when the light bulb goes off for entrepreneurs. The minute when they first come up with their “big idea” that they thought could make them millions. The second they feel so compelled to take the “leap of faith” that they have no other choice but to do it. That instant when they realize they have an idea that just might change the world. Not surprisingly, those moments are quite different for everyone.  As a result, I wanted to take a few minutes to brainstorm a list of times when people come up with ideas for companies.

Below is  list of times when you might possibly come up with an idea for your next company.

1. When you spot something on the job that doesn’t work well and come up with find a way to fix it
2. You find something that frustrates you, that’s hard to use, and that could be better. So you make it better
3. When you’re laying down at night and can’t sleep, so you dream about your company
4. When you don’t have a job and have extra time, so you figure out how to start a company
5. In business school you see your classmates coming up wit ideas, so you come up with a similar one
6. Before business school so you can use the next two years to successfully launch a company at graduation
7. When they are tired of the corporate world so spend every night thinking about ideas so they can escape it
8. As an entrepeneur-in-residence at a VC firm, in business school, or any other organization
9. When you are painting, drawing, or doing anything else that lets your mind wander and be creative
10. When you set aside an hour of brainstorming time every day and one day everything comes together
11. Bouncing ideas around with friends or colleagues who are also in the entrepreneurship community
12. After spending years in an industry and getting a sense for the future
13. Technology changes and creates new opportunities for innovation in your field
14. During economic booms when people have more money to spend, so you create a place for them to spend it

Deadlines

One thing I’ve learned about business school is that there are a a lot of deadlines. Not only do you have to get a lot of things done but you also have to do them on a very specific schedule – two days to finish this, five days to finish that, three hours to finish something else. That concept also holds true in the business world. Especially for MBA-level jobs, where you’re given multiple workstreams, multiple emails, and multiple priorities, but just one job: to finish all of it on time.

I’ve written about how busy business school is before. In one of my favorite posts, I compared “business” school to “busy-ness” school (CLICK HERE) and how becoming too busy is actually bad for you. Well, in some ways that analogy also translates to the job you have. Not only do you feel just as busy as you are in class but you also put more pressure on yourself to do well because the stakes feel a little higher. You want to produce a quality work product. Make a good impression on your team. Ensure you do good work and your manager gives you a good review. And in the end get an offer, even if you don’t plan to accept the job.

But the real question then is at what cost? For some, they get it by doing exactly what they expected. But for others, that cost is running around scrambling to please everyone even if that’s not your personality type. For others, working more hours than you ever expected or wanted. Taking on more and more work from more and more people. And ultimately taking on more deliverables with quickly-approaching deadlines that would seem unreasonable to anyone not in business school.

Here’s the schedule. Follow it! Here’s the email documents for tomorrow. Read them all by 9am! I just sent you ten calendar invites. Accept them! And be on time!

And because you have multiple deadlines, everything becomes more important, so you speed up. Working like a machine, for a machine (boss), in a machine (company), with other machines (coworkers) who are all doing the same thing.

And eventually, the goal isn’t to produce a great work product. But instead to take on more workstreams than before, to work more efficiently than last time and to make better powerpoint slides and excel models. And once you finish that, then you can do more.

So in some ways, the MBA has become the new assembly line.  You move things forward as fast as you can. The  work becomes more specialized to help you speed up, so you only take part in a small part of the process. And things more automated.

Likewise, the work also never stops. Just like Toyota “never stops the line” a company’s project flow doesn’t stop either. They find more people to do more small parts. Buy new systems to increase their efficiency. And leverage operations technicues, such as optimal batch sizes, flexible resources, and critical path times, to keep the line moving as fast as possible.

But what if your company stopped the line on purpose tomorrow. And instead of figuring out more deadlines to give you, instead allowed you to spend all of tomorrow thinking about mind-blowing innovations for the company.  And what if your job wasn’t simply to hit twenty deadlines but instead to submit 20 game changing ideas that could change the company.

Not only would you be better off but I’m guessing the company would be better off. And if you had thousands of smart people doing this at the same time all over the world, then maybe the world would be better off too.

Just a thought. Maybe something to think more about when you become CEO of your company.

But until then, I need to go check my calendar to see what deadlines I have for work today.