Ask Uncle Bill

Ten Things To Do To Get Hired--Part 2

This one comes in handy if you are interviewing to be a Boy Scout leader.

6. Always be prepared.
You can never be too prepared for your first meeting with a potential employer. Before your interview, always browse the company's Web site. Find out as much as you can about the company's products, leadership, mission and culture, and prepare answers to common interview questions.

Ok.  How about reading the annual report and 10k's as well?  The web site will be propaganda.  The financials tell the real story.  Just google SEC and Edgar and you will get to the web site with the financials and commentary.

7. Be on time.
Whether it's an informational interview, an open house or a formal interview, always arrive about 10 minutes early. Allow plenty of time for traffic and poor weather.

Please stop.  Arrive 30 minutes early.  Or if you have a flat tire or get robbed and are 30 minutes late, rub dirt all over yourself and run panting into the interview.  At least they will remember you. 

8. Dress and act the part.
In a business setting, always dress in professional clothing in the best quality you can afford. Take the industry and employer into consideration, but a business suit is almost always appropriate for interviews.

Ok, this one is important.  I don't want to hear a bunch of stuff about clothes don't matter.  If you go into a store and there are two boxes of, say, crackers and one is a bit smashed you will buy the other.  Same with clothes.  They probably won't help you but they can kill you.  For men, if you are in doubt, go to Jos. A. Bank and throw yourself on the mercy of the staff.  Women, go to Liz Claiborne.  And don't forget the shoes. 

9. Listen more than you talk.
Even if you're nervous at an interview, try not to ramble. By keeping your mouth shut, you can learn valuable information about the company and avoid saying something that you'll wish you hadn't.

Don't know about that one.  The best training for interviews is to do a lot of interviews.  The more you do, the better you get.  If you are sitting there trying to figure out if you are talking too much, I think you will soon be in trouble.

Finally, number 10.

10. Ask good questions.
At the end of an interview, the employer will inevitably ask if you have any questions. Have a list of questions prepared that showcase your company research and interest in the position.

Maybe.  But I think you really should think about your closer.  Something not quite as radical as "I would kill for this job"  but something unique to really show you want it.

So that is it.  The ten things to do to get a job.  Pretty weak but not totally worthless.  The thing to remember is that getting a job is a job.  Spend 10-12 hours a day on it, read everything you can, talk to anybody that will talk to you, research, and you will get a job.  It may not be perfect but life isn't. 

Next week--ten things to get you fired.

Ten Things To Get You Hired

Came across one of those articles that when you see it you are sure it has all the answers.  Not really.  But let's take a look anyway.

1. Customize your résumé and cover letter.
It might seem faster to blast off generic materials to dozens of employers, but this will cost you time in the long run. Tailor your résumé and cover letter to each open position to clearly demonstrate how your experience fills the employers' requirements. For example, if you're applying for a public relations role, give your PR experience a prime spot on your résumé.

Not bad.  With today's technology there is absolutely no reason to send out a run of the mill, generic resume.  In the old days you did a resume, took it to the printer and ran off 500 copies.  If there was a mistake, you were screwed.  Today it takes a minute so take a minute and do it.  But beware mistakes.  I had a rule to toss a resume if there was a typo.  If somebody doesn't take the time to read their resume I don't think I want them to work for me.

2. Diversify your search.
If you've been responding to newspaper ads with no response, also post your résumé online, search some job Web sites, talk to your friends and attend an industry trade show. The more ways you search, the more likely you are to connect with the right employers.

Duh?  This is kind of worthless advice.  If you aren't doing this already, you don't really want a job.  Plus there are more ways to get a job then newspapers and web sites.  I had a friend who set a date of a month to get a job.  If he didn't have a job by then he was going to put on his fatigues (he was a Vietnam Marine), put on his medals, paint a sign and walk down Michigan Avenue in Chicago at noon.  Unfortunately, he got a job.  I really wanted to see that.

3. Don't go solo.
Your friends, family and former co-workers each have a network of their own -- and a friend-of-a-friend might hold the perfect lead. Don't be shy: Reach out to your network and let your contacts know you're on the job market.

More questionable advice.  See number 2.

4. Find a company where you fit in.
Browse potential employers' Web sites and ask your friends about what it's like to work at their companies. Employers are looking for candidates who would be a good fit and thrive within the company culture.

Companies are made up of individuals and departments.  It makes sense to check companies out but you may have a friend with a great boss, you join the company and end up with Captain Bligh.  The truth is you will never know till you get in there.  Also, don't shy away from companies in trouble.  There may be a leader in there turning it around and you could join a company just starting to take off.  Of course, it may go in the ground but, hey, it's not going to kill you. 

5. Don't get discouraged.
Experts estimate the average job search to last anywhere between three and 10 months -- and that means a lot of rejection. Keep at it: Your dream job is out there.

This is pretty stupid.  If you are just starting out, don't take 3-10 months.  You'll have a big hole in your resume plus you will be starving.  Take what you can get and figure out what you don't want to do.  Beware of 'finding' your dream job.  Looking for a dream job is an excuse for not getting a job.

Will look at the other five tomorrow.

Caught In Middle Management Hell

Saw this article and was pretty disappointed with it but read it anyway if you feel stuck.  http://biz.yahoo.com/weekend/midhell_2.html

Seems the article is about a bunch of people with good jobs, kind of, but can't move up because their geezer bosses won't keel over and get out of the way.  It appears that industry got all concerned about the 'brain drain' of aging boomers thinking about checking out that a HR campaign got started to keep them around.  Here is how they explain it because it makes no sense to me.

And that, oddly enough, is exactly what employers had in mind when they helped build the Gray Ceiling during the late '90s. Though at that time your 19-year-old neighbor was a dot-com entrepreneur and anyone over 35 was considered a dinosaur, forward-looking companies were starting to panic about the "brain drain" that could result if the boomers retired en masse.

So began the campaign to keep older workers kicking around. The Society for Human Resource Management reports that more than half (55%) of big U.S. companies are "giving managers the tools to increase retention of baby-boomers," including flexible or reduced schedules and retention bonuses.

Other factors are coming into play too. Thanks to federal and state laws against age discrimination enacted during the past 20 years, mandatory retirement has all but disappeared (airline pilots and CEOs are about the only employees who can still be compelled to stop working).

Then there's the financial squeeze: The age at which seniors can receive full Social Security is inching north (it's now 66) at the same time that employer retirement benefits are heading south.

Finally - as the squash-playing, real-teeth-possessing sixty-something down the hall can attest - having six or seven decades under your belt doesn't always seem that old.

But can't you just wait it out? After all, boomers have to retire eventually, right? Right?

HR strikes again. 

Actually, I do not think that having an old boss that won't get out of the way is the main reason people hate their jobs.  If an old boss is the real problem than you have a better deal than I had.  When I started out my boss was two years older than me, his boss was four years older and the VP was seven years older.  The only way to get rid of these guys was a well coordinated plane crash. 

And the guy I worked for was a jerk.  A beautiful guy outside of the office and smart, really smart, but a jerk.  An arrogant, condescending, brilliant jerk.  And I worked for him, on and off, for the better part of seven years.  So how do you survive and even prosper?

First, if you work for a jerk the other people in the company will know it.  Don't undercut your boss but make the most of your misery.  Turn your disadvantage into an advantage.  I found people coming to me to figure out how to get this idiot to approve something.  I soon had a cottage industry going in the approval business.  And those people owed me and I eventually collected.

The jerk will eventually get it.  Mine did but here is a story about another guy.  A friend of mine, a prince of a guy, got transferred to a plant run by a dictator.  But nobody at corporate knew the guy was a nut case until my friend, who had a lot of friends at corporate, started dropping a few hints.  Since some of the stuff was border line illegal the rumors ran like wild fire and the top guys eventually got wind of it and the guy was gone.  Overnight?  No, but eventually so try and tough it out. 

Yean, but how?  You can't change jobs every time you run into an issue so admit you got a problem.  And it's not you, it's the other guy, so develop a strategy for survival.

Network.  I hate that term but do it.  You may have to get another job so start meeting people and getting your name out there.  I didn't do enough and should have.

Get a project.  I was at a conference at Nestle in Switzerland and the CEO got up and said the company was not there for our personal well being.  No rot about passion or empowerment.  We worked and they paid us.  If you want to find a cure for cancer, do it in your spare time.  Only a Swiss could get away with saying that.  But he was right.  When I was working for that maniac, we bought a 100 year old house that needed a total redo.  I would get home and dive into that thing.  Sledge hammers smashed walls and my mind wandered.  It paid off, too, when we sold it for a 400% profit.  My brother-in-law got a punching bag and put it in his basement.  I prefer projects that have a postive payback.

Start your own company.  Nothing like planning for the future.  Everybody wants their own company but few do anything about it.  Look into it and start small.  With today's technology you can do just about anything except make cars from your computer.

Do something creative.  A great way to rise above a nut boss is to rise above it.  Write a story, a screenplay, research an article. 

Exercise.  It works to get exhausted.  Run, walk, swim, pump iron.  A side benefit is that you will be in such great shape that your boss will be scared of you.

Get an MBA.  Enough of that already.

The take away is do something.  Doing drugs or alcohol is doing something but I don't recommend that.  Do something positive is a much better strategy than waiting for your boss to drop dead.

I'm Going To Get An MBA--What Does That Mean? Part Six

Coming down the stretch.

This one sounds a wee bit technical so grab that computer geek and keep him warm.

Modeling
Disciplined thought is often based on analytical models: simplified, quantitative depictions of a complex reality that allow you to focus your attention on a few key issues. Management runs on numbers and models. Whatever your current level of modeling skills, improving those skills is a key to success. Even if you never construct models yourself, as a manager you will be a consumer of them; to be an intelligent consumer, you must know from experience the strengths and weaknesses of quantitative models. The base-level course focuses on models built using spreadsheets and, in particular, concentrates on optimization of spreadsheet models. A more advanced option focuses on the use of discrete event simulation to model phenomena subject to random influences. And if you have very strong modeling skills, two options explore the use of quantitative models in specific contexts. One concerns the use of models and analytics for the control of manufacturing supply chains; the second concerns their use in revenue and yield management, as practiced by, for example, the civilian airline industry.

Any time I see "discipline" I shudder knowing there is math and statistics and perhaps a professor who does not have English as the primary language involved in this type of class.  If it turns out to be all math this one could be a bear.  Just read the second sentence--"simplified, quantative depictions of a complex reality" and that scares me.  I'm all for making things simple but this doesn't sound simple to me.  So, all you liberal arts majors out there, watch out for this one.

One note--the course description says "Even if you never construct models yourself, as a manager you will be a consumer of them."  Let's get one thing straight right here.  Academics like to pump students up by calling them managers.  If you get an MBA you will not go into any company as a manager.  You will go in as an analyst or assistant where you can't do any real damage right off the bat.  You will be doing the 'model' or analysis or whatever grunt work they assign you so don't gloss over the details.  Pay attention to detail because that is how you learn the business.

Two to go.

Non-Market Strategy
Markets and the business environment are increasingly interrelated; conversely, the profit-maximizing activities of firms often give rise to issues that involve governments and the public. As a business leader, you will need to participate in complex decision-making involving the legal, political, and social environments of business. This area considers the strategic interactions of firms with important constituents, organizations, and institutions outside of markets. Beyond the base-level course, an extended option of the course uses analytical models to enhance your understanding of political institutions, while a second alternative concentrates on business law.

This could be pretty good.  It is highly dependent on the professor.  The writer of the course catalog is right--you will deal with government regulations, a lot.  I dealt mostly with the tax code trying to figure out what we could or couldn't do.  Didn't do much good.  The tax code is pretty illogical.  The group that deals with the government the most is HR so I always tried to avoid those people.

Finally, near the end.

Operations
This area addresses basic managerial issues arising in the operations of both manufacturing and service industries. You will learn about the problems and issues confronting operations managers and gain language, conceptual models, and analytical techniques that are broadly applicable in confronting such problems. The base-level course gives a broad introduction to operations. If you have some background in the subject, you can elect a course that is focused on business process design. If you have a very strong background, you may choose an alternative that is focused on the latest developments in global manufacturing.

This is an important class that is not important because you can't bring a manufacturing plant into a classroom.  So you end up with a lot of arrows beginning with raw materials, then assembly, then packaging, then warehouse.  Most executives never even see a plant because they are located in the boonies or overseas.  Because I was in international I saw a lot of plants and loved them.  It's fun to actually see what you are selling being made.  But as far as the class room goes, this one is just to be endured.

Well, that is it.  The first year explained.  The second year is just electives based on the core courses so no need to go there.  Plus the second year is spent looking for a job so not that important.  I really can't say if a MBA is worth the money or the time.  Actually, I can.  It may not be worth it but if you want to get ahead, it helps since corporations value them.  If you really want to get ahead, start your own business but that is a whole different subject.

I'm Going To Get An MBA--What Does That Mean? Part Five

These courses are starting to get a bit redundant but I said I would go through the process so I will finish it.

Managerial Accounting
To evaluate business strategies and outcomes, you need to understand the many ways that firms account for, control, manage, and utilize costs. In this area, you’ll learn about alternative costing methods, and how the resulting cost information can be used for decision-making. One of the base-level options emphasizes performance measurement and executive compensation. Another emphasizes strategic cost management and control. If you already understand cost accounting and alternative methods for determining the cost and profitability of different products, and you have career interests in either management consulting or general financial management, an advanced option emphasizes frameworks for “value-based” management.

This is the old fashioned Cost Accounting course with FIFO (First In First Out) vs. LIFO (Last In, First Out.)  In accounting this relates to inventory.  In Human Resources, it relates to people.  But for course purposes, this is one of those got to take it but don't expect it to be a lot of fun courses.  The takeaway from the course should be that there sure are a lot of ways to value something and accounting isn't as precise as one would think.  Think Enron here. 

On to the fun stuff.

Marketing
These courses introduce you to the substantive and procedural aspects of marketing management. You’ll learn about analyzing the needs and wants of potential customers, and creating and delivering goods and services profitably. Beyond the base-level option, one alternative uses learning-by-doing (through simulations), with an emphasis on business-to-business marketing; a more advanced option stresses the use of advanced statistical techniques in the practice of marketing.

Well, it should be fun but this doesn't sound fun.  It should be fun because this is where you get to play brand manager for Gatorade rolling out a new drink or somebody at P&G rolling out whatever P&G rolls out.  But this course has some pretty heavy math code words--substantive, procedural, advanced statistical techniques.  Actually, this is not all bad as major marketing companies usually have new MBA's doing a lot of statistical stuff before they do any fun stuff like commercials.  Kind of boot camp for new hires.

The dismal science comes next.

Microeconomics
The discipline of microeconomics is the foundation of much of what you study in business school, as well as being a tool of analysis of specific market and non-market interactions. The base-level course provides you with the essential frameworks and concepts to study market equilibrium, firm and consumer behavior, and competitive interactions through the lens of microeconomics. More advanced options spend less time on the basics and instead apply those basics to specific contexts, such as auctions, price discrimination, and business strategy. A very advanced option, for students with extensive background, teaches you to analyze difficult microeconomic issues empirically.

There are two economics--micro and macro.  Micro, as the name implies, means small like in individuals and companies.  Macr0 means big as in government or international economics.  Micro concentrates on stuff like consumer income and purchasing decisions while macro does GNP kind of stuff.  Get ready for a lot of charts showing behavior.  A classic would be the impact of gasoline prices on consumer spending.  Some people actually like this kind of stuff but most don't so something to be suffered through.

Just a few to go but this is just the first year.  But I'm not going through the second year because it is primarily electives based on the first year courses.  So we are almost finished with MBA school.

Side note.  One does get some interesting e-mail in this business.  Go to this guy's site and let me know if you can figure out what is going on.  http://us.f522.mail.yahoo.com/ym/ShowLetter?MsgId=9349_3015896_247507_1428_5700_0_7981_15830_3452982249&Idx=0&YY=11170&inc=25&order=down&sort=date&pos=0&view=a&head=b&box=Inbox

I'm Going To Get An MBA--What Does That Mean? Part Four

I don't know if these posts are doing any good (maybe people don't care what the courses are really about) but I'm going to finish what I started.  What I didn't figure on was how many courses Stanford made you take which tells me these are short condensed courses.  Oh, well, my mistake.

Financial Accounting
Business leaders must read, understand, and use corporate financial statements. The base-level options in this area orient you to using financial accounting data (rather than preparing such data) and emphasize the reconstruction and interpretation of economic events from published accounting reports. If you have the requisite background, advanced options allow you to pursue the nuances of global financial reporting.

A bit of a snob wrote this one..."the base level options in this area orient you to using financial accounting data (rather than preparing such data)"  Us MBA's don't want to get our hands dirty.  This is probably not a bad course and you should pay attention because figuring out financial statments is hard work and don't expect the guys in the contollers department to help you out.  And that is because they don't know.  These people are under tremoundous time pressure and they use GAAP (Generally Accepted Accounting Principles) and if you question their numbers they will throw that in your face.  Think of a major company--operations in 50 countries, 10 separate divisions, 50,000 employees and everything roles up into one balance sheet and income statement.  Trying to figure out the business is near impossible.  But if you dig into the numbers and learn the operations you will figure out how the company operates and you will become valuable and you will make lots of money.  But you will, and you have to, get your hands dirty.

Now on to the course for "people who want to work with people"

Human Resources (HR)
We will provide you with a framework for understanding and thinking strategically about employment relations and the management of human resources in organizations. This area draws on insights from the social sciences to explore how employment relations are influenced by cultural, economic, legal, psychological, and social forces. The base-level option emphasizes four fundamental topics: (1) the selection of employees; (2) the development of their skills (human capital); (3) the use of pay to motivate workers, and other types of incentives; and (4) the organization of the workforce into teams, hierarchies, and so forth. Options allow you to specialize in HR practices for high-skill “knowledge” workers or how HR practices vary across the globe.

Sounds like fun.  And it is, in the classroom.  Readers of this blog will soon get the impression that I don't like HR people.  That is not the case.  I have been frustrated with HR people but mostly I feel sorry for them.  Because they go into the job wanting to make life better for employees but they end up saying no.  No to raises, health benefits, promotions.  Then couple this with government regulations that never end and I'm surprised there isn't a HR manager jumping off the roof every morning.  Have fun with the class but it ain't real life.

From touchy feelly to number crunching.

Information Technology (IT)
Knowledge of technology – computing, networks, software applications, etc. – is a prerequisite for a successful manager. In this area, you will learn the implications of technology for managers and organizations. A meaningful course that focuses on particular technologies is difficult because rapid changes in any technology quickly render today's lessons obsolete. Therefore, you will learn fundamentals and trends, rather than a snapshot of the current status of different technologies. The base-level course in IT offers you a broad survey of technology, while more specialized and advanced options include courses on the uses of IT in manufacturing supply chains, electronic exchanges, and electronic commerce.

It's time to bring that Indonesia guy out of the closet again.  Watch out for this--"therefore you will learn fundamentals"  If you get a really mean old crotchety professor that could mean writing code.  My first experience with IT was the professor saying that behind all the bells and whistles, a computer system is really only a big adding machine.  That's when I went looking for the man from Indonesia and so should you.

More on Monday.

I'm Going To Get An MBA--What Does That Mean? Part Three

Trudging on we come to

Strategic Leadership
This course examines fundamental issues of general management and leadership within an organization. You will learn about setting an organization’s strategic direction, aligning structure to implement strategy, and leading individuals within the firm. You will master concepts, frameworks, and tools to assess an industry and a firm’s competitive environment, and to craft alternatives. You will study the interplay among formal structure, informal networks, and culture in shaping organizational performance. By integrating leadership theory, the lessons of practical application, and your own experience, you will develop skills and capabilities essential to leading others. And you’ll gain a better understanding of your own leadership preferences, strengths, and weaknesses.

Not sure about this one.  Long on promises but a bit short on details.  Or as they say in Texas; all hat, no cattle.  So will take it one sentence at a time--"examines fundamental issues of general management and leadership within an organization."  You may end up examing them but from this discussion you don't know what they are.  "study interplay among formal structure, informal networks, and culture"--this is code for networking and gossip.  "By integrating leadership theory, the lessons of practical application, and your own experience, you will develop skills and capabilities essential to leading others"--quite a mouthful but not exactly sure leadership is teachable.  Usually is learned on the job and in a crisis.  Classroom exercises are rarely crisis situations unless you didn't read the assignment. 

Here's my read on this course.  It could be life changing but I doubt it.

Ok, all you ex-liberal arts majors, watch out for this one.

Data Analysis and Decision Making
General managers require a sophisticated understanding of what you can (and cannot) infer from data, and how to use those inferences to make good decisions. Courses on Data Analysis and Decision Making provide you with analytical techniques for making smart decisions. If you have limited prior background, the base-level course covers topics such as probability theory and decision analysis (including decision trees, decision criteria, the value of information, and simulation techniques) and statistical methods for interpreting and analyzing data (including sampling concepts, regression analysis, and hypothesis testing). If you have more extensive background and/or quantitative exposure, you can select courses that cover topics such as advanced regression, conjoint analysis, and other statistical programs. These choices enable you to leverage your background by applying statistical techniques to specific applied topics.

My blood runs cold.  I didn't really like algebra or calculus in high school, college or grad school.  I just didn't see the relevance to problem solving.  I'm sure I have used all of these math subjects in real life without even knowing it.  If you're a liberal arts person you probably have the same attitude.  So here is how you get around this.  Go back to team and form a team.  Which is what I did.  Sitting there in statistics or calculus or whatever class I knew I hated, I looked around for inspiration.  And found it.  Somebody had to like that class and there he was--a guy from Indonesia with definite English issues.  But he was happy in this class because numbers are numbers no matter what the language.  He was in my marketing class as well and that was a different story.  He was petrified.  The prospect of making a presentation is bad enough but in English was terrifying to this guy.  So I cornered him and cut a deal--he would do the math and I would do the marketing.  Which is what business is all about anyway.  Find a way to solve a problem.  So don't let this course scare you off.  Just find somebody with a language problem.

Back to Finance.

Finance
Building from the fall-quarter course in Managerial Finance, you have two basic paths: you can learn more about investments and financial markets or you can hone your skills in the use of financial markets by individual corporations. Advanced courses allow students with more extensive background and experience in finance to extend your knowledge of financial markets and corporate finance.

Now we have an either/or.  Investments and financial markets means Wall Street or you end up as a financial salesman at Edward Jones.  I would go the second route which is the use of financial mrkets by individual corporations.  Corporate finance is pretty easy--once you figure it out.  (What isn't?)  A working knowledge of balance sheet preparation, cash flow analysis, capital ratios and debt vs. equity will get you a long way in the corporate world so I recommend that route.  Also, there is that old trick of finding what is wrong with any company by studying the balance sheet.  You can find the problem but not always the solution.  But finding the problem is half the battle.

We're getting there.  Remember the purpose of this exercise is to figure out what each course is really about so MBA school won't overwhelm you.  Or more importantly, scare you off.

I'm Going To Get An MBA--What Does That Mean? Part Two

The next course at Stanford is

The Global Context of Management
The objectives of this course are twofold: to help develop your understanding of the cultural, economic, financial, and political forces that drive the global marketplace and individual markets within the broader market, and to provide you with a framework for, and experience in, learning quickly about specific markets. You will understand the important questions to ask and answer when contemplating entering or allying in a new market.

Sounds like International for Dummies.  This course will probably concentrate on all the miscues that we dumb Americans do when we try to do international like ordering a Coke in a five star Paris restaurant.  I actually saw that once and even I was appalled.  For the most part Americans have huge inferiority complexes thinking everyone is smarter than us because they speak ten languages and went to an ecole.  Forget it.  You'd speak ten languages too if there were ten different countries within two hours of your house.  The thing to remember when dealing with foreign types is that we have the largest economy in the world and they don't.  Be nice but when push comes to shove that is the bottom line.  Doubt if they will include that in the course at Stanford.

Next up is

Managerial Finance
The aim of this course is to enable you to apply the fundamental ideas of financial economics to problems in the area of corporate finance. You will gain an overview of valuation principles, and how financial decisions – capital structure, dividend policy, investments, etc. – can affect valuation, learn basic principles of corporate finance from the perspective of a financial manager, and analyze many of the important financial decisions made within firms and other institutions

Wow, clarity.  Take this course and pay attention.  The key word here is overview.  A tendency of managers (and you are all potential managers) is to get tunnel vision and see only what impacts you and your division or department.  In Treasury or Corporate Finance you have to look at the company the way Wall Street or an investor looks at the company which is in its totality.  It is also the way senior management looks at the situation.  So if you want to get to senior managment you have to understand how the total company works.  Start thinking this way and you will have a leg up on your competition.  Don't cut this class.

The third class for today is

Managing Groups and Teams
This course introduces you to the structures and processes that affect group performance and highlights some of the common pitfalls associated with working in teams. Topics include team culture, fostering creativity and coordination, making group decisions, and dealing with a variety of personalities. You will participate in a number of group exercises to illustrate principles of teamwork and to give you practice not only diagnosing team problems but also taking action to improve total team performance.

I'm actually a fan of the team approach.  It works to bring people from various disciplines together to solve a problem as long as it is a team approach and somebody doesn't decide to hog all the glory.  Remember, as the football coach always says, there is no "I" in team.  But there is "me" so watch out.  Probably not a bad course as long as it doesn't degenerate into those silly exercises like falling backwards and somebody catching you.  I always kind of wanted to watch them just fall but that is slightly jaded. 

Watch out for this one-

Organizational Behavior
Building on the discipline of social psychology, this course helps you cultivate mindsets and build skills to understand the ways in which organizations and their members affect one another. You will learn frameworks for diagnosing and resolving problems in organizational settings. The course relates theory and research to organizational problems by reviewing basic concepts such as individual motivation and behavior; decision making; interpersonal communication and influence; small group behavior; and dyadic, individual, and inter-group conflict and cooperation.

Quite a mouthful.  Firstly, all organizational behavior, or OB which we called Out of Bounds, professors are frustrated shrinks.  Probably couldn't get into medical school and ended up in the business school for which they are totally ashamed but you got to make a buck so...they end up trying to figure out how organizations behave thus the name.  Don't think you will learn much here but it certainly is not a tough class unless you are a foreign student with a great grasp of mathematics but not a great grasp of English. 

People that do well in this class usually end up in Human Resources so be warned.  If you can figure out how to manipulate these people you will probably have a pretty good career.

Can't handle any more of this stuff today.   

I'm Going To Get An MBA--What Does That Mean?

I'm getting dragged back into this subject but will go there because it is important.   As I said in an earlier post the MBA was set up for non-business majors who somehow end up in commerce and don't know a thing.  The poor liberal arts major or education major can then get up to speed and compete.  That's the theory but not the fact as many, if not a majority, of MBA students are undergrad business majors who are just doing some retraining.  You know who you are so quit reading.

If you were a liberal arts, computer science or education major and thinking about an MBA here is the truth about the most important thing, the courses.  But first a fact or two.  Going from liberal arts to business school is kind of like going from liberal arts to plumbing school.  In liberal arts we spouted nonsense about the Industrial Revolution, the Sung dynasty and the role of the boyars in Russian society.  Fun but not really going to make you a lot of money in the long run.  Business school is more of making balance sheets balance and figuring out discounted cash flows.  Not real exciting but it is what you do in the business world.

Secondly, a little secret about business school.  If you get in, you will not get kicked out.  Grading is pretty easy in grad school.  If you don't show up for classes you will get kicked out but if you try, you won't. 

But what do you do in the classes?  I know what I did but that was a long time ago so went to the class catalog and found that some liberal arts types had invaded the writing so it is almost impossible to figure out what goes on in the class.  But Uncle Bill will interpert for you.

First, the traditional MBA is for two years with the first year being mainly requirements and the second year being requirements plus electives.  Forget the fourth semester--you will be so busy interviewing for a job that you, and the school, won't be paying any attention.

Finally, on to the catalog.  This is Stanford University Graduate School of Business.  Couldn't get in there unless I built them a building but did go for the Senior Executive Program so know the lay of the land.  I highly recommend Stanford if only for their golf course.

And the first course is--

FIRST YEAR COURSES

GENERAL MANAGEMENT PERSPECTIVES Your time at Stanford begins with a unifying academic experience to build community within your class and to give you a shared base for approaching general management problems. Every student in your class will study General Management Perspectives, comprising seven required courses in your first quarter and one required course in your second quarter. The goal of this coursework is to give you insight into the perspective of a senior manager and leader. Through the Perspectives experience, your faculty advisor will get to know you and your experiences, abilities, and aspirations. He or she will guide you in choosing the most challenging course of study to maximize your personal, intellectual, and professional development. You begin to shape your future here.

This doesn't sound like a course, it sounds like a party.  See what I mean about the liberal arts language?  Vague but not too threatening.  What's next?

Accounting Information
This course gives you perspective on key accounting concepts and role of accounting in markets and firms. You will learn the structure of financial statements, including balance sheets and income statements, and the accrual basis of accounting. In addition, you will cover the role of accounting numbers in providing information to investors and managers. Finally, you will assess the value created by a business or business segment, and the distinction between economic and accounting profitability.

Ok, finally some clarity and I have to give Stanford credit.  Their accounting classes are oriented toward USING accounting as opposed to DOING accounting.  If you are a manager you use accounting information, if you are a CPA or in the controllers department you do accounting which means just piling the numbers together but no real analysis.  This class is not easy but absolutely essential to business success because if you don't know how a balance sheet works then you will never be successful in business.  Us finance guys used to have fun with the marketing guys because a finance guy can take a balance sheet and in 30 seconds tell a marketing guy what is wrong with his business.  Inventories too high, receivables too long, margin too low, debt too high--it's a no brainer.  The smart marketing guy will then say "Tell me how to fix it?"  Then they have the finance guy because that is the tough question.  But anyway, this is a good but hard class.

Critical Analytical Thinking
Critical Analytical Thinking (CAT) will address issues that transcend any single discipline or function of management. In 15-person sections, you will analyze, write about, and debate fundamental issues, questions, and phenomena that arise in many forms in management. You will explore these critical issues broadly, as well as hone your analytic and persuasive skills. CAT will enhance your ability to identify critical questions when exploring a new business issue, to parse issues, to develop reasoned positions, and to make compelling arguments. CAT also will help you explore the principles and ideals that you will seek to uphold as a leader.

I've read this three times and have no idea what it is about.  Even looked for buzz words that would give it away.  Words like 'critical' and 'analytical' usually are code for math or computers.  Really not sure about this one but math and computer professors know that students hate their classes so they veil them in verbiage.  Watch out.

Ethical Analysis
In the winter quarter, you will take a course on ethical analysis. This courses emphasizes both frameworks for conducting ethical analysis (on what basis can you say that a course of action is or is not ethical), the analysis of ethical dilemmas (how do you think about situations in which different ethical precepts collide), and how to deal on a day-to-day basis with the practical issues of ethical behavior in organizations.

Oh, please.  Enough is enough.  This Sarbanes Oxley 101.  Believe me, if you go on to be a manager in a public company you will come to hate Sarbanes Oxley.  Take my word for it.  Also, business school will give you examples so black and white that only a psychopath would not be able to figure them out.  The real world is a bit different.  Here's one I heard about in Argentina--you are a pharma company trying to register a new drug, you go to the right ministry, they say you didn't fill out the form right and need someone that knows the local customs.  You go there and pay the 'consultant' a huge fee.  Part of that money goes back to the ministry offical.  A bribe?  You bet but a common practice.  What are you going to do?  I don't know but this course isn't going to give you the answer.  It depends on your moral compass and the moral compass of the company.

Will look at a more courses tomorrow.

And The Winner Is...North Dakota

The California legislature or something like that passed a new emissions law yesterday and it looks like Arnold is going to sign it.  I'm all for clean air but, and there is always a but, what is the economic impact of such a move?  I don't know.  It is always worthwhile though to view what people do since people vote with their feet.  They go where they get the best deal.  Housing prices in California would say people are dying to get there but they have had a negative migration rate and where are these people going to work if business decides to abandon California?  Actually, companies don't abandon places, they usually just don't do continued investment there.

Here's how it works.  A company wants to build a plant.  The choices are California or, say, Kansas.  So the bids go out and Kansas says cheap land, ample energy, 'reasonable' government regulations, tax breaks, a somewhat educated workforce.  California says 'screw you.  But we have better weather.'  Not a real hard choice.  The company picks Kansas. But it doesn't happen overnight.

So what is happening?  An interesting article in the Wall Street Journal indicates that the current hot spot is...North Dakota.  I have some experience with North Dakota.  My son's bomber group had two navigator openings--two in Louisiana and one in North Dakota.  They had three single nav's--my son, his roommate Tye and another guy.  Somebody had to go to North Dakota.  So the Air Force did a pragmatic thing--they locked the three guys in a room and said you figure it out.  Now my son is from Texas, Tye is from Missouri and the other guy was from Massachusetts (sp?).  They said you've been in the cold and you can handle it plus my son and Tye are pretty big guys and the other guy wasn't so...well, you can figure that one out.  To my son's credit he later offered to go since he felt bad about putting pressure on the other guy but the other guy said it was ok.  I thought that was rather noble but glad he didn't go because you can't get there from here.

But somebody is because here are the states that have had the fastest growth in per capita income-

-North Dakota

-Wyoming

-Montana

-New Mexico

-West Virginia

The losers are-

-California

-New York

-Illinois

-Michigan

The growth in the leading states is the result of energy resources (including renewable like wind power), technology, and financial services.  The thing about energy I kind of thought of but not the magnitude.  Seems that North Dakota, Montana and that part of Canada have a field capable of pumping out 200-300 billion barrels of crude on top of coal coming out their ears.  Wow.

But technology and financial services?  Great Plains is there as well as Microsoft's business systems division.  According to the National Science Foundation, North Dakota ranks number two in academic R&D dollars per $1,000 of gross state product.  Financial services?  Citibank and other bank credit card operations.

So how do the companies attract people?  Good schools, reasonable housing prices -the median is under $150,000, short commutes, the nation's lowest crime rate, and outdoor recreation, at least in the summertime.

The people have voted--with their feet.