Words of the Week – think outside the box
February 24, 2008
One of the original MBA buzzwords, think outside the box means to seek a solution to a business problem through creative thinking rather than typical lateral thought. The term originated from a management consultancy puzzle called the Nine Dots.
The goal of the Nine Dot puzzle is to draw four or fewer straight, continuous lines through each of the dots without lifting your pen. You should try it now.
Babcock School’s Done in a Day MBA Admissions Program
February 22, 2008
Wake Forest University’s Babcock Graduate School of Management recently unveiled a new admissions process called “Done in a Day” in which students participate in an “all-or-nothing” interview, and find out if they receive admission to the program within a matter of hours.
It’s a win for students because you avoid the lengthy application process, and it’s a win for the school because they get students that they know will perform well under pressure in class and as alumni in the business world.
The interesting thing to think about is how people from outside the US fare in this process. It seems very American to go in front of a committee, sell your potential and receive feedback the same day. The task calls for clear strategic direction, strong communication skills and a hunger for risk. Personally, I would love it. It almost makes me want to apply to business school again to see how I would do!
To read the entire article, click here.
Presidents’ Day
February 19, 2008
Interestingly, the national holiday celebrated on the third Monday of February is legally called George Washington’s birthday, not Presidents’ Day. However, because Abraham Lincoln was also born in February and never received his own national holiday, Washington’s day is now commonly called Presidents’ Day to honor Washington and Lincoln as well as the other US Presidents.
Government offices and banks are closed on national holidays. Government services like the postal service and trash collection don’t run, and public schools are closed. Some businesses are closed, but others use the holiday to attract shoppers. Presidents’ Day is known in the US for big sales, on everything from clothes to computers to cars.
Below are a couple of cool facts beyond saving 15% at your local shopping mall:
- Every year since 1862 a member of the US Senate reads Washington’s Farewell Address on (or near) his actual birthday (Feb 22) to remind current leaders of the ideals and principles of “the father” of our country.
- George Washington established the original Purple Heart as the Badge of Military Merit to honor every solider who “has given of his blood in the defense of his homeland.”
For more on George Washington, Abraham Lincoln and other US Presidents, click here.
Please note, at the time of this posting, the history.com audio version of Washington’s speeches was not functioning.
Words of the Week – Buzzword
February 17, 2008
Webster’s online dictionary defines a buzzword as “an important-sounding, usually technical, word or phrase often of little meaning used chiefly to impress laymen,” or “a voguish word or phrase.”
Parts of these definitions work for me. Buzzwords do tend to be trendy, although they can become overused very quickly in the business world, and they do often sound important because they sound technical. However, I don’t believe that they are “used chiefly to impress laymen.”
People adopt buzzwords because they believe the words perfectly capture difficult business concepts (i.e. going after whitespace). Learning buzzwords and using them correctly will help you understand the priorities of a company or institution and establish rapport with its members, making them especially important for non-native English speakers.
Every posting of “Words of the Week” offers a new buzzword. If you hear one in class or in a conversation with your study group that you’re not familiar with, email me at grayson@mbaintheusa.com and I’ll define it for you. If you’re wondering, I’m sure other people are too!
Valentine’s Day
February 14, 2008
Americans are expected to spend $17.02 billion dollars on Valentine’s Day in 2008 according to a recent study by the National Retail Federation. While people may have differing opinions on the holiday, it’s impossible to deny its consumer appeal.
The US Census Bureau published a list of the Top Ways to Celebrate Valentine’s Day according to household participation rates. I updated it with popular links for the top 5 if you want to indulge in your own Valentine’s Day adventure:
Greeting Cards 65%
Date Night 44%
Candy 38%
Flowers 32%
Gift Cards 29%
For more on Valentine’s Day including: history, fun facts and even dating tips, click here.
Happy Valentine’s Day!
art: Google images www.annerpino.com
It takes more than book smarts to succeed in the corporate world.
February 13, 2008
A few years ago, Arizona State University officials noticed an unsettling trend: Foreign-born graduates of the school’s MBA program were getting fewer job offers and making less money than their U.S.-born counterparts.
The reason was not academics.
Read the full article at The Arizona Republic
Words of the Week – whitespace
February 10, 2008
Whitespace is an undeveloped product category or business market that reveals opportunity for new ventures. For example, if your company was analyzing a new product launch and found Competitor A in the low price/low service segment, Competitor B in high price/low service and Competitor C in the high price/high service segment, you could explore the whitespace of low price/high service for your offering. If it works from a profit perspective, it could be highly valuable in attracting and retaining new customers. Personally, I felt like there was whitespace in helping international students plan and maximize their US MBA experience; that’s why I started this blog!
Happy Chinese New Year!
February 7, 2008
February 7, 2008 begins the Chinese Year of the Rat, and celebrations are happening across the globe from Beijing to New York. For your own Chinese New Year celebration here in the US, plan a theme night with a few of the ideas below:
- Give your house a thorough cleaning.
Chinese believe cleaning before the new year will sweep away evil spirits and bad feelings left over from the previous year.
- Decorate with paper lanterns.
Chinese New Year ends after 15 days with the Lantern Festival, making lanterns the perfect decorations for your party. For directions on making paper lanterns, click here.
- Wear red and gold.
Red signifies vitality and happiness while gold represents prosperity and wealth.
- Prepare a traditional Chinese New Year dish.
For a steamed whole bass with black bean sauce recipe, click here.
- Attend a Chinese New Year Parade in the US.
For details on the New York parade Sunday 2/10/08, click here.
For details on the Los Angeles parade Saturday 2/09/08, click here.
Mardi Gras – King Cake
February 6, 2008
I heard some commotion outside of my office cubicle today and, when I went to find the source, I discovered a new tradition! A colleague brought in a King Cake to celebrate Mardi Gras, the highlight of New Orleans Carnival which happens the day before Ash Wednesday, the first day of Lent.
For New Orleans Chef Emeril Lagasse’s King Cake recipe click here.
For more on Mardi Gras, click here.
