As you may have heard, recent studies have come out revealing that when kids have questions they need answered, a majority turn to Google over their parents. While this is definitely intriguing, it is at the end of the day quite expected from our younger generations. But what happens when you take our current dependence on search engines and narrow its scope, say, to one geographic location? Well my friends, you’ve got SanDiego.com, of course!
SanDiego.com is a one-stop destination and search engine for everything you need to know about San Diego, including how to get in, places to go, people to see, concerts to hear, restaurants to try – you name it! Started in 1994, it is a high ranked website visited by hundred of thousands of people each month and its operations encapsulate what we try to instill in our students as one of the top online MBA programs in San Diego.
One of its cardinal strengths? President John Ferry’s pride and passion for America’s Finest City, and his determination to spread that to people all over the world. You see, not only is SanDiego.com a perfect for residents to go to find new things to do around town; it is also ideal for both domestic and international tourists wanting to come in and enjoy the full San Diego experience – whatever that might be for them – because travel information and search options are available rightat their fingertips to make the entire process easier and more efficient. And with news and information that encompasses all domains of the area, anyone can find anything that suits them the best.
One of my favorite things about SanDiego.com? The coupons! With an eye-popping abundance of discounts, promotions, promo codes, deals, codes, coupon offers and even buying/shopping advice, they really turn San Diego into a shopping haven. Not only does this help us consumers, but it also helps local businesses reach out to us, find their target audience and ultimately increase their sales and expand their business.
A prime example of very smart affiliate marketing for students in our business management programs, SanDiego.com’s business model is noteworthy. This is also one of reasons they were awarded the 2011 Small Business Award for the Most Innovative Marketing Campaign. Their social media marketing and networking is excellent (I frequent their Facebook page for San Diego events and post many links from their website to ours) and all in all, they are one of the many reasons why San Diego is one of the happiest places on Earth!
While we are known for our online MBA programs and our Doctor of Business Administration and Masters in Leadership courses, our Hybrid MBA program is also what sets us apart from other universities. A Hybrid MBA contains both on-campus and online components for completing your MBA degree, providing a well-rounded graduate school experience that fosters both in-class instruction and discussion and an online component to keep other responsibilities you have and hone your time management skills.
Have you heard of a Hybrid MBA? What are your thoughts on the mixed in-class and online components for MBA instruction?
Transcript of the Video
[Question 1: Why choose CMU?]
[First Speaker:] We’re all out there to get ahead, and CMU was the right opportunity at the right time for me.
[Second Speaker:] The opportunity was right. It was also a course that I got to participate in and it wasn’t just online.
[Question 2: What do you think of the faculty?]
Faculty here is awesome. They are knowledgeable, they know their subject and they know how to teach. Absolutely helpful, couldn’t have been better. Really sent a message to me that this was a school serious about teaching us business in the real world and have all the time for me as a student.
[Question 3: How would you grade CMU as a university?]
[First Speaker:] Definitely an A, A+.
[Second Speaker:] B+.
[Third Speaker:] I’d give them an A.
[Fourth Speaker:] I’d give them an A; they meet my needs as a university offering courses that I am interested in at times that are convenient for me.
[First Speaker:] I just think that the personalized education is really amazing.
[Third Speaker:] This is so much more and they’re getting out of me than I expected.
Video Transcription by GMR Transcription
In an era where the people hold the power and web content merely expresses this, online reputation management plays a critical role in presidential campaigns. Business people and politicians alike could really benefit from higher education, namely a Masters in Leadership, because it gives them the tools they need to help their business/political campaigns at all levels and stages. Three examples of real life issues as evinced in Bush v. Al Gore, Obama v. McCain and Santorum’s recent Google “problem” are presented below.
Old vs. New Online Reputation Management
During the Bush v. Gore clash, Bush used the Constitution against the Florida Supreme Court in response to “stolen” victory allegations. Bush was validated by the ultimate Supreme Court ruling in claiming that the ballot recount was in violation of two constitutional amendments including the Equal Protection Clause.
However, the traditional route in online reputation management might no longer suffice as search engines have become more optimal and people everywhere are quickly learning how to use and utilize them. If, for example, social media and SEO were as big in 2000 as they are now, Gore could have garnered support and momentum by tapping into those channels and creating more viral components of his campaign. Bush could have done the same, which would have created an entirely new scenario for the eventual Supreme Court ruling. Our online MBA explores both the traditional and the new and covers how online reputation management can be effective in all scenarios.
The New SMM: Social Media Monitoring
Social media is infiltrating even the political hemisphere as shown in Obama v. McCain. The figures imply that social media monitoring – connecting to followers on their level – can increase popularity. The use of social media also allows for easy monitoring of voter sentiment and allows candidates to go directly to voters and address them directly. The candidate can then adjust views in response to what preferences the “statistics” are showing, gleaning them an advantage over non-social media users. Obama’s social media presence was very powerful during the campaign, which echoed his ‘grassroots’ ideologies and really gave his campaign a lot of momentum.
Search Engine Optimization is Not Just For Businesses
The most recent candidate, Rick Santorum, who has attempted to take the White House under the Republican vote and failed, was criticized for his conservative and degrading views on homosexuality. This spurred such online antagonism that a site dedicated to associating the Santorum name with a graphic sexual act went viral.
The process is one that is difficult to arbitrate, aptly termed a “Google bomb,” it does not allow for censorship. Many political candidates now choose to invest in search engine optimization to manage their online reputation as the age of digitalization progresses and delineates itself, with the view that the message that they want is the one that is heard. Although Santorum’s Google problem eventually subsided – somewhat – it added to Romney’s momentum and led to him dropping out of the race last week.
Stanley, one of our wonderful online MBA students from Kenya, reviews his experience pursuing his Masters in Strategic Leadership degree. With students spread across the globe, our online MBA programs really encapsulate our worldwide network of students and professionals.
We love our students and are blessed to work with such talented and truly amazing individuals! If you’re a current or past student, leave us a comment and let us know what you’re thoughts are.
Transcript of the Lesson
My name is Stanley, and I am pursuing Masters of Science in Strategic Leadershipof California Miramar University. Since I started the course it has actually made me disciplined in terms of time management; it’s impressive; its wonderful, the faculty staff are quite wonderful.
And the modules themselves are quite wonderful. They are quite… they are giving more information. You feel like you have got the skills required.
Starting your own business is one of the most exciting things anyone can ever do, and being able to do it without constantly worrying about risk is very important. Picking up the right small business insurance can make all the difference in the world when something goes wrong. It is very important to know your rights and take advantage of the best policies that are out there; otherwise, your company could find itself liable for a lot of money and compensation that you simply can’t handle. We go over this in our on-campus, Hybrid MBA and online MBA programs, but it is always good to review just how important business insurance is, especially for start ups and entrepreneurs.
Making sure that there is the proper amount of coverage available all depends on the type of business you do, and this is something that has to be assessed on a case-by-case basis. If a business owner is unsure of what type of coverage they might need, it is vital that they go ahead and consult with a professional. It might cost a bit but it is worth it.
Taking the time to find insurance for the office will go ahead and cover not only against mistakes made by the business, but in many cases it will also cover against fraud and theft that inevitable comes in many different forms. Making sure that this type of coverage is in place before opening for business can be especially important if the business is in a high-risk environment or field. Business insurance is absolutely vital for a business’ long-term survival in light of all the hazards that are out there, and forgetting this fact can result in some serious trouble for those who experience turbulence during the course of a business’ lifespan.
Making sure that everything is in place before making transactions or even announcing that you are opening is a good idea, and knowing the ins and outs of your particular industry is vital. So be sure to always practice due diligence.
Alright folks, there’s a simple truth we all know that has been ceaselessly drilled into our heads, repeated time and time again in an apparent effort to make us as dazed as we are annoyed. Guesses anyone? Anyone? Yep, you got it! Social media is… very… very important for businesses in the world we live in today. Hold on; let me take a step back while you digest that.
Okay I’m done, but there is something to take out of this. Yeah social media is great. Yeah social media never seems to distract us and take away from what we should be doing. But that’s just it. We all participate in social media networking in one form or another and all love that we can bring the far corners of the galaxy into the comfort of our own homes. But for businesses, social networking has become the most quintessential marketing trend in the past few years; and for MBA students – yes that means all of you in traditional, hybrid or online MBA programs – there is a lot more that you should be doing every time you log on.
1. Be social, join the Group. We all Like different Groups on Facebook all the time, but when was the last time you looked at the Group through the Administrator’s eyes? Who are they? What’s their primary objective? What are they doing to accomplish that? These are all questions you should be asking yourself when pressing that good ol’ ‘Like’ button. One of the biggest ways businesses engage and get noticed on Facebook is by participating in Groups, specifically Groups relevant to Influencers and their industry/niche, not necessarily their own. It’s an easy exercise and can really get you clarifying your social business vision every time you log on.
2. Look for the positives in Google+. And the biggest one? Social and search engine optimization. It is, after all Google’s brainchild, and it does, unsurprisingly, appear pretty high in search engine results. Although not many people are using Google+, register for an account, get used to the layout and how it works, and think about different ways you can optimize it for search engines. Pay specific attention to the ‘About’ section (hint: hyperlinks!) and photos (hint: geotag!). Although it will probably never match the Facebook empire, it has its purpose and that, as far as marketers are concerned at least, is to make Google happy.
3. Get Pinterested. It may still be new, but it is booming in popularity because of its easy usability and highly visual format. And while it’s really fun to endlessly scroll down and be bombarded with photos and images from Pinboards that Pinterest us (+10 me), it can serve myriad advantages for businesses when utilized correctly. (And in this case, ‘correctly’ means creatively, which really makes it a fun social network.) So hop on – you still need an invite to register so request one from a friend or request one from the site and wait a little longer – and look at what businesses are doing and how YOU could improve that. What are they missing? What do you and don’t you like about their Pinboard(s)? Simple questions, but very important to get a true business grasp on the emerging platform.
4. Hop on the Blog Bandwagon. I know I wrote a post on this a few weeks back, but now I will focus on blog networking and blog commenting. Find blogs on topics that peak your interest, notice the tone and style of the blogger, and go through what they’re writing a back. Since this is a topic that you’re interested in, are they writing about what you want to read? Or are they boring you with content on social media that you’ve read 10 times before? (Hmmm…) Regardless, start interacting in that blog and communicating with the community. (There’s a joke in there somewhere.) At the end of the day the most successful people in life are passionate about what they do. If you start looking at social media through a business lens about things you’re really interested, heck, maybe you’ve found yourself a career after you graduate.
I’ve only touched on 4 strategies and will get to more later, but for all you on-campus, Hybrid and online MBA students out there, these are simple everyday strategies that can really improve your online business sense. Whether you realize it or not.
This week’s MBA Mondays blog goes over the 15 Grand Strategies of strategic business management. Also known as ‘Master Business Strategies’, they’re the foundation for accomplishing both your short and long term business objectives. This is a fantastic video clip from one of our online MBA programs and is the backbone for a healthy and prosperous venture.
The course is taught by Sherri Petro, M.B.A. Ms. Petro is the President of VPI Strategies, a San Diego based marketing consulting firm, where she focuses on research, strategy and communications. Her mission is to assist organizations in becoming more sustainable by breaking down barriers, creating understanding and making connections. Ms. Petro is a nationally renowned expert on generational motivation and its impacts in the workplace. Ms. Petro is an Adjunct Professor at California Miramar University and a 2010 Outstanding Professor of the Year award recipient.
Transcript of the Lesson
Now let’s talk about the fifteen ‘Grand Strategies’ that you have to choose from when you’re trying to match your strength, weaknesses, opportunities and threats. These are often called ‘Master Business Strategies’ and they’re a basic foundation for what you’re going to be doing. They are long range; strategic; involve multiple industries, so this is at the top of the organization. Grand Strategy wouldn’t be chosen in each individual unit.
The first one, and I often get called in because somebody is looking for a smart growth strategy, or what you’ll see in the text is considered a ‘concentrated’ growth strategy. This is how you’re trying to maximize profits, dominate a market, “we are going to be number one, we’re going to have the best technology,” and it leads to enhanced performance. Then you’ve got another grand strategy, the second one called Market Development. This is where you put a lot of your bucks in marketing. It’s the least costly and least risky of the fifteen Grand Strategies, other than concentrated growth, which we just spoke about. It consists of putting a lot of money into marketing, distribution, advertising and promotion. You’ve got media selection, a lot of promotional appeals; this is where marketing gets the bucks.
A third Grand Strategy is product development. Think research and development, dollars going in; maybe Apple would be an example. Substantial money is going into taking existing products and services and putting them through the wringer, trying to get new bells and whistles and selling them through established channels.
A fourth Grand Strategy is innovation. Maybe 3M or Google might be an example of that. High profits with acceptance of a greatly improved product. And instead of facing stiffening competition, they go into new places and create the market. There’s new product life cycles and obsolescence.
Another Grand Strategy is horizontal integration – think of it as acquisition – where we’re really trying to take a look at the entire stage of the product marketing chain and pick up pieces of it. Vertical integration on the other hand, another Grand Strategy, is about the supply chain, where you’re acquiring firms such as raw materials or distribution and going throughout the supply chain. You might tend to do this because you’re looking for dependability of supply and making sure that you are going to be able to get your product and service out.
Another Grand Strategy is concentric diversification. This is about how you’re maximizing your strengths and weaknesses and this is where a lot of larger firms choose to go because they are acquiring multiple businesses. The ideal concentric diversification occurs when the company profits increase the strengths and weaknesses and decrease your exposure to risk.
Another Grand Strategy: conglomerate diversification. You’re paying particular attention to the profit patterns of the other companies that you’re taking a look at. So large companies will take a look at this strategy. Again, taking a look at the profit pattern, do we see increased profits over ‘X’ amount of years, then they’re a potential acquiring candidate.
Another Grand Strategy is turnaround. This is when a firm finds itself tanking, going down taking the slide. Could be because of external things, it could be because of internal things. Getting a turnaround strategy in requires a lot of change engagement in order to make things come through. There’s two forms of this type of retrenchment: cost reduction and asset reduction. The turnaround situation can be absolute and it really depends on how severe the situation is. Do you want to get yourselves involved in it, do you want to retrench, do you want to recover or ultimately do you want to choose another Grand Strategy?
You could divest – this is the sale of the firm or a major component of the firm. When entrenchment fails to accomplish what you wanted in turnaround, this is where you usually go. You could divest for a number of reasons. It could be an exit strategy. Sara Lee’s an example, not of an exit strategy but they got too big; they said, “we need to divest certain part of this.”
Then you’ve got liquidation. This is where the firm is sold in parts, not usually as a whole. It’s mostly for the tangible assets, and the organization is not going to be living any longer; you’re selling it off.
Another Grand Strategy is choosing bankruptcy, which we’ve seen in quite a few markets over the last few years. You have a liquidation bankruptcy, where you’re essentially taking things apart, selling things off to creditors, and then whoever owns the organization gets a small fraction of what they own. You’ve got a reorganization bankruptcy. So we’re talking about Chapter 7 to Chapter11.
Now I have mentioned that there were three strategies that end that are big right now. Joint ventures. Why joint ventures? Because it diffuses risk. You have two more capable firms looking at a really great opportunity, knowing that they can’t have it accomplished by themselves, and yet they want to be competitive. You could have commercial companies owned and operated, sort of like a child-parent relationship, a supplier-consumer relationship – a lot more of joint ventures in the last fifteen years.
So one of the other Grand Strategies that’s seeing a lot of players: strategic alliances. This is where the companies don’t take an equity position in one another – that’s what make them different from a joint venture – but a strategic alliance, you have licensing agreements, you’ve got a lot of stuff on paper and the arrangements vary, but you are going towards the same objective.
And the last Grand Strategy is called the consortia. In fact seeing a lot of these over the last five years, where organizations are coming together, big opportunity, know that even just with a couple of people in a strategic alliance are not going to be able to achieve them. So let’s go back to those big bucks and let’s get smaller portion of it. This is defined as the large interlocking relationship between businesses within a certain industry.
So far we’ve put the Spotlight on FortuneBuilders Inc. because of their innovation in the real estate industry, and Ludus Sports for their ceaseless passion and commitment to providing a community-based model for customer service. This week we are shining the CalMU Business Spotlight on the Karl Strauss Brewing Company for two major reasons: vision and innovation.
I’m not going to go over the history of their rise to the top of the San Diego brewing scene, as you can find that on their website or Wikipedia, but I will tell you this: entrepreneurial-spirited founders Chris Cramer and Matt Rattner started with a very unique and maybe even “crazy” idea; did their homework and spent countless hours turning back the hands of time in the 1980s to fight Prohibition-era liquor laws; and eventually risked everything they had to turn their initial idea into a profound vision.
You see, when they started in the late 1980s, San Diego County was still entrenched in a Prohibition mindset when it came to beer. Their vision was to create a completely new beer culture in San Diego and open a microbrewery that specialized in local handcrafted beer. (They also enlisted the help of Chris’ cousin and master brewer with over 50 years experience, none other than… you guessed it… Karl M. Strauss.) When they opened up shop on February 1, 1989, they had absolutely no idea how San Diegans would receive their innovative concept. They had invested so much time, money and effort into this vision they had that their microbrewery’s ‘Opening Day’ was essentially a make-or-break deal. But on that fateful day when they opened their doors (*cue inspirational music*), they found locals already lined up to get the first taste of their original 3 beers.
It has now been 23 years since their founding and their business has skyrocketed. Starting with just three beers, they now offer 10x that at 30, including a 6 year-round beers and a variety of highly reputed seasonals and specialties. In 2010 Draft Magazine voted the Karl Strauss Endless Summer Light brew as the best light craft beer in the US. Later in the year their Red Trolley Ale, an Irish red ale, received gold medals in said category at both the World Beer Cup and Great American Beer Festival. They also received a bronze medal at the Great American Beer Festival for their winter seasonal Two Tortugas Belgian Quad in the Belgian-style Abbey category.
Karl Strauss Brewing Company provides their beloved brews to over 2,500 liquor stores, grocery stores, bars and restaurants in California and now has 6 prime locations across Southern California. (And when I say prime, I mean PRIME… Downtown San Diego, La Jolla, Sorrento Mesa, Costa Mesa and the Universal CityWalk… try that for real estate.) Unlike other craft breweries across they nation, they have limited their scope and distribution to Southern California, but plan to slowly expanding both north and east.
The brewing company holds many events to benefit myriad charities and also strives to be eco-friendly by donating its used ethanol for fuel use. Management is committed to their employees with progressive benefits/compensation, bonuses for those who demonstrate the entrepreneurial spirit that got them to where they are today and help the company grow, and a 401(k) plan. Karl Strauss brews over 30,000 barrels every year in their state-of-the-art 2-story main brewery, bottling 250 bottles every minute. They currently have over 400 employees working from them in their main office, brewery and microbrewery restaurants, and grosses over $20 million every year. They have also been ranked 40th on the list of Top US Craft Breweries.
So thank you Karl Strauss Brewing Company, and especially Chris Cramer and Matt Rattner, for serving as the perfect example of how entrepreneurs can turn some “crazy” idea into a very successful operation. When you think about it, one of the key ingredients for success is being unique and adding a unique value proposition. If you stand out from the field, put in countless hours of hard work and cultivate your vision, you can really do great things in the world. And it doesn’t hurt when you’re brewing beer because, let’s face it, it never hurts to sip on a cold brewsky on a hot San Diego spring day.
So again, thank you gentlemen for teaching us all a lesson on how to build and grow a successful business; thank you for your vision and innovation in redefining the San Diego beer scene and reinventing local craft brews; thank you for inspiring our students in our on-campus, hybrid and online MBA programs; and thank you for giving me some ideas of things I need to try this weekend. We are honored to shine the CalMU Business Spotlight on you.
Okay so I know the title might be misleading because, well, Spring is always in the air in beautiful San Diego. But there are some activities that either only pop up this time of year or are just more fun to do when the “Winter” goes into hibernation. Here are some ideas to get your creative juices flowing and ensure you can never say, “But there’s nothing to do!” on the weekend. And for those in one of our online MBA programs, you can beat weekend traffic by doing some of these on a weekday.
Free Botanical Tours at Balboa Park
There are free 1-hour tours at Balboa Park starting bright and early at 10 AM (San Diego time). Visit the Park’s vibrant botanical gardens, including its award-winning Alcazar Garden, a floral garden that is a replica of the famed gardens in the Spanish Alcazar Castle, and rose garden with nearly 2500 roses in hundreds of different varieties.
The Annual St. Patrick’s Day Parade & Festival
Located right by Balboa Park, hop on down to the lively St. Patrick’s Day Parade and Festival and celebrate Irish culture how it should be celebrated: with good people, live music, overwhelming beer gardens and delicious fare. How can anyone turn down a St. Patty’s Day FEASTival?
The 29th Annual Old Town Fiesta Cinco de Mayo
One of the best Cinco de Mayo celebrations in the country (trust me, it’s amazing), enjoy traditional Mexican dancers swaying to the grooves laid down by very talented musical artists. And when you need to take a break from showing off your dance skills, check out some very well-done historical reenactments and stuff down some of the best Mexican food San Diego has to offer. Fiesta Cinco de Mayo is held in the Old Town State Historic Park from May 4th through May 6th (Fiesta Seis y Siete de Mayo actually…).
Humphrey’s Concerts by the Bay
For all of the music lovers out there, you all know how special Humphrey’s Concerts by the Bay can be. (One of the first concerts I ever went to was a Beach Boys show here; I still remember jammin’ out to ‘Surfin’ USA’ to this day.) There are myriad different artists that are set to take the stage this year on Shelter Island, so you know that there will be at least a few shows you will want to check out. And even if you don’t know the artists, who cares? What can top an evening of great music and good company under the calming, setting San Diego sun?
These are just a few San Diego springtime activities, but they are definitely highlights that will not disappoint. They are ideal for all ages, and especially as a study break for our wonderful students in our Associate Bachelors, Doctorate and on-campus, hybrid and online MBA courses. Happy Spring everyone, let’s make some memories!
We are very excited to introduce the newest section of our blog: the CalMU Business Spotlight. Each week we will be going to different cities and choosing a business that encompasses true business success, which will inevitably be diverse and different for every Spotlight.
For businesspeople, students enrolled in traditional, hybrid or online MBA programs, or anyone who is simply interested in business/economics/entrepreneurship/anything really, the weekly California Miramar University Business Spotlight Series provides a refreshing look at the myriad definitions of business success. So visit us every Wednesday and let us know at any time if you have any recommendations for the next Business Spotlight; we are always welcome to suggestions!
As the first Business Spotlight of our blog and after much research and deliberation, we are pleased to put the Spotlight on San Diego’s own FortuneBuilders Inc. They are one of the most venerated and successful real estate education entities in the United States and were ranked #1 in Education by Inc. Magazine, underscoring how they have really changed the entire real estate investment game.
Led by four very talented real estate investors – Than Merrill, Paul Esajian, JD Esajian and Konrad Sopielnikow – FortuneBuilders teaches its students how to intelligently invest, market, wholesale and drastically increase their ROI in the real estate market. They hold a Mastery Implementation Coaching Program, which is reserved for a small group of their “most motivated students” and is truly the pinnacle of real estate coaching.
For the other 99% of their customers, from beginning to advanced students, FortuneBuilders University is a brilliant program that provides a comprehensive step-by-step walkthrough of how to make a living investing in real estate. (And by living I mean a really, really good one.) Some of the world’s top real estate investors show you the ropes and work closely with you to ensure that you leave FortuneBuildersU ready to hit the real estate world, network and start seeing profits right away. What’s more, which is very important in the real estate world, this program provides you with many new contacts that are vital for networking and your future growth as a real estate investor.
According to the latest Inc. Magazine statistics from September 2011, the last 3 years have seen a staggering growth of 2629%, with their 2010 revenue ($14.2 million) nearly triple that of their 2007 revenue ($520,300). They were founded in 2005 and have grown to a staff of about 25 employees. I am very interested to see how they evolve as the real estate market improves and how that will affect their business model, strategy and overall bottom line.
Oh, and I forgot to mention that Than Merrill, Paul Esajian and JD Esajian also appeared on Seasons 3, 4 and 5 of A&E’s hit show Flip This House, which is about – you guessed it – purchasing a house, renovating it, and then flipping it for a profit.
FortuneBuilders Inc. is a real estate dream team and I am very honored to be featuring them as the first ever CalMU Business Spotlight. If you are looking to go into real estate, do not forget about their programs. You will definitely come out with a better understanding about every process of investing and a more complete toolkit to start making the big bucks.
If you’re considering or are already in the midst of completing an online MBA, it’s a good idea to get hands-on job experience even before you graduate. Online MBA programs enable you to study as you please and gain valuable work experience that, when coupled with your degree, with undoubtedly give you a leg up on your competition. As with any chosen field, there are jobs that are excellent training for an MBA candidate and those that are less beneficial. Here are several of the best jobs for experience when you’re pursuing an MBA degree.
If you ask recruiters, professors and MBA graduates which job is perfect for you, you’ll likely get several different answers. Investment banks and banks in general are typically a great place to get on the job experience for an MBA. Where else would you not only work directly with money, but also learn about investments and banking practices? Nonprofit organizations are also a good place for individuals seeking an online MBA to get experience in managing finances down to a zero balance. If you’re up for more challenges, immerse yourself in an investment firm and watch the professionals throw money into and out of investments throughout the day, subjecting you to valuable experience that will make you stand out with future employers.
The most important thing to take into consideration when seeking a job to gain experience is what your goal is after graduating from traditional, hybrid or online MBA programs. If your interests lie in management, you may find it easier to shadow a nonprofit manager rather than one who works at a bustling investment firm. An MBA can be used in nearly any field, so if your side interests include history, working in a local museum can give you experience that meets your educational needs as well as your interests. Restaurants often have MBA graduates at their helm, either on the scene or behind it, so don’t rule out your favorite dining establishment for great job experience.
No matter what you want to do later in life, gaining work experience is vital to advancing your career and making yourself stand out to employers after you graduate. Know what you want to do but don’t be afraid to think outside of the box and take risks. After all, doing something innovative and unique will show future employers that you are willing to take risks and will do whatever it takes to come out on top. Oftentimes the path less traveled leads to a more promising future.
With the world constantly turning into a global community, more and more businesses and industries are focusing on catering to the world market. As consumerism and industrialization increase around the globe, resources are fast depleting and there is a demand for both conservation and research into the development of new resources and discovery of alternate resources.
The business community world over is currently faced with several environmental challenges, and for them to be able to successfully manage production and impact on the environment, there is a need for a green MBA. The New Year holds endless opportunities for green MBAs and Universities are now providing great online MBA programs that allow students to work and study. Further, introducing sustainable business concepts and development in already existing programs is something that should be stressed and we take pride in emphasizing in our courses.
A good, accredited MBA offers a green curriculum that covers many aspects of green science and conservation. Most programs focus on teaching through a combination of theoretical and practical methods that aid green MBA students in problem solving, whether it is coming up with energy conservation ideas or incorporating ecological aspects into a project while keeping costs under control. Since more programs are beginning to grasp and emphasize sustainable business development and practices more than ever, going green doesn’t necessarily mean getting an MBA in sustainability or environmental business. It simply means stressing good business relations that stay in line with the capitalist market but are geared towards forming and maintaining strong business and social relationships.
With most resources fast depleting many industries are looking for green MBA’s, namely the beauty industry, the oil and gas industry, the government sector and the construction sector. Green MBA’s allow these businesses to work without harming the environment and help them become responsible businesses and help them manage social responsibility. An MBA in Sustainable Futures, Environmental Stability or Energy and Development is quite a great choice as the demand for employees who can help a company manage its environmental responsibility cost effectively is quite desirable.
But whether or not you want to go for the strict definition of a green MBA is irrelevant. No matter what you study, MBA programs worldwide are stressing sustainability with many different backdrops.
Admissions committees at both traditional and online MBA schools must sift through thousands of applications each year. To make yours stand out, focus on writing an MBA admissions essay that lets your personality shine. Admissions officers read these essays to get a feel for the real you, to gain insight that cannot be deduced from your transcript and resume and to understand what makes you, well, you.
Career Goals
Where do you picture yourself in five years? Show admissions counselors that you are serious about your future by including both short and long-term goals. Do not just tell them what you want to do; instead; describe how their online MBA programs will help you get there.
Attributes
Anyone can write that they are a hard worker, have masters leadership degree worthy skills or can learn new concepts quickly. Instead of just listing your positive attributes, couple each one with a brief anecdote that demonstrates your capabilities.
Work Experience
You can use your essay to elaborate on your resume. Write about what you gained from your work experience and how it will make you successful in on-campus, hybrid or online MBA programs. Remember that this is probably one of the most important things to include and elaborate on. Having knowledge of and experience in the ‘real’ world will set you apart from other applicants and show admissions officials that you know where you’ve come from and what you want to do with your MBA degree.
Real World Experience
Going off of the last point, your life outside of work is just as important as your office life. Write about your ability to work with diverse groups of people, positive outlook or great sense of humor. Remember, admissions officers want to see your personality, so let it shine.
Presentation
Admissions officers may love your ideas, but your essay will be overlooked if it is riddled with typos and/or grammatical errors. Proofread multiple times and have someone else look over your essay. A fresh pair of eyes can often find mistakes that you overlooked.
Most people reading this probably know what encompasses an MBA and understand it is possible to pursue online MBA programs. While students are focused on developing themselves, their skillsets and their careers, they might also lose focus on the responsibilities that go along with being a business leader in the ‘real’ world. It’s essential to make ethical choices because globalization means increased cultural diversity and bad choices can turn into public relations nightmares in the present and down the road.
It is often said that stockholders hate a bad quarter more than public relations, but unethical choices affect everyone, including the parent company. The average person is the customer in many cases, and businesses do not prosper by insulting or harming the interests of those they serve. Remember, for most businesses it’s all about customer service; that’s what makes impressions and will set you apart from the competition. No matter what social or political affiliations you have, ethics transcends difference and is ultimately the tie that binds people together and drives B2C and B2B relationships.
In addition to losing customers and losing face, unethical choices might also be mechanically bad. After it was discovered that Enron Corporation had lied about its gains for many years, and its stock plummeted. This is essentially because investors lost faith that Enron could reliably pay dividends in the long-term and that it had fewer assets than the truth. The loss of credibility and the fall in stock made Enron undesirable to do business with and so what partial value it still had was also destroyed.
The pressures of delivering a good message make the temptation to lie overwhelming, and also to do very risky things to make gains. High risk maneuvers can succeed initially, but eventually the gambler falls against the odds. It is unethical to play roulette with other people’s money, and it is also financially disastrous.
Ethics include bad business choices, but also legitimate things that still attack the public interest. Remember that society is the whole, and that corporations and businesses are organs. The part must facilitate the whole for both to profit. Ethics is something stressed in our on-campus, hybrid and online MBA courses and we take pride in knowing that we are contributing to the world in a morally just way.
Starting your own business is one of the most exciting things anyone can ever do, and being able to do it without constantly worrying about risk is very important. Picking up the right small business insurance can make all the difference in the world when something goes wrong. It is very important to know your rights and take advantage of the best policies that are out there; otherwise, your company could find itself liable for a lot of money and compensation that you simply can’t handle. We go over this in our on-campus, Hybrid MBA and online MBA programs, but it is always good to review just how important business insurance is, especially for start ups and entrepreneurs.
