MBA JOURNAL(Harvard) From BW

chipmunk

INTRODUCTION

Arash Farin: Who I Am and Why B-School is for Me

In a little more than a week, I will embark on an educational experience at Harvard Business School (HBS), described by friends as both "a totally mind-altering experience" and "two of the best years you'll ever have." I'm looking forward to experiencing everything the school has to offer, from interacting with students from all over the world to engaging professors in thoughtful discussions (50% of our grades at HBS is based on class participation, after all!). I also hope to recount my experiences over the next two years for BusinessWeek Online readers in a way that provides calculated advice and inside tips not found anywhere else. But first, a little about myself.

I spent my formative years in Los Angeles, learning my way around the city's remarkably diverse student body and sometimes troubled public schools. I was the younger of two children in a middle-class family where academic prowess was continuously reinforced, creating a quasi-competition between my sister and myself. As immigrants to America from the Middle East, for my parents there simply was no other way. Their childhoods in Iran had been simultaneously meaningful and difficult. While they were raised in traditional Jewish families, steeped in the myriad traditions of their faith, anti-Semitism, poverty, and a lack of opportunity remained inherently problematic, leading to a desire to escape to this oasis of free enterprise.

In this environment, although I did my best to keep up with my sister, academics were not always foremost on my "to-do" list. Often times I would come home after school to find my Nintendo games and the keyboard to our computer hidden somewhere in our house, courtesy of a devoted mother who was much more interested in me following my sister's footsteps to Yale than learning to beat the next level in Super Mario Brothers. Never did I dream that I'd end up as an investment banker in New York City, dividing my time between all-nighters at work and community service in my spare time. Even less likely was that I would enter business school at 24, with three years of work experience under my belt.

Looking back, these friendly battles with my sister helped set in motion a series of decisions which ultimately led, I believe, to my acceptance at HBS. These include my decision to attend the University of Pennsylvania's Wharton School as an undergrad, to study abroad at Oxford University, begin my professional career at Goldman Sachs, and continue in investment banking at The Blackstone Group. Each decision, in its own way, helped build an appropriate foundation during my late teens and early 20s and eventually led me to apply to business school.

Given my experiences in Los Angeles, where I was witness to many neighborhoods fraught with decay and despair; I became fascinated with the concept of improving and developing real estate in an effort to renew hope and promote further investments by other firms and entrepreneurs. As an undergrad at the Wharton School, I immersed myself in the field, working as a researcher and writer on a number of real estate projects for some of the university's most distinguished professors. During the summers, I secured internships with some of the real estate world's more formidable players and had a chance to observe masterful senior dealmakers as they structured creative transactions and made strong decisions in the face of uncertain information, and I felt encouraged that hard work-and the right education-might one day propel me to those ranks as well.

It was not until my first year as an analyst for Goldman Sachs, however, that I truly discovered my professional calling. The realization occurred when I was far removed from my office cubicle, working as a volunteer for the Community Teamworks program. I was busy teaching math and reading strategies to young students in Harlem in an effort to excite the students about education and encouraging them to remain in school. I experienced a great thrill in seeing the young kids respond to our presence there and the efforts they, too, made to excel academically. I started thinking about ways to further unite my two interests--real estate finance, which was my focus at Goldman Sachs, and community involvement, where I spent much of my free time.

Although working over 100 hours some weeks gave me second thoughts sometimes, working at Goldman Sachs was a phenomenal place to begin my professional career and get a firm grounding in real estate investment banking, among other fields. No system is without fault, but the Goldman model excelled in helping its analysts develop the basic blocking and tackling skills of finance, communication, juggling innumerable tasks, and client interaction. I still remember being in physical therapy one afternoon while my team at Goldman was due to receive a wire for over $1 million as our hard-earned fee. Although I had my cell phone with me to prevent any problems, I'll never forget that fateful phone call from my livid vice president just as I was undergoing ultrasound on my knee, asking why I had left my desk in the middle of such an important task. Thankfully, we received our fee and I was spared any public embarrassment in front of my peers, but it was emblematic of the steadfast and razor-sharp devotion a career in investment banking demands.

My first transaction at Goldman was described by my associate Todd as "the most difficult deal you'll ever work on at Goldman." I soon learned that Todd seldom exaggerated. For two memorable years, I crunched numbers until I was blue in the face, traveled around the country learning everything I could about senior citizen homes, designed client presentations, and negotiated with rating agencies to solicit better ratings for the commercial mortgage-backed securities we sold to bond investors. For die-hard investment banking mavens, the opportunities appeared endless. Given the firm's size and resources, and assuming the economy would keep chugging along, analysts could seek opportunities in other areas of the firm and other parts of the world--and many of my peers decided on this route.

After two years at Goldman Sachs, however, I recognized that I could benefit from transactional experience in a broader range of industries and a more boutique-like culture before specializing solely in the real estate arena. I joined the mergers and acquisitions division at The Blackstone Group, and had the opportunity to work on assignments in a number of industries, including utilities, pharmaceutical, steel, cable, advertising, and the Internet. I enjoyed the challenge of having to educate myself about new business sectors quickly and taking on more client interaction. However, working at Blackstone required every ounce of grit and perseverance I could muster. Perhaps the most memorable experience I can recall was being told on Tuesday of a meeting with a potential client on Friday afternoon. Luckily, the suit I had worn to work on Tuesday was fairly durable, and was able to withstand the three all-nighters I had to pull to complete our work by Friday. Although the partners' couches made it possible to have short naps during the wee hours of the night, my complete mental and physical exhaustion by Friday afternoon was inescapable and reminded me of the rigors of my chosen profession. Still, I knew this wasn't an isolated incident at my firm; many of my friends persevered through much of the same, no matter which investment bank they worked for.

Many times at Blackstone, I was reminded of Cuba Gooding's performance in "Men of Honor," and the level of mental fortitude he showed in becoming a navy diver. Blackstone forces you to challenge yourself every step of the way and really learn finance from every angle so that every member of the team, including its most junior members, continuously adds value. It is a central tenet of the Blackstone way and is one reason, I believe, the firm provides unparalleled opportunities.

After a very positive experience working in mergers and acquisitions, I also realized that I would need added insight into managing transactions and increased exposure to colleagues with significant professional experience. I decided that I could most directly gain these perspectives from my MBA studies and decided to apply to business school to leave my options open.

A short visit to Harvard helped convince me to attend the school once I was admitted earlier this year. I felt students at HBS were there not only to learn from their professors in a one-way dialogue, but to also teach each other, given their past experiences. There was an air of intellectual risk-taking in the classes I had not witnessed before. Harvard stood out as a true community, with a more intimate atmosphere and strong camaraderie among students. Its non-competitive environment is a welcome relief from the sometimes ultra-competitive world of business and banking; having the opportunity to learn and interact with colleagues without the undue pressure of constantly outdoing my classmates is something I am very much looking forward to.

At the end of the day, I was witness to what the students called the "Skydeck" awards, a series of humorous awards given to fellow students for the funniest comment of the week or for the student who had been called on the most. The awards demonstrated to me that HBS students were not solely academic-minded, but very well-rounded and able to sit back and enjoy the MBA experience with a sense of humor as well.

I also saw a Harvard MBA degree as giving me a solid academic framework in entrepreneurship, preparing me for my long-term goal of creating a real estate investment firm designed to target opportunities in the distressed-property sector and helping to revitalize inner-city neighborhoods. Harvard's classes would likely help me explore and conceptualize critical real estate investment issues such as interfacing effectively with the government and civic organizations to gain their backing in promising projects, and positioning properties to make them attractive to clients. Simultaneously, I hope to be able to create investment pools to empower inner-city residents to become entrepreneurs in their own neighborhoods, by providing low-interest loans, soliciting greater levels of federal aid, and attracting like-minded civic individuals who can help residents realize their own aspirations.

In sum, I believe a Harvard MBA will enable me to fulfill my long and short-term goals by equipping me with the right business tools to pursue a career in real estate, take risks on my own as an entrepreneur, or even change careers entirely and venture in new fields. I'm looking forward to the opportunity this fall and learning firsthand everything which makes the HBS experience so unique.

chipmunk

GMAT Score: 700
Work Experience: 3 years
Undergraduate GPA: 3.7
Age: 24
Schools Applied to: Harvard, Stanford, & Wharton

"Big envelope or small?"

"How much postage do they put on the big envelopes?"

"Wait, I thought they haven't sent out their letters yet? Oh, great, that must mean I didn't get in!"

It was a Monday afternoon in March and I was online scanning the discussion boards. BusinessWeek Online was brimming with applicants eagerly awaiting the decision that could potentially transform the rest of their lives.

I hadn't heard back from Harvard, my first choice school, nor had they even offered me an interview. I could just envision the admissions committee doubled over in laughter as they pored over my three greatest accomplishments. I thought for sure the worst was yet to come - perhaps all my dot-com friends had gotten in and I'd be calculating the weighted average cost of capital at four in the morning for the rest of my life. Luckily, a few days later I, too, had one of those big envelopes with the hallowed HBS crest emblazoned on the front. HBS was even kind enough to provide us with e-mail addresses -- before our class had even said yes to the school.

For those of us in corporate America, every year around this time, many thoughts begin swirling around in our heads. Should I apply to business school? If so, which one and how? How much time do I spend on each essay? Will Scott write me a killer recommendation? How well does Scott really know me anyway?

With the stock market in the doldrums and many major companies announcing layoffs, my sense is that the impetus to apply to business school is even greater this year. In fact, many of these same thoughts were going through my head just one year ago and I didn't have any answers. Of course, with the dot-com crash, I had my own unique set of fears - fear that the entire world will be applying to B-school and my application would somehow get lost in the cracks. I realized, however, that each year comes with its own unique set of circumstances and barriers to entry for any given applicant. There are external forces, such as the state of the economy or the number of other applicants from your company applying to the same school as you, that you cannot control. What I hope to provide, however, is some insight into my thought process and the kinds of questions I asked myself and my friends in order to present schools with the most compelling application possible.

Since I was most interested in staying on the east coast, I narrowed my choices down to Harvard and Wharton, but also applied to Stanford given the very positive experiences other friends and co-workers had commented on. Since I had attended Wharton as an undergrad, I was less anxious to repeat some of the material I had covered just a few years back, and shifted my emphasis toward Harvard and Stanford.

The two aspects of the application process I found most excruciatingly painful were the GMAT and the essays. The best advice I can give any applicant is to get these out of the way as soon as humanly possible. The GMAT, in particular, has the potential to derail your entire application process. The first time I took the exam my score was not where I felt it could be, so I had to retake the exam, causing me to miss some first-round application deadlines. To compound the problem, I was working extremely long hours as an investment banker, making it difficult not only to study but to take time off to actually sit for the exam. To prepare, I would recommend asking yourself how you learn best. Although I had friends who could walk into the exam cold and had an intuitive feel for standardized tests, I knew my fate to be otherwise. I would need to sit down and plow through enough practice tests until I could beat our friends at ETS at their own game. It is possible, I promise. Finally, keep in mind that you can only take the GMAT once per calendar month, so plan ahead and think about taking it later in the month so that, if needed, you can take it again early the following month without having to wait too long.

The essays represented the other 800-pound gorilla I had to conquer. I felt my writing was fairly decent, but the fear of having admissions counselors having a field day with my essays prompted me to spend an extraordinary amount of time thinking about what themes I wanted to highlight and how to make my writing as lucid as possible. In addition, I spoke with my close friends Gideon and Yusef about personal insights they could give me. Ultimately, it was up to me to put pen to paper and let my thoughts flow. I had done a little research on other avenues for help, and New York was not lacking for counselors hawking their services to the tune of $500 per hour. Needless to say, that was one plunge I wouldn't be taking - I decided to spend a little extra time fleshing out my thoughts and asking Gideon and Yusef to double-check for any glaring grammatical errors.

The essay process can easily amount to the most demanding aspect of the application. Starting early is critical, particularly for very open-ended questions such as the one posed by Stanford last year, "What Matters Most to You and Why?" At the same time, other schools such as Harvard will test your stamina with a barrage of questions and will limit the length of most essays to 300 words, for example. If you're not careful and succinct, you'll end up pulling all your hair out trying to keep below the limit, but in reality you can go over by about 10 or 15 words and still satisfy the requirement. As you write your essays, it is important to keep in mind that what you're doing is in some ways analogous to putting together a jigsaw puzzle. Each piece has to fit well with the overall puzzle and contribute to the picture of yourself you are trying to convey to the admissions committee. Your goal is to use every aspect of the application to paint one synthesized picture of who you really are and what makes you stand out. If any piece of the application doesn't mesh with your overall story, or if you fail to weave a compelling and uniquely personal story, it may have an adverse impact on your application.

A third critical ingredient in the applications process is your recommendations. Beyond the soul searching you will have to do to determine who can help shed light on your professional experience, your leaderships skills, sense of humor, etc., timing also comes into play. For example, many students apply from abroad each year and are contemplating asking for recommendations from people based in the U.S. Even if your recommenders are from the U.S., it is wise to give them two weeks at a minimum and more if at all possible. It may also help to provide your recommenders with a copy of your resume and a list of salient facts about yourself, particularly if they are not too familiar with your talents outside the professional sphere. This way you save your recommenders a lot of time and help ensure you are both on the same wavelength with respect to exactly what points you are trying to get across to the admissions committee.

Also be wary of recommenders who may be fond of you, but who may not think you "walk on water." If the person you are considering can't speak of you in superlatives in at least one scenario or context, I would move on to someone who can.

One question I am commonly asked about is the use of what one professor I know calls "G-d Letters." These are letters from the likes of Bill Gates, Harvey Golub, and Warren Buffett, designed to help give your application a little extra nudge toward getting in. As helpful as they can be, it's important for any titan of your industry to know you extremely well on a personal as well as professional level so that they can discuss your talents and expound on how they help set you apart from the pack. A short, generalized "G-d Letter" from your chairman which barely makes any reference to your particular talents, may end up backfiring rather than helping.

There are, of course, a few other decisions one must make during this entire process. One of the most important decisions is whether or not to tell your current employer you are applying to school. Since I had just started my second job when I was going through the application process, I was more in touch with my previous employer when it came to asking for recommendations. At the same time, I felt by being open with my current employer about my decision to apply made for a better work atmosphere and provided me with some additional flexibility when I needed to study for GMATs or spend some extra time writing my essays. If you're planning to keep your decision from your employer, try to anticipate what roadblocks you may have. For example, since you may not want to work on your application at work, you'll need extra time outside of work to put everything together. In either case, I would recommend setting up a concrete timetable for yourself to make sure you can meet your school's deadline. That way, at the end of each week, you can gauge how far along you are overall and what items are still outstanding.

As technology has improved, many schools now encourage applicants to submit their applications online and, I believe, a record number of students did so this year at Harvard. However, I was not one of them. Although I'm an avid user of technology and computers, there was something too intangible about submitting my application over the Internet. For those of you with a higher tolerance for risk, I would say go for it. In the end, it's probably a better move than FedExing your application to arrive on the day of the deadline (which is what I did) and risking an even bigger problem.

Applying to business school can be an extremely nerve-wracking experience. On top of everything you normally do on a day-to-day basis, you now have to worry about 1,000,001 miscellaneous items which simply can't fall through the cracks. One final thing I would recommend is to share your experiences with others who are going through the same process to keep abreast of developments other students may know about and to learn other strategies. I spent a considerable amount of time online looking through the discussion boards on Yahoo! and, of course, BusinessWeek Online, and also spoke to a number of current students at Harvard.

Although I was ultimately unsuccessful in gaining admission to Wharton and Stanford, I felt confident that I took advantage of every available opportunity to put my best foot forward in completing my applications. For a variety of reasons, I ended up applying to Stanford in the third round, which I've heard can be tantamount to writing your own rejection letter, and heard from my alma mater, Wharton, that a few more years of work experience might have helped. Coming from a school which admits a number of students directly out of their undergraduate program with no full-time work experience, their rationale seemed a bit odd.

Still, it's important to keep the big picture in mind. At the end of the day, no matter which school you attend, most companies end up recruiting at all the top schools in their search for the best and the brightest. In my book, "the three Ps", persistence, patience, and perseverance, can go a lot further than simply a Harvard MBA.

chipmunk

As the summer wound to a close in late August, 900 of my classmates descended upon Boston in preparation for the start of the HBS school year. We had some inkling of what the next few weeks would have in store, but for me at least, the barrage of activities, e-mails, announcements, and flyers was somewhat new and unexpected. Discipline, in terms of balancing my time, became a paramount concern. The first few weeks of classes have gotten off to a roaring start, and those initial few days of relative calm are all but a distant memory. We now wake up to 7:30 a.m. study groups, two to three classes of lively debate each day, and hours of homework each night as the cycle begins anew.

Our first few days on campus were centered around getting to know as many members of our massive class as possible, with frequent reminders in Burden Hall, our main auditorium, that we will only sit together as a class five times over the course of the next two years. Of course, we were welcomed to the Harvard Business School by Dean Kim Clark, whose charisma, advice, and sense of humor were aptly noted by the rapt audience. Various members of the administration warmly welcomed the class of 2003 and reminded us to take advantage of the next couple years as they would pass swiftly before our eyes.

Numerous social events catered to our every whim each night, as our class partied on a three-hour cruise, played billiards together, and watched as the second years lampooned life at HBS in a stunning preview of what we could come to expect. Students were extremely friendly and cordial, many recognizing friends from high school, college, and other institutions they had been a part of. Long-lost acquaintances were reunited - people marveled at the vast numbers of students who hailed from Harvard and U Penn, as well as those of us from Goldman Sachs and McKinsey. Yet, despite the veneer of homogeneity that surfaced early on in the year, we soon came to realize that HBS was diverse across so many dimensions beyond our wildest dreams. There are numerous students from nearly every continent, the military, and even the first student ever to attend HBS from Tunisia. We clearly had our work cut out for us over the next couple years.

Our social events segued into what's called "Crimson Greetings," an intensely fun two-day excursion into teambuilding, dialogue, negotiation, compromise, and making new friends. Our mission was clear: as proprietors of a greeting card company, it was our goal to produce and deliver high-quality cards to our customers, which consisted of members of the administration who had donated their time to help run the simulation. The brainchild of one of Harvard's faculty members (who, incidentally, has created dozens of other similarly ingenius and complex simulations), Crimson Greeting divided us into a variety of roles, including sales, production, and research and development. Although our group got off to a slightly slower start (due to a small oversight on my part) the leaders in our group quickly turned the company around and brought us back into profitability. After the end of the simulation, the 13 members of my group as well as numerous other groups had formed very close bonds with one another and continue to get together during the week for dinners and parties.

Crimson Greetings was only one aspect of what Harvard calls "Foundations," a two-week series of classes designed to help provide a basic framework for the issues and concepts we would be tackling in our courses as well as prepare us for the sometimes formidable challenge of class participation. During Foundations, we debated incessantly, discussing challenging ethical issues in business, market forces in Economics, and the history of major world powers in a class which was centered around the 700-page tome, Creating Modern Capitalism. Although it was suggested that we read the entire book during the summer, many of us caught up on relevant chapters the night before class while debating the merits of memorizing facts about Rolls Royce, Ford, and IBM versus meeting with friends at a local bar or nightclub. Some nights the reading took precedence, on others peer pressure prevailed, sometimes courtesy of my Crimson Greetings compadres.

Following Foundations, our class congregated again in Burden Hall to be informed of our section assignments. As we were handed the packets of information, the auditorium grew quiet as students scanned for their names as well as the names of other students in their sections. Our entire class is divided into 11 sections of approximately 80 students. We are in the same room the entire first year and only switch seats once at the end of the first semester. In a peculiar twist to our lives as undergrads, our professors come to our class each day, as opposed to students running all over campus to get to class.

My fate was sealed - Section K had my name written all over it. I recognized a few of the names, but, as was the case for nearly everyone, the overwhelming majority of names were totally foreign. We marched to our sections that Friday afternoon as Foundations was drawing to a close to introduce ourselves to one another and either exult or lament about our assigned seats in the classroom. Each section is still in the process of forming its own identity, as is the case each year, although already there is some friendly competition which has manifested itself through intramural soccer and football games. Our section is 1-1.

Classes this semester consist of accounting, leadership and organizational behavior, marketing, technology and operations management, and finance. There is a high level of energy permeating the classroom each day, both from the professors and the students as we engage in spirited dialogue, debate, and discovery. Of course, no class session would be complete without the occasional odd-ball comment or humorous answer, after which the class erupts in laughter. Our section has gotten off to a tremendous start. If it weren't for the sudden midterm coming up during this third week, perhaps we'd rest a bit easier.

At the same time, every Friday the students who sit at the back of the classroom are asked to hand out so-called "Skydeck Awards." These can be awarded for a variety of reasons, but are usually given to students who fall asleep in class, are picked on by the professors, or make totally asinine comments. It's a fun way to end the week on our way to TGIF happy hours and prepare for the rest of the weekend.

For most students, an important part of preparing for class consists of meeting every morning with six-to-eight classmates to discuss the cases for that day. After all, the entire curriculum at Harvard consists of hundreds of case studies across a variety of disciplines we are assigned to read over the next couple years, supplemented with textbooks here and there. Luckily, our study group is balanced in many ways, with four men and four women from a variety of backgrounds, including the navy, army, consulting, medicine, and investment banking. Most importantly, though, there is a genuine sense of friendship and camaraderie among my group as well as many others. This makes it much easier and lots more fun to wake up at 7:00 a.m. every morning and discuss accounting concepts like depreciation and LIFO and FIFO.

Our group was formed informally, but stories abound about other students' rituals in choosing study partners. Some students found themselves interviewed by others as a sort of weeding-out process, during which they would be asked to read and analyze a consulting case before gaining admission to the group. I found it much easier to discuss things over coffee and scrambled eggs and it's done the trick so far.

We recently had our club fair. Dozens of clubs brought representatives to sign up new members. Despite probably the highest membership fee of any club, the Wine and Cuisine Society seemed to attract the most new members, although the High Tech and New Media Club and the Texas Club were also favorites. There are nearly an infinite number of ways to get involved on campus and many students remark that any interest they have is probably shared by at least 20 other students, so getting groups together to go golfing or skiing on an impromptu basis has been no problem. Many of us are also looking forward to the numerous club-sponsored balls coming up this year, which are known to be quite fun and a nice diversion from all our cases.

Overall, it's been an incredible experience thus far. Although the events of September 11 definitely cast a pall over the campus, students remain upbeat and invigorated. The administration, and especially Dean Clark, has been very proactive in helping students cope with any personal issues and in promoting discussions and panels on campus to address student concerns and learn about leadership in the wake of the tragic occurrence.

One interesting ramification in the wake of last month's shocking events is that certain students on campus from the military were given notice to possibly serve again. Those I knew who had received the call did so with utmost grace, honor, and patriotism. Perhaps the most touching story, however came from my very own section, when one of my close friends, Chris, received a call during class from the Air Force indicating that his unique skill set in intelligence is in great demand. His superiors asked that he withdraw from Harvard and serve his country in this crisis situation.

Had he been single and unattached, doing so would have been extremely noble and selfless. Chris, however, has a wife and two kids, which made his decision that much more complex. After calling his wife and informing her of the situation, Chris made an announcement to the class. Like his father before him, who had valiantly served his country in Vietnam despite having a new baby on the way, Chris explained that he had asked to be at the top of the list of volunteers and would proudly serve. As difficult a decision it was, my section understood and respected his decision to the utmost. Perhaps most importantly, for a school such as HBS which strives to inspire and create leaders of its students, the standing ovation Chris received was emblematic of the lesson we learned that day. Leadership does not start the day we graduate from HBS - its roots began the day we set foot on this campus and are a part of our daily lives. Although his chances of being called to duty are 50-50 at this point, the example Chris set couldn't have been more appropriate, and I wish to dedicate this column to him.

chipmunk

It's hard to believe the end of the first semester at HBS is approaching so rapidly. The semester began innocently enough in August amidst an atmosphere of excitement peppered with anxiety. As prepared as I thought I was for most of my classes, there was the inevitable day when I had that "deer-in-the-headlights" look as a professor would challenge me with rigorous follow-up questions and I'd leave the class with a personal vow to spend more time with each case in the future. The trouble is, your first semester at Harvard is like trying to drink water from a fire hose. Because of the way the first year, or "required curriculum," is structured, having the time to go back and review your notes and still keep up with the next day's plethora of assignments and your extracurriculars is very tough, to say the least. You end up putting off reviewing most of the material until right before the midterm and hoping you remembered what it was exactly you didn't understand.

My days usually start at 7:30 a.m., which leaves my study group just over an hour to try and crack our three cases before venturing off to the lion's den (a.k.a. class). The night before, a member of our study group e-mails around a brief summary of the case at hand as well as their personal answers to the questions we are posed with. The write-up actually serves a dual purpose, both as an offensive and defensive measure. On the offensive side, as our group meets in the morning and debates the various issues in the case, we are able to challenge each other and come up with our own unique arsenal of insights before heading off to class. On the defensive side, if we are not able to attend study group for any reason, or better yet, haven't even read the case (there are a lot of bars within walking distance to campus), one can refer to a special section in the write-up designed to safeguard against a professor's "cold call." A cold-call can take many different forms, but usually means that the student is expected to review the most salient points in the case. The whole thing can last up to 10 or 15 minutes. Most of the time, they're no big deal, but that's not to say people walk into class hoping they're picked for this dubious honor.

The classes we are required to take this semester include Finance; Financial Reporting & Control (Accounting, basically); Leadership; Technology & Operations Management; and Marketing. Given that so much of our grade depends on class participation, being a part of the case study method and not simply listening to a lecture for an hour and a half is a welcome relief from my days as an undergrad. There is always a healthy, spirited dialogue in class, especially when students are able to draw on their personal experiences when discussing a particular case. One of my section-mates, for example, spent quite a bit of time working for Dell, which means she is able to speak intelligently on any case concerning the company across a variety of disciplines, including Finance, Marketing, and Operations.

It is the frequent use of personal experience coupled with the diversity and the unique case study method that make each class so rewarding. During the course of any given week, we find ourselves role-playing two different characters in a Leadership case, running supply-chain and assembly-line simulations, analyzing Finance through simple pictures on the chalkboard, and other similar activities you would never otherwise find yourself doing in the normal course of a day.

We've also had three midterms up until now, each of which was worth no more than 15% of our grade. Some people stressed out more than others (I try to reduce the stress by working with close friends who can reinforce my learning), but overall I think students are more concerned with the learning process than what numerical value they assign to us at the end of the semester. We can either get a one, two, or three, with a one being the highest. Students here take grades seriously, but there also is a genuine sense of teamwork both inside and outside class and you don't feel as if the competition is cutthroat. To take this to an extreme, one of my good friends, Andy, routinely organizes bar crawls each night before the midterm, with such catchy e-mails as "What's 15% of something irrelevant." Moreover, some of the more advanced students in a particular subject area organize review sessions for each section, fostering a sense of unity, cohesion, and camaraderie.

Classes usually end around 3:00 p.m. (even earlier on days when we only have two cases), leaving ample time to work out, meet friends for dinner, see a speaker, or begin on what can be laborious night of homework. In reality, having so much free time can be stunningly deceptive. It can be close to impossible to read and analyze all your cases each night, have meetings with the clubs you are involved in, stay up-to-date with the million e-mails you receive every day, and still have time to relax. On the other hand, the skills you learn in this colossal juggling act help build your confidence, and you get the sense that the administrators truly have applied a method to this madness. After all, we arrived here on the heels of so many other classes and former HBS students who fought to keep up, much as we do. I always wondered how tough George W. Bush had it here and how he managed his courseload.

Another thing you realize is that many of the choices we are presented with as graduate students are designed to mimic those of the real world. While today the tradeoff may be between reading one more case or going out for drinks with your friends and risking the "cold call" the next day, as professionals, there will be similar demands on our time. There will be instances where a judgement call will need to be made between a social dinner with a client to help strengthen your relationship or spending another couple hours in preparing for a meeting or drafting a selling memorandum. In short, with all the various demands on our time, one's experience at HBS is only a precursor to what the next few decades will have in store.

There have also been a number of other team-oriented activities that help make the HBS experience unique. A new program was inaugurated this year, where groups of eight first-year students meet for two hours each week, with each session facilitated by a second-year trained by Career Services. The goal is quite simple, but a lot of work has gone into getting it just right. The program is designed to encourage students from various backgrounds to come together and discuss their own career aspirations as well as their personal strengths and weaknesses. The aim is to help us learn about ourselves, as well as to brainstorm about which possible professions may fit a particular personality or ambition.

Plans are also underway for numerous "Treks," which are week-long trips to every corner of the world designed to help students meet potential employers, network with alumni, and learn more about a particular aspect of the world they may be interested in exploring further for employment. In addition, the European Club recently had a Business Conference on the HBS campus and hosted various panels, with leading business professionals from a variety of backgrounds, particularly private equity. The goal was to allow students the opportunity to learn more about particular aspects of doing business in Europe, right from the comfort of our own HBS classrooms. Private lunches with each panelist and keynote speaker afterwards helped give students some personal attention with the professionals.

HBS has also played host to both Warren Buffet and Jack Welch (back-to-back, in fact) this semester, both of whom left the audience with very tangible thoughts and suggestions on how to get the most out of our MBA experiences. In a refreshing twist to many of the speeches we hear nowadays, both Buffett and Welch emphasized integrity and honesty in business as some of the greatest virtues. Buffett, for example, made it a point to emphasize that there are numerous smart people running around in business, but that not everyone measures up on other, more important scales. He also described hiring Deryck Maughan, now Vice-Chairman of Citigroup, as his most important hiring decision ever when he took the helm of Salomon Brothers.

In short, HBS has far surpassed even my most optimistic expectations. Since you're surrounded by so many brilliant and overachieving stars who've accomplished more than you've ever imagined, it's not uncommon to feel constantly battered by the struggle to keep up intellectually. That doesn't mean you're cutthroat and sinister about the ordeal -- most of us are more than happy to take the time to explain certain concepts as private tutors and make sure people are caught up. Caught up, that is...until the next case, of course, when the game of staying alive intellectually, awake in class, and prepared for what's ahead starts all over again!

chipmunk

Well, the first semester has drawn to a close and we're back in action as the second semester gets off to a roaring start. The goal of this journal is to continue where my last entry left off and discuss other aspects of last semester, the recruiting process, and provide a preview of this semester.

First, I know many of you have already submitted applications, and have begun to hear back or receive requests for interviews. From speaking to admissions officers here, I understand that their goal is to have interviewed 100% of the students who will be admitted this year, which seems very difficult logistically, even with HBS' 60,000 alumni. A couple friends already had interviews and thought they went pretty well, so I wish the same for other candidates in the same shoes. More often than not, the interview is their way to clarify aspects of your application and background and better understand your motivation for seeking an MBA, especially at HBS. Good luck to everyone embarking on this adventure.

The last few weeks of class here were unique experiences. Our normally lively and spirited campus transformed into a virtual ghost town as students descended to their rooms to prepare for finals. Many students got together in study groups and to loosen up for a night on the town, but for the most part, finals were taken very seriously. Here lies one of the hallmarks of the HBS campus, which is that even in the absence of a ranking system and a non-disclosure policy for grades, academics are a foremost priority. Other schools have struggled in the past after de-emphasizing grades, with professors claiming students were less-than-prepared and not as motivated. Certainly, HBS, too, has debated similar issues, especially surrounding the availability of Internet access during class. This was deemed too much of a distraction, but the administration seems to have been successful in instilling students with the proper attitude regarding classes.

Perhaps the most memorable experience during the last few days occurred in our Leadership class, taught by a rising star in the Leadership department, Professor Josh Margolis. Josh, as we affectionately call him, grew to be extremely popular among our section, helping us understand key differences between the very best leaders and those who failed to meet expectations. Josh's inspirational teaching even led one of my classmates, Rayford, to jump out of his seat after receiving a phone call during class (from one of our classmates) indicating he had received the "call to leadership." It was this "call to leadership," after all, that Josh has so painstakingly prepared us for all semester. In a clever play on words, Rayford asked someone to call him during class, leading him to exult in joy, prance around the class, shake Josh's hand, and thank him for his wonderful preparation.

Yet, Rayford's call, hilarious as it was, placed second on the list of memorable moments. In a marked departure from other professors, Josh asked us to get in line in the last few minutes of class, and he personally thanked us for our contributions during the semester while shaking our hands, even smiling for a few pictures. Not every professor chose to end things on such a touching note, but they all, in their own way, reminded us to follow our passions, pursue our goals vigorously, and to spend time with our families, no matter how many demands the business world places on our shoulders.

Our final exams passed without incident for the most part, although HBS still has some technological glitches to iron out. Despite being named one of the top 20 technologically savvy business schools by Business 2.0 in December 2001, its experiments with online final exams have not always gone as planned. In theory, students are able to download their exams at a specified start time and upload it electronically within the defined time limit. The idea is great, and there are even plans to allow students to begin and submit their exams on their own schedules, but unplanned capacity issues on the server marred the experience for many students.

Still, the integration of technology in the curriculum is of great importance to the school and countless hours and resources have been funneled toward this aim. The "my.hbs" Web site and course platform, which summarize our classes and assignments and include world news and other important academic links, are but two examples of how technology has made our lives as students much easier and more interactive.

Other important issues at HBS include, of course, the state of the economy and the job market. Many of us just returned from "Treks" in various parts of the world, where we met with a variety of companies from industries which piqued our interests. Still, given the fact that our summer job bank only contains about 200 jobs for a class of 900, the reality is most of us must rely on these sorts of trips or our network of contacts to secure positions for the summer. Our Career Services office has been in the frontlines, helping and encouraging students to contact the vast network of alumni and have even contacted thousands of alumni on our behalf. They have also organized lunch sessions intended to help HBS students differentiate themselves, teach interviewing skills, and provide other helpful tips tailored for difficult economic conditions. I attended EuroTrek, where we had presentations from numerous companies over two days, including Orange, Reuters, Lehman Brothers, McKinsey, Goldman Sachs, and Marakon. Eager to cast a wide net, I set up meetings with a few entrepreneurs in London and met with a former managing director at Goldman Sachs to help guide my thinking. I've also begun to contact individual entrepreneurs around the country who I'd like to try to work with to seek summer employment.

Part of my strategy for the summer also relates to two extracurricular activities I am involved in: The Cyberposium technology conference and Mobius, a conference sponsored by the dean on leadership, values, and spirituality. My job is to recruit keynote speakers and interface with professors, which has been fun and challenging. The benefits are that you are able to meet and seek advice from top CEOs from around the country, as well as HBS professors you wouldn't normally meet. Many professors here are incredibly involved in the affairs of public and private companies and have been tremendous sources of information. Second-year students have also been very willing to spend time with first years, in terms of both reviewing resumes and giving job placement advice. I've already met with a few second years with consulting and private equity backgrounds to find the best career fit.

The current semester has been a blast, with an array of very interesting classes. This semester, we have Finance 1 (which leads into Finance 2); Business, Government, and International Economy (BGIE); Strategy; Negotiations; and the Entrepreneurial Manager. Many students have found Negotiations fascinating from the start - our first case, discussing NBC's negotiations surrounding renewing the show Frasier -- was lively and entertaining. My expectation is that these classes will help round out our skill set as general managers, with very practical advice on dealing with other people and running companies which can be so influenced by foreign relationships and governments.

All in all, the semester was an exciting, if sometimes grueling, way to challenge yourself as an individual businessperson. We learned to relegate grades to the periphery of our imaginations for the sake of intellectual pursuits. Our main focus was instead on building confidence in class, juggling dozens of tasks, meeting over 900 new faces, staying in touch with old friends, and reviewing the foundations of accounting, finance, economics, and the intersection of technology and operations. With a little luck, a resurgence in the job market will actually allow us to put our theories into practice this summer.

chipmunk

By the time this journal makes its way online, many of you who applied in the first and second rounds will have heard from HBS and those of you who applied in the third round should be hearing in early May. It can be an extremely tense and challenging few months, but when it's all over, most look back with both relief and happiness. I look forward to welcoming incoming HBS students and hope that all applicants, regardless of where they applied, are happy with their results.  

Let me jump into what's been going on this semester and what our classes consist of. Our classes include Finance 2; Negotiations; The Entrepreneurial Manager; Strategy; Social Enterprise, and Business, Government, and the International Economy (otherwise known as "BGIE."). I have to give a lot of credit to the administration for the variety of classes they have exposed us to in the first year's required curriculum. No matter what background students are from, each class poses a unique set of challenges and keeps students on their toes, even though they may have prior experience in the field. In fact, each section (comprised of about 80 students) at HBS was designed to promote as much dialogue during class as possible, so that students are teaching each other as much as the professor is teaching us.

My study group has been extremely helpful this semester, as we are able to analyze cases more thoroughly and engage each other bright and early every morning as an important part of preparing for our classes. One particularly memorable day, our study group vigorously debated the relative strengths of Amazon.com vs. Barnes & Noble and which company would survive in the long term. Days such as this help crystallized the true benefits of being part of a study group and why they can be so helpful as part of the HBS academic process.

This unique diversity and co-mingling of opinions are best exemplified, however, by our class on Business, Government, and the International Economy ("BGIE"), where we study everything from monetary and fiscal policies, to the role of business and government in different nations, to free trade and various countries' attempts at crafting democracies. Our professor, a former advisor at the Brookings Institution, has a talent for guiding the discussion in a way to help students independently uncover the hidden facets of every case.

Given the remarkable number of countries my section-mates hail from, being in a class like BGIE truly opens up new horizons and takes advantage of HBS' pedagogical strength in eliciting lively discussions. We've had cases on South Africa, Singapore, China, India, the Soviet Union, and Japan, to name just a few, and each time our classmates from these countries share their personal experiences about growing up in these societies, and the unique pros and cons of various government policies. Many students have even taken it upon themselves to prepare PowerPoint presentations to update the class on more recent events in these countries.

Of course, outside class, recruiting season has arrived and students have begun (and completed, in most cases) the march toward finding summer internships. Despite massive layoffs in many corporate sectors and the continuing fallout from the Enron debacle, students are upbeat and have cast wide nets in finding the perfect summer internship. For its part, the career services office has gone out of its way to help students navigate these difficult waters and have sponsored many afternoon presentations on better job searching techniques, including advice on effective networking. Although historically, students have reached out to dozens of potential sources in finding summer internships through the networked job search, the results can be unpredictable. You have to prepare yourself for the inevitable fact that a certain number of emails and phone calls will go unreturned and brace for an exercise in persistence. Still, the networked job search has many advantages, as my friend, Andy, found out. After spending five months on a highly-tailored job search that included countless emails, numerous conferences, several trans-Pacific conference calls, and a two-week networking trip to three cities in China, he was able to craft a much-coveted position in the semiconductor industry in Shanghai for the summer. There may be more twists and turns when undertaking a networked job search as opposed to a more traditional search, but you're likely to make some good contacts and uncover jobs which are not usually advertised or which employers may decide to tailor based on your particular strengths. In Andy's case, he was able to convince the GM of Intel's software lab the value he could provide as an intern working with a group of 150 engineers.

My own interests for the summer are not as narrowly defined that those of some of my colleagues. I've been searching for summer positions through the Web-based job bank, as well as through friends in industries of interest. Although the relatively small number of positions in the job bank relative to the number of students is indicative of the challenging times, career services has gone out of its way to recruit new companies and place more jobs online. In addition, many alumni have been contacted over the last couple of months and encouraged to speak to current students and post any available positions to help enhance the school's current job offerings.

My search for a summer internship is nearly complete, although I have had a few interviews with firms in a variety of areas, including finance and entertainment. Having prepared with a few friends beforehand and having taken advantage of the practice interviews hosted by HBS alumni, I felt very much prepared for the barrage of questions on my background, my experience, and what I'd bring to the position. One of the central tenets of the HBS experience--and an idea promoted by Dean Kim Clark in his opening address to our class back in August--was investing in each other and really reaching out to fellow students. I've seen the current economic climate help create a certain esprit de corps among students, with many reaching out to one another to investigate new industries and quickly get up to speed on what to expect.

One notable example of cooperation among various schools and students can be found at the Cyberposium technology conference held on campus February 8-9. Cyberposium is the world's largest student-run technology conference, with over 1,000 participants every year. This year, an enterprising first-year HBS student, Nitzan, and his team of HBS and MIT students planned one of the largest career fairs this academic year, with 28 participating companies, despite stiff resistance from many companies reluctant to come on campus or who were unsure of their hiring plans. The career fair provided access to many leading technology firms, including entrepreneur Dean Kamen's company, Segway. Nitzan and his team were able to overcome many companies' initial reluctance and in the final two weeks convinced 15 companies to send representatives, all of whom were offering jobs. When asked about the experience, he remarked that the event had proven how tightly-knit the HBS community is, evidenced by students really going the extra mile to help each other, not only at HBS, but at neighboring schools as well.

The solidarity among students has also extended beyond the daily rigmarole of searching for summer internships. Many students made elaborate plans for Spring Break, taking place from March 18-22, to travel together to places such as Costa Rica, Belize, Brazil, and South Africa. Other students have joined forces to volunteer their time working with non-profits or conduct charity auctions, for example. Three students in my section, Rayford, Jeff, and Claudia spearheaded what's called the Summer Search Charity Auction, which has become an annual tradition at HBS. Each year, first-year sections organize and host an auction to benefit the Summer Search organization and other select charities. Volunteers in each section donate something to the rest of the section, which is auctioned off; proceeds in the past topped $20,000. In fact, this year, my section set a school record, with over $31,000 raised!

Other students across the HBS campus have chosen to take part in another rewarding program, called Volunteer Consulting Organization (VCO), which links students with non-profits in the New England area. Four talented members of my section, Pat, Rosalia, Jed, and Kirsten, were matched up with Virtual Voyages, Inc (VVI), a New London, CT., non-profit founded to introduce under-privileged children in the New London and surrounding communities to sailing. Over a three month period, the group of MBAs worked closely with founder Dick Lathrop, the organizations served by VVI, city officials, and donors to understand the mission and core competencies of VVI and to set a path for future successes. "It's been a very rewarding project both from the perspective of serving the New England community as well as the opportunity to put into practice some of the lessons from the classroom," says Pat."

Showcasing other talents beyond their ability to dissect case studies, a rock band of first-year students, named Corporate Whore, has been playing to large crowds at most local venues, including two straight sell-outs at the House of Blues. These guys really rock! The band was originally formed in cyberspace, through the HBS prematriculation Web site (which provides a wealth of information to incoming students) and started discussing songs and performances while many of us were still trying to figure out where to live and solve other related challenges. They are currently recording their first album and will donate time this summer to a volunteer music tour of U.S. military bases. Take a peek at their Web site, www.CorporateWhore.moonfruit.com, to get a feel for what they are up to and look for them to be performing early next year at HBS for incoming students. Hopefully, some new admits are up to the challenge of putting together their own band and giving Corporate Whore a run for their money!

Finally, a number of students, including myself, recently launched the first-ever Mobius Forum here at HBS, which was a conference dedicated to "Leadership, Values, and Spirituality." The conference, which lasted two days, delved into numerous issues surrounding spirituality in the workplace, and featured a case study on Anita Roddick (founder of The Body Shop) as well as panels and speeches by our dean, Kim Clark, Alan Dershowitz, and Deepak Chopra, among many others. More information on Mobius can be found at www.mobiusforum.org. I would encourage you to view our "Virtual Conference" online.

Frequent trips together, engaging study group and class discussions, thought-provoking faculty, multi-talented students, and volunteer opportunities such as these are among the many reasons HBS stands out in my eyes. Especially in difficult recruiting periods, students reach out to one another, not just inside the classroom--where it remains an important priority--but also outside the classroom through volunteer work and other collaborative efforts.

chipmunk

It's not often that I've found myself in a position where I'm explaining what the Harvard Business School is, much less where it's located. Yet, such an opportunity presented itself in mid-June as I sat down for drinks with my colleague Mary Anne on the rooftop of the Hotel Washington on a balmy DC evening.  

My waiter, Kyle, a recent immigrant from Lebanon who had sought better fortunes in the U.S., engaged me in such dialogue and we spent the better half of the evening discussing various business schools and what I've learned from HBS. Ironically, the gentleman sitting next to us was from the class of 1990 and together we chatted, sharing our thoughts on the HBS experience with an eagerly listening Kyle.

Almost a year has passed since I started at HBS and the experience thus far has been tremendous, exceeding some of my highest expectations. I feel my level of confidence, maturity, business savvy, and interpersonal skills have all grown, and I've learned to approach many business situations in a smarter, more well-informed way. Thanks in part to a class we took last semester called The Entrepreneurial Manager, coupled with my interactions with numerous entrepreneurs at school, I've met with a few independent businesspeople about a variety of opportunities after leaving school. Before, having worked tremendously long hours on Wall Street, I may not have first thought about the big picture and where I would fit in. But, today I look at opportunities with an eye toward my potential to become a leader in any professional endeavor I undertake.

Perhaps more importantly, the school's efforts to inculcate students with ideas of honesty, ethics, and integrity in business remain at the forefront of my thinking, particularly as we witness a slew of highly successful CEOs and corporations facing increasing scrutiny and allegations of impropriety on the job. The credibility crisis facing corporate America, along with the classes I've been fortunate to take, are stark reminders of the ramifications of trying to cut corners, hide questionable business practices, and fail to represent the interests of all stakeholders at all times.

HBS has given me access to a cadre of bright, eager students who I can rely on to assist me with most any challenge, particularly those I've come across this summer as an intern. For example, on a recent assignment where I had to write a short paper on the energy sector, I was able to speak in-depth to a number of classmates and alumni about their experiences in the industry and get some very useful guidance on industry dynamics. My first year also helped hone many basic skills essential for running any successful company, including finance, accounting, technology and operations, marketing, and business/government interaction. I am pleased with the administration's responsiveness in dealing with issues raised by students and serving as a support network for any possible concern, including those stemming from September 11, the challenging job market, balancing school with personal time, and violations of our Community Standards (a set of rules designed to ensure everyone acts with honesty and integrity as they partake in the HBS experience). Finally, HBS offers its students incredible flexibility with respect to the classes we take as second years and the ability to travel and write cases alongside faculty members through field studies on most any topic. Certainly, some students won't be able to get into the most popular classes, and some classes certain students want to take may not be offered. But, on the whole, I've been impressed with the diversity of offerings next year and heartened to learn that most faculty members are open to suggestions given by students on topics for field studies.

No BusinessWeek Online journal, however, would be fair without a few thoughts on things that may be improved as well. The technology at HBS is fast, robust, extensive, and easy to use, but suffers like LA freeways from extreme congestion. Numerous times we have had server outages, including a week or so when our email server buckled under pressure and other servers conveniently went down as students sought to check grades or take exams.

To its credit, the technology department has been pretty responsive in tackling these issues, but students still nervously murmur and look around in class when we're told we have an exam coming up which must be downloaded from the web. Nevertheless, I'm told that the technology environment at HBS is by far the most advanced of any business school in the world, so I'm sure we have more stress free times to look forward to.

Something else I would be interested in trying to improve is the extent to which we are challenged in class on certain numbers we throw out or ideas we present. In contrast to the working world, where we may be asked to vigorously defend to a partner or boss a financial forecast, a line of reasoning, or a prediction about a certain industry, I've found some ideas presented by students are simply glazed over, perhaps due to the amount of information the professor needs to share in such a short amount of time and still allow for a case discussion to take place. I remember, in particular, a partner I worked with at Blackstone who was extraordinarily bright and talented and made sure to continuously challenge me every step of the way on our projects. While that wasn't always fun after putting in 18-or-more-hour days, I look back very fondly with the rigor of his analytical thinking and the mental exercises he put me through. Many of my comments in class this past year were directly based on the manner of thinking this partner inculcated within me.

Finally, some colleagues of mine have noted a bit of redundancy in cases across various classes, where we've been exposed to companies such as Microsoft and Dell a number of times. I think the administration has listened carefully to these thoughts and, through a comprehensive evaluation system with input from students, is constantly re-assessing the mix of cases used each year to ensure an appropriate balance.

My own summer internship has been phenomenal thus far and allows me to fulfill a different operational role as compared to my previous positions on Wall Street. I decided to go to Washington to pursue a position with Kissinger McLarty Associates, which merges my twin interests in business and government. The firm, which was founded by former Secretary of State and National Security Advisor Henry Kissinger and Mack McLarty, Bill Clinton's former Chief of Staff and Special Envoy for the Americas, advises multinational corporate clients, providing support for special projects, strategic partnerships, mergers and acquisitions, investment opportunities, and government relations throughout the world. It has been very educational thus far and I've had great opportunities to utilize, in particular, the skills I learned in Business, Government, and the International Economy (BGIE). One recent project, for example, involved assessing geo-strategic and geo-economic business risk and determining capital flows among large regional conglomerates.

I have also had the opportunity to speak to a number of friends interning at firms such as Goldman Sachs, Morgan Stanley, NASDAQ, Bear Stearns, the Department of Defense, as well as a firm in nanotechnology and a subsidiary of Danaher Corporation, which manufactures leading electronic test and measurement equipment. Most said they are quite pleased overall to be able to put some of the frameworks from HBS to work and that the slow economy hasn't prevented them from partaking in key strategic discussions and working on meaningful assignments.

Kirsten, from my section, has so far assessed brand strength, outlined strategies for dealing with existing brands, and helped identify opportunities to improve internal processes and operations. Nate and Sava, both of whom were in my study group, are working at the Department of Defense and in nanotechnology, respectively. Nate is doing strategic planning and working on the military transformation effort (implementing an HBS hallmark, the balanced scorecard, which Professor Bob Kaplan is famous for), and Sava is doing business development with plans to brief the board of directors on what he's undertaking.

The few criticisms I've heard are that things have sometimes gotten off to a slow start and that it has taken some time to be placed on the "right" projects and convince hesitant colleagues to invest time in interns even though they may only be there for 10-12 weeks. Finally, another colleague who's thrilled to be working at a socially responsible investment firm in Boston, loves the social mission atmosphere of the company, but laments that she is not always able to think from a CEO's perspective, as we are so used to by virtue of HBS' case study method.

This past 4th of July, I had the pleasure of taking in the fireworks at a secure and undisclosed location with Dick Cheney; seriously, we were in a secure location, but I can disclose where we were—Fort Myer, which continued its long tradition of opening its scenic Whipple Field to about 2,000 guests. I joined Sava and Russ, two classmates from West Point, as we ventured to the base and were searched at two separate security checkpoints by the base's military police to ensure a safe holiday for all. Having never celebrated Independence Day at the nation's capital, it was an exhilarating experience, particularly given the tragedies we've faced as a nation this past 12 months.

Later this summer, I'll be traveling to Thailand with a group of section-mates, thanks to the generosity and hospitality of Oo, another section-mate who hails from Bangkok. It should be an exciting 10-day excursion including tours of the Grand Palace, ChiangMai and Samui Island, elephant rides, and relaxation at the beach. It will be a welcome segue to my second year, where I expect our classes to continue to be engaging and even more practical. As president of the Jewish Student Association, I hope to bring great speakers to campus and increase our membership through more frequent events with other clubs and other schools at Harvard. Given how fast I've been told our second year will fly by, I'm also planning to take ample time to host dinners and trips with friends to create memories and friendships that will last a lifetime.

Yet, as my experience with Kyle demonstrated, HBS cannot fully define who I am -- nor will it facilitate every aspect of my life beyond graduation. In other words, I realize that not everyone will have heard of HBS, let alone accord the school with the same high level of respect a student, alumnus, or faculty member might. Companies we work with or clients we solicit may not embrace MBA students; there will certainly be many occasions where we'll feel woefully unprepared or beads of sweat may slowly wind down our temples as we launch into a presentation in front of the board of directors as graduates. So, as the beginning of my second year draws near, my goal is to improve my skills not simply in financial and business matters, but along other dimensions as well. Improving my public speaking, balancing priorities, making time for friends and family, and other outside interests -- all these goals will pose themselves as challenges for many years after I leave HBS.

chipmunk

Well, the class of 2003 is back in action on the HBS campus and, so far, the second year of the MBA program differs in some very important respects. Students seem more relaxed, at ease, and class discussions have in many ways been taken to new echelons. Now that the add/drop period has ended and the uneasiness surrounding which classes we would obtain through the lottery system has subsided, students have taken the opportunity to settle in, join new clubs, and use every moment of the second year. After all, June, 2003, is really just around the corner, affording very little time to take advantage of all HBS has to offer. And, of course, that means the recruiting process is also in full swing, with all its company presentations, recruiting dinners, and the fear of the dreaded "ding."  

Although I'm supposed to save most of the details about the start of my second year for my next journal, due in December, I thought I'd share few thoughts as I begin this one. I recently had a chance to watch my Vanilla Sky DVD, which I've been meaning to do for quite some time now. While the movie as a whole reminded me of Total Recall in some instances, I think a more appropriate analogy may be to compare the second year at HBS with the "Lucid Dream" feature Tom Cruise contemplates in the movie. For those who haven't seen the movie, the Lucid Dream is a mind-altering plan being sold by a company called Life Extensions, which allows you the option of freezing your body for a predetermined number of years and programming your mind to live life in a world that transcends reality. You are free to pursue all you can imagine in a preserved state and you're given a glimpse of the future -- a future, in fact, of your own choosing. As the ebullient sales representative admonishes Cruise in the movie, "What is any life if not the pursuit of a dream?"

In today's economic climate, where jobs for MBA students seem to be few and far between, my choice to apply to business school seems to have been well-timed. We are learning an amazing amount of material in a very short period of time. But, in a sense we also are locked for another year in our own sort of "lucid dream," shielded from the falling stock market, corporate layoffs, and other adverse news affecting the job market and our employers.

Until June 2003, we are free to choose our own version of reality, to study hard, decide which extracurricular activities to be a part of, when to volunteer our time, and when to let loose and party. As with Tom Cruise, our lucid dreams can't last forever, though, and choices will need to be made. What sort of jobs are we going to pursue? How well do they mesh with our future goals? All too soon, we will have to reintegrate ourselves into life as it was before HBS and our lucid dreams will slowly drift to conclusion-and, with a little luck, be replaced by even bigger dreams with nice payoffs to go with them.

Before I delve into my summer internship, I would be remiss if I didn't first thank one of my classmates and her family for helping organize what truly was an unforgettable trip to Thailand this summer with about 45 of my classmates. Thapanee ("Oo") Sirivadhanabhakdi, who was in my section last year, worked tirelessly to coordinate a luxurious 10-day trip to Bangkok, Chiang Mai, and Samui. I know I speak on behalf of everyone who attended when I say it could not have been a more enjoyable 10 days of fun, relaxation, exquisite buffets, amazing nightlife, thrilling karaoke, stunning entertainment, and colossal generosity on behalf of Oo and her family. We cannot thank her and her family enough for the extraordinary lengths they went to in order to ensure an amazing experience.

As mentioned in my previous article, I spent the summer in Washington, D.C., working for an international strategic consulting firm started by Dr. Henry Kissinger back in 1982. In 1999, Mack McLarty (Bill Clinton's former Chief of Staff and Special Envoy for the Americas) joined with Kissinger to open an office in Washington to serve multinational companies operating in Latin America. Although the firm is, by design, relatively small, Kissinger McLarty is staffed with an extraordinarily talented pool of individuals who have tremendous experience with Latin America and are widely sought after for their political and economic acumen.

My role as a graduate fellow this summer was to support their efforts in helping clients achieve their operational goals. Exactly what I did varied depending on who I worked with. But on an average day, I might spend time doing research for editorials written by senior personnel at the firm, researching political and economic events in various countries in preparation for meetings or speeches, helping clients better understand the landscape in certain countries prior to their making investments, or calling policymakers and government officials to better understand U.S. policies in Latin America and other parts of the world.

I am very grateful for the chance to have worked with a group of very bright and dedicated managers who took the time to mentor the group of interns and help elucidate the events that engulfed Latin America this summer. It was an eventful time in the region and a class I took here at HBS last semester, Business, Government, and the International Economy (BGIE) paid off handsomely. In BGIE, we focused on numerous countries and the various issues they faced in industrializing, adopting a free market economy, and coping with inflation, currency devaluations, and government instability, among other issues. We delved into situations where governments struggled to revive economies mired in recession and other situations where the economy was "overheated." Class discussions -- and various perspectives provided by the many international students in class -- were extremely helpful to me this summer as I helped our clients cope with many similar economic and political issues in Latin America.

I was the only MBA student among the four interns. Typically, Kissinger McLarty hires students from top schools in the Washington area who have backgrounds in political science or international relations. One student, for example, was a graduate student at Johns Hopkins School of Advanced International Studies, was a Fulbright Scholar and had lived and worked in Argentina. Still, my MBA skills came in handy in a variety of scenarios. Certain projects required me to analyze various companies' financial statements, reach out to government officials through cold calls, and analyze trends in the energy sector. All of these allowed me to employ various lessons and frameworks learned in school to one extent or another.

Certainly, I found that going to HBS, and simply working towards an MBA, gave me more credibility among those I met this summer, particularly when representing the firm at seminars outside the office. However, I believe that no degree can be a substitute for simple persistence tenacity, and optimism in the face of adversity, which having an MBA doesn't automatically confer upon you. It is these values, among others, that ultimately make the difference in an employer's eyes once you actually land a job, not what school you attended or how many degrees you have. As Jeff Immelt, CEO of General Electric, recently stated in a speech here, it doesn't matter whatsoever what school you came from; what matters most is how you perform when you get the call to leadership.

Although my internship was rewarding in a number of ways, I believe that working on an entrepreneurial venture or seeking an operational role within a larger organization may also be beneficial to me after I leave HBS. The recruiting season is already upon us and, if the difficulty experienced by last year's class is any indication, it will be an uphill battle for most students who don't already have offers. Although it is likely some of us may not have offers upon graduation, for many students prospects may depend on how stringent their criteria are. I hope that prioritizing among options such as location, function, industry, salary, and benefits, will help most students land a job which truly meshes with their interests.

chipmunk

Our December holiday break has finally arrived, and I've had a chance to return to not-so-sunny Los Angeles, where I grew up, to relax and continue my job search. I had fantastic classes last semester, which proved to be highly informative and integrative, as professors wove what we learned into lessons presented by their colleagues in other classes. As president of the Jewish Student Association, I helped plan some very successful events and we've also started planning a trip to Israel for HBS students in June, 2003. Socially, I've formed closer relationships with my friends, partly as a result of going to Thailand with a few of them, and partly as a result of being exposed to students from other sections in the second year, which didn't happen much last year.  

My classes last semester included International Entrepreneurial Finance (IEF), Globalization and Strategy (G&S), Governance and Corporate Control (GCC), Tax Factors in Business Decisions, and Legal Aspects of Entrepreneurship (LAE). Despite the fact that I didn't get into some of the most popular classes at HBS, I felt my professors were all top-notch and extremely talented inside the classroom. Walter Kuemmerle, who teaches IEF, created a new course from scratch, traveling around the world to interview successful entrepreneurs and write new cases. Tarun Khanna, who teaches G&S, is brilliant, and has been selected by the Dean to advise on the School's globalization initiative. Malcolm Salter, who teaches GCC, has been a professor for 36 remarkable years and still treats every day with the same zeal as if it's his first. Hank Reiling, a Kentucky native who teaches Tax Factors, has one of the best senses of humor around and a knack for making a traditionally boring class quite enjoyable. Finally, Connie Bagley, who teaches LAE, has a great deal of concern for her students' learning inside and outside the classroom and is one of the most dedicated professors I've ever had the pleasure of having.

In addition to amazing professors, we also had some phenomenal speakers last semester, including Lou Gerstner (an HBS alum), Jeff Bezos, Jerry Speyer (of Tishman Speyer), and David Bonderman (founding partner of buyout shop Texas Pacific Group). My club, the Jewish Student Association hosted a high profile panel on the Arab-Israeli conflict, called "America, Israel, and the Arab World: Can There Be Reconciliation?" The panelists consisted of Harvard Law School Professor Alan Dershowitz, Rabbi Shmuley Boteach (renowned radio talk show host and author of 14 books), Hasan Abdel Rahman (Chief Palestinian Negotiator in the U.S.), and Hussein Ibish (Communications Director for the American-Arab Anti-Discrimination Committee). Although the debate was quite emotional and politically charged, I received some very positive feedback from HBS students indicating that they found it educational and fascinating.

This winter break, students have also set off on voyages all over the world in search of relaxation in addition to new careers. HBS students plan various "treks" in different localities, including Asia, London, San Francisco, and Los Angeles, each with its own emphasis on particular careers. For example, in early January, I took part I in "Hollywood Trek" with about 70 other HBS students, and we visited a variety of companies in the film, television, and music industries. Since I'm planning on moving back to Los Angeles upon graduation, I'm confident my meetings there as well as other meetings I've set up will lead to something rewarding upon graduation in June. Ideally, I'll find a position which merges my interest in entertainment with my background in finance; unfortunately, many positions in entertainment ascribe no value whatsoever to the MBA (and your salary really reflects this) and others ask you to start off in the mail room making peanuts for three years.

Of course, recruiting is also weighing heavily on students' minds since a decent number of students graduated last year without offers and the administration is working diligently to reverse this trend this year. Dean Clark, for example, has personally involved himself in the process and has written to many of the school's alumni to request their support in hiring more HBS alums; he has also contacted some of the largest companies which recruit here to facilitate the hiring of international students as well as underscore the benefits of hiring HBS graduates.  Finally, Matt Merrick, Director of Career Services, has also initiated many meetings with Fortune 500 companies through the "Key Account Program," designed to establish closer links between them and HBS in hopes of creating more job opportunities.

The difficult job market has also limited the career choices of certain students, leading many to seriously consider returning to their employers prior to graduation, as unpalatable as that may be. Although significant computer glitches hampered the efforts of our Career Services office and left many students quite upset, Dean Clark, Matt Merrick, and other administrators have been open with students and have sought to initiate a constructive dialogue. The Dean hosted an open forum on Nov. 25, which was attended by about 150 students and fielded questions about any topic on students' mind, although the job market took precedence. Most significantly Dean Clark used the forum to announce seven tangible steps to address students' concerns, including launching a new Career Coaching program, enlisting faculty to serve as referrals for opportunities for students, and partnering with executive search firms.  

Despite the lugubrious news on the recruiting front, there is plenty to celebrate about at HBS. One of the most significant and noteworthy events of last year has to do with the nomination of my good friend and classmate Srivatsa Krishna as a Global Leader of Tomorrow by the prestigious World Economic Forum. Each year, the Forum selects what is describes as "100 top-notch young people from business, politics, public interest groups, the media, the arts and the sciences, who have demonstrated responsible leadership vis-à-vis society, business developments, the environment and socially responsible initiatives." Past members of the GLT program include such luminaries as Bill Gates, Tony Blair, Michael Dell, and Jeff Bezos.

Before arriving at HBS, Vatsa topped the Indian Civil Services Examination in 1994 and joined the Indian Administrative Service (IAS). This is considered to be one of the most difficult examinations in the world, and each year about 300,000-500,000 compete for 50 positions in the IAS (Vatsa was also awarded the President's Gold Medal for ranking first among all competitors on this exam). Longer-term, Vatsa (as he is affectionately known among his friends and colleagues) desires to be a "brand ambassador" for India by leveraging Indian expertise in software, biotech, and IT-enabled services to help increase India's global stature and attract valuable investment dollars to this poor nation. I have no doubt one day he will match, and even exceed, the accomplishments of the luminaries who walked these same steps years before him.

chipmunk

On a breezy Sunday afternoon in March, about 120 HBS students disembarked from two luxury buses after traveling about four hours from JFK airport to Boston and about 18 hours from Cape Town to JFK. We had just returned from an exhausting week in South Africa, where we decided to go for Spring Break to make new friends, enjoy picturesque scenery, take in a few safaris, and tan under the hot African sun. Like other trips I've taken with HBS colleagues, it turned out to be extremely memorable vacation. Not only did I bond with friends I don't always see around campus, but I also had a chance to see Africa firsthand, in all its splendor -- and, unfortunately, poverty.  

But, the most memorable aspect of my trip had nothing to do with sitting by the pool sipping on martinis, cruising off-road in a Land Rover only a few feet away from a pride of lions, or driving around busy Cape Town intersections with my roommate Marco in a go-kart just slightly larger than a tricycle. Instead, as our jeep roared onto the playground of an elementary school in a poor village outside of Bongani, near Johannesburg, where we were on our safari, I was immediately amazed at the enthusiasm of the children we met, and the ebullience with which they greeted our group of 20 strangers. Dozens of kids came running up to our jeep to say hello, their eyes wide with excitement, their hearts eager to make contact with new friends. As I took pictures with many of the children and visited a tattered classroom where they were taught, I sat back and marveled at just how much of an impact any one individual can make in the life of one child. I resolved to continue working with those less fortunate than myself no matter what city I settle down in.

My HBS education is slowly drawing to close, and with it perhaps the most important chapter in my social and professional development. Although I can look back very fondly with the rigor of the coursework, the panoply of frameworks, and the endless hours of classroom discussion and student debate, I look forward with immense anticipation of what this next phase has in store for me.

Certainly, I'm very fortunate to be able to pick among a few different offers in the Los Angeles area, where I've wanted to establish myself for some time now. I currently have an outstanding offer from Trammell Crow, a leading full-service nationwide real estate firm, in addition to a business development position with a consulting firm, and a similar position with a very successful real estate and banking entrepreneur.

Although our Career Services office tried very hard to encourage firms from a variety of industries to post jobs in our job database, I didn't come across too many in the real estate field or in the Los Angeles area. Therefore, my job search was conducted mainly through friends and colleagues, many of whom were able to refer me to other colleagues, which eventually mushroomed into a backlog of over 100 people to call and follow up with. I certainly didn't mind leaving the frigid Boston winter behind and traveling to L.A. for numerous job interviews; I also had a chance to visit old friends and spend time with my family.

Another major highlight of my recruiting trip was the chance to be a part of the American Israel Public Affairs Committee (AIPAC) policy conference in late March. While in Washington, DC to meet with potential employers, I attended many of the panels and keynote speeches and was witness to the incredible outpouring of support for Israel and America's relationship with this key ally. Notable speakers at the event included Foreign Minister Silvan Shalom, US Secretary of State Colin Powell, US National Security Advisor Condoleezza Rice, Senate Majority Leader Bill Frist, Senate Minority Leader Tom Daschle, Speaker of the House Dennis Hastert, and House Democratic Leader Nancy Pelosi. Each reaffirmed America’s strong support for Israel and America's ardent hope for peace in the Middle East.

Since I had helped sponsor a debate on the Middle East at HBS, it was inspiring to witness these events in Washington and link ideas from the classroom to real-world policy issues and how they are framed by leaders today. I also had a chance to meet dozens of business leaders in the Jewish community, swap ideas, and gain advice about my future after business school, which I found invaluable.

In the end, my recruiting trip lasted a grueling three months with little sleep and lots of caffeine, but I'll be moving to Los Angeles in June, armed with the confidence of my newly minted MBA degree, dozens of contacts, and unbridled enthusiasm to enter the real estate world.

Back in Boston, our class discussions have improved quite a bit since the early days of first semester when everyone was just testing the waters with their comments. However, at least for me, it has been a bit harder to spend time outside of classes preparing as vigorously as I once did. Ten-page cases now seem like 30, and crunching numbers has lost some of its allure. Still, I'm cognizant of the fact that I'm paying $60,000 a year to be here and these last few weeks have the potential to be the most rewarding of all. That's because everyone is so well adjusted to the HBS methodology, more eager to take intellectual risks in class, and more experienced in adding comments that help enhance our discussions.

My own time management skills have also improved or the last two years. I'm able to attack a case in about half the time it used to take me. Far from suffering from "senioritis," my classmates seem just as eager as ever to engage each other in rich discussions across any topic. Students are increasingly speaking about their personal experiences from their professional lives before HBS and some are even visiting other classes as guest speakers during cases where they have expertise.  

HBS has also been home to some amazing extracurricular activities, including major conferences sponsored by the African American Student Union (AASU), the Entrepreneurship Club, and the Mobius Club, which hosts an annul event on Leadership, Values, and Spirituality. The AASU conference, as always, was spectacular, and featured Russell Simmons (the hip-hop mega mogul), billionaire Michael Lee-Chin (known as Canada's Warren Buffett), and a tribute to an amazing HBS professor who is retiring this year, Jim Cash, who is on the boards of both Microsoft and General Electric.

The conference also featured several other alumni panels ranging from "Perspectives from the Top" to "Building Your Family Empire" and featured the fourth annual Entrepreneurial Ventures Competition, designed to provide an opportunity for budding entrepreneurs to test their ideas among a panel of judges comprised of leading venture capital professionals. This year's conference was attended by over 650 alumni, current, and prospective students, almost twice the number from last year.

The Entrepreneurship and Leadership, Values, and Spirituality Conferences are took place the weekend of April 5th and attracted a diverse gathering of speakers, students, professors, and alumni. The Entrepreneurship Conference will be featuring as keynote speakers both renowned HBS professor Clayton Christensen and Gururaj "Desh" Deshpande, the founder and chairman of Sycamore Networks. There will be a variety of fascinating workshops, including "How to give the perfect pitch" and "Young Entrepreneurs," in addition to a talk by HBS alum Keith Ferrazzi, who was recently featured in Inc. magazine in an article called "The Ten Secrets of a Master Networker."

In its second year, Leadership, Values, and Spirituality Conference is really an extension of many of the themes we are exposed to in the regular curriculum. The event allows students and other participants to discuss how these ideas relate to the business world we plan to enter. Last year we had Deepak Chopra and Rabbi Shmuley Boteach (a world-renowned lecturer and author of 14 books) attend; this year, participants are tackling such issues as "Ethical Issues in Globalization," "What is Success," and "Alternative Careers' "Politics and Non-Profit."

We've also been blessed with great speakers since my last BusinessWeek Online journal. Already, Carly Fiorina, CEO of Hewlett-Packard has come to campus, in addition to Bob Holland, former CEO of Ben & Jerry's, and Arthur Martinez, former CEO of Sears. Both Holland and Martinez visited my Advanced Competitive Strategy class and were the architects of commendable turnarounds at their respective organizations.

Finally, in another annual tradition, students gathered the week of March 31st to witness this year's rendition of the famous HBS Show, a two-hour satirical comedy about life at Harvard Business School. There were a healthy number of jokes about many members of the administration and the joys and headaches of being a student at HBS. Each year that I've seen the show, I've marveled at the incredible display of talent and creativity. Despite already full schedules, many students toil and rehearse endlessly for months and the preparation really comes through in their performances. I should add that two of the writers for this year, Travis and Yael, both hail from my own great section, Section K, and Victoria, the third writer, was in one of my team-building groups at the beginning of HBS, called Crimson Greetings. It's a simulation exercise where we learn lessons of leadership, camaraderie, and organizational structures by running a fictional greeting card company.

With Commencement less than two months away and the weather in Boston finally improving, students have begun preparing for both Class Day (HBS' own set of ceremonies in early June) as well as the overall university-wide commencement the following day. During Class Day, the two co-presidents of the Student Association will be delivering an address, along with one student who is chosen each year by classmates, and a special guest speaker. Last year' guest speaker was John Whitehead, former co-chairman of Goldman Sachs and currently of the Lower Manhattan Development Corporation.

Of course, the graduating class will also be recognized by the Dean, who will also be handing out the Dean's Award, given annually to "graduating MBA students for making a positive impact on the HBS community and contributing to the well-being of society through exceptional acts of leadership."