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Transcript:
UCLA Anderson School of Management
UCLA Anderson School of Management, established in 1935, is regarded among the very best business schools in the world. UCLA Anderson faculty are ranked #1 in "Intellectual Capital" by BusinessWeek and are renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides management education to more than 1,600 students enrolled in MBA, Executive MBA, Fully-Employed MBA and doctoral programs, and to more than 2,000 professional managers through executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a world-wide network of 35,000 alumni, UCLA Anderson develops and prepares global leaders. Visit UCLA Anderson's website here.
Guest List:
Phil Han, Associate Director, Parker Career Management Center
Dave Hodgman, MBA Student
Craig Hubbell, Associate Director of MBA Admissions
Angela Valerie Kline, Program Manager, Price Center of Entrepreneurial Studies
Al Osborne, Senior Associate Dean
Marta Peterson, Director of Financial Aid
Dustin Smith, MBA Student
Kaylee Smith, Wife of Dustin Smith
More information:
The Price Center provides experiences designed to prepare MBA students for the challenge of business management in entrepreneurial environments. For more info click here
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- Take an architectural tour
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- Discover student life at UCLA Anderson
- Contact us
- Discover our world class research centers
Transcription:
MBA Podcaster has launched a new Day in the Life Series. We’re traveling to business schools across the country and around the world to shadow current students, meet with deans, admissions directors and others to bring you an in-depth perspective of life on-campus. Schools include UCLA Anderson, Wharton, University of Chicago, Insead and many others. Visit our website at mbapodcaster.com to listen to any of our day in the life shows and see pictures and videos from campus. This month we bring you UCLA Anderson School of Management.
“Hi, my name is Dustin Smith.” “Students can develop the ability to seize and recognize opportunity.” “Los Angeles, Southern California is the hot bed of Real Estate.” “It’s a beautiful day as usual here at UCLA.” “Welcome to what is the 46th annual Knapp competition.” “I’m Dustin Smith, this is my partner Dave Hodgman and we are excited to introduce tonight to all of you Make Believe Inc. the winner of $12,500.” I’m Janet Nakano for MBA Podcaster and this is A Day in the Life at UCLA Anderson School of Management.
“My wife told me to go to bed at six o’clock this morning.” That’s full-time MBA student, Dustin Smith. “And so I fell asleep for a couple of hours and then got up and I got here at about 11which is fairly typical. My classes normally start at one o’clock in the afternoon right now so I have the morning to be with the family and do some work which I did this morning. I got some more work done, kind of hung out with the kids, pushed my daughter on the swing.” After pulling an all-nighter surprisingly Dustin isn’t looking all that tired. “As long as I don’t do more than one of them in a couple of weeks I’m fine.”
It’s probably the adrenaline that is keeping Dustin up. Today is a big day for him, he and his partner Dave Hodgman have made it to the finals of UCLA Anderson’s entrepreneurial contest called the Knapp Venture Competition. “It’s an event for students to bring their business plans to fruition.” That’s Angela Valerie Kline, Program Manager for the Price Center of Entrepreneurial Studies. “So from the beginning we run a number of different programs, a number of different events in order to bring the students to the finals. It starts with opportunities for them to form teams to take their business plans to the competition. The object is to have at least one Anderson student on the team in order to qualify for the competition. This year we had 50 teams that registered and 25 teams qualified for the semi-finals and then out of those semi-finals, five went on to the finals.” So tonight, Dustin and his partner will be competing against four other teams. The judges for the Knapp competition are venture capitalists from various industries and the hope for each of the teams is to get their businesses off the ground. Kline says she’s seen it happen. “I’ve only been here for about two and a half years and from those two years I’ve already seen two businesses get first round funding.”
At about one in the afternoon, Dustin and Dave are meeting in a small breakout room on-campus. Because of tonight’s competition they don’t have any classes today giving them extra time to rehearse their presentations. “I think of children’s ideas regularly, that’s kind of my realm is what kind of businesses could there be to entertain kids.” Dustin’s company, Make Believe Inc. will do just that, entertain kids by dropping them in their very own storybook. Whatever the results of tonight’s competition the plan is to continue developing the company. Dave says he’s staying on board, “We have some challenges ahead to make this thing work for real and we’re chugging ahead with it but I’ve been put in a great opportunity by meeting to him and being open to helping him out on this and working together on the business.”
Entrepreneurship is clearly one of the UCLA Anderson’s key strengths. Senior Associate Dean, Al Osborne says the program is fueled by Southern California’s entrepreneurial community. “The Anderson School has a rich playground if you will in our back yard to capitalize on those people in the entertainment industry, in high technology, in real estate which are key areas of business where our students can get into and be entrepreneurial. What is our philosophy? Well its entrepreneurship is something that can be taught, that students can develop the ability to seize and recognize opportunity. Shape it, manage it and exit successfully from it. The Knapp competition is the classic example of building upon some rigorous analysis to study market, determine the size of opportunity, how you put it together, integrate if you will all aspects of the curriculum that a student might be working on.”
The Price Center for Entrepreneurial Studies at Anderson not only offers some 20 elective courses in entrepreneurship but it also provides support in building industry connections. The Entrepreneur association, the largest student run organization on-campus also coordinates events and activities to help its members learn all aspects of the field. But entrepreneurship isn’t UCLA Anderson’s only strength says Dean Osborne, “The Anderson School has a renowned finance faculty, in fact when it comes to intellectual capital our faculty rated number one in the world. We also have strengths, intellectual strengths in the marketing area. Our marketing faculty is very successful particularly in the use of world renown for their abilities in quantitative methods applied to marketing. So that together with our interdistrict programs like entrepreneurship and what we’re trying to do now in entertainment management and real estate begin to define where Anderson is different from other schools.”
What is different also is that Anderson graduates end up in diverse industries more so than graduates of other business schools. Phil Han is the Associate Director of the Parker Career Management Center, “Over 12 percent of our students join the entertainment industry so among 330 students, that’s a pretty significant number. Real estate accounts for almost 10 percent and this is functional so it could be development, it could be finance but that’s still another significant portion of our students that join that. Entrepreneurs, each year we have about five to 10 percent depending on the year going into that. Part of that has to do with the economy and what is really available for them. The financial services that include investment banking, investment management, other areas range all the way to about 20 to 25 percent. Consulting comprises about 15 percent of our students go into consulting. Marketing and customer products also attract about five to eight percent of our students on a regular basis. So it’s a pretty significant number that do go into all the different areas. But if you compare ourselves to some of the other top business schools around the country, as you can see with some of these numbers we are very diverse.”
Real Estate is a popular field for Anderson students. Even though the real estate market Han says is somewhat on the brink, “Los Angeles, Southern California is a hot bed of real estate. That’s both commercial and residential so they still understand that if they want to be involved in real estate Los Angeles is a prime spot for it and that can range anywhere from financing to development to even management. Management is a little smaller but finance and development is an area that a lot of our students end up going into and there are large, large firms such as KB Home and other companies that will look at our students all the way to some of the smaller entrepreneurial shops that might come about that our students get into. Anderson Real Estate Association which is a student club that focuses on that is probably our second biggest, or third biggest student club that we have on campus so it’s definitely a very significant part of our students getting jobs and the careers that they pursue.”
Los Angeles is also well known for its connection to the media and entertainment industry. Anderson students have an advantage in this field just by being here says Han. But generally salaries in entertainment tend to be lower than other industries and he says finding a job may be more challenging, “Entertainment companies typically don’t go through the typical recruiting process where they come and do a presentation and then a few weeks later they collect resumes and then a few weeks later they come on-campus to conduct interviews. I would say a few that are large entertainment companies will do that but it’s much more through the clubs and some of the other activities that happen and through the job posting that we have and the alumni that we work with on a regular basis and all the major studios are part of that. Such as Walt Disney Company, NBC Universal, Twentieth Century Fox.”
“If you’re in core classes your first year there’s about 60 other people in the class with you.” It’s just after two o’clock and after meeting with Dave, Dustin agrees to take a break to show me around campus. “You can see right here actually there are two other rooms that are breakout rooms and these fit about five people each where a lot of group work at Anderson we do ton and tons of collaboration in fact very well known for the amount of work we do together to enhance our education so there are a lot of breakout rooms like that where we can get together with a group, hammer it out, almost like a board room meeting sometimes or depending on how close you are with your friends you can chat in there, have lunch, that type of stuff.”
UCLA’s Anderson School of Management is located on the University of California Los Angeles Campus. The University is in the western part of L.A. in the affluent neighborhood of Westwood. 360 students per full-time MBA class and then there’s also the Fend the Program, the fully included MBA program and the Executive MBA program and those are sometimes larger and sometimes smaller, those vary a little bit more. All at Anderson we can have a lot of students to be interacting with.”
How does that factor into the relationships that you make here? Is it more difficult do you think? “Believe it or not I think that it actually makes it easier because we can really break up into our interest groups where as I’m entrepreneurship and entertainment management and where those kind of come together so because there is such a diverse group here there are a bunch of other people who are into entrepreneurship and entertainment management so that’s really helped me find my niche within business school and get to know some people really well who like the same thing. I see alarms.”
What’s going on? “This doesn’t happen very happen we’re actually having a drill. We knew it was coming, they sent the email out, we’re having a drill, we have to go out and make sure everybody is safe. It’s like in high school or junior high when they get everyone together for the fire drills, let’s go outside. It’s kind of fun right? So right now we’re walking out toward the main quad, we’re going to see a whole bunch of undergrads lying on the grass chilling. It’s a beautiful day as usual here at UCLA. It’s sunny pretty much everyday and UCLA is pretty close to the ocean so it stays nice and cool during the summer and stays a little bit warmer during the winter so you get nice moderate seasons. A bunch of us do get together on the beach sometimes plus some volley ball, that’s the nice thing about being close to the beach, that you can go have some fun but then we’re here at school. Although it’s kind of a myth that we at Anderson are constantly working to dispel because we work hard, we don’t just go surfing. We had some recruiters coming in really thinking of Anderson as the kick back, have fun school when in reality we work probably harder than just about any other business school especially in our core classes. Our core classes are just killer. Let me introduce you to a couple of our international students who are friends of mine. Very big international base here at Anderson actually. Andrew’s from England, a really cool guy.” Where are you from specifically? “I’m from South Hampton which is about an hour away from London.” What were you doing there? “I was in sports marketing.” Sports marketing so you wanted to get into entertainment? “No. God no. I wanted to get out of it. Now I’m going into investment banking.” Why did you choose UCLA? “When you’re from England and you know that everyday is going to be sunny compared to over there, the hardest decision that I have everyday now is what shorts to wear opposed to wearing jeans. For me I knew it had a really good finance, I knew I was going to end up in New York afterwards and I couldn’t see any other options that I had to live in California, live by the beach on the west coast.” Where do you guys live? “I live in Santa Monica.” “I’m actually in the married student housing which is great because it’s a great apartment, they keep them perfectly pristine, chief of all get ups. I love it.” How long does it take you to get here? “Good day or bad day right?” “Yes, depending on when class is, if class is at eight I can take 10 to 20 minutes door to door and that’s including car parking, getting out of parking structure. If I’m coming in for a four o’clock it’s going to be 45 minutes.” “No question that traffic is the downfall living down here.”
After enjoying a little break outside we head back to the business school campus. The Anderson buildings surround a courtyard and in the center is the Roma Café, the school’s small cafeteria. “Most of the time you see a whole bunch of students hanging out talking out here. Most of our classes actually end on Thursdays, right now we don’t have any Friday classes so this is Thursday afternoon, people kind of getting ready to see what’s going to happen for the weekend. So you see everyone is kind of chilling. Technically Fridays are supposed to be recruiting days and they are used a lot for that. Then also for some special events the way the curriculum is structured you get your work done in four days, you spend the weekend doing some homework, working on internships and that kind of stuff and then you come back refreshed.”
At one of the tables outside of Roma Café coincidently we see Dave looking over some notes, “Hello. That’s set up. Just kidding.” “What?” “That we got back with you, that’s great.” We grabbed a seat next to Dave for a quick chat before both of them have to get ready for tonight’s competition. “Visiting other schools I don’t know if you really get a good sense of the culture of it and what you might hear from people because you’ll have a bus driver actually involved in it but we’re all graded on a curve and stuff but no one that I’ve been aware of is fighting with each other to get the better grade. It’s all totally seize those words I hadn’t used since I was looking into school like collegiate and collaborative totally applies because people are laid back but they’re very serious but I think there’s a good balance not taking yourself too seriously. That’s something that I really like here.” “On the collegial side, Dave and I have experienced some of that in starting this business. A lot of people around the school know about it and so everyone is constantly asking us what is going on and seeing if they can help out and that applies to job searches, the education process and all that. People really do kind of look out for each other and part of that is set up by being put in sections right in the beginning of your first year, you get to know people so well.”
So how do you feel about that? “I mean we’re are in the start a business and all that but the competition itself is more fun so we’ve never taken it too seriously in that regard. We’re here to have fun so whatever happens we’re just having fun in the process.” “This work we’ve done is absolutely in line with all the work we’d be doing along the line anyways. We had to write a business plan and we have to pitch it to people and there’s not much that we had to do for this that was way out of line of the type of work that we would do anyways so it just really works really well with our overall time line and work we need to do on the business.”
It’s now a couple hours before the Knapp competition, we’ll get a chance to hear Dustin and Dave’s presentation a little later. UCLA Anderson has four rounds of deadlines for its full-time program, October, January, February and April. “The main things that we are looking for on the admissions committee,” That’s Craig Hubbell, Associate Director of MBA Admissions, “are number one of course academic horse power as demonstrated through undergraduate grads and current test scores. Just as important we’re looking for management potential in all of its forms. So some people have started their careers already and they have started to take on leadership roles and we also take some people straight out of undergrad whose only chance is to show management or leadership potential were in extracurricular activities or say running community activities. We also look for a good focus on the future because the candidates need to have done their homework on what a MBA is useful for and how specifically UCLA Anderson can fit into their career plan. We also naturally like to see support from outsiders in the form of letters of recommendation which ideally would confirm everything that the applicant had said what they did in their job and how they performed at a higher level than their peers. Finally we try to interview everybody that we admit because here we’re very concerned about the fit into our culture so based on all that we have kind of a holistic approach actually. We’re looking at the entire application and all of the different elements of it and we have some flexibility in the admissions because we don’t want people who are all just academic stars, we also want some people who are good leaders in their communities or who have great career achievements to share with their classmates.”
Applicants to UCLA Anderson are required to write three essays. Hubbell says the first essay is a personal one asking you to write about your family history and a significant memory of your youth. “We get the question a lot around the world at different events, ‘Well what are you really looking for in that question?’ well what we’re really looking for is a two page portrait of you as a person. We think it shows what is important to someone based on what they choose to write about and also it’s a test of their communication skills obviously so they need to be able to communicate this in a sized, compactful, compelling way. It’s kind of interesting actually the range of admissions essays we see. Some people don’t put much thought into it, they just write the facts of what happened. That’s part of it but we want to know what’s important to you, why was it important? For example, you were raised by a single mother or something, how did that impact you? In terms of the essays that we require, the second one is a leadership essay where just one page we want them to describe okay what impact did you have specifically on this organization or this event that that you’re talking about. So some people in that page list all the different things they were involved in and they’re missing the point of the question because the question is really driving at can you give an example that shows how you were able to prove your leadership skills and convince other people to follow you and achieve something significant. And finally the third essay is supposed to be mostly about the future because it’s asking what are your career goals, why an MBA why, why specifically UCLA Anderson. We are most impressed by the people who make a logical case and have a logical progression from what they did in the past through the MBA curriculum to some short term and long term goals. What’s most impressive to us is that if people have researched the school so they understand all the different incredible opportunities that we have here to get involved and to learn about different career fields. So we like to see them write about the extracurricular clubs they want to join and how that’s going to help them network their way into their ideal career. We want to hear about the fun clubs that they’d like to join because that again helps us to get a more rounded picture of them as a person. We also like to see that they have a good career focus that is reachable based on their past experience when you add an MBA. And to be honest one mistake that a lot of people make is that they write about the past. Yes it is true that you need to lay the foundation blocks before you can build this bridge to the future but when we have the whole rest of the application to read their life story this essay is supposed to be about where do you want to go from here.”
Tuition for California residents is currently about $28,000. For out of state residents it’s a little over $37,000. If you add the cost of housing, books and other fees students should budget between $52,000 and $61,000 a year. Marta Peterson is Director of Financial Aid, she says that while it’s a large amount of money there are a number of fellowships awarded to students. “They’re hand selected by the admissions committee and they range from $10,000 to $30,000 for either one or two years. There’s no separate application, it’s all based on the strength of their application for admission. We also have a pretty wide variety of second fellowships that our students can apply for. We have fellowships that range from full tuition and fees to down as low as $5,000. We also have a very small grant fund, actually we have two. One is from UCLA itself and one from the Anderson School. For all our students who apply for financial aid and show need based aid which is their expected contribution is subtracted from their nine month budget that determines their need based aid. We have a $900 grant from the university and then also a $1500 grant from the school.” This student budget doesn’t cover the cost of incidentals so you may want to bring some extra cash. “The budgets that we determine financial aid from are unrealistically low. I have worked here long enough to know that the average student needs between $3 and $6,000 more just for the nine month period. So one of the things that I very much encourage our students to do is in that annual budget or that nine month budget there are no allowances for credit card debt or car payment or moving expenses so I encourage students when they’ve just been admitted, when they’re looking forward to this new venture to work on paying down those debts and even if they know that their expenses are going to be much higher to take out a personal loan while they’re still working before they come to school. Because one of the things that a lot of students do is supplement their financial aid with credit cards. There are often times when those credit card rates are great but sometimes a personal loan will give them a little bit more flexibility.”
At about five o’clock people are gathering inside Korn Hall, the campus auditorium for the Knapp competition. Dustin and Dave are scheduled to be the very last group to present at 7:45. “Thank you very much. Really, welcome to what is the 26th annual Knapp Venture competition. This competition really is a premier event at the school designed to provide our students with an intensive learning experience that engages them right in the middle of the entrepreneurial process.” After a quick introductions the teams begin their presentations. “We have information sharing technology to give visibility to the intelligence that can prevent the next terrorist incident.” “Taste the Nation seeks to be a bridge between adventurous food lovers and the thousands but great largely undiscovered ethnic restaurants in our country. These are catered to immigrant committees, such as a Chinese noodle shop that makes.” “Open angle glaucoma is the worlds leading cause of preventable blindness. Take for example, a man named Mr. Murphy who was diagnosed with open angle glaucoma in the early 1990’s.” At last, Dustin and Dave are up next, “Good evening! I’ve Dustin Smith, this is my parents Dave Hodgman and we are exciting to introduce to you tonight to all of you, Make Believe Inc. This an interactive, entertaining retail concept for kids based on customized children’s books. A chain of retail stores, mall based and we make them into cartoons and drop them into their very own stories. They walk out the door with a book in hand. We are going to be talking about business model here and that’s going to be the bulk of this but I did want to give you a little bit of flavor.” “About a year ago I aligned myself behind energy, the drive and the belief that makes believing could happen as Dustin Smith so clearly exhibits. Between the two of us we bring experience in starting up businesses, experience in entertainment and experience in developing financing.” “Great idea and it sounds like a lot of fun for children and their parents, I think that whole experience is really a wonderful idea. I think that the problem you’re facing is that you’re really talking about retail stores.” “One of my biggest questions was in your business plan you only have about 10 bucks margins on each of those books that you sell.” “I thought it was fantastic, I thought that between you two and the passion, the graphics, the thought that’s gone in to it.” “And lastly we just wanted to thank all of you for attending and joining us for the Knapp competition.”
After the presentations the judges retreat to make their decisions. We all wait at the reception in the hall atrium sipping champagne and having hor’dourves. Dustin’s wife Kaylee came out for the event. As a spouse as an Anderson student Kaylee says they’ve managed to find quality time around his busy schedule, “It’s been nice though in that even though his schedule has been so busy they have in theory Fridays off. We have two small children so as long as he doesn’t have any meetings or group meetings or anything like that we’ve been able to do Disney Land on Fridays and things like that.” At nine o’clock we see the judges make their way down to the reception to announce the winners. I have to say I’m rooting for Dustin and Dave’s company, Make Believe. “First off, it was a really tough up in the deliberations room. All of the teams that participated tonight did a phenomenal job so thank you so much.” “There was one really great thing that happened with the People’s Choice Award, all to be named from now on as the American Idol Award. Is that there were only four votes that separated the top two. Which is a really fantastic and a lot of you voted and I really appreciate that. But the winner was Make Believe.” “So I’ve been nominated to state the third prize. And that is a company that is a check for $5,000. That will keep you busy right? Make Believe.” “The runner up will receive a check for $7,000 and that goes to Eye Light.” “The winner, $12,500, Taste the Nation.” So there you have it, Make Believe won third place and the People’s Choice Award. They also won $5,000 to invest back into their company.
Though Dustin does seem a little disappointed, I think having a little flashy stuff we showed you guys earlier helped. It’s great to see our best friends wins. Those are people we’ve been helping them with their plans, they’ve been helping us with ours. Fantastic presentations from what I hear, I didn’t get to see them but I heard it is just a great competition so it was fun, it was a lot of fun.” By 10 o’clock people are slowly clearing out of the hall and heading home. But not Dustin, he still has a fun night planned ahead. “Tonight my family and I are going to see the Pirates of the Caribbean at downtown in Hollywood so it’s going to be a lot of fun, the 12:01 showing, the opening showing, people dressed up in costumes and everything. It’s part of the fun of being in L.A., roll through an event like this into something else where you just get to relax and have fun.” So you’re going to change into a pirate outfit? “Last year when we went to the premiere we did wear pirate outfits, this year we’ll probably go a little more casual.” Congratulations. “Thank you.” |
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发表于 2010-3-22 23:18:33
