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MBA degree

Some people would argue that MBA students and MBA degree holders think to much of themselves. 

It might as well be true, I don’t know for sure :-)   But I heard some time ago that one of the distinct human traits is being able to poke fun at yourself. It kinda stuck in my head, alas I don’t remember who is the author of this statement.
Nevertherless, my classes for the week are all attended. And since the finals are not in for another four weeks, I will just have enjoyable time doing my homework: solving problems on Managerial Accounting, writing up a case on Global Perspectives,  reading textbooks and additional materials. That’s going to be fun. Actually, I am going to a party tomorrow night. Maybe I will even report on it later in my blog.

Now speaking of different kind of fun.  Over time I ran in quite a few jokes about MBA. Some of them are actually funny. Here are just a few of my favorites:


You know you are an MBA when:

You think it is actually efficient to write a ten-page paper with six other people you do not know.
You believe you never have any problems in your life, just ‘issues’ and ‘improvement opportunities’.
You refer to your previous life as ‘my sunk costs.’
Your favorite artist is the one who does the dot drawings for the Wall Street Journal.
You decided the only way to afford a house is to call your fellow alumni and offer to name a room after them if they help with the down payment.
Your ‘deliverable’ for Sunday evening is clean laundry and paid bills.
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And since I am in part-time MBA program myself, I find these two YouTube videos particularly funny:

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Management Parable:
A turkey was chatting with a bull. “I would love to be able to get to the top of that tree,” sighed the turkey, “but I haven’t got the energy.” “Well, why don’t you nibble on some of my droppings?” replied the bull. They’re packed with nutrients.” The turkey pecked at a lump of dung and found that it actually gave him enough strength to reach the first branch of the tree.
The next day, after eating some more dung, he reached the second branch.
Finally after a fourth night, there he was proudly perched at the top of the tree. Soon he was promptly spotted by a farmer, who shot the turkey out of the tree.

Management Lesson:
Bullshit might get you to the top, but it won’t keep you there.
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Some more of these jokes could be found here.

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A cowboy walks into a cafe with a shotgun in one hand and a bucket of buffalo manure in the other. He says to the waiter, “Bring me some coffee.” The waiter says, “Sure, coming right up.” He gets the cowboy a big  mug of coffee, and the cowboy drinks it down in one gulp, picks up the bucket of manure, throws it into the air, blasts it with the shotgun, then just walks out. The next morning the cowboy returns, with a bucket of manure and a shortgun again. He walks up to the counter and asks for coffee. The waiter says, “Whoa, Dude! We’re still cleaning up your mess from yesterday. What the heck was all that about, anyway?” The cowboy answers: ”I am getting ready to go for my MBA, so after that I could qualify for an executive position: Come in, drink coffee, shoot shit, leave mess for others to clean up, disappear for rest of day.”

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An American businessman was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, “Only a little while, senor.”
The American then asked, “Why didn’t you stay out longer and catch more fish?”
The Mexican said he had enough to support his family’s immediate needs.
The American then asked, “But what do you do with the rest of your time?”
The Mexican fisherman said, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos. I have a full and busy life, senor.”
The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually NYC where you will run your expanding enterprise.”
The Mexican fisherman asked, “But senor, how long will this all take?”
To which the American replied, “15-20 years.”
“But what then, senor?”
The American laughed and said, “That’s the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions.”
“Millions, senor? Then what?”
The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos.”

Other non-MBA jokes could be found here.

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This week I am feeling quite satisfied with my preparation for classes. This is actually first time in this Spring module that I was able to study and work through most of the material assigned to homework. The keyword here is most. The important part of the MBA experience is to work under pressure and prioritize.

Arguably, the MBA courses in all reputable business schools are designed in such a way that students cannot possibly work through every single assignment they are given.  This is a built-in component of the curriculum in order to train business leaders and business managers ready to deal with the real-world environment. One needs to be able to identify the most relevant and important focal points within every assignment and concentrate on them, because there is no time in the world, or at least in any reasonable person’s schedule, to go through all and everything assigned for homework.

This is especially true with the new format of the MBA program adopted at George Washington University School of Business for this academic year. Before this year there were regular 3-credit classes that ran for the whole semester. Now we have this modular system with courses worth 1.5 credits and lasting for 7 weeks only. The administration of the business school has of course their rationale for introducing the modular system. Regardless of whether that explanation valid or not, the modular system puts more pressure on both instructors and students.

I cannot argue on pros and cons on this matter since I only have been doing my MBA program after the modular system had already been introduced. So I don’t have relevant experience on before and after. But I have some common sense observations. Basically it boils down to doing more than half of the previous course learning in just half the time. Which inevitably shifts even more of the studying from the classroom time to self-study.

That said, I personally very concerned about getting something of real value, relevance and applicability from my MBA studies, not just the grades and eventually a diploma. So far I found all my courses quite relevant and of good application value. That’s why whenever I can (and it’s not often), I try to consume and work through as much of the material as possible.

This week was good in that regard. I have already finished required reading for both of my classes this week: Global Perspectives and Managerial Accounting. I worked on the required cases for both of them. I feel I have a reasonable grip on the concepts and ideas for both classes. I still will have time to work on additional problems for Managerial Accounting tomorrow night, and, very important – it’s not 3 in the morning yet, and I am ready to go to bed!

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Finished the second week of classes in my first module of Spring Term. The intensity is picking up just a little bit, but so far very manageable. It’s probably going to change this weekend when I will have work on two major projects:

  • I am planning to work on my section for Risk Analysis Group Paper in Global Perspectives class. My intention is to have it finished and submitted to the person who was elected an “editor-in-chief” by the group. Technically we agreed to have all submissions in by January 31, so we will have time for cross-reviewing each other’s work, and then have the “editor” to tie it nicely in one unified final paper. But I want to have my part done ASAP, so I will not get distracted by this later in the module when I will have finals looming on me. Also this coming week we are going to have the first of the three graded quizzes. So I will have to read up some of the stuff I have skipped earlier.
  • I will also have to allocate some time for working on my group case in Managerial Accounting. The case we submitted today was relatively short, total 17 pages of description and supporting exhibits. The one due next week is 40 pages long, so it may turn to be quite time consuming to prepare it.

Short reminiscence about our work on the case in Managerial Accounting. We have done most of the collaboration via emails. Yesterday, actually, three of the five in our group managed to get together on campus to discuss the case and decide what approach to take in solving the problems on the case. I did not even know about the meeting, so I was working independently on the case until almost 2 in the morning and submitted my write up to the group.

At some point during my work I received an email from the three with their write up. I thought that it was not quite on target, and they missed some crucial point in the case, so I continued to do my write up. When I finished I sent it to the group, solisiting their opinion. They thought that my approach to one of the three questions in the case was off target. Dah!

At any rate during the day I managed to to find some time to put together their and my versions in submittable format. The idea was to have two variants available for submission and decide in group which one to submit for grading. Half an hour before the class we had a short  “emergency” meeting to re-hash the case and decide which version to submit. My variant was voted out. So we submitted the version prepared mostly by the group of three. That was OK with me. Especially because when professor went over the case in class, it turned out that most of assumptions in both variants were not quite accurate. This was another time in Managerial Accounting when I witnessed that “nothing is what it seems to be”.

Final note on Managerial Accounting case. In my approach to solving the case I “over-thought” the questions. I thought that approach taken by my team mates was too simplistic. So I dived into more sophisticated “slicing and dicing” of the numbers. As it turned out I digged to deep in not quite right direction. The solution from professor came out more elegant and less cumbersome in number crunching part then mine.  

This issue of ”overthinking” on my part has  already manifested in my Fall Term of the MBA program. It was in Microeconomics group project. I see the pattern and now I will try to be aware of this fact and try to avoid falling in the trap again. That’s why I am doing this part-time MBA program anyways: to learn to think in more general concepts from particular factual tidbits, rather than drowning in the swamp of irrelevant data. I guess the reverse process is also necessary. One just needs to know which is applicable in particular situation.

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Global Perspectives Risk Analysis Paper

January 19, 2010

On Tuesday we had a group meeting to discuss the general approach and outline for our course group paper in Global Perspectives class. It was suggested to meet at one of the bar lounges on the campus, so our almost 2-hour meeting was over pizza and beer. Very inducive environment for discussing any business issues, including [...]

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Part-time MBA at GWSB – Spring Term First Week Summary

January 15, 2010

The first week of classes in my Spring Term at GWSB is over. Now I have to concentrate on the homework assignments which are quite intense. Good that I have Monday off to spend more time on reading and solving cases for classes. A short summary of the week. I am very pleased with both [...]

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Global Perspectives – First Day of Classes at Part-time MBA Spring Term

January 13, 2010

On Wednesday I had my first class in the Spring Term – Global Perspectives. I enjoyed the class and got very favorable impression of the professor. He has been teaching in the International Business Department for a long time and still has not lost interest in teaching the subject. The subject itself is very interesting [...]

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Is MBA Losing its Appeal?

January 7, 2010

MBA degree, inspite of all ups and downs in public perception and acceptance from the time of its inception, have nevertheless managed to keep the status of a highly desirable and prestigious professional designation. The desirability of MBA has been mainly connected to the career and income growth opportunity. Those opportunities were mostly determined by [...]

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Part-time MBA Classes Selection for Spring Term

January 5, 2010

// This past weekend I finalized my classes for the Spring term. In this seemingly simple decision there are a few caveats I was not aware of when I was choosing my classes for the Fall term, and was still learning during this registration period. In summer I just picked whatever classes did not have other [...]

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Part-time MBA Fall Term Graded

December 23, 2009

Today I received my last grades for the second half term in fall semester. This makes it closed both officially and emotionally  I am happy that I made it through. My GPA is actually still over 3, inspite of my little snafu with Financial Accounting-II. Hurray and on into the winter break and celebration time! I mentioned [...]

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Spring Term Part-time MBA: Managerial Accounting

December 22, 2009

My professor in one of the classes I signed up for a spring term has already placed the syllabus and the home assignment for the first class. It actually happened a week ago, I just did not have time to get to it before. That’s almost a month before the first class! I appreciate this [...]

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Part-time MBA on Winter Break!

December 17, 2009

On Thursday I had my last class in Fall term. My part-time MBA first term is officially over. In Business Ethics class we turned in our final research papers. Professor said he will get to grading them next day, so he hoped we will have our grades within a week. I also got my grade [...]

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Decision Making Final

December 13, 2009

Today I spent half of the day reviewing material for the take home part of the final on Decision Making. It was excruciating. After 5 PM I decided that there is no point to try to catch all the pieces of the course. So I downloaded the exam and just worked on the problems. It [...]

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Girding Up for MBA Term Finals

December 8, 2009

Now is the final week of classes for this half-term. Yesterday I had my last class before the exam for Decision Making. Professor has announced the format of the final. It will be a combination of in-class and take home assignments that need to be submitted online. This time instead of 24-hours window for submission, [...]

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Welch MBA – Any Takers?

December 7, 2009

Read an article today about new online offering in business education: online MBA degree from Jack Welch Management Institute. The guy has already made a name for himself, even if occasionally in dubious nominations. Nevertheless, he was named the Manager of the Century by Fortune in 1999, and obviously has something to say about business. Now he [...]

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Direct-to-Consumer Advertising of Prescription Drugs Research

December 5, 2009

My MBA program studies take more and more serious toll on the time. Makes me wonder why I still keep calling it it part-time MBA. Spent all day on Saturday and well into the night working on the paper in Business Ethics . My share was to reflect on the effects of Direct-to-Consumer advertising on doctor-patient relationship. Since [...]

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MBA Application Season Tips

December 4, 2009

There are many things that the applicants to MBA programs have to do during the application phase. Of course, on top of the list for most aplicants is getting GMAT nailed. Whether one needs 750 or just 550 score, it still requires preparation. The reason is that the test itself is rather challenging, there is a [...]

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Financial Accounting Double Mixer

December 3, 2009

Yesterday I got a news on my final grade in Financial Accounting-I, finally. I got a “B” and was extremely happy about that. I had been really concerned about a possibility of just barely passing it. It is a good news, as it means that I am legitimately continuing with my part-time MBA program.  Obviously, [...]

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Decision Making Mid-term Results

December 1, 2009

On Monday we received our mid-term papers for the exam we took last week. The answers had been actually posted a few day earlier, so I had general idea where I was standinng. Nevertheless I was waiting eagerly as I saw some of my solutions to more complicated problems were conceptually correct, but had some [...]

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My GMAT Preparation for Part-time MBA Recap

November 29, 2009

Here is a short followup on my yesterday’s GMAT post. In my preparation for GMAT I did not use any in-class or online prep courses. The reason is quite obvious – I was not applying to top 10-20 full-time MBA programs, which have a very high break-in GMAT score. Part-time MBA programs available in Washington, [...]

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GMAT Anniversary

November 28, 2009

Today is a one year anniversary of my first attempt on GMAT. To be more precise, it was not on the same date, but the same day- Saturday after Thanksgiving a year ago. On Friday before the test I knew it was not one of my brightest decisions to schedule the test for that Saturday. [...]

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MBA Recess

November 27, 2009

When instructor in Financial Accounting II told us at the very first session that we would not have a class on Wednesday before Thanksgiving, and we would have to learn material for that week on our own, I felt a bit dissappointed. First, because for me personally the face time in the classroom is very [...]

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Part-time MBA Marketed

November 25, 2009

I was thinking about what different names part-time MBA programs go by. The most obvious generic name describing the essense of these programs is obviously plain and simple, no thrills – part-time MBA. But, of course, the Business Schools would want to differentiate themselves from each other and to emphasize distinctive features of part-time programs [...]

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Mid -Term Decision Making Exam-Done!

November 22, 2009

Today I took my first exam in this half-term. As I said earlier in my posts it had to be downloaded from the Blackboard and after completion submitted to the instructor via Blackboard too. Most of my instructors in MBA program use the Blackboard quite extensively. Of course, no one uses even half of the features [...]

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GMAT Score for MBA Applicants

November 20, 2009

GMAT is one of the major hurdles to overcome in pursuing admission to an MBA progrram. No wonder then that a big deal of attention is paid by every applicant to scoring high on this test. I’ll talk a bit about this as now is high season for GMAT taking, because of the second, and [...]

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Quants and MBA Anxiety

November 16, 2009

This past Wednesday when I left my class in Financial Accounting I had a sheer anxiety attack. It was not a panic attack yet, as there are no half-term finals for at least another 4 weeks. But it was really very scary.  This was not based only on my feelings of inadequacy from the class in [...]

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Business Ethics – a Softer Side of MBA Program

October 29, 2009

Today I had my first class in Business Ethics in this half-term. The class is shaping up to be a pretty soft one compared to the other two. One thing which is different about this class from any other I have taken so far is that it has no in-class final exam. Actually I take [...]

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Financial Accounting II – MBA immersion

October 28, 2009

Today I had my first class in Financial Accounting II. I have different professor from my previous Fin Accounting course. And she is really very different: very sharp, to the point, very well organized. Her lecture, like the whole course, was very well prepared and laid out. And she was giving clear explanation to the [...]

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Judgment/Uncertainty and Decision Making. Intro to Descriptive Stats

October 26, 2009

Today I had my first class in the second half-term: Judgment/Uncertainty and Decision Making. This course is a predecessor and pre-requisite for more advanced and, I assume, more quantitatively rigorous course Data Analysis and Decision. I actually liked the professor’s approach quite a bit, because it was in stark contrast with my Financial Accounting classroom [...]

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Schedule of Classes and MBA Textbooks on the Cheap (not quite)

October 23, 2009

As the half-term finals are over, there is in fact very little time to relax. My next batch of classes starts on Monday as I mentioned before. Next half-term is definitely going to be more excruciating.  If in the first half-term I had two classes, now I am going to have three. And two of [...]

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Half Term is Over. Long live MBA!

October 22, 2009

I would like to start by saying that I have been enjoying my MBA experience so far. It has been challenging, but this is exactly what I like about it. If you try to keep status quo in your life and career, you inevitably slide back and loose the ground. I want to move forward, [...]

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Prep for Financial Accounting Final

October 21, 2009

Took my final on Microeconomics tonight. It was not really very difficult. Total of 18 questions, ten of which were multiple choice, and eight – short answer questions.  Even though it did not seem to be very difficult, it took me more time than anyone else in the group to finish it. I was the [...]

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Prep for Microeconomics Final

October 20, 2009

Spent the evening going again through the problems we solved in class and in homework. Microeconomics seems to me more intuitive than Financial Accounting. But still it’s a lot of formulas with just relatively few variables in too many different combinations, like P, Q, C, AC, FC, AFC, VC, AVC, changes, % of changes, MPL, [...]

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Cramming for Financial Accounting Final

October 19, 2009

Spent the whole weekend, net of time taking kids to activities and parties, and attending Exam Review Session for Microeconomics on campus, preparing for Financial Accounting Final Exam, which is already on Wednesday. I have to admit it is quite a brutal subject for a ‘right brain’ person like myself. As professor mentioned in class [...]

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Microeconomics and Impending Finals

October 18, 2009

For the last few days I have been playing around with the set up and tweaking of my site. I am still learning how to add new pages, posts, how to put them in proper hierarchy, etc. This is the reason why I have not been posting. I would like to have the site to [...]

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Intro to My Blog

October 15, 2009

In my blog I have been writing about my experience of going through the MBA program as a part-time student, full-time employee, full-time husband and father. I hope that some of my experience will be helpful to others who are considering taking on this endeavor of going part-time or even full-time MBA for that matter. My [...]

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