Category Archives: Life After MBA

Career, Clubs, Life After MBA, Networking

What it takes to be a good consultant

Many of MBA candidates aspire to become a management consultant via post-MBA career path. In lectures and workshops, professors share lots of consulting specific frameworks, tools and problem solving methodologies with carefully chosen business case study materials but Nanyang MBA students are always eager to go the extra mile.

In October 2015,  form consultant of Singapore Deloitte and member of the Nanyang MBA AY16 cohort, Kevin Sehoon Son, conducted a 2 hours sharing session to showcase a typical day of a consultant. All participants were extremely keen to learn from a real-life story of a former consultant and appreciated the chance to get a glimpse into the types of problems that consultants solve for business leaders, such as market entry strategy, turn-around strategy, post merger integration, business transformation and etc.

As the session was a success, Kevin´s mentor from Deloitte Singapore, Dr. Yong Chet, was invited  to address the cohort so that students get a feel for what it takes to be a good consultant from a senior executive level’s point of view.

On December 15, Dr. Yong conducted another 2 hours-long sharing session at the NBS Bistro. The speaker brought an inspiring carrer-changing story to the event: the senior executive once left his job as a surgeon to become a business consultant. He just recently rechieved his MBA title and with over 5 years of management consulting experience as a Director he was able to provide valuable insights into the management consulting industry.

Dr. Yong´s speech was highly relevant for all session attendants to prepare for a career in consulting. Besides offering tips how to fine-tune resume and coverletter for successful applications, the 3 most important take-aways from his speech are the following:

  1. Likeability: Consultants communicate with clients on a daily basis. Even if a candidate has fluent communication skills and brilliant problem solving skills, clients would not want to continue business a consultant who is not likeable and warm hearted. As we all are human beings, we are inevitably biased to prefer likeable people.
  2. Quick learning skills: Consultants are not genius in evey aspect of a problem as there must be more than zillion types of different problem scenarios in the worlds. There is no cookie-cutter solution to solve problem dynamics. Hence, consultant must be able to quickly acquire required knowledged. As Dr. Yong was a surgeon, he know that it is a difficult challenges to gain knowledge about unfamiliar industries when handling a diverse range of clients.
  3. Time management: Consutant are given flexibility in terms of work hours but there are heavy responsibilites to take care of to meet clients’ expectations. Time management is crucial and sometimes consultants need to make tbe commitment to wake up at 3 am to join conference calls from other continents. Thus, candidates must have the right mindset to best serve clients and become a competent consultant.

At the end of Dr Yong´s speech, students proactively approached the speaker and started outlining their career goals to seek advice over beer and soft drinks.

Looking back on a successful club event, the Consulting clubs would like to say thank you to the  graduate studies career development office for sponsoring the initaitve and promises that The Nanyang MBA will carry on the initiatives to invite industry experts to share knowledge and actively expand networks.

Consulting Two

 Rachel Ng Mui Cher from the Post-Graduate Office with Dr Yong from Deloitte

Career, Life After MBA, Networking

Overview of China Banking – the “Alumni Leaders Dialogue” series

December 4, 2015

Alumni Leaders Dialogue with Eric Lian, CEO of UOB (China) 

The Invitation to the 4th Alumni Leaders Dialogue with Mr Eric Lian, President and CEO of UOB China, was issued to all current graduate program participants of Nanyang Business School. All seats at the NTU campus venue were taken when Mr Lian spoke about the issues oft he banking business in China and the outlook for the fastest growing economy of the world. 

With more than 20 years of banking experience in business and risk management, Mr Eric Lian joined UOB in July 2013 and was appointed President and CEO of UOB (China) shortly thereafter. He is also member of the Bank’s Executive Committee.

During the December session of the Alumni Leaders Dialogue series, Mr Lian provided an operator´s view on the banking business in China and helped the present audience understand the status quo of the Chinese economy and outlined his view on the development plans of China´s government.

During his address, the veteran banker shared his expert opinion on the China Banking Landscape, sketched the “One Belt, One Road” Initiative and elaborated on Free Trade Zones within China.

After pointing out the three main aspects of China´s exceptional growth, he illustrated his personal conclusions on the future of China and derived implications for banks or corporations who wish to do business in China.

According to Mr LIan, the internationalization of the Renminbi as the 5th most traded currency worldwide, the tremendous wealth among the people in mainland China, and continuous liberalization of cross-border RMB flows, will be strong growth drivers for the future of China.

“We all know that China does not produce millionaires anymore. They produce billionaires”, said Eric Lian. After a long period of government subsidies over the past years, the country has come to be the world´s second largest and fastest growing economy in terms of GDP measures. Spending money in the desired growth sectors, supporting the development of core industry´s competences and intensively driving up demand, China as thee “factory of the world” has accumulated over-capacities, inefficient structures and unsustainable business practices. Now, a painful period of restructuring causes growth figures to slowdown and makes the world hold its breath. However, China government initiatives such as the “One Belt, One Road” policy, that aims to secure resources, develop the Chinese export markets, and prepares new growth paths to offset over-capacities, clearly signal that China still sets the course for growth.

Besides speaking of China Banking in the macroeconomic context, Mr Lian also gave an insightful introduction into Chinese business culture and frankly presented his view of Chinese investment management practices to the attending students. Other than European clients, Chinese middle class clients primarily focus on investing their savings in stocks but at the same time wish to offset the risk resulting from volatility in the stock market by investing in real estate as early as possible. “If you want to get married in China, you need to own a house”, he explained to the diverse group of international students. Thus, the challenges faced when dealing with clients in China are very different from the needs of clients in other parts of the world.

Responding to questions from his attentive audience, the speaker closed his talk by outlining his response to competition from online banks and e-commerce firms. The disruption caused by digital players forces traditional banks to rethink their strategy, adjust their way of working to the digital reality and restructure not only their product portfolio but also their interactions with customers around the world.

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MBA Student Michael Hold at the Q&A session

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Mr Lian addressing NBS graduate students

Career, Life After MBA, Useful Tools and Tips

5 Tips To Get You Geared Up For Your Sales Meeting

Meetings are a regular part of business. There are meetings with your team, meetings with your subordinates, meetings with your seniors, meetings with board members and so on. Another kind of meeting that requires different strategies and talent is the sales meeting. There is a special way to participate in business meetings with prospective clients and where you are trying to finalise a sale. So you could be a pro at meetings involving your own co-workers but not so confident at handling things outside.

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Here are 5 tips to get you ready for your next sales meeting:

  1. Gather background information: Whenever you make a sales call, it helps to know your prospect. Do your research with the help of the Internet, your network and anything else you can get your hands on. By the time you reach the meeting, you should be familiar with the person’s company and have an idea about his or her needs and wants so that you can address them. How can your product or service create a difference for the prospective client? Be prepared.
  2. Set a clear objective: When you walk into a sales meeting, you should ask yourself how your time spent there will increase your sales. To avoid frustration and a waste of time, have your detailed answer ready. The objective should be specific. For example, you could decide to use the meeting to teach sales representatives about Product X. And success could be attained if 90% of the representatives reach your target sales quota within the quarter. Your job is to let everybody at the meeting know exactly what the goal is. Awareness and understanding are important.
  3. Ask qualifying questions: There’s a difference between pitching to a prospect and holding a sales meeting with him. The meeting is supposed to be a conversation – so you shouldn’t be the only one talking. While you intelligently steer the discussion toward his/her organisation’s needs and possible solutions, you need to make sure that it brings results. Listen well and ask good questions. For instance, you should find out who will be making the final decision on the sale.
  4. Prepare high-quality material: The printed tools that you carry into your sales meeting should be of high quality. That means that the business cards, brochures, stationery and estimate sheets should all be immaculate. Check for writing quality. Is the grammar and spelling all fine? Do you see anything that could read better? Fix it. How about the colours, typeface and design? Pay attention to every detail because you do not want to lose out to fellow contenders because of unattractive, uninformative materials.
  5. Share case histories: Stories that demonstrate the ways that you and your team have successfully met client needs should be presented at the meeting. Whether you are employing the use of a long slide presentation or talking through most of it, keep more than two case histories at hand. Never directly criticise a competitor but tactfully point out how you can do things better in the case at hand. Tell the story with a focus on your company’s strengths and the benefits your clients enjoy.

Remember, the sales meeting is where you position yourself and your company in a field full of players. So let the conversation be your best.

Blog, International Exposure, Life After MBA, Life at Nanyang, Networking, The NANYANG MBA

5 Reasons to Get an International MBA Degree

The decision of pursuing an MBA degree is a critical one, requiring a great deal of thinking and planning. An MBA can help boost your career, there’s no doubt about it. But, as a potential MBA candidate you must also evaluate the different MBA programmes, to see which one can provide you with the maximum benefits, in terms of the learning, exposure and opportunities.

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Doing an MBA degree abroad, as opposed to doing it in your own country, can be beneficial in many ways. Here, are a few reasons why your must choose to pursue an international MBA degree:

Exposure to New Culture

The job of a business professional involves interacting with a wide range of people, and building a rapport with clients and co-workers who may belong to other countries and cultures. Doing your MBA overseas automatically trains you on this aspect of the job. By studying and collaborating with a culturally diverse mix of students, you acquire the essential social skills needed to survive and flourish in a global market.

The Opportunity to Learn New Languages

With companies going global and expanding their operations in non-English speaking countries, recruiters are often looking for candidates who are bilingual, and able to fluently communicate in languages other than English. Doing an MBA from business schools located in countries such as France, Germany and Singapore, provides you with an opportunity to be trained in a foreign language, thereby boosting your CV in a big way, and opening up newer job avenues for you in numerous global destinations.

A Competitive Edge

Doing an international MBA degree puts you in a high-pressure environment, where you would be competing with students from diverse nationalities, with a wide range of academic and professional experience. This prepares you well for challenging jobs, and gives you a competitive edge over other MBA grads, who have had a less intensive course at a local business school.

A Wider Professional Network

More than the degree itself, the professional connections you make and the peers and mentors whose support you gain at the business school add more value to your professional career, taking you further ahead in your professional journey. An international MBA would provide you with a wider network, and open up myriad opportunities, that might not be accessible to someone who has done MBA in his/her own country.

Personal Growth

By studying overseas you are not just growing as a professional but also as an individual. Stepping out of your comfort zone, finding your way in a new country, interacting with people belonging to other cultures – these things equip you with the courage, flexibility and open mindedness needed to succeed in your professional and personal life.

The Economist, in its list of the world’s top MBA programmes, ranks the Nanyang Business School in the 66th position and as one of the best business schools in Asia. The affordability of education in Singapore and its cultural diversity are some of the factors that attract students to NBS. For more information on Nanyang business degree, visit http://www.nanyangmba.ntu.edu.sg.

Blog, Cultural Events, Life After MBA, Living in Singapore, The NANYANG MBA

Celebrating Mexican culture – in Singapore

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By Manuel Salgado, Mexican

One of the goals was finally met. After several cultural events that showcased interesting facts about diverse cultures that form the Nanyang MBA, from the tasty Korean BBQ, Chinese full-of-lights Mid-Autumn festival, the very rhythmical Indian Bollywood dance, or the traditional songs of ‘German’ Christmas, it was time for the Mexican MBA students, like me to share a little about our culture.

The excuse was perfect: September 16th 2012, the 202th anniversary of the Mexican Independence Day, is around the corner. With a short time for preparation but the best efforts, myself and Allan Perez (Mexican, Exchange Student from EGADE MBA), organised a party gathering among senior students (graduating batch) and new cohort and also with the Exchange Students. The reception to this party was very good as the slots were full in only a couple of days. For me and Allan, the celebration was indeed the best opportunity not only to show a little about our culture, but also to thank all the support and kindness we have received from our Singaporean and foreign colleagues over all.

More than 40 of us, a very diverse group, attended the fiesta (or feast in English!): Singaporeans, Filipino, French, Chinese, Thai, Japanese, German, American, Spanish, among other nationalities. The first surprise they encountered was the possibility to adopt a Mexican Name.  John Rae Philip (Filipino) and Martin Schmidt (Austrian, Nanyang- St. Gallen Double Masters) helped the visitors pick their name based in the translation or adopt one that they liked. They provided a Certificate of Name Adoption to each of the attendees. For example, Hao Wu (Chinese, Nanyang Essec Double Masters) decided to pick Señor Gabriel, which is the name of one of the archangels that he likes.  Harutaka Ichinoki (Japanese,) chose Don José as it is easy to remember.

After the name adoption, participants indulged in Mexican food and beverages. For beverages, it was possible to try Michelada, a beer cocktail that includes lemon, salt, Maggie sauce and chili. For food, they tried Carne Asada (roasted beef) with Tortilla, a combination more popularly known as Taco in Mexico, the most popular food. They had the possibility to accompany the food with a large selection of salsas, from non-spicy to very spicy, and of course, including in that selection the famous avocado sauce, Guacamole. Our Vegetarian peers had also the chance to try dishes that did not include meat.

Tortilla chips, quesadillas and chicharron (fried pork skins!) were also part of the celebration. Some of our classmates were decisive and willing to help out- Steven Quimby (American) and Jaewon Park (Korean) provided a key support in the grill section and showed their BBQ expertise.

For the event closure, two (2) traditional Piñatas were brought in and those who wish to play this game were blindfolded and asked to hit the Piñata with a stick. The reward, when the Piñata was hit and broken is an avalanche of assorted candies- we had fun as we competed among ourselves to try to get as much as possible. Vida Zhou (Chinese,) and Aditi Jain (Indian,) were the first ones brave enough to try the Piñata. Overall, we have fun during this enjoyable evening- eat, chat and play while celebrating Mexican culture. Viva Mexico!


 

 

 

 

 

 

 

That's me in action.

 

 

 

 

Blog, Life After MBA

Mentorship – How do we begin?

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When we were kids, we look to our parents and to other adults for guidance and help
in the obstacles we face in our little worlds. No matter how much we have since
grown and changed, one aspect of us remains the same – we still seek help and
guidance, and look to those who serve as good examples; as professionals, we seek
mentorship.

We rely on others to teach us what we need to know to get through life because
following the advice of a good mentor can make a floundering career flourish, or even
springboard your career.

Mentors can serve a variety of purposes, they may offer us advice and guidance in
getting ahead in the world, and also give us encouragement and even push us when
we need a gentle shove. They also may simply lend us their ears when we need to
talk with someone.

The best place to look for a mentor, is right in front of you. Look around you
at work. Is there an individual who you admire and respect? Someone who has always impressed you with their insight and preceptiveness? Maybe your boss or your boss’s
boss. Maybe it’s a Vice President in a different division. It could even be the older
individual who isn’t currently a top executive of your firm, but who you know has lots
of experience. The key is to look for someone who shows brilliance in an area in which you would like to develop.

Approach that individual and ask if they would consider being your mentor. Depending
on the individual, and your current relationship, your proposal will vary in the amount
of detail and how it is delivered. At the very least, let them know why you
have selected them and what you hope to learn from the assocation. If appropriate
for the specific individual, you can also discuss amounts of time to be commited on a
regular basis.

When it comes to building a mentoring relationship with someone you already
know, the best first step is to request a meeting or coffee date to ask for advice on a particular issue. Most people – even busy people – will be happy to share their wisdom if you make it easy for them and ask nicely. Don’t jump right into requesting a
commitment to a long-term mentor relationship. Make a great impression at your first
meeting and establish a rapport. Often, the mentor/mentee relationship develops quite naturally from there. It’s usually not necessary to have a formal “Will you be my
mentor?” conversation.

It can be a bit trickier to approach a prominent person that you don’t know
personally. You can start by trying to arrange for an introduction through a mutual
acquaintance. You can also seek out events at which you may run into your future
mentor. Once you’ve made contact, you can move forward to the meeting/coffee
date step.

For those who are bold, the mentor “cold call” approach does work sometimes.
Possible ways in is to introduce yourself in a gracious email that oulines your
admiration for this person, and indicating your interest in learning from him. Request
for a first meeting and from there, establish a relationship.

Most people who take the time to mentor do it because it’s rewarding for them to help and they like the idea of paying forward the wisdom they’ve received from their own
mentors.

The strongest mentorship relationships are reciprocal. Let your mentor know that
you’re available to help and look for ways to give back. That might mean making an
introduction, offering objective opinions or ideas, or providing an excellent restaurant
recommendation. If as a young professional don’t have a lot of connections or
wisdom to share with youe mentor, you can offer your unique perspective from the
entry level of the organization and through the skill sets you already have.

Understand that your mentor’s time is valuable. Set goals for each session and
prepare focused, smart questions. That doesn’t mean you can’t go off on interesting
tangents, but you should plan for each meeting. You want to make every minute with
your mentor count. Your mentor will appreciate the fact that you’ve done your
homework and enjoy the more interesting conversations that will ensue because of
your preparation.

Report back to your mentor regularly on your progress and any breakthroughs or
successes you have garnered after using the advice they have given you. Show them their time with you have been fruitful and you are increasingly getting prepared to
similarly pay it forward to be someone else’s mentor.

Blog, Life After MBA

Will You Take The MBA Oath?

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Author: Cynthea Lam, Marketing Manager

The MBA Oath

The MBA Oath. Hot topic and centre of heated debates. What is your take towards it? Do you think that it is necessary for the change this world badly needs or do you think it is just a meaningless piece of paper? After all, myriad oaths are taken every day and broken just as quickly. What is the significance of another oath, presumably taken by business minds who only have the bottom line to take care of? The creation of the MBA oath began in the spring of 2009, when two MBA students at the Harvard Business School, Max Anderson and Peter Escher, wondered what the future of MBAs should be, and in consideration with the recent spate of world events, if a kind of pledge could be put in place as a guiding philosophy or in a heavier sense, a lifetime vow to set higher standards for business leaders in view of profits, people and planet.

The goals of the MBA oath are to:
1. to make a difference in the lives of the individual students who take the oath,
2. to challenge other classmates to work towards a higher professional standard, whether they sign the oath or not, and
3.to create a public conversation in the press about professionalizing and improving management Like a doctor would take the Hippocratic oath before his practice of medicine, the MBA oath assigns public accountability for the inherent obligations to society of which MBAs as future leaders are bound to. Not everyone would agree, or think an oath like this is necessary to guide his or her actions, but it would certainly allow the MBA to precisely and publicly declare his or her convictions.

We take a look at the MBA oath.
As a business leader I recognize my role in society.
• My purpose is to lead people and manage resources to create value that no single individual can create alone.
• My decisions affect the well-being of individuals inside and outside my enterprise, today and tomorrow. Therefore, I promise that:
• I will manage my enterprise with loyalty and care, and will not advance my personal interests at the expense of my enterprise or society.
• I will understand and uphold, in letter and spirit, the laws and contracts governing my conduct and that of my enterprise.
• I will refrain from corruption, unfair competition, or business practices harmful to society.
• I will protect the human rights and dignity of all people affected by my enterprise, and I will oppose discrimination and exploitation.
• I will protect the right of future generations to advance their standard of living and enjoy a healthy planet.
• I will report the performance and risks of my enterprise accurately and honestly.
• I will invest in developing myself and others, helping the management profession continue to advance and create sustainable and inclusive prosperity.

In exercising my professional duties according to these principles, I recognize that my behavior must set an example of integrity, eliciting trust and esteem from those I serve. I will remain accountable to my peers and to society for my actions and for upholding these standards.

This oath I make freely, and upon my honor. [source: http://mbaoath.org/]

Blog, Life After MBA

It’s not the end, just the beginning!

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Author: Calista N., Sweden

It is with a heavy heart that I write this blog entry. Although we keep telling each other “It’s not the end, it’s just the beginning!”, we all know that the bond and camaraderie is something we will miss the most when we part ways. Inevitably, since we have become like a tightly-knit family for the past year.

As the months and days crept to the end of Trimester 3, I knew for sure this would be a different kind of goodbye. Most of my cohortmates are flying off for their exchange programs, and most of them are also continuing their stints overseas with summer programs, which span until the end of Trimester 4. Thereafter, they would either return to their home countries or like most, continue to scour the world to build their global careers.

We are troopers! T1 done…T2 done…T3 done!

Birds of the same MBA feather!


Here’s representing America, Europe and Asia.


A priceless momento – a memory etched forever

For me, it’s very simple. I came to Asia knowing exactly how I wanted the end of my program would be. I have just secured an internship here in Singapore, with an international consulting firm, and if that turns out well, I will be offered permanent employment with the company.

While gaining some work exposure in Asia, I will also attempt to fulfill my dreams of travelling around Asia. I absolutely love its culture, rich history and learn the different ways of life. And who knows? I may even want to settle down here, get married and have kids raised in an exotic Asian environment!