Blog

You do not learn from failure

December 29, 2015 Laura Melina Loeven

By Laura Melina Loeven, posted on Financial Times MBA blog

Every Monday morning, Professor Gibbons walked into the lecture theatre with a smile on his face. He cheerfully set up his laptop, turned on the beamer and settled to wait for his students to come in. During the first trimester of my MBA, Professor Gibbons beat the Nanyang Business School’s MBA batch of 2016 to show up to class first. Every time.

The very first core course to take on my MBA journey was a compact six-session module with the promising title “Leading People Globally”. Not knowing what to expect from this class, I turned up for the first lecture with a sense of curiosity as well as concern and scepticism.

During my undergraduate studies, courses supposed to enhance students’ soft skills were mostly packed with lectures on social sciences, readings on theories, and discussions of abstract concepts. Reading the syllabus made me fear another episode of dry and fluffy elaborations on how to reach and stay on the top of the food chain. I sincerely hoped that it would be different this time.

Luckily, from the first minute of the lecture my scepticism proved unnecessary. I was thrilled to see the professor fueled with energy, engaging with each and every student. Being Irish, Prof Gibbons had a straightforwardness that left students with no choice but to contemplate his suggestions. A seasoned businessman with intensive experience in people management, he held strong views on what kind of conduct is most effective. Despite provoking passionate arguments, he had the unconditional respect of the class at all times.

The cohort being composed of students from various ethnic and professional backgrounds, controversy and disagreement was unavoidable. During case discussions, we inevitably entered heated debates on conflicts of moral or opposing interests. The lessons learnt on how to resolve those conflicts were deemed priceless.

Before participating in the “Leading People Globally” module, I was confident that I was a rather effective learner and knew exactly in which contexts I develop best. When being asked for an example of exceptional learning success, along with many of my batch mates I would have cited the story of a child who touched the hot stove and only then learnt that it is hot. I learn from experiences, and from making mistakes. Then, one of Professor Pat´s first sentences burst my bubble:

“ You do not learn from failure.”

For a moment, I was confused and impulsively raised my hand to object. But the lecturer went on claiming that

“You learn from your reflection on failure”.

To be frank, as a 24-year old MBA candidate with only a few years of working experience in a well-performing multinational corporation, I have not really come to know what it feels like to miserably fail. I have no experience in dealing with fiascoes, nor do I feel prepared to deal with one.

Even more so, I slowly realised that even in those rare cases where I was unsuccessful in pursuing my goals, or experienced rejection, I have not even fully pondered on the root causes to spare myself the pain of identifying my wrongdoings. However, failing to reflect on failure might be even worse than failing in the first place, and I start to acknowledge the risk of falling prey to the same traps over again.

In the weeks after the class, I began to question how good I really was at developing myself or if the notions “lifelong learning” and “continuous improvement” were nothing more than buzz words.

As the average MBA class seems full of self-declared overachievers, participants might not have had excessive exposure to failure themselves. Certainly, nobody should start to seek failures to artificially accelerate their learning curve, but as responsible business school students we should definitely start truly reflecting not only on big scale mistakes, or the failures of others, but also on careless mistakes and day-to-day flops.

As painful as it sometimes is to unveil personal deficiencies, I am thankful for an eye-opening experience that helped me to acknowledge areas for development. Thankfully, there are two more trimesters left to work on those.

published on: Financial Times – FT.com

http://blogs.ft.com/mba-blog/2015/12/01/you-do-not-learn-from-failure/

Blog, Life at Nanyang, The NANYANG MBA, Travel

Big in Japan: doing business in the Land of the Rising Sun

December 29, 2015 Laura Melina Loeven

By Laura Melina Loeven, Nanyang Business School

At the prospect of spending one week on a business study mission in Tokyo, I felt slightly nervous about offending senior Japanese managers. Being European, the manifold unwritten rules of Japanese business culture were still a mystery to me.

Thankfully, prior to my departure for my first MBA study trip I got to attend a crash course on Japanese business culture and the ‘dos and don´ts’ of socialising, hosted by my fellow Japanese class mates.

For one evening, I was fully drawn into the Japanese lifestyle while enjoying sushi and sake, admiring a traditional Japanese dance, learning bowing ceremonies, practising the correct exchange of business cards and eventually pondering the acquisition of Jim Beam whisky by a Japanese beverage company.

After I learned never to decline an invitation to socialise, I glanced at the tremendous amounts of sake that businessmen consume and quickly became concerned about the bowing ceremonies that I had been introduced to previously. The trip to Japan promised to be exciting.

Thinking about the city life in Tokyo, I dreamed of sky-high office towers, large and flashy advertisement screens and hordes of Hello Kittys. Crowds of business people in black suits, glued to their smartphones, appeared in front of my inner eye.

Yet, finally arriving in Tokyo, the city presented a very different image of itself. While some parts of metropolitan Tokyo felt like travelling back to the 60s, others were truly modern and impressed with trendy, simplistic and cutting-edge architecture. The streets of the hip districts of Shibuya and Shinjuku were indeed glitzy, but did not provoke the sensory overload that I anticipated.

Before heading to Tokyo, my classmates had warned me that most Japanese tend to seek harmony at all cost. Meetings run without friction and most people shy away from challenging authority by whatever means. I expected somewhat dull sessions on non-debatable company facts and figures and was prepared to sit through long, presentations from high-ranked executives.

What I found was the exact opposite. The executives that entertained the challenging questions of this bunch of ambitious MBAs did not fear any confrontation but exhibited great vigor, flexibility and a solid sense of humour in presenting their work. Instead of counting the minutes during dusty standard presentations, I was deeply impressed with the creativity, resoluteness and sincerity of the hosts’ responses to even the trickiest interrogations.

I learnt about the various strategic plans, experienced different company cultures and discussed Japan´s growth plans from every angle during our trip. Never a dull moment on this business study mission!

Five days of back-to-back meetings with 12 Japan-based companies and their highly inspirational leaders allowed me to gain valuable insights into Japanese management styles and to develop a firm understanding for growth strategies and corporate development tactics.

Currently, many Japanese companies find themselves at an inflection point. As a result of “Abenomics”, structural and fiscal reforms introduced by prime minster Abe, the nominal GDP has grown by 2.2 per cent over the past year, the highest growth in 17 years. How well an organisation responds to the challenges that arise in periods of change will determine the share of the overall national growth that the company can enjoy in the future.

The most common issue pinpointed by all presenters, an aging society as well as an overall decreasing population, will significantly impact Japan´s competitiveness in global markets in the long run. Further, many Japanese do not have a professional command of English so that their employers are often confronted with major obstacles when doing business with overseas partners.

The programmes introduced to improve the command of English are a necessary investment to make Japanese firms more attractive for foreign investment as it will eventually facilitate collaboration across borders.

I was delighted to learn that Japanese companies attach ever more importance on people development and increasingly focus on hiring international talent. Many of the companies who hosted Q&A sessions with my MBA class emphasised that they experienced radical progress by selectively incentivising employees and revising their HR policies. Offering flexible work style solutions to attract more women to the corporate world, providing training and international exchange programmes as well as shaping an overall growth mindset, has proven effective to nurture business success.

All the leaders who welcomed me and my classmates to their office agreed in saying that heavy investments in research and development programmes are crucial to compete on an international scale. While attentively monitoring innovation cycles, the firms aim to stay on top of market trends and best tailor products to customer needs.

With limited talent pools and only little entrepreneurial spirit in their own country, Japanese businesses focus on expanding through investments beyond the saturated Japanese market by asset purchases, joint ventures and mergers and acquisitions.

Nikkei Inc., publisher of the largest Japanese financial newspaper, has recently announced the acquisition of the Financial Times to strengthen its global and digital growth profile. Suntory, a Japanese beverage distribution company group, has taken over the American whiskey brand Jim Beam to enhance its footprint beyond Japanese markets.

Even though Japan was not on my list of most intriguing business environments, the insights gained from the visits to companies have definitely put Japanese businesses on my radar as future employers.

published on: Financial Times – FT. com

http://blogs.ft.com/mba-blog/2015/11/18/big-in-japan-doing-business-in-the-land-of-the-rising-sun/

Campus Living, Clubs, Cultural Events, Happenings, Life at Nanyang, Living in Singapore

Student Life At NBS

December 18, 2015 hmteam

The MBA programme at the Nanyang Business School is rigorous. Academics are just one of your many priorities here. Classes, case studies, team projects and homework are just one part of the whole experience because the B-school aims to create future leaders who’ll maintain a work-life balance successfully. During your time here, you’ll have ample options for housing, social activities and business competitions.

Here’s how you can step into the vibrant student life at NBS.

Residential Life:

On-campus housing is available only to full-time graduate students. Graduate Hall 1, Graduate Hall 2, Crescent Hall & Pioneer Hall offer rooms with a single bed, a wardrobe, a desk, an attached bathroom, fan, air-conditioning and an internet connection. Keep your eyes on the notice boards in case something opens up later. If you’re looking for accommodation off-campus, take a look at the Off-Campus Accommodation System (OCAS), which is open to students registered with NTU. The best route to take would be to book an on campus option, settle down and then look for a place off campus with less stress.

Student Executive Council and Club Co-chairs:

The Nanyang MBA Student Executive Council or Student ExCo takes on the responsibility of making every student’s time at NBS a lively one. The MBA students hold annual elections to elect its council members. Candidates are usually given a minute to make a speech that can let the others decide if they’re worth their votes. So that’s a position you may want to vie for as well. Student clubs on campus include those focused on particular industries, sports and cultures. Meet the current council members here.

Healthy Well-being & Philanthropic Activities:

A healthy mind and body are vital to performing well in your MBA programme. If you don’t feel good inside, your work will be affected. But, with so much going on campus, you will find yourself exercising, meeting people and getting lots of fresh air too! In the past, events have included a prison run, kayaking on a nearby island and other outdoor sports that bring you closer to your classmates as well. And since life can’t be complete without doing your bit for the less privileged, the student council organises charitable activities like trips to children’s homes and hospitals.

MBA Olympics:

The MBA Olympics is a volunteer interscholastic sporting event that NBS participates in every year along with Singapore’s other B-schools. It is a friendly competition that aims to raise awareness for a specific cause and collects donations for charity by promotion corporate social responsibility in business. You’ll get to play badminton, basketball and other sports and make a difference in some people’s lives. Sounds interesting? Take a look here.

Business Case Competitions:

What you learn in the classroom needs to be applied outside of it. NBS’ MBA students are regular participants in international business case competitions where they compete against students from B-schools based in the United States, Canada, Germany and so on. These events are a great place to see how academic concepts work in the industry while you interact with fellow MBA candidates who can add to your global perspective of the way things are done in business. In 2015, Nanyang MBA also hosted several case competitions such as Venture Capital Investment Competition (VCIC) and Amalgamation 2015.

So you can stay comfortable, safe and active. The Nanyang MBA office works in collaboration with the Student ExCo to ensure that every MBA student walks home with a degree and lots of valuable experiences that add up to make a journey full of learning.

Career, Life at Nanyang, The NANYANG MBA, Useful Tools and Tips

Art of Negotiation

December 17, 2015 hmteam

One of the vital skills that your MBA programme will teach you is the art of negotiation. Every conversation you’ll have in the business world involves negotiation to some degree. Being good at it requires discipline, strategic thinking and emotional intelligence. Every negotiation has its own context and will require something different from you.

Here’s how you can approach the process.

Do Your Homework:

Research is important. Once you know whom you’ll be meeting, find out all you can about the people and situation that you’ll be discussing. How has the other party handled things in the past? What kind of work have they been doing and what do they like? Know all the possible issues that could come up before you head to the meeting. Have the offers and counter offers ready in your head too. Sometimes it helps to write it all out as a script. This way, you won’t fumble for words whatever happens.

Build Relationships:

You could have everything there in your hands in a spreadsheet or on the slides you’ll be presenting, but negotiations are about making deals with people. If you want to seal a deal, you need to earn the other party’s trust. In fact, research says that they’ll be more influenced by you if they like you. This means that you have to look at building a bond and not just the money you can gain. Let them know that you’ll be working with them as a team – not as isolated entities. Don’t expect to agree on everything but don’t work too hard to find common ground too since differences can result in more value creation as you trade them. Who knows? Maybe you can give them a lot more than you’d thought they’d needed.

Listen Well:

Negotiation is not a one-sided activity. You need to be able to hold a conversation where lots of information is exchanged. Find out about the other side’s needs. Ask open-ended questions so you get more information to work with when you are using your strategy. Connect what they say to you in the meeting with what you know about them. You should be able to understand their needs and preferences that way.

Focus on Timing:

Saying the right thing at the right time can get you your deal. Similarly, saying the wrong thing at the wrong time or any time at all can ruin things for you. So leave out some questions that aren’t really needed and don’t go overboard with the selling when you should stop. Claim your value early in the conversation so that they know what you can give them best. Never say yes too fast. And when things get heated, take a break.

Be Ethical:

Ethics is a major subject covered in top MBA programmes like the one at NBS. Being ethical is a must if you want to have a good reputation in the industry. Don’t go back on promises. Be fair and involve the right people from your office and know about the best practices in your field. Once you take a decision on your side, explain the reasons.

Coursework at your B-school will involve role-playing in cases that resemble ones that you will confront in the real world. That will enable you to try out your negotiation skills under the eyes of experts who can tell you where you’re going wrong. Lots of practice will show you the way to form relationships and bring success to your organisation.

Blog, Career, Useful Tools and Tips

Tips for Crisis Management

December 16, 2015 hmteam

Any emergency situation that affects employees, creates insecurity in an organisation and damages the public trust in an organisation is considered a crisis. Accidents, financial difficulties, misrepresentation and whistle blowing are common examples of situations that can lead to a crisis in an organisation. The management of an organisation requires specific communication skills that can help the organisation deal with worried stakeholders, customers, suppliers, investors, partners and employees.

Unfortunately, there is no way to predict when a major disaster will hit you, but here’s how you can be prepared.

Delineate Roles:

Everyone in your company needs to know what their role is and what is expected from them. Once this is clear, you have the right logistical support in case problems arise. Even the person who answers phone calls should know what to say. Remember that when there is a crisis, everybody in the organisation will be approached for their inputs on it. Neighbours, media and social media – they’ll all want to know the details and people do not hesitate to add their own perceptions to it all, which can make things messier. When crisis hits, you’ll have to communicate with your stakeholders and other relevant people as soon as you get a hint of trouble. If outsiders like media persons reach them before you, you have not managed your crisis well.

Keep Resources Handy:

Company information is vital for key stakeholders, so you need to enable easy access to it and keep backups at a site that is not a part of your office. Say there’s a natural disaster or your premises are locked down for legal reasons, you cannot say information is unavailable. In fact, consider having a meeting place in a different location where you can use equipment you may need in the event of an emergency. For instance, a publication may have a place to print their paper when their office is out of bounds.

Hire a Specialist:

Many companies hire a crisis communications manager or consultant to take charge of things when they need to. This is a professional who knows how to stay calm and think strategically even when everybody else is having trouble coping. Help with media relations and external and internal communications material such as letters explaining the crisis and detailing what steps are being taken and how employees will be affected, is provided by him/her.

Learn Special Interview Skills:

As a manager, you’ll be facing the camera with the industry and country wanting to know what’s happening to your company. It’s easy to break down in public or get into an angry brawl with people who are rude and inquisitive, but you can’t afford to do that. Invest in training from a coach who can teach you about the correct body language and verbal communication skills that you’ll need in order to have an interview that doesn’t make things worse.

Conduct a Test:

Smart managers like to practice crisis management by organising regular crisis simulations to test and improve their plans. It also works as a way to keep staff alert because people rarely think that crisis will hit home. Let each individual know what could happen and give them the opportunity to give inputs on how they think they could help. Feedback contributes to better preparation for the future. Try out all possible conditions so that you have a solid plan at the end.

Crisis starts with shock and leads to confusion. Then it drives you towards an intense search for solutions. That’s normal behaviour. You can use your newly acquired B-school skills and exposure to keep your focus on how the public hears about the situation and of course, don’t leave anybody in the company in the dark. A good leader is a great communicator.

Career, Life After MBA, Networking

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

December 15, 2015 Laura Melina Loeven

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 5^th 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.

MBA Student Michael Hold at the Q&A session

Mr Lian addressing NBS graduate students

Campus Living, Clubs, Cultural Events, Life at Nanyang

Merry Christmas – Santa Claus at NBS

December 14, 2015 Laura Melina Loeven

„Have yourself a merry little Christmas, let your heart be light. From now on, our troubles will be out of sight!“

On the last weekend of the year, the NTU MBA batch of 2016 came together for an early Christmas party. Midway through the second trimester and with the upcoming winter break approaching, everyone was excited to not only celebrate the birth of baby Jesus according to Christian tradition, but also a successful first half of the MBA.

The Social and Culture Club jointly with the Beer, Wine and Liqueur Appreciation Club had invited for an end-of-year Christmas party and put in a lot of effort to make the event as authentic as possible by setting up a Christmas tree, playing modern arrangements of traditional Christmas songs and ordering an abundance of mouth-watering food, including traditional festive dishes such as stuffed turkey and gingerbread cookies.

The long queue at the buffet speaks volumes about the exquisite taste of food on the buffet, which was washed down with hot mulled wine and chocolate mousse. „I have never had hot wine before. I don´t know why, because it is so delicious“, said one of the participants who celebrated their first ever Christmas party.

Having fed the crowd, Santa fulfilled its duty and distributed the presents that the many „Secret Santas“ had placed under the beautifully decorated Christmas tree. The newly elected Santa Clause, Yuji-San(ta), did an excellent job in helping everyone finding their gifts, and his voice even over drowned out the rustling of wrapping papers as the presentees unwrapped their tokens. The many voices yelling „Merry Christmas“, asking „Who is my Secret Santa?“ and even more „Thank you´s“ were perfect evidence that giving gifts, as small as they may be, truly spreads happiness.

The wave of excitement over identifying everyone´s Secret Santa only came to an end when the organiser crew called for a final activity of the evening: a gingerbread house competition.

The crowd split up in three groups to build houses of gingerbread cookies, which were judged by its stability and the creativity of its decoration. During the next thirty minutes, the teams were busy mixing sugar paste and stacking cookies in the most efficient way. What a tricky task!

The winners clearly stood out of the masses: only one of the three house stood against all shaking test, and even resisted the crash tests carried out by competitors. „This was certainly more difficult than it looked“, the struggling teams claimed while removing remains of powdered sugar from their hands.

While the looks of the edible houses differed, all participants left an equally delicate mess of sugar paste, gummi bears and jellybeans. Still, nobody minded cleaning up the sugar-covered event venue, as Christmas really is all about sharing the joy and moving troubles out of sight. Might as well cover them in sugar.

The MBA batch of 2016 at their Christmas Party on December 12, 2015

Blog, Life at Nanyang, NANYANG-WASEDA

Boost Your Career with a Double MBA & Masters Degree

December 10, 2015 hmteam

Studying for your MBA at the Nanyang Business School can be extra enriching if you opt for the double MBA or masters degree programme. Instead of graduating with one degree, you can earn two. NBS has partnerships with top business schools in Europe and Asia to provide MBA candidates the best of different worlds.

Here’s a bit about the programmes.

The Nanyang MBA + Master of Arts in Strategy and International Management

The University of St. Gallen is a leading B-school in Switzerland. It was founded in 1898 and is known for its strong culture that invites students from all over the world. NBS chose this school because the Master of Arts in Strategy and International Management (SIM) programme has made a significant impact across the globe. With a top-notch curriculum that compels students to develop superior strategic thinking, the SIM programme has been ranked number 1 overall worldwide for a record of four years (2011 to 2015) by the Financial Times. And although it is one of the smallest universities in Switzerland, the University of St. Gallen has the country’s largest faculty for business administration. The location works out for your best interests as you get exposure to European business practices and culture. Read more.

The Nanyang MBA + One more MBA from Asia

When you think of Japan, you think of innovation in terms of electronic goods, cars and other consumer goods. This programme, a partnership between the Nanyang Business School and Waseda Business School in Japan, brings you to the centre of this innovative environment. The Waseda Business School was established in the 1990s but is a part of the century-old Waseda University in Tokyo. Besides earning two MBA degrees, you’ll become a part of two major alumni networks that consist of various business leaders. The Waseda side of the programme will amplify your knowledge of this region while enhancing your capabilities in leveraging innovation, based on the best practices of eminent and successful Japanese corporations. Read more.

The Nanyang MBA + Masters in Management

The masters in management degree has been much debated in the educational sphere. There is a lot in its favour because experts like the idea of a general management degree that can prepare candidates for a variety of management roles once they graduate. In contrast, the MBA degree may be too specific once you decide what to specialise in. NBS’ double masters programme of study with ESSEC in France bridges the gap between the two. Additionally, ESSEC’s innovative approach to management that combines the uniqueness of European ways with inter-cultural approaches is a boon for students who are keen on learning about doing business in Europe or with European companies. Read more.

Investing in a double degree programme will reveal its benefits when you apply for your next job since prospective employers will always appreciate a candidate with competencies in multiple areas. As you learn more than your peers who choose to study for a single MBA degree, you’ll be sure to impress interviewers who will know that studying for a double degree means that you are willing to work very hard and are open to a whole new range of experiences.

Find out if an NBS double degree programme can be a part of your career plan today!

Campus Living, Life at Nanyang, Useful Tools and Tips

5 Student Friendly Places to Grab a Bite in NBS

December 7, 2015 hmteam

Student life is all about balancing work and play. When you aren’t studying or busy with club activities, it’s always fun to sit in a coffee shop with your friends or even for some quality alone time. NBS students are spoiled for choice with their options of hanging out zones. The campus recreation facilities include several coffee shops and eateries.

Here are 5 student-friendly cafes that you’ll love.

Pitchstop: This café is known for its delicious wood-fired pizzas that come with every possible topping you could ask for. And you get to choose between indoor and outdoor seating areas. If you decide to go for the alfresco seating to enjoy the sunshine or scenery, you’ll find large tables that are great for big groups of friends sharing a meal and conversation at the café.
The Coffee Bean and Tea Leaf: Located across the Nanyang Auditorium, this coffee shop is no stranger to you. There are outlets across Singapore, but this one holds a special place in the lives of NBS students. It is a favourite for a great studying environment with a cosy feel. While the coffee shop chain introduces new items to the menu on a regular basis, it also encourages students to spend as much time as they want to, sipping coffee and getting work done.
Spruce Bistro: Housed in the Wee Kim Wee School of Communication and Information, this coffee shop has lots of pocket-friendly options. For example, in one particular month, students could opt for a tea or coffee combo with cupcake or cookie at just 5 dollars. And there are often bar combos including beer or wine and a snack. If you keep your eyes on their Facebook page, you won’t miss a thing. Don’t forget to sample the nacho chips with their signature salsa.
Art Pastry: Conveniently located in the School of Art, Design and Media (ADM), this weekday coffee shop is popular with both vegetarians and non-vegetarians. If you aren’t looking to satisfy your sweet tooth with a pastry, you’ll find healthy, light meals throughout the day. Be sure to try their bento boxes and cookies.
Co-Op Café @ The Hive: This is the perfect destination for a leisurely meal on your own or with friends. So if you’re looking for an extensive menu and a place to hang out, head on over. The menu has everything from western to Asian fare including fusion food like Tom Yum Pasta. Plus, Toby’s Estate coffee is available here. What more could you want?

Remember that the campus life will be a big part of your MBA experience. And most NBS students end up having a favourite coffee shop. They spend lots of time there during the MBA programme and sometimes even return for a visit when they are in town after graduation.

So here’s wishing you happy times on the campus!

Career, Life After MBA, Useful Tools and Tips

5 Tips To Get You Geared Up For Your Sales Meeting

December 4, 2015 hmteam

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.

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

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.
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.
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.
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.
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.

The NANYANG MBA Blog

Monthly Archives: December 2015