Wednesday, August 25, 2010

How to choose a school

Before diving into the decision-making process, it is worth taking time to consider whether you have the makings of a masters in management student.
Typically in Europe, where the degree is popular, no work experience is required to enter the programme. As a consequence, students tend to be younger than those who complete MBAs or other programmes where professional knowledge is a prerequisite.

According to FT data, students are, on average, aged between 22 and 23 when they start a masters in management programme.

Christina Olabarría, admissions director for the masters programme at Esade Business School, Barcelona, says: “Most choose to do a masters with a view to differentiating themselves from other candidates applying for graduate recruitment schemes and management training tracks.”

Unless you have an unusually clear idea of your ambitions, choosing your ideal school often initially comes down to location.

“Most students make a geographic choice first, then look at schools within a particular country or region,” says Judith Bouvard, dean of Grenoble Graduate School of Business.

According to Valérie Gauthier, associate dean at HEC Paris, the key question to ask is: where do you want to work after graduating?

If the answer is France, you might apply to HEC; if you want to work in London, then the LSE (London School of Economics and Political Science) or LBS (London Business School) would be among the obvious choices.

Since relatively few US schools offer the masters in management qualification, would-be applicants from America might want to consider Europe, where the programmes are more a part of the business school landscape.

Internships – whether during the course or upon graduation – are most likely to open up job opportunities in the country of study. Studying abroad therefore offers the chance of early international experience, while studying in a location where a particular industry is clustered – finance, for example, in London – enhances your chances of getting a job in a target sector.

Given how hard business schools work to protect and enhance their brands, finding a school with a good reputation is critical. Some are known for quality across the board, others for strength in a particular sector, or for the warmth of their welcome for overseas students. Rankings tables are crucial in providing information for students to judge what’s best for them.

“Reputation is everything for business schools,” says François Collin, executive director of Cems’ head office.

“It nurtures the virtuous circle that enables schools to attract and recruit the top professors, the best students and the influencing corporate partners.”

It will come as no surprise then, that the reputation of a school or programme will go a long way in affecting how you are viewed by potential employers.

Serious schools are also branded for the quality of their courses by accreditation bodies such as the AACSB (Association to Advance Collegiate Schools of Business) in the US, the EFMD (European Foundation for Management Development), and Ceeman (the Central and East European Management Development Association).

And although the top ranked schools are likely to be the best resourced, they are also more likely to be oversubscribed, and are often the most expensive.

As such, it is important to be realistic about what you apply to do. How good are your credentials? Is there an alternative that is more suitable? Might you do better to become a graduate trainee, gain experience and study for an MBA at a later date?

However, if you are unable to secure your first choice, all is not lost. “If you can’t get into a top school, look for those on the up and ride the wave of success,” says Ulrich Hommel, an associate director at the EFMD.

Most masters in management programmes include some form of work-related experience, from supervised research projects within a business environment to an internship. “A good programme will mix academic rigour with corporate relevance,” says Prof Hommel.

Therefore, potential students should seek as much information as possible about any corporate partners affiliated with different schools ­– not just whether an internship is available, but with whom and in which sectors. Another consideration is which companies hire alumni from the school. “Admissions officers are a good source of information, but ask to speak to alumni and current students too,” Prof Hommel advises. They have a good insight into what it is like to study a particular programme and are in the best position to point out any pitfalls.

Depending on where you see your career taking you, it is worth researching the international dimensions of a school. Find out what proportion of faculty and students is from overseas – diversity is likely to bring a wider range of perspectives to a programme. Dual degree programmes, where participants spend time in two institutions in different countries and are awarded a degree from both, are a popular way of gaining international exposure.

Consider, too, how the programme is delivered. Those keen to avoid traditional “chalk and talk” methods should look for new learning techniques incorporated into the programme. The use of interactive technology and action learning, such as trading room floor simulations and role plays, are good indicators of an innovative programme.

Once you’ve discovered all you can, then pay the school a visit.

“Talk to the current students, talk to the administrators, talk to the faculty,”’ suggests Susan Roth, director of MSc programmes at Cass Business School at City University, London. “Do you get a buzz walking through the door and feel it’s where you want to be?” When all other parts of the decision-making process have been worked through, trust your instincts.

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Sun, sea and school

At Ceram business school, located inside the Sophia Antipolis technology park close to the Mediterranean resort of Antibes, the aromatic smell of pine trees and the chirrup of crickets make for a pleasant backdrop to the school, which celebrates its 44th birthday this year.
Yet the school has more than just its birthday to celebrate. Ceram recently announced a merger with ESC Lille, another of France’s grandes écoles, in a move that will create the largest business school in the country. With more than 5,000 students, it is hoped the merged – and as-yet unnamed – school will compete with high-profile international rivals.

Current Ceram director, Alice Guilhon, who has also been appointed head of the merged institution, wants to create a business school for the knowledge economy, focusing on globalisation, innovation and technology. “The merger does not change the strategy in any way,” she says.

Ceram’s Sophia Antipolis home has been donated to the school by the French Riviera Chamber of Commerce. The combined school will also have campuses in Lille and Paris, where the MBA programme will be based, and Suzhou in China. Another campus is planned for the US.

Its location inside one of Europe’s leading science and technology parks helps underpin Ceram’s partnership with the Department for Research on Innovation and Competition (DRIC), part of the OFCE, one of France’s leading economic research organisations.

Ceram and DRIC will soon offer an MSc and a PhD programme in applied economics. “It is a huge opportunity to connect two disciplines in economics and business,” says Jean-Luc Gaffard, director of DRIC and professor of economics at nearby University of Nice Sophia Antipolis.

The combined school will offer a range of bachelors and masters programmes and a modular MBA. A second MBA programme, focusing on the knowledge economy, will be developed within the coming year. Prof Guilhon believes this “can become a flagship programme for the school in the future”.

The only major change Prof Guilhon envisages is the merger of the masters in management, the flagship programme of most French business schools. The plan is for the merged Lille and Ceram programme to be taught in English at both Sophia Antipolis and Lille.

Other French business schools will be watching their progress with interest.


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Soon after I arrived at the Thunderbird School of Global Management five years ago, a group of faculty members, students and alumni were asked to identify two personalities who best represented the core values of the school.

Their choice of Richard Branson, the British entrepreneur, seemed logical, but the other name came as a surprise: the Dalai Lama.
The billionaire, yes, but the Buddhist monk? What could the Dalai Lama have to say about business and management? A few months later, when the man himself paid us a visit, I finally understood.

Speaking to us, the Dalai Lama stressed the importance of individual responsibility in an interconnected world and his belief that many of today’s problems are man-made.

He explained: “Our minds still think in terms of ‘we’ and ‘they’, but in reality, there is no such thing. The world is one body. We must recognise that the ‘others’ are also part of humanity, and that my future depends on your future. We may find some comfort in the notion of independence, but in reality we are all interdependent.”

If correct, how should this interpretation affect the way we should act towards each other? With compassion, says the Dalai Lama.

Genuine compassion is the recognition that others have the same rights, even those who are different and hold conflicting views, he told us.

“Love and compassion should extend beyond a person’s small circle of friends and relatives to include others who may think, look or act differently to us,” he explained.

His words chimed with a quote from the philosopher Socrates, inscribed on the gate of the Arizona campus at Thunderbird: “I am not an Athenian or a Greek, but a citizen of the world.”

The Dalai Lama may not be the first name to come to mind as a management guru, yet his teachings could not be more meaningful in trying to understand the responsibilities of business leaders in the global economy.

In his speech, he described two basic principles of Buddhism: the first, a philosophical outlook that recognises the interdependence of all things; the second, a value system based around the notion of compassion, the requirement to cause no harm to others.

These two ideas are interconnected. If I believe my wellbeing depends on yours, then your pain becomes mine, and it becomes my self-interest to care about yours.

Such a philosophy can also be used to define global citizenship in a business context: an outlook that recognises the prosperity of one individual, company or nation depends on the prosperity of others.

A global citizen will work to create value for all parties involved in a business transaction, rather than seeking to exploit one party for short-term gain. For example, he or she cannot accept harmful labour practices in one country for the reason that it benefits customers or shareholders in another.

The notion of “sustainability”, meanwhile – financial, social and environmental – is a recognition that one’s success is tied to that of others, and that one’s business strategy must respond to the interests of multiple stakeholders.

Successful business leaders understand that treating others with dignity and helping them succeed is imperative if they themselves want to succeed over the long term. They do not win by playing one supplier off against another, or by selling products that are harmful to their clients.

They win by innovating, serving and creating. They treat employees, customers, suppliers and investors as partners, not enemies. They change the world by creating products, jobs and returns for investors. They give back to their communities. In the process, they find financial security for themselves and the satisfaction of having made a meaningful contribution.

During his visit, the Dalai Lama shared the story of a prominent Indian businessman who asked for his blessing. “Your blessing is not here,” the Dalai Lama told him. “Go back and invest in your community — create a school to bring about opportunities to all those who have been left behind. That will be your life’s blessing.”

Angel Cabrera is president of the Thunderbird School of Global Management
.Copyright The Financial Times Limited 2010. You may share using our article

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Friday, August 20, 2010

GMAT Problem Solving

Introduction
GMAT problem solving questions are designed more to test your understanding of underlying mathematical concepts than to test your ability to actually carry out quantitative procedures accurately.

Fortunately for many test takers, advanced quantitative topics, such as trigonometry and calculus, are not tested on the GMAT. To score well, you only need to be familiar with basic arithmetic, geometry, and algebra, as taught at the high school level. Any decent GMAT prep book will cover these quantitative concepts.

Problem Solving Tips and Strategies
Read the questions carefully. It is impossible to overstate the importance of careful reading. The most common pitfall GMAT test takers stumble into is answering the question they thought they read, instead of the one the test asked. There is a big difference between a question asking "Which of the following may be true?" and one asking "Which of the following may not be true?" The test writers deliberately include answer choices that correlate to common misinterpretations of the questions.

Use your scrap paper for every question. No matter how easy a question appears, you should utilize your scrap paper. Seeing a calculation on paper will help you avoid easy mistakes and the answer choices designed to exploit them. Remember, once you record your answer on the GMAT CAT, you can't go back and change it. This aspect of the CAT makes this tip even more effective.

Do not get bogged down with complicated or lengthy calculations. We have looked at hundreds of GMAT problem solving questions and found that they are deliberately designed to make such calculations unnecessary. You are overlooking a shortcut if you find yourself getting bogged down in this way.

The "guesstimating" technique is extremely effective on this exam. Most of the time, the answer to a problem-solving question is a value, and the values given in the answer choices will not be very close to each other. As a result, you can save time by 'guesstimating.' For example, if you know the value you're looking for is about 30%, and the answer choices are 4%, 13%, 29%, 47%, and 81%, you can safely guess that the correct answer is 29%. Congratulations – you just saved yourself a lot of time on this question, and avoided getting caught up in a longer calculation that might have resulted in a math error!

Learn how to work backwards. If you are completely stuck on a question, you can always try plugging in an answer choice and work backwards to see if it makes sense. When you use this technique, we suggest starting with the choice giving the middle value. Even if the middle value does not answer the question, it might tell you if you need to go higher or lower. You will have narrowed 5 choices down to 2.

Convert quantities freely. There are often shortcuts available to you if you can recognize relationships between the numbers used in the problems. Keep in mind, the GMAT test writers never haphazardly select numbers for their questions. This technique is especially useful in narrowing down likely answer choices when you feel the urge to pull out a calculator. One easy conversion to remember is that, at least for purposes of the GMAT, π = 22/7.

Use process of elimination as a last resort. The GMAT writers have historically arranged answer choices in ascending numerical value. Even if you are unable to immediately hone in on the correct answer, chances are that guesstimating, working backwards, or some other technique will help you eliminate many wrong choices.

Practice, practice, practice. When you spend time practicing quantitative questions, you internalize these tips and strategies. You will also become very comfortable with the type of questions found on this portion of the test, and will quickly realize whether you need to brush up your skills in any math areas, such as geometry or algebra. After all, when it comes time to sit for the GMAT, you will want to be able to recall certain information – the total number of degrees in the sides of a triangle, the calculation for the area of a circle, etc – off the top of your head.

Problem-Specific Tips and Techniques
There are several distinct types of quantitative problems, each of which can be approached with specific tips and strategies:

Geometry Problems

Assume diagrams are drawn accurately unless the question specifically states otherwise. Do not, however, rely on your visual judgment to answer these questions. The test writers never allow their questions to be that easily answered. One common mistake is to assume that 2 lines must form a right angle, when this is not specifically indicated in the text. Do not fall into this trap – it is one of the most common mistakes made on the GMAT.

Spend at least 30 seconds reviewing the diagrams. Many implicit facts and numbers can be found inside these illustrations. Due to the computer-adaptive nature of today's GMAT, you will need to sketch out the diagrams on your scrap paper to deduce the implicit facts from the data explicitly given.

Graph Problems

Spend at least 30 seconds reviewing the graphs and tables. Graph problems are not meant to require hard math calculations. Instead, they are designed to test your ability to interpret and use information contained in graphs and tables. As a result, you will be well served by closely studying the structure and basic content of the graphs and tables. The axis labels, legend key, and units of measurement are more important to you in understanding and answering the question than the actual data presented.

Make sure you are familiar with bar, circle, and line graphs. These are the 3 graph types most commonly presented on the GMAT.

You can rely on visual estimates for bar graphs and line charts. The test writers will not use visual tricks to deceive you. In fact, you will often times have to trust a visual estimation to determine the correct answer. Note: Visual estimates will not work with geometry questions.

"Weird" Problems

Identification is half the battle. Train yourself to recognize when you're dealing with a "weird" problem, and deal with it accordingly. AdmissionsConsultants defines "weird" as problems that simply test your reasoning skills, not your quantitative skills. These questions are widely considered the most intimidating on the entire exam.

An excellent example of this genre of question is a problem that presents a function you never learned in school. You will greatly improve your odds of answering it correctly by calmly and methodically imitating the "logic" presented in the question. If this fails, you can always work backwards to solve the problem.

Word Problems

Build equations for word problems. When dealing with a word question (such as what happens if trains are traveling at a certain speed), build an equation that will help you understand the question being asked and find the answer. Use obvious letter symbols such a "A" for train A, "B" for Bob's age, etc., to stand for the values you need to calculate.

Don't waste time looking for subtle meanings. You can make reasonable assumptions with these questions. The test writers are not trying to trick you in this way.


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GMAT Test Preparation Tips

You Can Easily Increase Your GMAT CAT Score by 50 to 100 Points
Despite the official statements of GMAC (Graduate Management Admission Council), you can improve your GMAT score dramatically simply by taking the time to become "streetwise" about the GMAT CAT. Quite simply, this is the easiest step in your test preparation, and should not be ignored under any circumstances.

Keep in mind that the GMAT is a game. Just as in chess, baseball, tennis, or any other sport, those who know how the game is played have a huge advantage over those who are ignorant of the game's idiosyncratic rules.

As a test taker, you should understand:

The computer-adaptive structure of the GMAT
The types of exam questions asked and their common fallacies
How to manage your time wisely
The computer-adaptive structure of the GMAT

The computer-adaptive test (CAT) version of the GMAT is designed to get a more accurate assessment of your skills while asking you fewer questions than its paper-based predecessor did. Here is how it works: the first question you see in any given section will be of average difficulty. If you get the answer right, your next question will be slightly more difficult. If you get the answer wrong, your next question will be slightly easier. The software will also ask you different types of questions in a rather unpredictable order, as determined by its algorithm, rather than clustering question types as the written GMAT did.

You can not skip a question or go back to an earlier question. Unlike the paper version, once you click the 'answer confirm' box, your answer can not be changed.

The types of exam questions asked and their common fallacies

Examples and explanations of these can be found in the pages describing the individual component sections of the GMAT posted on this website. We strongly encourage our clients to spend time learning these question types before brushing up on their verbal and math skills.

How to manage your time wisely

Practice

The main way to develop GMAT time management skills is to practice taking the test. You will repeatedly see us return to the theme of practice throughout this website. It is very hard to overstate its importance. Therefore you are strongly encouraged to take at least a few mock GMAT exams, in the computer-adaptive format and to try to simulate the actual testing environment. (That means refraining from taking food breaks, engaging in telephone conversations, etc. until you have completed a section.)

Spend adequate time on the first 5 questions

Earlier, we discussed how the GMAT CAT's underlying algorithm determines the difficulty of questions you are asked, based on your performance in answering previous questions. Difficult questions are weighted more heavily in scoring than easier questions. The first couple questions in any GMAT CAT section are used to determine the range of questions that the program 'thinks' you are able to handle. After you have answered these first few questions, the testing software will give you questions to fine tune your score within that rather narrowly predetermined range. Thus, your answers to the first 5 questions will make a HUGE difference in your final section score.

It is imperative that you answer these pivotal questions with extra care. Always double check your answers to these questions. Verify that the answer choices that you judged to be incorrect are indeed incorrect. If you are unsure of the answer to one of these first questions, at the very least, take a very good educated guess using process of elimination.

Prepare yourself to finish the test – at all costs!

There is a huge scoring penalty for failing to finish any section of the GMAT. For example, say you're in line to get a score that will put you in the 70 percentile of test takers, based on your test performance so far – but then run out of time and fail to answer the last five questions in the section. That failure will lower your score to about the 55 percentile. The lesson to take away from this is to prepare yourself to finish the test at all costs. Answering a question incorrectly will hurt you, but not as much as leaving the question unanswered will. Train yourself to work your best within the time limits of the exam. But train yourself, too, to be able to recognize when only a minute or so remains on the clock, and at that point to just answer "C" (or whatever your lucky letter is) for any remaining questions. As the GMAT's Chief Psychometrician put it to us, random guessing is like shooting yourself in the foot – but leaving answers blank is like shooting yourself in both feet.

Don't waste time

This advice probably sounds self evident. However, we mention it because we've had clients tell us how they inadvertently wasted test time by revisiting the help screen or requesting extra scrap paper after they began their test. These activities, if undertaken once the section has begun, will take time away from working on the questions.

Read the Questions Carefully
As silly as this advice may seem, it's worth remembering. An undisciplined test taker will feel the stress of the clock during the timed sections and will try to cut corners to save time, wherever and whenever possible. As a result, he or she often misinterprets questions. GMAT test writers are well aware of this dynamic, and happy to capitalize on it. We guarantee that you will encounter questions on the GMAT that include incorrect answer choices that were deliberately designed to exploit likely misinterpretations of what the question is really asking.

Avoid Random Guessing
The GMAT CAT does not allow you to skip questions and come back to them later, as you can on a written test. You must answer each question on the GMAT CAT before it will allow you to move on to the next question. Consequently, even if you don't know the answer to a particular question, you have to answer it. It is always in your best interest to take an educated guess rather than resorting to random guessing – even if you are running out of time on the section. Usually you will be able to identify at least one answer choice that is clearly wrong. Eliminating even one incorrect choice will improve your odds of answering the question correctly.

Eliminate the Deliberately Deceptive Wrong Choices
With practice, you will begin to learn how to recognize answer choices that are deliberately deceptive – and wrong. There are a few common patterns here that will become apparent as you proceed with your test preparation.

One recognizable pattern is commonly found in the Problem Solving section. It involves an erroneous answer choice giving a value that would result from following a common computational error. You can avoid these deceptive choices by using scrap paper, checking your answers and using estimation to at least judge the general range of the correct choice.

Practice, Practice, Practice
As we stated at the top of this page, there are a number of tips and techniques to taking the GMAT that will significantly raise your overall score. This is a test that you can prepare for, despite anything the test-makers state. We strongly encourage you to use actual questions from previous exams as you practice, as we have noticed a material difference in the nature and quality of test questions prepared by ETS versus those written by GMAT prep companies. We also strongly encourage you to practice taking the exam in its computer-adaptive format.

Finally, we encourage you to spend most of your preparation time studying and practicing questions in your weakest subject area. While we believe every test taker benefits by reviewing each GMAT exam section, focusing on your weakest areas will make the most efficient use of your test-prep time.

Don't Wait Too Long to Take the GMAT
Don't count on taking the GMAT at the last minute. Should you need to retake the exam, you will need time both to register for the test again and to have the new scores submitted to schools in time for the application deadlines. Scheduling the GMAT well into the admissions season is also bound to cause most test takers undue stress. With proper planning and insight, you can spare yourself these negative energies and instead focus on maximizing your GMAT score.


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Top Five GMAT Study Mistakes by Manhattan GMAT

Let's face it--it's been years since you've studied for a standardized test. You have vague memories of filling in bubbles with a #2 pencil, but that's pretty much where your recall ends. Now, you've got the GMAT in front of you, and it's time to hit the books once again. Since everyone learns differently and has different study techniques, it can be hard to prescribe a universal method. However, having observed thousands of GMAT test-takers over the years, we at ManhattanGMAT have identified five common study mistakes that students make while studying for the GMAT.

Mistake #1: Believing that "more is more"
A common misperception is that the only way to truly master the GMAT is to see every problem in existence. And given the number of GMAT guides available at your local bookstore, there is plenty of material out there. Of course, you do want to see a variety of problems, so that you know which concepts are tested, and how. However, simply exposing yourself to all sorts of problems is not enough; you have to actually study the problems, and this may mean doing fewer problems. You are not done with a problem when you get it right. You should spend twice as long reviewing a problem as you spend doing it, whether or not you got it correct. (I'm serious on that one.) As a part of your review, ask yourself whether you identified the topics being tested. Did you do answer the question in the most efficient way? Was there another approach you could have taken? Does the problem or any of the concepts remind you of other problems you've seen? The goal is to find a lesson in each question and be able to apply those lessons to the next group of problems you do.

Mistake #2: Believing that "more is more," part deux
I once knew a GMAT student who believed that if he took a practice test a day for six weeks, he would be prepared when the actual test date rolled around. Prepared to jump off a bridge, I thought, but not prepared to take the test. Just like doing too many practice problems, taking unnecessary tests will not help you learn the material necessary to do well on the GMAT. Use practice tests sparingly. Use them to build stamina, get accustomed to the timing constraints and gauge your progress. Practice tests should not be your primary study tool. If you are fortunate enough to be using a test that gives you diagnostic information, use that information to guide your future studying. Focus primarily on your weakest areas, but don't let any particular topic or question type go cold. Whatever you do, DO NOT get hung up on your score. These are practice exams; for good or ill, the real exam will be a completely different experience.

Mistake #3: Believing that "more is more," part tre
It's a rare bird who did not, at some point during college, pull an all-nighter cramming for a nasty final exam. Remember when it was 3 a.m. and the room was littered with half-drunk cups of coffee, empty pizza boxes, discarded Twizzlers' wrappers and numerous rumpled cheat sheets? That was fine when you were 19 and trying to remember a semester's worth of human behavior biology; it won't cut it now. Studying for long periods of time is not effective preparation for the GMAT. Rather, pace yourself. Give yourself a good three months to prepare for the test, working about two hours a day. Mix up your study sessions so that you work a bit on verbal and a bit on quantitative topics. Do a group of problems (say, 20 minutes worth) and spend the next 40 minutes reviewing your work. Take a stretch break, come back, and do another group of problems. Review those intensely, and then call it a day. Longer work sessions lead to diminishing returns, a concept that all business schools care about.

Mistake #4: Forgetting about time
Time is your most valuable resource when you take the GMAT. Since you have only 75 minutes to answer either 41 verbal questions or 37 quantitative questions, how you allocate those precious minutes is crucial to your overall strategy and success. Too often, GMAT takers put too much emphasis on getting the problem right and not enough emphasis on getting the problem right in the right amount of time. Always, always, always do your practice timed. Give yourself a certain number of minutes to complete a set of problems. This way, you can see how well you balance those problems that take a little too long with those that you can do faster than the average bear. Always strive to find the most efficient way through the question.

Mistake #5: Doing only the stuff you're good at
It feels great to do a set of problems in the right amount of time and get them all (or nearly all) correct. When that happens, give yourself a sincere pat on the back. But then go in search of material you are less comfortable with. Working only on topics or problem types you already feel great about won't help your overall score nearly as much as making improvements in areas where you aren't quite up to snuff. Because of the GMAT's adaptive nature, your weaknesses create a ceiling for your strengths. You won't see a 700-level sentence correction question if your reading comprehension is down in the 500s. In order to take the most advantage of your killer grammar skills, you have to increase your RC level. So, bite the bullet and do the hard work. It may not feel quite as fun the first time out, but you'll love the improvements you'll make over time.

Conquering the GMAT can seem like a daunting task. But if you avoid these five mistakes, you'll be well on your way to victory. And if you get stressed, grab one of those old #2 pencils and start gnawing away on the end of it. I mean, it's not like they'll let you use it for the test, so you might as well get some use out of it.

About Manhattan GMAT

Manhattan GMAT is the nation's largest GMAT-exclusive preparation provider. Manhattan GMAT's mission is to provide students with a blend of the academic and test-taking skills essential for success, given today's higher standard for what defines a competitive GMAT score. Preparation options include nine-session courses, private tutoring, one-day workshops, and corporate classes on-site at many Fortune 500 companies. The Manhattan GMAT Strategy Guides, the heart of our curriculum, can be purchased through our online store or major book retailers like Barnes & Noble.

Check out our website to learn more about our upcoming programs, curriculum and instructors.

*GMAT and GMAT CAT are registered trademarks of the Graduate Management Admissions Council, which neither sponsors nor endorses this preparation service.

For more B-school and GMAT insight from the experts at Manhattan GMAT, check out our MBA Resources.


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Win a $2,000 No-Essay Scholarship

College Prowler, an information site for prospective college students is offering a chance to win a $2,000 scholarship that can be used for undergraduate or graduate level education. No essay is required. Simply fill out College Prowler's form by August 31, 2010 for a chance to win. Applicants must be a legal resident of the United States and planning to enroll in school within the next 12 months. International students are also eligible if they have a valid visa.

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Thursday, August 19, 2010

SP Jain wins Asia’s Best B-School award

Besides the best B-School award, S P Jain has also won the Best Industry Interface award.

Also, John Davis, Dean of S P Jain’s Global MBA program won the Best Marketing Professor Award.

The awards were conferred by the CMO Asia under the chairmanship of Andrew Kelly, and Stars of the Industry Awards under the chairmanship of Jonathan Peters.

CMO Asia Awards accolades organizations, Chief Marketing Officers, Professors from the greatest B-Schools of Asia and HR professionals who have shown leadership in their respective fields combined with consistent innovation.

The CMO Asia Awards have been represented by 25 countries across Asia.

Other recipients present at the ceremony included professors from Nanyang Technological University, Singapore Management University, Insead, Australian School of Business, Melbourne Business School, Zayed University, American University of Sharjah, British University in Dubai, IIM Bangalore, IIM Calcutta, IIT Bombay, Universiti Sains Malaysia, Georgia State University and several other reputed schools.

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100 Essential Resources for Doing Business in China

China has emerged as an amazing economic power that brings plenty of opportunities for entrepreneurs and business people alike from outside China. If you plan to do business in China, there are several areas you should study prior to launching your business venture. The following resources include journals and newspapers, informative articles, blogs and podcasts, and free classes to help you learn about international business, Chinese culture, and even how to speak Chinese. Take advantage of these resources to get the best start possible on your business relationship in China.

Business Journals and Newspapers

Stay on top of all the news that affects business in China with these journals and newspapers.

1.The China Business Network. Learn about advertising, technology, cultural business strategies, and more as well as read interviews from important business people in this online journal.
2.China Success Stories. Take advantage of the experience of those who have gone before you and learn what these business people did to create a successful business venture in China.
3.China Economic Review. Stay on top of the economy in China with this journal.
4.The China Business Review. Find out about the supply chain, exporting, environmental issues, and more in this journal.
5.China Business Info Center. Read the latest news and headlines that pertain to doing business in China here.
6.Asia Times Online Greater China Business. Get all the news happening in China that may affect business there.
7.China Stocks, Companies, and Industry Analysis. Learn about the news that relates to stocks in China from this source.
8.China Briefing. Publishing in China since 1999, this business news publication offers news and information about doing business in China.
9.China Digital Times. The site sponsored by the Berkeley China Internet Project brings news stories about business, tech, and more coming out of China.
10.Wall Street Journal China Journal. Learn about Chinese business, economy, and culture with the reports from this respected news source.
11.China Business Market News. Get free articles on Chinese economy, investments, retail, pharmaceutical, technology, and more.
12.China Business News. Interfax China provides news that touches on telecommunications, metals, energy, commodities, and more.
Organizations

Being connected with other business people can be important to the success of your business venture. From business associations to sustainable development groups, these organizations will help you make important connections.

13.The US-China Business Council. This non-profit organization exists to support and maintain positive US-Chinese trade practices.
14.American China International Business Association. Working to develop successful business relationships, this non-profit organization works closely with government and businesses in China.
15.The American Chamber of Commerce in the People’s Republic of China. This non-profit organization works to provide solid business practices for its members.
16.Committee of 100. This group of American citizens with Chinese backgrounds has worked to secure important and respected positions in the community and work to better US-Chinese relations as well as provide a forum for specific issues faced by Chinese-Americans.
17.The 48 Group Club. This independent business network, with a heavy British presence, serves to promote good relations with China.
18.China Council for The Promotion of International Trade. Working to promote foreign trade, investment, and technologies, this group strives to create strong working relationships between China and foreign countries.
19.China Business Council for Sustainable Development. This organization of Chinese and foreign businesses work together to create sustainable development in an effort to promote environment health safety and social responsibility.
20.International Chamber of Commerce. This international business group works to strengthen the world economy, job growth, and overall prosperity in a global environment.
21.Business for Social Responsibility. This global network of businesses work together to create sustainable business practices. This organization also has a Chinese counterpart.
22.Transparency International. With a chapter of this organization in China, this politically non-partisan group works to end corruption in both public and private sectors around the world.
Articles

From learning what to do or not to do when conducting business in China to the importance of being in business groups, these articles will inform you on the best business practices in China.

23.7 Deadly Perceptions About Doing Business with China. Don’t fall victim to these misperceptions and you will be on the way to a successful business partnership.
24.China Tries to Solve Its Brand X Blues. This article offers insight to the importance of branding in China and the struggles currently faced by companies there.
25.7 Secrets to Business Success in China. These simple yet effective suggestions will have you starting off on a promising venture in China.
26.Starting a Business in China. Discover the procedures and costs involved with setting up a business in China with this table provided by Doing Business.
27.Business China. This interview with a European businessman working in China for 16 years provides insight to what it is like to do business in China.
28.Business Groups in China: Is Qiyejituan Membership a Guaranteed Advantage?. This article from the W.P. Carey School of Business explores the role of business groups to the success of firms in China.
29.‘Quality Fade’: China’s Great Business Challenge. Take a look at one popular theory as to why the quality of Chinese goods has deteriorated and how they can improve.
30.Business Travel in China. Learn invaluable tips from meals to dress code to business card etiquette to use while on business in China.
31.Why China Won’t Come to the Rescue. Looking at the recent financial history between China and New York, this article explains an important reason why China may not help America’s financial crisis.
32.Tips on Doing Business in China and China Sourcing. While this article is intended as a sales tool to use this company’s services, it nevertheless provides valuable information on doing business in China.
33.Inside the War Against China’s Blogs. This Business Week article describes the power of blogs when it comes to businesses and their practices in China.
34.Rough Guide to Outsourcing in China. Read this businessman’s journal documenting his experience while in China to visit suppliers. After the article, scroll down for tips on finding a supplier in China and survival tips while traveling in China.
35.10 Best-Kept Secrets to Selling in China Successfully. Two experts in Chinese business offer suggestions for successful business relations in China.
Government, Legal, and Non-Profit Resources

These resources range from governmental websites about exporting to China to Chinese laws to a database of important Chinese leaders.

36.China Business Information Center. Learn all about exporting to China with this resource from Export.Gov.
37.China Business Intelligence. This site from The American Chamber of Commerce in the People’s Republic of China offers links to other sites ranging from legal issues to tax issues to human resources.
38.China International Economic and Trade Arbitration Commission. Find arbitration rules and news pertaining to arbitration at this site.
39.China Stands Up. This series from Project Syndicate examines China’s impact on world trade and the global environment.
40.Foreign Trade Law of the People’s Republic of China. With this resource, you will ensure you understand the laws in China regarding foreign trade.
41.Securities Law of the People’s Republic of China. Having a business in China may mean you become involved with investors, public stock in your business, or other securities issues. Know the Chinese law before you begin.
42.China Commodity Net. Find Chinese suppliers with international certification or browse by location within China or product name to find suppliers at this government site.
43.China Data Center. From the University of Michigan, this site offers statistics on China including information on census, agriculture, economics, and more.
44.China Watch. A part of World Watch, this organization monitors safety, health, and environmental issues in China as they pertain to policy-makers, businesses, and non-governmental agencies.
45.China Vitae. This site keeps information on over 3000 Chinese leaders from several sectors including government, politics, business, education, and the military.
46.Global Institute of Logistics China Report. This organization works to connect academia with the business world, and this page is devoted to business in China.
47.Business Library 2.0: Doing Business in China. These links provided by the University of Florida offer articles, advice, and resources for doing business in China.
Blogs

Blogs hold an important place in the business culture in China. Follow these blogs to learn what you need to know and help you become a part of the Chinese business community.

48.Asiabizblog. Learn about the latest news about doing business in China with this blog that is updated twice weekly.
49.ChinaSolved Blog. The blog at this site offers great advice to help you improve your business relations with your Chinese counterparts.
50.China Business Blog. From the financial markets to trade surplus, learn what is affecting businesses in China at this blog.
51.China Business SEO Marketing Guide. Find out how to boost your online presence for your business in China with the advice on this blog.
52.All Roads Lead to China. Get a better understanding of China through the posts offering strategic insight and advice on this blog.
53.Business and Finance on Danwei. From Chinese labor laws to technology policies in Asia, learn about the details of doing business in China here.
54.Best Practices China Blog. This blog offers "international business skills for China’s professionals" with advice and suggestions to improve your business relationships.
55.China Business Law Blog. Written by a Chinese man attending law school in Texas, this blog offers insight and news analysis of China and business law.
56.China Environmental Law. Keep up-to-date with Chinese environmental and energy laws and policies with this blog written by an international lawyer in China.
57.China Financial Markets. Written by a business professor in China, this blog offers important information about the financial markets.
58.Experience Not Logic. This blog states its purpose to "explore the business and legal culture of China."
Videos and Podcasts

These videos and podcasts can help you stay on top of the news, culture, and even learning the language in China.

59.ChinaOnTV Business Videos. Watch video clips featuring business news from China at this site.
60.China Business Blog and Podcast. Listen to podcasts from this consulting firm offering information on doing business in China.
61.China Talk Radio. Get podcasts here that deliver speeches from some of the top business people working in China.
62.The China Business Show. These podcasts bring interviews from experts in the fields of advertising, business culture, entrepreneurship, and much more.
63.ChinesePod. Learn Chinese with these podcasts. One week is free, but then you will need to pay to continue the service.
64.Interview with Jill Buck, Founder of the Go Green Initiative. Listen to this podcast to learn about this organization and how it is working with China.
65.The Cool Aid . Listen to podcasts from bizCult about living and doing business in China from this site.
66.Danwei FM. Get podcasts from one of the most popular China blogs on the Internet.
67.Marketplace from American Public Radio. The Asia section covers all of Asia, but has a preponderance of podcasts on China.
68.Peace Corps Language Lessons. Get Mandarin lessons on podcast from the Peace Corps here.
69.CSLPod. These podcasts are intended for those learning Chinese as a second language.
International Business Schools

The business schools in China have gained a reputation as some of the best in the world. If you plan to pursue your MBA in China, check out these schools.

70.China Europe International Business School. Earn an MBA at this school located in China run exclusively for business people operating in or moving to China.
71.University of International Business and Economics. The first institute of higher learning for Chinese international business, this business school enjoys an excellent reputation as a leader in business education.
72.Cheung Kong Graduate School of Business. The first non-profit business school in China, this school not only attracts top educators, it also promotes a strong sense of social justice in its education.
Free International Business and Politics Classes

Whether you already have an MBA or are just gaining more knowledge about doing business in China, these free classes will help you understand the economic, political, and business culture in China.

73.International Trade. Study current topics of international trade to determine the flow of goods across borders and what determines the flow of savings and investments between countries.
74.International Economics. Learn the basics in trade theory, policy, and international finance in this class.
75.International Economics I. This graduate level class from MIT explores the field of international trade and foreign investment.
76.FT Business School Growing Business Opportunities in China. From Financial Times, this course offers videos, online Q&As, and more to help you learn about doing business with China.
77.Global Markets, National Politics and the Competitive Advantage of Firms. Study the risks and opportunities available to businesses operating in a global markets.
78.Global Entrepreneurship Lab. Learn about the challenges faced by entrepreneurs in the global world of business in this lab class.
79.Global Strategy and Organization. This course teaches business owners and managers how to lay the foundation for a successful company in international business.
80.International Relations. This introductory course strives to teach students the basics of international relations including idealism and realism.
81.International Relations of East Asia. Explore western relations with East Asia both before and after the Cold War and examine how this history has shaped current relations.
82.International Environmental Negotiation. Learn how to successfully negotiate for sustainability when working internationally in this graduate level course.
83.Government and Politics of China. Examine pre-Communist and Communist China to discover how the current political system has developed.
84.Comparative Politics and China. Study contemporary Chinese politics and relate them to the wider field of comparative politics in this graduate class.
85.Analyzing & Accounting for Regional Economic Change. Learn about factors within regions that affect economic growth and development in a global economy.
Language Classes

Doing business in China means you will probably need to speak some of the language. These university courses are all free and will have you speaking Mandarin before you know it.

86.Chinese I. Learn the basics of Mandarin with these lessons specially created for open courseware. This is the first in a series of four classes.
87.Chinese II. The second course of the series, this class focuses on conversation, reading, and the structure of the Chinese written language system.
88.Chinese III. In the third section of this series, this class builds upon what was learned in the prior classes to strengthen conversation and writing skills.
89.Chinese IV. Continue your lessons in the final course of the series while focusing on strengthening your reading skills and gaining confidence with the spoken word.
90.Chinese V: Chinese Cultures and Society. This course combines text lessons with real-life explorations of Chinese culture.
91.Chinese VI: Discovering Chinese Cultures and Society. Sharpen the sophistication of your written and oral Mandarin in this course that explores various real-life resources to further your studies. Conducted in Mandarin only.
Culture Classes

Before you begin doing business in China, you should get an understanding of the culture there. These free classes will enlighten and educate you in the ways of the East.

92.Chinese Foreign Policy. Learn the history of Chinese policy from the Cold War era to present day with this class offered through MIT.
93.Traditional Chinese Literature: Poetry, Fiction, and Drama. Learn about the major Chinese genres in traditional literature in this class.
94.Cultural Performances of Asia. Examine the way traditional and present-day performances in Asia communicate culture in this class that utilizes text, video, audio, and online materials to teach the subject.
95.Smashing the Iron Rice Bowl: Chinese East Asia. Follows the lives of ordinary Chinese citizens as they experience enormous changes of 19th and 20th centuries in this course.
96.Race and Gender in Asian America. Explore the Asian American experience so that you can better understand the intersection of traditional Asia and America in your business practices.
97.Working in a Global Economy. Find out about practice and policy of doing business in a global economy.
98.Communicating Across Cultures. Learn how to bridge culture gaps in this class that focuses on communication issues.
99.East Asia in the World. Study the history of East Asia, most specifically China and Japan, and their relationships within East Asia and abroad.
100.Introducing Regional Integration. From the United Nations University, this course teaches about integrating regions both across countries and within countries.


www.credila.com

HHL accredited by AACSB International as the first private business school in Germany

HHL - Leipzig Graduate School of Management, founded in 1898 as Germany's first business school, is proud to announce its accreditation by AACSB International. This is not only a sign of the excellence of management education at HHL, but also evidence of the international orientation of HHL’s programs and of HHL's successful relationships with its partners and friends, faculty and staff, students and alumni.

To achieve accreditation, HHL went through a long and demanding process of studying accreditation standards and procedures, applying for accreditation eligibility, collecting data and introducing various improvements at HHL. It produced a detailed and comprehensive self-evaluation report, and finally hosting a distinguished peer review team that spent three days at HHL to verify HHL’s self-evaluation and to gain further first-hand information about HHL and the management education it offers.

The long process was worth it – HHL is now internationally visible and recognizable as conforming to the high quality standards for management education set by the leading organization for business school accreditation – AACSB International. This achievement underlines the quality approach of HHL as well as it’s international orientation. At presence 35% of HHL’s students are from outside of Germany. The number of talented and qualified international students is expected to raise as a result of the accreditation by AACSB.

In a continuously growing market of management education the accreditation by AACSB International demonstrates HHL’s quality advantage, which allows HHL to join the top Business Schools worldwide. HHL’s Dean, Prof. Dr. Arnis Vilks point out: „This is an important milestone to further broaden our international orientation and allows us to grow further. The recommendations of AACSB show professors and staff opportunities for sustainable quality assurance to continuously improve processes at HHL”.

After their visit at HHL, the peer review team of AACSB International released the following statement:

“The peer review team recommends initial accreditation of the business programs of HHL. In the opinion of the peer review team, the programs offered by the HHL are characterized by overall high quality, and there exists a positive environment for promoting continuous improvement. The school has the resources and the ability to achieve its mission, to sustain its overall level of quality, and to maintain its continuous improvement efforts. The School has considerable strengths that contribute to its position as a global leader in management education.”



HHL – Leipzig Graduate School of Management is Germany’s oldest Business School and is today again one of the leading business schools in Europe. HHL offers a graduate diploma program in business administration, a 15 months full-time MBA program as well as a two year part-time MBA program.

AACSB International is a not-for-profit organization consisting of more than 900 educational organizations and corporations. Its mission is excellence in management education in colleges and universities. Headquartered in St. Louis, Mo., USA, AACSB International is the premier accrediting agency and service organization for business schools.

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Audencia: True life-long learning from re-launched MBA

International Audencia MBA breaks the mould with career-long e-learning

In a move which questions the one-shot nature of most MBAs, one of France’s top five management schools has revamped its international MBA to offer a novel life-long learning package. This full-time programme will be marketed as International Audencia MBA.

The MBA, revised from a programme offered since 1984 by Audencia Nantes School of Management, will open in September of this year allowing participants to take a classic 12-month course followed by a major innovation – a tailored programme of career-long e-learning modules linked to a breakthrough knowledge support service. In this way, those taking International Audencia MBA have the option of a personalised re-actualisation package that allows them to keep in constant touch with the ever changing business world.

Built on two strengths

Taught solely in English by international experts, the new look MBA rests on two of the school’s strengths: Campus.Net and the Portfolio of Competencies. Campus.Net technology will allow alumni from the classic 12-month core MBA programme to combine work with further e-learning modules, while the Portfolio of Competencies means each participant’s personal development is regularly gauged so helping them reach their full potential.

Through the e-learning aspect of International Audencia MBA, managers have more freedom to pursue the extra studies of their choice with the guidance of a personal tutor. After the MBA’s 12-month programme each participant can choose a 24 hour-long e-learning module per year over three years at no extra charge. This approach can then extend throughout alumni’s lives on a pay-as-you-study basis. Once the free package of three years’ e-learning has been completed, alumni come back to the school for two days to act as manager for one of the teams from around the world involved in the International Audencia MBA Competition. This puts them into a multicultural business atmosphere close to reality, so testing their skills.

Foundations of management

Designed to suit the business world and in line with the school’s overall strategy, International Audencia MBA recruits managers with at least three year’s experience and a BA, BSc, MA, MSc or equivalent. With its breadth of core modules, the programme does not neglect the basis of management, from Finance and Accounting to Law or Marketing. These core subjects plus the choice of specialisation tracks are rounded off by a 30,000 word project. The programme costs 17,000€ for the 12-month core course and three years of e-learning modules.



www.credila.com

Wednesday, August 18, 2010

School stories > Business Student Q+A

Where are you from?
I was born in Kenya, and I'm of Indian origin. I'm a British Citizen - I came here when I was four (I’m 47 now).

Why did you decide to do an MBA?
I wanted to understand why business decisions are made the way they are. I believed managers must have known something more than I did as I could not always understand their decisions. Hence I wanted to discover for myself.

Why did you pick Open University?
I looked at LBS as an alternative but they wanted every other Friday off work as well as a few others – too time consuming. OUBS material stood out head and shoulders above the rest according to the internet and past students. OU also has more experience in distance learning.

Do you think online learning is for everyone? Do you find it hard to learn without a professor?
Not while peer groups exist. I find it easier to fit learning in when I can. The course uses many different techniques, from researching material to following step by step processes – different students at different levels made the learning more interesting as we helped one another – I think much more is gained this way then being taught in a class in a routine manner. Assignments were all related to real-life work situations so they were very engaging.

What other universities did you consider?
London Business School and Brunel.

What is it like juggling a full-time career as well as studying an MBA?
VERY DIFFICULT – especially if you want good results. I could have scraped a pass with minimal effort to make life easier but the more engaged I was, the more I gained. The pressure of juggling teaches you to be better prepared and to handle the stress of deadlines, and ‘side swipes’ as unexpected situations arise.

Have you been able to actively use what you're learning in your MBA and apply it to your Sharepoint Service Manager position at GlaxoSmithKline?
In explaining situations, proposing changes, yes. But I still need to use the models unattributed as there are academic models that are best left in class and not the real world!

How do you make time for your personal life?
In between assignments. And I force myself to take the odd weekend off study and off work – family time!

Are you afraid of missing out on networking opportunities that would be available if you did an MBA in the traditional classroom setting?
No. I believe the residential sessions and tutorials provide networking opportunities, along with the alumni evenings. Besides, with social media, the net is very large if I want more social connections!

What do you want to do after your MBA?
I want to expand on changes in the behaviour of employees and in management brought about by social networking and the digital age. I think there are opportunities to fill gaps in research here.. so I’d like to do a PhD.

What is the best thing you've found about online learning?
Flexibility. Stop and start when you want. It’s easier to integrate school with work as I’m not tied to a single task.

www.credila.com

School stories > Business Student Q+A

Where are you from?
I was born in Kenya, and I'm of Indian origin. I'm a British Citizen - I came here when I was four (I’m 47 now).

Why did you decide to do an MBA?
I wanted to understand why business decisions are made the way they are. I believed managers must have known something more than I did as I could not always understand their decisions. Hence I wanted to discover for myself.

Why did you pick Open University?
I looked at LBS as an alternative but they wanted every other Friday off work as well as a few others – too time consuming. OUBS material stood out head and shoulders above the rest according to the internet and past students. OU also has more experience in distance learning.

Do you think online learning is for everyone? Do you find it hard to learn without a professor?
Not while peer groups exist. I find it easier to fit learning in when I can. The course uses many different techniques, from researching material to following step by step processes – different students at different levels made the learning more interesting as we helped one another – I think much more is gained this way then being taught in a class in a routine manner. Assignments were all related to real-life work situations so they were very engaging.

What other universities did you consider?
London Business School and Brunel.

What is it like juggling a full-time career as well as studying an MBA?
VERY DIFFICULT – especially if you want good results. I could have scraped a pass with minimal effort to make life easier but the more engaged I was, the more I gained. The pressure of juggling teaches you to be better prepared and to handle the stress of deadlines, and ‘side swipes’ as unexpected situations arise.

Have you been able to actively use what you're learning in your MBA and apply it to your Sharepoint Service Manager position at GlaxoSmithKline?
In explaining situations, proposing changes, yes. But I still need to use the models unattributed as there are academic models that are best left in class and not the real world!

How do you make time for your personal life?
In between assignments. And I force myself to take the odd weekend off study and off work – family time!

Are you afraid of missing out on networking opportunities that would be available if you did an MBA in the traditional classroom setting?
No. I believe the residential sessions and tutorials provide networking opportunities, along with the alumni evenings. Besides, with social media, the net is very large if I want more social connections!

What do you want to do after your MBA?
I want to expand on changes in the behaviour of employees and in management brought about by social networking and the digital age. I think there are opportunities to fill gaps in research here.. so I’d like to do a PhD.

What is the best thing you've found about online learning?
Flexibility. Stop and start when you want. It’s easier to integrate school with work as I’m not tied to a single task.

A Journey of Discovery in Asia – The AGSM MBA IBSA Elective

As is clearly visible from the statistic, Asia today constitutes 60% of the total world population and is fast emerging as global powerhouse in almost every Business sector. In such a scenario, it is vital for any MBA graduate to be well aware of the opportunities and challenges in Asia as it is impossible for an organization to establish a global footprint and make a true contribution to the world without having strong operations in Asia.

To impart this knowledge to its MBA graduates and prepare them to do Business in these countries the AGSM MBA Programs has designed a new course offering called the International Business Strategy in Asia (IBSA) Course.

The focus of this program is to allow participants to work and travel together as a select cohort to explore and gain greater understanding about business strategies and growth opportunities across Asia. The subject offers an intensive international ‘live-in’ residential study program and cultural learning experience across Sydney (Phase 1), Singapore (Phase 2) and Mumbai (Phase 3).

Its aim is to broaden students’ international business perspective and knowledge, and introduce challenging business cases in each of the countries visited. It was formed as a result of the emerging ties the AGSM MBA has developed with SP Jain, one of Asia’s leading business management teaching schools.

The subject currently involves 5 weeks of classes held across the 3 cities within a tailored timetable that enabled part time students to fully undertake the course with only 10 days away from work.

In its initial year (2009) the course contained 30 MBA Students (22 part time, 8 full time).

An excerpt from Anthony Burrows and Jennifer Killian's (two full time MBA students from the AGSM Class of 2010) article for the AGSM Star (eNewsletter for full-time MBAs) provides a student insight into the course.

“Our first stop during the two week journey of discovery was Singapore where we were warmly greeted by quality speakers and students at the SP Jain Centre of Management (SPJCM). AGSM Alumni, veteran CEOs and government officials on the Singapore Development Board rounded out the morning lectures. During several of the afternoons we headed out to visit some local companies including a number of logistics companies (including YCH group and UPS) and toured the Asia Pacific Breweries, home of the famous Tiger Beer. The evenings were spent duelling with the local Chilly Crabs and working our way through the list of recommended night spots.

We also enjoyed a networking lunch hosted by SPJCM and its local cohort – sharing stories of inspiration and testing our coordination with an Indian dance-off! “

The students also took away great insights from their visit to Mumbai, as Anthony says

“On arriving in Mumbai, we dove head first into a routine of morning presentations from some amazing speakers and afternoon tours, including the Bombay Stock Exchange, the Gateway to India and the famous Taj Mahal Hotel to tread the same steps as Gandhi himself.


The Mumbai Slum tour was a highlight for those that dared. Interestingly the friendly and welcoming people living in the Dharavi Slum were very proud of their existence and entrepreneurial spirit. We saw whole industries running within the confines of the slums such as plastic recycling, bakeries and machinery and clothing manufacturing, all contributing toward a staggering $US 665,000 annual turnover for Dharavi Slum alone."


Overall the course was an unqualified success and all students took away a tremendous amount from their experience. Universally they felt that they were more enriched MBA students and better future business leaders as a result.

To learn more about the AGSM MBA Programs at the Australian School of Business, UNSW visit the AGSM MBA BusinessBecause Page and connect with current students and Alumni.



www.credila.com

Lancaster MBA: From Indian Dotcom to UK Waste Water

We interviewed an IT/telecoms entrepreneur from the backwaters of Kerala, Southern India, to find out how he ended up launching a green tech firm out of Lancaster, UK. Read on - it's a page-turner for anyone with an entrepreneurial spirit.

Riding the telecoms wave in India

Manoj Krishnapillai is from Trivandrum, Kerala, a beautiful coastal state in SouthWest India. Krishnapillai was studying a Masters in Electronic Science at the Mahatma Gandhi University, when he joined forces with a bunch of engineering students to propose a new marketing idea to Indian telecoms operator Hutch (now Vodafone Essar). Early in 2005, the group was hired by Hutch to increase cell phone subscriptions from college students in India.

Setting-up shop in Kerala

Energised by the success of this telecoms project, the team decided to register a company in August 2005 (TORQUE), and set up shop in TechnoPark, one of the biggest IT parks in India as well as a business incubator providing office space and basic infrastructure for start-ups. They gunned ahead, hired more people and started working on mobile phone applications, but treaded water for a few months whilst "nothing really took off". The team were determined to buck a trend in Kerala - a state with few tech entrepreneurs, strong trade unions, an unfriendly investment climate and family pressure to work for big companies - and stay focused on finding a new telecoms technology to bring to market. After several months the initial payouts from the Vodafone campaign were dwindling and being from middle class backgrounds the TORQUE team couldn't raise funds from immediate family to cover their operating costs. The following year was incredibly tough.

The big idea

Finally the light at the end of the tunnel came in 2006 when the group stumbled across the concept of sending condensed multi-media from mobile phones via the internet. They got their previous supporter Vodafone on board and soon sold the idea to all the major phone networks in India. They raised two tranches of funding - an impressive half a million dollars each time – from Indians living overseas. TORQUE then rebranded as MobME and started licensing their various platforms to mobile operators, news agencies and various government bodies in India and abroad – their new technology proved helpful for crime reporting as anyone can upload an image from anywhere.

The big time

By 2007 the boys had hit the 'big time'. MobME was named in the top 100 most innovative start-ups in India by NASSCOM, the team had attracted some impressive mentors (including the CEO of Infosys and VPs of Google and Nortel) and they were making headlines in the newspapers every week. International recognition came a year later when, in 2008, MobME was selected by the Wall Street Journal as one of the companies "to watch" in India.

From telecoms to green tech

Three and a half years on Krishnapillai decided he wanted to shift his career from IT/ Telecoms to environmental technology entrepreneurship. He had developed a personal passion for climate change and renewable energies, but realised it was difficult to pursue work in these fields in India. So Krishnapillai started researching foreign universities and scholarship programs. It was at this stage he first became aware of Lancaster University Management School (LUMS).

Choosing the Lancaster MBA

Krishnapillai quickly fell in love with the idea of Lancaster, which hosts some of the best on-campus business incubation facilities, including the Lancaster Environment Centre (LEC), one of the biggest environmental incubators in Europe. Despite receiving offers from other top UK MBA programs, he picked the Lancaster MBA, and was lucky enough to be awarded a British Chevening Scholarship to cover his tuition and living expenses for the one-year Masters. He moved from SouthWest India to NorthWest UK in September 2009.

Mother earth

Now in the home-stretch of his MBA, writing his dissertation, Krishnapillai is preparing for his next entrepreneurial venture: Gaea Naturals (the Greek for 'Mother Earth'). Along with two fellow Lancaster students, Sonu Bubna and Shams Qamar Usmani, this threesome hope to become the “market leader in the UK for water treatment technologies ". Their idea has already won recognition at the prestigious university business plan competition hosted at Rice University in Houston, Texas earlier this year: Gaea Naturals made it to the top 15 out of 400 globally. Their first product will be a biological purification technology, that uses a special strain of bacteria to eliminate contaminants from water. Usmani is the brain behind the product - he's been working on the biological treatment of waste water for the last three years and is currently doing his research at the Lancaster Environment Centre . Krishnapillai and Bubna provide the commercial skills for this start-up, and if MobME is anything to go by, no doubt it will be a huge success.


www.credila.com

Monday, August 16, 2010

What guides Harvard B-school dean Nitin Nohria

For several decades Nitin Nohria, the newly appointed dean of Harvard Business School, has known that without generosity life is greatly diminished.

"If you are generous life gives you more than you can imagine," he tells rediff.com as he discusses some of the values that have made him a renowned academic and much loved business teacher.

He was reminded of the importance of generosity as he stood by his maternal grandfather Premchand Goel's pyre many years ago. "I have learned a lot from the example of people like my grandfather," he says.

Goel, an engineer, "was not famous, did not make much money or reach the top of his profession," Nohria recalls, adding that yet the man was surrounded by loving family members and colleagues and people he had helped. He was loved and admired in life and in death.

"I have never seen such respect or love at any other funeral," Nohria adds.

Nohria, 48, the first foreign-born dean of HBS and the first Indian to head the 100-year-old institution, says that his grandfather has had a 'very powerful' impact on him.



www.credila.com

Friday, August 13, 2010

Lancaster MBA: From Indian Dotcom to UK Waste Waterv

We interviewed an IT/telecoms entrepreneur from the backwaters of Kerala, Southern India, to find out how he ended up launching a green tech firm out of Lancaster, UK. Read on - it's a page-turner for anyone with an entrepreneurial spirit.

Riding the telecoms wave in India

Manoj Krishnapillai is from Trivandrum, Kerala, a beautiful coastal state in SouthWest India. Krishnapillai was studying for a technical masters in Electronic Science at the Mahatma Gandhi University, when he joined forces with a bunch of engineering students to propose a new marketing idea to Indian telecom operator Hutch (now Vodafone Essar India). Early in 2005, the group was hired by Hutch to increase cell phone subscriptions from college students in India.

Setting-up shop in Kerala

Energised by the success of this telecoms project, the team decided to register a company in August 2005 (TORQUE), and set up shop in TechnoPark, one of the biggest IT parks in India as well as a business incubator providing office space and basic infrastructure for start-ups. They gunned ahead, hired more people and started working on mobile phone applications, but treaded water for a few months whilst "nothing really took off". The team were determined to buck a trend in Kerala - a state with few tech entrepreneurs, strong trade unions, an unfriendly investment climate and family pressure to work for big companies - and stay focused on finding a new telecoms technology to bring to market. After several months the initial payouts from the Vodafone campaign were dwindling and being from middle class backgrounds the TORQUE team couldn't raise funds from immediate family to cover their operating costs. The following year was incredibly tough.

The big idea

Finally the light at the end of the tunnel came in 2006 when the group stumbled across the concept of sending condensed multi-media from mobile phones via the internet. They got their previous supporter Vodafone on board and soon sold the idea to all the major phone networks in India. They raised two tranches of funding - an impressive half a million dollars each time – from Indians living overseas. TORQUE then rebranded as MobME and started licensing their various platforms to mobile operators, news agencies and various government bodies in India and abroad – their new technology proved helpful for crime reporting as anyone can upload an image from anywhere.

The big time

By 2007 the boys had hit the 'big time'. MobME was named in the top 100 most innovative start-ups in India by NASSCOM, the team had attracted some impressive mentors (including the CEO of Infosys and VPs of Google and Nortel) and they were making headlines in the newspapers every week. International recognition came a year later when, in 2008, MobME was selected by the Wall Street Journal as one of the companies "to watch" in India.

From telecoms to green tech

Three and a half years on Krishnapillai decided he wanted to shift his career from IT/ Telecoms to environmental technology entrepreneurship. He had developed a personal passion for climate change and renewable energies, but realised it was difficult to pursue work in these fields in India. So Krishnapillai started researching foreign universities and scholarship programs. It was at this stage he first became aware of Lancaster University Management School (LUMS).

Choosing the Lancaster MBA

Manoj quickly fell in love with the idea of Lancaster, which hosts some of the best on-campus business incubation facilities, as well as the Lancaster Environment Centre (LEC), one of the biggest environmental incubators in Europe. Despite receiving offers from other top UK MBA programs, he picked the Lancaster MBA, and was lucky enough to be awarded a British Chevening Scholarship to cover his tuition and living expenses for the one-year Masters. He moved from SouthWest India to NorthWest UK in September 2009.

Mother earth

Now in the home-stretch of his MBA, writing his dissertation, Krishnapillai is preparing for his next entrepreneurial venture: Gaea Naturals (the Greek for 'Mother Earth'). Along with two fellow Lancaster students, Sonu Bubna and Shams Qamar Usmani, this threesome hope to become the “market leader in the UK for water treatment technologies ". Their idea has already won recognition at the prestigious university business plan competition hosted at Rice University in Houston, Texas earlier this year: Gaea Naturals made it to the top 15 out of 400 globally. Their first product will be a biological purification technology, that uses a special strain of bacteria to eliminate contaminants from water. Usmani is the brain behind the product - he's been working on the biological treatment of waste water for the last three years and is currently doing his research at the Lancaster Environment Centre . Krishnapillai and Bubna provide the commercial skills for this start-up, and if MobME is anything to go by, no doubt it will be a huge success.


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Several centers around the country reported the same problem with the students asked absolutely ridiculous and offensive questions such as “have you e

Mumbai. Leading English television news channel Times Now has finally conceded that it might have asked just too many questions in the last few years. A bulk of these questions were asked on the channel’s prime time news show The Newshour, while many others kept popping up round the clock as various news and events unfolded. According to an estimate, around 702854 questions might have been asked since the trend started on the channel.

“Yes, that appears like a lot of questions,” admitted Arnab Goswami, Editor-in-Chief of Times Now and the host of The Newshour show. “But I am asking this question to you tonight. And gentleman, I want an honest answer from you. Would you still have watched our shows if we hadn’t asked any questions at all?” Arnab asked our reporter, arguably the 702855th question.
Most of the television news viewers agreed that the questions asked by Times Now were usually sort of interesting, but most of them were unsure where to find the answers.

“Questions are alright, but I could never get the answers, even though The Newshour always overshoots its time limit. For example I still don’t know if Shiney Ahuja is innocent or a rapist?” said Venkat Ashok, a Times Now follower, who also wondered if the channel could come up with a question bank soon containing all the questions asked till date.

Times Now representatives have rejected such criticisms and have argued that the channel’s job was to ask questions, and it couldn’t be held responsible or accountable for lack of answers.

Some hardcore fans of the channel too share the view.

“A news channel is not supposed to provide answers; the common citizens have to hunt for them. Those who want readymade answers without applying their brains should watch NDTV and other similar channels. Barkha Dutt has the answers to all the questions.” said Sameer, a Times Now fan.

Meanwhile Times Now has refused to confirm or deny the rumors that the channel was planning a grand party whenever it breached the one million questions asked milestone.

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CAT servers hacked, students asked extremely personal questions

New Delhi. “Have you ever farted loudly in public?” was the question that popped up on his computer screen when Ankit Agarwal was taking CAT 2009 online at the Delhi Business School center here. A shocked and upset Ankit looked around to find equally dumbfounded faces of fellow test takers at the center. A few minutes passed when all of them realized that CAT servers had been hacked.

“I found all the students straining their eyes and looking around with puzzling looks at each other, and I sensed that something was wrong. But I still answered the fart question by choosing the option (b), which was in affirmative, assuming IIMs wanted to test us on some abstruse parameter as MBAs are often accused of creating fart. And to my horror, the next thing on screen was a middle finger, telling me I was a loser. I immediately knew that the servers were hacked.” Ankit recounted his harrowing experience.
Several centers around the country reported the same problem with the students asked absolutely ridiculous and offensive questions such as “have you ever slept with a potato in your underwear?” and “will you mop up the poop of pet dog of your boss to get promotion?”, all of them ending with a middle finger on the screen when students cared to choose an available option. It was the first day of online CAT (Common Admission Test) for admission to the six (as of today) IIMs and many other well known and lesser known MBA institutes.

“IIMs are known to change the pattern of CAT quite often, therefore many students thought that maybe these questions had some hidden meanings. But we felt like losers once that middle finger appeared on the screen. I talked to many of my friends and all of them feel the same. The questions appeared to have been taken straight out of a show of Sach Ka Saamna.” Chetan Pandit, another CAT test taker shared his experience.

IIMs have called for an emergency meeting this evening to discuss the problem and to nail down the hacker, but the event has already caused huge embarrassment to them. Many students, who otherwise had bunked the online CAT to see movies, were seen demonstrating in front of the centers asking IIMs to go back to paper-and-pen tests. Samajwadi Party activists too joined the protests and broke computers as a symbol of protest.

This unfortunate incident has also caused many test conducting agencies and internet security agencies to pitch for their services to IIMs and ask them to outsource CAT to them. These agencies have also approached Ministry of Human Resource Development with what they termed as ‘lucrative’ proposals.

Meanwhile the students are fuming over the possibility that they will have to take the test again, which is often touted as their ticket to a better life. Most of the students believe, and more importantly want their parents to believe, that they were performing exceptionally well at the test before the hackers struck and denied them an opportunity to change their lives.


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Second rung business school stuck with third rate students

Mumbai. Despite its best attempts to impart quality education and learning experience to its students, Global Business School of Andheri, widely recognized as one of the leading second rung business schools in India making false and exaggerated promises to students, has failed to make any progress on that front. On Wednesday, the b-school squarely blamed third rate students for its failure and also for burgeoning number of second rung business schools in the country.

“The jokers are not interested in learning at all! They are just looking for an extended two years of college life. All that they inquire about if whether the classrooms and hostels are air-conditioned and if they’d get to visit some European countries for a few weeks.” Arun Damle, Director of GBS said, pointing towards a bunch of fashion savvy youths loitering in the reception area.
Global Business School (GBS) offers free laptops to its students and promises a two week ‘industrial tour’ to Belgium to its students, something that has helped it attract a large number of third rate students and millions of rupees every academic session.

“Now we have lost all the fire to provide quality education like the top MBA institutes. At least it’s proving to be a nice business model.” Arun Damle conceded, further adding, “In fact, such things even help us get a better ranking in some of the b-school surveys. Such foreign tours count as ‘global exposure’ and fetch us higher ranks; goes well with our name as well!”

Damle hopes that further surveys for ranking of business schools may take into account number of air-conditioners, MacBooks and cars on the campus, and help GBS get a ranking higher than the reputed MBA schools in India.

“I don’t trust my boys to help me shed the tag of being a second rung b-school, but other things are improving.” Damle said. He agrees with a recent NASSCOM survey stating that only 25% of all the MBA graduates were employable.

“Dude, you have to give it to us. 0% of them are interested in studying when they come in, 25% employability is just awesome.” he argued.


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Thursday, August 12, 2010

Columbia Business School Launches New School-Wide Career Network

Columbia Business School (CBS) this week announced that it will launch a new networking initiative this fall designed to better connect MBA and EMBA students with complete the CBS network, including alumni, faculty, staff, executives-in-residence and more.

Called the Columbia Career Network (CCN), the new program is designed to capture every opportunity for students to interact with alumni and other industry leaders in a single place, creating a one-stop networking shop for the entire school.

Developed in partnership by the Dean’s Office, the Office of Alumni Relations, the Career Management Center and the Office of Student Affairs, the CCN will track and list every occasion in which alumni are scheduled to visit campus to share their expertise and advice with students. Presented in an industry-specific way, this new resource is designed to streamline the networking process for CBS students and ensure that they know about and can take advantage of all opportunities to tap the resources of the extended CBS community.

CBS will launch the new CCN initiative during Orientation 2010 with an official Columbia Career Network Kick-Off. As part of this kick-off event, incoming MBA and EMBA students will be invited to meet alumni, peer advisors, career service staff members and faculty representing a wide array of industries, including consulting, finance, healthcare, investment management, marketing and branding, media and telecom, real estate, social enterprise, and venture capital and entrepreneurship.


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London Business School Receives Generous Anonymous Donation to Fund Scholarships for Brazilian MBA Students

London Business School (LBS) announced last week that it has received a generous scholarship donation from an anonymous donor to support Brazilian students.

The donation will support the Wili and Ilse Scholarship, a fund providing tuition assistance to students of Brazilian nationality who enroll in the school’s MBA program. “This gift will have a real impact on the lives of future generations of Brazilian students at London Business School,” Sir Andrew Likierman, dean of LBS, said in a statement announcing the donation.

Likierman went on to thank the anonymous donor for his or her support, stressing that scholarships are critical in enabling LBS to attract and retain talented and deserving students from around the globe. According to a release from the school, LBS awarded more than 100 scholarships in the past year alone, totaling more than £1 million in student support.

For a full list of scholarship opportunities at LBS, click here.

Posted by Clear Admit at 1:00 pm in Financial Aid, MBA News, School: London Business School


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Tata panel to steer hunt for Ratan Tata's successor

MUMBAI: The search for a successor to Ratan Tata gathered momentum after India’s biggest conglomerate said a five-member panel would select its nextIndia Inc's most powerful CEOs | India Inc's most powerful women leaders | 10 commandments for CEOs and aspiring CEOs | Caricatures of the top 10 CEOs of India
chairman. Mr Tata, 72, head of the $70-billion salt-to-software group, who has built the world’s cheapest car and taken the group global, will step down in December 2012, creating a vacancy for what is widely regarded as the top job in corporate India.

The statement from Tata Sons, the group’s holding company, said the five-member panel included one “external member”. It did not name the members.

Two of the five members represent two trusts that are the major shareholders of Tata Sons while two are directors of Tata Sons, according to people close to the development. The two trusts, named after Ratan Tata and Dorabjee Tata, are major shareholders of Tata Sons. Tata Sons owns the majority of TCS, India’s biggest software maker, and has large holdings in companies such as Tata Steel and Tata Power.

Tata group veteran NA Soonawalla, who is a member of the Ratan Tata and Dorabji trusts, is part of the panel, said the people close to the development. RK Krishnakumar, vice-chairman of Tata Tea and Indian Hotels, and a director of Tata Sons, is representing the group holding company. There is speculation that Keki Dadiseth, former director of Unilever, could be on the panel.

“Other directors such as Arun Gandhi, R Gopalakrishnan and Ishaat Hussain are not part of the panel,” said a top Tata group executive. Mr Tata would act as a mentor of the panel, the people said. There is no clarity on the identity of the external consultant. The name of a prominent management guru is doing the rounds.

The successor would be chosen based on his ability to grapple with the complexities of globalised environment, according to the Tata Sons statement. “It would certainly be easier if that candidate were an Indian national. But now that 65% of our revenues come from overseas, it could also be an expatriate sitting in that position with justification now,” Mr Tata had said in an interview with the Wall Street Journal.

There has been speculation about the chances of Arun Sarin, the former boss of Vodafone PLC, and Indra Nooyi, the current CEO of Pepsi. “You might want an Indian who has worked outside India. This is a great international business,” says Nigel Nicholson, professor, department of organisational behaviour, London Business School.

At the helm since 1991, Mr Tata has led a spectacular foray overseas, resulting in 65% of the group’s revenues coming from abroad. In 2007, Tata Steel paid $13 billion to buy Anglo-Dutch steelmaker Corus while Tata Motors paid $2.3 billion to acquire Jaguar-Land Rover the next year.

In all the Tata group's 98 operating companies have annual revenues of $71 billion and 357,000 employees, according to its website.

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Business Book Of The Year Award 2010: Longlist announced for the Financial Times and Goldman Sachs

The longlist was announced today for the Financial Times and Goldman Sachs Business Book of the Year Award. The Award, which is in its sixth year, aims to identify the book providing the most compelling and enjoyable insight into modern business issues.

The books on the longlist are:

The End of the Free Market: Who Wins the War Between States and Corporations?

Ian Bremmer (Portfolio/Penguin)

How Markets Fail: The Logic of Economic Calamities

John Cassidy (Allen Lane/Penguin Press UK, Farrar, Straus and Giroux US)

Circle of Greed: The Spectacular Rise and Fall of the Lawyer Who Brought Corporate America to Its Knees

Patrick Dillon and Carl M. Cannon (Random House/Crown Publishing Group, Broadway Books)

Fortune’s Fool: Edgar Bronfman, Jr., Warner Music, and an Industry in Crisis

Fred Goodman (Simon & Schuster)

Union Atlantic: A Novel

Adam Haslett (Tuskar Rock/Atlantic Books, Doubleday/Nan A Talese)

The Art of Choosing

Sheena Iyengar (Little, Brown, Twelve/Hachette Group)

The Lords of Strategy: The Secret Intellectual History of the New Corporate World

Walter Kiechel (Harvard Business Review Press)

The Facebook Effect: The Inside Story of the Company That Is Connecting the World

David Kirkpatrick (Simon & Schuster)

The Big Short: Inside the Doomsday Machine

Michael Lewis (Allen Lane/Penguin Press UK, WW Norton & Co US)

More Money than God: Hedge Funds and the Making of a New Elite

Sebastian Mallaby (Bloomsbury, Penguin Press)

All the Devils Are Here: The Hidden History of the Financial Crisis

Bethany McLean and Joe Nocera (Portfolio/Penguin)

What Works: Success in Stressful Times

Hamish McRae (Harper Press/HarperCollins)

Fault Lines: How Hidden Fractures Still Threaten the World Economy

Raghuram Rajan (Princeton University Press)

The Rational Optimist: How Prosperity Evolves

Matt Ridley (Harper/Fourth Estate, HarperCollins Publishers)

Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the Financial System – and Themselves

Andrew Ross Sorkin (Allen Lane/Penguin Press UK, Viking/Penguin US)

MacroWikinomics: Rebooting Business and the World

Don Tapscott and Anthony Williams (Atlantic Books, Portfolio/Penguin)

A shortlist of up to six books determined by this year’s Award judging panel will be announced on 16th September. The overall winner of the 2010 Book Award will be announced at the Award Dinner in New York on 27th October 2010. The winning author will receive £30,000 and the other shortlisted authors will each receive £10,000, an increase of £5,000 over previous years.

The judging panel for the 2010 Award is:

•Lionel Barber, Editor, Financial Times

•Liaquat Ahamed, Author

•Helen Alexander, President, CBI

•Lynda Gratton, Professor of Management Practice, London Business School

•Mario Monti, President, Bocconi University, Honorary President of Bruegel

•Jorma Ollila, Chairman, Nokia; Chairman, Royal Dutch Shell plc

•Shriti Vadera, Adviser to the G20 Presidency, Korea

As a number of books on this year’s longlist address various aspects of the financial crisis, Lloyd Blankfein is recusing himself as a judge this year. Goldman Sachs is delighted to be a founder of the Financial Times and Goldman Sachs Business Book of the Year Award and remains enthusiastically committed to recognizing well written books that provide insight into some of the most important business issues of the day.‬

The Award is designed to highlight the book that provides the most compelling and enjoyable insight into modern business issues, including management, finance and economics. Entries were invited from publishers of business books in the English language first published between 31st October 2009 and 15th November 2010.

Notes to editors:

The closing date for entries for The Financial Times and Goldman Sachs Business Book of the Year Award 2010, invited from publishers or bona fide imprints based in any country, was June 30, 2010. The judges reserve the right to call in titles additional to the published list. Details of the Terms and Conditions are available from www.ft.com/bookaward.

About the Financial Times:

The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the newspaper, printed at 23 print sites across the globe, has a daily circulation of 391,865 (ABC figures June 2010), while FT.com has over 2.5 million registered users and 149,000 digital subscribers. The FT has a combined print and online average daily readership of 1.9 million people worldwide (PwC audited figures, November 2009).

About Goldman Sachs:

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

www.ft.com/bookaward