2018

Stories related to "Master Class".

conversations

I'm No Dr. Love

Marketing is often perceived as being about slick advertising campaigns. To me, marketing is about running a business, a profit and loss account. I start the course by asking students, “If you are running a company and your market share drops, what will you do to fix it?” Students give all kinds of answers to my introductory market share question—they’ll cut prices, innovate, run a sales promotion. I wait until someone says, “We need to figure out what happened.” Unless you get at the underlying cause, you can’t find the solution. I teach from the perspective of presenting the strategic aspects of decision making that are intrinsically linked with marketing. This includes setting an objective for a brand, understanding where customer opportunities lie, and positioning yourself to give your target a reason to buy your product. I call that “the right to win.”<br/>The Framework<br/>I give my students a robust tool kit that enables them to look at any business problem and dissect it. I want my students to be the ones people turn to in meetings because they have something of value to

conversations

Judgment Call

In many disciplines—financial accounting, for example—if you try to practice without any sort of formal education, you could very well end up in jail, says Jane L. Risen, professor of behavioral science. But when it comes to decision making, everybody is making personal and professional decisions all of the time without any formal guidance. Risen's class Managerial Decision Making is designed to provide that: a framework to actively recognize when decisions are likely to go wrong so that you can identify what you might be able to do to make them better.

conversations

Six Days to Pitch

The History: The Global New Venture Challenge (GNVC) is the Executive MBA track in the New Venture Challenge process, which began 21 years ago. We kick off the GNVC in August when all of the Executive MBA students are in Chicago for their electives. The entrepreneurs put together a feasibility study about their businesses, encourage others to join their teams, and submit an application in October. We choose about six teams from each cohort—Chicago, Hong Kong, and London—to participate in the class. The Preparation: Because the course is so short, it actually starts as soon as we choose the teams. I have a kick-off WebEx call in the fall with the teams, who are located all over the world, to start working on their business models. I then host webinars for all of the teams on business plans and presentations. Finally, I have a second, one-on-one call with each team in the winter. Business plans are due a week before class starts, because I want the teams to have written their story and really gotten it down. The Curriculum: The weeklong class is stressful. It’s intensive, and it doesn’t look like a normal class. On the first day, students present to a group of coaches, judges, and outside mentors, and they get a lot of feedback. We handpick mentors for each team based on industry, business model, and startup experience to get them started working with outside people on their model and story. <br/>