MBA Feel Good Too!

Anyone here ever paid a consultant and they did what they did—complicated models, designs, proposals, etc.—interesting suggestions (or boring), complex ideation, and what-have-you? But out of all the things they did, they really just didn’t answer the question! Like, they all just went and got caught up in something exciting that they thought would give you added value? Or, perish the thought, they just went to check however you already did things in the past and tweaked it only just a little, then pocketed all that fees? Then they left you without even solving your problem? That’s how we ended #mba Fall Semester at Hult International Business School , an exercise in not being that consultant.

As is ingeniously customary at Hult International Business School , no block ends without a practical team challenge that integrates the learning and skills from its courses. It could be simulations, executive pitch presentations, innovation hackathons, real company challenges, designing new business models, or other similar activities, as long as the scope is based on content, themes, and skills from the block's courses. Because faculty know that students can only learn how business really is in the real world by practically experiencing how business really is in the real-world. So, what this was, was an opportunity to experience a real-world business case relative to a standard textbook case or even a Harvard case. And what was the best part? Starting from scratch, from a point of very little information, but ending up with a solid strategy that you could test, and prove, and defend. At first, it was so terrible, thinking we had been given very little data. You wished with all your might that there was more data, but such is life. Then from there, creatively applying tools, concepts, and systematic reasoning to come up with actual models and actual tangible strategies to a disguised real-world business situation that affected an international organization. That brought a lot of growth!

Let’s face it, #Harvard business cases are great; you learn and reflect a lot from them. They are written by truly excellent academicians, along with input from the CEOs, but one fundamental difference exists: with a business case, you have all the information. In the real world, however, you don’t have anything; it’s a blank sheet. So, unlike Business Challenge 1, where you were directors with perfect information competing in business against other directors, this time it was management consulting in a global context with verisimilar informational limitations. You could not be making recommendations from publicly available information; there was none. Unlike with business cases, you couldn’t go back and check out, "What later happened after this strategy was implemented?" And, oh, do MBA's love checking a strategy that was implemented in 2012, then the results, then saying, “This company went bust, so their strategy must have been horrible, therefore I recommend something different.” ??

The Business Challenge kicked off with a brief from the CEO, his burning question, on which you had to empathize with him, properly get into his shoes, and feel what was keeping him awake at night. This wasn’t at all ideation. No, you couldn’t write cost-cutting. Yes, it was the typical pressure from the board to improve profits. No, you didn't have much to play with. Key skills needed were, firstly, listening skills in understanding what the actual problem was in order to help him clarify his situational complication question. After extracting the key question, to structure the problem and agree on well-defined objectives, the in-scope and out-of-scope decision variables to meet these objectives, as well as the constraints; all the while demonstrating mastery of the marvel of marginal analysis and optimization; also, of course, skills like logical reasoning, structured thinking, problem-solving, presentation and communication; just in one stroke applying the Managerial Economics course, the Data Analysis course as well as the High Performance Teams course, where we trained to combine and apply interpersonal influence and team collaboration skills needed to be an effective leader and team member in an ethnically diverse workforce; ultimately avoiding the no-go, that horrific pitfall which traps most consultants, not answering the question of the client.

True-to-life, the CEO didn’t have time. The CEO flew out. You could not write to the CEO. You couldn’t record the CEO. Two chances with the CEO were all the meetings you ever got. The CEO wasn’t a learned man, so some of his responses were practically useless. And mid-case, the second time, the CEO actually brought feedback from a meeting with a heavily attentive regulator that threw most of our hard work away, added further complex questions, and changed the deliverables of the final problem. Did I mention that the deadline was closer? In the end, we did create the data. By specifically thinking through a structure to the problem of the CEO, we understood what data to collect or estimate, as well as what information not to consider, to allow us to solve the problem and improve the quality of our recommendations. We came up with models. We came up with recommendations. We came up with data-based proof that our strategies would work.

What an opportunity that was to learn from real-world price strategy, where you actually make strategy happen! Four transformational days. At the end, you analyzed the effectiveness of your teamwork. You ultimately learned a secret or two about optimal pricing and customer behavior. Plus, finally, you learned a little thing about yourself: that you no longer need any (technical) knowledge at all of any industry to add value; that as long as you bring the expertise you now possess in optimizing and they know their business better, it’s enough for a formidable team and a successful multimillion dollar strategy.

Again, what this also is is a milestone celebration; I have officially graduated a semester at a US business school!!?????? I have been exercised, and stretched, and grown in a number of different directions. The pace was like being asked to change to the spare tire, but on command that there was no time to park aside; just keep moving. You learned to think on your feet, refresh on your feet, and self-energize. You learned to learn in a different way, not just at your study desk but on the commute, elevator, or coffee station; otherwise, waiting to sit down was waiting too long. You learned to research, model, design, and present a high-quality paper all in less than an hour. Overall, you tapped into potentials you never knew were inside, and such validation can be the most beautiful thing you get to experience.

I am thankful to all my professors this semester: Professors Gonzalo Chavez , Renzo Casapía , Thomas Sullivan and the team at Mindflick . Thank you to our dedicated MBA Dean, Mary Dutkiewicz and Program Coordinator, Nicholas Tosatti for a truly special program. Mentions also to Professor Daniel Deneffe, Ph.D. for facilitating a special course and this second Business Challenge, and through his nearly three decades of management consulting expertise with six different top consulting companies on more than 100 consulting cases in any industry you can name, delivered skills, change, and inspiration indescribable. I can’t appreciate my colleagues in BMBA2 enough, as well as my closer-up network of friends and family. I wish you a Merry Christmas and a Happy New Year.