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How Not to Be a Bully on Your MBA Application

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Does "workplace bullying" evoke MBA stereotypes? Yes, says expert Stacy Blackman, who offers strategies to demonstrate your 21st century leadership soft skills.Earlier this month, The Guardian took a fairly in-depth look at workplace bullying and asked readers to share their stories. The results ranged from being excluded from workplace cliques to being punished by management for reporting harassment. In the past few years, it’s become clear that bullying isn't just the stuff of middle school playgrounds but a serious workplace problem. According to a CareerBuilder survey, as reported in the Guardian, "bullying included being falsely accused of mistakes, being subjected to the silent treatment, being the subject of unfair gossip or assaults on your reputation, having professional performance belittled or diminished in front of peers, and having someone steal credit for your work.” So what does this have to do with you and your MBA applications? Qualities associated with bullies—aggression, power, employing unscrupulous methods to seize or stay in control—happen to be some of the same stereotypes that people associate with MBAs. The stereotypes, even if true, won’t get you very far with the admissions committee. Candidates who come off as overly boastful and not self-aware—classic bully qualities—will raise red flags and may end up getting passed over. Here are a few things you can do in your MBA applications and interviews to ensure that you don’t appear like a potential workplace bully: workplace bullyingSpeak diplomatically about co-workers and bosses. Some of the questions posed in application essays and interviews are designed to see how you deal with setbacks. You might get asked to talk about a failed project, or about a boss or co-worker you had trouble working with. To ensure that you don’t seem like someone who assaults the reputation of co-workers or blames others for mistakes, it’s important to make sure that the focus of these stories is on you. You can acknowledge the role of others in the failure, but concentrate primarily on what you could have done differently and what you learned from the experience. Share credit for success. One of the hallmarks of workplace bullying is taking credit for others' work. To make sure that you don’t come across as someone who does this, it’s important to acknowledge the role of your teammates when discussing accomplishments and success stories. This isn’t to say that you need to go into great detail about the help you received from teammates— after all, the application is about you. But if you can talk about someone you paired well with or a team you led that went above and beyond, then the admissions committee will see that you are comfortable with shared success and are a good team player—other important qualities for gaining admission. Highlight your emotional intelligence. Admissions committees are not only interested in knowing that you’re able to get results. They’ll want to understand how you get results. While a workplace bully browbeats subordinates and co-workers into producing results, more effective leaders take the time to understand their colleagues’ motivations and ensure that everyone has a stake in the outcome. Share with the committee examples that illustrate the latter. Beware the group interview. Several top MBA programs—Wharton and the University of Michigan’s Ross School of Business among them—invite candidates to participate in a group interview. Succeeding in this setting can be a tricky balancing act. You want your ideas and opinions to be heard, yet if you constantly speak over the rest of the group, you’ll come off as a bully. Try to demonstrate your listening skills and make sure that you comment on others’ ideas as opposed to steering the discussion your own way. Many MBA candidates who seem like workplace bullies probably aren’t bullies at all. They just take an overly aggressive approach on their applications, believing that this is what the admissions committee wants to see. However, before approaching your applications, it’s a good idea to take a look at the bullying behaviors listed at the beginning of this blog post and honestly assess if you’ve ever engaged in similar actions. If so, reassessing your management style and workplace behavior should be a fundamental part of your MBA application process.    

Wharton Value Around the World

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A student travels 10,000 miles to realize the value of her undergraduate education.study abroadIn the small town in Virginia, from where I hail, when you say, “I go to the Wharton School,” you always get the polite response of, “That’s nice, business is cool, what are you studying?” In the city of Philadelphia, where I reside most of my year and now call home, when you say, “I go to the Wharton School,” you tend to get the response, “Nice! Where did you do your undergrad?” In the city of Melbourne, where I am studying on exchange for a semester, when I say, “I go to the Wharton School” I have only gotten the response, “Wow! Isn’t that a really hard and good uni?” To which I can finally respond with all the statistics I have learned about rank, average student test scores, average student incoming GPA and employment statistics from being a Wharton Ambassador. The more I share statistics like the fact that 94 percent of graduates have job offers when they leave Wharton, or that the average SAT score for a Wharton student is 1466, the more proud I become of what Wharton’s name and its marvelous network has accomplished. It is such a great feeling to go to another country and have them recognize the name Wharton. To look in my first textbook for the University of Melbourne Business School, cracked open before semester begins, and see Howard E. Mitchell, an ex-Wharton professor who has helped with the research within. [caption id="attachment_26374" align="alignright" width="400"]Wharton junior Melanie Smith enjoying her time in Australia Wharton junior Melanie Smith enjoying her exchange semester abroad in Australia[/caption] To have professors who are colleagues with Wharton professors. Such as past Wharton MBA professor Karen Jehn, who is currently a management professor at Melbourne, or Michael Smith, current econometrics professor at Melbourne and past guest professor at Wharton. To see potential for Wharton graduates to expand their companies here in the city of Melbourne. After getting away from the United States and the competition to always be the “best” business school and to have people recognize where I go to school, I have come to a realization:

I had to go 10,000 miles across the globe to finally realize what an amazing honor it is to study my undergraduate career at the Wharton School.

To learn from the top minds of our time. To network with the leaders of tomorrow. And to graduate with the esteem and honor of being a Wharton alumni. Editor’s note: This blog originally appeared on the Wharton Undergraduate Program’s Student Voices blog on Aug. 4, 2014.    

Wharton Semester Abroad Leads to Lasting Global Friendships

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A Penn undergrad returns home with the realization that nothing can replicate the experience she had as an exchange student in Beijing.Exactly one year ago today, I was en route to Beijing about to experience the most formative four months of my young adult life. I chose to dedicate one semester of my college career to studying at Peking University’s Guanghua School of Management. I arrived in China’s flourishing capital with the full expectation of gaining an educational and cultural experience. What I didn’t expect was the unforgettable connection I forged with the rest of my international exchange class. [caption id="attachment_26401" align="aligncenter" width="650"]Jiyu and friends Sara (from Sweden) and Nicole (from Emory University) near the legendary West Lake in Hangzhou. Jiyu and friends Sara (from Sweden) and Nicole (from Emory University) near the legendary West Lake in Hangzhou.[/caption] The diversity of my class mirrored the assortment of nationalities in my cohort at Wharton, but we were a relatively small group of students. The common challenge we shared of navigating this foreign landscape bonded us together in a way that transcended the institutional association of a school. That’s not to say that our academic endeavors weren’t enriching. In class, we engaged in many discussions about global business customs. I especially recall one afternoon lecture regarding professional ethics. The assigned case study told the fictional story of a man who encountered a tempting bribe opportunity, which led to a series of felonies, ranging from arson to slander to prostitution. Every member of the class then had to rank each crime by order of severity. The disparity in responses between the Asian students and the Western students surprised me. For example, the American students identified the act of arson as one of the worst because it is, from a legal and economic perspective, the most damaging. But the Chinese students believed that the arson was in part justified because the perpetrator committed it in defense of a loved one and was trying to avoid a greater evil. The two groups had different foundations for their moral beliefs that translated into how they viewed business and law. That lesson highlighted the importance of understanding cultural values when interpreting a situation. Outside the Guanghua building, my classmates and I traveled across China to witness both its tremendous modernization and its ancient artifacts. We tasted beer in the old Tsingtao factory, ate savory dim sum in Guangzhou and cruised the legendary West Lake in Hangzhou. When the sun went down, we mingled with other expatriates in the city’s bars and clubs. When classes ended in December and it was time for me to return to the States, my heart felt heavy with the realization that I would be saying goodbye to many of these people for good. While I did befriend a handful of Penn students and other Americans, some of my classmates came from Sweden, UAE and Belgium. I would continue my studies at Penn, while they would go back to their home countries to pursue graduate degrees or start families. For a moment in time and space, our paths had crossed but now they would diverge again. [caption id="attachment_26402" align="alignright" width="450"]A group photo from an Operations and Supply Chain class that Jiyu took with both international and local Chinese students. A group photo from an Operations and Supply Chain class that Jiyu took with both international and local Chinese students.[/caption] A year later, I’m happy to say that I still keep in touch with a handful of my international exchange class. The experience we shared together that fall established an impervious and lasting bond. With the help of Facebook and the ever-popular Chinese texting app WeChat, I’ve been able to communicate with my friends around the world. And this summer I had the unbelievable opportunity to reunite with two of my classmates in New York City. Hannah was a local Peking University student whom I met through the program’s buddy system. She came from Taiwan, an island not so far from my hometown of Fuzhou. Hannah was fascinated with American culture, and I was drawn to her outgoing personality. She showed me the life of a Chinese college student, and I told her of my victories and struggles in the pursuit of cultural self-identification, trying to reconcile my Chinese heritage with my American lifestyle. Back in July, Hannah came to New York as part of a fashion marketing summer intensive course. I met her in the East Village one evening for ice cream, and as we chatted, I felt as if no time had passed between us. A few weeks later, my friend Michael came to New York to visit a cousin who lived in Brooklyn. Michael is a commerce student at Queens University in Ontario, Canada. During our semester abroad, I discovered that he and I share the same intellectual curiosity about philosophy and religion. We still have random conversations about zombies and polygamy over online chat. It’s amazing how globally connected our society is today. While I’m very excited about my educational and professional prospects in the U.S., I long for another opportunity to live abroad and meet people overseas. Nothing can replicate the experience I had as an exchange student in Beijing, but if I can meet just one other person who inspires me and challenges me the way my fall 2013 class did, the international airfare will be so worthwhile.    

Tesorio’s Takeoff: 2401 Ways to Launch a Startup

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For the second summer in a row, Carlos Vega joined Wharton entrepreneurs at 2401 Walnut St. He was all business this year landing a multibillion-dollar client.Tesoro means “treasure” in Spanish, and in a nice play on words, Wharton entrepreneur Carlos Vega, C’03, WG’14, named his startup Tesorio, as it provides a data-powered “dynamic discounting” service that could be valued by people working in corporate treasury departments. We’ll take it one step further, by tying Tesorio and Vega to what might be one of Wharton’s newest treasures, the Student Life meeting space at 2401 Walnut Street. For two summers in a row, 2401 has served as a sort of incubator for MBA entrepreneurs. Vega and Zach Simkin, C’06, WG’14, then co-organizers of the Penn Founders’ Club, approached Wharton Student Life about the idea in the spring of 2013. Fourteen student startups quickly took advantage of the opportunity when it became a reality that summer. (For more details about the startups and that summer, see Vega’s Wharton Entrepreneurship blog about it, “Brotherly (and Sisterly) Love for Startups @ 2401.”) Vega was there with Tesorio; Simkin worked on 3-D printing startup (and 2014 Wharton Business Plan Competition Finalist) Senvol with co-founder Annie Wang, C’05, G’13, WG’13. [caption id="attachment_26424" align="alignright" width="250"]Carlos Vega, founder of Tesorio Carlos Vega, C’03, WG’14[/caption] Vega noticed some differences between this year’s manifestation and last year’s. For starters, the founders put up a basketball net inside 2401 last year; this year, no net. In 2014, more startups participated—18 companies and more than 50 people. This year, current MBA students were given priority for the space (although young alumni companies such as Tesorio, Olive Labs, VeryApt and RentScene also found a home there), versus last year when it was first come, first served. Whereas in year one Vega was working to get his newly founded startup off the ground—then followed it up with Wharton Entrepreneurship's Venture Initiation Program in fall 2013 and the Snider Seed Award in summer 2014—in year two at 2401, he test-piloted the Tesorio technology and sought prospects. In the process, the company has been garnering attention in the Philadelphia startup ecosystem—Tesorio’s work with Yards Brewing Co. was detailed in a Technical.ly Philly article. Its dynamic discounting technology is aimed at helping companies use excess cash to pay invoices early in exchange for discounts tailored for each supplier. “Tesorio’s proprietary algorithms arbitrage costs of capital between buyers and suppliers to design early payment discounts that represent excellent returns on cash for buyers and efficient self-financing for suppliers,” Vega explains. With this first product, Tesorio is in talks with major Philadelphia-based organizations. Vega and company just landed one of the largest hospital networks in Pennsylvania, which has accounts payable in the billions (the deal being too fresh to name names just yet). The Tesorio plan is to continue to strengthen roots locally and then expand nationally as the company rolls out new supply chain tools.   [gallery type="slideshow" link="file" ids="25493,25492,25488,25481,25477,25472,25468,25467,25466" orderby="rand"]

See more of the Wharton MBA Student Life space at 2401 Walnut St. in the photo set above.

  The idea for Tesorio came in part before Vega entered the Wharton MBA Program. In 2008, he co-founded an accounts receivable financing, or factoring, company in Panama, but he realized he “wasn’t crazy about that business” because it wasn’t a long-term or efficient solution to help small business. Vega came to Wharton to launch a firm in a different vertical in supply chain finance—with the ultimate goal of making it easier for small businesses to access cash to fuel growth. Wharton has surely helped empower him since—a fact that Vega declares for all to hear, including to that Technical.ly Philly reporter. Tesorio’s aforementioned big public client—Philly-based beer maker Yards—has a Wharton alumnus as a chief operating officer: Trevor Prichett, G’06, WG’06. Vega also points to Sam Schwartz, EE'85, WG'90, and Dominique (Basile) Izbicki, WG'11—chief business development officer and strategic development senior manager at Comcast, respectively—as local alumni who have provided guidance and support along the way (while mentioning that Comcast is overall an unheralded startup supporter in Philadelphia). “Not only has the alumni network been awesome, so have classmates,” Vega adds. In particular, he mentions Katelyn McCarthy, WG’14, a veteran of business development at IBM and Google, who shared her expertise with Tesorio last semester and all summer while she waited for her full-time, post-graduation job at McKinsey to begin. At Penn, he also met Fabio Fleitas and Armen Vardanyan, both Computer Science juniors, who interned with Tesorio through the 2014 summer, funded by Wharton Entrepreneurial Intern Fellowships. And so as to not leave anyone out, Vega also praises faculty advisers—professors Peter Fader (Frances and Pei-Yuan Chia Professor), Ethan Mollick (Edward B. and Shirley R. Shils Assistant Professor of Management) and Jeff Babin (associate professor of practice at Penn Engineering)—administrators such as Roy Rosin (chief innovation officer at Penn Medicine), as well as the staff at Wharton Entrepreneurship. Classmates and fellow Wharton entrepreneurs surely would return the shout-out to the Founders’ Club (and Simkin and Vega) for the idea to turn 2401 into a summer startup haven. Editor’s note: The Wharton Entrepreneurship blog recently posted another student’s perspective on 2401. Be sure to read: “The Summer Startup Experience at 2401 Walnut.”    

A Guide on Career Networking for Wharton Students

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A Wharton sophomore explains how his peers can build their “ladder to the sky.” Alumni, do you agree with his approach?career networking for studentsMy purpose in writing this post is to clarify a common misconception regarding the forging, maintaining and utilizing of professional contacts. I often hear students speak with pessimism about not having family contacts in their industry of interest or being reluctant to cold call firms. In my freshman year at Wharton, I forged, maintained and utilized connections that I've used since. You may know someone through family or friends. In that case, consider yourself short-term lucky. That person may be your key to a summer internship after freshman year, but one cannot rely solely on such contacts for the long term. It is essential that students begin reaching out to complete strangers as first-semester freshmen. In doing so, it is unnecessary to have a specific goal in mind; in fact, industry leaders often feel honored when students seek general advice and show interest in their work. Just as you are excited to establish contact with the CEO of a Fortune 500 company, he or she may be just as eager to talk to you. Many of the world’s most brilliant minds come to speak at Penn because they want to inspire the next generation of leaders—some of whom may become their own successors. A great way to forge contacts is to become involved in campus clubs and organizations that plan speaker events and visits to companies. During Wharton Clubbing Night, find out which organizations have committees devoted to event planning and corporate outreach. As a member of the Wharton Management Club, I worked on a committee that brought in the world’s leading entrepreneurs, executives, architects and restaurateurs. I’m also a member of the Wharton Real Estate Club “Treks” Committee, through which I plan trips to leading developers, property managers and real estate investment firms all around the country. Now let’s talk about maintaining contacts. My biggest piece of advice is that one can never revise an email too many times. The manner in which you follow up with people will significantly influence their perception of you. Try to gauge peoples’ personalities and make your emails fit them. For instance, if someone is clearly very busy and down-to-business, to-the-point emails will be better received. On the contrary, longer, more passionate emails work better when corresponding with passionate, energetic individuals. How to follow up is a judgment call you’ll have to make, but two things are for certain: follow up with people and express gratitude. So imagine that you’ve established a relationship with the CEO of your dreams. You may be thinking a lot about how that contact can help you, but you will have greater success if you change your mindset. Do extensive research on a particular aspect of that CEO’s career that is most interesting to you. Study his or her background like you will be tested on it. Upon doing this, you will have everything you need to make the conversation about them, not you. Once you are knowledgeable about this person’s background, it is appropriate to ask for any help he or she may be able to provide in finding early work opportunities similar to those that served as the building blocks of their own career. Ask for help securing a “learning experience” rather than a “job.” Say how much you admire their path rather than how eager you are to shape your own. Always remember that you have the power to establish invaluable relationships. You never know where they will take you. At Wharton, there is no upward boundary to achievement outside the classroom. Consider your professional network the ladder to the sky. Editor’s note: This post originally appeared on the Wharton Undergraduate Program’s Student Voices blog on Aug. 22, 2014.    

Uncovering the History of a Wharton MBA-Inspired Bank

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Undergrad students stayed on campus this summer to take courses, work with professors or—in the case of a select few—run a a bank. We tell their story.We could use your help. We’re trying to flesh out the history of the Student Federal Credit Union (SFCU) at the University of Pennsylvania, for it remains a bit fuzzy. In 1987, three MBA students founded it. To this day, the credit union is one of only two run entirely by students. It’s the first and only one in the Ivy League. (The other is at Georgetown University.) [caption id="attachment_26434" align="aligncenter" width="650"]Kevin Cong, Wendy Cheng, Alice Shen, Zhenhao Li and Kevin Wu ran the Student Federal Credit Union at the University of Pennsylvania this summer.Penn undergrads Kevin Cong, Wendy Cheng, Alice Shen, Zhenhao Li and Kevin Wu ran the Student Federal Credit Union at the University of Pennsylvania this summer.[/caption] In Penn’s case, undergrads man the tellers at its location on 34th and Walnut streets. They make decisions on loans, and ensure the bank meets regulatory strictures and maintain in good standing with the National Credit Union Administration. As many as 80 students work at the bank during the school year, servicing as many as 1,300 customers. “We’ve run it pretty successfully as of now,” reports sophomore Alice Shen, who served on the skeletal staff of five between school years as summer manager. “Being completely student run doesn’t detract from it in any way.” As a freshman in search of extracurricular activities, Shen was turned on to the credit union by a friend who told her she could gain real-world experience. She spent her first semester—like everyone’s first semester at the bank—as an intern and teller. She worked three hours a week, not including the one-hour weekly staff meeting she attended. In her second semester she moved up to become a loan analyst. Now into her second school year, Shen will serve on the committee level as assistant director of collections and a loan officer. Shen pauses when asked what she has learned from the experience because it’s been a complete eye-opener for her about banking. She has come to grasp how and why a bank invests, how it analyzes fee structures, as well as how banks face the varying challenges brought to it each day by customers. Students can move from day-to-day positions to higher leadership roles in finance, credit, operations, marketing, information systems and the credit union’s other divisions. The top of the organization is comprised of a CEO and a chairman of the board—respectively, Wharton seniors Mihir Jain and Akshay Almelkar—as well as a chief financial officer, chief operating officer, several vice presidents and four core committees (credit, operations, general ledger and supervisory). This leadership oversees the day-to-day existence of the bank along with the long-term projects needed to maintain the bank’s financial viability. Shen appreciated that these senior bank leaders, and Penn upperclassman, make themselves available to provide advice and mentorship. From the alumni testimonials on the SFCU website, we can easily learn of a few young alumni who worked at the bank—and who continue to assist by coming back for talks and to serve as network connections for students and other alumni. This list includes: Bryan Yasukochi, W'13, former SFCU chairman and now an investment banking analyst at Credit Suisse; Dharmin Desai, W'13, former SFCU CEO and now an investment banking analyst at Goldman Sachs; and Suruchi Srikanth, W'12, former SFCU vice president of marketing and now an associate consultant at Bain & Co. We would love assistance with getting connected with older alumni who worked at SFCU—and even the original three founders. Shen recalls working the SFCU booth at Penn Alumni Weekend 2014, when an alum approached and told her he had been a founding member of the bank. She didn’t catch the person’s name. Was it you? Do you have a story to share from your time working at the Student Federal Credit Union at the University of Pennsylvania? Let us know in the comments section below.    

Wharton Global Education in Action

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An Executive MBA student shares eight lessons that he learned during a Wharton Global Modular Course in Japan.[caption id="attachment_26444" align="aligncenter" width="650"]Photo credits: Raj Bharti Photo credits: Raj Bharti[/caption] The Land of the Rising Sun is full of contrasts. While technology is advancing at the speed of a bullet train, life can still be as serene as a Zen garden. A Global Modular Course (GMC) at the Wharton School took me to Tokyo, Kyoto, Osaka and Kobe, and here are a few observations from my intensive visit.

1. Automate, Automate, Automate

Japanese companies are obsessed with automation – they strive to capture every opportunity where robots can replace humans. Eliminating waste (Muda) through the process of continuous improvements (Kaizen), and acknowledging your own mistakes and pledging to improvement (Hansei) are the key mantras across most corporations. I witnessed heavy use of Automated Guided Vehicles (AGVs) in Nissan and Daikin factories while Panasonic leveraged an army of smart robots in manufacturing its Toughbooks. Vending machines welcome you at street corners selling a plethora of products, so dehydration cannot be excused! Bharti2

"Don't be afraid to make a mistake. but make sure you don't make the same mistake twice." —Akio Morita, Sony Corp.

2. A Clean, Courteous, and Punctual Society

The cities and towns of Japan are remarkably clean. From factories to streets and from restaurants to temples, it is hard to find garbage, graffiti, or abused public infrastructure anywhere, even though garbage cans are almost nowhere to be found. Smart, hardworking and very accomplished, the Japanese have not forgotten their humility. Our hosts bowed on arrivals and departures, and they kept waiving their hands until our bus disappeared. Punctuality is both expected and respected. The average delay for bullet trains is around 30 seconds—how should I name it—punctuality or reliability?Bharti3

3. A Leader of Trailblazing Technologies

Japanese companies have not only innovated in the past, but they also are continuing the tradition of innovation with the changing times. Sony Walkmans may be outdated, but a visit to the Akihabara neighborhood of Tokyo highlights the Japanese’s love for gadgets and how these cool tools have evolved so quickly. Aeon has elevated the shopping experience to another level by introducing Family Malls for children and Pet Malls for the kitty, fido and fish, where your pets can have “water therapy” if they are suffering from any depression or despair. Bharti4

"Japan's very interesting. Some people think it copies things. I don't think that anymore. I think what they do is reinvent things. They will get something that's already been invented and study it until they thoroughly understand it. In some cases, they understand it better than the original inventor." —Steve Jobs, Apple Inc.

4. Freshness has a Different Description in Nippon

Who doesn’t love fresh food? However, freshness has a more stringent definition in Japan. I learned from a senior Aeon executive that their facilities start preparing fresh food at 12:01 a.m., kick off packaging within a couple of hours and head to the retail stores after 4:00 a.m., where the fish and sushi products are on the shelves waiting for customers before 6:00 a.m. Many of these delicacies are considered stale by the afternoon.Bharti5

5. Sophisticated Safety Standards

A higher sense for safety and discipline is in the air—from factory workers following the rules, to the absence of jaywalking on the streets, to civilized entries and exits on the trains and planes. At train stations, tracks are protected by retaining walls and automatic doors that open on the arrival of a train and shut after its departure—so unlike the subways of New York City, no falling down on the tracks of Tokyo!Bharti6

6. Integration of Seniors and Retired Personnel

Japan has the highest proportion of elderly citizens in the world with over 23 percent of the population above the age of 65, primarily attributed to a combination of low fertility and high life expectancy. The nation has not abandoned these veterans; rather, it has made efforts to seamlessly integrate them into the mainstream. One of our hosts at Daikin was an 82-year old former employee, currently working part-time, who served the company for over two decades. This group has so much potential to contribute, so why let such an experienced talent pool go unused?Bharti7

7. Japanese Toilets will Amaze You!

Commodes have been elevated to an art form with a strong scientific backbone. Many toilets are automated and offer warm seating, touch-free seat movement, and some even play music while you do your business. They spray warm or cold water in multiple directions for a meticulous cleaning, and finally blow warm air to dry your rear or front. Bharti8

"Always ask: Will this make the customer happy?" —Konosuke Matsushita, Panasonic Corp.

8. Space Optimization is in the Japanese DNA

Are you an architect seeking space optimization or an engineer starving for efficiencies? Drop everything and head to Nippon to study how to efficiently and effectively use real estate or any other space, for that matter. In homes, factories, hotels and everywhere else, no space is wasted. Beds can fold against walls, buses have folding seats in the middle isle maximizing space utilization, parking lots are stackable, tiny yet practical in-wall washbasins are common in restaurants, and many home toilets have an integrated sink at the top to wash your hands requiring less space and resulting in no wastewater. Bharti9

"Instead of being afraid of the challenge and failure, be afraid of avoiding the challenge and doing nothing." —Soichiro Honda, Honda Motor Co.

Sayonara ...

How many countries can afford to recover from the atomic bombings of two prominent metropolises like Hiroshima and Nagasaki, and still become world leaders with their perseverance and unimaginable hard work? A nation sitting on the Pacific Ring of Fire, once again, exemplified the same spirit after the 2011 disasters of Fukushima and Tōhoku by revitalizing its communities and commerce. Japan is very resilient and it has a lot more to offer than what is described in this short article. While Tokyo is the poster child of modern-day Japan, Kyoto showcases its legendary traditions, so a visit to Nippon must include these two capitals—the modern and the ancient. Editor’s note: This post originally appeared on LinkedIn on July 31, 2014.    

Photo Set: Wharton New Student Orientation

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We captured some of the fun during New Student Orientation, when first-year undergrads connect with classmates and officially launch their Wharton experience.Incoming Wharton Undergraduate freshman are introduced to the School with an all-day series of events called New Student Orientation (NSO). It begins with a welcome from administrators and student leaders. Students join their respective cohorts to attend presentations on academics and student life and then enjoy a lunch during which they can settle in to their new surroundings and get to know each other. We captured some of the fun during Wharton NSO 2014 on August 26, including some candid photographs of welcome lunches, followed by the outdoor event known as "Tuesday Takeover." On Koo Plaza in Huntsman Hall, first-year Wharton undergrads enjoyed carnival games, ate tasty Philly treats like water ice and socialized some more with their classmates.   [gallery type="slideshow" link="file" ids="26476,26477,26478,26479,26480,26481,26482,26483,26484,26485,26486,26487,26488,26489,26490,26491,26492,26493,26494,26495,26496,26497,26498,26499,26500,26501,26502,26503"]    

Two Wharton Alumni Sell the Alternative Business Career Path

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Approach future jobs with intensity and “butterflies in your stomach,” whether in tech or entrepreneurship, Maria Baum and Shahbaz Alam tell Wharton students.[caption id="attachment_26543" align="aligncenter" width="650"]Members of the Wharton Alumni Relations Council and alumni speakers met before Alumni Colloquia kicked off. Maria Baum, WG’94 (in white dress) and Shahbaz Alam, W'07 (in gray suit and pink shirt) are front and center. Members of the Wharton Alumni Relations Council and alumni speakers met before Alumni Colloquia kicked off. Maria Baum, WG’94 (in white dress) and Shahbaz Alam, W'07 (in gray suit and pink shirt) are front and center.[/caption] They walk on career paths currently in completely separate career spheres, at different points of personal and professional development. Maria Baum, WG’94, had been a star derivatives trader on Wall Street when she and her husband decided to retire in their 30s. They moved to the Hamptons, then became serial entrepreneurs to the point where Baum’s busier than she ever was in Manhattan. Shahbaz Alam, W’07, worked his way through jobs at Penn and PwC to join the Professional Services arm of Amazon Web Services. Despite their differences, both brought the message to current Wharton undergraduate students that a career outside of finance or consulting is not only possible—but attractive. Baum’s alternative career path began after 10 years as a Wall Street derivatives trader. She and her husband felt they wanted more from life. “Usually, one of you talks the other off the cliff,” she quipped. In this case, they both took the leap in 2004 and moved to the beach. Retirement, as Baum tells it, lasted two weeks. “I was definitely not a have-lunch, play-tennis person,” she admitted. This realization launched a series of endeavors, from private wealth investing to real estate, financial services recruitment to restaurateur, venture capitalism to philanthropy. (For her philanthropy work, see the Wharton Magazine article about the Hamptons Paddle & Party for Pink.) An interesting note about all of these entrepreneurial pursuits is that Baum has chosen and led them always with the rigorous, analytical mindset that she sharpened at Wharton and then in finance. With that in mind, she offered a number of “trading floor” lessons for fellow Wharton entrepreneurs:

• Search constantly for value.

• Act quickly when opportunity presents itself.

• Know your exit when you enter.

• Cut losses and move on when necessary.

• Consider the risk/reward profile—“the king of everything,” Baum said.

She lives by these rules as every day, she struggles with the sheer number of opportunities that present themselves to her. She must know which opportunities are worth her time, which she needs to block out. For Wharton students, opportunity number one may be in the technology business. This is where Alam’s viewpoint could prove valuable, which can be summed up by a Pablo Picasso quote: “Computers are useless. They can only give you answers.” The point: You need humans to come up with the questions, and humans to help interpret the answers into action. Business school students should be encouraged about getting a job in the rapidly expanding, global world of the technology industry. It is a fallacy, Alam stressed, that someone needs a “hard core” engineering or programming degree to enter the field. From his perspective in the technology industry, professionals with business degrees are best suited to do that kind of creative, analytical work. And the work is needed, he said. The trends of SMAC—social, mobile, analytics and cloud—will drive the “next wave of disruption” in business. “There’s a very big need for business functionality at tech companies,” Alam told an audience of undergrads, whether that functionality involves marketing, operations and supply chain, or finance, for instance. Whatever career path that students choose, they would be wise to keep in mind one of Baum’s closing remarks: “Always have butterflies in your stomach,” she said, meaning that we need that everyday excitement, creativity and passion about what we are doing in order to succeed and be happy at it. Baum and Alam were guest speakers on Sept. 5, 2014, during the Wharton Alumni Colloquia series, a program sponsored by the Wharton Undergraduate Division and the student-run Wharton Alumni Relations Council in which alumni return to campus to present to undergraduate students. Also giving talks that day were Steven Yanis, W’85 (on hedge funds); Wendy Silverstein, W’82, WG’86 (on real estate); Susan Weil, W’84, and Terri Wein, W’84, WG’88 (on careers); and Andrew Stern, W’10 (on job searches).  

Watch Stern present during the 2014 Wharton Alumni Colloquia on “The New Job Search: Linking Company Mission to Personal Meaning.” Stern works on the Leadership, Learning and Organizational Development team at Bloomberg LP in New York.

   

Meet a Microfinance-Minded Penn Student Leader

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Penn senior Saloni Gupta followed her passion, which was to give early and often. Her lending work has only just begun. Penn senior Saloni Gupta, a student leader at microfinance star KivaSaloni Gupta was introduced to microfinance through her high school’s social impact club in San Jose, Calif., and as she remembers it, she was so enthused with the idea that she went to her parents to donate some money. “Give how much money to whom?” was their response to paraphrase it. They declined. Gupta felt strongly enough about loaning to entrepreneurs around the world to raise her own money—dipping into her savings, as well as earning cash through her own handicrafts business. She recalls her first investment well—a microloan to a woman in Ghana, who used it to buy flour for her bakery. Since 2010, Gupta has made over 400 loans through the same microfinance platform, Kiva. She’s never added any more money into her “pot”; when repayments come in from the lendees, she always just gives out new loans—in increments of a few dollars up to $1,000. “It creates this perpetual cycle of giving,” she says. Since, Gupta has also gotten more involved with Kiva beyond just being a lender. Her next step began, like her first step into microfinance, with her taking the initiative.  As a 16-year-old junior in high school in 2010, she decided to drop in on a Kiva event in San Francisco, and she so impressed the staff that they offered her an internship. She continued working with Kiva through her senior year, focusing on helping to bring the organization’s microfinance concept into more classrooms and communities. Kiva institutionalized microfinance educational materials for teaching curricula, club toolkits and educational videos—programs that Gupta had helped expand as an intern. The programs helped to form the basis of what’s now called Kiva U. Gupta serves on the Kiva U advisory board, along with other students and teachers from around the country. Since coming to Wharton in 2011, she has informally assisted Kiva in piloting the program, promoting it through media outreach and community speaking events. The result is a formal platform that allows school and neighborhood based microfinance clubs to communicate with one another and with Kiva. Since its launch in August 2013, Kiva U has expanded to nearly 60 high schools and 67 college campuses across the U.S.—and in the process has become a teaching tool for social science, personal finance and self-reliance. The effort adds up to a total of 21,000 members and 66,000 microloans worth $4.8 million. This does not include an additional $450,000 contribution made by Citi Community Development and Microfinance to support Kiva U itself. Now a senior at Wharton and president of Penn’s Microfinance Club, Gupta does not say that her work is done. “It’s something that I’ve been passionate about for a long time,” she says. After graduation, she will take a job in New York City with Centerview Partners, an M&A advisory firm, but she will learn the business of finance with the long-term goal of working in microfinance. She’ll build off her experiences at Kiva (where she still serves on the advisory board) and off her social impact knowledge gained at Wharton (such as from the Strategies for Economic Inclusion course taught by Marks-Darivoff Family Professor Keith Weigelt). And, surely, she will continue lending to female entrepreneurs around the world. Editor’s note: We did not contact Gupta’s parents to confirm or deny their initial skepticism of crowdfunding.    

The Power of Wharton Student Group Projects

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At Wharton, students learn the importance of working in teams from day one. This undergrad didn’t realize how special it is until she studied in Australia.So you hear that one of your Wharton classes entails a group project this semester, and you don’t think about it for more than a moment. Of course, you have group projects with your classes. It is kind of a given, seeing as most of your classes at least have an element of group work, right? At Wharton, we are taught the importance of working in teams and groups from day one. I mean, do you remember your first experience in Management 100? You were given a group from the first day of class, were required to get to know each other and work together with a local nonprofit or club. [caption id="attachment_26570" align="aligncenter" width="650"]Wharton Management 100 Melanie's Management 100 team[/caption] It is something that is normal. Everyone works together and helps each other; the scary-competitive vibe that Wharton gives is manageable since everyone is helping each other. All of this is to say group work has become the integral fabric in my suit that is being tailored while at Wharton. (For those of you in the Class of 2017 and older, you may get this reference from former Vice Dean Georgette Chapman Phillips; if not, don’t worry and just take it for the beautiful metaphor it is!) In Organisational Behaviour (yes, it is spelled differently in Australia), on the first day when we saw our syllabus, people were shocked that there was a group project that was 40 percent of our grade. It was a source of worry, of stress and dread, this group project. For me, I just saw it and moved on. I didn’t think twice about it. For the first three weeks of class, it was stressed that all students must attend tutorial on the third week because that was the week we would be assigned our groups. My thoughts were as follows: One, “Of course I am going to class.” Two, “Why is everyone seeming like this is such a big deal? It’s just a group project.” The dreadful day finally came: Thursday Tutorial in Week 3. The day where everyone tried to avoid eye contact and class participation was at a minimum. No one seemed to want to make himself or herself known, as if acting like you weren’t there would mean you wouldn’t have to be assigned a group. Coming from the outside, I just thought this was awkward. And silly. Tom, my awesome tutor, waited until the end of class to assign these groups. It was then stated that we had to have a team contract submitted in less than a week. Now, if I thought everyone was crazy, silly and stressed about merely being assigned a group, I was naïve. The tension in the air grew exponentially as people realized they actually had to work with each other! From the outside, I found this whole exchange laughable. It was later that I asked my group why it seemed that everyone was reacting in this dramatic way to group work. Every single one of their responses was: “We have never worked in teams for a grade before.” This class is a second year (they only have three years here), second semester class, and not a single one of my four other group members had ever worked in a class group or done a team project! I was baffled. It made me realize how great Wharton is to show us from early on how practical and important it is to know how to work with others and how crucial collaboration is. I am blessed to share my experience and knowledge of group work with my fellow Melbournians!

Editor’s note: Wharton junior Melanie Smith is enjoying an exchange semester abroad in Australia. Read more about it in her first dispatch from Down Under: “Wharton Value Around the World.”

This blog originally appeared on the Wharton Undergraduate Program’s Student Voices blog on Sept. 19, 2014.  

Fond Memories of My Wharton Liberal Arts Education

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An alumnus recalls coming to Wharton with the goal of becoming an accountant, only to leave wanting to be a doctor. [caption id="attachment_26572" align="aligncenter" width="650"]Penn's campus in the 1970s Penn's campus in the 1970s (Hey Day 1976 to be exact). Photo credit: University Archives Digital Image Collection.[/caption] How many of my generation heard this advice from their parents, “Make sure you have a profession, that no matter where you go, you can hang a shingle and make a living.” Grandchildren of the depression, teenagers of 1970s stagflation, we were told to prepare for adulthood by attaching magic letters to our names: DDS, JD, MD, CPA. [caption id="attachment_26573" align="alignright" width="161"]Prof. Digby Baltzell, W’39 Prof. Digby Baltzell, W’39. Photo credit: University Archives Digital Image Collection.[/caption] So in 1977, I drove down Interstate 95 to major in accounting at Wharton. The relationship between the University of Pennsylvania and the Wharton School was a little vague to me. (During my interview I asked if Wharton fielded its own athletic teams.) But I sought a secure future and having been told that the Big 8 firms (whatever they were) all recruited there and, more importantly, that my cousin Kenny had gone to Wharton and done very well I ventured into West Philadelphia. To study business. In addition to accounting, the curriculum included economics, finance, management, marketing and business law. There were the business-related courses in statistics, as well as something called decision sciences. These courses were interesting and useful. Then there were the requirements in freshman English, calculus and a semester of computer sciences. These courses were interesting and necessary. [caption id="attachment_26574" align="alignleft" width="300"]Prof. Drew Faust Prof. Drew Faust. Photo credit: University Archives Digital Image Collection.[/caption] And then, there were a bunch of electives. These courses were … magic. Where do I start? With sociology professor Digby Baltzell, W’39, and his class Social Stratification, I “met” Alexis de Toqueville and gained an intuitive sense for the foundations of a stable society. Maybe with Nora Magid, who—in a course on advanced expository writing—taught me to remove adverbs and adjectives, convert the passive to the active voice and reminded me never to forget that you can lose your reader with a single incongruous image. Plus, she arranged for me to spend an office hour with Philip Roth. [caption id="attachment_26575" align="alignright" width="161"]Prof. Aron Katsenelinboigen. Photo credit: Wikimedia Commons. Prof. Aron Katsenelinboigen. Photo credit: Wikimedia Commons.[/caption] Or with Marc Blitz, who during Ancient and Medieval Political Philosophy said, “Equality is relative. No one likes it when the mayor cuts to the front of the line at the best restaurant in town. But, then again, no one wants to be seated behind a group of bovine philistines at the opera.” Or with Drew Faust’s course American Civilization: The South, which painted such a vivid picture of Reconstruction that I felt as if I had lived through it. Just as Aron Katsenelinboigen had done with Soviet Economic History when he was a professor in the Economics Department Not to mention the biology, physics, and inorganic and organic chemistry professors, who let me cobble together a senior year premed concentration, that landed me not at Price Waterhouse, but at Penn Med, grateful for the fantastic liberal arts education that I had not known was waiting for me. At Wharton.    

What Peter Thiel Means to Wharton Undergrads

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The celebrity entrepreneur and investor can serve as inspiration to anyone who's starting to think about what they offer the world, like this Penn undergrad. What is Peter Thiel, the man who pays innovative college students to abandon their degrees and pursue their own ventures, doing speaking at Wharton? A lot of good, it turns out. [caption id="attachment_26617" align="aligncenter" width="504"]Peter Thiel at the Wharton School Photo credit: Wharton Leadership Program Flickr[/caption] The author of Zero to One: Notes on Startups, or How to Build the Future, opened his recent speech at Penn by tackling the big question in his book title: How do we get “zero to one” moments? That is to say moments that lead us from an idea to a success. Thiel’s response provoked questions for each individual listening to him in the Zellerbach Theater at Annenberg: What do you have to offer, and how can you make it a part of a market? What is it about what you’re selling that makes it desirable to consumers? Although most of the people in the room were surely interested in how Thiel became such a successful entrepreneur and investor—he co-founded PayPal and, in 2004, became the first outside investor in Facebook—Thiel made it clear from the start that experiments cannot be re-run. Thiel could not say whether he would have done anything differently if he had to do it over because it would simply not be the same situation. This stood out to me as a truth, as a junior who is constantly asking, “So how did you end up at Job X?” Nobody I have ever asked has given me the same answer as the person before them.  

Watch Peter Thiel’s presentation to more than 1,000 Penn students, staff and faculty, followed by a Q&A with Wharton Management Professor and The Class of 1965 Chair Adam Grant.

  Rather than expounding on the details of his own successes, Thiel helped us in the audience better understand their own paths. He made it clear that education cannot be a substitute for clearly thinking through what you want to do. Otherwise, we end up in default jobs, like consulting. There is no one right way to do something—it only matters that you think it through and devote yourself entirely to making it work. What great company is nobody out there building? If you left the market, could someone quickly replace you, or are you indispensable? Whether in the entrepreneurship game or entering the job market as a recent graduate (a case that hits a little too close to home for some of us), it is always a good idea to consider what it is that we have to offer. We may dread the interview process of OCR, but Thiel trumps even our worst nightmares: In his interviews, he revealed, he asks people to tell him something that nobody agrees with, which Thiel uses as a start to get at the person’s potential. Peter Thiel at Wharton“This is something uncomfortable to do; we are shorter on courage than we are on genius. There is no shortage of good ideas, but people play it too safe with their ideas,” he said. With a lifetime of experience and a wealth of knowledge to share, Thiel fits easily into the ranks of model entrepreneurs upon which aspiring innovators model themselves. He can also serve simply as an inspiration to anyone who has to start thinking about what they have to offer to the world. Thiel came to campus on Sept. 22 as part of Authors@Wharton Speaker Series, sponsored by the Wharton Leadership Program.    

Regions: EMEA

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Ays Sharaev has a front-line view of the current Russian business environment. What's that like? 

Student Spotlight: Ays Sharaev

  Ays Sharaev has a front-line view of the current Russian business environment. The managing partner at Waarde Capital in Moscow, which funds venture and established companies in fast-growing markets, Sharaev possesses over 10 years of private equity and project management/finance experience. Despite this background, or because of it perhaps, he entered into the Wharton MBA for Executives (EMBA) program. Wharton Magazine asked him why, as well as a few other questions. WHARTON MAGAZINE: Tell us what you do in in the private equity/VC space.[caption id="attachment_26720" align="alignright" width="200"]Wharton WEMBA student Ays Sharaev[/caption] AYS SHARAEV: We have two venture funds and one private equity (PE). We’re trying to invest globally (Russia, Europe, U.S., Israel and Asia). I am a partner of the general partner (GP), and we also act as limited partner (LP) in some of our funds. WM: What is the business climate like in Russia, given all that’s happened? SHARAEV: Decent. There are still many opportunities. Especially today. We are now in a process of establishing a fourth venture fund, which will be fully dedicated only on the Russian region. WM: Do you find companies/investors outside of Russia are less likely to work with you given the geopolitics? SHARAEV: Frankly, I do not feel any difference in attitude toward us from companies or VCs or PEs. We are not too big to be concerned by politics, especially geopolitics. All our Western and Asian partners are experienced people with common sense. They do understand what is going on, so they are very patient with us. WM: Why commute to the Wharton EMBA program every other week? SHARAEV: Because Wharton was always my dream. I didn’t want to be associated with other schools. Only Wharton. Today, I can’t be out of business for two years, and my life and business are mainly in Russia. For that reason, I think the EMBA is the best solution for me. Small class. Experienced people. And a lot of fun, especially when balancing between work, study and family. WM: Do you have a secret habit or practice that helps you survive the long commute? SHARAEV: Just live in the airport or plane like those places are usual parts of your life (work, study, eat, sleep, watch TV, send emails, etc.).    

Regions: Latin America

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A Wharton Global Immersion Program trip exposes Wharton MBA students to the business cultures, and alumni, of Latin America. 

Latin America Immersion Course Well Timed

  Seventeen MBA students traveled to South America for an intense, two-week visit with stops in Brazil, Argentina and Peru in May 2014. They were accompanied by Daniel Gottlieb, a Wharton assistant professor of business economics and public policy and a native Brazilian, to provide insights into regional customs on this Wharton Global Immersion Program (GIP) trip. [caption id="attachment_26718" align="alignright" width="202"]Global Immersion Program Photo credit: Brandon Hoffman[/caption] The students met with local business leaders and government officials from a broad range of organizations, including the Brazilian Central Bank, the Rio 2016 Olympic Organizing Committee and Peru-based private equity firm Nexus Group. Prominent alumni gave their time too, such as Federico Weil, WG’00, president and CEO of residential builder TGLT; José Raimundo Morales Dasso, WG’70, vice chairman of Credicorp, Peru’s largest financial services holding company; and Marcos Galperin, W’94, co-founder and CEO of e-commerce giant Mercado Libre Inc. The alumni provided insight into markets and Latin America’s current favorable growth environment. One GIP highlight was a tour of the Natura Cosméticos factory in São Paulo. The students were surprised that the company provided so many employee amenities onsite—more akin to a high-tech Google campus. While this cohort’s journey was specific to one region, the lessons learned about navigating a foreign culture can be applied anywhere in the world. Second-year MBA student Brandon Hoffman, a California native whose prior experience includes teaching English to children in China, embraced the exposure to another part of the world. “I could see how the cultures of the various countries strongly correlated to the success and trends of its economy. If you want to do business overseas, you really need to go there, interact with the locals and learn the culture,” Hoffman says. Exposing students to a different culture is the purpose of GIP, an elective management course that combines challenging coursework, lectures and a rigorous journey abroad. “The goal of GIP is to provide students with a high-level survey of the economic, cultural and geopolitical drivers affecting regions important to the global economy,” says Amy Miller, the associate director of Wharton’s Global Immersion Programs. The School consistently seeks emerging areas of the global economy for future GIPs. For the upcoming academic year, students can participate in GIPs to India, the Middle East, Southeast Asia, China/Korea and South America. —Michael Milne, WG’86    

EMBA 40: A Class United

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East and West Coast members of the historic Wharton MBA for Executives Class 40 celebrated together, with a surprise guest.East and West Coast members of the historic Wharton MBA for Executives Class 40 celebrated together in Philadelphia in August. In the sea of red (the photo was taken at a Philadelphia Phillies baseball game), one might be able to make out the blue Wharton T-shirt of Dean Geoffrey Garrett. 9a.WEMBAphoto  

Put Me In, Coach

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An update, including student testimonials, on the popular Wharton Executive Coaching and Feedback Program.An update, including student testimonials, on the popular Wharton Executive Coaching and Feedback Program. [caption id="attachment_26714" align="alignright" width="385"]Wharton Leadership Program Illustration credit: Gwen Kerval[/caption] Three days after serving eight years in the U.S. Army, Mike Daschle, WG’14, started his Wharton career with a desire to focus on real estate development. This “drastic culture change” was one reason the then-MBA student opted to participate in the Wharton Executive Coaching and Feedback Program (ECFP). “I recognized it was a very unique opportunity to have a personal coach who could guide me through a very transitional period in my life,” says Daschle, who graduated from West Point and served in Iraq in 2006 and Afghanistan in 2008 and 2009. He and his coach focused on more boldly and effectively communicating Daschle’s passion for his desired career, while also paying attention to time management and stress-reduction skills. The program involved role-playing and at-home exercises, including creating a list of character traits that Daschle admired and discussing how such traits are exhibited. Rolled out in 2012 as part of the new MBA curriculum, the program has drawn many more students than originally anticipated, reports its director, Lynn Krage, who screened the 50 or so executive coaches matched up with students. The initial student demand forecast was 350, Krage says; instead, more than 500 students signed up that first year. This year, nearly 600 enrolled.  

Watch a one-on-one Wharton Executive Coaching and Feedback Program session in the video above.

  MBA students begin the program with a 360-degree feedback assessment, followed by individual sessions throughout their first year. One more session occurs in the fall of their second year. “This is a leadership development tool that most companies don’t offer until you are at the executive level,” Krage says. New York-based executive coach and now Wharton MBA student coach Terri Wein, W’84, WG’88, agrees. Such coaching usually is too expensive for anyone but “high-potential employees.” At Wharton, it’s a valuable tool students can take with them when they leave campus. “It’s my job as a coach to work with each student not only to identify his/her areas of development to become a better leader, but how to effectively bring out the best in each of them,” she says. Second-year MBA student Rena Fried particularly values the work on her body language and presence in meetings, which is meant to correct the misperception that she is not engaged. “I was able to turn that around, and I felt there was a real change,” she says. “The coaching program is a huge distinguishing factor for me that differentiates Wharton from the other major schools,” says Andrew Towne, who’s earning a dual degree from Wharton and the Penn Law School. “Perhaps the biggest reason I participated was the fundamental belief that leadership is learned and not innate—that the best way to learn leadership is through study, practice and refinement just like you would learn a sport or an academic subject,” he says. ECFP is part of the Wharton Leadership Program, which has experienced its own benefit from the program. “Our workshops focus on a particular leadership skill or set of skills—such as emotional intelligence, influence and communications—and we’ve found that the momentum being built around focused personal development within ECFP is driving more participation in the workshops—a great outcome,” says Jeff Klein, WG’05, executive director of the Wharton Leadership Program. —Anne Freedman    

Faculty Essay: A Marketing Class for the Ages

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Wharton Professor Peter Fader recollects one of the best, if not the best, Marketing 212 class of his career.By Peter Fader   My daughter Shayna is a senior at the College and is taking Marketing Research (MKTG 212) this fall. That was the first course I taught at Wharton when I joined the faculty back in 1987. This realization has made me nostalgic for those old days. Many great students have come through my Wharton classrooms, but no single group of them could compare to the MKTG 212 students I had in 1991. They are now like a who’s who of Wharton alumni. I am very proud of my association with that class, yet I wondered if they are aware of just how incredibly accomplished many of them have been since graduating. This thought led me to propose a “where are they now” profile. I brought this idea to Wharton Magazine, and they were happy to support my quest. In preparing for the essay, I reached out to several members of that class. In so doing, what I realized was that MKTG 212 is a convenient point of connection, a starting point to a set of broader conversations about their Wharton experiences as a whole and how these experiences have shaped the successes they have enjoyed since then. Perhaps their most engaging, and intriguing, responses to my inquiry had to do with them wrapping their heads around whether they were even a special class—and if so, why? One strain of their thinking is that it wasn’t necessarily them, it was their timing. “The macro market was hot, and we kind of hit it at the right time,” is how serial entrepreneur Scott Hintz, W’93, put it. When the dot-com bubble burst, Hintz continues, he and his fellow classmates were poised with prior experience to thrive in the next iteration of entrepreneurial boom time. (Hintz founded TripIt in 2006, exited well in 2011 and has served in senior roles with many other successful technology firms.) Another strain of thought is about the caliber and kind of people who were attending Wharton back then. “I think that era at Wharton was pretty magical,” says Jacqueline Reses, W’92, who manages the extensive array of M&A and Partnership activities at Yahoo as its chief development officer. It was a “really standout business environment,” she believes, at a time when Wharton was nearly alone in providing an undergrad business degree. The School attracted an “incredibly entrepreneurial cohort of people.” “Back then, you went there because you were the geekiest, business-focused kid in your class,” she says. “I was always amazed at the kids who I went to school with; each person seemed brighter than the next. Kids would sit in Steinberg-Dietrich writing business plans and dreaming of enterprises that they wanted to build or run. It never seemed normal, just fun.”  

Watch our “In a Minute” video above about Professor Fader and his teaching philosophy and motivations.

  Then there’s the nature-nurture hybrid viewpoint. Wendy Moe, W’92, G’99, GRW’00, professor of marketing and director of the Marketing Analytics program at the University of Maryland’s Robert H. Smith School of Business, says, “We were at Wharton during a recession. The stories of earlier alums getting large numbers of job offers each didn’t apply to us. But I think that just made us work harder.” Moe worked so hard—and so effectively—that she came back to Wharton a few years later and was my first Ph.D. student. “We were all paranoid. It was a time when it wasn’t clear if we were going to do well in terms of getting jobs,” agrees Sheena S. Iyengar, W’92. Iyengar also became a star professor and now serves as the Inaugural S.T. Lee Professor of Business at Columbia Business School and new director of Columbia’s entrepreneurship program. Her book, The Art of Choosing, has been an influential best-seller. I’d like to believe that her MKTG 212 experience helped frame some of her work; however, her ideas are far too original and carefully constructed than anything I could ever conjure up. Returning to the theme of the special time the early ’90s were, Iyengar remembers Wharton students as ambitious and trained to be well-positioned for the boom-to-come. Josh Kopelman, W’93, founder and managing director of First Round Capital, told me he remembers working less with me in MKTG 212 than in an independent study we did on conjoint analysis of intent to purchase for his startup—when he was applying that training nearly simultaneously with his formal education. “I was getting a good education inside and outside the classroom,” he says. In other words, he was a full-time entrepreneur long before that was a cool thing to do. Now, countless Wharton students are trying to emulate him with their own startups—and Kopelman assists them through the Dorm Room Fund, a great initiative that First Round Capital developed to support student entrepreneurs. Kopelman remembers the early ’90s as a time when his classmates entered Penn without email addresses, only to graduate as the first to have them. The world of technology was a “blank canvas” and there were no veterans; Wharton students and young alumni were as well-equipped as anybody to shape the course of its future, he says. [pullquote align="right"]I didn’t necessarily appreciate it at the time, but 25 years later, I’m never caught by surprise.   [/pullquote] Andy Sernovitz, C’92, W’92, was another maverick who carved out new pathways—and entirely new sectors of industry. He founded the Interactive Television Association while still a Penn student, but that was before the word “Internet” meant anything to anyone. Today, Sernovitz is a world-renowned expert focusing on word-of-mouth marketing and social media in general. For him, all of it ties back to his Wharton experience and MKTG 212. “Without a doubt, the most useful part [of MKTG 212] was understanding the basics of what marketing research means,” he says. “Day-to-day, it’s that ability to recognize what’s meaningful when someone gives you the numbers. Along with the ability to catch b.s. in the research process. As a user of research instead of a practitioner, it was the exact foundation I needed.” I am particularly pleased that Sernovitz and many of my former students can identify specific ways that my course has helped their careers. Hintz points to the practical tools he learned in MKTG 212, like deciphering the market landscape or forced choice analysis—core components of marketing and product strategy that he’s used throughout his career. It’s been “invaluable” to have a quant framework to approach amorphous questions about markets, particularly startup markets, he says. Being familiar with the terminology and knowing which questions to ask were crucial when working with consultants, particularly as he conducted market research at Hotwire (where he worked prior to launching TripIt). Marketing consultants’ eyes would widen when he used the words “multidimensional scaling” and “cluster analysis.” Moe deals in data—and leading-edge models to decipher them—every day. She credits MKTG 212 for bringing her back to Wharton for her Ph.D. and says that the methods she learned as an undergrad are still useful to this day to gain a basic, first impression of data, even as research techniques move away from simple surveys toward complex unstructured text analysis. Her recent book, Social Media Intelligence (co-authored with David Schweidel, C’01, GRW’04, GRW’06), is a perfect example of this ever-evolving array of marketing research methods. Perhaps the most eye-opening and intriguing application of Wharton (and MKTG 212) knowledge came by way of Matthew Manion, W’92, president and CEO at Catholic Leadership Institute. Church leadership had asked his organization to collect data to measure the effectiveness of different parishes. This search led him and his team to build a model to track how a parish is spreading the faith—a “disciple maker index” that assesses where people are on their spiritual journey and how well a parish is helping them. It’s wonderful to see my former students following such a wide variety of career paths, but still finding value in what I taught them. Overall, it is hard to believe that nearly a quarter-century has passed since I first met these extraordinary individuals. Even harder to believe is that I had them in class before I had kids of my own, but today both of my children—Shayna and Wharton freshman Corey—are strolling along Locust Walk every day. Despite all these changes in my life and the world as a whole, some things never change. Sernovitz offers a timeless perspective: “Overall, it’s the breadth of Wharton education that was most useful—knowing the core ideas on a lot of things. I didn’t necessarily appreciate it at the time, but 25 years later, I’m never caught by surprise.” Thanks for the memories, MKTG 212 Class of 1991, and keep up the good work! Peter Fader serves as the Frances and Pei-Yuan Chia Professor in Wharton’s Marketing Department and as co-director of the Wharton Customer Analytics Initiative.    

MBA Essay: Wharton Veterans Own a Moment of Reflection

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Wharton MBA students gain more than the tourist experience during a visit to the World Trade Center development site.By Amy DaschleMBA Essay Option 3   In late March 2014, 25 full-time MBA students and their partners had the privilege to visit the World Trade Center development site and the 9/11 Memorial. Hosted by leaders at Silverstein Properties Inc., the real estate company that has been redeveloping the site for the past 12 years, the tour represented a unique opportunity for members of the Wharton Veterans Club whose lives were significantly changed following the events of Sept. 11, 2001. The diverse Wharton Veterans Club consists of former service members of the U.S. Army, Marine Corps, Navy and Air Force, along with the Australian Defense Force and Korean and Israeli militaries. Most members of the club began their service after 9/11 and have experience serving in the Middle East, Iraq, Afghanistan and Asia as helicopter pilots, intelligence officers, SEALs, Special Forces Rangers, F-22 pilots, infantry, submariners and engineers. The majority of the group had never visited the 9/11 Memorial or the World Trade Center before. Our tour started at the first tower built following the September 11 attack: World Trade Center 7. Mike Marcucci, the producer of the film 16 Acres, the documentary about rebuilding at Ground Zero, hosted our group and shared details of the redevelopment. The trip quickly proved to also be a special behind-the-scenes event from a security, real estate and business perspective. We visited the expansive marketing center, where potential tenants and visitors to the new World Trade Center are shown the history and the vision for the future of the site, including information about the security measures and architecture behind each of the new buildings. From there, we had an incredible view, inaccessible to the public, of the memorial pools at the 9/11 Memorial Park and much of the construction taking place. “We have seen the videos of that dreadful morning hundreds of times, but standing there, looking into the footprints of the original twin towers at the 9/11 Memorial, is a surreal moment that no one ever forgets. I know I won’t,” says second-year MBA student Grant Moody, a U.S. Marine who pursued an internship in consulting this summer. The 9/11 Memorial Park opened on the tragic attack’s 10th anniversary. Its two magnificent pools sit in the original locations of the North and South tower foundations. New construction, built over 16 acres of lower Manhattan, surrounds it. “The names at the 9/11 Memorial came alive for me because we know so many of their stories,” Moody recounts. “The business executive leaving a voicemail for his wife and kids from the 88th floor. The young analyst going back up the stairs in the tower to help his friends. The firemen who raced up the twin towers to help evacuate the injured. These aren’t simply anonymous names. Their stories will live forever at that memorial.” Those stories were made even more real for us when we met someone who lived through them. Michael Moore, the life safety director of Silverstein Properties, escorted us for part of our day and told the remarkable story about his time as a New York fireman. He witnessed the 9/11 attacks and participated in recovery efforts at Ground Zero. He is now responsible for the safety of the new towers going up on the site and their tenants. Meeting Moore was the highlight for second-year MBA student John Withers, a former U.S. Army Special Operations helicopter pilot. “His efforts, and those of his team and all the volunteers, were truly heroic as they worked to save lives, including some of his closest friends. He’s a national hero, and it was our honor to be able to listen to his story,” Withers says. During our visit with Silverstein Properties, we donned construction vests, hard hats and boots as we made our way across the construction site. We visited the new office space at Tower 4 and took in the 360-degree view of New York City from the 68th floor. Outside on a terrace, we glimpsed an up-close view of Tower 1, more commonly referred to as the “Freedom Tower.” What was most poignant about this visit to hallowed ground was the realization of how much our lives changed on that day in 2001. We paused to remember our friends and fellow comrades who paid the ultimate sacrifice and reflected on our resilience. It was a powerful day to be remembered by all who attended. Amy Daschle, WG’14, served five years as a U.S. Army engineer in Iraq and Afghanistan and two years as a sales and marketing manager at PepsiCo prior to Wharton. Since graduating, she works in strategy consulting in Philadelphia. She was a recipient of the Class of 2014 Core Value Leadership Award. She wrote this essay while still a student in the Wharton MBA Program.    

Undergrad Essay: Once and Future Leader

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This Wharton freshman has a message to Wharton alumni: Offer no handouts, just opportunities.By Kayvon Asemani [caption id="attachment_26666" align="alignright" width="241"]kayvon5aa8a57 Photo credit: Phil Flynn[/caption]   Ever since I was a young boy, I have had this unwavering confidence that I could do anything I imagined. I have always believed in myself. But ever since I was a baby, I was neglected by my father. When I was 9 years old, I lost my mother to a tragedy. No matter how much I believed in myself, I was losing every bit of support. I was just an innocent kid trying to reach success; it seemed as if success was not trying to reach me. Fortunately, a family friend led me and my siblings to an institution called the Milton Hershey School that is devoted to helping underprivileged children. My ambition mixed with the opportunities that this place provided allowed me to achieve my most significant accomplishment to date—getting accepted into the Wharton School at the University of Pennsylvania. Everyone, no matter what his or her circumstances, deserves to have an equal opportunity to achieve success. My goal is to help create a world where that will become a possibility. Wharton is the perfect place to achieve this dream. I am very excited to be immersed in an environment full of amazing students and to learn from all of the collective intelligence my peers have gained from their experiences before Penn. It will be thrilling to experience this journey with my classmates and the upperclassmen. I look forward to an opportunity to step away from the spotlight and leadership roles for once in my life and learn from other people who have so much to teach.   [gallery type="slideshow" link="file" ids="26476,26477,26478,26479,26480,26481,26482,26483,26484,26485,26486,26487,26488,26489,26490,26491,26492,26493,26494,26495,26496,26497,26498,26499,26500,26501,26502,26503"]

View the photo set above from New Student Orientation to see Kayvon and his classmates forge the first bonds that will last a lifetime.

  Please allow me to make one thing clear: Leadership is one of my deepest passions. I served in the Student Government Association through all four years of high school and became student body president my senior year. I have been a leader, and I plan on continuing to be one. At Wharton, I plan on getting involved in many activities and clubs while also allowing adequate time for study. Over time, I want to get involved in many leadership and service opportunities at Penn and, within the community at large, become a better contributor to society. The clubs that interest me most are those related to entrepreneurship. I believe that developing an understanding of how to start, run and maintain a business is more important than being the most talented or knowledgeable person in your particular field(s) of business. Once I gain this knowledge, I will recruit the talent needed to make sure that the services I provide in my multifaceted business are at their very best. There is a whole world of people out there. Fortunately, I do not have to go very far to find incredible talent. The sole purpose of the reference to my personal life at the beginning of this essay was not to be pitied. All of those early hardships are over. I overcame those obstacles years ago. I realize, too, people have overcome larger obstacles than I have, and unfortunately as I write this, others are going through more difficult struggles and still have not seen any success. All they need—and all I ever needed—was an opportunity. Despite my unfortunate circumstances, I was able to achieve something huge with an opportunity that complemented my hard work and dedication. This is a message to all of us out there who have struggled—proof that with hard work, we can find opportunities and live the success of our wildest dreams. This is also a message to Wharton alumni, asking you to join me in this mission of allowing motivated and passionate people the opportunity to succeed. Offer no handouts, just opportunities. Kayvon Asemani is a freshman at Wharton from Baltimore. He is studying Economics and looking for other concentrations to complement his degree. He enjoys service and creating music and hopes to incorporate those interests into his studies through his involvement in the Civic Scholar program and his website www.kayvonmusic.com.
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