The Orient sparks my imagination. It is just two days until we depart for Japan and South Korea on our MBA international Study Tour. The number of assignments due before our flights is stacked – my team works day-by-day prioritizing which fires to fight – yet each time we submit a report or presentation my excitement builds. Of all the countries in Asia, Japan captures my imagination the most: a high-tech world melted into politeness and respect of their past. The kid in me yearns for the latest Nintendo Switch, the engineer in me longs to travel the bullet train over its flat seismic terrain, while the adult foodie in me craves everything on offer! But if I’m honest – we only have two days and three nights in Tokyo before we fly to South Korea. I am a man who focuses on his priorities – my inner Anthony Bourdain wins breakfast, lunch and dinner.
In Dublin – we don’t have the bullet train – we have the Dorsh! Our green train with its loyal base of daily commuters is one of Ireland’s greatest public transport success stories. And, yes we do have some! Our Dart snakes up and down Dublin Bay where the views can simply make your day, but it’s nowhere near as memorable as the Dub’s quick wit overheard on the Dart. I was delighted to discover that our first field trip in Tokyo is to J-Trec: the manufacturer of our lovely DART. This will be a great opportunity to learn more about manufacturing processes in a heavy industry, the Japanese productivity philosophy and (fingers crossed) high-speed trains. In between our field trips, my class and I hope to experience as much Japanese culture as possible: the sights, the sounds and sheer culture differences that stop you dead in your tracks.
The focus of my MBA journey is not to be railroaded by the desire to purely amass textbook knowledge. It is about learning from my classmates’ different perspectives, the challenges they place on you to justify your idea or opinion – there is no better group to call a spade a spade – and the opportunities to improve your soft skills and behaviors to grow as a leader. Yet I have this gut-feeling Japan will challenge everyone’s perspective.
On March 11th, 70 MBA students will depart for the annual Smurfit MBA International Study Tour. This year, for the first time, we will be visiting Tokyo, Japan and Seoul, South Korea. The Study Tour encourages participants to immerse themselves in the business environment of these unique countries by taking them on an intensive exploration of local business practices, challenges and cultures, using company visits as the ideal setting for practical learning. It combines a variety of high-level company visits, presentations and panel discussions from leading executives, government officials and entrepreneurs, all relevant to the core management disciplines being studied on the ‘Doing Business in International Markets’ MBA module.
Along with the academic aspect of this module, there are three main outcomes that we aim to achieve throughout the week-long Study Tour:
Career Development: To develop a deeper understanding of doing business in an international context and an opportunity to network with senior executives from various backgrounds.
Skills Development: Practical exposure to innovative business case studies relevant to the core courses studied and enhance team working skills through group challenges.
Personal Development: An intensive social networking opportunity. Build strong relationships. Challenging experience – “get you out of your comfort zone”.
There is a strong networking and social element to the Study Tour and we have lots of exciting adventures lined up; dinner in the ‘Kill Bill Restaurant’ in Tokyo, visits to Harajuku, Takeshita Street, Asakusa temples, Gyeongbokgung Palace, Bukchon Hanok village and National Museum of Korean Contemporary History.
The students will be joined by Professor Karan Sonpar, Professor Pat Gibbons, Roisin O’Loughlin (UCD Smurfit), Lyndon Worrall (Legacy Ventures) and myself. Keep an eye on the MBA Blog next month to hear how we get on in Tokyo and Seoul!
I find myself in week four of the second semester of my 1-year full-time MBA. The weeks just fly by and one week does not resemble the next. With three electives on top of my core modules, I run from one thing to the next: I jump on a video conference with our Yale counterparts to manage a virtual plant as part of our Supply Chain module; try to negotiate a good deal to buy a new biotech manufacturing site in my negotiations elective; am torn between Friedman and Mackey on the purpose of business in my Business Ethics class; come up with a business model for a new venture in Entrepreneurship; juggle fixed, variable, direct and indirect costs in Management Accounting; create a ‘Elena 2030’ vision with my executive coach; take a breath and literally run to the next thing.
And yet, there is a comforting constant in the hectic MBA week. Every day, at 1.30pm on the dot, the door to the MBA room opens and ten very excited (mostly male) MBA students cannot wait for the highlight of their day: the sandwich and soup deal from the Deli around the corner. I have to admit that I do sometimes join in because you cannot beat a good sandwich for lunch – may my sourdough-loving German ancestors forgive me. The comforting thing about it is, however, not so much the sandwich itself (and the obligatory basil and tomato soup), it is the fact that no matter if you buy a sandwich, bring your own lunch or just enjoy a coffee after eating in the cafeteria – every day you get to spend a peaceful 30 minutes in the MBA room with a mix of interesting, genuinely nice people who always have a good story to tell.
An MBA is an intense experience and it is a tough and sometimes scary decision to leave a great job to go back to being a full-time student for a year. Building on what Cathal wrote in his blog entry below (check it out, well worth reading!), what makes this year a lot easier and very enjoyable is the people you get to spend it with. In Germany we say ‘geteilte Freude ist doppelte Freude, geteilter Schmerz ist halber Schmerz’, which translates to ‘shared joy is double joy, shared sorrow is halved sorrow’. This definitely applies to an MBA. To make it a little less dramatic, let’s replace sorrow with stress. Sharing this experience with a great group of people is definitely double the fun and half the stress!
On February 2nd 2017, our Vietnamese study body organised a warm celebration of Lunar New Year with international students, Irish families with adopted Vietnamese children and members of the Vietnamese community in Dublin.
Lunar New Year is a very meaningful occasion for many Asian countries such as China, Korea and Vietnam, etc. In Vietnam, Lunar New Year is called Tet, which means the ‘feast of the first morning of the first day’. Tet is an important occasion for family reunions, when we cherish the success of past year, let the troubles go and look forward to happiness, success and good fortune in the upcoming year.
As an organising member, I was glad to see many international students interested in the event. We welcomed over 300 guests despite the heavy rain over the whole day. All the efforts spent over the last 3 months seemed to be rewarding when we engaged with participants through traditional games, when international students enjoyed and took pictures in our traditional dresses or when they attentively watched the performances. Looking back, I was reluctant to take the role as Event Director due to a heavy schedule in the first semester and unfamiliar study environment. But now I felt all the experience I had was such a great one. There were moments of tension the ‘ brain-storming’ stage, yet we had gone a long way to learn how to be flexible in our plan, to be appreciative of each other’s ideas, to give more than to take and to put ourselves forward.
When I first landed in Dublin 4 months ago, I was impressed by a small little thing – signage. All are written in English and Gaelic. Although nowadays, Gaelic is becoming less popular among young people, the presence of Gaelic in almost all public areas is such a great reservation of culture and traditions. Recent years in my home country have seen debate over whether Lunar New Year should be combined with New Year holiday in the Gregorian calendar. Advocates would point to economic loss and overspending during such a long holiday. For me, I still hope that every year we will still celebrate Lunar New Year and that our people will never lose tradition because of a so-called cost-benefit analysis. Simply, globalization and revolution are not to be carried out at the expense of intrinsic values.
Should auld acquaintance be forgot, and never brought to mind?
When I first told a good friend that I was going to do an MBA he responded, in true Irish fashion, by swiftly cutting me down to size. He responded by saying “Why would you bother? You do know it stands for Mediocre But Arrogant, don’t you?” As much as I knew that this wasn’t the generally accepted view of an MBA, I could not get the idea out of my head during both the application process and the run up to the start of term 1. I had a genuine fear that the class would be full of cutthroat, pompous narcissists. Thankfully, after a few weeks I could say that our very diverse class (73% of which are international students) was certainly not arrogant but instead a very down to earth one that quickly gelled into a close-knit unit. This was critical in putting me at ease about the year ahead.
The fact that I am a constant worrier meant that it was not long before my focus moved to the Mediocre part of the phrase. Did we lack arrogance because we had no reason to think highly of ourselves? Were we inferior to those that attend the top ranked business schools such as those of the Ivy League, LBS, IE etc.? Was Smurfit only able to attract mediocre candidates? After all you don’t need to be in the 700 (GMAT) club to gain entry. I was scheduled to go to Yale in mid-October for the GNAM (Global Network for Advanced Management) Global Immersion Week so I knew that would be a good opportunity to gauge the abilities of our school against some of the schools that are perceived to be the finest in the world.
The Yale trip was a fantastic opportunity. The chance to briefly attend an institution that is known across the globe and is synonymous with excellence was an honour. Upon arrival it didn’t take long to realise that many of these students had an air of arrogance about them but more importantly it did not take long to realise that we were every bit as good as them. I’d go so far as to say we were better than the majority of them and we were far more craic. Being able to see this comparison really reassured me about my decision to choose Smurfit. The fact that I didn’t feel the need to sell my kidneys to cover the considerably lower tuition fees was an added bonus.
Ok so now that we know that the Smurfiteers are as good as any MBA students, maybe it is that all MBA students are mediocre? I guess this really comes down to the perception of what an MBA graduate is. Some people who enter an MBA programme do it because they believe that companies will be lining up at the finish to throw money at them. Anybody with an ounce of sense knows that this will never happen. So why is it that certain hirers believe that by taking on an MBA graduate they are getting some super human that will revolutionize their business? If people think like this then they might think that MBAs are mediocre. Maybe that is how the rumour started.
The truth is that an MBA will not revolutionize you. How could it? Does any other degree work such magic? Of course not. What an MBA will do is equip you with a vast array of skills across many disciplines. These will not make you a subject matter expert but they will give you an edge in whatever field you choose to work. You may not use these skills immediately but at some stage I’m sure that they will be invaluable. You will only be mediocre if you do not commit to the programme and do not soak everything in.
UCD Michael Smurfit Graduate Business School’s full-time MBA programme has been ranked 70th (a rise of 9 places) in the world and 22nd in Europe, according to the 2017 Financial Times Full-Time Global MBA Rankings, published today.
The improved ranking comes just three months after UCD College of Business published an ambitious strategy, to which it has committed €65 million, targeting Top 50 Global business school status by 2020 and is a further step to achieving this major milestone.
The Financial Times Full-Time MBA rankings analyse programmes based on several criteria including: career progress; employment success; school and programme quality; faculty research capabilities; and diversity.
Graduates from the Smurfit MBA programme saw their salaries increase by 71% on average within three years of completing the course. Smurfit’s full-time MBA programme was also placed in the top 10 in Europe for value for money and 16th globally.
Consistent with UCD Smurfit School’s mission to be for the world, the Financial Times analysis of the Smurfit MBA also highlighted increased rankings in measures of diversity including female faculty representation and female student participation with rankings of 39th and 44th respectively in the top 100.
Speaking about the rankings, Professor Ciarán Ó hÓgartaigh, Dean, UCD College of Business said: “UCD Michael Smurfit Graduate Business School can be justifiably proud of its record of accomplishment in the FT Full-Time Global MBA Rankings, regarded by the market and peers as one of only a few highly-respected benchmarks of excellence in business education. This consistency puts UCD Smurfit School in a select group of fewer than 50 schools which have attained this accolade for 18 consecutive years. This is a great success and we are determined to do better for our students.
The quality of our research and teaching is a relentless focus at UCD College of Business and requires significant ongoing investment. The additional €65 million of non-exchequer funding committed over the next five years will be key to ensuring all aspects of our mission perform to the highest international standards as we compete with the very best providers of business education in the world.”
Most people would agree that taking a break is nice. Taking a break from whatever your regular routine is; taking a break from work, family, school etc. As a full-time student, taking a break means total mental and physical peace. The build up to the break gives you an almost super-human ability to switch off completely. Think of it like an over-heating car. You work tirelessly through the first semester to achieve your goals and meet every deadline. At the end you begin to burn out and all you need to do it switch off, cool down and refill.
There is something about the holiday season that makes the break that much better. Once you switch off, you can wake up at odd hours of the day without feeling any guilt. Eat way more than is necessary or socially acceptable. You start to procrastinate even the less important things in life: should I wash the dishes now or later? And you experience freedom and tranquility in large doses. Taking a break is nice.
However, taking a break means that you will eventually have to get back to work, or family, or school. People will generally fall into one of two distinct categories. The closer the return date comes, the more some people find themselves pondering time travel and the speed of time. Where did the time go? How can I go back to the beginning? On the other hand, the closer the return date comes, the more restless some people become. It’s been way too long! Can we get started already? Whichever group you belong to, you realize that life simply must move on and you simply must get back. And then your mindset changes.
Back to reality. Time to set new goals and deadlines. Time to meet new people and experience new and different things. Time to get back into a routine, feeling rejuvenated and ready. You begin to look forward to the challenges and work that will surely come. You recognise that although last semester was hard, it was fun and it was worth it. You look at the person you were at the beginning of the MBA programme, and the person you are now, and this makes you look forward to working toward the person you will be at the end of the course.
That is when you appreciate that breaks are never meant to last forever. I have every confidence that the rest of this school year will be exciting, rewarding and fulfilling.
Fabulous frocks and classy tuxedos were the order of the evening at the annual UCD Smurfit MBA Graduation Ball, which was held on December 10th at The Gibson Hotel, Dublin. This year, the organising committee decided to use the Ball as an opportunity to raise funds for Spinal Injuries Ireland (SII). With over 110 people in attendance, the black-tie event was a complete success.
All money raised by Smurfit MBA graduates, current students, alumni, Aspire scholars, and Smurfit school staff, together with their partners and friends, will help SII to provide effective support services for individuals with a spinal cord injury and their families.
Special guest, Kevin Dempsey from SII explained the invaluable work of the charity before guests were treated to a four-course meal, followed by a raffle and charity auction, masterfully compared by Jack Mac Giolla-Bhride. Auction items included signed Leinster and Ireland rugby jerseys, a top-of-the-range Whirlpool washing machine, and five-star hotel getaways. Bidding was hotly contested with Cormac Kelleher, Sean Griffin and Michelle Mary McEvoy walking away with the top lots.
There were also several spot prizes awarded, including Best Dressed Lady (Muireann McCarthy) and Best Dressed Gent (Conor Connolly) and Most Air Miles Travelled (Vince and Sonya Cooney). After the meal, guests were entertained by 80s super group Spring Break and dancing continued into the wee hours of the morning.
The event, which raised €8,500 for Spinal Injuries Ireland, was organised by Dorothy Chestnutt, Barbara Gilleran, Ciarán Reilly and John Ryan (UCD MBA Class of 2016). Spinal Injuries Ireland CEO Fiona Bolger said: “We were delighted that the organising committee selected SII as their charity partner for the graduation ball. In addition to the amazing donations that we received, the event helped to raise awareness of the devastating impact that a spinal cord injury can have. On average, one person sustains a spinal cord injury every week and it can happen to anyone at any stage. The funds raised from the event will go towards crucial services such as our Community Outreach Programme which provides support and information to people living with a spinal cord injury and their families.”
The organising committee were delighted that the event was successful with vital funds being raised for a very worthy cause. The committee would like to acknowledge the generous support of all those who helped in the run up to the ball, prize donors and sponsors, especially our main sponsor Enowine, who supplied wine for the event. In addition, sincere thanks for the incredible generosity by all who came to the event and to those who unfortunately could not join us, yet still donated.
Best wishes for 2017!
2016 MBA Graduation Ball Committee ~ Dorothy Chestnutt, Barbara Gilleran, Ciarán Reilly, and John Ryan
Undertaking an MBA was something I had considered for a long time. However, with my career progressing and being in my mid 30’s I has thought that the time to take on this challenge had passed me by. Realising that I wanted to change my career path, I spoke with friends & colleagues, and made enquiries into what options and programmes were available to me. I quickly realised the Full-Time MBA in Smurfit Business School matched exactly what I was looking for.
After 10 years in the banking industry, giving up my job (and salary!!) for a year was a scary prospect. However, unlike many of my classmates, being from Dublin was advantageous in terms of not having to move, which made things easier for me. Returning to full time education after a gap of 10 years certainly took some getting used to, but after 2 to 3 weeks of a settling in period I was back in the student mind-set.
There is a wide diversity in the class in terms of experience, industry, and nationality. Adapting to different people’s way of doing things takes time and includes some trial and error – but I am always learning. An engineer and a banker certainly have different ways to tackle the same problem! However, what I have learned is that there are many ways to successfully complete a task. Quite often a hybrid approach between team members proves to be the most efficient way of achieving success.
The past 4 months have flown by. It has been tough at times and the hours have been long, however I have learned a huge amount both academically and personally and I have met some great people along the way. Semester 1 is complete, however there is still a long road ahead and I am looking forward to the challenges that 2017 will bring.
I have really enjoyed the MBA experience to date, but having said that I am certainly enjoying the Christmas break! Lots done – even more to do!
Sunday 18th of December and it is two days after the end of some of the busiest weeks of the Executive MBA to date. With Semester 1 of Year 2 complete, most students could be found making up for lost time with family and friends, Christmas shopping, or simply enjoying their freedom again. All except for our team of five daring Executive MBA students who traded Dundrum Shopping Centre for a small meeting room in The Radisson St Helens Hotel. Acting as a team of consultants, we were challenged to dissect a case on McDonald’s proposed global turn-around strategy within three hours, followed by a 25 minute presentation outlining our proposed strategy and rationale. Armed with the knowledge gleaned from the MBA to date, we set to work confident we could solve McDonald’s strategy dilemma. The Smurfit MBA team’s preparations for the John Molson International Case Study Competition 2017 were truly in full swing.
The journey began on October 11th when the second year Executive MBAs were invited to participate in ‘trials’ to establish the UCD team that would travel to Montreal to participate in the competition. Organised by John Molson School of Business at Concordia University in Montreal, the competition is the largest and longest established business case competition of its kind in the world. It takes place in Montreal every January and is a round-robin tournament consisting of seven rounds of unpublished business cases over five days. A total of 36 international universities will be represented in 2017 including teams from Canada, America, Australia, Brazil, China, Mexico, Chile, Sweden and Germany.
The UCD team was selected following individually prepared presentations on a sample case on microfinancing in rural India. We were informed by Smurfit School that we would receive all the support we required and determined to make the most out of this opportunity, we set about honing our strategy and presentation skills.
First up was an intense session on strategy analysis with Professor Pat Gibbons. Pat is the team’s coach and will travel to Montreal to provide guidance and support throughout the competition.
Next up, Paul Slattery took the team for a master class on how to present, prepare Power Point slides and communicate effectively with an audience, in this case the local business executives who will act as judges in Montreal. For anyone who has had a class with Paul Slattery, they will appreciate how valuable a session in such a small group proved to be. The evening with Paul was challenging but thoroughly enjoyable, provoking more than a few laughs from the group along the way as we perfected the art of corporate story telling amongst other skills.
With our foundation sessions complete, it was agreed that real life practice cases would be the best way to develop our skills. Our first practice case revealed to us the scale of the challenge we were facing within a tight three hour preparation window. It highlighted many areas for development; we lacked structure, time efficiency and a clear direction. This led to a sense of panic during our preparations as the clock ticked down and this was apparent to Pat from our rapidly cobbled together presentation slides. However, we surprised ourselves in getting through the presentation fluidly. Whilst we had some doubts about the arduous challenge facing us, they were quickly eradicated at this point as we knew we could only improve with practice.
Over the next few weeks we worked rigorously to evolve as an effective team under time pressure and developed a clear process for tackling case studies. Our rate of improvement as a team has been incredible and has only been matched by the rate of learning as individuals. Speed reading, effective group brain storming, clear communications, strong Power-Point slides and strategic thinking have all been key takeaways for the group.
The preparations are now complete and all that is left for us is to execute our plan. The team travel to Canada confident that our committed preparations will bear fruit as we represent UCD on the world stage. In reality, we are unsure of what to expect from our competitors but ultimately; win, lose or draw we are satisfied that we have already learnt more about strategy, presenting and most importantly team-work than would ever be possible in a classroom. It has truly been a fantastic experience to date, and we look forward to jetting off to Montreal to put our MBA skills to the test.
We would like to express our sincere gratitude to Professor Pat Gibbons for the huge amount of time and advice he has given, Paul Slattery for his guidance on presentation skills and finally Ro Downing and all at Smurfit School for facilitating this invaluable experience and providing all the support we could have wished for.
The competition runs from the 1st – 6th January and a further blog post will follow in relation to our experience in Montreal. Hopefully we will be talking about the first UCD team to win the John Molson International Case Study Competition. One has to believe to achieve.
Declan Walsh ~ Executive MBA, Year 2
On behalf of: Derek Anderson, Anne Marie Barcoe, Tanya Kenny and Catherine O’Brien