Archive for the 'Uncategorized' Category

BusinessWeek Rankings of Part-Time MBA Programs - Top 20 Again!

Published by Richard Coughlan on November 6, 2009 in Uncategorized. 0 Comments

We learned that Richmond was again included among the top 20 part-time MBA programs when BusinessWeek unveiled its rankings last night.  The Richmond MBA moved from fourth to third in the mid-Atlantic region and was the only program in Virginia to make the top 50. 

At #17 nationally, Richmond is a few spots ahead of Ohio State, USC, Texas and NYU.  Our faculty earned a well-deserved A+ for its teaching quality and student respondents gave the same grade when asked about the caliber of their classmates.

 The full rankings table can be found here — http://bwnt.businessweek.com/bschools/ptmba_rankings_2009/.

Networking

Published by Meg Standing on June 26, 2009 in Professional Development, Business Ethics, On the Job Front and Uncategorized. 2 Comments

Keith Ferazzi, author and business coach, says that, “networking is the key to success in business.”

We all know that networking is important yet this loaded word often brings about emotions such as anxiousness and uncertainty. Why? Is it because we feel we don’t know how to network “properly” or that we feel it is unauthentic? Do we set expectations for ourselves too high in networking situations?

Designated networking events often do put people on edge because we know that we are expected to perform at a certain level and keep up with those to whom networking comes naturally. But truthfully, networking comes naturally to most all of us. Think about the last time that you went to a wedding or out to dinner with a group of friends you may not know too well. Did you consider those events networking events? Did you feel nervous before leaving your house? Probably not because you weren’t focused on networking – you were focused on having a nice evening and the chance for good conversation with new people. So over the course of the wedding or the dinner out you were able to relax, enjoy the moment and allow new people to get to know the real (although maybe the best behaved version of) you.

Personally I find weddings and other social events the perfect time to network. Often you are at these events with at least one other person that you know, and there is a good chance that they know at least one more person, who knows one more person, etc. Over the course of the event you may discover that the person seated across from you is in the same line of work that you are in or that you are interested in transitioning into. Because you are not concerned with networking, you ask valuable questions, make interesting comments, and leave with a new connection.

So the next time you’re at a formal networking event, just remember that these events are actually just a chance for you to meet some interesting people, have some valuable conversations and hopefully leave with a few new contacts.

Lastly, I have to add that electronic networking is huge and only likely to grow in the coming years. Sites like LinkedIn, Facebook and Twitter can be valuable networking opportunities, but we must all remember that the same rules apply online as they would in face-to-face situations: do not say anything that you would not feel comfortable saying to someone’s face; remain honest about who you are and what you have accomplished; follow-up when leads are provided to you; make sure you monitor pictures of yourself and things written on your profile very carefully as you never know who else will be able to access your pages (whether or not they are a friend/connection). And my final suggestion, do not hide behind your computer; it is fine to make an initial connection via the Internet, but there is nothing more valuable than face-to-face or phone conversations.

Some tips for creating valuable networking opportunities:
1)    Always be 100% authentic.
2)    Remember that a first impression is everything – go in with a smile, firm handshake and an optimistic view.
3)    Ask interesting, open-ended questions and say something meaningful that others will remember you by.
4)    Remember the golden rule – “do unto others as you would have others do unto you.” If you want your connections to pass your name along or help you find a new job, you must to be willing and able to reciprocate this same help to others.
5)    Realize that not all of your connections will be able to help you now, so be sure to stay in contact so that they will remember you in the future when an opportunity arises.
6)    Have your brief “elevator pitch” ready at all times so that you can quickly and concisely articulate what it is that you do/want to do when people ask. Practice this self-introduction to close friends and family and ask for constructive criticism, but always remember to remain genuine in what you say and how you say it.
7)    Practice makes perfect. If you hate formal networking, force yourself to go to as many of these events as you can so that you feel comfortable. Get involved in activities you enjoy in the community and use these as ways to practice your networking skills.
8)    Follow up on leads and be sure to thank the person who helped you make a connection. The handwritten thank-you note will always help make a good impression.

Influence

Published by Marissa Smithson on February 5, 2009 in Uncategorized. 1 Comment

“Don’t ever stop being curious” and “Question everything” my grandmother told me on the phone the other night.  Of all my relatives she is the most interested and curious about what I’m learning in graduate school.  She is constantly challenging me with questions on subjects that I don’t know anything about and pursuing thoughts to the nth degree when I would have settled just to have an answer.  

I’d love to be able to say that my grandmother was a big influence on me when I was growing up, but this conversation has been one of many that I have initiated in the recent months since she was diagnosed with stage 4 cancer.  Don’t get me wrong, we visited and called on occasion, but the closeness did not happen until the reality of what I would lose hit me.  And I’ve been lucky, I have the opportunity to appreciate the gift that she is and hear her insights directly.  I’m driven to listen, not just because I want to have memories to remember her by or because it helps her to talk about something other than doctors, her health and treatments, but because she challenges me to keep reaching beyond what I am today.  Her influence now, while I’m in school, reminds me that learning is a lifelong journey, and should not stop when I get my degree.

 Who is your biggest influence in your life today and what lesson did you learn from them?

Positive Signs

Published by Richard Coughlan on December 18, 2008 in Uncategorized. 0 Comments

At our annual gathering for students and alumni at the Jefferson Hotel last night, I heard stories from several individuals who had recently been promoted within their own organizations.  Each spoke very positively about the opportunities they see for their firms and themselves in 2009.  It was a nice contrast to the recent headlines that are affecting many in our community.

Additionally, two recent alumni told me they were preparing for interviews with outstanding companies in Virginia later this week (one tomorrow and one Friday), further evidence that there are still some positive signs for our graduates.

I continue to believe that the energy and healthcare sectors provide great promise for MBA students.  I also sense that firms with truly global footprints will have opportunities for those willing to experience other countries and cultures.

Hushpuppies and customer segmentation

Published by Adam Foldenauer on September 27, 2008 in Uncategorized. 1 Comment

I hurried into one of my favorite lunchtime establishments, Bill’s Barbecue. Stepping to the counter, I ordered the same combo I always do, a minced platter with hushpuppies. As I prepared to slide aside and wait the usual 3 to 5 minutes for my order to be prepared, the cashier presented my sandwich and looked at me, dumbfounded: “Here it is. They don’t usually come that quickly.”

The cook peeked from behind the counter, waved at me and winked. Apparently, on this my 107th visit, he had recognized me and prepared my “usual” while I stood in line.

I was already a loyal customer, but that experience strengthened my affinity. After all, it’s not every day you receive personalized service from a fast-food joint.

In your role as a businessperson, do you know your customer needs as well as the cook knew mine? Consider this question regardless of where your role falls within your company’s value chain, because in today’s struggling economy where consumers are spending less, now is an important time for all of us to pursue new customer insights.

So, who are your “regulars”? Finding the customers who consume your product or service at high levels – like me at Bill’s BBQ – is a volume-based segmentation. Knowing this customer segment well is critical. What can you do to strengthen their commitment to your product and brand, and what can you do to persuade them to expand their relationship with you?

To make your most important customers feel important, you first have to know their unique behaviors, motivations and needs. Then, position a product offering to meet their need, or customize their experience at the most important touchpoints.

A one-size-fits-all customer experience loses, especially when marketplace conditions are difficult. Firms who are intentional about customer targeting will increase loyalty and enjoy stable revenue streams.

P.S. Next time you’re at Bill’s, try the grape lime-aid.