I got to my hotel with minimum difficulty. I have to say, though, that the Spanish don’t make things really user friendly. It did not say ANYWHERE that in order to get to the train station that takes you to the city, you need to take a bus to the other terminal. There are signs that point to trains, and somehow it takes you to the inter-terminal bus, but no information as to why you’re going there. So, for future reference, the train station is at Terminal 2 in the Barcelona airport. I wandered around the terminal back and forth for quite a while before I realized that the train station was in the direction that NONE of the signs were pointing to. Of course. How silly of me.
Once on the train I, with the help of my equally confused Chinese neighbor and her family, figured out where the hell was taking us and where I needed to go. It could not have been more confusing. Have they heard of a little red “You are here” dot? I guess that’s asking too much. Silly American girl. The Chinese family was entertaining – the parents were admiring the elder door so blatantly, and the younger, fatter, uglier sister only got the affection of said older sister. Yes, I picked all that up without understanding a word they were saying.
I was probably a bit of a spectacle making my way through the train station, as I didn’t bother picking up my suitcase to go up and down the endless stair cases. Clang clang clang. Yup. Sorry Mark, your bag might not survive much longer.
I finally got to my hotel – Hotel Barcelona Universal – which was LITERALLY right there was you get off the metro stop. Awesome. The front desk wasn’t particularly friendly, but all my requests were met so I can’t complain too much. Customer service, after all, is an American invention. I unpacked my suits, connected to the internet, and went to SLEEP. I slept till about 4 in the afternoon and then went to explore the neighborhood.
So, while the hotel is in a prime location in proximity to the metro, if you wander even 200 ft away from the hotel, you’re in a pretty shady neighborhood. That first day I walked to Las Ramblas, but in general, its not the best idea. I definitely stood out in my bright shiny rosy cheeked blondness. It’s a personal preference, but it makes me uncomfortable to be in neighborhoods like that alone.
I bought a croissant and a bottle of water as I was starving (thank god, though, for the Luna bars that I brought with me) After, I wandered up and down Las Ramblas looking for an attractive sidewalk café to have a cup of coffee at. Upon approaching the end of Las Ramblas, a young man in a big jacket and a shaved head offered me “sexo gratis” as I was crossing the street. Gee! For free! I thought nothing was free! Oh wait, that’s just in the US. I ended up back at the first café, and ordered my café con leche. The waiter was bored, as it was like 6pm on a Saturday afternoon and apparently that’s not a prime “sit in a café” time. This isn’t Paris, where that’s all people do He gave me a map of the city that was a lot better and more useful than the one I was using.
I strolled down Las Ramblas and made my way into the crazy market where they sell everything from fish to jelly candy. There were some delicious candied nuts that I wanted to buy a small sample of, but my lack of Spanish resulted in my buying a 10 euro bag of dates and nuts…oh well.
That’ll teach me to be more assertive.
I’m sick, so all I really want in life right now is some tea and honey. Most of the small little grocery shops I’d gone into didn’t have honey, so I went to El Corte Ingles in Placa Catalunya and bought myself a gigantic (only size they had) squeeze pot of honey for 5 euro. I then wandered into the first Starbucks I could find, because the concept of decaffeinated tea (as I would later learn at my hotel) doesn’t actually exist in this country. While in line at Starbucks, a young man with lots of curly brown hair started talking to me in Spanish. I gave him an apologetic smile and told him I had no idea what he was saying. Apparently, he wanted to “invite me” for a cup of coffee. The whole process was extremely awkward. After paying for my tea, he said he’d like to sit down with me, but he was already sitting with a friend (why did he invite me??), but then his friend actually got up to go, so I ended up sitting and talking with him for about 20 minutes. His name was Ananda and he was a meditation instructor for a living. Oh yes. We soon ran out of things to talk about so I politely excused myself and went on my way to search for the restaurant I had been told to go to for dinner.
A shady shoe store and a short bus ride later, there I was at Nor Este. I tried not to be put off by the lack of people on the restaurant’s patio (it was, after all, Barcelona’s winter) and went inside. I gave the hostess the card from Ramon (the waiter at the café) like he had said and she excitedly sat me and gave me a menu. Of course, the couple sitting behind me was Russian. I chatted with them, found out what they had ordered (so I would know what NOT to get) and ordered bacon wrapped shrimp for an appetizer and the seafood paella for dinner.
The shrimp was…interesting, but the paella delicious. I ordered the Crema Catalan for dessert – big mistake. It was like an overly sweet, overly runny crème brulee. But I chit chatted with the waiters, practiced my horrendous Spanish, and found out that I could take a bus home, because the metro may be shady at 11pm.
When I got back to my hotel, I was still in desperate need of tea to drink with my huge bottle of honey so I went down to the hotel bar. I ended up meeting a Scottish guy named Austin. Austin was in Barcelona for the umpteenth town because Austin works for a company that builds cremating furnaces. So, naturally, the Barcelona cemetery was quiet a client. He was the commissioning engineer for the furnace they would be putting in. Exciting, eh?
Like I mentioned earlier, they don’t understand the concept of decaf tea, and the waiter looked at my like I was crazy when I asked for “te sin caffeine?” No lady, that ain’t happenin. So I had some hot water with lemon and honey while another English couple joined our conversation. Finally, I popped a Benadryl and was out for the next 12 hours to catch up on the 3 nights of sleep I’d missed out on.
An account of my survival (or not) during a whirl-wind summer adventure and a two year International MBA Program!
Saturday, January 23, 2010
Friday, January 22, 2010
Case Study Scenarios: Industry Analysis
Industry Analysis: A company like GE wants to buy Time Warner but know NOTHING about the entertainment industry. Do an industry analysis for them.
o What’s the industry like?
o Can we rely on the suppliers in the industry?
o What can we expect in the future?
o What’s the industry like?
- Life-cycle (Emerging, Mature, Declining)
- Performance
- Who are the major players in the industry?
- How has the industry changed lately?
- What keeps the industry going?
o Can we rely on the suppliers in the industry?
o What can we expect in the future?
- Who else is trying to break in to this industry?
- What has happened lately to other players?
- Entry/Exit/Substitutes
Case Study Scenarios: Pricing Strategy
Pricing Strategy : A company has a new product, and they want to figure out how they should price this product.
1. What is the product?
2. What’s special about it?
3. Pick one of three strategies:
1. What is the product?
2. What’s special about it?
3. Pick one of three strategies:
- Competitive-based pricing
- Cost-based pricing
- Price-based costing
- How will the price affect the balance?
- What are other companies charging for similar products?
- What are substitutions for this product?
Case Study Scenarios: Competitve Response
Competitive Response: Competitor introduces a new product, or picks up more market share:
- What’s the new product and how does it differ from competitors? How much of the market has it picked up?
- Pick a strategy:
- Acquire the competitor
- Merge with the competitor, makes everyone more powerful
- Copy the competitor
- Recruit the competition’s talent
- Get better:
- increase marketing and PR campaign
- Increase Profits
Case Study Scenarios: Growth Strategies
Growth Strategies: When presented with a question of how a company can expand, or that a company is facing growth issues, proceed with the following questions:
o Do we focus on certain product, division, or company overall?
o How’s the industry and the company’s place in it?
o Do we focus on certain product, division, or company overall?
o How’s the industry and the company’s place in it?
- Are the prices competitive?
- What are our competitors doing?
- Where is the greatest potential?
- Can we fund the growth?
- Increase sales
- Increase product line
- Increase distribution channels (where the product is sold)
- Diversify (new product or service)
- Acquire company or competitors in another industry.
Case Study Scenarios: New Product
New Product: Existing company has come up with a brand new product i.e. Philosophy’s new line of anti aging skin care that is PROVEN to remove wrinkles.
o What’s the big deal about the product?
o What’s the big deal about the product?
- Is it special? Why is it special?
- Is there anything like it out there?
- Does it make sense for Philosophy (which goes for naturalness for your skin) to make this new product? Does it FIT with the company?
- Are there any disadvantages to this product? Maybe, side effects?
- Will it take away from existing products?
- What effect will this new product have on our customer base? If its gonna grow it, how and why?
- How will competing skin care brands react?
- Are there competitors already making this product and if so, how much of the market have they dominated?
- Best way to reach them (internet, etc)
- Best way to KEEP them
- How is it being funded?
- Can company afford it? What will happen if circumstances make it more difficult to pay off the debt.
Case Study Scenarios: New Markets
New Market: a company in an existing market wants to enter a new market. i.e. Pantene Pro V making make up:
o Why is this happening? Why do they want to make to make make up?
o How’s the current make up market?
o Why is this happening? Why do they want to make to make make up?
o How’s the current make up market?
- Size
- Growth rate
- Maturity
- Who uses it?
- Who’s the competitor and how are they doing?
- What are they doing that’s different/the same from what we’re trying to do?
- What challenges will we face in entering this market? (i.e. how are we going to make make up)
- What if we fail? Do we have an exit strategy so that our existing products don’t suffer?
- Buy an existing company
- Merge with an existing company that also doesn’t make make up but wants to, or is looking for something new to do.
- Start our own line
Case Study Scenarios
This post is incomplete, but I learned online that there would be a "mini case study" required as part of my ESADE interview. (Post interview I can say YES this is true). I've purchased two books on the subject and found the first one especially to be VERY helpful.
1. Case In Point: Complete Case Interview Preparation
2. Mastering the Case Interview: The Complete Guide to Interviewing with the Top Consulting Companies
I've taken some notes on the major case study types, and am posting them here for public benefit. Here is a breakdown of the types of mini cases you can expect to encounter:
1. Case In Point: Complete Case Interview Preparation
2. Mastering the Case Interview: The Complete Guide to Interviewing with the Top Consulting Companies
I've taken some notes on the major case study types, and am posting them here for public benefit. Here is a breakdown of the types of mini cases you can expect to encounter:
Thursday, January 21, 2010
Some Interview Pointers
I've been having people mock interview me, and researching interviews at IESE and ESADE to DEATH. Here are some pointers I've picked up:
1. Slow down when talking. The more thought out your words are, the more powerful they become. Nothing is more boring than rambling.
2. When you are given a question that stumps you, acknowledge it with something like “Wow, that’s a really good question. I just need a second to organize my thoughts around it”
3. When asked about your experiences with resolving conflict, leading a team, or how you handled certain situations, avoid we. This only prompt the interviewer to ask, ok, so what role in the WE did YOU play. Try to frame your answers with “I”.
Also, the key point in the interview where you get to really show what's important to you, and really turn the interview into a conversation, is when its your turn to ask the questions. This is your opportunity to make yourself stand out, and be a person they remember instead of just another interviewee.
Here are the ones I came up with...
Potential Questions:
1. I am very interested in pursuing an international exchange in my second year, but I’m concerned as to how that will affect my ability to secure a job upon graduation. ESADE prides itself on the relationship your career advisors build with the students from day one – will I be minimizing the impact of this if I chose to be in a different city or country at the end of my education? Will I have to rely on the career opportunities offered by the school I pursue my exchange with? Do the career services of the school take this into account at all?
2. I was very excited to learn about the innovation project partnership with the EU that ESADE will be involved in. Given my background with energy sustainability through my work with Smart Metering, I am very interested in being involved in future advancements in the industry and contributing to it where I can. Will students be directly involved in this effort, or is it more of a faculty/research project? Is this being built into the curriculum at all?
3. In the current economic environment, MBA are increasingly being referred to as either the heart of the problem or useless all together. Over the last two years, you hear about students coming out with prestigious MBAs, a lot of debt, and crawling right back to the employers they left to pursue their MBA, slightly wiser and a lot poorer. How is ESADE responding to the opinion that tomorrow’s business leaders wont be the ones with prestigious business educations but rather the renegades that learn how to work around the new systems that will be put into place as the world works toward a slow and sustainable recovery? What changes have you made to your curriculum to reflect the new needs of the world economy and the faces likely to be faced by businesses in the immediate and long term future?
1. Slow down when talking. The more thought out your words are, the more powerful they become. Nothing is more boring than rambling.
2. When you are given a question that stumps you, acknowledge it with something like “Wow, that’s a really good question. I just need a second to organize my thoughts around it”
3. When asked about your experiences with resolving conflict, leading a team, or how you handled certain situations, avoid we. This only prompt the interviewer to ask, ok, so what role in the WE did YOU play. Try to frame your answers with “I”.
Also, the key point in the interview where you get to really show what's important to you, and really turn the interview into a conversation, is when its your turn to ask the questions. This is your opportunity to make yourself stand out, and be a person they remember instead of just another interviewee.
Here are the ones I came up with...
Potential Questions:
1. I am very interested in pursuing an international exchange in my second year, but I’m concerned as to how that will affect my ability to secure a job upon graduation. ESADE prides itself on the relationship your career advisors build with the students from day one – will I be minimizing the impact of this if I chose to be in a different city or country at the end of my education? Will I have to rely on the career opportunities offered by the school I pursue my exchange with? Do the career services of the school take this into account at all?
2. I was very excited to learn about the innovation project partnership with the EU that ESADE will be involved in. Given my background with energy sustainability through my work with Smart Metering, I am very interested in being involved in future advancements in the industry and contributing to it where I can. Will students be directly involved in this effort, or is it more of a faculty/research project? Is this being built into the curriculum at all?
3. In the current economic environment, MBA are increasingly being referred to as either the heart of the problem or useless all together. Over the last two years, you hear about students coming out with prestigious MBAs, a lot of debt, and crawling right back to the employers they left to pursue their MBA, slightly wiser and a lot poorer. How is ESADE responding to the opinion that tomorrow’s business leaders wont be the ones with prestigious business educations but rather the renegades that learn how to work around the new systems that will be put into place as the world works toward a slow and sustainable recovery? What changes have you made to your curriculum to reflect the new needs of the world economy and the faces likely to be faced by businesses in the immediate and long term future?
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