Registration

Bright and early this morning (8am early) I registered for my LAST semester of grad school!! wahoooo!!!

Wait...really, my last semester?? I can't believe it's just right around the corner! We have less than 6 more weeks of class, then exams start. I don't have any exams per say this semester, but 1 paper and 1-2 presentation/reports due by December 7. I'm trying to finish everything before the 7th because I have a wedding at home on the 8th, but I may have to end up coming back for a presentation on the 10th.

Anyways, for next semester I am currently registered for Consumer Behavior, Business Relationship Management, & Services Management. I'm applying to get into the Consumer Practicum class, but that application process doesn't start for another few weeks. It's a new class offered at NCSU put together by Dr. Wood. She is the consumer behavior professor, and I'm really excited for the opportunity to work with her!

If this schedule stands, I'll only have classes on Tuesday and Wednesday along with at least 2 meetings per week for the practicum. It's definitely vastly different than first year with all our classes during the day, Mon-Thurs!

2nd year MBA

We’re about a month into the semester, but I could tell the first week of class this year is completely different. The main difference is our classes. Last year, our cohort was together for 15+ hrs per week because we were in every single class together. Only small exception was second semester, we were able to choose a concentration class. This semester we are all together for about 3 hours a week.

Another huge difference is the group structure. Over half the groups from first year have split up or lost a few people which will change the entire dynamic of the group. We also worked with the same group the entire year, and this year I have 4 different groups. Working with 4 completely different groups is a very different experience. In the same group, we would have standing meetings every week and go over multiple projects and classes. Now, I have to work around 15 different schedules.

 This semester is also very concentration specific. I’m in 3 marketing classes, and only 1 core class. All the core classes are extremely important and provide us a basic knowledge of the subject. However, this semester is a little more interesting because its directly related to the field where I’d like to work.

 

Some would argue this as good or bad, but I also only have 1 exam this semester. And its next week. Every class has a huge project, but no final exams to study for. I know I'll be glad when I don't have to spend 20+ hours studying for 3-4 exams in December!

18 days. 18 days. 18 days.

COME ON MAY 9th!

Only 18 days until we are finished our FIRST YEAR! 18 days until we are 2nd year MBAs!

This year has absolutely FLOWN by. We've learned so much and grown together as a class. It has been an incredible experience so far. Next year will be completely different. We only have 1 class together each semester all together, and the rest we're split into our concentrations. I'll definitely miss having everyone together in the majority of our classes and being able to work with Team Dominate for everything, but I am excited to get into more Marketing focused classes.

Now the only thing that stands between me and being a 2nd year MBA:

MarkStrat paper

Markstrat presentation

Brand Management presentation (paper is finished!)

Tech Management presentation

Brand Management take home final

Supply Chain Homework #3

Supply Chain Final

Finance cumulative Final.

A few fun things throw in the mix...Beach Music Fest, my Birthday and the End of Year Party.

The worst really is saved for last. If I say Finance test, its still hard. And each test was roughly 4-5 chapters. When I say Finance cumulative Final...I panic. Because not only does it include ALL the information from test 1 & 2 (9 chapters?) but also the 3 remaining chapters that weren't covered on a previous test. Yikes. 12 chapters of Finance. Hard Finance by the way. Hopefully I survive this one...

MarkStrat Results

Our MarkStrat simulation ended last week. Each of our 5 teams started out with 2 products in the Sonite market, with the option to go into the new Vodite market. It ended with 13 Sonite products and 5 Vodite products.

Our team decided on a strategy that would benefit us in the last few years. We did a few rounds of R&D on both of our Sonite products because they were pretty bad to start out with. We had a good idea of what our target audience was looking for, however they did change preferences slightly each period. We also made the decision to enter the Vodite market as soon as we could. This was fairly risky because in picking the specs of the product, we had absolutely nothing to go on and it was pretty much just picking numbers out of a hat.

We started out as last in stock price, last in Sonite with only 16% of the market share, and the first couple years in the Vodite market our product was getting crushed by our 1 competitor.

The end was slightly different. We were #1 in stock price by over 750, #1 in Sonite market share at 40% and #2 in Vodite at 46.1% (only #2 by 1%).

We took everyone by surprise because of our presence in the top 3 highest growing areas. They might not have been the biggest the first few years, however they grew at a ridiculous rate in the last few years so our stock price, market share and net contribution numbers soared.

MarkStrat

With marketing as my concentration, I take more of a vested interest in the projects and topics we go over in class. MarkStrat is our big project this semester. It is similar to our BSG simulation last semester, but this time around I have more of an idea what to do and how to achieve our goals.

Our class was split into 2 Industries: Wolf and Pack. We are Team I in the Wolf Industry, so we are competing again 4 other teams. Each team started out with two products in the Sonite market, all of varying market shares and profitability. The Vodite market is completely new, and there was no information on any of the segments involved. By sheer bad luck, we ended up with the two worst products in the entire game. I took this as an opportunity to use the targeting/positioning skills we learned the first few weeks of class and to prove that we could turn these awful products around.

We also are able to introduce new products into both markets as well as update current products. The first period we were not able to do any updates or new product introductions so naturally we ended up in last place after the first decision. We changed around our cost allocations with our research, production, advertising and sales force and after the 2nd decision we moved up to 4th place. In the third period we introduced 1 updated Sonite product and a brand new Vodite product. After these decisions were finalized, we moved into 3rd place.

Today we just entered our period 4 decisions, and we are anxiously awaiting the results. We introduced our second updated Sonite product and are hoping the new specifications hit our targeted segment directly. We also had to develop a Marketing Plan based on our decisions thus far, and our goals and plans for the second half of the game.

At the half way point, we currently have 2 products in the Sonite market and 1 in the Vodite market. I can't give away any secrets for our future plans, but we are hoping to make a big impression in both markets!

Second Year Classes

Tomorrow is the first day to sign up for classes. I think I have my schedule picked out:

Global Strategy

Marketing Research

Consumer Behavior

& Business Relationship Management

 

 

 However, I also have an alternative plan.

My main focus is Marketing and I want to take any and every class dealing with consumers, brand management, channel marketing and advertising that I can.

NC schools have a program called the Inter-Institutional Agreement where students can take classes at NC State, UNC or Duke to count towards their degree. The great this is that the costs to take classes at another university are covered under our GA. The classes have to be approved by our MBA department to make sure there isn’t a similar one offered at NCSU.

 The 2 I am strongly considering are Retail & Channel Marketing Management (a follow up class to Brand Management which I am currently taking) and Advertising Research. Tentatively I’d like to take Retail & Channel Marketing in the Fall and Advertising Research (to be more in depth after Marketing Research) in the Spring of my second year. The only kicker is that students at the school where the class is offered have first choice, and we have to wait until all students have signed up to see if there is room. I’m keeping my fingers crossed that it works out!

Come on Friday..

or I'll even take Thursday at 4:30!

That means freedom :)

ON A BOAT!

so all I have left is this lovely midterm. Being as though its the class that I least relate with, it's not going to be easy. I thought finance would be a rough one, but after studying for 4.5 days I knew and understood the material forwards and backwards and did extremely well. However-that's all numbers with a clear cut right and wrong. Supply Chain/Ops is a lot of numbers and analytical work, but there are also a lot of concepts to apply and more importantly knowing how explain the answers. I'm pretty worried for what he is going to throw at us at this point.

Pandora is set on Beethoven, so all I can do is buckle down and study and try to know the slides and homework/cases that we've done...

key word being try.

With the exception of class, and a couple workouts...my life is dedicated to Supply Chain until Thursday at 4:30..and then its

FREEEEEDOM on the OPEN OCEAN!

The Race to Spring Break..

Spring Break.

Only 11 days away!

Doesn’t seem like that far, right?!

Well with the amount of work we have due in 11 days, it’s feels nowhere close!

The biggest thing we have is a Supply Chain Test. In 10 days at 3:00 pm.

So while I’d normally be excited about packing and organizing all my outfits for the cruise, I will be focused on Supply Chain.

Also in the next 10 days, we have a Supply Chain Case Study, Brand Management Case Study, Supply Chain Homework, a couple Finance Connect assignments, Brand Management Project Proposal, 2 MarStrat decisions, and for our Technology class project a few worksheets-Porter’s 5 Forces, Value Chain and Industry Map.

Piece of cake right?!

HAHAHA...well all I can say is I can’t wait until March 2! We are leaving at 6am for Charleston to board our ship by noon!

First Test of 2nd semester!

Well it's that time again.

TEST TIME.

FINANCE to be exact.

We've heard from the 2nd years that Finance tests are VERY long, very detailed and you'll be in your seat working until the last minute of class. Needless to say, I'm a little bit nervous. I typically take longer to test anyways because I second guess myself, but there is no room for that on Wednesday!

We've all learned from our "mistakes" of last semester, and decided it would be a great idea to start studying last week. The first couple days, I was pretty stressed out because finance isn't really my thing. But after studying for a few days, and letting a lot of the information sink in I feel slightly somewhat better. Not confident by all means yet, but we still have 2 full days and that's typically when I do my best studying.

So bring it on Cash Flows, Time Value of Money, NPV, IRR, Payback periods and Capital Budgeting...maybe just not too strong!

Week 2 Down!

After 2 weeks of class, I can already tell this semester is going to be insanely hectic! Going with the motto Work Hard, Play Hard, we have a lot of fun things planned in between the madness: a long weekend in Miami, Spring Break CRUISE to the Bahamas, a few beach trips and Beach Music Festival just to name a few!

We have 5 pretty intense classes this semester: Management of Technology, Managerial Finance, Marketing, Product & Brand Management and Operations & Supply Chain. It’s similar to first semester in that most of the classes and times are set for us. We do have one elective to start our individual concentrations and since my concentration is Marketing, I picked Product & Brand Management. My ultimate goal is to be a Brand Manager for a luxury or consumer product company, so I’m really excited for this class. We have to build a marketing plan in this class, so I’m excited to start working on that.

So far, Marketing is probably my favorite class. Now I say that before we’ve really had many assignments to turn in, but I’ve really enjoyed the class discussions and material we’ve gone over. I’m actually getting ready to start our first assignment...shows I actually took my own advice to get work done on Fridays!

The big new thing this semester is CASE STUDIES. We have a lot of them. As in roughly 25...mainly in Marketing and Brand Management, so that in itself will keep me super busy. Then there’s Finance. Not my favorite class in undergrad, so I’m hoping this time around it’ll be a little better! So far I really like our professor, and she really seems to want us to learn and understand the material. The basis of our Technology class is a HUGE project where we start with a raw technology and come up with a business plan to develop it into an actual product. Finally we have Supply Chain. I have a feeling I’ll have to work a little harder in this class because I’m way more of a creative person, then analytical/see how something works kinda person. But that’s what business school is about-pushing yourself beyond your comfort zone and broadening your horizons to make yourself more well rounded and successful in the business world!

Second Semester...

Break is over. 4 weeks of vacation went by WAY too fast!

Now it's back to the grind...the start of second semester!

Today we started with Technology & Innovation and Finance.

Tomorrow we have Marketing, Product & Brand Management and Supply Chain.

Starting class today was completely different from last semester. Everyone knows each other, we have certain sections of the room where we typically sit, and we know a little bit more of what to expect. Our group is already close, and we know each other's strengths and weaknesses so its less of a learning curve.

Some classes scare me a little more (Finance/Supply Chain) than others, but all in all I'm hoping for a great semester.

Already Demember??

I cannot believe it is almost Thanksgiving break. This semester has absolutely flown by! In a little over a week, it'll be December? The past week and a half has been a little rough...

We’ve only had:

-a Research paper

-Econ Midterm

-Case Study

-Final Presentation

-Final 12 pg paper

-Accounting Quiz

-Paper analyzing a speech

-Powerpoint Slides

-Final Exam

No big deal. It was a little stressful at the time, but through the semester we’ve learned better time management and each other’s strengths/weaknesses. A group of about 10 of us has started studying for all our tests/quizzes together, dividing up articles/chapters to summarize, and teaching each other concepts/problems. It’s a pretty good bet that the day before and the day of a big test/quiz, at least 7-8 of us are in one of 2 study rooms in the Grad area. We nicknamed them “Vegas” and “Rio” to liven things up a bit! It has worked out pretty well so far...I’ve gotten the best grades on tests after we all started studying together!

one week later...

Our relaxing Thanksgiving break is over now. I forgot my laptop when I left to go out of town, so it was especially relaxing! Now, it’s back to the grind. But I can see the light at the end of the tunnel (the first semester tunnel at least)! 

Only:

 1 case study,

Accounting Final

 Econ Final

Communications Presentation

Stats Final

stand between me and a 27 day WINTER BREAK!!

As excited as I am for winter break, its somewhat bittersweet. I know how fast 4 years of undergrad went, and we’re almost ¼ of the way finished! Crazy!

Registering for Classes

Class registration started this week on Tuesday @ 8am. Registering this semester was a breeze compared to undergrad for numerous reasons. The obvious being of our 6 classes, 5 were already chosen for us. All we had to do was pick 1 elective to add to the set schedule. Per the 2^nd years’ advice, I signed up for Product Brand Management class on T/Th. I was told it was a good class to mix in with the hectic second semester, and it sounds like an interesting class. Our class will be split up for the elective, but I know a lot of us chose the Brand Management class!

The new registration system was new to me. Now, we can register for a “wish list” before the actual registration starts. So on the day of registration, you’re not scrambling around entering class numbers and trying to find the time that you originally wanted.

Undergrad was a whole different ballgame. We used to wake up at 7:30 to make sure we signed in right when the clock turned to 8:00. A limited number of people could log in at once, and we didn’t want to wait in line. None of our classes were selected for us so it was a fight to get into the class you wanted at the best times.

The wish list would have made my life so much easier trying to register for classes in undergrad! Next semester, I will have more control over my schedule/times so the wish list will be a great tool to help me keep everything straight before registration.

BSG Simulation

Our very first class was MBA 508, the Global Simulation Class. The Simulation has been done at NCSU for 47 semesters, and it changes every time. Basically, we were given the task of running an athletic shoe company with wholesale, internet and private label markets. All 10 teams started in year 10 with all the same stats and market share. Our group had to come up with a strategy that we thought would enhance our market share which producing a quality shoe.

My team (iDominate), decided to make a few big moves the first year:

• Building an additional production plant in Latin America
• Taking out a hefty loan
• increasing the quality of shoe in our Asia Pacific plant.

It paid off fairly well for us, but when we realized we had only built a 1 million dollar plant in LA and a competitor had built a 4 million dollar plant, we took drastic measures. We added another million to our AP plant and completely took ourselves out of the private label market. This put us in 2^nd to last place, strongly competing with two of the top companies in the class so it forced us to change our strategy once again.

We started making small changes to break away from our competitors and gain a competitive advantage. After 4 years, we were back up in 4^th place, and after 5 years our stock price had more than quadrupled. It was only a game, but I definitely learned a lot about business decisions especially financially.

This class was a great start to the semester! It eased us into the frameworks of everyday business decisions, and we had to deal with real problems and issues that come up in business every day. We also had to make a group presentation on our marketing strategies, regional differences, financial decisions, and what we may have done differently. This was our first (of many) presentations, so it gave us a good feel of how we presented and what we need to work on for future presentations in the MBA program!

I-Cubed

For our MBA 530 project, we are required to work with a company to help them fix a problem they are currently facing. We were encouraged to reach out to companies and see if they would be interested in working with us for the semester. Through various contact and LinkedIn, Brian found out about a company on Centennial Campus...I-Cubed. Grant Williard, a NCSU Alum, started the software company in 1984. He developed the technology that led to the created of I-Cubed while working on his senior design project sponsored by IBM. Since then, I-Cubed has grown to 75 employees and expects to reach about 125 within 5 years.

We met with their HR Manager, Erica and CEO, Donald to find out the areas they were looking to improve. Their main concern with the rapidly growing company is the communication. Hierarchy structures have been put in place, and effective communication between departments and managers haven’t come as easily as they would like.

Our job is to come up with a strategy to break down the communication barriers and have more effective communication within the company.  It’s a semester long project, so we will have meetings with I-Cubed fairly often. We’re excited and up for the challenge!

http://www.i-cubed.com/