PBW – Patrick’s Blog World

Reflections of a short long year

Time is running

Signed up over a year ago for the MBA with Henley Business School I think it’s a good point to reflect what actually is this MBA all about.

Started in June 2009 I didn’t have any clue what to expect. Of course the output of the MBA has been more or less clear: Gain new applicable and relevant knowledge, extend my business network, get new views on issues, get new approaches sound understanding of models and principles. Basically, get the tools to be prepared for the future; be it career progression or social life. So, has the first stage equipped me with the aforementioned kit? Yes it has. In many ways. Far beyond from what I initially thought would be relevant.

Surprisingly it’s not about the models, principles etc…these are means to an end. It’s more the way we learn, how we exchange information, how we perform when pressure is getting more and more. And it’s about personal development. Henley’s strong focus on personal development throughout the whole MBA is one of the most important insights I have been able to gain. Started as learning journal entries in a way of “Let’s try and see what happens” it really emerged into a valuable source of reflection. I must admit that we’re especially lucky as our tutor is doing a fantastic job. She really supports us and really triggers our thoughts to think outside the box and approach issues etc. differently. I’m really looking forward to the next 2 stages and my personal development as well.

People tend to ask me what kind of impact the MBA had on my professional life. Well, this can’t be answered conclusively. I’m still on a journey which hasn’t ended yet. However, with hindsight I’m able to say that the MBA really opened up my mind to approach situations holistically, question habits and mindsets, use different lenses and show empathy. Basically I would claim that I’m a way better manager than a year ago but I guess this is not up to me to assess.

Focus and Discipline

Let me write a couple of lines about the Flexible learning style I have chosen for my MBA. Is it hard? No, it’s not hard, it’s very hard. Does it affect your private life? Yes it heavily affects your private life. See, the syllabus says that 12-15 hours is the required time to go through the materials. In my experience this number is way too less. It’s even hard to get through the core readings within this time. It’s more or less impossible if you want to read further and have a look at the supplementary readings. I guarantee you that there are plenty of articles etc. you would or should like to read apart from the core readings. This has always been a trade-off for me. How far can I go but still finish in time? I guess once my MBA is over I have to read hundreds of articles saved somewhere on my drive. Additionally, I have bought quite a lot of books about some topics of interest which filled up my book shelve but were not “core” readings. Apart from the quantity to read I really can advise you to take thorough notes of what you have read. I use a mind map tool to be able to capture all relevant information of the articles, books etc. It’s fun to use it albeit the fact that you need some time to get used to it. (You can download a sample of my mind maps here) They have been a great help when we prepared for the exams. Finally, use the power of your group. My group might not have been the most hardworking group in the intake but our discussions were quite useful. Especially for the exam preparation it is more than recommendable to work together as people have different approaches and specialities. By the way we entirely rely on Skype to have our discussions. However, for the exam prep I flew over to spend one week in London to exchange thoughts with my fellows. So after all what’s been said would I go again for a Flexible learning course? Yes I would, as it’s how companies work together nowadays as well. They have to cut costs etc and therefore lot’s of conferences, projects etc. are done virtual. This is nothing else than what a Flexible MBA offers as well. To conclude this paragraph I just want to tell you that the most important ability you need to have to get through is: DISCIPLINE. Even if the weather is more like going for a BBQ or you are tired from work, or you would like to see some friends etc etc…..it’s all about discipline to plough through no matter what circumstances.

I hope this short reflection gives you an insight if you hesitate to go for a MBA. It’s worth but it’s lot of work as well. If you have any questions etc. don’t hesitate to leave a comment so that others will be able to join the discussion.

Stage 1 exams completed

Hi folks

Just a short notice that I had my stage 1 exams with Henley Business School. To cut a long story short: We we’re kind of over prepared. We went through the case studies and calculated and anticipated the most difficult scenarios ever just to realize that the questions were somehow in a different direction. Guess this learning will be definitely beneficial for the next written exams due in December already.

However, it’ll take some weeks to get the results back. Hopefully I’ll have passed as stage 2 begins in just a couple of weeks and I don’t want to go back to stage 1 materials again. So, I’m really looking forward to Strategic Marketing, Global business environment, Corporate Finance and Governance and last but not least Strategic Direction. I guess this stage really deserves it’s description being “Making Choices”.

Nevertheless, for now I’m just chilling, socializing and enjoy some days off MBA. Paying some attention to all those whom I have neglected the last 12 months. Thanks for your support in quite challenging times.

The next entry will be a quite reflective one about the life on a roller coaster being a MBA student….stay tuned.

Managing financial resources

Today was my first day at Henley Business School attending the MFR workshop. It’s quite a good feeling to be here again and meet all fellows.

The workshop is great so far, I have learned a lot and I’m very impressed about our tutors experience and knowledge. I guess that guy knows the answer to every single question out there in terms of accounting and economics.

However, there is a upcoming feeling of tension noticeable. Maybe because the first exams are actually just less than 4 months away and the tutors keeps mentioning what we have to consider when it comes to the exam prep.

But one by one…first I have to pass this module writing an assignment about managing financial resources. Very interesting stuff as it reveals a lot of interesting facts about my own company. On the other hand it’s just highlights how important it is for a manager to understand the economic and accounting principles to perform successfully. Most of the managers are somehow scared when it comes to these things. I’m convinced once you know how to read financial figures and build up ratios and the like you’ll be able to develop a sound understand how your company is working. There is a very true saying: “What gets measured gets done” and this is highly applicable in your company as well.

As a product manager I’m dealing day in and day out with figures, requests, requirements etc. from internal and external stakeholders. Managing financial resources enables me to glue all these tasks together and have a look at the bottom line as well. Not that bottom line is the only measurement but its a pretty good indication and it always should be taken into consideration.

So I guess there are intensive weeks ahead and I’m curious how I’ll cope with all these challenges at the moment. MBA, work, private life….very demanding currently.

HBS yard

Well, it’s been quite a few weeks since my last entry. To be honest, I’m a bit snowed under with work and the piles of required materials to read for my Henley MBA.

I’ve finished the second workshop at Henley Business School a couple of weeks ago. It was again a rewarding experience. I don’t know exactly how to explain the magic of being at Henley. As soon as you pass the entrance you’re in a completely different world. There is a kind of spirit which immediately embraces you and subsequently you just feel energized.

It was good to meet my group fellows from all over the world to discuss with them about the materials, thoughts, fears and feelings. Although we’re thousands of kilometres away from each other there’s an existing connection which I personally found extremely intriguing.

Topic of the workshop were the ongoing 2 modules: Managing People and Performance, Managing Projects, Systems and Processes. Useless to say that these topics really matters every day. We heard a lot about different kind of models and their application. I really enjoyed the content and the conversations and group work. I guess, I now understand some critical points about my company as well .

In the end time went by way too fast….I assume this is how it is if you’re truly immersed in something.

Anyway, I have to dig through the materials now knowing what’s required for the upcoming assignments. I wonder if especially MPP will have an impact on my company.

I would like to close with a citation about motivation at work:

There aren’t many motivating forces more potent than giving your staff an opportunity to exercise and express their idealism.

Anita Roddick / Business as usual

Took the first hurdle like Obama

I’m happy that I eventually have submitted my first assignment as part of Dynamics of Management. It was a long way towards the assignment, I have had to get used to the way I need to approach the topic etc. Wasn’t easy since my last studies are quite a few years away . However, I have managed it and have to wait until I’ll get my marks. Hopefully they won’t be too bad but I’m confident they will be sufficient.

Nevertheless, it was a fascinating start of the MBA journey and reinforced my wish to soak up all the materials.

As a reward I haven’t done anything but tanning and swimming today. Take some time for recreation is important otherways you will struggle throughout your studies.

So, tomorrow I’m going to start with Managing People and Performance and Managing Processes, Systems and Projects. According to the programme handbook it’ll be a  bit thougher and more time consuming than Dynamics of Management. That in turn means that I’ll have to improve my time management further. I guess it’s because one shouldn’t rest on its laurels.