Young and small, Fuqua has an advantage over the business school competition with its innovative curriculum and approach to learning. Students have four terms (of six weeks each) per year, meaning that they get a taste of many more subjects than students at most other schools. Fuqua’s emphasis has traditionally been on turning out general managers, although recent graduate classes have skewed more towards marketing. The only concentration that the school offers is its Health Sector Management program, which takes advantage of the school’s location in Research Triangle Park in North Carolina. If you are interested in biotech, pharmaceuticals, medical devices, or healthcare management, take a close look at this program.
Fuqua has also been aggressive in giving its students opportunities to study abroad, and currently has reciprocal exchange programs with 25 international business schools. Its Global Academic Travel Experience program provides students with the opportunity to travel abroad for a short period of time. GATE is extremely popular with students, with close to half of the class participating in the program for two weeks each year, Fuqua’s push to build its brand around the world means that it looks for applicants with global perspective. If you have international experience, be sure to emphasize it in your application. If you haven’t worked abroad, that is okay. You definitely don’t need to lie about wanting to spend your next five years in Hong Kong. Just demonstrating a willingness to work with people of other background is a great start.
Work in most classes is done in teams, and Fuqua’s graduates have gained a team-ready reputation that rivals that of Kellogg’s graduates. Students often refer to themselves as “Team Fuqua,” and they mean it. They also have reputation for being some of the most energetic and close-knit students at any business school. This is reinforced by the fact that Fuqua is a smaller school – approximately 700 full-time students in 2003. When you apply to Fuqua, make it clears that you understand what it means to be part of a smaller community, and spell out why it appeals to you. Along those lines, Fuqua students are heavily involved in everything going on at the schools. If you apply Duke, make sure that this is what you want out of your business school experience. Even more importantly, make sure to make that clear in your application through multiple examples of teamwork and involvement.
Fuqua’s focus on excellence in general management will definitely come out during the interview. Most interviews are conducted by students who are members of the admissions committee. It is therefore important to position yourself as a prospect that your interviewer would like to have as classmate. This means you should provide examples of professional excellence, but do so in a non-arrogant tone. In the back of his mind, your interviewer will be evaluating you as a potential team member in addition to evaluating you as a leader. If you have three years professional experience or less, you should also expect to receive questions on your ability to contribute in the classroom. Have a response prepared as to why “now” is a good time for you to attend Fuqua.
Fuqua has built a strong reputation, and it now attracts many of the same people who also apply to the Harvard and Wharton of the world. The downside for Fuqua is the some top applicants still view Fuqua as somewhat of a backup school, even though Fuqua’s acceptance rate is below 20 percent. This is evident in the school’s yield, which was 7 percent in 2001, more than 10 percent below that of other top schools. The school therefore looks for applicants who are interested in Fuqua for what it offers, not jus because it’s listed next to other big names in the rankings. In other words, the admissions committee wants to be sure that if they accept you, you will enroll. If you can demonstrate that you truly want to attend Fuqua – and why this is so – you will greatly improve your chances.
Sloan
Although not quite as well known as the other business school in Boston, MIT’s Sloan School of Management has combined the quantitative strengths of its parent school with a focus on entrepreneurship to establish itself as one of the most highly regarded programs in the technology and manufacturing industries, The school is also well-regarded on Wall Street, where Sloan grads are known for their quantitative abilities.
Sloan has traditionally been better known for turning out stronger analysts than business leaders, so the school is making a push to emphasize leadership in it curriculum. The school has appointed a Director of Leadership to create and run leadership programs at the school, as well as to coach Sloan student on their own leadership development. The school even encourages student to fill out a “Leadership Feedback Form” whenever they observe a fellow student in a leadership role. The school also encourages teamwork, and all first year students must complete a core project in teams. Sloan’s stated goal is to turn out “l(fā)eaders who innovate.”
As expected, the school’s curriculum emphasizes the quantitative side of business. Courses such as Finance and Statistics are as quantitative as you would expect, but Sloan also encourages students to apply the skills that they learn in these classes to nearly all of their coursework. Graduates speak highly of the hard skills that they learned at Sloan, so make sure that this is what you want out of your MBA experience. To get in, you will have to demonstrate that you are comfortable utilizing numbers, through your GMAT score, previous coursework, or job experience.
Sloan’s curriculum is also notable for its emphasis of “management tracks,” instead of traditional majors. The idea behind these tracks is to provide students with a broad study approach to certain functional area, such as Financial Engineering, Operations Management, and New Product and Venture Development. The tracks’ broad approach requires students to complete eight to ten classes per track. Students can also create their own tracks after their first semester at Sloan. Demonstrating your understanding of Sloan’s track system will help you show your enthusiasm for the program.
Entrepreneurship is big at Sloan, as characterized by students’ participation in MIT’s annual “$50K” entrepreneurship competition. The competition gives Sloan students the chance to develop a business plan and compete against students from other MIT programs for a chance to win the $30,000 grand prize. Successful tech companies such as Akamai got their start through the $50K competition, and student teams that get far in the program are often able to attract interest from potential investors and advisors.
One example of Sloan’s close ties to the manufacturing sector is its Leaders for Manufacturing program, a two ear joint degree program offered in conjunction with MIT’s School of Engineering, and operations management through a variety of in-class and on-the-job experiences, Students spend six-and-a-half months on-site as an intern with a sponsor company, culminating in a thesis. The best part of the program is that students receive a scholarship covering the full cost of tuition, thanks to sponsor companies including Boeing, Dell, Harley0Davidson, Intel, and P & G. The bad news is that the program is very exclusive – just 5 0students participate each year – but give it a look if you a re considering working in manufacturing after business school.
Sloan has a higher percentage of international student all of its peer schools – 40 percent of the class of 2003 came from abroad, Sloan students therefore tend to be surrounded by international classmates wherever they go. If you are looking to gain international experience, or just want to meet people from new cultures, this is an aspect of the program that may appeal to you. Make sure you demonstrate your enthusiasm for the schools’ diverse culture in your application, and make your case for why this matters to you, whether you are an American or an international applicant.
Michigan
The key to getting accepted into the University of Michigan Business School (UMBS) is to demonstrate balance across the four dimensions (leadership, innovation, teamwork, maturity) throughout your application. Regardless of the application component(s) in which you emphasize these dimensions, they should each make a couple appearances. It is imperative, therefore, that you take time to analyze your strengths and weaknesses for each of the dimensions before beginning the UMBS application.
UMBS is consistently recognized for its innovation and its focus on applying business principles to real-world scenarios. Both of these attributes are integrated in the learning model along with a solid dose of general management courses. A good example of this combination is UMBS’s Multidisciplinary Action Project. Students are required to work on teams in completing a seven-week project for companies pre-selected by UMBS. The projects are highly analytical and allow students to apply the skills they learned in the classroom to a variety of companies. For those who have inclinations that are more international or entrepreneurial in nature, UMBS offers its IMAP and EMAP programs. The latest example of UMBS’s application-based learning is the Tozzi Center. The Tozzi Electronic Business and Finance Center features a trading floor, an elliptical classroom, and a computer laboratory. The trading floor allows for dedicated, real-time access to the global markets. It is used for a multitude of financial class exercises and student projects. Having and displaying knowledge of these types of programs should be a major component of your UMBS application process.
Demonstrating the ability to apply business principles in a rational manner is especially important. Recruiters repeatedly complement UMBS grads on their practical approach, which has been a large reason for UMBS's success in the business school rankings. One applicant, who was recently accepted, displayed a practical approach by explaining how she identified a neglected growth opportunity within her business segment. The applicant took initiative by creating a marketing plan that focused on the opportunity and was able to see her idea through to implementation. These are the types of applicants UMBS seeks.
Given UMBS's focus on professional excellence, it is not surprising to see that accepted students have an average of five years of work experience. This should not discourage applicants with less professional work experience, but recognize that UMBS will especially want to know how you can contribute to the program if you have less than three years of work experience. You should anticipate being questioned on this point during your interview.
Almost all activities at UMBS are team based, so check your ego before beginning the application. Providing one or two examples of your teamwork capabilities should go a long way toward establishing fit with the program.
Overall, if you meet the baseline criteria, express the four dimensions, display knowledge about the learning model and exhibit passion for the school, you should be in a much better position to receive an acceptance letter from UMBS.
Over time, entrepreneurship has received greater attention at UMBS and it is now a major aspect of the learning model. The school has vast resources for aspiring entrepreneurs, such as the Samuel ZeIl-Robert H. Lurie Institute for Entrepreneurial Studies, which supports students as they explore their own business plans and start-up ideas. UMBS will continue to expand its support of entrepreneurial activities because it produces a virtuous cycle. Successful ventures led by students reflect positively on the curriculum, thereby attracting more potential students. The UMBS application process allows for ample opportunity to discuss innovative entrepreneurial ideas and those opportunities should be capitalized on. That is not to say that all applicants should be aspiring entrepreneurs, but to the extent that you can display entrepreneurial spirit, do so. That spirit can be expressed through an idea for a new business or through an idea for your current company. The admissions committee will certainly take notice of your penchant for entrepreneurship and hopefully recognize your ability to augment to the UMBS brand. Being recognized as a potential brand builder is a great way to move your application into the “yes” pile.
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