Top MBA Programs

Posts Tagged ‘consultants’

Why the United States?

Consider this

(1) The U.S is the birthplace of the M.B.A and continues to innovate in management education, includes a thorough, rigorous case study driven format with lectures who are not “plain o’l theoreticians” but practicing consultants (Often the MBA will give you exposure to live consulting assignments that not only bring in knowledge but also bring in valuable U.S experience on your resume!)

(2) A U.S degree opens up doors worldwide – other than the U.S itself, you will be recognized in any other country in the world – be it Timbuktu or the UK! Conversely, a degree from say, New Zealand, may carry value in New Zealand but may not be well recognized/immediately recognized beyond New Zealand! That does restrict your choices to the single country! Figures indicate that the United States hosts the most number of international students than any other country in the world. U.S. MBA programs are well recognized and MBA schools in US constantly top world rankings. An MBA degree from a University in US is highly sought-after by employers worldwide.

Which one of the top MBA schools in US should I choose?

To make it simpler for aspirants we have divided the MBA schools in US into four clusters in order of their latest rankings. Depending on various factors such as your GMAT score, professional profile and experience, scholarship goals and other specific-to-you details, you can plan to apply to a given cluster/group.

Top 10 and Ivy Leagues

Top10: This group includes The University of Chicago (Booth), Harvard University, Northwestern University (Kellogg), University of Pennsylvania (Wharton), University of Michigan (Ross), Stanford University, Columbia University, Duke University (Fuqua), MIT (Sloan), and UC Berkeley (Haas) Ivy League Member Institutions: Dartmouth College, Columbia University, Cornell University, Harvard University, Princeton University, University of Pennsylvania and Yale University and Brown University

Top 11 – 30: This group includes Cornell University (Johnson), Dartmouth (Tuck), NYU (Stern), UCLA (Anderson), Indiana University (Kelley), University of Virginia (Darden), UNC – Chapel Hill (Kenan-Flagler), Southern Methodist (Cox), Carnegie Mellon (Tepper), University of Notre Dame (Mendoza), Texas – Austin, Brigham Young (Marriott), Emory University (Goizueta), Yale University, University of Southern California (Marshall), University of Maryland (Smith), University of Washington (Foster), Washington University (Olin), Georgia Tech, and Vanderbilt University (Owen)

Top 30 till ranked: This group includes Arizona State University (Carey), Babson, Boston University, UC Irvine (Merage), University of Connecticut, George Washington University, Georgetown University (McDonough), Illinois at Urbana-Champaign, University of Iowa (Tippie), Michigan State (Broad), University of Minnesota (Carlson), Ohio State University (Fisher), Purdue University (Krannert), Rochester (Simon) and Thunderbird.

Other reputed U.S. Programs Also Considered for Ranking: This group includes American University (Kogod), University of Arizona (Eller), Boston College (Carroll), University at Buffalo, UC Davis, Case Western University (Weatherhead), University of Florida, Florida International University, Fordham University, University of Georgia (Terry), Howard University, University of Miami, Northeastern University, Pennsylvania State University (Smeal), Pepperdine University (Graziadio), University of Pittsburgh (Katz), Rice University (Jones), Rutgers University, University of South Carolina (Moore), Syracuse University (Whitman), University of Tennessee at Knoxville, Texas A&M, Texas Christian University, Tulane University (Freeman), Wake Forest University, William and Mary (Mason), and University of Wisconsin-Madison

What do I need to make it to a top MBA school in US?

The following are key eligibility criteria for applying to top MBA Universities in the US:

Minimum education criteria of 16 years i.e. four years of education after Junior College/High school GMAT score of 650 and onwards Good TOEFL score / Essays Stable Work Experience with good position/designation/responsibility and salary growth (preferred 2 years+) Good/stable/consistently performing academic record Really well done and well presented admissions essays, recommendation letters and a US Pattern resume

The whole essence of MBA universities in US preferring aspirants with good prior work experience is that such students can easily apply their experience to the theoretical concepts they meet in the classrooms. As management is no hard science, the most essential quality that all MBA schools in US try to groom students in – is to make right decisions by choosing the best options available. Most top MBA schools in US believe that experienced professionals offer specialized perspectives along with professionalism and maturity to the program. Thus the quality of work experience also matters while your selection in top MBA programs in the US.

What is the process I need to follow?

Your admissions are supposed to get tougher as you go higher up the rankings. In order to get a top MBA school in US, you must have attained strong academic records with high test (GMAT) scores; obtained sufficient financing, developed good command over English and stellar work experience. The admission process is a long one and usually begins quite a few months before you start your MBA program in the US.

Immigration: The Immigration and Naturalization Department (INS) holds the authority to grant you the permission to enter US legally. There are various requirements from good health to your duration of stay etc which needs to be satisfied before your entry into an MBA university in US.

How should I Finance my dream?

One should have a clear idea about the cost he is going to incur for a MBA program in the US beforehand. This is because you are required to prove you have the necessary financial resources in order to obtain an international student visa. The cost can be high but be rest assured that an MBA in US is an investment that will benefit you for the rest of your life. One can apply for scholarships for international students or even international students loan to finance his MBA program in the US.

What after MBA in the US?

The American MBA works as an entry ticket to great companies across the globe. The United States is a diversity driven economy that rewards (a) Hard Work (b) Focus. Assuming that these criteria are met, you will reap the finest rewards for your talents, efforts and investments on American shores.

“An expert is someone who lives more than 50 miles out of town
and wears a tie to work.”
- Bryce’s Law

INTRODUCTION

The need for outside contract services is nothing new. IT-related
consultants have been around since the computer was first introduced for
commercial purposes. Today, all of the Fortune 1000 companies have consultants
playing different roles in IT, either on-site or offshore. Many companies are
satisfied with the work produced by their consultants, others are not. Some
consultants are considered a necessary evil who tackle assignments
in an unbridled manner and charge exorbitant rates. For this type of
consultant, it is not uncommon for the customer to be left in the dark
in terms of what the consultant has done, where they are going, and if
and when they will ever complete their assignment. Understand this, the
chaos brought on by such consultants are your own doing.

IT consultants offer three types of services:

Special expertise – representing skills and proficiencies your
company is currently without, be it the knowledge of a particular
product, industry, software, management techniques, special
programming techniques and languages, computer hardware, etc.

Extra resources – for those assignments where in-house
resource allocations are either unavailable or in short supply,
it is often better to tap outside resources to perform the work.

Offer advice – to get a fresh perspective on a problem, it
is sometimes beneficial to bring in an outsider to give an
objective opinion on how to proceed. A different set of eyes
can often see something we may have overlooked.

Whatever purpose we wish to use a consultant for, it is important
to manage them even before they are hired. This means a company
should know precisely what it wants before hiring a consultant.

ASSIGNMENT DEFINITION

Before we contact a consultant, let’s begin by defining the
assignment as concisely and accurately as possible; frankly,
it shouldn’t be much different than writing a job description
for in-house employees. It should include:

Scope – specifying the boundaries of the work
assignment and detailing what is to be produced. This
should also include where the work is to be performed
(on-site, off-site, both) and time frame for performing
the work.

Duties and Responsibilities – specifying the types of
work to be performed.

Required Skills and Proficiencies – specifying the
knowledge or experience required to perform the work.

Administrative Relationships – specifying who the
consultant is to report to and who they will work with
(internal employees and other external consultants).

Methodology considerations – specifying the methodology,
techniques and tools to be used, along with the deliverables
to be produced and review points. This is a critical
consideration in managing the consultant. However, if
the consultant is to use his/her own methodology, the
customer should understand how it works and the deliverables
produced.

Miscellaneous in-house standards – depending on the company,
it may be necessary to review applicable corporate policies,
e.g., travel expenses, dress code, attendance, behavior, drug test, etc.

Many would say such an Assignment Definition is overkill. Far from
it. How can we manage anyone if we do not establish the rules of the
game first? Doing your homework now will pay dividends later when
trying to manage the consultant. Assignment clarity benefits both
the customer and the consultant alike. Such specificity eliminates
vague areas and materially assists the consultant in quoting a price.

SELECTING A CONSULTANT

Armed with an Assignment Definition, we can now begin the
process of selecting a consultant in essentially the same manner
as selecting an in-house employee. Choosing the right consultant is
as important a task as the work to be performed. As such, candidates
must be able to demonstrate their expertise for the assignment. Certification
and/or in-house testing are good ways for checking required skills
and proficiencies. Also, reviewing prior consulting assignments (and
checking references) is very helpful. Examining credentials is
imperative in an industry lacking standards. For example, many
consultants may have a fancy title and profess to be noted experts in
their field but, in reality, may be nothing more than contract
programmers. In other words, beware of wolves in sheep’s clothing.

Ideally, a consultant should have both a business and technical
background. True, technical expertise is needed to perform IT
assignments, but a basic understanding of business (particularly your
business) is also important for the consultant to adapt to your
environment. This is needed even if you are using nothing more than
contract programmers.

In terms of remuneration, you normally have two options: an hourly
rate or a fixed price. For the former, be sure the work hours are
specified, including on-site and off-site. Many clients are
uncomfortable paying an hourly wage for an off-site consultant. Under
this scenario, routine status reports should be required to itemize
the work performed and the time spent. However, the lion’s share of
consulting services are based on a fixed price contract. Here, the
role of the methodology becomes rather important. Whether you are
using “PRIDE” or another Brand X methodology, it is important the consultant
and client both have a clear understanding of the project’s work
breakdown structure, the deliverables to be produced, and the review
points. From this, an effective dialog can be communicated in terms
of managing the project. Further, the methodology becomes the basis
for the preparation of estimates and schedules.

After examining your candidates, it now becomes necessary to
balance the level of expertise against price. Sure, a senior
person can probably get the job done in less time, but perhaps
the costs may be too high for your budget. “Expertise” versus
“expense” becomes a serious consideration at this point.

Whomever is selected, it is important that a written agreement
be prepared and signed. The agreement should reference the Assignment
Definition mentioned above and any other pertinent corporate
verbiage. Very important: make sure it is clear that the work
produced by the consultant becomes your exclusive property (not the
consultant’s). Further, the consultant shouldn’t use misappropriated
work from other assignments. Finally, add a clause pertaining to
workmanship; that the consultant will correct at his/her expense
any defects found; e.g., defective software, data base designs, etc.

MANAGING THE CONSULTANT

The two most obvious ways to manage consultants is by having
them prepare routine status reports and project time reports. Such
reports should be produced on a weekly basis and detail what the
consultant has produced for the past week and detail his/her
plans for the coming week. You, the client, should review and
approve all such reports and file accordingly.

A methodology materially assists in tracking a consultant’s
progress. As a roadmap for a project, the methodology takes the
guesswork out of what is to be produced and when. Without
such a roadmap, you are at the mercy of the consultant. Along
these lines, I am reminded of a story of a large manufacturing
company in the UK who used one of the large CPA firms to
tackle a major system development assignment. The system was
very important to the client, but lacking the necessary in-house
resources to develop it, they turned to the CPA firm to design and
develop it. Regrettably, the client didn’t take the time
to define the methodology for the project and left it to the
discretion of the CPA firm. The project began and the CPA
firm brought on-site many junior staff members to perform
the systems and programming work. So far, so good. However,
considerable time went by before the client asked the senior partner
about the status of the project (after several monthly invoices). The
senior partner assured the client that all was well and the
project was progressing smoothly. More time past (and more
invoices paid) with still nothing to show for it. Becoming
quite anxious, the client began to badger the consultant as
to when the project would be completed. Finally, after several
months of stalling, the consultant proudly proclaimed “Today
we finished Phase 1….but now we have to move on to Phase
2.” And, as you can imagine, there were many more succeeding
phases with no end in sight.

What is the lesson from this story? Without a methodology roadmap,
it is next to impossible to effectively manage a consultant. The
project will lose direction almost immediately and the project will
go into a tailspin. The only person who wins in this regard
is the consultant who is being paid regardless of what work
is produced. Instead of vague generalities, you, the client,
have to learn to manage by deliverables.

CONCLUSION

My single most important recommendation to anyone considering
the use of outside consultants is simple: Get everything in
writing! Clearly define the work assignment, get a signed
agreement spelling out the terms of the assignment, and
demand regular status reports.

I am always amazed how companies give consulting firms
carte blanche to perform project work as they see fit. Abdicating
total control to a consultant is not only irresponsible, it is
highly suspicious and may represent collusion and kickbacks.

There is nothing magical in managing consultants. It requires
nothing more than simple planning, organization, and control. If you
are not willing to do this, then do not be surprised with the results
produced. Failure to manage a consultant properly or to adequately
inspect work in progress will produce inadequate results. So, do
yourself (and your company) a favor, do your homework and create a
win-win scenario for both the consultant and yourself.

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