Eighty-eight students representing eight nations were recognized June 13 for having completed their MBA studies during the 2014-15 school year. The Oregon State MBA program features eight different tracks, and the graduation ceremony honored students from all eight: research thesis, commercialization, business analytics, marketing, accountancy, wealth management, global operations and executive leadership.

Prior to the ceremony, six MBA graduates one other College of Business student were inducted into Beta Gamma Sigma, an international honor society serving schools accredited by the Association to Advance Collegiate Schools of Business. The inductees were Sinae Cho, Casey Miller, Yuriy Mikitchenko,  Gary Phibbs, Kevin Russell, Halley Todd, and Phil Walter.

Erick Frack, president of Katapult Partners, LLC, and a 1981 College of Business graduate, delivered the keynote address at the MBA graduation ceremony. Frack’s talk centered around leadership, which he believes centers around caring about other people and listening to them.

“Your ability to show yourself as a good leader will help you more than anything,” Frack said.

Three of the MBA graduates also addressed the audience: Perren Baker (business analytics), Feng Qiu (research thesis) and Lauren West (commercialization). Baker urged his cohort to strive for a work/life balance, Feng talked about the challenges of being an international student while thanking his major professor, Keith Leavitt, for changing his life, and West told her fellow graduates, “When opportunity comes knocking, always say yes.”

The ceremony also recognized Grace Berczel, Casey Miller, Thomas Nguyen, Sara Kelley and Dan McCain for completing their combined doctor of pharmacy/MBA degree.

Following the 75-minute program, graduates and their guests repaired to Austin Hall’s third floor for a reception.

It was the second celebratory event of the day at Austin Hall, which in the afternoon hosted an outdoor reception for the College of Business’ newest bachelor’s degree recipients and their families and friends. Each of the 753 graduating seniors who stopped by received a COB business card holder as a gift from the college, and the event also included a photo booth and a group picture of all of the graduates on hand.

If your MBA experience is anything like mine was, it will be a whirlwind of activities, experiences, people and projects. At times it will feel like you can’t keep up, yet it will go by in an instant. To maximize your experience, I suggest using the summer before classes start to prepare. Here are my top five tips to get ready for business school:

1. Plan

Think about what you plan to accomplish before beginning your program. What companies/industries do you plan to pursue? What experiences (case competitions, job shadows, internships, etc.) put you in the best position to land those opportunities? Who can help you with your goal (see next section)? Do you want to study abroad? If so where and when? What electives do you want to consider? Thinking through these questions beforehand will help you maximize your time once classes begin.

2. Network

Now is a great time to meet your classmates, other students in the program, faculty, staff and alumni. You may ask the admissions team about starting a Facebook or Linkedin group for your incoming class. You may also want to reach out to alumni in your area to see if they can give you any tips about your program. If you live near campus, I recommend spending as much time as possible immersing yourself in the culture of your chosen school. It also makes sense to introduce yourself to the Career Success Center team and see if they have time to speak with you before the start of the term.

3. Read

As a business student, you will do a ton of reading, mostly business cases. To prepare, I recommend reading every business magazine/journal/website you can get your hands on. As you are reading, ask yourself questions: “What is the main point of the article?” “What arguments does the author use to support his/her point?” “What circumstances, if true, would strengthen or weaken the argument?” “If I was the CEO, what would I do in this situation and why?” These exercises will prepare you for the type of critical thinking and analysis required for success in your coursework. 

4. Math Review

If it’s been a few years since you’ve solved a linear equation, this is a great time to review some fundamentals of mathematics. There are a lot of free resources, like Khan Academy (https://www.khanacademy.org/) and Academic Earth (http://academicearth.org/) you can use to reacquaint yourself with algebra, statistics and maybe even a little calculus, just for good measure (and to help in your economics class). If you really want to hit the ground running, you might consider taking some online courses from MBA Math (http://mbamath.com/). While not free, the site offers a great review of MBA-specific math skills.

5. Relax 

While it’s smart to use the summer before business school to mentally prepare for the adventure ahead, it’s also a good idea to relax and recharge your batteries a little. This may be your last opportunity for a while to read a book for pleasure, go on vacation, visit friends or enjoy a hobby. Take advantage of it while you can.

As always feel free to drop me a line or leave a comment with any questions or other suggestions.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

Ask a typical MBA applicant what the most important component of his or her business school application is and you will probably hear GMAT score. While standardized test scores, undergraduate GPA and work/internship experiences are critical, I’m a big fan of one of the more underappreciated components of the MBA application: the letter(s) of recommendation.

Why? LORs offer unique insights on each applicant that aren’t available from the more standardized portions of the application. For example, a strong GMAT score doesn’t tell me if the applicant works well in teams. A high GPA doesn’t tell me if the applicant has the interpersonal skills to impress interviewers and alumni. Even a well-written essay or personal statement doesn’t tell me if the applicant is willing and able to capitalize on the myriad opportunities he or she will have in the MBA program to propel a career forward. High-quality LOR’s provide this information in spades.

What makes a strong letter of recommendation?

1. Details – Since most LORs are positive, it’s the more detailed ones that are most useful. It’s also helpful if the recommender outlines specific skills or strengths and can support them with details. For example, saying the applicant is a good manager is OK. Saying the applicant managed a team of 10 and a $50 million budget for five years, and during that time sales grew by 50 percent while turnover was nearly nonexistent, is much more descriptive and therefore more helpful.

2. Honesty – I once read a LOR stating that as an intern the candidate developed and launched a new product that sold more than 5 million units in its first year on the market. This seemed very impressive and I wanted to learn more. When attempting to contact the recommender, I learned that neither the company nor the recommender actually existed.  While this is an extreme example (and one that did not end well for the applicant), applicants sometimes coach their recommenders to only mention their positive attributes. In my opinion, offering some areas for improvement adds credibility to the recommendation.

3. Perspective – I like when recommenders introduces themselves and explicitly state their relationship with the applicant. Mentioning how long they have known the applicant provides some important context to the admission committee. In addition, contrasting the applicant with other employees they have managed, students they have taught or volunteers they have supervised helps illustrate the traits that make this applicant unique. For example a letter from a professor who states the applicant took her class and earned a B is ok. However, a letter that states that of the thousands of students she’s taught over her career, this applicant stands out due to his passion for the subject matter, work ethic and presentation skills is extremely helpful to the admissions committee.

Feel free to drop me a line or leave a comment if you have any questions about letters of recommendation or any other components of the MBA application.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

A team pitching a new company built around a veterinary diagnostic product was the big winner April 10 during the 13^th annual MBA Business Plan Competition.

Rian Kelsay, Miles Naughton, Huiying Huang and William Hohenschuh developed and presented their integrated business plan for Lasso Metrics, whose technology centers around a low-cost, paper chip designed as a platform for lateral flow assays.

The technology figures to allow various tests to be done at once, saving a veterinary clinic both time and money. Company founders are Vince Remcho of the Department of Chemistry and Shay Bracha and Jan Medlock of the College of Veterinary Medicine.

“We put in a lot of work, so it’s nice to see it turn out like this,” said Kelsay, whose team placed first in three of the four business plan competition categories en route to being named the overall champion among the five teams, made up of students in the MBA program’s commercialization track.

The competition culminated Friday evening with the Elevator Pitch and Shark Tank portion of the contest, held in Austin Hall’s Stirek Auditorium.

The pitch requires a member of each team to sum up the team’s plan to a potential investor in 55 seconds, roughly five floors’ worth of travel in an elevator. In the Shark Tank, team members work together to present to a group of possible investors and answer their questions.

The Lasso Metrics team triumphed in Elevator Pitch and Shark Tank category, followed by the one-person KW Associates team of Lauren West, and the DulsEnergy team of Andrew Maroon, Sijia Guo, Cody White and Mary Fedorowicz. That category carried a first-place prize of $500 to be shared by the team members.

The other categories were venture viability, technical merit and artistic merit, each with a $1,000 first prize. Results were as follows:

Venture viability: 1, Lasso Metrics; 2 DulsEnergy, whose plan centered around the sea vegetable dulse as a low-cost gourmet food; 3, Ink Shade Films. Ink Shade’s plan was built on a light-blocking, variable tinting for office and hotel windows and the team consisted of Yunfeng Wu, Laura Schaudt, Brian Serbu and Daniel Hough.

Technical merit: 1, KW Associates, whose technology is described as being “like an MRI for industrial processes”; 2, Lasso Metrics; 3, Ink Shade Films.

Artistic merit: 1, Lasso Metrics; 2, DulsEnergy; 3, Ink Shade Films.

In the overall standings, DulsEnergy finished second to Lasso Metrics, and Inkshade was third.

“It’s mind boggling,” said Naughton of his Lasso Metrics team’s performance in the IBP Competition. “To see it all the way from beginning to completion is really satisfying.”

 

 

 

 

 

 

 

Other than the GMAT, scholarship negotiations may be the most dreaded part of the MBA admissions process for many applicants. Despite what some students tell me, it doesn’t have to be adversarial or stressful, and it can actually enhance your relationship with the MBA Program Director or Admissions Director. Here are some tips for successful negotiations.

Do

1. Have realistic expectations

Many applicants go into the admission process expecting a full scholarship and are disappointed with any other award. Many variables go into a scholarship allocation, some of which are dependent on the applicant (grades, GPA, letters of reccomendation, test scores, interactions with the admission team, etc.). Other variables may have to do with the funding available in a particular academic year, the number of applicants and/or the internal goals of the specific program. An MBA is a valuable degree with a well-documented return on investment. Going in with the expectation that you are going to have to fund at least a portion of your education is a smart assumption for the vast majority of students I’ve worked with.

2. Communicate respectfully with all members of the MBA team

Most programs I’m familiar with track all interactions with prospective students. Being respectful to all MBA staff (including student workers and reception staff) demonstrates a level of professionalism that can only help your scholarship negotiation. The converse is also true. A few years ago, we revoked our offer of admission and scholarship to an applicant who was verbally abusive to our office manager over the phone.

3.  Ask not what the school can do for you …

In a scholarship negotiation, it may be in your best interest to communicate how you intend to support the culture of the organization and enhance the student learning community. For example, if you intend to get involved with student organizations, mention your interest in serving in a leadership role. If you have industry connections that may benefit other students, or if you have connections to other high-quality applicants, it makes sense to discuss them with the admissions director.

4.  Crunch the numbers

Before scheduling a conversation to discuss your scholarship, I recommend doing an analysis showing the gaps that exist between the tuition of the program you are considering and all available sources of funding (loans, grants, family support, savings, etc.) Knowing that number will help you negotiate more effectively. In addition, if the admissions director knows you are willing to exhaust all sources of funding before asking for additional assistance, it may increase your chances of a successful outcome.

5.  Try to schedule a direct conversation in person, or via Skype

A scholarship negotiation should be scheduled and done in person, if possible. This demonstrates respect for the admissions director’s time and shows you are serious about the program. When a face-to-face meeting isn’t possible, Skype is preferable to the phone because it allows you to maintain eye contact and check for non-verbal cues. Be sure to dress professionally for this conversation.

Do Not:

1.  Issue any ultimatums

When a student tells me they will only attend my program if they receive a full ride, or if we match what they received from another school, it demonstrates a lack of maturity and professionalism. More importantly, it is almost never successful. It’s a much better idea to use some of the tactics listed above to make a case for increased scholarship than to demand it.

2.  Compare offers between schools/applicants

MBA programs are not perfect substitutes; therefore, comparing your offer from a competing program is not a recommended strategy. As a Program Director, I do have some discretion with scholarship allocations and I’m going to use it to help those I believe are genuinely interested in our program. If I feel like a student is going to pick his or her school based solely on a scholarship offer, I almost never take the bait.

3.  Discuss your offer with other prospective students

A scholarship offer is personal and should be treated as confidential. Just as it is not advised to compare salaries at work, discussing your scholarship offer with other prospective students is detrimental to all parties. Telling me that I should increase your scholarship because someone else received a better one doesn’t only hurt you. It also has the potential to damage the other person’s relationship with the admissions committee. Your argument for increased funding should be based on your own needs (#4 above) and unique qualifications (#3 above).

4.  Burn any bridges

Even if the scholarship negotiation does not go well, be sure to remain cordial and professional with the admissions director. Why is this a good idea? A few years ago, I worked with a student whom I really liked but wasn’t able to meet her scholarship requirements. Even though she attended another institution, we stayed in touch and connected on LinkedIn. Last year, she emailed me to see if I could introduce her to one of my connections. That introduction led to a full-time job opportunity for her.

Drop me a line or leave a comment if you have any questions or additional suggestions.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

Applying to business school can be quite stressful. Most programs require an entrance exam like the GMAT to be considered for admission. Many students are forced to study for the GMAT while working full time and/or finishing up their undergraduate studies. It’s not uncommon for a student’s first attempt at the GMAT to not go well.

While not an ideal situation, a low GMAT score does not mean you should abandon your dream of earning your MBA. Many programs view candidates holistically and a lower GMAT score can be overcome if the rest of your application is strong. Below are a few strategies you may wish to consider if you believe your GMAT score is hurting your application.

1. Prepare and Retake the Exam 

Now that you have taken the test at least once, you have several advantages versus going in cold. You know the types of questions asked, the pace of the exam and how many questions you were able to answer in the allotted times. You also know how you did in each section. With this information, you can put together a strategy for improving your score the next time around.

If you struggled on the quantitative section, you may want to review some math concepts. Khan Academy (https://www.khanacademy.org/) is a wonderful, free resource that can show you step by step how to apply many of the concepts tested on the exam.

If you struggled in the verbal section, practicing reading comprehension can help you improve your score. Try reading articles in the Wall Street Journal, BusinessWeek and other business publications on a regular basis. If you can identify the main points of each article, and identify arguments that would strengthen or weaken the author’s main points, you should be in better shape during your next GMAT exam.

You can also download practice exams from www.mba.com. Generally speaking, you should be able to improve your score up to 100 points through additional practice and becoming more familiar with the exam. If your score is more than 100 points off from where you want it to be, you may want to consider taking an MBA prep course. Kaplan, the Princeton Review and others offer both online and in-person courses designed to help you maximize your potential on the GMAT.

 

2. Highlight Quantitative Qualifications in Application 

While the GMAT doesn’t measure students’ leadership skills, employability, ethical standards or ability to work in a team setting, it is a pretty good measure of their quantitative capabilities. If your GMAT score is low but you have earned good grades from a well-respected university in a tough subject, you may be able to make the case that you have a strong quantitative skill set but are just not a good test taker. Be sure to use the optional essay to highlight your performance in quantitative coursework if it will strengthen your application.  Also, be sure your resume outlines any technical certifications or job requirements. Finally, you may wish to ask your recommenders to highlight your quantitative capabilities in their letters of recommendation. The more details they provide, the more it helps your chances for admission.

 

3. Take a College Math Review Course 

If high school algebra is a distant memory, you may find it helpful to take a math refresher course before retaking the GMAT exam. Building (or rebuilding) the right foundation can make your studies much easier. Several Massively Open Online Courses (MOOC’s) including Coursera and EdX offer free courses in these areas. If you prefer a more traditional class, check your local community college course catalog.

 

4. Try the GRE

While similar to the GMAT, the GRE is a broader exam, typically taken by students applying to a non-business master’s program. More and more business schools (including Oregon State) are accepting the GRE in lieu of the GMAT. These schools typically convert your GRE score to an equivalent GMAT score (Here’s a link to the conversion tool if you are interested). Of course, you will want to make sure the schools you are considering do accept the GRE, and that taking the GRE in lieu of the GMAT won’t affect your scholarship eligibility.

Hopefully these tips can help you overcome a low GMAT score and get your MBA application back on track. If you have any other tips that have worked for you, please share them here.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

 

An MBA can be a hugely rewarding experience, from both a personal and professional perspective. I’ve worked with MBA graduates who have leveraged the degree to rapidly advance in their chosen career.  I’ve also seen students use the MBA to pivot and change careers into a more rewarding and/or lucrative opportunity. Most importantly, I’ve witnessed students take advantage of the numerous experiential learning opportunities embedded within the MBA curriculum to enhance their leadership, managerial and interpersonal skills and build their professional networks.

To fully optimize the MBA experience, students should explore their rationale for wanting the degree as early in the admissions process as possible. Based on conversations I’ve had with more than 1,000 prospective MBA students, here are three great and three terrible reasons for wanting an MBA.

Great Reasons:

1. “I want to change careers”

An MBA can provide many benefits to those looking to change careers. In addition to providing an opportunity to learn new skills (accounting, marketing, finance, operations, human resources, etc.), most MBA programs offer numerous networking opportunities with employers and alumni. In addition, full-time MBA program formats allow students to complete an internship between the first and second year of study. The successful completion of an internship can often lead to a full-time opportunity in the student’s new chosen field.

2. “I want to move from an individual contributor into a management or leadership role” 

Typically, the first few years of our careers are spent as individual contributors. As individual contributors employees utilize the technical skill sets learned as an undergraduate to perform tasks for others within the organization. For example, someone with a computer science background may start his career as an entry-level programmer for a large organization. His success in the organization may depend mostly on his technical skill set. However, to move into a management or leadership role a broader set of skills is required. This is where an MBA can add great value. MBA students learn about all aspects of the business, from the financing of new projects to marketing new ideas both internally and externally and the steps required to take an idea from the concept stage to a product.  In addition, MBA students have the opportunity to study the theories behind good management and leadership principles.

3. “I want to start my own business” 

Those looking to start a new business need a diverse skill set to develop, fund, market and operate their emerging enterprises. The broad nature of the MBA degree coupled with the numerous opportunities for experiential learning allow future entrepreneurs to learn and practice the skills they need to launch their own endeavors.

 

Terrible Reasons:

1. “I’ve heard an MBA is a ticket to a guaranteed 6-figure job” 

While it’s true MBA graduates typically earn more than their non-MBA counterparts, earning an MBA does not guarantee you a job, much less a high-paying job. The MBA degree provides a set of skills and opportunities that students must leverage to set their career on their preferred trajectory. Those seeking an MBA solely for financial reasons are often disappointed. Often, organizations willing to pay big bucks for top talent are looking for passion for the company, industry and role. 

2. “I don’t know what I want to do with my career, but if I get into business school, career services will get me a job”

I hear this one all the time. Some students believe once they get into an MBA program, it’s up to the placement office or career services to find a job for them. While most placement offices have helpful staff dedicated to helping students maximize their career search, it is ultimately up to the students to create and execute their job search strategy. Knowing the outcomes you desire before starting an MBA program can help you customize your experience (which classes you take, which activities you participate in, which alumni you network with, etc.), thus increasing the chances of meeting or exceeding your post-graduation career expectations.

3. “My parent/partner/friend/boss/colleague told me I should get an MBA because it helped them in their career”

While it’s great to get advice from trusted friends and family, it’s also important you see the degree adding value to your career and life. Earning an MBA takes time, effort and money. For those who see the benefits, it’s well worth it. But for those just going through the motions, it can be an arduous process with mixed results.

Drop me a line or leave a comment if you have any questions on the benefits of an MBA for you.

Brian Precious is the MBA Program Director at Oregon State University. He can be reached at: OSUMBA@OregonState.edu.

Everybody wants to make a positive impact in his professional career. Armed with an advanced degree in physics, I was lucky enough to land a job at a Silicon Valley research lab, working with engineers and scientists to develop advanced materials. The work was rewarding and engaging and met my need for technical creativity. However, as “cool” as our lab technologies were, I was often curious if our ideas ever ended up in a real product or enhanced someone’s life. 

It turns out the odds were stacked against us. Richard Maulsby of the United States Patent and Trademark Office estimates that less than 1 percent of issued patents are commercially viable. Surely we can do better! Industrial researchers, technology management professionals, entrepreneurs and funding agencies are increasingly interested in identifying the best ways to find the next great idea and move it to market.

A STEM degree can be a great pathway to a rewarding career, but business skills and perspective will significantly broaden your career options. Current estimates are that you will change your career five to seven times over your professional life. Hiring managers look for candidates with broad skills in addition to technical competence.

The Technology Commercialization track in the OSU MBA program can provide that perspective to enhance your technical skills, or enable a career in technical management. In the Integrated Business Project (IBP), MBA students work to develop commercialization plans for selected technologies from OSU researchers, actual startup companies and other sources. Teams evaluate markets, talk with potential customers and develop a strategic plan to move their technology to market. At the OSU Advantage Accelerator we are actively interested in the plans developed by our MBA teams for their startup potential. The skills you develop in the Technology Commercialization track will serve you well regardless of your career plans: as an entrepreneur or a technology manager, or in business development.

John Turner, Ph.D. is the co-director of the OSU Advantage Accelerator. He can be reached at john.turner@oregonstate.edu.

One of the most common questions I receive from prospective MBA applicants is whether they should go straight from their undergraduate studies into an MBA program or work a few years before returning to earn their degree. Like many topics in the MBA world, the answer is “it depends.”

Working three to five years before returning to school can be advantageous if you plan to use your MBA to change careers. The combination of academic and experiential learning inherent in an MBA program can facilitate a career transition into a related or completely disparate field. Other advantages of waiting include the ability to bring real-world examples to classroom discussions and group projects (faculty love this), increased credibility with recruiters/employers and greater MBA program options as some programs only accept those with work experience.

However, if you’re an undergraduate don’t put your GMAT prep materials in storage just yet. Entering an MBA program immediately upon graduation has some advantages as well. First off, being in academic mode eases the transition to graduate school (imagine taking a rigorous course after being out of school for five years). Also, an MBA can positively differentiate you from your peers. Imagine how much more impressive you will be with an expanded knowledge of business fundamentals, opportunities to refine your leadership skills and extensive experience working on group projects, often on multicultural teams. It can also be easier for an early-career student to focus on the holistic MBA experience because often, older students have to juggle family and other commitments in conjunction with their studies.

Bottom line, an MBA is valuable regardless of whether you decide to pursue it immediately upon graduation or after working a few years. If you know an MBA is in the cards no matter what, it may be best to work a few years. However, if you are close to graduation and want to expand your career options, going right into a quality MBA program can be a great career move.