No Promises

Two months. That's eight Friday's of clicking the "Dismiss" button on my Outlook Alert instructing me to "Post to Blog." It's a matter of priorities and waxing philosophical about my MBA efforts has not been one of them.

I'm now half way through the program and I've started working on my concentration coursework.

Sidebar: I didn't fully explain the concentration option at SMU in previous posts. Many business schools have a set curriculum for the MBA programs they offer. SMU allows its MBA candidates to focus on the specific disciplines after completing the core coursework. The program is 48 credits in length, 20 of which are dedicated to core coursework. The remaining 28 credits can be allocated as the student deems. My concentrations are Finance (14 credits required) and Strategy (14 credits required). So every one of my remaining courses will be either Finance or Strategy.

The ability to choose concentrations is a big selling point for SMU and was key for me. My undergraduate work was in liberal arts and appealed to the more qualitative side of business. Returning to school was partially motivated by the desire to bulk up on the quantitative skills. I can focus on that at SMU.

END SIDEBAR

Within my Strategy work I'm focusing on the more quantitative courses as well, specifically in Mergers & Acquisitions, Game Theory and Private Equity & Venture Capital. My Finance concentration courses will lean toward more of the Corporate Finance and Valuation side of the discipline.

This week has been spent going over my Spring '08 courses. I am applying for a course SMU offers through the Strategy department called the Venture Capital Practicum. When evaluating programs, be sure to research the types of Practicums (self-study/portfolio experience) they offer. This type of course is the laboratory for the classroom material. In my case, I will be assigned to a VC firm and manage a proposal and recommendation from a business seeking funding. I will perform the due diligence, evaluation, etc. and do so under the tutelage of the VC firm partners. Very valuable. I hope my application is competitive enough to be chosen.

This Fall semester also marks the beginning of a program that SMU offers that is virtually exclusive to the school: the Associate Board program. The name is misleading; the program is a mentoring program where SMU assigns area business leaders -- all senior executives -- with students interested in the industry/business in which the mentor works. I received the mentor I chose and have begun the process.

During the course of the mentor/mentee relationship, I can expect to build my industry contacts by 15-20 persons, learn hard skills for the industry, focus my resume for the industry, and on and on. This program is more valuable to me than my degree when it comes to securing a position in the industry and with the company I want to work. The degree is valuable, however, my mentor will help me lay the groundwork for post-Grad employment quicker than the degree.

This is a quick summary of some of the things going on. I make no promises that I will post more frequently, but hope to do so again in a few weeks.

Summer Semester, Module B Summary

I'm in the middle of my seventh and eighth program courses. Where does the time go? As a side note, those of you who are putting off joining a program because you don't have the time, reconsider. Time accelerates and compresses so much, you don't have the opportunity to consider what you've gotten yourself into. Just get started.

This module marks the first two classes that represent what I wanted to get out of this program:

• Marketing Management & Strategy; and
• Corporate Finance

Both professors are exceptional and leaders in their fields.

A word on course methodology: When deciding which school to attend, I implore you to dig deep about teaching style. I've had two professors that claim to use the case method thus far: one thought he used the method and the other actually uses the method. Case studies are - hands down - the best way to go through B-School. I can prove this empirically - ask me for the digression. Make sure that whatever school you choose, this is the primary methodology.

I will touch on material covered in each course in future posts.

Some Catching Up: Financial Accounting I

This class is one of the primary reasons I decided to go back to school. Since my undergrad work was primarily in the liberal arts arena (Bachelors of Applied Communications, Public Speaking Emphasis), I was not exposed to finance and accounting until I investigated the disciplines on my own and with the direction of the Personal MBA (reference Finance for Non-Financial Managers).

This course was one of my first two. SMU's Part-time MBA program used the modular structure: two courses, each 8 weeks in length, meeting once a week for a three hour session. This makes the courses compact and intense. I prefer it this way. I don't really have the opportunity to forget what was covered 16 weeks prior on the semester basis.

This introductory course is really broken up into two pieces: Part 1 and 2. Every MBA student can decide what subject matter to pursue in part two. I can either go after a more in-depth exploration of Financial Accounting according the GAAP, or I can delve into the more subjective world of Managerial Accounting. Each builds on the foundation Financial Accounting 1 provides:

1. An Overview of GAAP and Financial Statements
2. The Balance Sheet
3. The Income Statement
4. Financial Ratio Analysis
5. The Cash Flow Statement
6. Revenue Recognition (GAAP)

I am right now beginning week six (Revenue Recognition). I strongly suggest dedicating a lot of effort and time to mastering these fundamentals listed above.