Cities with most global appeal

New York ranks first as a global business centre in a worldwide survey of cities, London, Paris, Tokyo and Hong Kong all trail the Big Apple on the Global Cities Index. But Beijing and Shanghai emerged as potential rivals within 10 to 20 years, according to the index.

The survey - conducted by Bloomberg and consultancy A.T. Kearney - examined 66 of the world's busiest commercial urban centres, judging each on the scope of its business activity, labour force, access to media and information, cultural amenities and political influence. The goal was to find a measure that would help corporate and government decision-makers determine which of the world's cities will best attract and shape the future flow of people, ideas, capital and goods.

New York may be challenged to retain the top spot. Trends that may reduce its influence include "the growing chasm between the very rich and the poor," said James Parrott, chief economist at the Fiscal Policy Institute, a New York-based research and education organization backed by organized labour. "It weakens our consumer base, makes it harder for the city to remain a truly open society with lots of opportunity, and - although it's a national problem - not enough local leadership has been focused upon redressing that."

Polarization over politics in Washington, driven by "backward-looking perspectives held by people who even deny the reality of climate change, presents a risk for the city and the US in competition with the rest of the world in the 21st century," Parrott said.

(03.05.2012) Sources: Bloomberg

Managing energy's biggest risk: leadership

In the past, CEOs in the energy industry devoted much of their time to strategy. Today, CEOs in the sector, tell the executive search consultants from Egon Zehnder International that they spend far more of their time dealing with external stakeholders, making sure the voice of the industry is being heard by governments and managing boards that have become highly risk-averse, short-term focused and bureaucratic. As a result, "the industry faces what could become the biggest risk of all: a shortage of future chief executives and top leaders who have the requisite competencies for navigating this complex new world", write the consultants.

The role of CEO of an energy company requires new leadership skills: the ability to act as the public face of the company in an era of unprecedented "headline" risk, to diplomatically champion upside potential with wary boards that tend to focus on down-side risk, and to engage with policy makers and regulators to help the public understand energy's critical role in a growing global economy.

Many of today's energy CEOs spend more time on leadership development than ever before. They know that the typical development path of many of today?s top executives did not take into account the unforeseen changes in the CEO role. And they know that their companies have to compensate for that gap ? and soon, especially given the coming "silver tsunami" of experienced leaders retiring.

(03.05.2012) Source: Forbes

The multi-talented MBA

ONE argument which is often trotted out in favour of a liberal-arts curriculum, at least for undergraduates, is that being exposed to a variety of subjects leaves the mind supple and agile. Knowledge of accounting, say, is all well and good for standard problems, but to embark on fundamental change it is better to think as a biologist or philosopher would. If this is true, then the fifth of American college students majoring in business would seem to have put themselves at a disadvantage.

Your correspondent was reminded of this while browsing the winter issue of the MIT Sloan Management Review. In one piece, Leonard Berry of Texas A&M University, Ann Mirabito of Baylor University and Gale Adcock of SAS Institute, a software firm, describe how SAS takes care of its employees’ health-care needs on-site:

The SAS Health Care Center, which started modestly in 1984 and now has a staff of 55, including four physicians and 10 nurse practitioners, does not charge for services and collects no copays. Same-day appointments are common, and care is unhurried; clinicians may spend 30 minutes or more with a patient... As its own health insurer, SAS avoids the cost of paying staff to negotiate claims payments with insurance companies, as most private medical practices have to do. And SAS estimates that each on-site patient visit saves two hours of employee work time because the individual remains on campus, resulting in productivity savings of $3.6 million in 2010. 

Thirty years established, SAS’s approach sounds charming and useful. But it would take an enormous amount of work to implement something similar from scratch. The tasks involved might include: designing the facility; hiring doctors, nurses, and other health staff; establishing relationships with hospitals; buying equipment; and explaining to employees how to take advantage of the new service. One would need a background in health economics, or a willingness to learn a great deal, quickly. (Perhaps it’s worth noting that Ms Adcock did not start out with a business background, but as a nurse.)

The Management Review also features an interview with Dave Stangis, vice president of corporate social responsibility and sustainability at Campbell Soup. Mr Stangis has a broad title, but until reading the interview you might not have guessed that his responsibilities include negotiating the installation of solar panels at three different sites (in two countries), educating shipping partners on environmental certification programmes, and worrying about the health of children in Camden, New Jersey. Unlike Ms Adcock, Mr Stangis does have an MBA, from the University of Michigan.

Most likely neither Ms Adcock nor Mr Stangis, if asked at the start of their career, would have been able to predict their current duties with any accuracy. This might well be something for aspiring MBAs, especially those who still have other educational possibilities open, to keep in mind. A broad-minded approach to education now might well make for a much more interesting job in future.

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Too old? Too young? What’s the right age for business school?

Barbara Bierach

Typically, business students enter graduate school with a first degree and about five years of work experience, meaning they are generally in their late 20s –an age where change is still part of the lifestyle. People in their 40s and older on the other hand are rather settled in their careers and work at a level where additional skills don’t necessarily guarantee substantial plus on the payback.

For some people, though, business school is right regardless of age. Philip Delves Broughton, an author who graduated from Harvard Business School in 2006 writes: “Overconfidence can occur at any age, but it seems to be rarer among those who have done more between university and business school than spend a couple of years knocking around with like-minded souls on a management or analyst program. But experience also has its risks, notably overbaked assumptions and habits that can be hard to change.”

A graduate degree can increase career options at any age. For people over 35 it can for example help to move from a small entrepreneurial environment to a larger cor-porate one. Or it can assist to acquire the skills for a new start in a different industry.

Nevertheless, today’s GMAT-takers are younger than the degree seekers of the past. According to the Graduate Management Admission Council, 37 per cent of those who took the test were under the age of 25 in 2007. In 2011, this number in-creased to 44 per cent. The percentage of test-takers over the age of 31 in the same timeframe has dropped to 16 per cent.

Some institutions are catering to those who wish to enter graduate programmes sooner. At Harvard Business School for example students can apply for a spot in a so called 2+2 Programme. According to the school’s website, those who are ac-cepted into this track spend two years after college working and then an additional two years taking MBA courses. The Sellinger School of Business and Management at Loyola University Maryland offers an Emerging Leaders MBA. The average age of students enrolled in this 12 months long track is 24, and 6 out of 10 are immediate college graduates.

In many European schools on the other hand, the median age of students entering a full-time programme is considerably higher, at Insead for example it is 28, at IMD it’s 30.

And then there is always the alternative of an Executive MBA where the average age of most candidates is between 30 and 40. A few business schools featured in the QS TopExecutive statistical review have candidates with an average age of 40 plus, including the University of Tennessee, Knoxville and the Helsinki School of Economics, which offers its Executive MBA in Finland, South Korea and Singapore. National University of Singapore, HEC Paris, Athabasca University in Canada, Melbourne Business School in Australia and the Paul Merage School of Business at the University of California, Irvine,he Trium Global Executive MBA from NYU Stern, HEC and London Business School also have an average candidate age of 40.

Sources:

BusinessweekU.S. NewsQS TopMBA

15 Myths and Misconceptions About Job-Hunting

by Randall S. Hansen, Ph.D.

How much of a job-hunting expert are you? Read over these 15 myths and misconceptions about job-hunting and see how many of them you believed in and how many you knew were incorrect. Once you know the truths about job-hunting, you should have more job search success -- and less stress.

Myth 1: Registering at Several Internet Job Boards Will Result in Multiple Job Offers
One of the most prevalent misconceptions in job-hunting is that job-hunting on the Web is some magic elixir that will result in employers lining up to interview you. While job-hunting on the Web should be one component of a job search for most job-seekers, it should not be viewed as having any higher success rates than applying to help-wanted ads in the newspaper or trade magazines. Only about 5 percent of job-seekers obtain jobs through ads. 



Myth 2: Want Ads and Other Job Postings Represent the Majority of Jobs Available
At the very most -- and some say this number is too high -- only about 15-20 percent of all available jobs are ever publicly advertised in any medium. The vast majority of job openings are part of the "hidden" or "closed" job market. And the higher the position and salary, the less likely the position will be advertised at all. How can job-seekers discover these jobs? Through networking. Networking is by far the most effective job search tool you can use. Networking is all about building relationships with people who can help you in your job search; it doesn't mean that you need to ask everyone you know if they have a job for you. 

Myth 3: Job-Seekers Who Change Jobs Often are Frowned Upon by Employers
The notion of "job-hoppers," those job-seekers who had multiple jobs with short stays listed on their resumes, has been disappearing for years. Ever since the great "downsizing" and "rightsizing" of companies during the 1980s and 1990s, employers have recognized that there rarely is any logical progression -- or corporate ladder -- within any one company anymore. To get ahead and gain new skill sets, job-seekers often need to make multiple moves. Avoid really short stints -- under a year -- but otherwise don't be too concerned with moving around. And if you are concerned, focus on your transferable skills with a functional rather than chronological resume. 


Myth 4: A Cover Letter is Not as Important as Other Job-Hunting Materials
Every time you apply for a job, you should send a cover letter written specifically for the position and company you are applying to. The only exception to this rule is when the employer explicitly states that it does not want a cover letter. A cover letter, also known as a letter of introduction or letter of application, must be an integral part of your job-search strategy. A resume is useless to an employer if s/he doesn't know what kind of job you are seeking. A cover letter tells the employer exactly what job you are seeking -- and how you are uniquely qualified for that position. 


Myth 5: A Resume Must Show a Logical Progression of Jobs and Increased Responsibility
The most important part of a resume is showing that you have the skills, education (or training), and experience that the employer seeks. Most employers will spend less than 20 seconds reviewing your resume, which means you need to focus on the key components of your resume that will result in getting a job interview.

Myth 6: As Long as You're Sending out Cover Letters and Resumes, You'll Get Interviews. Maybe in the tightest of job markets, or maybe if you are only applying to specific positions for which you are perfectly qualified, will this kind of passive job-search strategy produce any job interviews. Job-seekers must be proactive in your job search. You must follow-up every job lead. Call employers and request an interview. If you are under-qualified for a position or changing careers, request an interview anyway. You may not be qualified for that specific position, but the employer may have other openings (or know of other openings).

Myth 7: Lowering Your Salary Demands Will Make You a More Attractive Job Candidate Job-seekers should never lower reasonable salary demands because doing so will just make you appear desperate for the job -- and will likely result in your not getting the job offer. And even if you got the offer and accepted it, you would most likely never be happy in your job or with your employer because you would feel you were cheated out of the salary you deserved. As long as your salary demands are within acceptable range for the job you're seeking as well as the industry and location of the employer, stick to them. And never be the first to bring up salary; let the employer raise the issue. 


Myth 8: If You Can't Schedule Job Interviews Between 9 am and 5 pm You're Out of Luck While it's certainly true that a majority of job interviews are conducted during traditional business hours, employers will certainly find time during "off-hours" to interview desirable job-seekers. And it's often better to interview during these times because there are fewer distractions. 
Myth 9: The Most Qualified Job-Seekers Get the Best Jobs
Probably the biggest misconception about interviewing, it is not always the best qualified person who gets the job, but the job-seeker with the best mix of qualifications, interviewing skills, and rapport with his or her interviewer(s). So, don't be too cocky if you feel you are the most qualified person for the job - and don't be too discouraged if you don't feel you exactly match up with the job. If you get a job interview, it's because the employer thinks there is a strong enough match of your skills, education, and experience to do the job -- and at the interview, you need to prove why you are the best person to fill the job. 


Myth 10: Headhunters and Executive Recruiters Have Your Best Interests at Heart
Headhunters and executive recruiters get paid by the companies that hire them to fill their open positions, so where exactly is their loyalty? With their client companies, of course. Recruiters will not market job-seekers to companies; instead, they try to fit job-seekers into well-defined positions with the companies that employ their services.


Myth 11: Changing Careers is Nearly Impossible. As the workplace continues to change and evolve, more and more people will change careers in their lifetimes -- and many will change careers multiple times. As long as you have a plan and do your best to stick with it, you should be able to switch careers. That said, switching careers is not easy. It takes much effort to switch careers and may involve getting more education (or training), getting experience in the new career field, and focusing on how the skills you currently possess transfer to the new career field.

Myth 12: Job-Seekers Should Not Have to Sell Themselves to Employers
For better or worse, job-hunting is all about marketing yourself to employers -- which often means using some key selling skills to close the deal and get the job offer. You are the product, and you need to show the employer why you are the best product for the job. In today's job-hunting environment, the most successful job-seekers are those who understand the value of marketing and apply to themselves those principles that companies have used for years to successfully sell their products.

Myth 13: If You're Over 50, You Will Have a Hard Time Finding a Job
The baby boomers (those born between 1946 and 1964) are completely redefining the meaning of age and older works, and thus older workers should theoretically have a lot fewer problems finding new jobs than in the past. The critical issues are whether you have the skills, education, and experience that the employer seeks -- and whether all those are current. You also have to have the proper attitude -- that you are a team player, not a seasoned professional who knows all the answers and is unwilling to change. And, of course, if you are employed in an industry that focuses more on youth, then it may still be harder for you to find a new job. 


Myth 14: It Takes One Month of Job Searching for Every $10,000 of Current Salary
No one seems to know where this calculation comes from -- and no one has ever substantiated it. The fact is that every job search is different. And external factors such as the economy and demand for your particular set of skills and experiences will impact your search time. Noted career expert Richard Bolles (of What Color is Your Parachute?) states in a Q&A we conducted with him: "I think people adopt unrealistic guesstimates about how long their job hunt is going to take. We should expect that our job-hunt may take months, but if we persevere, we will find a job."

Myth 15: When Times are Tough, Take the First Job Offer You Get
In all my years of experience, the one truth is that job-hunting is streaky. You'll have weeks where you interview for positions and you are sure you'll get an offer and no offer ever comes, and then there will be weeks when you get multiple interviews and perhaps multiple offers. Should you take the first job offer that comes along? Only if you are sure that the job and the compensation represent the right career move. If not, a better offer will come along -- and as long as you are not about to lose your house or suffer other financial or emotional consequences, you should hold out for the job offer that best fits the direction you want to move in.

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Award-Winning, Ivy League Educator to Lead Jack Welch Management Institute at Strayer University

Strayer University today announced the appointment of Daniel Szpiro, Ph.D., an award-winning instructor and expert on financial management from Cornell University, as dean of the Jack Welch Management Institute (JWMI). Dr. Szpiro’s appointment is effective June 11, and follows his most recent position as associate dean for executive education at Cornell University’s Johnson Graduate School of Management.

“Bringing Danny Szpiro on as our academic leader is a huge achievement for us and absolutely integral to our mission of being the best, most impactful, highest-quality online MBA in the world,” said Jack Welch, founder of the Institute, and an active presence in the running of the program and its curriculum. “The JWMI MBA and its certificate programs are all about teaching business ideas and practices that you can put to work immediately to make your organization run better and smarter in every way. Along with his impressive academic credentials, Danny’s background in Executive MBA education at Cornell makes him the perfect fit for us.”

In his new role, Dr. Szpiro will lead all aspects of the Institute’s academic function, including oversight of faculty, curriculum development, and instructional delivery.

“In addition to his expertise in online delivery models, Dr. Szpiro brings a wealth of experience and deep knowledge of business leadership to this role,” said Strayer University President Michael Plater, Ph.D. “The Institute’s students will also benefit greatly from his more than 10 years of experience in private industry, where he held numerous senior financial and strategic management roles.”

As the associate dean for executive education at Cornell University’s Johnson Graduate School of Management, Dr. Szpiro was responsible for the University’s portfolio of Executive MBA and non-degree executive development programs. He was also the founding director of the Cornell-Queen’s Executive MBA program. Prior to joining Cornell University, he was the director of the National Executive MBA program at Queen’s University School of Business in Canada, which was named as the No. 1 ranked Executive MBA program in Canada by Bloomberg BusinessWeek.

Dr. Szpiro holds a bachelor’s degree from the University of Waterloo in Ontario, an MBA from Queen’s University, a master’s degree in international accounting and finance from the London School of Economics, and a doctorate from the Richard Ivey School of Business at the University of Western Ontario. Dr. Szpiro has also researched and published widely on issues such as online education, executive offsite learning, capital investment systems, and purchasing controls.

For Daniel Szpiro’s biography, visit: www.jwmi.com/content/about-jwmi-executive-team

For more information about The Jack Welch Management Institute at Strayer University, visit:www.jwmi.com

About Strayer University

Strayer University is accredited by the Middle States Commission on Higher Education and has been in operation since 1892. The University offers undergraduate and graduate degree programs in business administration, accounting, information technology, human resource management, education, health services administration, public administration and criminal justice to working adult students at 94 campuses in 23 states and Washington, D.C., as well as worldwide via the Internet. Strayer University also offers an executive MBA online through its Jack Welch Management Institute. For more information, visit www.strayer.edu or call 1-888-4-STRAYER (888-478-7293).

Contact:

Strayer University
Sonya Udler, 703-247-2517sonya.udler@strayer.edu 

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