GMAT is one of the most common testing methods that you are to endure in order to get into business school. It’s a very important test and regardless of what programs tell you, it does matter how you score on these tests. Most programs will look at everything but your GMAT score does increase or decrease your chances of getting into the program you want. When applying to a program, we need to remember that they are looking for top applicants and people that are qualified to continue their education in their program so if your GPA is not good, that is just one of many things they look at but if it does not meet the bare minimum, not only are you wasting their time you are also wasting yours too.
Now, lets say you have a great GPA and you have all the qualifications of this MBA program you are thinking about applying to but there’s only one thing you’re worried about and that’s how you’re going to pay for the GMAT. It is a hefty price of 250 dollars. Not everybody has this kind of money saved away so stressing out over it might really hurt your desire to apply or even get into a program that could take you a long way.
The most important thing to know is, GMAC enables the school to select a few students to give something called a fee waiver. You are able to get a fee waiver from the school and this enables you to take the test. Schools will require some sort of explanation of why you can’t afford to pay the GMAT costs and how you will pay for business school afterwards. It’s a trick question but you need to be prepared to appeal with your current situation and hope for the best. If they give you the fee waiver, that’s great, if not, that’s not the end of the road.
GMAT fees are high but they aren’t the highest thing you’re going to be faced with so understand the reality, it’s the cheapest thing you will pay for during business school so if you can’t afford it, its something to remind you that college is expensive and you are going to have to pay those student loans back.
Corporate policies might seem to be a set of rules within a corporation but they also are formed by the culture of the corporation. You heard me right, culture is the actual thing that impacts everything within the corporation and their rules are just another thing that has been impacted by their culture. The reason for this post today is a review of unsolicited proposals. There has been a discussion on whether these types of proposals are acceptable and then again, this is one of those things that we are attempting to be stereotypical about.
I don’t know if I have ever thought about stereotypes being an issue when talking about a corporation. How can somebody be stereotypical when it comes to a corporation rather than a person. It’s rather simple. When we think about being hired, how often do we think about their culture, what they value, how we fit within those standards for the corporation? Those are the very things that define whether we’ll be successful employees within that corporation. Just because we don’t fit in one doesn’t mean we won’t fit in another.
Figuring out what kind of corporation we want to be hired by, we would have different expectations and desires than say our 50 year old uncle. He might want to be hired by a corporation that’s dominantly white men and lets say you’re a 25 year old woman and have the opportunity to work for this brilliant, self-empowered woman who has showed you so many great things and you feel empowered when you’re around her. That’s another thing, maybe he prefers a large corporation, something more secure and you’re looking at a smaller corporation because you feel like the dynamics are exactly what you’re looking for.
There hasn’t been one indication that these corporations are similar in any way and that’s because their culture is completely different. How can you expect corporations to be identical when the people that run them are different, their ideas and philosophies are different. This application needs to go towards the very discussion of proposals, specifically unsolicited proposals. Just because one corporation frowns upon it doesn’t mean another would as well. Some corporations are constantly looking for new projects to fund and new project mangers to hire but aren’t looking in the right place. Here you are, with a project that’ll fit perfectly with their corporation and you had been told by another corporation that unsolicited proposals are frowned upon.
By listening to them, you’ve already deprived the very corporation that could benefit from you and your ideas just because another corporation told you one thing and you believed what they had to say. Carbon copies don’t go very well with individuals. Nobody likes to receive a email that has been CC’d to them and something that isn’t personalized. Why would you do the very thing towards a corporation that’s frowned upon when you do it to a person.
Thinking about this, the best way to approach is to remember that each and every company is an individual themselves. Treat them that way and you may be pleasantly surprised.
When we are learning and growing as a business, we need as many resources as we can get and often sites that are available are confusing or better yet, invalid. Today’s technology is spreading like wildfire and if we don’t keep up, we’ll find ourselves sitting in the dust as the world moves forward. The more I think about it, the more I realize the importance of knowledge of other business owners.
It’s not so much the knowledge but the appreciation we have for others and what they are able to contribute to the world today through experience, values, and mistakes. When we learn from our mistakes it’s great but it’s even better when we learn from other peoples mistakes. How can we as a community pull together and encourage business owners both new and old to learn from their mistakes and educate others on what not to do?
It’d be difficult to pay a blogger to write posts based on post but it could be a great asset if it’d be possible to pull together a blogging community and have them share their experiences, tears, laughter, and sweat that they’ve put into their business. We often see people blogging about their personal lives and what they’ve done wrong or even right but we don’t see a lot of business owners, small business owners, even CEOs willing to share information with new workers through blogging so it’d be a great asset to have just to encourage new owners to push forward through the barriers they are facing.
How would this work? Well, the only thing I can think of is to set up a community blog but then again, I’d want people to be able to blog whenever they want so it’d need to be accessible to everybody not just one person. I’ve participated in blogs like that before and it was a very interesting experience and I think really enabled people to learn how to submit work, work together towards a greater good.
I’ll have to see how to create a blog like this and go from there.. Probably will be hosted on WordPress until further notice.
Upper level management is often responsible for the creation and maintaining relationships with people outside the company in order to ensure the health of their own company can be continued long after they leave. This requires a lot of ability in social networking and sometimes companies create habits that are later found unethical. One example of unethical behavior would be creating relationships with people by giving them positions on your board in exchange for security of their company using your company for items your company is known for.
“SEC guidelines state that independent directors should lack affiliations with the focal firm as a supplier, creditor, or commercial banker within the past two years and firms that appoint directors who have such affiliations face an increasing risk of shareholder lawsuits.” (Johnson, Daily, and Ellstrand, 1996; Westphal, Boivie, and Chng, 2006)
Creating relationships with others is a task that people are expected to be able to do on their own and now SEC has already determined that bribery is not okay and if companies resort to bribery, they are to be prone to lawsuits by their own shareholders. Not only that but now we have to focus on the idea that having these type of ties are now not allowed. That means finding other resources or means of creating relationships. Not only creating but maintaing relationships between upper level management of various corporations. This demonstrates the issue of when people leave, how many of their relationships falter and fail to continue within the corporation.
One way to look at this is if your best friend owned another business that could benefit from your business using them for a particular thing like for example paper. Your company uses a lot of paper and your best friend’s company manufactures paper. Your company can buy enough paper to support the company through hard times if there were any for the sales of paper. While this is a simplified example, it shows that if you were to leave, more likely than anything your best friend wouldn’t stay with the same company you worked for once.
Sometimes relationships might follow you to your new job, which is one reason why companies are so anxious to acquire workers or assets that a company has through mergers or acquisitions.
Source for quote:
Westphal, J., Boivie, S., & Han Ming Chng, D. (2006) The Strategic Impetus for Social Network Ties: Reconstituting broken CEO Friendship Ties. Strategic Management Journal 27, 425-445.
There are many trends within the workplace and according to SHRM ( Workplace Trends: 2008) HR professionals are surveyed every 2 years to figure out what trends they think are going to be the biggest impact on the workplace. While this is a ongoing thing and changes over time, there are trends that are consistant and one of the most recent trends that topped the list in 2008 was the rising cost of health care. Other workplace trends included skills, labor shortage, and retention strategies. In 2011, the rising costs of health care continued to be an trend.
There was a belief among the HR workforce (Workplace Trends: 2008) that the new administration would impact federal health care legislature and this was in the top 10 overall trends. While 2008 was an election year, there were a lot of ideas that a new administration would enable change for America. This continued to be an trend well into 2011 (Workplace Forecast Feb 2011).
The impacts of society has continued to influence people and their concerns within the workplace. Health care has been a constant problem in society because now we have requirements set by the Federal Government to have health insurance in the next few years. It’d be considered against the law not to have health insurance and that’s leading to issues for people not only within the workforce.“Many of the top HR profession trends reflect the broader economic, demographic and global issues that HR professionals are most concerned with.”( Workplace Trends: 2008)
Often figuring out what trends impact people within the workplace, looking at the economy and figure out things like how much the dollar will impact our economy today or even if we look at baby boomers leaving the workforce because they’re at the retirement age. While it may be obvious to some people, it’s not obvious to others what the workforce is dealing with and what trends are current. It is important to have HR professionals share this information with the public which is why they are surveyed every 2 years.
Thinking about a proposal, it’s not always clear that it is similar to grant writing. Looking at the layout of a grant, we need an executive summary, statement of need, description of the project (problem and solution), budget, information about the writer, and a conclusion.
So, who writes proposals? Everybody does from the self employed to employees of a big corporation. Even students write proposals but all of these proposals are for different reasons. Generally when we look at a proposal, it is a solution to a problem. Sometimes the problem is not obvious to the company and sometimes the solution is not what they are looking for so not all proposals are accepted.
There is no right or wrong way to write a proposal however there is a suggested way and not everybody follows this format. First things first, research before doing any kind of work. If the company you are writing to doesn’t use immigrants and you are writing a proposal to write a hiring policy for immigrants to help their Human Resource department follow the law, sending that proposal to them would be a complete waste of time because you did not research and ensure that the company would need your solution to HR not understanding immigration laws.
Here are a few things that should be included in the proposal:
This is a general summary of the statement that you are making. It’s also a summary of everything that the person would anticipate to read within the proposal. This would be roughly one page long and prepare the reader for what they’re going to be reading. Look at this as an introduction paragraph in a research paper.
Statement of Need
Without a clear understanding of what the problem is, how can the reader be expected to understand the solution. The people these things are being sent to are very busy and they need things to get to the point.
Description of Project
The problem has been clearly stated and so now what does this project do to solve the problem, how is the project laid out, what is it going to do and who is it going to target. Basically answer who, what, where, why, and how.
None of this is going to happen without money so how much money are we talking about. Is it going to cost an extraordinary amount of money or is it going to be very cheap? Explaining each and every penny of how the money is going to be spent is important. These companies work hard for their money so they’re going to be hard about spending it on you or your project.
Information about Writer
Often this is just a summary of the writer or the company if this is a proposal from a company. Sometimes people want to know who is making this suggestion and why they are qualified to give the solution to us.
This works just like a paper, you are to conclude by summarizing the main points of your paper and what to remember. This is also the last chance to make a point or impact on the reader.
Now that we have a proposal written, modifying it to fit each company is the last step. Not every company you send this proposal to has the same guidelines for proposal submission so be sure that each and every company has what they have asked for. Don’t try to send a “one fits all” solution to each company. This is also where research comes in. Understanding what you are suggesting, who you are talking to, and how it benefits them and then modify it to fit.
We would say change is dangerous but not changing is even more dangerous. Change requires some sort of patience or understanding of what’s going to happen and how to adjust to fit the new settings. Doing some reading upon making sense of change management can be a bit confusing because it seems like people focus on the word change and not so much on the type of change and what to expect when change occurs.
The reality is, we can’t predict what will happen because change causes instability and when change happens in any given situation even at the atomic level, we just have to wait and see. If there’s no change, bad things happen. People are not motivated to push forward and make new products for their clients, there’s no more living on the edge. I suppose if we were to look at some of the things we’ve learned from, they’ve invoked change on the micro level.
According to Murthy in Change Management (by Global Media in 2007) change occurs on three different levels; micro, macro, and organizational. Clearly organizational means that people in the organization are going to see changes within the organization which means they are staying ahead of the game or trying to. Part of being in the business is focusing on what other organizations are doing and how to beat them at the customer game.
Murthy also points out that there are some problems coping with change. They generally cause issues with workers because they don’t understand why the changes are necessary and usually become rebellious against change and that sort of behavior can cause a lag in getting work done. Workers need to be educated on what the changes are for and why they exist.
Change can also adjust focus which we’d define as the ability to produce. Producing new products and adjusting products accordingly is important. Nobody wants to see their product return because the product isn’t fixed. Fixing problems is generally because we are learning from our mistakes and changing as we go. Once again, a vital type of change.
Speed (promptness) of getting things out changes as the company figures out how much of one thing is needed at a time. There’s no need to have a lot of inventory or being short on inventory. As we go, change is good especially if it saves us money in the long run.
Boundarylessness is a word that was brought up to define integration of ideas or philosophies within an organization. Can you share information between different departments. This includes information from the accounting department to employees on change in medicare/medicaid regulations as according to the federal government or their 401k. If the accounting department can’t share that information, there is going to be a big problem within the organization because information can’t be passed through effortlessly.
Everything is based on the organization as a whole but remember, there’s no organization without goals or objectives. Just how rigid are these guidelines or are they flexible for us as an organization to focus on competition as well? That’d be looked at as goal elasticity.
None of these things would change without change management. Management needs to understand what change is, how to incorporate it adequately, and how to educate the workers who will deal with change what the change is for and how to deal with it. Sometimes management forgets to share information and in the end, they are spited by their workers which lead to resistance to change.