Stanford MBA Program

Here's an example of the impact GSB alumni have: approximately 1/3 of the Stanford Board of Trustees are GSB graduates!

We know that not everyone can come and visit us here at Stanford so we organize info sessions in major cities around the globe. This year, we'll host almost 80 events in 36 nations:

Argentina, Australia, Belgium, Brazil, Bulgaria, Chile, China, Colombia, Egypt, France, Germany, Greece, Israel, India, Italy, Japan, Jordan, Lebanon, Mexico, Netherlands, New Zealand, Peru, Portugal, Russia, Saudi Arabia, Singapore, Spain, South Korea, Sweden, Taiwan, Turkey, UAE, UK, Ukraine, US, and Venezuela.

For the complete list and registration information, check http://www.gsb.stanford.edu/mba/outreach/info_sessions.html

We hope to meet you there!
Ciao,
--Rita

Here's an interesting factoid:

According to my colleague Angie Wilcox, Asst Director of Student Life here at the GSB, there are over 500 extracurricular leadership opportunities at the GSB alone. This number does not include the wealth of opportunities available within the larger Stanford community!

More later,
--Rita

This year's conference is organized by a group of students from the Stanford Graduate School of Business and the Haas School of Business at UC Berkeley.

The Stanford GSB is represented by Out4Biz co-presidents Corey Harris and Brian Theisen, both MBA Class of 2008.

The 10th annual Reaching Out LGBT MBA Conference will be held 11-14 October 2007 in San Francisco.
Ciao,
--Rita

Natalie Portman is passionate about alleviating poverty, and that passion was evident in her inaugural address here at Stanford which launched the GSB's Center for Social Innovations Social Innovators Speaker Series.

Portman (slideshow) told the story of a woman in Uganda who received a loan from FINCA International--a nonprofit that provides financial services to the poor. According to Portman, the woman had been living on less than $1 per day, raising 10 daughters. "She was begging her neighbors for their dirty laundry water so she could wash her kids' clothes," Portman said of the woman's life before she started her own business. More than 10 years ago, the woman opened a roadside food stand with a loan from FINCA and by 2004, when Portman met her, she had expanded her business to a restaurant that employed other local people. All of her children were in school, with one daughter even attending university. "Her entire life was changed," Portman said.

Portman said seeing the psychological change in the women who are served is one of the most rewarding aspects of her work. "It's not charity. It's just widening opportunity," she said.

Natalie, who appears in The Darjeeling Limited (it's on my list of movies to see) and who gave a stunning performance in Closer, has worked with FINCA over the past 4 years, traveling around the world and meeting with recipients of FINCA loans.

Thank you Natalie for your social activism!!

Ciao,
--Rita

I wanted to let you know the dates of our winter break:

The Stanford Graduate School of Business will close from 24 December 2007 through 1 January 2008.

We will try and answer emails during that time but it may take longer than one business day to get to your emails. We'll be back in the office 2 January 2008.

Best wishes,
--Rita

Happy New Year! I imagine many of you are busy putting the finishing touches on your application for Round 2.

With the deadline for Round 2 rapidly approaching (7 January 2008) I wanted to let you know that the quickest way to get your last minute questions answered is by calling us at + 1 650.723.2766 (we'll be back from Winter Break on Wednesday, 2 Jan 08).

Best wishes for the coming year,
--Rita

I'm very excited to announce a new fellowship opportunity made possible by the Mohammed bin Rasheed Fellows Program:

The fellowship--which will cover tuition, room and board, travel, and course-related fees--aims to support youth from across the Arab region who are interested in studying management, finance, or leadership at the graduate level. The fellowship stipulates that within 2 years of graduation, fellows are required to return to the Arab region to work for at least 2 years in the public or private sector.

Up to 5 fellowships will be awarded annually to candidates from the Arab region admitted to the Stanford MBA Program.

For complete information about eligibility and the application process, visit www.gsb.stanford.edu/mba/financialaid/types_aid.html and www.mbrfoundation.ae

Ciao,
--Rita

This years' Entrepreneurship Week at Stanford University takes place from 22 to 29 February 2008.

The event is organized by the Stanford Entrepreneurship Network and was an enormous success in 2007, with standing room only at every event.

Almost all events are free and open to the public. For details visit http://eweek.stanford.edu

Ciao,
--Rita

We are excited to share with you that a group of first year Middle Eastern students have joined forces to establish the Middle East and North Africa Club (MENA) at the GSB.

Given the role the MENA region is playing in today's business environment, we felt the need to build bridges between the GSB and this region.

Accordingly, with the support of the GSB, we established MENA in January 2008 with the purpose of promoting the Middle East at the GSB through speakers and recruiting events, and promoting the GSB in the Middle East through admission and alumni events.

We welcome the Class of 2010 and the Middle Eastern admits in particular.

If you are a Middle Eastern admit or prospective student, we encourage you to contact us with any questions you may have regarding the GSB.

-- Marwan Bejjani, MBA Class of 2009
GSB Middle East and North Africa Club Leaders

Dean Bob Joss, speaking in Hong Kong last month, explained that senior managers of major organizations are the key to solving global problems including poverty, pollution, and infectious disease.

All these problems are so huge that they need to be addressed by large groups of people under the guidance of extraordinary and inspiring leaders.

Said Joss: "The selection [of employees], the development of team work, the giving of feedback, the growth of people are the hardest things to achieve because all people are different; it's not a technical problem to be solved. It takes a lot of emotional intelligence, and that's a hard thing for people to develop. It's much easier to develop technical and cognitive skills."

To boil it down to elevator pitch length: emotional intelligence (sometimes called EQ) combined with leadership skills will drive global innovation. The conundrum is that teaching leadership EQ is tough. Doing it well is the business school equivalent of scaling Everest.

Back when I was a student, the mainstay of our EQ training was Interpersonal Dynamics, the infamous but incredible course lovingly known as Touchy Feely. The teaching of leadership at the GSB has evolved since my day and now, in addition to the ever-popular Touchy Feely course, encompasses a multi-modal strategy that includes role-playing, interactive lectures, small group discussions, and coaching. Then there's the executive challenge, the event that brings together first year MBA students and notable alumni for a real-world exercise in managing the pricklier issues that confront CEOs every day.

Last night, I was watching the Leadership in Focus video vignettes that the Center for Leadership Development and Research (CLDR) has created to facilitate leadership training. The vignettes portray managers discussing topics such as implementing change, making good decisions, and building teams. Not all the managers chose the optimal alternatives or achieved success.

These video cases are not explicitly about leadership EQ, but EQ inevitably creeps in. As I watched these videos, I realized that I was reacting more to the interpersonal vibes emanating from the managers than to the content. Some of the managers were able to step outside their own perspectives and understand the issues, personal and professional, that others were facing. Others were unable to make that transition to the point of seeming downright callous. I found myself disagreeing with their choices and thinking: "glad that's not my boss." Their lack or inability to connect with and inspire their subordinates led to rifts that could not be easily mended.

Here at the Stanford GSB, our innovative leadership training challenges students to question their assumptions, to step outside the boxes they have constructed for themselves, to reach out to others, and to embrace a broader understanding of the world around them, both literally and figuratively. The two-year MBA program enables students to begin a process of self-examination and transformation that will allow them to become the kind of innovative, principled, and insightful leaders who will change the world. Part of our mission at Stanford.

For more information on the CLDR, see http://www.gsb.stanford.edu/cldr/

--JoAnne Goldberg

Ah...June. For most admissions officers, it is our favorite month of the year. After we post our final decisions, we get the same feeling you may have had the moment you finished your last final exam at university. We have a chance both to reflect on the amazing stories our candidates have shared and to celebrate the conclusion of our last round.

Within days of our decision deadline, though, we quickly shift our attention to our next goal--that of producing a new application. Usually, you would see us huddled in conference rooms in marathon meetings throwing around potential new essay and recommendation questions to see which ones might stick.

It is with great pleasure that I announce our new 2008/2009 essay questions are posted at http://www.gsb.stanford.edu/mba/admission/essays.html

But is with even greater pleasure that I tell you it has been our easiest June ever!

This year's essay and recommendation questions are really the result of a journey that began over three years ago. Derrick Bolton, the Director of MBA Admissions, and I worked with experts in the field of leadership assessment from all over the world. We wanted to develop a set of questions that would stand the test of time--that would effectively elicit only the information most critical to our assessment criteria.

The 2008/2009 questions have changed little from last year; based on our satisfaction with the thousands of essay responses we read last year, we only made slight refinements.

Let me summarize why each of them is meaningful to our committee:

Essay A: What matters most to you and why?
This question helps us learn about your ideals and values. They set the context for how you see the world. They are your guideposts when you make any decision from what type of job you pursue to what type of culture you will create in leading an organization.

Essay B: What are your career aspirations? How will your education at Stanford help you achieve them?
This question helps us understand your professional dreams and from where your passion comes to achieve them. We also get a glimpse of what skills or knowledge you think you need to develop to reach them.

Essay C: Please answer two of the questions listed below.
1. Tell us about a time when you built or developed a team.
2. Tell us about a time when you felt most effective as a leader.
3. Tell us about a time when you tried to reach a goal or complete a task that was challenging, difficult, or frustrating.
4. Tell us about a time when you went beyond what was defined, established, or expected.

We all have important stories to tell. We want to share moments when we have achieved great things or helped to shape the world around us. Essay C lists four potential questions (or prompts) to help you identify which are the two most important stories you have to tell us. The prompts themselves are not as important as the stories that they bring to the surface.

Good luck completing your application this year. I hope my "confessions" have given you a little more insight into the journey you are about to begin.

Kirsten Moss
Director of Evaluation
Stanford Graduate School of Business

Many of you have shared your concerns about the economy and its possible impact on securing student loans. As you may have read, Citibank announced that it is suspending private loans for international students.

I asked my colleague Jack Edwards, Director of Financial Aid at the GSB, to help clarify the impact of this announcement.

His words: "International students at the Stanford Graduate School of Business will not be impacted by Citibank’s decision. The GSB Financial Aid Office has a close working relationship with Stanford Federal Credit Union and for the past two years we have made arrangements exclusively through SFCU to provide international students at Stanford the ability to take out private loans without a US co-signer."

"Citibank maintains its loan program for domestic borrowers."

Please contact our admission counselors if you have further questions.

Next up, will the economy impact my ability to get a job after I graduate?

Ciao,
--Rita

First, let me congratulate all of you who submitted your applications by the Round 1 deadline yesterday. We are looking forward to getting to know you via your essays, letters of recommendation, and all the other information you are sharing with us.

Today, I wanted to address your questions about how the contracting economy might affect your job prospects. I was able to discuss this issue with Andy Chan (MBA 1988), Assistant Dean and Director of the MBA Career Management Center:

Rita Winkler: Given the economic downturn, how does this affect the job prospects for applicants considering business school?

Andy Chan: Applicants must make their decisions about applying to business school separate from what's going on in the economy. Why? Because the economy is unpredictable and no one knows what the market will be like in two to three years. It could be better or worse. We all hope it will be better!

Rita Winkler: What does the Career Management Center (CMC) do to help students find jobs when the economy is weak?

Andy Chan: The CMC has developed relationships with many organizations that enjoy hiring Stanford students. However, in times like these, even some of those organizations may not be hiring.

One of our key goals is to teach and guide students to become strategic career managers so that they are equipped to manage their job search while at business school and throughout their careers when they are alumni.

We deliver numerous workshops and job search programming to help students successfully find opportunities, especially at smaller organizations. This is important for a couple of reasons: First, smaller firms are more likely to be hiring even in a down economy. Second, smaller organizations are also more able to create a job for a great candidate like one of our students.

In addition, the CMC helps students tap into the supportive and responsive GSB alumni community. In the last downturn, the CMC asked alumni to create projects and jobs and the alumni responded positively. This is possible at Stanford because so many of our alumni are top executives at their organizations.

Rita Winkler: In what other ways do Stanford alumni help students?

Andy Chan: Alumni are especially valuable in educating students about a wide range of careers and organizations. In addition, they are mentors, business advisors, and networking contacts.

Many alumni are angel investors or institutional investors who fund student-developed businesses. There may be a misperception among some applicants that this is a Bay Area phenomenon. Our alumni are even more responsive in regions far from California. If you contact an alum in any location outside the San Francisco Bay Area, they will be very responsive because they love helping Stanford MBAs and hearing what's happening back at the GSB--one of their favorite places on the planet.

Rita Winkler: How does the career experience vary for first year students?

Andy Chan: Every year--including the post-dot.com recession years of 2002-2003--100% of the first-year students obtain a summer job. Organizations find it valuable and easy (and less of a commitment) to hire an MBA student for a summer job or project. In addition, students tend to be more open to a variety of opportunities for summer jobs.

Rita Winkler: Do you help students who do not have jobs after graduation?

Andy Chan: Yes, the CMC continues to advise students after graduation. We also have a comprehensive set of resources offered by our Alumni Career Services team. We offer executive coaching and workshops at locations around the world. The online alumni job board has thousands of jobs posted each year. And the website has numerous tools, resources and articles to answer key questions from alumni regarding a post-MBA job search and overall career management.

Rita Winkler: What would you recommend to applicants with regard to their future job search?

Andy Chan: I would ask them to consider the following three things:

1) Clarify your personal purpose for getting an MBA. What are you hoping to achieve by getting the MBA? Understand if--and how--having an MBA will help you move towards the career you wish to pursue. There are some careers where an MBA is not required--and some where having an MBA is not desired.

2) Given the state of the economy, set realistic expectations for what you can achieve in the short term. What's your timeframe for reaching these goals (ideal vs. realistic vs. worst case)?

3) View the MBA as an asset with long-term value. I know so many alumni at the ages of 40, 45, 50 years old who reflect on their careers and appreciate how valuable and meaningful their MBA has been in influencing the direction of their careers and lives. Your investment has a payout over your lifetime, so be ready for a long, enjoyable ride.

Rita Winkler: Andy, thank you so much for sharing your thoughts with our readers.

Andy Chan: You're very welcome. I look forward to working with the Class of 2011!

If you're interested in more detailed employment statistics, visit the CMC's employment reports.

Ciao,
--Rita

The Grameen Fellows program at the Stanford Graduate School of Business aims to support promising Bangladeshi students with financial need in obtaining an MBA at Stanford.

This fellowship program, made possible by a generous gift, allows Stanford to extend its outreach within Bangladesh to the best and brightest MBA candidates, regardless of their financial situation.

The program is dedicated to developing the next generation of leaders in Bangladesh who are committed to the country's human and socio-economic progress.

This generous fellowship will cover all financial costs related to tuition, living expenses, and application and examination fees associated wit the admissions process.

This is a one-time program with up to two Grameen Fellowships awarded.

Learn more about fellowship requirements and application details

Ciao,
--Rita

At the GSB, we define diversity in the broadest possible terms. Instead of limiting our focus to gender, nationality, ethnicity, industry experience, etc., Deans Bob Joss and Derrick Bolton encourage us--and you--to think of diversity as the breadth of perspectives you contribute.

One of the diversity initiatives I oversee is our annual "Many Voices: Perspectives on Diversity" conference which took place a couple of weeks ago.

The idea behind Many Voices is to give prospective students who believe that they will make a unique contribution to the diversity of the class a chance to visit, and to see for themselves that the GSB community is indeed made up of people who have many distinct and unique voices.

We had a great turnout with over 130 prospective students spending the day at the GSB, learning about student life, the admissions process, coursework, and life after the GSB.

The day started early in the morning, with a light breakfast and check-in. After welcoming the group, we had a rousing discussion about some of the things that make the Stanford MBA Program unique and also to demystify the admissions process.

Both first- and second-year students joined us for panel discussions about their experiences at the GSB. Dean Bob Joss spoke about the future of management education and introduced our keynote speaker, Elizabeth Davila, MBA '77.

Liz spoke of coming to the GSB as a young mother whose previous professional experience had been as a high school chemistry teacher in Ecuador, and shared her experience working in the medical devices industry after leaving the GSB.

One of the highlights of the Many Voices conference is to let participants experience the academic rigor at the GSB and to meet some of our renowned faculty. Divided into small study groups, prospective students discussed how to compensate the Director of Development at Australia's Circus Oz, McAfee's partnering options back in the early 1990s, and 7-Eleven's expansion in Japan.

The conference was rounded out by a presentation from the Career Management Center on how they help students find their true passions, and a panel of alumni who shared lively and often hilarious stories about their times as GSB students.

If you're interested in participating in our next "Many Voices: Perspectives on Diversity" conference, please follow these instructions.

Best wishes,

Eric Abrams
Director of Diversity Initiatives

The GSB's Center for Social Innovation recently announced the Social Innovation Fellowship Pilot Program which was created to support social entrepreneurs.

I wasn't sure whether this fellowship was intended for current MBA students or for MBA graduates so I visited my colleague Janet Abrams, Director of the Public Management Program to find out:

Rita Winkler: Can you describe what the Social Innovation Fellowship is?

Janet Abrams: The Social Innovation Fellowship is for graduating Stanford MBAs who have a well-defined vision for a new social venture and are ready to dedicate the year after graduation to launching that venture as a nonprofit organization. The GSB's Center for Social Innovation is piloting the Fellowship over the next three years. Beginning in spring 2009, a limited number of second-year students will be selected to receive a stipend for the following year as well as access to the many non-financial resources--information, professional networks, etc.--that the Center can provide.

Rita Winkler: What purpose does this fellowship serve and why is it necessary?

Janet Abrams: Many students come to the GSB with great motivation to make a difference in the world. While at Stanford, some develop specific ideas for how they might apply the knowledge and skills they're gaining here to solving serious social problems.
During their first year after graduation, the Fellowship allows MBAs who are starting a new venture in the nonprofit sphere the freedom to focus all of their energies on securing funding, personnel, partners, and other assets that will be essential for success.

Rita Winkler: Who is eligible? Is there an application process?

Janet Abrams: Second-year Stanford MBA students in good academic standing are eligible, as are teams of two led by a graduating MBA student who's in good academic standing. And yes, there's an application process. Candidates will submit a detailed proposal for their social venture in April. Those whose applications show real promise will be invited to present their ideas to the Fellowship selection committee in May. The Center for Social Innovation will announce the new Fellows in mid-to-late May.

Rita Winkler: What are the award criteria? How will you decide who should receive a fellowship?

Janet Abrams: The Fellowship selection committee is made up of GSB faculty and staff, experienced social entrepreneurs, and philanthropy professionals. This group will consider each candidate's degree of commitment to social entrepreneurship, the thoroughness of his or her plan, and the likelihood the envisioned nonprofit will make a significant impact.

Rita Winkler: Thank you Janet!

Learn more about the Social Innovation Fellowship

Learn more about the Center for Social Innovation and the Center's Public Management Program

Ciao,
--Rita

With the Round 2 application deadline just a little over a month away (7 January 2009) I wanted to draw your attention to the Top Ten most frequent (and avoidable) mistakes we find on your applications:

--Enter your name correctly. In the application, you enter your family name (also called last name) before your first name (also called given name). Yes, smart people make this mistake.

--Provide a specific reason for leaving any of your previous jobs--as opposed to a reason for accepting your next job. In the application verification process over the summer, this is the cause of many issues.

--Submit your application only after your recommenders have submitted your Letters of Reference. Stanford's instructions may differ from some other schools in this regard, but your application processing works best when you follow our advice. Trust us on this.

--If your university provided A/B/C/D grades, calculate your grade point average on a four-point scale (A=4, A-=3.7, B+=3.3, B=3, C=2, D=1, etc.). Do this even if your university did not calculate the grade point average. This is the easiest math problem that you're likely to see in an MBA program.

--If there is any period of four-plus months when you were neither in school nor working, tell us what you were doing during that time.

--For Essay C (Options 1-4) discuss experiences that have occurred in the last three years. Work, community, or college experiences are terrific, as long as they took place within the last three years. Be sure to tell us the "how" and "why," not just the "what."

--If you can't get a recommendation from your current supervisor, provide a brief explanation (one or two sentences) in the Additional Information section of the Online Application.

--For your Letter of Reference from a peer please make sure the person you pick is indeed a peer (an equal). Though few people like hierarchy, our supervisors are not our peers. Even if your supervisor is your friend, he/she by definition is not your peer. While many peers also are friends, remember that not all friends are good choices for recommendations.

--Check your transcript after you scan/upload it. As a general rule, if you can't read it, we can't read it.

--When calculating your months of work experience, only include post-college work and provide the months (not the years) through September of the year in which you plan to enroll (not as of the date you're applying).

As always, if you have any questions please contact us.

Thank you and best wishes,
LaNeika Ward
Acting Assistant Director of MBA Admissions

On December 3rd, 370 first-year students showed up for the final exam for Strategic Leadership, one of our core classes. But unlike most testing situations, everyone was wearing a suit. At the same time across campus, more than 160 senior level alumni and executives were being drilled on how to judge student performance. The all-day test is not a written exam, but is something called the Executive Challenge, and while it does count as a final exam for the class, it also serves as a unique opportunity to gain real-world learning from some of the most influential global leaders today.

The judges included current and former CEOs from multiple Fortune 500 companies and high-profile startups, managing partners of well known VC firms, and senior executives in finance, consulting and a myriad of other industries. Most flew in for the day - many from international destinations - excited to engage with students one-on-one and participate in a uniquely Stanford experience.

Working in teams of eight, students had to complete four experiential leadership challenges throughout the day, each simulating a typical situation faced by senior executives. One challenge required students to play the role of Chairman and CEO, working to convince reluctant board members to pursue an acquisition. A successful effort required both good business analysis and strong interpersonal skills. Alumni judges played the board members, each of whom had objectives and personalities that could have derailed the meeting if mishandled. One of the judges, Stu Francis, an alum from 1977 and Vice Chairman of Barclays Capital, told us, "It is very interesting to watch the students deal with things that come up in a day-to-day context in business. You do not learn it until you do it, except at Stanford. You learn it here."

The student response was overwhelmingly positive. One explained, "The Executive Challenge was terrific, particularly as it put learning in a real-world context where we were graded not on specific frameworks but on actual efficacy." It also served as a vehicle for connecting students with the deep alumni network. Many students and the alumni they met have since exchanged emails, or arranged to get together for coffee or dinner. Most students were floored to see how many high-profile alums made the time to stay connected to the school, making themselves accessible and providing valuable feedback.

The final exam ended as uniquely as it started, with a party-like atmosphere, as hundreds of students, alumni, faculty and GSB staff packed in an auditorium to honor the day's winners. But the biggest winner was clearly the Stanford GSB community as a whole, and everybody there feeling like a real part of it.

Congratulations on a job well done!

Mike Hochleutner, MBA '01
Executive Director
Center for Leadership Development & Research

Read more
Watch video

As of mid-week, we have extended around 400 interview invitations to first round candidates. We expect to invite an additional 150-200 applicants to interview in the next few weeks, as we read and evaluate first round applications before the notification deadline of 22 January 2009.

On the January 22 first round notification deadline, we also may ask 50-100 applicants to join the waitlist without having been interviewed, and may interview those candidates later.

I hope this is helpful. Best wishes for the holiday season.
Derrick

It's award season for the U.S. film industry, culminating with the Oscars on 22 February. Many GSB alumni play a significant role in the entertainment world, including Jeff Bewkes '77, President and CEO of Time-Warner, Inc.; Micheline L. Chau '76, President and COO of Lucasfilm, Ltd.; Yair Landau '89, President of Sony Pictures Entertainment; Ali Rowghani '02, CFO and Senior Vice President of Strategic Planning for Pixar Animation Studios; Tom Staggs '87, CFO and Senior Executive Vice President of The Walt Disney Company; and Andrea Wong '93, President and CEO of Lifetime Networks.

After leaving eBay, Jeff Skoll '95 founded Participant Media, which has produced many Oscar-nominated films, such as Murderball, The Kite Runner, and Good Night, and Good Luck, while its films Syriana and An Inconvenient Truth were both winners. If you watch the Oscars, keep an eye out for the Best Actor category. Richard Jenkins is nominated in this category for Participant's film The Visitor.

The arts are thriving right here on campus as well. Membership in the GSB's Arts, Media, and Entertainment Club has grown steadily, and now includes more than 140 MBA students. Many members have held positions at MTV, Disney, Universal, and Fox, to name a few. The club's big initiative this year is the Breaking into the Industry series, which brings industry insiders to campus for discussions about specific entertainment functions such as production, digital media, and corporate strategy. Also popular on campus is the Leadership in the Entertainment Industry course, which will be taught again this spring by Bill Guttentag, a two-time Oscar-winning documentary and feature film writer, producer, and director.

And finally, here's a movie viewing tip: The film Bottle Shock was released this month to DVD. Produced by GSB alumni Marc Lhormer '86 and J. Todd Harris '86, the movie chronicles California wine making and the now-infamous blind wine tasting of 1976 which changed the future of the wine industry. The film was an official selection at the 2008 Sundance Film Festival, so look for it at your local video store.

We're excited to announce that second-year MBA student Andreata Muforo won the Social Equity Venture Fund (S.E.VEN) "Entrepreneurial President" essay competition and a $20,000 scholarship. Assuming the role of policy advisor to President Paul Kagame of Rwanda, she wrote an essay on "Developing Rwanda's Private Sector through Entrepreneurship," which will be presented to President Kagame.

Andreata's essay was selected through a competitive review process that included a jury of leading business executives and development experts. Her essay was chosen from more than 650 submissions, received from more than 450 institutions and 35 countries, with submissions from places as diverse as Iran to China, and Peru to Burundi.

Andreata, who was born and raised in Harare, Zimbabwe, is understandably very excited about receiving the award, but she says she also feels "humbled by the opportunity to potentially impact a country."

For more information, visit http://www.sevenfund.org/press-release-feb-2009-president-awards.php.

As of this morning, we have invited 275 second-round candidates to interview. We will extend an additional 100-125 interview invitations to second-round candidates in the next couple of weeks.

During that same period, we plan to interview some of the first-round candidates who accepted spots on the waitlist without having interviewed.

I hope this is helpful,
Derrick

Every year 20 million premature or low-birth-weight children are born, many of them in rural areas of developing countries where they have no hope of receiving the medical care they need to survive. Enter Stanford's Entrepreneurial Design for Extreme Affordability, a two-quarter course, co-taught by the Business School's Jim Patell in which graduate students across the University look for practical solutions to the problems of the global poor. One of its promising products is the Embrace, an inexpensive ($25 estimated) portable incubator designed to resemble a sleeping bag and heated by a material that keeps bag and baby at a constant temperature of 98.6 degrees for four hours without electricity.

The Embrace organization is itself in the incubation stage. The four-student team came up with the idea and developed it in class in 2007. Last June, two of the original team members, Jane Chen, MBA '08, and Rahul Panciker, PhD '08, Engineering, won an Echoing Green Fellowship, which provides seed funding for the project of up to $90,000 over two years. The organization has since received nonprofit status, the incubator and its heating system has a provisional patent, and Chen and Panicker are now in India conducting clinical tests of the Embrace. If all goes well, they will return to India later this year to test it in a community setting. See EmbraceGlobal.org.

Source: Stanford Business

The diversity of our students and our community is what makes the GSB such a dynamic place. People often ask us how we define diversity. For us, it's really about the breadth of perspective our students bring. You've probably read Derrick Bolton's thoughts on the subject, but if not, take a look here.

The breadth of perspective at the GSB is incredible. If you're interested in seeing this in action, there are two upcoming events you might be interested in. The xxFactor: Women Changing the World event will be held on 16 May. Hosted by the Women in Management club, the alumnae Women's Initiative Network, and the MBA Admission Office, this conference is geared toward women who are interested in applying to business school. This year's conference will focus on who attends business school and why, what kinds of opportunities are available for MBA graduates, and why experiential learning is transformational. All prospective students are welcome to participate. Applications are due 10 April. You can find more information here.

Many Voices: Perspectives on Diversity is hosted jointly by the Asian Society, Black Business Students Association, Hispanic Business Students Association, and the MBA Admission Office. This event provides the opportunity for you to meet GSB alumni, students, faculty, and staff, and to gain insight into our admission process. The event will be held on 17 May, and again, all are welcome. To attend Many Voices, you need to apply by 10 April. More information is available here.

Seeing the range of ideas and talent within our community might just help you envision how you would make a difference at the GSB. We look forward to meeting you at one or both of the events!

We have extended the deadlines for both Many Voices: Perspectives on Diversity and XX Factor: Women Changing The World. You may submit your application to attend by Monday, 13 April 2009, 5PM Pacific Time.

For more information on these events visit:
Many Voices
XX Factor

Hope to meet you during one of these events,

Ciao,
--Rita

Want to control your Wii using just your mind? In the market for a robot that can help you communicate from home? Need your Prius to get 100 miles per gallon? This year's Stanford Cool Product Expo, co-sponsored by the GSB, the Stanford Product Design & Manufacturing Club, and the Product Realization Network at Stanford, featured all this and more.

The mission of the Cool Product Expo is to generate interest in and excitement around "cool" products and companies in the field of manufacturing and design at Stanford and the community at large. This year's participants included start-ups, university research lab projects, and global manufacturers, all exhibiting products that aren't yet on the market. Many products focused on green technology---like Visible Energy's UFO, which allows consumers to "see" how much energy they're using and then helps reduce that amount.

Other products ranged from handy, to life-saving. D.light Design, co-founded by Sam Goldman, MBA 2007, and Ned Tozun, MBA 2007, exhibited the Nova lamp, designed to replace dangerous kerosene lamps with a clean, safe, and affordable lighting option for families living without electricity. Jane Chen, MBA 2008, one of the co-founders of Embrace (see "Incubator" entry below), was at the Expo displaying a low-cost, portable infant incubator. Many of the exhibitors are hoping to bring their products to market soon. Chen, for example, is in the final stages of development and funding for the incubator, and says, "Our goal is to get this global within the next five years."

The GSB faculty has voted to retire the Certificate in Global Management beginning with the MBA Class of 2011. The Global Management Program and the Center for Global Business and Economy will continue to enhance the global nature of the Business School.

Our original reason for creating the Certificate in Global Management back in 1994 was to provide a catalyst for more global content within the MBA Program. Even at its inception, our hope was for obsolescence once the MBA curriculum and our students were more global in perspective and experience. I am happy to announce that the deans and faculty have assessed that this time has come. Over the last 15 years, we have dramatically expanded the global nature of the Stanford MBA Program. With the introduction in 2007 of the Global Experience Requirement and the required Global Context of Management class, as well as an increase in global offerings across the GSB, it is inaccurate to suggest that some of our students are "global" and others are not. We believe that all of our students now graduate with a broader and deeper sense of how to manage effectively in the global economy. We hope you share our excitement that the School has achieved this notable milestone, and all of us in the Global Management Program look forward to supporting our students' development as global leaders.

--John Roberts, Faculty Director, Global Management Program

It was announced today that Anthony Wilder Miller, MBA 1992, has been nominated by the White House to be the Deputy Secretary of Education for the Department of Education. Miller will be joining Jim Shelton, MA/MBA 1993, who was recently named Assistant Deputy Secretary for the U.S. Department of Education.

Other alumni who have made their mark on the hill in the Obama administration include Corey Booth, MBA 1995, Chief Information Officer for the Securities and Exchange Commission; David Lee Katz, MBA 2008, Special Assistant to the Secretary for the U.S. Department of Energy; Aditya Kumar, Director and Special Assistant for the Chief of Staff's Office at the White House; and Penny Sue Pritzker, JD/MBA 1984, national finance chair of Barack Obama's presidential campaign.

At the end of every admission cycle, the GSB posts the upcoming year's application and notification deadlines. We typically do this after our Round 3 response deadline. However, because we have moved up the date for applying for Round 1, we decided to post our deadlines now to give you a bit more time to prepare. You can find the deadlines here. In July, we'll be adding more information to our site, including the admission application and instructions, so make sure to check back.

Also, as we do every year, we've posted the new short-answer essay questions; the two longer-format essay questions remain unchanged. You can find all of the questions, along with essay-writing tips from Derrick Bolton, our director of MBA Admissions, here.

As is customary for many business schools, we will post the new class profile when our students arrive in September. Until then, happy application planning!

It was just announced that our own Garth Saloner will be the ninth dean of the GSB, effective 1 September 2009. Saloner joined the Stanford faculty in 1990 and is a scholar of entrepreneurship and business strategy. He was also instrumental in creating and implementing the new MBA curriculum.

>> Learn more about our new dean

The GSB's Global Study Trips offer abundant opportunities for learning well after the trips are over. MBA students return--from locations as diverse as Ghana, Peru, and Scandinavia--with knowledge, stories, and advice that they pass on to the campus community. Recently, students from a spring study trip to Mexico were inspired to bring to Stanford the musical group Los Tigres Del Norte. The group--who regularly packs stadiums in Latin America--shared with the GSB the inspiration behind its Grammy-winning music.

Watch the video of Los Tigres' visit. You can also learn more about the GSB's Global Study Trips on our website.

The relationships that you form at the Stanford Graduate School of Business are close and long-lasting--one of the benefits of our small class size. Our active alumni chapters are evidence of this, with events both formal and informal taking place all over the world.

On 7 June, GSB alumni and newly admitted students gathered in Mumbai at the Taj Mahal hotel for a discussion with Rakesh Mohan, Deputy Governor of the Reserve Bank of India. As Deputy Governor, Mohan is in charge of monetary policy, financial markets, and economic research and statistics for India's central bank.

Mohan's visit, which was sponsored by the GSB India alumni chapter, featured extensive Q&A. Attendees traveled from areas such as Bangalore and Kashmir to hear the presentation. For those of us who couldn't make it to the event, Mohan will be a visitor at the Stanford Center for International Development this fall.

From left to right: Akhil Gupta, MBA 1981, Jo Pattabiraman, MBA 2002, Dr. Rakesh Mohan, Nadir Godrej, MS 1974, Dr. Rati Godrej, Naushad Forbes, BAS 1981, MS 1982, PhD 1987, Farhad Forbes, BS 1977, MS 1979, Sloan 1991, and Jagdish Malkani, Sloan 1993

Interested in applying to the Stanford Graduate School of Business? The application for the Class of 2012 is now available here.

As previously announced, we have moved up our Round 1 application deadline to 7 October 2009. We also may be extending interviews earlier this year. As always, we encourage you to review our website soon and submit your application as early as possible within the round you choose to apply.

For complete application information, including deadlines, please visit the Admission section of our site.

We're happy to announce that Stanford GSB students Ashley Evans, Kenneth Hammond, Andy Martin, Matthew Skaruppa, and Iain Ware (all MBA 2010s) received the distinguished Siebel Scholarship. The award recognizes students for their academic achievement, leadership, and citizenship within the Business School community during their first year. Along with receiving a $35,000 tuition grant, scholars have the opportunity to serve as key advisors to the Siebel Foundation.

We are proud to have Ashley, Kenneth, Andy, Matthew, Iain, at the GSB!

Read more

Today we extended our first interview invitation for the 2009-2010 application year. This is just the first invitation of many, but we thought it was worth celebrating.

Just as a reminder, the Round One application deadline is 7 October. We will be extending interview invitations up until the decision notification deadline of 16 December.

Myra Strober, Professor of Economics, reflects on 35 years of research on gender issues and her role in spearheading Stanford University's first Center for Research on Women (now known as the Michelle R. Clayman Institute for Gender Research).

The first woman to join the faculty at the Graduate School of Business, Strober recalls the path that led her to her lifelong interest in the economics of work and family.

Thanks to Theresa Johnston who interviewd Professor Strober and to photographer Ashley Tindall. Full Story

Our academic calendar is materializing for the Winter quarter. This means it's time to open registration for our on-campus events.

On Monday, 30 November 2009, initial registration will open for Winter class visits and information sessions. The first opportunity for class visits will be Monday, 11 January 2010. In December, once our class enrollment numbers are confirmed, we will post additional spots for class visits.

As I mentioned in my previous blog entry, attending our on-campus events is neither required nor expected. Our events offer a chance to experience a day at the GSB, but do not result in preferential treatment in the admission process.

This past Fall quarter, we accommodated over 500 class visitors. Based on our survey results, almost everyone enjoyed their class visit.

For event details, please refer to the following section on our website.

We look forward to seeing you in the coming months.

Take care,

Brad Lindeberg
Admissions Coordinator

Forbes recently announced that Stanford GSB alumni are the most satisfied with their current jobs, their MBA education, and how well their school prepared them relative to other business school graduates. The Stanford GSB also provided the best return on investment per the Forbes research.

Read more about MBA satisfaction and the Forbes findings.

We wanted to let you know about two exciting upcoming conferences at the Stanford GSB.

-- Many Voices: Perspectives on Diversity, Saturday, 15 May 2010. Many Voices is an opportunity for prospective applicants who bring diversity to the Stanford GSB community to learn more about our program.

-- XX Factor: Women Changing the World, Sunday, 16 May 2010. XX Factor is geared toward women who are considering applying to business school.

Both events will include an overview of the MBA Program, a class immersion experience, and opportunities to hear from students, alumni, faculty, and staff.

Because space is limited, those who would like to attend these conferences must complete a brief application.

-- Many Voices Application
-- XX Factor Application

Applications for both conferences are due on Friday, 9 April 2010, by 5:00 p.m. (Pacific Time). Decisions will be emailed by Friday, 16 April 2010.

The blooming cherry blossoms on campus outside the Littlefield Management Center indicate two things: Spring is just around the corner and our Class Visit Program is about to resume.

On Monday, 22 March 2010, initial registration will open for Spring Class Visits and Information Sessions. While weekly Information Sessions are available immediately, the first opportunity for a Class Visit will be Monday, 12 April 2010. Once enrollment settles in April, we may open additional spots.

As mentioned in earlier posts, attending our on-campus events is neither required nor expected. Our events offer a chance to experience a day at the GSB, but do not result in preferential treatment in the admission process.

If you are considering applying for Fall 2011 admission and are planning on visiting campus, the Spring quarter is the ideal time to visit. Our events in the Fall often fill quickly, when demand is highest.

For additional details, please reference the On-Campus Events section of our website.

We look forward to seeing you in the coming months.

Take care,

Brad Lindeberg
Admissions Coordinator

Credit: SkyHawk Photography

Progress on the Knight Management Center remains fast and furious. Sounds of construction still fill the air on Serra Street as the new eight-building Stanford GSB campus takes shape. When it's complete in April 2011, Knight will be about 360,000 square feet of pure business school bliss.

Stop by the Stanford MBA booth on Wednesday, April 7 at the GMATCH Virtual Fair, which will feature MBA and Master programs from around the world. We will have materials and information for you to download, and Stanford MBA admissions staff will be available to chat with you and answer questions.

Learn more about the fair

Register now

The applications for the Grameen and Reliance Dhirubhai Fellowships are now open.

For complete details, including fellowship requirements and application details, please visit
http://www.gsb.stanford.edu/mba/financial_aid/fellow_scholarships.html

The Grameen Fellows Program supports Bangladeshi students with financial need in obtaining an MBA at Stanford. This generous fellowship will cover all financial costs related to tuition, living expenses, and application and examination fees associated with the admissions process.

Reliance Industries Limited has generously created the Reliance Dhirubhai Fellows Program to support Indian students with financial need in obtaining an MBA at Stanford. Each year, Stanford may award up to five Reliance Dhirubhai Fellowships.

With round 3 all wrapped up for this year, we thought you might be interested in the application deadlines for the class of 2013 (entering Fall 2011).

As always, if you have any questions related to the Stanford MBA Program, please peruse our website . You can also call us at +1 650.723.2766.

We look forward to reading your applications,

Best wishes,
--Rita

Did any of you catch Charlie Rose interviewing Stanford alumna Jacqueline Novogratz last year? It had been on my list to watch and I finally got around to it.

Novogratz, MBA '91, is the founder and CEO of Acumen Fund, "a non-profit global venture fund that uses entrepreneurial approaches to solve the problems of global poverty."

Here's the link http://www.charlierose.com/view/interview/10176

--Rita

If you want to get started on your essays and recommendations, the questions are now posted on our website.

Essay Questions
Like previous years, there are 4 required essays. The legendary--or notorious--"What matters most to you, and why?" of course remains.

The second essay about your career aspirations has a new follow-up, which asks what you need to learn at Stanford in order to achieve your career aspirations. We want to know how you're going to use the learning experience at Stanford to bridge the gaps in your knowledge, skills, and development so that you can reach your career aspirations.

For the last two essays, you have a choice of four different questions. Three of the four are the same as last year. The new question is: "Tell us about a time when you generated support from others for an idea or initiative."

Recommendation Questions
The biggest change in the recommendation questions is that we have a slightly different set of questions for your two professional/workplace recommenders and for your one peer/team recommender. Be sure to remind your recommender to answer the correct set of questions.

Peer/team recommenders are asked, "Describe how the candidate has generated support from others for an idea or initiative" while professional/workplace recommenders are asked "How does the candidate's performance compare to other well-qualified individuals in similar roles?" This is because peers get to see you in different circumstances than professional (typically supervisors or those above you) do. Your peer recommender is also asked about any lasting impact you may have made on the organization while your professional recommenders are asked about a legacy you may have left. Someone higher up in the organization is more likely to be in a better position to comment on something as far-reaching as a legacy.

As you can see, both the essay and recommendation questions are meaty and require a lot of thought. So good idea to give yourself and your recommenders plenty of time. Get going and good luck!

Allison Davis
Associate Director of MBA Admissions

We are pleased to let you know that our online application for the MBA class entering fall 2011 is live.

We look forward to reading your application!

Best wishes,
--Rita

Many of you have started work on your essays so we wanted to share the top 8 mistakes applicants make on their essays:

1. Not making Essay B specific to the GSB.
2. Choosing a topic for Essay 3A, B, C, or D that is NOT within 3 years.
3. Combining your 2 essay C's into 1 essay.
4. Cutting and pasting your essays from essays you've written for other schools. You risk not answering the question we're asking...and big risk of leaving the name of the other school in your Stanford essay!
5. Writing what you think we want to hear, instead of what you genuinely want us to know about you. Be yourself...corny but true!
6. Single-spacing your essays. Please double space--our readers are reading hundreds of applications.
7. Using too small of a font on your essays. Please use 12-point font. Remember, our readers' eyes!
8. Using an alternate font for essays. Use one of the recommended fonts: Arial, Courier, and Times New Roman to avoid legibility problems when your essays are downloaded on our end.

For more information about the essay questions for the class entering fall 2011 visit Essays

Good luck with your essays,
Allison Davis
Associate Director of MBA Admissions

1. Requesting a peer recommendation from someone who is not truly a peer. A peer is someone you've worked with on a team or on a project in a position equal to your own. This person should not be a supervisor or subordinate. The team experience could have been at work or in an extracurricular (college, community, religious, sports) activity.

2. Giving your recommenders too little time to write their recommendations.

For more information visit Letters of Reference

Best wishes,
Allison Davis
Associate Director of MBA Admissions

A team of graduate students is charging forward with an idea to manufacture an affordable device for home dialysis that lessens the chance of patients developing internal infections. The project combines the ideas of team members from medicine, business and engineering.

Read the article

A startup business development manager in energy and healthcare; reality TV contestant-turned sportscaster; marathon runner/clean technology analyst; founding member of the Climate Change Special Initiative in Asia; and strategic management analyst and avid Dallas Mavericks fan have been named 2011 Siebel Scholars.

Congratulations to Danielle Buckley, Arvind Iyengar, Sumi Kim, Shane Lauf, and Amanda Luther (all MBA Class of 2011).

These five accomplished second-year MBA students join an elite group chosen by a faculty committee based on academic achievement and demonstrated leadership within the business school community during their first year at the school. The honor includes a tuition grant of $35,000 from the program, established in 2000 by the Siebel Foundation to recognize the most talented students at the world's leading graduate schools of business and computer science.

Greetings from the Stanford MBA Admissions Office. After a quiet summer, it is time to welcome our students and prospective students to campus.

On Monday, 6th September 2010, registration will open for Fall Class Visits and Information Sessions. Our events will begin on Monday, 27th September 2010.

While we encourage you to visit the Stanford GSB and get to know our program better, a campus visit is neither required nor expected. Out of fairness to all applicants, we do not give preferential treatment in the admission process to those who have visited the GSB.

For detailed information about our events, please visit our on-campus event page.

We hope you will be able to join us for some events this fall.

Take care,
Joe Sicora
Admissions Coordinator

Here's a great story about A. Barry Rand, MBA Class of 1973, who took the helm of AARP last year.

Rand has an impressive history of leading social change at companies such as Xerox and Avis and became one of the first African-Americans to run a Fortune 500 company.

At AARP, Rand aims to influence a politicized nation on the rights of people as they age.

Read the story by Rick Schmitt...

With the application deadline for Round 1 coming up soon (06 October 2010) we thought we'd share the top 12 mistakes applicants make on their applications, so you can avoid them:

1. Uploading a transcript that is illegible.
Review the uploaded transcript to make sure it is readable. If it's not, use the self-reported transcript instead.

2. Waiting until the deadline date to upload your transcripts.
As mentioned in #1, if your transcripts are not readable you need to switch to the self-reported transcript. This is a time-consuming task and best done well before the deadline day.

3. Uploading the wrong documents by mistake.
Take care to upload the correct files. We've seen everything from sensitive employment documents to marked-up drafts of essays.

4. Not calculating the number of months of work experience correctly.
We want to know the number of months (not years) of full-time work experience since you graduated from your undergraduate college or university that you will have as of September 1, 2011. Include business, career military, teaching, government, and non-profit experience, but do NOT include internships, summer jobs, compulsory military, or part-time jobs. If you are a college senior, enter zero.

5. Using the "Additional Information" section for additional essays (maybe even essays you wrote for other schools).
The Additional Information section is meant for short explanations (for example, a failing grade), overflow on sections from the application (for example, your work history not fitting in the Employment section), or additional required documents (for example, proof of financial aid for a current college senior to support their application for a fee waiver).

6. Foreign nationals answering questions about ethnicity and race.
Questions about ethnicity and race are for U.S. citizens and U.S. permanent residents ONLY.

7. Citizenship status and country of citizenship that conflict.
For example, marking "U.S. Citizen" and putting primary citizenship as "France;" or marking "non-U.S. citizen" and putting primary citizenship as the "United States").

8. Not explaining gaps in work experience or education.
We ask you to explain any gaps of 4 months or more in the work history section.

9. Inverting the beginning and ending dates of employment, starting and ending salaries or bonuses.

10. Inverting your first and last names on the application form. Put your family name in the "last name" field and your given name in the "first name" field.

11. Entering decimal points where we specifically tell you not to (for example, salary and, for international candidates, years in the U.S.)

12. Neglecting to thoroughly read our website. There is much helpful information and many tips on how to best prepare your application.

We look forward to reading your applications,
Allison Davis
Associate Director of MBA Admissions

Just a quick note to let you know that we have posted the class profile for the MBA Class of 2012.

Read the class Profile...

Ciao,
--Rita

Writing compelling essays for your Stanford MBA Program application requires not so much superior story telling skills as a willingness to be honest with yourself and with us.

According to Derrick, "Reflective, insightful essays help us envision the individual behind all of the experiences and accomplishments that we read about elsewhere in your application--the who behind the what. The self-awareness that enables you to write your essays also will allow you to succeed and grow at Stanford, so that you may serve organizations that change the world."

Read all of Derrick's tips...

Best wishes,
--Rita

Researching the question of just who is likely to land a C-level job (CEO, COO, CFO) and why, Stanford Graduate School of Business labor economist Edward P. Lazear has found that generalists, who have knowledge in a broad range of areas, hold a higher chance of reaching the corner office than do specialists.

"The higher you get in an organization, the more likely you are to encounter problems from a variety of different areas," he says. Because CEOs in particular encounter so many different kinds of issues, "those people have to be generalists."

Read the article...

Securing your letters of reference should not simply be a means to an end. Instead, suggests Derrick, view it as an opportunity to "initiate candid conversations about your personal and professional development."

Derrick believes that, as a result, your recommender will "produce a more powerful letter of reference because the process itself will have been so compelling."

Read all of Derrick's tips...

Citing more innovative sustainable design features than any other business school in the country, the Silicon Valley/San Jose Business Journal has named the Knight Management Center--future home of the GSB--winner of its 2010 Green Project of the Year, Private Award.

The Knight Management Center is scheduled for completion in spring 2011 and strives to be a generator of clean energy, a responsible user of water, and an exceptional environment for its inhabitants.

The GSB is seeking a LEED(R) Platinum rating, the highest level of certification currently offered by the LEED(R) Green Building Rating System from the U.S. Green Building Council, and features innovative heating and cooling systems, the use of reclaimed building materials, extensive natural lighting and ventilation, and an on-site solar array.

As you can imagine, everyone here is very excited about our future new home!

Learn more about the Knight Management Center...

Ciao,
--Rita

Here are some just-released statistics from our 2010 Employment Report:

--93% of graduating students had job offers 90-days after graduation.
--88% of graduating students reported a change in both industry and function from their pre-MBA position.
--15% of graduating students accepted a job in the Northeast United States.
--14% of graduating students accepted a job outside North America.
--11% of the graduating class reported they were starting entrepreneurial ventures.

View the complete report here.

On a recent trip to the University of Pretoria's Gordon Institute of Business Science in Johannesburg, South Africa, Dean Garth Saloner gave a talk on what makes California's Silicon Valley so successful.

What would it take to duplicate this success? Saloner discusses what he calls "the ecosystem of participants" that drives innovation, the role of Stanford University in the creation of new ventures, and the Valley's business culture, including the complete venture capital life cycle.

View it here ...

Ciao,
--Rita

When the financial markets crashed two years ago, Americans discovered that all too many banks and financial institutions became distressed because of their high degree of leverage. Since then, regulators, economists, and the banking industry have jousted over the question of how much equity capital banks should hold.

The prevailing argument by the industry and its allies is that raising equity requirements will weaken banks and raise the cost of borrowing for everyone because "equity is expensive." But is that really the case?

In a new, and likely to be controversial, research paper, Anat Admati, of the Stanford Graduate School of Business, and her colleagues argue that this is not the case. "Quite simply, bank equity is not expensive from a social perspective, and high leverage is not required in order for banks to perform all their socially valuable functions, including lending, taking deposits, and issuing money-like securities," they wrote.

Read more...

The Dalai Lama is no stranger to Stanford. A few weeks ago, he paid his 3rd visit to Stanford University and his visit raised the profile of the Stanford School of Medicine's Center for Compassion and Altruism Research and Education (CCARE), one of many interdisciplinary hubs on campus.

CCARE is unique not only because the Dalai Lama made a significant private contribution towards its founding, but also because the Center encourages a team of neuroeconomists, neuroscientists, physicians, psychologists, religious scholars and many others to undertake a rigorous scientific study of the neural, mental, and social bases of compassion and altruistic behaviors.

Is it better to give or to receive? A neuroeconomic Research is one of several major research projects "aimed at understanding the neural underpinnings of, and the brain mechanisms that are associated with, the experience of compassion and other associated mental states."

According to Philip Pizzo, dean of the Stanford School of Medicine, "This is a unique focus that can only be approached in an institution with a broad and deep commitment to interdisciplinary research and education."

Yep, that's Stanford!

Read more...

Ciao,
--Rita

Virtue seems to pay according to Professor Charles M.C. Lee whose research shows that publicly-held firms in countries perceived as less corrupt trade at bigger market premiums than those in places deemed more corrupt.

Stock markets are supposed to be the ultimate arbiter of company worth. But do they factor in a country's corruption, or virtue in valuing businesses?

Yes, says Charles M.C. Lee, an expert on markets and accounting at Stanford's Graduate School of Business. The GSB professor recently discussed his research showing that ethical lapses matter in the market value of companies. Publicly-held firms in countries perceived as less corrupt trade at bigger market premiums than those in places considered more corrupt, according to Lee. "Virtue seems to pay--at least over the longer term," he said in a November 5 talk.

Read more...

In keeping with the University's efforts to address global challenges, Stanford's Graduate School of Business and Law School have combined forces to establish the Steyer-Taylor Center for Energy Policy and Finance. This interdisciplinary center will study and advance the development and deployment of clean energy technologies through innovative policy and finance.

Read more about the new center.

Today at exactly 1 PM local time, a crowd of GSB students, staff and faculty joined guest Duncan Niederauer, CEO of NYSE Euronext, and Dean Saloner in ringing the closing bell for the New York Stock Exchange remotely, via satellite feed.

This was a first for most, if not all, of us and it was fun to participate in this 150-year old tradition.

--Rita

We are very excited to announce our Winter Quarter Campus Visit schedule, and are pleased to report that all info sessions and class visits will take place at the new Knight Management Center.

On Friday, 10 December 2010, initial registration will open for Winter class visits and information sessions. The first information session will be held on Friday, 7 January 2011. The first opportunity for class visits will be Thursday, 13 January 2011.

Please be aware that attending one or more of our on-campus events is neither required nor expected. Our events offer a chance to experience a day at the GSB, but do not result in preferential treatment in the admission process.

This past quarter, we accommodated almost 700 class visitors. Based on our survey results, almost everyone enjoyed their class visit.

We look forward to seeing you in the coming months.

Take care,
Joe Sicora
Admissions Coordinator

» Directions to Knight Management Center (the GSB's new home)...

» Event Details...

We've been promising a new Knight Management Center, and now we're making good. Knight is almost complete, and the MBA Admissions Office is moving!

We will be closed for winter break from 20 December 2010 - 2 January 2011. When we return on 3 January, our address will be:

MBA Admissions Office
Knight Management Center
Stanford Graduate School of Business
655 Knight Way
Stanford, CA 94305-7298

Once we're in the building (and have emptied our boxes), we'll give you a full report. In the meantime, explore our amazing new home.

Here’s another example of the diversity of Stanford MBA students and the organizations they affect. It was recently announced that Lesley Koenig, MBA/Masters in Education 2001, will be the next general manager of Opera Boston. Koenig, who is a fellow at Stanford's Center on Philanthropy and Civil Society, has held management roles at the Metropolitan Opera and the San Francisco Ballet.

All organizations can benefit from leaders educated in general management. Learn more about where Stanford MBA alumni apply their skills.

With about 15% of Stanford’s undergraduate student body being the first in their family to attend a four-year college, the University has appointed Tommy Lee Woon our first-ever Director of Diversity and First-Gen Programs. He will partner with strong existing organizations like el Centro Chicano, the Native American Cultural Center, the Black Community Services Center, and a rich variety of clubs on campus to address undergraduate student needs.

Best wishes to all as we celebrate the birthday of Martin Luther King, Jr.

Lizabeth, Assistant Director of MBA Admissions & Director of Diversity Initiatives

If you've never attended our XX Factor or Many Voices events, you should consider coming this year. Here are the details:

--Many Voices: Perspectives on Diversity, Saturday, 2 April 2011. Many Voices is an opportunity for prospective applicants who bring diversity to the Stanford GSB community to learn more about our program.

--XX Factor: Women Changing the World, Sunday, 3 April 2011. XX Factor is geared toward women who are considering applying to business school.

Both events will include an overview of the MBA Program, a class immersion experience, and opportunities to hear from students, alumni, faculty, and staff.

Space is limited, so you must complete a brief application if you'd like to attend.

-- Many Voices Application
-- XX Factor Application

Applications for both conferences are due on Friday, 25 February 2011, by 5:00 p.m. (Pacific Time). Decisions will be emailed by Friday, 4 March 2011.

We hope to see you there!

We are very excited to announce our Spring Quarter Campus Visit schedule!

Today, initial registration has opened for Spring class visits and information sessions. The first information session will be held on Monday, 28 March 2011. The first opportunity for class visits will be Thursday, 7 April 2011.

In addition, this is the first quarter that all MBA Classes will be held at the GSB's new home, the Knight Management Center (map).

Please be aware that attending one or more of our on-campus events is neither required nor expected. Our events offer a chance to experience a day at the GSB, but do not result in preferential treatment in the admission process.

So far for the winter quarter, we have accommodated about 150 class visitors!

We look forward to seeing you in the coming months.
Take care,
Joe Sicora
Admissions Coordinator

Last fall, Stanford Magazine talked with GSB students in Professor Callander's Leadership and Crisis Management preterm seminar to learn more about "...perceptions and portrayals of Wall Street and U.S. business as ethically feeble."

"If there was any common theme expressed by the four second-year GSB students we spoke to most extensively, it was that the failings of big business frequently had been sensationalized by the media and politicians. 'Huge mistakes were made,' acknowledged Natalie Diekman. But her greater emphasis was that 'saying the whole business world is unethical doesn't make any sense to me.'"

Read the full article...

Silicon Valley is populated with people who fear only sitting on the bench while someone else scores with a great idea, says Professor Baba Shiv. How people approach failure is a key to success, he argues.

"Failure" is a dreaded concept for most business people. But failure can actually be a huge engine of innovation for an individual or an organization. The trick lies in approaching it with the right attitude and harnessing it as a blessing, not a curse.

I've coined two terms that describe how people view failure: the type 1 mindset, and the type 2 mindset.

The type 1 mindset is fearful of making mistakes. It characterizes most individuals, managers, and corporations today. In this mindset, to fail is shameful and painful. Because the brain becomes very risk averse under this line of thinking, innovation is generally nothing more than incremental. You don't get off-the-charts results.

The type 2 mindset is fearful of losing out on opportunities. Places like Silicon Valley and the Stanford Graduate School of Business are full of type 2s. What is shameful to these people is sitting on the sidelines while someone else runs away with a great idea. Failure is not bad; it can actually be exciting. From so-called "failures" emerge those valuable gold nuggets — the "aha!" moments of insight that guide you toward your next innovation.

Read the full article...

With the round 3 application deadline just around the corner (06 April 2011), I wanted to remind you of all the great resources available to you on our website.

If you have questions about how to prepare for the essays, or choosing a recommender, check out Admission

To find out if your test scores (GMAT-GRE, or TOEFL-IELTS-PTE) are still valid, go to our handy test scores calculator

Information on Admission Criteria, Application Requirements, Deadlines and Fees can be found in the Admission section as well.

If, after reading the website, you still have questions, please contact us.

Best wishes,
--Rita

Don't take too much risk ... or too little, advises Mike Aviles, MBA 1990, the 2011 Porras Latino Leadership Award winner. "Take what risk you're comfortable with. The ones who distinguish themselves … figured out what to pursue and took appropriate chances".

Versatile, turnaround expert, energetic, personable. Those are just a few of the adjectives used to describe Mike A. Aviles. But if you ask him, Aviles would rather use the word “lucky."

Aviles accepted the Jerry I. Porras Latino Leadership Award at a banquet hosted Feb. 26 by the Stanford GSB Hispanic Business Students Association. It was the 15th time the association has honored an alumnus who has made a significant contribution to the business and Latino communities.

Aviles, a resident of Austin, Texas, isn't the shortstop for the Kansas City Royals, as he is quick to tell you, but an executive with a track record for managing companies selling products as diverse as software and sunglasses. From 2006 to 2009 he was president and CEO of Vignette Corp., a major player in the enterprise content management industry. Currently, he heads his own consulting firm, Grow2Day LLC.

He has been active in the Young Presidents Association and with the Stanford Business School Alumni Association and mentorship programs. In Austin, he has served on the board of trustees of St. Edward's University.

If he has a passion, Aviles said in his brief remarks at the banquet, it is for education.

"I was born in Puerto Rico, raised in New York, and neither of my parents graduated from college but [they] understood the value of a college education," he said. While at Stanford, he worked with the East Palo Alto schools and with the Breakthrough Collaborative, which helps low-income students pursue careers in education.

Stanford holds "a special place in my heart," he said, and it has had a "tremendous impact on my career and life."

Read the full article...

With nearly 32 million visitors last year and its first quarterly dividend in the bank, Latin America's MercadoLibre e-commerce site is on its way, founder Marcos Galperin, MBA '99, told a Stanford Graduate School of Business audience during a recent visit.

In its early days, the founders of MercadoLibre wanted to ensure that their online company, considered the eBay of Latin America, just survived.

The e-commerce enterprise, founded in 1999 by several Stanford Graduate School of Business alumni, has not only survived but thrived, and is now taking strategic steps to beef up its services as more users throughout the region flock to the internet.

The Latin American online e-commerce site recently announced its first quarterly dividend on the heels of a $6 million profit and $200 million in revenue last year. "It’s a great thing to be able to give back to our shareholders some of the money they have invested," said CEO Marcos Galperin, MBA '99, who founded MercadoLibre — Spanish for "free market" — right after graduating from the GSB.

Galperin addressed more than 100 students at the GSB on March 3 as part of the Global Speaker Series, an event cosponsored by the Latin America Student Association and the Entrepreneurship Club. He detailed moves the company is making to capitalize on the trends that have boosted internet penetration in the region from 3% in 1999 to 36% today.

MercadoLibre is the dominant e-commerce platform in Latin America, with 31.8 million unique visitors last year and an average of 1.7 billion pages viewed monthly. Launched in Argentina, the company now operates in 12 countries, including Brazil, its largest single market. U.S.-based auction giant eBay took a 20% stake in 2001 and is MercadoLibre’s biggest minority shareholder.

Read the full article...

Nuclear power plants don't have to be as expensive and large as they currently are if they utilize Small Modular Nuclear Reactors, which could be the future of atomic power generation. Glorified golf carts could be an important mode of transportation for the 93% of trips that take Americans less than five miles from their home, but will require a change in consumer behavior to take hold. And charging motorists to follow certain traffic patterns could go a long way to relieving congestion.

These were some of the conclusions reached by Megan Guy, Graeme Waitzkin, and Eli Gregory--all MS/MBA Class of 2011--who, in addition to pursuing their MBA degress, are working towards their Master of Science degrees from the Stanford Emmett Interdisciplinary Program in Environment and Resources.

Read the article...

By 2040 Africa will have a larger workforce than China or India, speakers told a Stanford Africa Forum 2011 conference, exploring opportunities for business development in the 50-plus nations of that continent whose business opportunities are often overlooked.

Africa has an unfortunate PR problem. While new coverage of the area is often focused on political unrest, conflicts, poverty, drought — Africa is in fact doing just as well as, if not better than, other developing regions of the world.

This was the message from more than a dozen entrepreneurs, executives, and venture capitalists speaking at the Stanford Africa Forum 2011 conference, held at the Graduate School of Business in January 2011.

These natives and ex-patriots alike agreed that the 50-plus nations comprising Africa represent remarkable opportunities for local, regional, and international business enterprises to do well while doing good.

The key, said Babajide Sodipo, former advisor to Rwanda's Ministry of Trade and Industry, is to focus one’s business sights on efforts that truly meet the people's needs. "African governments don't want investment for its own sake," he said. "They want those that will create prosperity and improve people’s lives."

Africa is, in fact, ranked as "easier to do business" in than either China or India, according to Thomas Barry, founder of Zephyr Management investment firm, who delivered the opening keynote address. And it supersedes the other two countries in another factor critical for business success: renewable internal freshwater resources. Moreover, by 2040, the continent will have a larger workforce than China or India, totaling more than 1.1 billion people.

Read the article...

We are pleased to announce that Herb Allison, MBA 1971, will speak at this year's graduation ceremony at the Stanford Graduate School of Business.

"Herb was among a select list of leaders students wanted to hear from this year," said Garth Saloner, Philip H. Knight Professor and Dean of the Stanford Graduate School of Business. "At this time of tremendous uncertainty and instability in the world, Herb's recognized contributions to both the corporate world and the community serve as inspiration for the kind of principled leader our students want to become. On graduation day, Herb's personal journey and character stand as an example of the GSB's call to change lives, change organizations, change the world."

In recent years Allison's career has been devoted to solving some of the most difficult problems affecting finance and the U.S. economy. As the U.S. Assistant Secretary for Financial Stability and Counselor to the Secretary of the Treasury, Allison supervised the $700 billion Troubled Asset Relief Program (TARP) until stepping down last September. The former chairman, president, and CEO of pension fund TIAA-CREF, Allison also served for 28 years as a leader at multiple levels of management at Merrill Lynch, rising to President, COO, and board director.

Read the article...

Organized by the Stanford GSB Program in Healthcare Innovation, the Stanford GSB Healthcare Summit is an annual conference exploring the innovations that are likely to transform the global healthcare marketplace.

It provides a forum where business and government leaders, academics and students can debate the forces that will shape healthcare delivery in the 21st century. Participants will learn how business--both large and small, established and startup, US-based and global--innovate to improve patient outcomes while attempting to control the growth in health care costs.

The conference consists of a series of interactive panels and speakers featuring prominent health care leaders.

When: Wednesday, 11 May 2011

Where: Stanford GSB Knight Management Center

For more details, agenda, and registration info, go to http://healthinnovation.stanford.edu/

Stanford Graduate School of Business alumni based in Japan find unexpected obstacles as entire industries face disruption and an unknown future since the March 11 earthquake and tsunami.

Shige Yamaji, MBA '93, who lives part time in the San Francisco Bay Area but who was in Tokyo at the time of the earthquake shared this story with the GSB community:

"When the earthquake hit at 2:45 p.m. on March 11, I was on the 39th floor of a 42-story, 4-year-old building close to Tokyo Bay in Minato-ku of downtown Tokyo. While I was not injured, the shakeup was so massive, lasting about 10 minutes, I thought the building would collapse. It's beyond my imagination how frightful the shake may have been for those who went through this in the Eastern Tohoku Region and Ibaraki Prefecture, areas that had the biggest shake.

My venture, called Flora Holdings, is experiencing some challenges related to the disasters. We have three operation companies, two in Japan and one in the United States, and provide a membership-based social-commerce platform for Japanese senior citizens on both analog and digital ends. Members can buy and sell products, as well as make friends, using our customized tablet PCs or they can meet, sell, and buy through 120 local Fukiya clubs that also host recreational programs for seniors. Fukiya is a blowgun sport involving deep breathing and mental concentration that is gaining popularity among Japan's senior citizens partly for its health benefits. Japan is the leading aging society, with people over the age of 55 accounting for more than 35% of the population and the highest life expectancy among all countries. The products sold on the platform are mainly food products. Some of our member merchants providing produce for the platform have had their business base wiped out by the tsunami. These include oyster beds near the fishing village of Miyagi Prefecture and a rice farm near the sea in Iwate Prefecture, the two hardest hit prefectures. The great news, however, is that none of our merchants lost their lives.

We are now discussing ways to help these merchants get back to their fishing and farming business, but it has been difficult at best with all civilization lost in the area. In fact, we were able to reconnect with them just recently, more than two weeks after the quake, as there has been no means to contact them with the mobile network in the area dead and the landline service base wiped away. To make the situation worse, the nuclear radiation and contamination damage to agriculture and fisheries cannot be assessed by anyone at this time."

Read Shige Yamaji's full article...

The 6,000-member Organizational Behavior Division of the Academy of Management will present its lifetime achievement award in August to Charles O'Reilly III, the Frank E. Buck Professor of Management at the Stanford Graduate School of Business.

The division's members are scholars who study individuals and groups within an organizational context.

The lifetime achievement award is reserved for scholars who have been outstanding publishers of research and teachers in the field over two decades. In notifying O'Reilly of his selection, Division chair Carrie Leana wrote that his research on "communication and decision making, culture, commitment processes, demography, compensation, social control, diversity, and organization architectures has shaped the very way that OB scholars and practitioners look at the impact of social process and incentive mechanism." She also noted his past receipt of teaching awards and said that he was the only organizational scholar to receive the Scholarly Contribution Award multiple times from the 85,000-member Administrative Science Quarterly, which is best known for administering the Malcolm Baldrige National Quality Management Award that is given to outstanding businesses.

Please join me in congratulating Professor O'Reilly!

--Rita

Please join us on 29 April 2011 to celebrate a community-wide launch and Open House of the Stanford GSB's Knight Management Center. We are welcoming alumni, friends, students, faculty, and staff from throughout Stanford, business leaders, and prospective students for this historic milestone.

Highlights include Food, Live Music, T-shirts and more!

No RSVP required!

More info...

Jeff Smisek, President and CEO, United Continental Holdings, oversees one of the most complex of business operations, running the world's largest airline following the merger of United and Continental--with 87,000 highly unionized employees, 5,800 departures daily, and more than 140 million passengers each year.

In his View From The Top talk at Stanford, he discusses the role the CEO must play in developing and propagating a customer service culture, aligning stakeholders around a focused plan, and managing crises virtually daily.

As a hedge fund guy, I never thought I would find value in this class beyond formal coaching and mentoring situations, but it has made me more thoughtful, perceptive, analytical, and generally adept at identifying problems and employing the coaching techniques to make powerful and life-altering changes."

So wrote one MBA student in nominating Carole Robin for the 2011 MBA Distinguished Teaching Award, given each year to a faculty member in honor of their passion for teaching and their skill in connecting with students on a personal level.

Another nomination read, she "is one of the instructors at the GSB who has helped me learn the most about myself, and who has inspired the most personal development in me. She has taught me not only how to be open to feedback, but also how to value myself as an individual, coach and leader."

Robin is a lecturer in organizational behavior, who teaches a half dozen classes and is also director of the school’s Arbuckle Leadership Fellows program. She currently teaches Interpersonal Dynamics, High Performance Leadership, Leadership Coaching and Mentoring, and Taking Stock and Moving Forward to MBAs.

Before being appointed as a lecturer at the business school in 2002, Robin, who was raised in Mexico City, had been a partner and principal at Destra Consulting Group, LLC, an international consulting firm, and had been a national account manager for Honeywell's Industrial Controls Division as well as the 13-state western regional manager for the Modicon Division of Gould, Inc.

Speaking at the award ceremony, Robin said "I am pleased and proud to see both the organizational behavior area and the experiential learning pedagogy that characterizes my teaching, honored with this award. Many of you who have taken classes from me have heard me assert that people do business with people--they don't do business with things, they don’t do business with ideas, they don’t even do business with money--THEY DO BUSINESS WITH OTHER PEOPLE."

Please join me in congratulating Carole Robin!

--Rita

Congratulations to Andre Woolery, MBA 2006, who received the 2011 Black Enterprise Innovator of the Year Award.

Targeting the professional trades and the do-it-yourselfers, Andre launched MagnoGrip with the MagnoGrip Magnetic Wristband--the company's flagship product--while at the Stanford Graduate School of Business.

It's official; the new application season has begun! We are now accepting applications for Fall 2012 entry into the Stanford MBA Program. As a reminder, our application deadlines are:

Round 1 12 October 2011, 5:00 PM PT
Round 2 11 January 2012, 5:00 PM PT
Round 3 04 April 2012, 5:00 PM PT

But, why wait when you can apply now?

We also wanted to point out that we've made some changes to our essay questions, particularly question number two. Take a look at the essay page, which includes guidelines for writing and editing your essays.

We'll keep you posted about other admission tips and updates. We hope you'll be a part of our 2012 application season.

One of the best ways to learn about the Stanford MBA Program is by attending one of our events. We will be traveling all over the world this summer and fall, and we may be coming to a city near you.

Take a look at the list of cities we will be visiting, and stay posted for additions to this list, as well as updates about times and locations.

We will also continue to offer on-campus information sessions during the summer months, on Mondays at 10 AM and Fridays at 3 PM.

You can register for any of our events here. We hope to see you soon!

You may have heard that, as of 1 August 2011, the GRE Exam is undergoing changes (and, yes, we do accept the GRE for admission to the Stanford MBA Program). Due to the new GRE score reporting timeline, if you want to apply in Round 1, you must take the GRE prior to 01 August 2011. If you take the GRE on or after 01 August, you’ll need to apply in Round 2 or Round 3. As a reminder, our application deadlines are:

Round 1: 12 October 2011
Round 2: 11 January 2012
Round 3: 04 April 2012

For more information on the GRE and the score reporting timeline, visit the GRE website.

Have you already started your essays or are you still thinking about what to write about? In either case, you might benefit from reading Dean Bolton's updated column on how to write effective essays:

"Regardless of the outcome of the admission process, I believe strongly that you will benefit from the opportunity for structured reflection that the business school application provides. I hope that you will approach the application process as a way to learn about yourself—that's the goal—with the byproduct being the application that you submit to us."

Read more...

Best wishes,
--Rita

One of my favorite things to do at the end of spring quarter is attend the symposium where our joint-degree students (MBA and MS in Environmental Resources, also known as E-IPER) present their capstone projects.

The projects this year varied from wind generation to water re-use in a sweater manufacturing company in Indonesia, but all showed the passion our students have for taking the knowledge they’ve gained here to solve some of the biggest environmental problems.

The team that won the prize--it’s a mouthful, the Feigenbaum Nii Foundation Symposium--for the best project was made up of three of our GSB students: Ashish Jhina, Dan Tuttle, and Florian Weidinger. They also, by the way, placed in the finals for the Hult Global Case Challenge, co-hosted by the Clinton Global Initiative.

Ashish is from India where he's observed first-hand the tremendous lack of access to sanitation and water infrastructure. Dan is from the US, and Florian from Germany.

The team came up with a rating system, called "HydRate," that will help communities communicate their ability to pay for water and sanitation services to potential capital providers.

Hydrate would eventually also rate portfolios of projects and structure guarantee for investors. These portfolios would re-shape the way micro-infrastructure is financed by bringing down the philanthropic cost of capital.

You often hear of ventures that were started by students right out of school. This is just how it happens…working on a class project like this Ashish, Dan, Florian, and their two other teammates, engineering student Sebastien Tilmans from Maryland and Ido Sum from Israel, are looking to raise $2.2 million to pilot HydRate in India and Kenya.

You can read more about them here. We’ll be following them as their story unfolds…stay tuned.

--Allison Davis

Greetings from the Stanford MBA Admissions Office! It is almost time to welcome our students and prospective students to campus.

On Monday, 22 August 2011, registration will open for Fall Class Visits and Information Sessions. Our events will begin on Monday, 19 September 2011.

While we encourage you to visit the Stanford GSB and get to know our program better, a campus visit is neither required nor expected. Out of fairness to all applicants, we do not give preferential treatment in the admission process to those who have visited the GSB.

For detailed information about our events, please visit our on-campus event page.

We hope you will be able to join us for some events this fall.

Take care,
Madison Kawakami
Admissions Coordinator

High school was…well, not fun. Being gay made me feel different than those around me and I just didn’t know how I was 'supposed' to deal with it. But since then, so much has changed both in my own life and the world around me--I learned that I can be openly gay and still lead a happy and rewarding life.

Coming to the GSB last fall it was clear that there were others who had similar experiences and we all wanted to share our messages with LGBT who are still in school.

We hope this video can help us achieve that goal.
Sergio Gomez, MBA 2012

Hi folks,
Here's an interesting article featuring Stanford GSB Professor Deborah Gruenfeld. It asserts that "Very few people succeed in business without a degree of confidence, but no one is immune to bouts of insecurity."

And if there's anything I've learned from my job in MBA Admissions, it's that the application process can trigger those bouts of insecurity! So many of the questions we hear from you are masked ways of expressing your real fears: "do I have a chance of getting in?" or "how can I get in?"

According to Professor Gruenfeld, "Overcoming this self-doubt starts with honestly assessing one's abilities and shortcomings, then getting comfortable enough to capitalize on--and correct-- them."

I can't think of a better suggestion for you in the application process! The more honest your self-assessment, the more likely you are to apply to the right schools *for you,* and the stronger your applications will be. What's more, that self-reflection will dramatically improve your MBA experience--you'll know why you are here, what you want from the experience, and be a step ahead in the process of transforming yourself as a leader that starts in your first quarter here through the Leadership Labs.

So read on for more thoughts about what to do "when the doubts creep in," and remember that we are more interested in your accomplishments, strengths, and potential to have an impact than in any one essay or test score. I look forward to meeting you at our information sessions or through your application.

Read the article...

Lizabeth
Associate Director of MBA Admissions

Christopher Bockman, Mudit Garg, Woody Hartman, Joanna Pratt, and Karl Werner (all members of the Class of 2012) were just named the 2011-2012 Siebel Scholars.

As Dean Garth Saloner said: “Our goal in our educational programs is to educate principled critical analytical thinkers who can change the world. In this award we honor students who not only have demonstrated academic excellence, but who also through their actions exemplify the values which enable us to achieve our goal: engage intellectually, strive for something great, respect others, act with integrity, and own your actions.”

Siebel Scholars are selected by a GSB selection committee which reviews feedback from professors as well as student-services administrators. The award may include a tuition fellowship/grant.

Congratulations to Christopher, Mudit, Woody, Joanna, and Karl!

If you find it difficult to attend a daytime Stanford MBA Program Information Session, take a look at our new evening options. These evening sessions will include an overview of the MBA Program, followed by a panel discussion and Q&A period. The evening sessions will all take place at 7:00 PM on 2, 16, and 30 November, and 14 December.

Space is limited, so register now.

It's "deadline day" as we call it around here, the due date for Round 1 applications, but also the kick-off to our admissions reading season. All hands are on deck, answering the phones that are ringing off the hook with last-minute questions, and responding to emails from applicants and recommenders. Years ago, before electronic applications, our office would be besieged with piles of FEDEX packages and applicants walking (sometimes running) in to drop off their paper applications. Although it's quieter now that everything is paperless, there is still an unmistakable buzz in the air. It's the excitement of a new season and the anticipation of reading applications by the amazing people from the world over who want to come to Stanford. We can't wait to get started.

For the last couple of months, our admissions officers have been circling the globe, meeting prospective applicants at information sessions, company visits, and fairs. Here are some stories from the road.

From Lizabeth...The most unusual thing that happened was at the women's session in NYC. One of the panelists was late. When she arrived, she apologized for being late, saying "I was putting out a fire...literally!" Turns out that her firm manages buildings, and one of them was ACTUALLY on fire. She couldn't leave the office until it was put out, but stayed late to help answer every last question. Now that's commitment!

From Seda... I love being on the road and meeting with prospective students who are starting to think (and dream!) about where they want to go to business school. Tokyo was no exception this year, but this year we decided to try something different. Instead of doing the usual large (and very formal) information session with 300+ attendees, we broke our general session into two. As usual, we had an incredible turnout from GSB alumni in Tokyo who shared openly about their experiences at Stanford, along with the messages that many in our community end up discussing (giving back, serving a larger cause, innovation). The difference this time was that everything was really resonating with the crowd, especially in the smaller format. I looked around the room and saw clusters of alumni and prospective students deeply engaged in conversations, but the topic wasn't just Stanford, or business school; they were talking about ideas that could help their country in the face of the devastating tsunami and the challenging economic environment. It was so encouraging to see the Stanford spirit generate so much excitement.

From Lisa...An applicant who was "on the circuit" attending numerous presentations by business schools shared a funny observation with me: “Most alumni shake hands with each other. But Stanford GSB alumni hug each other.” Being a GSB alumna, I could completely relate! The GSB really is a family. There's lots of laughter and merriment when we gather. And our alumni are incredibly excited to meet prospective students and the future generations of the GSB community.

We are very excited to share with you that the Stanford Graduate School of Business has established the Stanford Institute for Innovation in Developing Economies with a $150 million gift from Dorothy and Robert King, MBA 1960.

The institute's goal is to stimulate, develop, and disseminate research and innovation that enable entrepreneurs, managers, and leaders to alleviate poverty in developing economies.

>> Find out how their interactions with GSB students inspired Dottie and Bob King

>> More about the Stanford Institute for Innovation in Developing Economies

The end of the EAP is a big deal around here. One of many GSB acronyms, EAP stands for Exclusive Academic Period and refers to the first 6 weeks of school when the first-years focus on their academics. Kind of a "no-fly zone" where organized extracurricular activities are put off until after midterm exams. The idea is that incoming students can get used to being back in school without having to juggle a full calendar.

The end of the EAP was 1 November, and on 2 November, the students organized a huge Student Activities Fair where all the clubs came out to recruit.

In the picture below, you'll see one section of the fair, which extended across the Town Square and filled the Community Court as well. More than 70 clubs were represented, including the Africa Business Club, the Energy Club, the Rugby Club, and even GSB Dogs!

Among the other amazing opportunities, students could also sign up to be matched with an alumni mentor, to become an Arbuckle Leadership Fellow where they'll get advanced leadership training and coach other students, or join the Women's Entrepreneur Mentoring Program.

All these options lead to another common syndrome around here--and another acronym--called FOMO, "fear of missing out." There's so much to choose from that students say they struggle with having to decide how to spend their time...but more about that another time.

It was a veritable smorgasboard and reminded me how much of the richness of the learning here occurs outside the classroom.

--Allison Davis

We are excited to announce that, beginning 20 January 2012, Stanford GSB Knight Management Center tours will be offered on most Mondays and Fridays at 3:15 p.m. These 45-minute tours will be led by current MBA students and are a great way to learn more about Knight.

Class Visits and Information Sessions will also be offered on the same days as tours. To sign up for any of these events, visit our on-campus events page.

Registration has just opened for Many Voices: Perspectives on Diversity and XX Factor: Women Changing the World, two events that can help you learn more about the Stanford MBA Program. Both of these events include an overview of the program, a class immersion experience, and opportunities to hear from Stanford GSB students, alumni, faculty, and staff.

Space is limited, so you must complete a brief application if you'd like to attend. See the links below for more information. We hope to see you there!

Many Voices: Perspectives on Diversity
10 March 2012

XX Factor: Women Changing the World
11 March 2012

Over winter break, students traveled all over the world, including Argentina, Cambodia/Thailand, China, India, Kenya, and Qatar/UAE, on Global Study and Service Learning Trips. Participating in a global experience is a required part of the GSB's curriculum. It's also a highlight for many students, who return from their trips with amazing insights and stories. To get the inside perspective about student trips and see video clips, visit the Stanford GSB website.

Round 2 deadline was last week, and so we are in full swing. Reading the large volume of high-quality applications that Stanford receives is a challenging and enriching job. You might be interested in hearing what it's like for our staff reading your applications. Here are some comments from our readers about their experience...

— "It's like reading hundreds of biographies. Everyone has a story to tell."

— "When someone I've recommended for admission gets in, I feel that in my own small way, I've enabled someone who is eventually going to change the world."

— "The applicants have accomplished so much and have so much to offer the world. It's disappointing that we can't take them all, but I am reassured by knowing that they're going to go on and do great things even if they don't attend Stanford."

— "The toughest aspect of choosing among applicants is the limited number of seats in the class. I always feel we could fill several full classes with well-qualified applicants from our pool."

— "The collective pool offers much diversity, in terms of industry, background and aspiration. They are all interesting people that I'd love to know well."

— "It's a lonely job and the volume can be daunting...as long as my eyes hold out, I'll be fine!"

One thing all of our readers agree on is that after spending many weeks getting to know our "flat friends", it's a joy to finally meet our admits in all of their 3-dimensional glory!

Cheers,
Allison

Ever wondered what it's like to be an MBA student at the Stanford Graduate School of Business?

Follow the photo diaries of 15 second-year students who documented several days during fall 2011 quarter and find out everything from the classes they took and the housing choices they made, to their favorite memories and post-MBA goals.

View the Day in the Life photo diaries...

Last week I attended a presentation by one of our Japanese alums, Kenji Tateiwa '04, who was in the thick of the Fukushima nuclear accidents in March 2011. Kenji shared with an audience of Stanford alumni his experience as a nuclear engineer and manager at Tokyo Electric Power Company (TEPCO), which owns and operates the nuclear power stations that were severely damaged by the tsunami. This was a rare opportunity to hear the facts from someone on the inside, including information that is not well-known to the public. It was both harrowing and moving to hear Kenji quote from the workers on-site who were dealing with the crisis in darkness with only flashlights and who believed they may never see their families again. Kenji began his presentation by sharing part of his "What matters most to you" essay from his application to Stanford 10 years ago. It was inspiring to hear the aspirations he expressed in his essay about his "dream of establishing a perfect energy world -- one sustainable from an energy point of view and protective of mother nature". And, now, to see what a critical role he is playing in strengthening the U.S.-Japan relationship so that the lessons learned from the Fukushima accident can enhance nuclear safety worldwide. Kenji said that the GSB mantra of "Change lives, change organizations, change the world" guides him in this important work.

UPDATE Japan's Nuclear Crisis Points To Need For Sharing Crisis-Management Talent

Allison

Stanford GSB alumni become an integral part of your MBA experience through active participation as mentors, class speakers, project resources, and recruiters. They are also renowned for staying involved with the Stanford community long after graduation.

An alum who epitomizes this spirit of giving back is Steven Denning, MBA 1978, who was just elected chair of the Stanford University Board of Trustees. In addition to supporting the University, Denning continues to volunteer for the Stanford GSB where he is a member and former chair of the school's Advisory Council.

Please join us in congratulating Steven Denning on his election to chair of the Stanford University Board of Trustees.

Read more at Steven A. Denning elected chair of Stanford University Board of Trustees

Recordings of two recent webinars are now posted on our website at web-based events. These webinars may answer some of your questions about a unique scholarship opportunity offered by Eli Lilly in collaboration with Stanford as well as how the Stanford GSB can prepare you for a career in Africa.

Stanford MBA Admissions Webinar for Prospective Students in Africa (held 30 November 2011)
Featuring Chinezi Chijioke, MBA 2005; Andreata Muforo, MBA 2009; Seun Oloruntimehin, MBA 2012; and Tayo Oviosu, MBA 2005

The Charles P. Bonini Partnership for Diversity Fellowship Program (P4D) (held 8 December 2011)
Featuring Allison Osler, MBA 2010; Tiffany Abdullahi, MBA 2013, and Juan-Pablo Mas, MBA 2011.

Now available on Stanford on iTunes U, download "New Sights on Campus," an enhanced podcast that takes you on a stroll through some recent additions to Stanford's campus.

The tour begins at the Knight Management Center at the Monument to Change as it Changes art installation. You'll also visit the east side of campus, including the Stanford School of Medicine.

The podcast can be viewed online or downloaded to a smartphone.

We know that many of you Round 2 applicants are waiting anxiously to get an interview invitation. How do we know this? Because you call and email us, asking if interview invitations are still going out. (And, yes, they are.) In the meantime, we thought you might be interested in hearing a bit from our interviewers: why they interview for us and their advice on how best to prepare for an interview. As you probably know, the vast majority of our interviews are conducted by hundreds of GSB alumni all over the world.

Why do our alums volunteer as interviewers?
— "This is the way I give back to the school that I love and did so much for me personally and professionally. It means something to me to give back to the GSB."
— "Keeping a strong connection to the school, and contributing in a small way to making sure the very best are in the class."
— "I love the school. I have a good 'no jerk' radar."
— "I meet many exceptional people and get to share the joy of the GSB experience."
—"I am inspired by the interviewees' amazing contributions made and their aspirations to change the world. I also have made lasting friendships with some of them as they keep in touch during and after their MBA at the GSB!"

What is your role as an interviewer?
— "Getting past the ‘prepared answer’ to something genuine/telling."
— "Spending time trying to discover the unique strengths and weaknesses of each candidate."
— "The interview is as much a fluid, casual conversation as anything else. I aim to put the applicants I interview at ease so that we can have an enjoyable conversation."
— "Getting to the essence of a candidate - who they really are, what makes them tick, why they want/need an MBA, why Stanford."
— "I put a lot of effort into getting to know the interviewee, and I really enjoy listening to them. Also I give them the benefit of the doubt and always try to let them give the best answers they can."
— "I try to take the time to really understand the candidate's motivations, strengths and weaknesses, and provide a candid assessment, and I also work hard to represent the school well."

How would you recommend that candidates best prepare for their interview?
— "Understand who you are and be yourself. Overprepared answers stand out as not being genuine."
— "Think critically about how your experiences (work, extracurricular, college, etc.) have shaped you and your motivation to attend business school, specifically the GSB. Be able to condense these experiences into effective conversation pieces."
— "We are pushing hard to dive into candidate's personal accomplishments. I don't think there is any real preparation necessary...other than a good night's sleep and willingness to talk about themselves."
— "Be prepared to have a real conversation."
— "Have a strong story on why the GSB. Demonstrate that you have done your homework and you want to attend this school. It is obvious when the GSB is one of many choices."

More information about interviews is available on our website.

The Knight Management Center has achieved the LEED Platinum rating for environmental sustainability from the U.S. Green Building Council. In order to attain this rating, Knight was designed to generate solar energy and maximize natural resources, while using less water and electric energy. And of course, amidst these environmental innovations, Knight was intended to be--and has become--a place that brings people from the Stanford campus together and facilitates learning.

For more information on Knight's LEED Platinum rating, visit our website.

Each year, the World Economic Forum (WEF) recognizes up to 200 young leaders from around the world for their outstanding "professional accomplishments, commitment to society, and potential to contribute to shaping the future of the world."

This year's list of honorees includes Stanford GSB alums Jane Chen, MBA 2008, Alvaro Fernandez, MBA 2002, Dave Hanley, MBA 2003, Greg McKeown, MBA 2008, and Fred Swaniker, MBA 2004.

The award is a high honor. As Klaus Schwab, Founder and Executive Chairman of the WEF, said, "Within the World Economic Forum community, the Young Global Leaders represent the voice for the future and the hopes of the next generation."

For more information about the award, including a list of the honorees, visit the WEF website.

As this year's application season winds down, and second-year MBA students prepare to graduate, we are planning our summer/fall travel season. We love meeting people out on the road, so look for us in a city near you. And of course, even though class visits and tours are coming to an end for this academic year, you can still attend an on-campus information session at the GSB during the summer.

Over the next couple of months, we will be posting next year's application essay questions, as well as the application itself. If you want to be one of the first to get Stanford MBA Admissions updates and event details, please fill out our Stay in Touch form.

We look forward to the 2012-13 application season. We hope you'll be part of it!

Next year, Stanford MBA students will be traveling to some amazing places on the 2012-2013 Global Study and Service Learning Trips. So far, trip locations include:

Antarctica
Brazil
China
Dominican Republic & Haiti
Ecuador
Guatemala
Iceland & Sweden
India (2 trips)
Indonesia
Israel
Kenya & Rwanda
Mexico
Russia
Rwanda
Saudi Arabia & Egypt
Singapore & Thailand
South Africa
South Korea
United Arab Emirates & Oman

Learn more about the Global Experiences offered at the Stanford GSB.

The new application season is right around the corner, for us and for many of you. If you're eager to get started, take a look at the 2012-2013 essay questions and guidance.

This year, we are asking you to write three essays instead of four.

Essays 1 and 2 are unchanged:

What matters most to you, and why?
What do you want to do - REALLY - and why Stanford?

The Essay 3 prompt now reads:

Answer one of the three questions below. Tell us not only what you did but also how you did it. What was the outcome? How did people respond? Only describe experiences that have occurred during the last three years.

Option A: Tell us about a time in the last three years when you built or developed a team whose performance exceeded expectations.
Option B: Tell us about a time in the last three years when you identified and pursued an opportunity to improve an organization.
Option C: Tell us about a time in the last three years when you went beyond what was defined or established.

Why did we make this change? As we reviewed your essays last year, we were left wanting more insight into how and why you do the things you do. We want to allow you to write more meaningfully. As such, we eliminated one of the required essays and increased the suggested word count for Essay 3. We reduced the combined word limit from 1800 to 1600 words, but the decision of how you allocate those words remains yours.

We feel this change will serve you well and will simplify your application process. Stay in touch this summer for more updates, including the new application set to launch by 1 July.

We hope you'll be part of the 2012-2013 application season!

The Stanford MBA Program application is now available online and it's never too early to get started.

Just as a reminder, our application deadlines are:
Round 1: 03 October 2012
Round 2: 09 January 2013
Round 3: 03 April 2013

As always, you can find application details and advice on our website. We hope to see your application for the MBA Class of 2015!

You’ve probably heard that as of June 2012, the GMAT includes a new section on Integrated Reasoning (IR). And you might be thinking that this is one more thing to keep you awake at night during the application season. But there is no need to worry.

Rest assured that IR is is new to us, too, and it’s going to take us (and our peer schools) some time before we know how to interpret it as it relates to the Stanford MBA Program. What we DO know is that the test was designed to provide insight into how you pull together knowledge from different sources--something you probably do already at work, and will certainly do here at Stanford.

For this application year, we will see your IR score if you have taken the new GMAT, but will focus on the verbal, quantitative, AWA, and total scores. Once we have had the chance to review IR scores in this first year, we will determine how to evaluate them in our process for next year. And, as we never tire of reminding you, no one score or section of a test is decisive in our process. We require no minimum or maximum scores; there is no cut off. We look for indicators of your academic ability throughout your whole application, and a test score is only one data point in a much larger picture.

And of course, some of you haven't taken the new GMAT, which is just fine. Test scores are valid for 5 years, and we accept both the GMAT and the GRE (and we don't play favorites). We do not have a preference about when you take your test. For more about test requirements, including a handy test validation calculator, visit our GMAT-GRE page.

The theme of the conference, which will be held 10 October 2012, is "Shared Value and Supply Chains - Strategies for Success." Chinese environmental activist Ma Jun, recently named the Most Creative Person in Business by Fast Company Magazine, will be a keynote speaker at this event. Register by August 22 and receive $100 off of the regular conference registration price.

Want to visit the GSB and hear more about the MBA Program? Here are three great opportunities:

Open House
11 October 2012, 5:00 - 9:00 p.m.

Many Voices: Perspectives on Diversity
13 October 2012, 9:30 a.m. - 6:00 p.m.

XX Factor: Women Changing the World
14 October 2012, 9:30 a.m. - 6:00 p.m.

All of these events allow you to gain insight into the admission process, see the campus, and hear about the MBA Program from students and alumni who know it the best. Space at all three events is limited, so please register for just one by 14 September. Also, these events are intended for, and will be most helpful to, those of you submitting your application in January 2013 or later.

We hope to see you here in October!

Want to know more about what it's like to be in a GSB classroom? We just posted a video that highlights the variety of engaging ways you can learn here. Take a look!

Registration has just opened for Fall Quarter Class Visits, which begin on Monday, 8 October 2012. Find out more about these, and our other on-campus events, on our website.

And, as we always say (because we mean it), visiting Stanford GSB is a great way to get to know our program better, but a campus visit is neither required nor expected. Out of fairness to all applicants, we do not give preferential treatment in the admission process to those who have visited the GSB.

I recently toured the GSB's new Stanford Venture Studio, which opened this past summer. Created by the GSB's Center for Entrepreneurial Studies, the Venture Studio is a place for graduate students across Stanford University to practice the entrepreneurial skills and concepts they are learning in the classroom. Early-stage entrepreneurs often complain of isolation, and the Venture Studio provides an instant community where teams can share skills, test ideas, and get feedback and inspiration. In addition to peer-to-peer interaction among the teams, the Venture Studio offers practical workshops, peer feedback sessions known as Start-up Mob, small-group Q&A with company founders, one-on-one advisory sessions, and practice pitch sessions. The Studio serves as both a hub for the entrepreneurial community to participate in events open to the entire student body and as a dedicated workspace for graduate student-led teams from any school at Stanford. There is an application process to use the Studio, and student teams are then given 24/7 key card access. The Venture Studio is not an incubator; it does not take an equity stake in return for services and does not accept teams who are currently selling products or services.

During the summer, 17 multidisciplinary teams (about 50 students) worked on ventures spanning multiple sectors, including healthcare, education, hospitality and tourism, media and entertainment, financial services, big data, real estate, consumer products and service, energy, and agriculture. Katie Fifer '13, an entrepreneurial student who worked in the Studio this summer, commented, "I've learned a tremendous amount not only about tactical things (user interface design, SEO, etc.), but also, more importantly, about managing team dynamics. We're all figuring out day-to-day how we build our teams and all the most interesting challenges come from trying to get those teams to operate at a high level. I know I'm learning far more because I'm surrounded by people trying to figure out the same things."

Besides all the amazing projects going on in the Studio, what also amazed me was how quickly this space was created. The Center for Entrepreneurial Studies started working on the concept last spring, and within a couple of months, a pilot of the Studio was launched. But that's pretty much how things work around here.

An interdisciplinary group of Stanford graduate students in the Venture Studio.

The Stanford MBA Program welcomed 398 new students to campus this academic year. As you may have noticed, the only real constant in Stanford MBA class profiles from year to year is that almost every statistic changes, and the Class of 2014 was no exception. There are many reasons for these fluctuations. With our small class size, even two students can, and do, shift a percentage here or there. But the most relevant factor is that our candidate pool is ever-changing.

These fluctuations also speak to our admission process: we don’t admit categories; we admit individuals. There are no quotas or targets in the admission process, and each applicant is evaluated entirely on his or her own merits. This is why we consider a class profile illustrative, rather than informative. In truth, there is no metric that can measure character.

Since we admit person by person, rather than group by group, we never know a priori what a class profile will reflect. Though the admission criteria remain constant, there were minor shifts in the Class of 2014 profile, including:

· The representation of international students increased to an all-time high of 42%, comprising 53 non-U.S. countries.

· U.S. minority representation reverted from last year's 20-year high of 27% to a more typical level of 20%. All types of diversity matter at Stanford. Our outreach efforts will continue to foster students whose unique perspectives will enhance our learning community.

· The breadth of undergraduate study continues to dazzle us. This year, a few more engineers and humanities majors joined the MBA program, with a handful fewer students who studied business.

· The industry mix changed slightly, but the absolute number both of schools, (especially non-U.S. institutions), and of organizations represented, reached an all-time high. Two-thirds of our new students are the sole person to come directly from that organization.

· Work experience in the class increased slightly to 4.2 years from 4.0 years. This is a peak for the last decade.

>> Read the Class of 2014 profile

In two days, we will be admitting our first round of Class of 2015 MBA students, which is always a busy and exciting time for us. This leads right into the holiday season, during which time Stanford University shuts down and the MBA Admissions Office is closed (22 December-6 January). This gives us time to regroup as we head into Round 2 (which is a good thing, because, let's face it, we could use a breather at the conclusion of Round 1). Many of you applying in Round 2 probably plan to work on your application over the holiday break. If you have questions during our winter closure, please take a close look at our website; most of your questions are answered there. You can also submit questions via the website, but there will be a delay in our response.

As a reminder, the deadline for applying in Round 2 is 9 January 2013, 5:00 PM PST. We look forward to reading your application in the new year!

On-campus events are winding to a close for 2012, but we've just opened registration for next quarter's offerings. Information sessions will resume on 7 January 2013, and class visits on 14 January. Find out more about these, and other on-campus events, on our website.

Visiting Stanford GSB is a great way to get to know our program better, but a campus visit is neither required nor expected. But we can virtually guarantee that, should you decide to visit, there will be no snow!

Attending business school is a life-changing experience. Whether your acceptance letter is already hanging on the wall or if you haven't yet begun the application process, here are some ways to kick off the new year on your way to business school success.

• Take advantage of every learning opportunity at work before you begin business school. Stretch yourself to take on new challenges, even if you may not succeed at first.
• Give yourself time to think deeply about what matters most to you, and how going to business school will help you achieve your life goals.
• Winter and spring are great times for a campus visit. There are few better ways to get a feel for what's in store from a particular program.
• If you haven't yet applied, choose your recommenders carefully. Pick people who know you well and will take the time to write thoughtful recommendations.

Our Round 3 application deadline for the class of 2015 is 3 April 2013. You can read more about the process on our website, and consider visiting us for an info session and campus visit soon. Have a great year, and much luck to you in 2013!

With seven of the 10 fastest-growing economies in the world, Africa is an emerging market rife with challenges and opportunities. Faraimose Kutadzaushe, MBA 2013, is optimistic about the future. Despite the recent economic challenges in his native Zimbabwe, he recently wrote for a Poets and Quants article, "I witnessed a spirit of mirco-entrepreneurship develop. That spirit made me want to take part in restoring my country's economy, even in some small, modest way. Those small companies that people start, they all contribute to our economy, so that's where I want to go with my life."

His desire to make an impact in his home country ultimately led him to apply to Stanford GSB, which he found to be a valuable introspective process. "I wrote an application that was really authentic to what I wanted to do. That made the process easier because I was writing about things that really resonated with me," he writes.

Read more about Faraimose's personal journey and advice for prospective students in the Poets and Quants article, "My Story: From Zimbabwe To A Stanford MBA."

Stanford University and the GSB are committed to playing a role in Africa's economic development. Want to know more? Attend The Stanford Africa Forum, Tomorrow's Africa: Where are the Builders? This year's theme focuses on changing the dialogue around business in African countries, from visions of the future to action toward turning those visions into reality. The keynote speaker is Mitchell Elegbe, managing director and CEO of Interswitch, the largest payment switching company in Nigeria. Register now.

For the first time ever, Stanford GSB held an information session in Chengdu, Sichuan Province, a vibrant modern city of 14 million people and a key inland Chinese metropolis with offices of major Fortune 500 companies. It all started when Paul Chen, a first-year MBA from Chengdu, offered to hold an event for us when he was home for the winter school break. Over 160 prospective applicants turned out at the Shangri-La Hotel to hear Paul and a panel of GSBers talk about their experiences. Both working professionals and college students were there. Even some parents attended and milled in the lobby enjoying the sweets and tea. We were honored to have the deputy director general from the Office of External Affairs of the Chengdu government, the president of the Sichuan Youth League, and the vice-president of a local university in the audience.

Paul talked about his personal journey from Chengdu to Stanford and how he's learning from real global leaders like Dr. Condeleeza Rice, former Secretary of State, who is on the GSB faculty. Frank Hawke, the GSB's director based in Beijing, talked about Stanford's activities in China. The panel, comprised of first-year student Altaf Saiyed, and alumni Kevin Choo (CEO, Accessen Group, a Shanghai-based Sino-US joint venture and the second player in China's Plate Heat Exchanger industry), James Liu (COO of Renren.com), and Yi Xu (Founder of FocusEdu, an education startup based in Beijing) shared their experiences, took questions, and then chatted informally with the crowd.

Some of the comments from those who attended:
"Stanford students have the reputation of being innovative and down-to-earth. The interactions today further confirmed this to me."
"The thoughts of the alumni are very innovative and creative."
"Stanford has a great alumni network in China."
"I liked the openness of Stanford including faculty, alumni and curriculum."
"I felt the panel did a good job of addressing important issues."

Several people said they hoped that Stanford would host more events like this in Chengdu. Based on the tremendous success of our first event, we plan to be back again soon.

Altaf Saiyed MBA '14, James Liu MBA '00, Kevin Choo MBA '04, Yi Xu MBA '08 (left to right).

Frank Hawke, China Director for Stanford GSB.

Paul Chen MBA '14 talking with prospective applicants.

Prospective applicants at the Stanford information session.

Lizabeth C., Associate Director of MBA Admissions, offers some healthy tips on serving up a well-rounded and authentic application.

Living in California, I've begun to think about food differently. I understand what "California Cuisine" is all about - fresh, local ingredients prepared simply so you can taste the amazing flavors. Food that is actually a pleasure to eat. Not that I don't love certain processed foods, but I'm more aware of the difference between the two, and how much better I feel when I eat good food.

Getting up to read applications today, I thought about the parallel. Over the years I have seen more and more applicants over-strategizing, being "coached," or trying too hard to "package" themselves. Sometimes after a day of reading it can feel like I've eaten processed foods all day. There's less pleasure in it for me as a reader, but I think it matters beyond that.

To me, a great dish has good ingredients and is presented well. To put your best foot forward in your application and "present a great dish" to us, here's my advice:

• Try to find the right balance between "well presented" and "processed." We expect you to show us your best self, just make sure it is YOURself.


• Focus more on being a great candidate than on creating a great application. Follow your interests. Take the risk to try leading something or someone. Learn from your successes and failures, and apply that learning to do it better the next time. Step up for challenges. Do an excellent job.


• Stay true to yourself. Don't let anyone else tell you how you should be or what we want. You know yourself best, and if you want to know what we want, then come to us. That's why we travel around the world, do webinars, answer phones, and post on our website. Always go to the source.

Well, now that I've made myself hungry, I need to get back to reading. Happy cooking!

-LC

The recent Future of Media Conference generated over 1200 tweets, with the majority originating from mobile phones. What's the future of media? Well, that in part sums it up. Mobile and on-demand. If this GSB student-organized event, the most tweeted in the school's history, drove one thing home, it is that the future of media to a large extent depends not only on the industry-leading companies that participated in the conference, but the ingenuity and ambition of the over 500 participants, including the many first- and second-year MBA students in attendance. In perhaps a telling sign, the conference was book-ended by keynote events led by GSB grads David Fischer, vice president, Business and Marketing Partnerships at Facebook, and Hunter Walk, director of product at YouTube, exemplifying how integral the GSB has been and will continue to be as the media industry evolves over the coming decades.

It's tough to sum up the future of media in 140 characters or less, but here's some of the most popular tweets of the day:

• Entrepreneurship @stanfordentrepr: Pandora makes more mobile revenue than Yahoo, Microsoft and Apple #fomc13


• Chris McGarry @cmcg: Neilsen is creating new #twitterTV rating to help marketers measure integrated strategies @gyalif #fomc13


• Vicki Slavina, @vslavina: Mobile Facebook users spend twice as much time on Facebook (11hrs vs. 5hrs)


• Kelley Cox @kellypcox: "In order to understand how we are similar, we also need to understand how we are different." #changetheworld #fomc13 @hunterwalk @youtube


• Dragos Bucurenci @bucurenci: Perfect closing for #fomc13 @StanfordBiz @hunterwalk: "Instead of changing the world, help the world change itself!"

Watch highlights from the Future of Media Conference.

Planning to apply to the Stanford MBA Program this fall? Because of our academic calendar, we typically aren't able to offer class visits in the fall prior to the Round 1 deadline in October. So if you'd like to sit in on a class before you apply, now is the time.

Even if you aren't applying in Round 1, spring is a great time to visit. The weather is unbeatable and MBA students are busy and happy.

As always, we know visiting campus isn't a reality for everyone. We don't expect it, nor does it play a role in your admission decision. We just like seeing you here.

Register for an event
Read more about on-campus events

Interested in new technology ventures? Along with your Stanford MBA, you now can earn a joint degree in Computer Science from Stanford's renowned Computer Science department. This exciting program joins the other Stanford MBA joint degree options: JD/MBA, MA Education/MBA, MPP/MBA, and MS Environment & Resources/MBA. Here are some details:

• Current applicants are eligible for the MS Computer Science/MBA joint degree program.
• The program will take 3 academic years (8 to 9 quarters) to complete.
• 129 units total are required, including 45 units of Computer Science courses and 84 units of MBA courses.
• You may "double-count" up to 21 units toward curricular requirements for the MBA and the MS. More than two dozen Stanford GSB courses count toward the MS requirements.
• You get to choose a specialization from one of the following nine areas: Artificial Intelligence, Biocomputation, Computer and Network Security, Database Systems, Human-Computer Interaction, Real-World Computing, Software Theory, Systems, or Theoretical Computer Science.

As we get more information about this program, we'll post it to our Joint and Dual Degrees page. Better yet, fill out the Stay in Touch form (and check the box next to MS Computer Science/MBA), and we'll send you email updates.

We are very excited to announce the Stanford Africa MBA Fellowship Program. Why the enthusiasm?

Africa's opportunities and challenges position this frontier market for growth. We believe Stanford GSB can contribute to Africa's human and economic development by educating leaders committed to making an impact on the continent. This fellowship program is a critical step toward removing any financial barrier.

We also are keenly aware that Stanford GSB's international reputation as a leader in management education is built on the quality and diversity of our students. It is this broad range of experiences and backgrounds that fosters our distinctively collaborative community. African students are an important part of the GSB's student body, and they provide direct insight into an emerging global economy that will be increasingly powerful in business.

A few details about the Stanford Africa MBA Fellowship Program:

• If you are a citizen of an African country, can demonstrate financial need, and are admitted to the Stanford MBA Program, you are eligible for this program.

• The fellowship covers tuition and associated fees (approximately U.S. $140,000) for the two-year MBA Program.

• If you receive a Stanford Africa MBA Fellowship, you will be required to work in Africa for at least two years in a professional role that contributes to the continent's development.

• Stanford GSB will award up to eight fellowships annually.

This is a pilot program we expect to run for three to five years, and ultimately hope to scale globally.

» Read complete details about the Stanford Africa MBA Fellowship
» Read about Stanford GSB in Africa

Christine H., Assistant Director of MBA Admissions, attended Sandberg's recent presentation at the GSB and shares her impressions.

The expression "Lean in" isn't new to HR professionals who have been using it for years. But Sheryl Sandberg, COO at Facebook and author of Lean In: Women, Work, and the Will to Lead, wants to make it a movement. On 2 April, Sandberg gave the Jing Lyman Lecture at Stanford, presented by the Clayman Institute for Gender Research. Speaking to a packed house at GSB's Cemex Auditorium, she encouraged the audience to "do that one thing you think you can't do."

Sandberg focused on women "owning" their own success. She also urged the audience to become aware of, and have conversations about, gender bias. Some of the statistics Sandberg cited were startling. Only 14% of the top jobs in corporate America are held by women, and that number has not changed much in the past 10 years, despite the fact that women now outnumber men in earning undergraduate degrees (they also account for 43% of all GMAT test takers). Little has changed on the home front as well. Men account for just 4% of all stay at home parents. Why? Sandberg encouraged more discussion. She suggested that stereotypes are self-perpetuating, but knowledge can lead to change.

That is why Sandberg, along with Rachel Thomas, Debi Hemmeter and Gina Bianchini (MBA '01), founded leanin.org, an online community where women and men can go to educate and empower themselves, and support one another. Many of the educational materials available on leanin.org are produced in partnership with the Clayman Institute, and include videos from the Voices & Influence program which features GSB faculty, students, and alumnae.

Whether you want to join the conversation, or are just curious about what others have to say, check out leanin.org. And if you want to get a taste of some of the subjects that are taught at the GSB, watch these videos and learn about influence and power from Professor Deborah Gruenfeld, or discover the power of stories with Professor Jennifer Aaker.

There was one question Sandberg asked that I suspect many audience members are still thinking about: "What would you do if you weren't afraid?"

- Christine H.

Watch the complete video of Sheryl Sandberg's presentation.

Business in China is undergoing a transformation, and Stanford GSB alumni are at the forefront.

We just posted a new video that features agents of change in China. Watch them discuss the companies they are creating and leading, and how Stanford GSB helped them achieve their success.

Featured alumni include: Leo Chen, MBA 2009, founder and CEO of Jumei.com; Alan Du, MBA 2001, Vice President of Corporate Development of Renren; Victor Koo, MBA 1994, chairman and CEO of Youku Tudou Inc.; Wei Shu, MBA 2009, founder of Civo.im, and many others.

» Watch "Agents of Change: The Many Faces of Stanford GSB in China"

For the second year, Stanford is hosting Tedx--a day of innovative and dynamic speakers, videos, and interactive art. Although the event is sold out, you can sign up to watch the free, live webcast on Saturday, 11 May 2013. Speakers and performers from across Stanford will share their world-changing ideas. Among them are Shirzad Camine, MBA '88, Zipho Sikhakhane, MBA '14, and GSB faculty member JD Schramm.

This year's TEDxStanford will discuss everything from the psychology of compassion and student breakthroughs in energy design, to oceanic and African wildlife studies.