In the past month we had to bid for both the campus exchange and the p3 electives. Since this is unique I figured it is worth some explanations.
The system works like this: Each student gets 200 points. Each period the students bid points for the electives that they want to take next period. Since some of the electives are too popular, not all students can take them. So out of all the points that remained from previous periods, each student divide them between the courses they want to take (giving most points to the electives they want the most - strategy, strategy).
If a course is not full, no points are deducted. However, if the course is full each student that bid high get in. The number of points deducted for all the students is according to the last student to get in. For example: If there are 100 places, and the 100th student bid 20 points, all the 100 students are deducted 20 points (even if they bid higher). Sometimes though, INSEAD opens a new section if there is a high demand (not guaranteed).
The auction is done per campus. Most classes are given in both campuses. They provide us with all the information about the syllabuses, requirements, and faculty (including rankings of the professors in previous periods - a grade above 4 is considered good).
The 200 points are cummulative throughout the program. If a student is deducted 50 points in the P3 bidding, he will only have 150 points in P4.
In the first week of P3 the students are allowed to drop and add electives as they choose (if there are available places). If the class is full, dropping from a course will result in someone from the waitlist getting in (dropping the course gives you the bidding points back). There is also the possibility to audit a course (meaning to sit in class but not get credit) - if the professor allows it.
Why did INSEAD impose such a complicated system is beyond me, but these are the rules, and we must play accordingly, right?
The P3 Electives
There are 6 groups of electives in the program: Finance, Accounting, Strategy, Marketing, Technology & Operations, and Entrepreneurship. There are also electives in Organizational Behaviour (OB) and Economics.
Most electives are 1 credit, but there are also mini ones for half a credit (and only 8 sessions). In the program you can take 10.5-12.5 elective credits (and you must attend minimum of 2 credits in P5 - meaning that you have to be at INSEAD in that period). More then 12.5 you must pay extra.
There are tons of electives - mostly in P5 - and choosing is hard. In P3 it is recommended to take 3.5 credits. There are also 2 core courses.
Here is a list of some of the electives offered (not all of them):
Finance - If you want a finance career, it is recommended that you take all the finance courses. However, for the numbers-handicaped of us, it is recommended to take two basic courses: Applied Corporate Finance (the cases course, given both in P3 and P4), and Investements (mini, only in P3). International Financial Management is the third course offered.
Entrepreneurship - In P3 INSEAD offers Corporate Entrepreneurship in Fonty, and Business Models in Singapore (no symmetry). Also you can take a project in the industry (Entrepreneurshial Field Study).
Marketing - In P3 or P4 you should take Marketing Driving Strategies, which involves simulations and is supposed to be great.
Strategy - A popular course is given in P3, M&As, Alliances and Corporate Strategy (taught in Fonty by an Israeli professor).
Technology and Operations: The second course (after the core course) is Strategies for Product and Service Development. There are two mini course called Leveraging IT Opportunities and Trends - Part I/II which are given in P3 and P4 respectively (different courses not related).
One last course that I want to describe here is the Negotiations course which is supposed to be great in Singapore (and hopefully in Fontainebleau too).
Saturday, December 1, 2007
P2 Academic Overview
P2 was definitely busier than P1. You might have wondered where I disappeared in the past couple of weeks. But no worries - I am still here (tired but breathing), writing to you about all the stuff that you need to know about INSEAD, the greatest business school in the Fontainebleau area (and the world).
So what did we have in this period: More courses, less time, more team assignments, less time, more CV preparation, less time, more stress, well you get the picture...
We study 6 courses this period, but 5 of them are only 12 sessions (Foundation of Marketing is the only one with 16). All of the courses together give a much clearer view of the business world.
We do a lot of cases (some from Harvard, some from IMD, and some - yes - from INSEAD). So I got to intimately know various companies so far. Let me name the most well known: Coca Cola, Pepsico, Starbucks, Wal-Mart, Black&Decker, IKEA, IBM, Dell, Apple, Cirque de Soleil, Nintendo, easyJet, American Airlines, Zara, Marks&Spencer, Ralph-Lauren, and the list goes on and on.
We learnt how to analyze business problems with relation to cost measurements, allocation and control; marketing and branding; option pricing; process and bottleneck problems, to name a few.
INSEAD had a very big impact on strategy with the invention of "Blue Ocean Strategy", and you might want to read the book about it (with the same name). For this achievement the Strategy department here at INSEAD is very strong, and the course of Strategy is taught seperately from the Marketing course.
In the Processes and Operations course we had read the book "The Goal" by Dr. Eliyahu Goldratt (an Israeli!), which is written as an easy-reading and demonstrates the constraints theory very effectively. I recommend the book (you will probably have to read it anyhow if you study an MBA), and I enjoyed it very much (it didn't take long to read).
I must say that in most of the courses the level of teaching and the material is at a very high level, and the classes are taught in a interesting and inspiring ways. The professors make tremendous efforts to deliver the material in a fun and effective way (Some of the classes we laugh so hard that you might think it is a stand-up comedy show).
However, we have a large amounts of readings, and some of the professors use the cold-calling method. Especially in the Managerial Accounting course, in which we have a professor from HBS, who use the case method devoutly. The case method means in practice that for each class you must read a story about a company, and analyse several exhibits in order to answer several questions regarding an issue. Then the class is more of a discussion fascilitated by the professor. The method has proven itself in my eyes as effective, though very strict.
Once the period is over I will give a more thorough review of the different courses, so you will know in advance what to look for.
So what did we have in this period: More courses, less time, more team assignments, less time, more CV preparation, less time, more stress, well you get the picture...
We study 6 courses this period, but 5 of them are only 12 sessions (Foundation of Marketing is the only one with 16). All of the courses together give a much clearer view of the business world.
We do a lot of cases (some from Harvard, some from IMD, and some - yes - from INSEAD). So I got to intimately know various companies so far. Let me name the most well known: Coca Cola, Pepsico, Starbucks, Wal-Mart, Black&Decker, IKEA, IBM, Dell, Apple, Cirque de Soleil, Nintendo, easyJet, American Airlines, Zara, Marks&Spencer, Ralph-Lauren, and the list goes on and on.
We learnt how to analyze business problems with relation to cost measurements, allocation and control; marketing and branding; option pricing; process and bottleneck problems, to name a few.
INSEAD had a very big impact on strategy with the invention of "Blue Ocean Strategy", and you might want to read the book about it (with the same name). For this achievement the Strategy department here at INSEAD is very strong, and the course of Strategy is taught seperately from the Marketing course.
In the Processes and Operations course we had read the book "The Goal" by Dr. Eliyahu Goldratt (an Israeli!), which is written as an easy-reading and demonstrates the constraints theory very effectively. I recommend the book (you will probably have to read it anyhow if you study an MBA), and I enjoyed it very much (it didn't take long to read).
I must say that in most of the courses the level of teaching and the material is at a very high level, and the classes are taught in a interesting and inspiring ways. The professors make tremendous efforts to deliver the material in a fun and effective way (Some of the classes we laugh so hard that you might think it is a stand-up comedy show).
However, we have a large amounts of readings, and some of the professors use the cold-calling method. Especially in the Managerial Accounting course, in which we have a professor from HBS, who use the case method devoutly. The case method means in practice that for each class you must read a story about a company, and analyse several exhibits in order to answer several questions regarding an issue. Then the class is more of a discussion fascilitated by the professor. The method has proven itself in my eyes as effective, though very strict.
Once the period is over I will give a more thorough review of the different courses, so you will know in advance what to look for.
Saturday, November 3, 2007
A Trip to Loire Valley
On P1/P2 break I went on a two days trip to Loire Valley with my partner Inna. Loire Valley is an area in France located on both sides of the Loire river, and is rich with Castles, Chateaus and interesting cities. The capital is Orlean, a city located 1 and a half hour drive from Fontainebleau. Unfortunately there is not much to see there, and another hour drive brought us to Chambord, the biggest
castle in the area. It is truely magnificant, and the rich architecture of the roofs and terraces is impressive. There is a very interesting stare case with two parrallel starecases allowing two persons to go up without meeting. Leonardo De Vinci was involved in the engineering of the castle.
castle in the area. It is truely magnificant, and the rich architecture of the roofs and terraces is impressive. There is a very interesting stare case with two parrallel starecases allowing two persons to go up without meeting. Leonardo De Vinci was involved in the engineering of the castle.
From there we went to Chambray castle (20 minutes drive), not very exciting.
Then we went to Blois (pernounces- blua), a city of medivial ages, a very 
impressive view from the other side of the Loire. A line of gray roofs, with several large castles and cathedrals, 
very dense on the mountain side. The Chateau is from 4 different architecture styles - Reinnesance, Gothic, and others. We walked on stairs that looks a lot like Piaza Espania in Rome, and in the couple of streets full of stores and pasteries.
impressive view from the other side of the Loire. A line of gray roofs, with several large castles and cathedrals, 
very dense on the mountain side. The Chateau is from 4 different architecture styles - Reinnesance, Gothic, and others. We walked on stairs that looks a lot like Piaza Espania in Rome, and in the couple of streets full of stores and pasteries.
The next stop was Embois, another small town, with a medivial style Chateau, near the Leonardo De Vinci museum. Again it was nice to walk for half an hour in the European Village style streets of this town. The last stop of the day, and where we spent the night, is Tours, a large city located 3 and a half hours drive from Fontainebleau. They have a Gothis cathedral in the center of town (a small version of Notre-Dam in Paris?). It was a perfect location for next days' trip.
The next day we started with Azay Le Rideau Chateau, 20 minutes further from Tours. This Chateau is a small but impressive one, located on an artificial small lake, giving a reflection in the water. There is a small garden. Very nice. We came at 11:45 so only the gardens were open for a discounted price. It was sunday and there was a flee market out side the Chateau.
Next we started going back, visiting Villandry gardens. These are probably the largest and richest gardens in the Loire. Different shapes and colors, walking around different vegetables and fruits and a big artificial lakes and tunnels. You can walk up to the forest for a view of the entire area.We ended the trip by visiting Chenonceaux castle. This is the most touristic attraction, and you can tell from the moment you enter the place. This chateau 
is the most impressive from the inside (although surprisingly small). It is located literally on the river, with several arcs holding it like a bridge. Pitty that the line of water is low. The gardens are nothing like Villandry but worth a visit. They have an old farm and a winary (the whole Loire is filled with winaries).
is the most impressive from the inside (although surprisingly small). It is located literally on the river, with several arcs holding it like a bridge. Pitty that the line of water is low. The gardens are nothing like Villandry but worth a visit. They have an old farm and a winary (the whole Loire is filled with winaries).A little tip about the cost: Each chateau cost 7 to 10 euros per persons, sometimes there are discounts for students, or for persons below 25 years of age. Fuel (diesel) cost around 40 euros. And the hotel cost 35-100 Euros per night (search the web). You might want to sleep in Embois or Blois instead of Tours, or look for a small place on the way.
And a word about the roads in France: The highways cost money (probably 30-40 euros for the entire trip). Otherwise, N152 (I think) takes you all the way to Tours. It's partly yellow and partly red, but most of the ride is in one lane, and you can get stuck behind a slow car for half an hour. But the road is pretty, so there is an upside. Once you get near a chateau there are good way signs.
Friday, November 2, 2007
What Has Changed in the MBA World
Financial Times has posted the annual MBA ranking. Being the most international ranking there is, I used this ranking a lot when deciding which program to attend.
http://rankings.ft.com/global-mba-rankings
Global Perspective
Top 10 USA schools according to this ranking (place last year in the brackets)
1. Wharton (1)
2. Columbia (4) - surprised here?
3. Stanford (3)
3. Harvard (2)
6. Chicago GSB (6)
8. NYU Stern (7)
9. Tuck (8)
10. Yale (11)
14. MIT Sloan (10)
17. UCLA Anderson (19)
Top 10 European Schools
5. LBS, UK (5)
7. INSEAD, France/Singapore (8)
11. IE Business School, Spain (-)
13. IMD, Switzerland (14)
15. Cambridge Judge, UK (35)
16. IESE, Spain (13)
18. HEC Paris, France (22)
19. Oxford Said, UK (20)
22. Manchester Business School, UK (22)
24. Esade, Spain
An up trend for European school. Also important is Ceibs from China #11 this year.
Personal Perspective
INSEAD is ranked 7th in the world, up from #8 last year. MIT Sloan - the other business school I was admitted to is down - #14 this year, a fall from #10 last year. Did I do the right decision here? It seems so.
My third business school was Oxford - up 1 place in #19 in the world. Cambridge (the strong competition) is #15.
I was on the waitlist of London Business School, still at #5 and the best European school according to this ranking. But it is not that clear that it is a better choice than INSEAD as I will show next.
INSEAD - A Further Look
Ok, so INSEAD is up to #7. What other things can we tell from this ranking?
Employment
Weighted Salary for INSEAD students is 140K$. 2nd in Europe - IMD is first with 153K$. LBS only third with 135K$. Oxford is not legging behind with 128K$.
Top salaries are for graduates from Stanford (168K$), Cape Town (What? 163K$), Wharton (160K$), and HBS (157K$).
Salary Increase - For LBS it's 122%, INSEAD only 94% (poor us).
You wanna get an increase? Go to Ceibs (159%), Yale (151%), or IE (149%).
Will you get a job after the MBA? According to FT you have a chance of 90% if you graduate from INSEAD - pretty low comparing to all the others. LBS is 96%.
School
INSEAD is the #6 international school. LBS is only 10. The other top 10 schools are no where to be seen. Do you want an international perspective? Come to INSEAD.
Value for money - INSEAD is the 2nd school among the Top 20 schools, only IMD is above. Oxford not too far behind. LBS is one of the most expensive schools and the worst in the world in that category. Being a one year program pays off.
Reputation - Alumni were asked to rate the schools based on whether they will recruit MBAs from that school. LBS is #5 and INSEAD #6. This is a pretty important category so here is the top 10:
1. Wharton
2. HBS
3. Stanford
4. Kellogg
5. LBS
6. INSEAD
7. Chicago GSB
8. Columbia
9. MIT Sloan
10. Ross
Next 10: NYU, Tuck, Duke, Darden, UCLA, Berkeley, IMD, Toronto, Iese, Kenan-Flagler.
Is this the true ranking? From inspecting the results it might as well be. The American schools are sorted pretty much as I would expect, and also the European schools. Less surprising than the real FT ranking.
Summary
It seems that INSEAD is a top 10 school again this year in all categories, an excellent value for money, with great employment future and an international exposure.
Last, I did my own ranking based on the criteria I find most important (I know that's weird but it made sense to me): Alumni recommendation-reputation (30%), salary(30%), chance of employment(10%), international(10%) and value(20%).
Here are the results:
1. INSEAD
2. IMD
3. MIT Sloan
4. Wharton
5. Kellogg
6. LBS
7. Cranfield (Uk)
8. HBS
9. Stanford
10. Tuck
11. Oxford
12. UCLA
13. Capetown (South Africa)
14. Chicago GSB
15. Ceibs (China)
16. Columbia
17. IE (Spain)
18. Erasmus (Netherland)
19. Iese
20. North Carolina
Told you that INSEAD is number 1 :) .
(I swear that I did not arrange it so INSEAD would be #1. I just picked the most important criteria and put it in Excel. Amazingly INSEAD is the best pick.)
http://rankings.ft.com/global-mba-rankings
Global Perspective
Top 10 USA schools according to this ranking (place last year in the brackets)
1. Wharton (1)
2. Columbia (4) - surprised here?
3. Stanford (3)
3. Harvard (2)
6. Chicago GSB (6)
8. NYU Stern (7)
9. Tuck (8)
10. Yale (11)
14. MIT Sloan (10)
17. UCLA Anderson (19)
Top 10 European Schools
5. LBS, UK (5)
7. INSEAD, France/Singapore (8)
11. IE Business School, Spain (-)
13. IMD, Switzerland (14)
15. Cambridge Judge, UK (35)
16. IESE, Spain (13)
18. HEC Paris, France (22)
19. Oxford Said, UK (20)
22. Manchester Business School, UK (22)
24. Esade, Spain
An up trend for European school. Also important is Ceibs from China #11 this year.
Personal Perspective
INSEAD is ranked 7th in the world, up from #8 last year. MIT Sloan - the other business school I was admitted to is down - #14 this year, a fall from #10 last year. Did I do the right decision here? It seems so.
My third business school was Oxford - up 1 place in #19 in the world. Cambridge (the strong competition) is #15.
I was on the waitlist of London Business School, still at #5 and the best European school according to this ranking. But it is not that clear that it is a better choice than INSEAD as I will show next.
INSEAD - A Further Look
Ok, so INSEAD is up to #7. What other things can we tell from this ranking?
Employment
Weighted Salary for INSEAD students is 140K$. 2nd in Europe - IMD is first with 153K$. LBS only third with 135K$. Oxford is not legging behind with 128K$.
Top salaries are for graduates from Stanford (168K$), Cape Town (What? 163K$), Wharton (160K$), and HBS (157K$).
Salary Increase - For LBS it's 122%, INSEAD only 94% (poor us).
You wanna get an increase? Go to Ceibs (159%), Yale (151%), or IE (149%).
Will you get a job after the MBA? According to FT you have a chance of 90% if you graduate from INSEAD - pretty low comparing to all the others. LBS is 96%.
School
INSEAD is the #6 international school. LBS is only 10. The other top 10 schools are no where to be seen. Do you want an international perspective? Come to INSEAD.
Value for money - INSEAD is the 2nd school among the Top 20 schools, only IMD is above. Oxford not too far behind. LBS is one of the most expensive schools and the worst in the world in that category. Being a one year program pays off.
Reputation - Alumni were asked to rate the schools based on whether they will recruit MBAs from that school. LBS is #5 and INSEAD #6. This is a pretty important category so here is the top 10:
1. Wharton
2. HBS
3. Stanford
4. Kellogg
5. LBS
6. INSEAD
7. Chicago GSB
8. Columbia
9. MIT Sloan
10. Ross
Next 10: NYU, Tuck, Duke, Darden, UCLA, Berkeley, IMD, Toronto, Iese, Kenan-Flagler.
Is this the true ranking? From inspecting the results it might as well be. The American schools are sorted pretty much as I would expect, and also the European schools. Less surprising than the real FT ranking.
Summary
It seems that INSEAD is a top 10 school again this year in all categories, an excellent value for money, with great employment future and an international exposure.
Last, I did my own ranking based on the criteria I find most important (I know that's weird but it made sense to me): Alumni recommendation-reputation (30%), salary(30%), chance of employment(10%), international(10%) and value(20%).
Here are the results:
1. INSEAD
2. IMD
3. MIT Sloan
4. Wharton
5. Kellogg
6. LBS
7. Cranfield (Uk)
8. HBS
9. Stanford
10. Tuck
11. Oxford
12. UCLA
13. Capetown (South Africa)
14. Chicago GSB
15. Ceibs (China)
16. Columbia
17. IE (Spain)
18. Erasmus (Netherland)
19. Iese
20. North Carolina
Told you that INSEAD is number 1 :) .
(I swear that I did not arrange it so INSEAD would be #1. I just picked the most important criteria and put it in Excel. Amazingly INSEAD is the best pick.)
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