The Full-time UST MBA class of 2014 embarked on more than 30 different internships this past month, many of which were outside Minnesota’s borders. As the days continue to fly by, Graduate Business Career Services would like share a few internship tips before the green leaves of summer change to autumnal shades of fall.
Hopefully you are enjoying your summer internship experience. By now, you know what you are expected to do and when it needs to be done. And, you are doing a great job, exceeding expectations.
But wait, there’s more to the internship than doing it well. Here are some suggestions to ensure you make this a great summer internship experience.
If you haven’t done this already, do it now:
Image from “MBA for Better Future”
Graduate Management News, from GMAC, the creators of the GMAT recently had a post about how they work to reduce bias on the exam. Often, for international and also minority students, hidden biases can really add an additional layer of challenge to an already difficult test.
Check out a few of the things the GMAT creators take into consideration regarding bias…these are things they attempt to eliminate from the exam:
Use vocabulary, idioms, and constructions that are not universal. My favorite example is skimmed milk. You might expect all educated individuals applying to a graduate level English language program would know skimmed milk. But in India, toned milk and double toned milk are common, and skimmed milk is rare. Vacation and holiday, and quite and very, are other examples. Also under this category are the use of double negatives (The GMAT is not unfair), contractions (should’ve), abbreviations (for example, e.g.), imperatives, possessives, and some sentence structures (Do you have a pencil? Have you a pencil?).
Christopher Michaelson, Ph.D., assistant professor of ethics and business law here at the University of St. Thomas Opus College of Business published an article about the World Economic Forum in Davos on the Huffington Post Tuesday.
As world leaders prepared for the World Economic Forum‘s annual fête in Davos, Switzerland in January, the event continued to embody what is arguably the most pressing irony of capitalism today. The problem of too much — over-consumption, excessive rewards for an elite few — flaunts alongside the problem of too little — resource scarcity and extreme poverty for a less fortunate many. As politically and economically motivated uprisings sprouted around the world this past year, these problems also coexisted at Davos, one seeking to help solve the other while at the same time being blamed for being its primary cause.
I am on the road this week, recruiting students for the Full-time UST MBA program in Dubai and Abu Dhabi. This is a relatively new market for us to explore, but with all of the growth here in the last decade there is increasing demand for business leaders.
I am doing my best to learn about the economic marketplace here in the Middle East, just as each of the students I have met at our fairs are trying to understand the value of business education in Minnesota. Compared to most Americans’ stereotypical view of this region, these two cities are highly modern and “westernized.”
Tourism is a major industry, contributing more than 16% of the United Arab Emirates GDP, and employing 13% of the labor force, according to Middle East Executive magazine. According to the MasterCard index survey, Dubai is #9 in “global arrivals” this year, and hotel occupancy rates are averaging near 80%. You’ve probably seen pictures of some of the amazing hotels here in Dubai and the man-made palm islands where new resorts are springing up. The magazine notes there are 52,800 hotel rooms in Dubai with another 10,000 expected in the next year or two (there are about 67,000 rooms in Las Vegas, for comparison, and somewhere around 7,000 or 8,000 in Minneapolis).
What are all the visitors coming for? Mostly relaxation and fun in the sun, it seems. The are lots of water parks and beaches. The emirates are working to create other draws too, like the recent Abu Dhabi F1 Grand Prix and this week’s Dubai International Film Festival (I hear Tom Cruise is in town this week for the premiere of the new Mission Impossible movie…I’ll be on the lookout for him).
“There is a real insistence [at UST] that all theories and ideas be translated into meaningful applications, and I think this reflects our distinct competitive advantage as a business school.”
– Peter Young
If you have ever been so excited for school to start year after year that you believe September 1 should be New Year’s Day, you are not alone. Dr. Peter Young holds that belief too, and it’s possible he came to that conclusion due to a genetic pre-disposition.
Dr. Young comes from a family of teachers. His parents both taught at a state college in South Dakota, and all of his siblings have become teachers or professors. With a Ph.D. in risk management from the University of Minnesota, Dr. Young has historically focused his research on public risk issues, but for the past several years he has transitioned his work to pursuing a better understanding of risk leadership in both the public and private sectors. Specifically, what is top management’s role in establishing risk policy and how do they ensure their strategic approach is effectively implemented? (For a list of his publications, please visit his profile.)
I’m in Asia this week, representing the UST MBA at The MBA Tour Roundtable workshops, events that enable MBA admissions representatives to meet with small groups of 6 to 10 prospective students. Unlike a typical “trade show” style MBA fair, where students go from table to table to pick up brochures, the roundtable format enables students to have in-depth discussions with each participating school. This benefits both the school and the student, as school representatives can fully explain program offerings, while students have the opportunity to ask questions and find out which schools might be a good fit for their interests.
At my first stop in Shanghai on Friday, I took a look at the Shanghai Daily newspaper left at my hotel room door in the morning. The front page headline announced, “Chinese companies set Fortune 500 list record.” China now accounts for 69 of the top 500 global companies by revenue, second only to the US with 133 and just ahead of Japan, which has 68. The article notes that the US set a record with 197 companies in the top 500 in 2002, but that the number of American companies has dropped each year since then.
While many UST MBA alumni call the Twin Cities home, our graduates can be found in all corners of the globe. Cindy Threlkeld, an Evening UST MBA alumna, has seen her career take her to more parts of the world than most people visit over the course of a lifetime.
A native of Iowa, Cindy pursued her undergraduate degree in Colorado before completing graduate degrees in Florida and then at UST. Shortly after completing her MBA with a focus on nonprofit management, Cindy traveled to Botswana for her first of several overseas experiences with the Peace Corps. Over the next 25 years, Cindy worked for the Peace Corps in Zambia, Guatemala, and Costa Rica. She also worked for non-profits in Ecuador and the Philippines.
photo credit: John Coutlakis, Asheville Citizen-Times
After many years living overseas, Cindy’s career has brought her back to the United States, this time to North Carolina. The Asheville Citizen-Times recently profiled Cindy, and she discussed her long and varied career. Her experiences have prepared her for her latest challenge as Executive Director of MANNA Food Bank, which serves tens of thousands of needy residents in western North Carolina.
Although many MBA graduates meticulously plan their career progression, Cindy takes a different point of view. As she stated in her interview with the Citizen-Times, “When you have an opportunity that presents itself — I do believe in synchronicity — and there is no reason not to do it, you feel something pulling you in that direction, go for it.”
UST MBA flag bearers at Commencement.
June 14. What’s the significance of this day? For me, it’s my mother’s birthday. Aside from celebrating my mother’s birthday, every year on June 14, Americans celebrate Flag Day. Flag Day commemorates the adoption of the United States Flag, which happened by resolution on the Second Continental Congress in 1777.
What will the Full-time UST MBA program be doing to celebrate such a significant day? Well, we’ll be ordering five new flags. You see, every year our Full-time MBA Student Commons is filled with flags representing the diversity from our International student population. Flags from Brazil, Germany, the Ivory Coast and Uzbekistan have adorned our walls. In fact we currently have 26 different countries represented. This year, we will be adding, France, Ireland, Nepal, Thailand and Vietnam to the mix.
Trevor Mulvey on Lantau Island
For some MBA students, the January term (J-term) is a time to relax, catch up on projects around the house, and enjoy a break from textbooks and exams. However, more than two dozen Full-time and Evening UST MBA students chose to participate in the FINC 752: Global Financial Services seminar that took place in Hong Kong and Shenzhen, China.
Led by Dr. Michael Sullivan, Associate Professor of Finance, the purpose of the class is “to provide MBA students with an opportunity to better understand the global financial services industry and to gain an exposure to non-US points of view.” Through site visits to the Hong Kong stock exchange and various financial services firms, students gained a better understanding of the financial opportunites and challenges presented by the world’s largest and fastest-growing market.