The Written Exams

Last week I sat three exams for this semester’s modules: Marketing, Operations Management and Modelling & Analysis for Management. Unfortunately I didn’t get a good start to the week as I had been ill the week before, so missed the opportunity to finish my revision plan, and then had to sit the Marketing exam on Monday despite not having fully recovered. However, I was able to complete all three exams, and will find out in a few months how I performed.

In the Marketing exam we had to choose three out of eight questions, with the expectation that each would take around 1 hour to complete. Some of the questions were focused on one specific lesson from the module, whereas others were broader and covered multiple lessons. One of the challenges I found in this exam (and here’s a tip for those sitting it next year) was remembering the key ‘lists’ for each topic. I felt able to write about most of the topics in the course (although to a different standard for each), but for some questions I was unable to recall the specific lists/stages. For example, a question might ask about the application of each of the stages of the new product development cycle, and if I could only remember 6 out of the 9 stages then I would be limiting myself to just two-thirds of the overall marks. Luckily I was able to recall a sufficient number of ‘lists’, but missed the opportunity to choose some of the questions because I could not remember all the specific stages.

The second exam of the week was on Thursday, for Operations Management. The format of this was slightly different to Marketing, with a compulsory question followed by three questions to choose out of six, each of which should take 45 minutes to write. The first question was relatively straightforward to answer because the style of question was similar to that practiced previously (tip for those taking this module this next year – if the format is the same, make sure you complete the second TMA, it will really help prepare you for the exam). The remaining questions covered a number of different topic areas, and like the Marketing exam one of the challenges was being able to recall the main lists for each concept, to allow you to fully respond to the individual questions.

The final exam was on Friday, for the module Modelling and Analysis for Management. Unlike the first two exams, this was open book; however, the recommendation from tutors that “there will not be sufficient time in the exam to read the books to find an answer” was true – time was very limited in this exam. The first of the two sections in the exam was supposed to last 2 hours, with 10 compulsory questions that focussed on a specific topic from the course. Some of these required us to use the mathematical concepts to describe a situation, whereas others were a interpretative question and needed a descriptive answer, often related to the mathematical output from the previous question. The second of the two sections lasted an hour, and had three essay-style questions that discussed a case study that we had been provided with earlier in the semester.

Overall, I feel like I gave the examinations a reasonable attempt, and although I found them difficult, I wouldn’t expect them to be easy given that this is a masters degree! It would be great to hear from other students though – how do you feel you got on?

In my last post I talked about some ideas for preparing for exams, and so I thought it might be useful to provide an updated view now that they are over:

• Writing with a pen – Although this wasn’t easy, I am relieved to say that it wasn’t a major problem during the exam. I’m still glad I did a small amount of practicing beforehand (in the form of TMAs), but its not something that impeded my ability to answer all the questions.
• Structuring the answer – I attempted to plan my answers for the first question of the Marketing and Operations Management exams, but found that time passed quickly and I did not get the opportunity to apply a real structure to most of the questions. However, I was able to include most of the desired content, so hopefully any marks lost due to poor structure will be made up for by the content itself.
• Writing first time – Given the time constraints, there wasn’t much time to be concerned about what order to write the content in, and I usually just wrote based on the structure indicated by the question (eg. “describe how the four techniques…” would lead me to write four paragraphs direct from memory).
• Introduction and conclusion – My ability to include these depended on the time available; for the first question I included both sections, the second/third questions I only wrote a single concluding line, and then missed both out for the fourth question due to time constraints. However, I’m hoping that the conclusions I did write will have provided a nice close to the question that helps the assessor understand the key points of my answer.
• Real-Life examples – I had pre-prepared a few examples but found that most of the examples I used actually related to past experiences, or an example in the context of the original question. It was still worthwhile preparing the examples though, as these helped me understand where and how the different concepts had been applied in the past.
• Time flies – Time was a challenge in all three examinations, and in some cases I had to leave an answer with a few outstanding points to make, just to avoid using up time from the next question. However, I was able to complete all the questions in every exam, so hopefully I will have a good chance of getting a reasonable grade.

I think that’s it for exams now, as the remaining modules I have chosen are all assessed by assignment. It was an interesting experience though, and I hope my comments have been useful for those of you taking exams in June.

Warwick Week 2

Just over a week ago I attended the second Warwick Week for my cohort. The format was similar to earlier this year at Warwick Week 1, but this time the event was only three days long as we didn’t need the introductory day, and the leadership day only takes place once each year.

I’d like to start by saying hello to everyone I met during the week who reads my blog – thank you for introducing yourself, it was good to meet you all, and please feel free to add your thoughts on Warwick Week in the comments area below.

Networking Event

The first activity was a networking event on Wednesday evening, Navigating Cultural Awareness. The timing of this was such that it overlaps with the Warwick Week for three cohorts, which meant we were able to meet students in their second year, along with those who were only 3 months in, and some of the WBS MBA alumni. I was unable to attend this event in March, so it was nice to be able to join this time and meet a number of people from all three cohorts. There were a good variety of attendees; I met people from a number of different professions, industries and countries, gathered some useful feedback on elective choices for next year, and was also able to offer some tips and advice to those who were just three months into their MBA.

Day 1 – Modelling and Analysis for Management

The first full day of Warwick Week 2 focused on the mathematical module of the semester, Modelling and Analysis for Management (MAM). The format of this day was a mix of lectures, group work and follow-up discussions in seminar groups of 40-50 people. The first few lectures were mainly a repeat of the content covered in video lectures from earlier in the course, covering normal distributions, sampling and regression analysis, and provided a refresher on those topics. These were followed by group exercises that required us to review a case study and answer questions that would be applicable in a real-life business scenario, showing us how we might want to use the MAM techniques in practice. We then convened in the seminar groups for a walk-through of the answers, demonstrating the actual approach that should be used, and allowing us to query any areas of uncertainty.

The final lecture for MAM introduced us to the concept of forecasting, and some of the limitations and pitfalls associated with the different techniques. As this was only an introduction it just outlined the basics, but I’m looking forward to covering this lesson in more detail during lesson 5. Following this there was an open discussion around how to approach the exam, which allowed us to ask questions about the exam format, and how best to be successful here.

After the MAM lectures we had two presentations from the WBS Alumni and PCD (Personal & Career Development) teams. The latter included a presentation from Taylor Houghton on a 360° assessment tool that we have access to as part of the MBA – I am really looking forward to using this later this year to get feedback from my peers.

Day 2 – Operations Management

The next module we covered was Operations Management. The format was quite different from previous Warwick Week days, as we were entirely in study groups or seminar groups of 40-50 for almost all the day. Personally I preferred this format as it allowed much more interaction with our peers and the lecturers. The latter also changed between groups for each of the sessions – this worked really well, giving us exposure to different learning styles, and helping us to stay engaged for most of the day.

Over the course of the day we covered a number of different topics, including Operations Strategy, Service Process Design, Supply Chain Management and New Product/Service Design. Each topic used a case study as a base for discussion, including the change in process design in an A&E department, the way suppliers are managed by various companies (it was interesting to hear views on General Motors and Toyota as I work with customers in the automotive industry), and the optimisation of process flow in a not-for-profit organisation. The sessions finished with a lecture that followed the programme ‘Designs on your…’ with Richard Seymour and Dick Powell, and how they worked with Shires to develop a new design for the toilet – this certainly gave us a rather fun end to the day!

Following the group sessions we had a lecture with the entire cohort to discuss the exam. An interested comment made during this session was that we are expected to take a selection of examples into the exam to refer to in our answers, however, the exam is closed-book so we need to recall these from memory. This is different to previous questions where we are provided the case study in written form, so I expect the next few months will need me to collect lots of examples, and include them in my revision schedule.

Day 3 – Marketing

The final day of this Warwick Week was allocated to the Marketing Module. The agenda initially looked very repetitive, with lectures all day except for one group exercise. However, the lectures were generally very engaging, with lecturers who were enthusiastic, funny, and ensured student participation either by direct interaction with the audience, or posing questions to get us to think how concepts would be applied. One very interesting exercise was when we were asked what word we would use to describe specific brands, including Sony, Land Rover, Walmart, Asda, and a number of others. I think many of us were surprised by the words used to describe some of the brands, and there was a wide a variety of answers offered which you would expect given the diversity of students in the room. However, it did demonstrate the impact that brand image has on buyer behaviour – although I don’t think some of their marketing departments would be pleased with words such as ‘old’ and ‘evil’!

At the break we were treated to a ‘tasting session’ – over the previous few weeks there had been a discussion on my.wbs about the marketing of Philadelphia’s Chocolate-flavoured cream cheese, so one of the tutors organised a tasting experiment. The results were generally in favour of the product, although there was quite a strong polarisation of results (some loved it, others hated it). Have you tried it?

The group exercise for Marketing looked at the transformation of the Burberry brand when Rose Marie Bravo took over as Chief Executive. This led to lots of discussion about the positioning of the Burberry brand, although it was sometimes difficult to distinguish between the positioning of the brand in 2003 (when the case study was written) and our view of the brand since then. It was a good example to use though, as it highlights some of the challenges that can be found with brand positioning.

As with other days, the last lecture of the day (and week) was used to discuss the exam. One of the interesting points from this lecture was a suggestion on how to approach an essay-style question in an exam environment (as opposed to in an assignment that can be completed over a number of weeks). I expect this technique will be useful not only in Marketing, but also the other two modules that are assessed by examination.

Other Activities

Here are some of the other meetings/activities I participated in at this Warwick Week:

• Electives Surgery – Prior to Warwick Week I signed up to an electives surgery to discuss my forthcoming electives choices. I’ll cover this process in a future blog post, but as the decision has to be made over the next month I thought it would be a good opportunity to run through some queries in advance. The advisor I met with provided some useful feedback, and we had a good discussion about my reasons for pursuing an MBA – I was very pleased as she helped address some of the concerns I had around some of the modules that really interest me. I now need to work through the choice of 40+ electives to select the 6 I wish to sign up for.
• Learning Resources Focus Group – Over lunch on Thursday I joined a focus group with the Learning Resources team at Warwick Business School. The purpose of this meeting was to get a view from students at various stages of the course on the learning materials, study groups and tutor engagement model. I provided feedback in a number of areas, including the my.wbs eLearning site and my view on the different media used (text, images, videos, live sessions, etc). We also discussed the different ways to engage students during the virtual live sessions, where I was able to share a number of ideas from work given that most of my internal meetings and training are held virtually.
• Course Dinner – As with Warwick Week 1, there was a course dinner which was open to students from both Warwick Week 2 and Warwick Week 3 (Year 2). This was another good networking opportunity, and it was a pleasure to spend some time chatting with a few of my blog readers.

That’s the second Warwick Week finished now; the next one will be in a year’s time. This will be a shame as I find these weeks a good way to reset the study plan, meet others on the course, and discuss some of the concepts we have been taught. However, next year I will be joining at least one face-to-face module run over a 5-day period, which I am really looking forward to as this will be a great opportunity to spend some more concentrated time with other students, and discuss in-depth some of the MBA topics.

Time now to return to my studies, and catch up slightly after taking a week away with family for a mid-semester break. My next post will probably be in a few weeks time, with an update on the elective selection process.

London 2012 Olympics – an MBA student’s view

Regular readers of my blog will have noticed that it has been a few weeks since my last post; like many in the UK I was distracted by the Olympics for a couple of weeks (not necessarily a good thing when studying for an MBA though!). So I thought it would be interesting to write a post about the Olympics, both from a personal viewpoint, and also that of an MBA student.

For two weeks the UK had “Olympic-fever” – it dominated the media both in terms of news coverage, and the 24 channels set up by the BBC to showcase the events. It all started with the opening ceremony, which as you would expect both had its supporters and its critics; personally I thought it was a great event that gave some interesting insight into our country to the rest of the world. We then moved to the highlight of the Games, the athletes and sports. It has been wonderful to see the intense competition following many years of dedicated training, and the look of pride on the faces of the medal winners. It has also made me very proud to live in the county of Yorkshire, as this is where a number of high-profile winners are from (such as Jessica Ennis); apparently Yorkshire would be 13th in the medal table if it were a separate country! However, looking at the results another way, Great Britain would drop to 10th in the medal table, if you factored in the size of the population – I expect this concept of viewing statistics in a different way will probably form part of the Modelling and Analysis for Management module later this semester.

The Economics of the Olympics

The economic benefit of the Olympics to the UK has been widely debated over the last few years – especially given the cost is expected to be around £9bn. One factor that will have a big impact on the return to the UK economy is where the £9bn is actually spent; if this is invested in UK products and services then this should have an overall positive impact on the UK economy given the multiplier effect, but if it is spent importing goods and services then the return will be far lower.

One likely benefit to the UK economy is through increased tourism from abroad (exogenous demand). Initially this will be mainly distributed towards the Olympic region in the South of England, although more traditional tourism venues such as theatres and museums have suffered a slowdown of business which could offset some of these gains. Moving forward, there will hopefully be an increased level of tourism on a continued basis as London has been showcased to the world during the Games, although the real benefit of this to the UK economy remains to be seen.

There is lots more to consider here, but as this isn’t an assessed assignment as I will leave it at that, and look forward to following the media coverage as we reflect on the economic legacy of the Games over the next few years.

Marketing the Olympics

The Olympics probably involved one of the biggest marketing initiatives ever seen in the UK. One of the main needs that had to be addressed was the need for participation, and so significant efforts were made to allow everyone to be involved in some way, either as one of the 70,000 volunteers, 8,000 torchbearers, watching the torch relay, or watching the ceremonies and sports in-person, on TV, or online.

A few interesting observations I had about the marketing of the games are:

• The use of social media heavily featured throughout the games, with a particular focus on Twitter (they were often referred to as the Twitter Games – read here to see how Twitter led to arrests, account suspensions and athletes being sent home). I particularly liked how accounts were set up for the Twitter Cameras – cameras with personalities that shared photos via Twitter.
• Tickets were made available for the games and intended to be as inclusive as possible by having a random draw with many different price points. Although a good approach to ensure fairness to the millions of people who wanted to attend, this proved frustrating when there were empty seats at the start of the games. There is an interesting article in the Economist that discusses an alternative approach to this challenge.
• Sponsorship forms a key part of the Olympics, with some very clear winners such as Adidas. An interesting approach was taken by British Airways, the official airline partner of the London 2012 Olympics, which was encouraging people to ‘Don’t Fly‘. However, it was not all positive, with issues relating to Visa being the only permitted payment card for the games, and McDonalds and Coca Cola criticised based on the healthy image associated with the Games. Sponsorship is a great opportunity to market to a global audience, but potential consequences obviously need to be managed very carefully.

Running the Olympics operation

The Olympics is probably one of the most complex operations to develop and run – see one perspective of Operations Management’s ‘Four V’s’ below:

• Volume – 200+ countries, 14,700 athletes, 70,000 volunteers, 10.8m tickets, and almost 1 billion viewers worldwide. Could it get any bigger?
• Variety – From 10 second races to multiple events spread over many days, tennis courts to the ocean off the coast of Dorset, and of course the British weather (which could potentially be the definition of variety!)
• Variability – Probably the only factor that is consistent, the variability could be defined as ‘maximum utilisation’ – with the exception of the empty seats mentioned earlier.
• Visibility – The whole world is watching every activity, and with increased media and social networking coverage, any operational challenges will be immediately visible.

The Operations Management process (shown on the right) has four key phases. Whereas most organisations follow the cycle on an ongoing basis, the Olympics will probably be quite different (although I have not performed any research into this, so may be wrong!). It appears that there will be a 7 year design stage, then 4-6 weeks focussing on delivery, with very limited opportunity to develop and re-design the operations processes. However, there have been a number of high-profile challenges that became apparent just prior to or during the delivery phase, such as the G4S staffing issues, and empty seats. Both of these required LOCOG to very quickly develop and redesign their processes to adjust the ‘deliver’ stage – no easy feat when the whole world is watching. I’ve not seen enough of the details on how well they did (I was more interested in watching the events!), but expect this would be a great operation to analyse when it’s over.

Knowledge Sharing

To support this analysis and future learning, the Olympic Games Knowledge Management (OGKM) programme was set up at the Sydney Olympic Games in 2000. Designed to share best practices and lessons learned between the different Olympic host cities, this is a great example of the how organisations can learn from each other, although there is a good article from the Harvard Business Review that discusses some of the challenges of this approach.

 

That’s the end of a rather long post, but hopefully you found it interesting. Moving back to my MBA studies, I am now working on completing lessons 1-4 of the three modules before Warwick Week 2, which takes place from 6 – 8 September. In addition, we have also recently received our grades for the Accounting and Financial Management and Economics of the Business Environment modules, both of which I am very pleased with; this has motivated me even more to try and maintain these grades with the second semester modules. Better get back to those textbooks…