Keith Ferrazzi – “Business is Human Relationships power Growth”
Keith Ferrazzi – “Business is Human Relationships power Growth”
Evan Garmaise describes himself as a bit of a gearhead and a numbers guy who’s interested in management. He says it was hard to find a role that combines his talents, despite his computer science degree and MBA. So the 32-year-old analyst was excited to spot an ad for a program that provides training in both management and data analytics.
He’s not the only one. Analytics is a hot topic, thanks in part to the rise of big data. That’s the term used to describe the quantity and variety of data companies can now mine – everything from sales transaction data, to data from social networks, to information from equipment sensors. Companies inundated with big data are clamouring for ways to make use of it, but to do so, they need to understand the data first.
The trouble is, to mine data successfully, you need people who understand numbers and business. Neither skill set on its own fits the bill. There has been a dearth of Canadian masters-level programs that provide both perspectives, until now.
Last year, York University’s Schulich School of Business introduced a master of science in business analytics program. This year, Queen’s University in Kingston followed suit with its master of management analytics.
Peter Husar, a partner at Deloitte and leader of the firm’s analytics financial services division, welcomes them. He says there’s rising demand for people who can leverage analytics to create business value. As just one example, retailer Macy’s uses analytics to optimize pricing in its stores weekly, to determine what merchandise to mark down and by how much, and to maximize sales and profit.
While there are statisticians and economists who can crunch numbers, they often don’t have the necessary business savvy and insight to make appropriate recommendations based on their results. That led Mr. Husar to reach out to Murat Kristal, associate professor of operations management and information systems at Schulich.
Prof. Kristal, too, saw a real need for these skills. In his research among Canadian businesses, he discovered that although they had a lot of transactional data such as sales information, they had no one to analyze it. “All they have is a BI [business intelligence] tool that gives means or weekly stats,” he said. “Nothing they can act on. And what I started to see is a lot of people designating themselves as capable of doing business analytics, but they can barely add two and two together.”
When he proposed the program to the Schulich’s dean’s advisory committee a year ago, he cited the movie Moneyball, in which Oakland Athletics general manager Billy Beane analyzed what had been disregarded player stats to find undervalued players to rebuild his cash-strapped team.
“Do you remember how they literally changed the game by using numbers and statistics?” Prof. Kristal said he asked the committee. “That’s what we want to do with this program. We want to use numbers and statistics in operations research to change the competitive landscape.”
It’s a strategy that companies in virtually all industries are embracing. Fairmont Hotels & Resorts Inc. uses analytics to predict guest requirements and optimize its marketing. Amazon.com Inc. uses it to suggest books a customer might enjoy, based on previous purchases. General Electric Co. uses it to predict possible failures in its jet engines based on sensor data.
The committee loved the idea, and by May 15, 2012, the school was advertising for students, with a June 15 cutoff. Even with that short lead time, four students were accepted, including Mr. Garmaise.
Upon their graduation in June, one student plans to pursue doctoral studies in business analytics. Deloitte’s Mr. Husar hired Mr. Garmaise as a senior consultant in his analytics consulting group. The other two are joining analytics software market leader SAS Institute, which has assisted Prof. Kristal by helping to design the program curriculum.
In existing programs, almost 100 per cent of graduates are being hired at graduation, at pay rates higher than that of MBAs. In fact, many of this year’s 80 graduates of North Carolina State’s analytics program are juggling multiple offers, at salaries over $80,000, SAS chief executive officer Jim Goodnight said.
At Queen’s University, Yuri Levin, professor of management science and operations management, has received more than 250 applications for the 45 slots available in September. “It’s a very applied program we hope to deliver with close ties to industry,” Prof. Levin says.
But the program won’t just be about number-crunching, he says. “The key challenge for people with technical skills is working with management. People have to understand the business, and to communicate effectively with non-technical people.”
Source: Special to The Globe and Mail, LYNN GREINER, Published Tuesday, Jun. 11 2013
All the piles sweet treats in your workplace kitchens or around your receptions desk is likely making you fat. A study from CareerBuilder confirmed what most of us already realized, work leads to weight gain. According to their study 44% of workers surveyed said they have gained weight at their current job.
The poll consisted of 3,600 full-time workers, found that out of the group that gained weight, 30% pilled on more than 20 lbs.
Stress is a big factor in weight gain. Stressed induced eating leads to 3 PM munchies cravings, along with regularly eating out. Sitting hunched over a keyboard for 8 hours definitely.
Eight Weight Gaining Jobs
Your employees spend a minimum of 40 hours a week at the office. In some cases they spend more time at work than with their family or friends. Creating a welcoming and comfortable surrounding will go a long way towards creating a solid reputation as a top employer.
Companies like Infosys and Google brought out the big guns. Infosys tries to foster a culture of fun by building a bowling alley into their office.
Google built a slide so employees can literally slide from one floor down to the next.
You don’t have to invest in pool table or place bean bag chairs throughout the office, it could be something as simple as daily fresh fruits and foods. Focus on making a comfortable environment that enables your employees to succeed.
Hootsuite offers a full kitchen that is stocked with healthy organic foods and craft beers on tap.
The common trend among the world’s top employers is their implementation of the flexible work schedule and the incorporation of new technologies that allows them to be more efficient. Allowing your employees to bring their own devices they are most comfortable with instead of forcing them to adopt and learn a new technology they don’t like to use.
Create an environment that fosters creativity and promotes people to be healthy. Some offices have yoga rooms or gyms.
Although we have always repeatedly heard a valued employee is a more successful employee, it doesn’t seem to ever translate to an action. “According to CEB’s quarterly global market research. The No. 3 reason employees look to leave their employer in 2013 is respect.” Compensation and stability topped the chart but, respect is close behind.
Barry Shwartz gives an eye-opening presentation at TED that expands Monetary versus Motivational recognition.
Kevin Daum recently wrote “10 Things Really Amazing Bosses Do” which compares what good bosses will do versus amazing bosses. One comparison that stuck out was creating a culture that allows people to voice their concerns and frustrations.
“Good bosses, create an open environment for voicing concerns and frustrations. Amazing bosses create an environment when people are empowered to make change on their own to improve product, process, and procedures. They integrate open communication to the point where the expression of honest concerns is expected, required and desired by everyone involved to achieve the highest levels of team performance.”
forbes.com, huffingtonpost.com, inc.com
The Chairs and CEOs of the Certified Management Accountants Society of BC (CMA BC) and the Certified General Accountants Association of BC (CGA-BC), and the President and CEO of the Institute of Chartered Accountants of BC (ICABC) have signed an agreement to pursue a merger. The three self-regulated accounting professions are working to unite under the Chartered Professional Accountant (CPA) designation.
After extensive consultation, the agreement was reached following votes by the ICABC Council, CGA-BC Board and CMA BC Board in favour of unifying the three organizations. Together, they will work with the provincial government to enact CPA legislation, legally merge, and establish CPABC, which will be one of the largest professional organizations in the province.
“This decision is in the best interest of the public, as well as our members and students,” said Candace Nancke, FCGA, Chair of CGA-BC. “We are excited to join our colleagues across Canada in this initiative.”
The three organizations will work together to build Canada’s pre-eminent accounting and business designation. With more than 34,000 members and students in BC, CPABC will foster the growth and evolution of the accounting profession, while also providing the expertise to help businesses in every sector of the economy.
“Beginning this fall, our three organizations will jointly deliver the CPA Professional Education Program to students,” said Gordon Holloway, FCA, President of ICABC Council. “The new CPA program builds on our strengths, and integrates the best or our education and training programs to meet the needs of employers.”
“We’re excited. Positive momentum continues to build throughout Canada,” said Pat Kennedy, FCMA, Chair of CMA BC. “The CPA designation is now active in Quebec and Ontario, and regulatory bodies representing the majority of professional accountants in Canada are working to unite under this banner.”
Until such time as legislative changes are enacted, CA, CGA, and CMA members will maintain their current designation, and the ICABC, CGA-BC, and CMA BC will continue their existing mandates of self-regulation, education, and advocacy.
The Institute of Chartered Accountants of British Columbia is the training, governing and regulatory body of B.C.’s 11,000 members and just over 1,800 CA students. The Certified Management Accountants Society of British Columbia represents over 4000 members and 1000 CMA students and candidates. The Certified General Accountants Association of British Columbia represents almost 11,000 CGAs and nearly 5,000 CGA students. The three bodies protect public interest through rigorous educational and certification programs to uphold the highest professional standards and ethics.
CPAs in British Columbia will serve the public interest across all sectors of the economy with integrity, sound ethical practices, disciplined regulation and proven strategic management and financial expertise. Accounting bodies representing 85 per cent of Canada’s professional accountants are committed to unification or have already merged under the CPA banner.
Source: Chartered Accountants of BC
Recent news that the BC Liberals discounted B.C.’s film industry in preparing the B.C. Jobs plan
I think Governments need to understand that the extreme portability of film industry investment puts it into a unique class in terms of strategies and incentives needed to keep projects coming to our province. I have no vested interest in the film industry in any way but I recognize the benefit to our economy and I like to see film crews on our streets.
If you come across a great article on salary surveys, let me know in the comments section I will include it to our list.
Here is the truth
Hiring managers take 5 seconds to scan your resume to determine whether you are a suitable candidate.
Within those 5 seconds it is up to you to persuade them that you are not only a suitable candidate but also the perfect candidate.
How it works?
Similar to how certain advertisements are able to make you pause and read on, like Free, 80%, Sale, Hiring Managers are also drawn to trigger keywords.
How to determine what are the keywords?
They are found in the job posting. Comb through the job description. Look for repeated phrases.
Hint: The phrases that are located at the top of the job description and repeated throughout are usually the priority key phrases.
Lastly, include these keywords in the top 1/2 of your resume.
How to Test whether Resume has the right keywords
From Ian R McAllister’s “The five point” why was I rejected” job application test.
Keep in mind getting the hiring manager’s attention is step one and keeping them is step two. You will need to support these key phrases with your achievements.
Just three years ago, PersonalMBA founder Josh Kaufman declared MBAs “mostly a worthless piece of paper,” harsh words for students who are considering a career in business. But there’s good news. The latest Graduate Management Admission Council (GMAC) study indicates that MBA hiring is up, and in fact, 2012 was the best year for MBA employment since the recession hit.
MBAs are finding jobs once again, but they may not be where you’d expect. Increasingly, they’re headed to growth industries rather than Wall Street. Manufacturing, technology, and health care show particularly strong growth for MBA hires. In response, business schools are offering more specialized MBAs that cater to these industries and lead to career opportunities off the beaten MBA path.
A specialized MBA not only teaches general management principles, but also focuses on practices that are unique to a particular industry. Excelsior College School of Business and Technology dean Jane LeClair explains, “An MBA that provides for an industry specialization better prepares students for upward mobility by putting basic MBA principles into real-world context applicable to their chosen fields.”
Business schools have recognized that there’s an increased employer demand for specialized talent at the MBA level. In response, they’ve changed their offerings and curriculum to give graduates a competitive leg up in these growing industries. “(There’s a) growing need to address industry needs as more of the work force nears retirement,” said LeClair of the college’s Health Care Management and Technology Management MBA concentrations. As an example of a response to industry changes, Excelsior’s Technology Management and Health Care Management MBAs opened for enrollment in 2010 and 2012, respectively.
Manufacturing is an overlooked industry for many business students, as it’s traditionally considered to be reserved for skilled workers doing manual labor. Contrary to popular belief, manufacturing has grown past its Industrial Revolution history of back-breaking labor. This is a changing field, one that has become more complex and technology-driven, and is in need of knowledgeable managers.
For decades, low-wage China was the go-to location for manufacturing, but work is coming back to the United States, thanks to cheap and abundant natural gas, intellectual property laws, and public policy. Hugh Welsh, President and General Counsel of DSM North America. reports that these factors, including U.S. innovation and human capital are bringing manufacturing work back to America and turning manufacturing into a fast growing industry. It’s no surprise, then, that four out of the 11 fastest-growing industries in 2013 are in manufacturing.
With all of this growth, managers are needed to make sense of supply chains, employment, and accounting. GMAC reports a 76% success rate overall for MBAs seeking manufacturing positions.
MBAs are a hot commodity in manufacturing, especially when coupled with a technical degree like engineering. MIT’s Leaders for Global Operations (LGO) program offers an engineering-MBA dual degree that allows graduates to pair management acumen with technical expertise. LGO director of operations and partner integration Joshua Jacobs believes this degree gives students the resources they need to be successful in a technical manufacturing setting. “With this background, our students bring the ability to drive change in large manufacturing organizations, in areas such as lean transformation, supply chain and logistics, sourcing, new product introduction, and quality. LGO graduates have a technical credibility that allows them to lead within engineering-focused organizations,” says Jacobs.
Hot jobs for manufacturing MBAs are in the fields of project management, business analysis, and supply chain management. In these positions, manufacturing MBAs pair technical knowledge with management know-how. Industrial production managers oversee manufacturing and plant operations, coordinating, planning, and directing the activities necessary to create goods. Supply chain managers, or logisticians, analyze and coordinate the supply chains of organizations. And business analysts explore new paths in efficiency and profitability.
These accredited business schools offer online MBA degree programs with concentrations/specializations in manufacturing:
Health care needs MBAs now more than ever before. With an aging population, medical costs on the rise, and new reform, medicine is an industry full of growth and transition, and MBAs can help with new challenges. Hospitals and health care providers are trying to cut costs while still delivering good care. Health care costs have increased an average of 2.5% more than the U.S. GDP since 1970. That rate shows no signs of slowing down, but MBAs have the knowledge to make it happen.
Doctors and nurses provide health care, but MBAs make hospitals work. Medical professionals often take a reactive approach to work, focusing on providing the best care to the patient they’re seeing for the next 15 to 30 minutes. That’s effective for individual patients, but MBAs are necessary for proactive thinking. Health care needs MBAs to consider the big picture and long term goals, like maximizing preventive care and patient efficiency.
With a health care MBA, graduates are prepared to take on one of the most intricate and dynamic industries in the world. “(Health care’s) growing scope and complexity fuel demand for leaders with both business acumen and keen industry insight,” explains Duke University associate dean for career management Sheryle Dirks. LeClair agrees. “Given recent health care reform legislation and the attendant tiered implementation efforts, for organizations to survive this rapidly changing environment, it is important to plan strategically both for the change and to maintain the standards of quality, cost controls, and effectiveness,” she said.
Health care MBA programs prepare students for careers in senior-level health care management. In many programs, students are able to learn from a multi-pronged approach that represents the needs of health care today. That’s evident in programs like the Duke Health Care Sector MBA, which offers students an interdisciplinary approach to learning that leverages the university’s capabilities in business education, research, and clinical care. Students work closely with faculty, industry leaders, and providers to explore health care’s most pressing issues through a multi-faceted lens.”
Major employers for Health Care MBAs include hospitals and large health organizations, as well as biomedical startups and pharmaceutical research and development. A third of Kaiser Permanente‘s 16,000 to 18,000 new positions each year are in management and operations. Hospital Corporation of America is the largest private operator of health care facilities in the world, and targets new MBAs with a special executive development program. Biotech giant Amgen is eager to hire management grads as well with an MBA Leadership Program and summer internships.
Many graduates of health care MBA programs are also finding that their degree opens options beyond major health care organizations. “Students are reflecting a trend of choice: they are choosing to move from a corporate atmosphere to a more altruistic, people-centered atmosphere,” says LeClair.
Popular jobs for health care MBA graduates include hospital management and administration, health care financial management, and health services management. Hospital administrators make sure that facilities provide the best, most efficient care possible. This career is believed to be among the best jobs in America. Financial managers may find more opportunity in health care organizations than Wall Street, as hospitals are becoming competitive in hiring financial managers who oversee patient billing, health care value, and profitability.
These AACSB-accredited business schools offer online MBA degree programs with concentrations/specializations in health care:
Technology has allowed us to store and search the entirety of human knowledge. It’s allowed us to reach the moon and build a national highway system. These feats don’t happen without scientists and engineers, but they don’t happen without effective management, either. This industry needs professionals with technical know-how to dream up the ideas that can develop into these major human accomplishments, but also need managers that can follow through to make dreams and ideas a reality. Innovation is everywhere, and technology is not just a field for scientists and programmers anymore. Managers are needed to turn big ideas into real, concrete products and services.
There’s big business in technology, reaching practically every industry in the world from education to communications and manufacturing. Business and technology are increasingly intertwined, and organizations need leaders that can understand both. Business professionals in the tech world can offer insight into cost, customers, and trends. MBAs can guide startups and bring business sense to scientific minds. There’s no end to the potential value that management professionals can bring to technology, whether they’re working on government contracts or growing companies from the dorm room to the board room.
Technology, and the high tech industry in particular, is growing three times faster than other areas of the private sector in the United States. MBAs who haven’t thought of technology as a career choice should think again: the technology industry has grown rapidly in recent decades, and data indicates that there’s still room for plenty more.
High tech businesses realize the value of MBAs in their organizations, so it’s no wonder that there’s a 22% growth in hiring MBAs, and a 70% success rate for job offers among MBAs pursuing technology positions. Even for currently working technology professionals, an MBA can open up doors to new areas of IT, or even allow a tech MBA to climb the ladder to CIO or CTO. And this climb can happen practically anywhere, as 98% of U.S. counties have at least one high tech business establishment.
Technology MBAs allow graduates to take on managerial positions in tech fields, bringing life to innovations and maximizing the potential of new and existing technology. MBA grads in this field “know how to effectively integrate and manage technology within an organization and understand the strategic management principles that need to be applied to develop, implement and overcome the challenges associated with innovative technology and change,” says LeClair of the school’s Technology Management MBA.
Graduates of technology MBA programs often go on to work for major employers including Microsoft, Deloitte, Ernst & Young, and Google, but there are also exiting opportunities in growing startups and incubators.
Technology management MBA grads are often currently-working tech professionals seeking promotion in the field. With this degree, they can move up to positions including systems management, systems analysts, and even IT directors or chief technology officers (CTO). Systems managers determine the information technology goals of an organization and oversee the work of the IT department. Chief technology officers focus on the scientific and technological issues of an organization at the executive level.
These accredited business schools offer online MBA degree programs with concentrations/specializations in information technology:
MBA careers are more competitive now than ever before. In recent years, we’ve seen an a record jump in the number of MBA graduates, and companies just aren’t hiring MBAs like they used to. But top management talent can hedge against this competition by pursuing specialized programs in growth industries that go beyond the typical MBA track. Consider what an MBA in a growth industry can do for your career.
Contributed by Janet Williamson, www.OnlineMBA.com
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