by Andrew Gibbs-Bravo

As most students have by now realized, the cost of receiving a post-secondary education is considerable. Those considering taking their Masters in Business Administration will likely find the cost of tuition staggering, with some programs such as the Ivey School of Business charging 73,500 dollars in tuition alone. Fortunately for those who wish to acquire the education but cannot afford the hefty fees, there is hope. Aswath Damodaran, a Professor of Finance at the Stern School of Business at New York University, operates a website that gives users access to all of the content offered in his valuation and corporate finance MBA programs free of charge. The content includes: recorded lectures, slides, notes, projects, and spreadsheets that can be used for more complex calculations. I have been following his MBA valuation class and find the caliber of the lectures exceptional. Professor Damodaran approaches the material with a unique energy and sense of humor, bringing life into the at times dull field of finance. For those with no previous experience in finance some of the content may be too sophisticated and I would recommend familiarizing yourself with some basic concepts before pursuing the course. As previously mentioned the site includes quizzes and projects in order to assess your progress, as well as access to the projects of other students currently enrolled. The course is fantastic and I recommend it to anyone entering into finance or those simply interested in the topic.

by Victoria Craig

In case you have been living under a rock these past few days, here is an overview of one of the hot topics in the U.S. politics and business world that you’ve probably heard your profs or peers chattering about:

Keystone XL

If you haven’t heard of it, give this a read through and you’ll be a bit more up-to-date on one of the bigger current events unfolding in the business world you are hoping to enter upon graduation! Keystone XL is a 1,661-mile pipeline proposed by TransCanada Corp., designed to transport crude oil from the Alberta tar sands down to refineries in Texas’ Gulf Coast in the U.S.

What’s the point?

Well, this would mean that the US can secure majority of its oil supply from North American sources rather than the Middle East, and thus, reducing the risks of cut oil supply resulting from the seemingly constant conflicts and threats. In addition, the cheap crude oil provides one attractive export opportunity for the U.S. as the Gulf’s location offers an expansive refining complex and a major oil-exporting hub. And of course the projected creation of $100,000 jobs (re-affirmed by House Speaker John Boehner) is hard to ignore in a U.S. economy where unemployment is the biggest concern. But with all of these positives comes the constant threat of a spill. With the effects of the BP incident still fresh in the minds of environmentalists, the mass protesting of the pipeline is understandable. However, many of us may be wondering why Obama has stalled on giving the go-ahead for the project until after the 2012 Presidential Election just because of some environmental protests. Because at the end of the day, does stimulation of a stalled and flailing US economy not outweigh the environmental risks? Would job creation not earn him some election votes?

Well perhaps the risks aren’t so small… critics of the pipeline aren’t just opposing its creation, but specifically the route it will take to reach the Gulf. Keystone XL will pass through Oklahoma, Nebraska, crossing the Ogallala Aquifer.  The significance: this aquifer provides irrigation to 27% of the U.S.’s farmland. If you damage or pollute this aquifer, the ripple affect on the U.S.’s ability to feed itself and export crops is downright frightening. That’s close to a third of U.S farmland output that can be depleted by one spill and that’s an economic hit the U.S. cannot afford to bear. So as TransCanada Corp. prepares to re-apply for a permit to build the pipeline, possibly with an alternate pipeline route to the Gulf, it is no wonder Obama is aiming to “de-politicize” the decision to approve the pipeline. Because if he approves it now, and if the aquifer is damaged, he’ll always be remembered as the President who sent the U.S. economy to hell in a hand-basket when it was already down.

by Klara Raic

Here’s what I learned recently: the insurance industry, like many others, will be suffering a major personnel shortage within the next three years, as 25% of industry professionals will be eligible for retirement by 2017. This means that 9,000 jobs will be opening up in Ontario very soon.

This past Wednesday, I attended an SBESS BUNCH (that’s business + lunch) to hear a little bit more about the insurance industry. I am pretty unfamiliar with this field in general, and I suppose that was one of the main reasons I had never considered it as a potential career path. This BUNCH gave me some great insight into a field with exponential possibilities, and of course, a free lunch!

The four guest speakers in attendance each shared their stories from the industry. One speaker was a younger woman, who originally had no idea what career path she wanted and ended up switching from a career in cooking to a career in insurance. Another speaker was a younger man who found his way into insurance and now loves going to work every day. The final two were both mature professionals in the industry; one a VP of Operations and the other an HR professional, after working in auditing for a while. Their stories were all quite different and demonstrated just how many interests and concentrations can be part of a career in insurance. Every insurance company needs finance, marketing and HR people, as well as brokers, underwriters, actuaries and investigators.

Lisa Powel spoke about how she loves her career because she got the chance to step out of the office for a few years while she had children. She says she enjoys the flexibility within the insurance industry and is thankful that she was able to leave and come back. Insurance is a stable career that is easy to enter and exit without too much difficulty.

It’s also no secret that people in insurance get paid more than most, despite having a seemingly boring job. What I learned at the BUNCH, however, is that although you may have to pay your dues and work a boring brokerage job at the beginning, later on there are ways to incorporate your interests into your work. You can work with homes, people or other interesting objects such as David Beckham’s legs (seriously, Google it), rather than just cars or auto insurance.

Overall, this was an incredibly informative BUNCH event and I am already looking forward to the next one!

For info on the next SBESS BUNCH, check out http://www.sbess.ca/bunch.php.

For more information on careers in insurance visit http://www.career-connections.info/

by Rochelle Heinrichs

When it comes to the social shoe company, TOMS, I will admit that I’m a very enthusiastic fan. Not only do I love the shoes and what they represent, but from a business standpoint I am fascinated by the model that founder Blake Mycoskie has created. Not only has he found a simple yet effective way to incorporate a social purpose into a for-profit business, he has spawned an entire movement of young people interested in seeing the world change. It’s kind of like Free the Children in the for-profit world.

Naturally, of course, when I heard that Mycoskie recently wrote a book called “Start Something That Matters” (Random House) I was excited, and lucky for me, I also had an excuse to read it. For my Leadership class this semester we are required to write a review of a “leadership” book. You guessed it – I chose this one.

Now, I’m not just saying this as a fan, but this is probably one of the most inspirational books I’ve read in quite a while. Although it is an easier read, filled with stories and examples of other successful organizations, it is not to be passed up. As a business student interested in making a social impact, I was eager to find out what advice Mycoskie would give. In the book’s eight chapters, Mycoskie explains how you must first have a story with which to build a vision, and that being authentic and building trust among your supporters and partners can be the difference between failure and success. Not surprisingly, much of what he describes runs parallel to the characteristics of a leader, concepts that we have covered in my Leadership class. The book is filled with not only practical advice but inspiration and encouragement, urging readers to “let those ideas move from the back to the front of your mind,” because “you owe it to the world to act.” How about that for motivation?

As it is a fairly short book I won’t go into too much detail and risk spoiling it, but I will say that if you are interested in making a difference and want to be inspired by someone who has found success, this would be a great start! Also, the stories he tells are pretty funny. Like the one about the TOMS wedges…

by Laura Meneguzzi

After many marketing-specific lectures last term, I have really started to think about the importance of customer service. As a more prominent issue in today’s marketplace, I’ve started to notice the level of customer service at all stores and organizations with which I interact and have gained an appreciation for companies that put noticeable effort into customer care.

Unfortunately there are companies that have not recognized the value of superior customer service.

Consider my experience with one of the telecom giants when my cell phone decided to break down six months before my contract was due. Rather than try to retain a customer who had provided years of patronage, both the in-store representative and telephone operator showed little interest in my future business. In another instance, a price discrepancy at a retail giant brought me to the customer service counter, where I was greeted with excuses. Not only was the blame deflected to me, the customer, but one of the clerks was disrespectful in speech and action. No employee of any store should treat its customers in such a way.

Of course there are companies who truly try to provide the best customer care possible. But because customer service is often inconsistent between different stores, situations, and employees, organizations must instil a culture that recognizes the importance of customer satisfaction.

At the end of the day, customers choose to purchase your product, shop at your store, or use your services over other competing options. Customers are the source of your revenue and ultimately make it possible for you to bring home a paycheque. Too many employees who interact directly with customers do not recognize this reality. Only when this concept is truly understood by companies and its employees will customer service take centre stage with companywide programs and expectations.

by Leeza Pece

To Write or Not to Write? That is the question…

…Or at least it was for me, as I sat and stared at my computer screen emblazoned with the words “LSAT Registration. Step 1.“ I had been dreaming about getting into law school since that fateful day back in 2001 – after watching Elle Woods get into Harvard, like it was as simple as a flip of her long blonde hair. Of course I have both personal and professional reasons for wanting to become a lawyer, but let’s be honest – Elle sure made it look easy.

Unfortunately, the past few months of researching schools and admission requirements has taught me that the process is going to be anything but. I could no longer hide behind the comfort of my Legally Blonde DVD case. If I wanted to get in, my applications were going to require some serious work.

Thus began my search for an LSAT prep course, which led me to the Oxford Seminars website where I registered for a 30 hour, Thursday – Sunday, LSAT preparation course. There were plenty of locations to choose from, and the site was extremely user friendly. The only downside was the price; it was a bit steep, but I was willing to do whatever it took to get myself ready for the test.

Thursday night, I had absolutely no idea what to expect but thought it would be a light evening. Oh how wrong I was. Instead, I got lost on my way there, and clumsily hurried in to a silent room, full of students writing what appeared to be a test! “I was 5 minutes late, how much could I have possibly missed?!”

It turns out that the first day of each session is a mock LSAT examination – a “throw one into the Lion’s den and watch you try to survive” type of philosophy – to show you just how serious the application process really was. The following days were instructional classroom sessions that go over each type of question potentially on the LSAT and strategies to attack each one. The last day also included another mock exam to give you an idea of where you stood in terms of score and improvement.

Although, being forced to write a test I’d never seen before was slightly terrifying, I was surprised to see how effective it was. By Day two I already knew which areas were going to be my weaknesses and which would be my strengths, plus I got a textbook of 10 practice LSAT tests, which I quickly learned was going to be my key to successful preparation. Furthermore, the instructor was very well trained and patient while she explained all there was to know about the test and application process.

Now I know what to expect and exactly how to study, which completely outweighs the initial fee. Oxford Seminars brought back some of that Elle Woods perspective that I’ve deemed necessary to shed a positive light on the otherwise daunting process of LSAT preparation.

by Maria Mustansir

The most dreaded and anticipated project every first year business student has to experience has come to its end, (at least for this semester). Before coming to Laurier, I had been hearing about New Venture from many of my upper year friends.  The momentum kept building when I met my group, we had our first meeting and we all got along.  I was both excited and nervous to see what my group members and I were capable of producing. The moment when we handed in the final report was instrumental, as we were all proud of the time and effort we had put into it.

One of the challenges during the journey was that I felt that my professor and TA did not provide us much guidance on how to write a formal report. Instead, we were told what to include in it and given a push with the hope that our wings would unfold in time to save us. This was difficult because there were no examples available on what was expected!

Obviously an important aspect of the New Venture project is group work and establishing a clear communication line.  You need to know the role each person has in the assignment, to ensure there are no overlaps and overriding of information. One key piece of advice I wish I had gotten sooner is that instead of spending lots of time working on your individual part of the assignment, you should allocate more time for group work. I have noticed that when people realize they are working in a group, they tend to give less than their 100% . This is because each member relies on the other to bring out the best in him or her and, truthfully, to pick up their slack.

Now that the first part of the project is done, there is finally time to breathe before the next wave hits.

by Rochelle Heinrichs

It may not be on your radar if you’re not job hunting (or if you don’t make it to that side of campus often), but in my opinion it is one of the best practical resources on campus! Until this year, I hadn’t really given the Career Centre much thought. Sure, I received all the emails about recruitment sessions and workshops, but I didn’t think I needed those things. I was SO wrong!

In September I attended the Resume Writing workshop and I was blown away by what I didn’t know about writing a resume! Things have definitely changed from what I learned in high school. For example, I didn’t know that you need to customize your resume for each job you apply to. I just assumed my resume is my resume – static, boring and limited to one page. The workshop is great because it walks you through each section of your resume and guides you as to what information you should and shouldn’t include. I also attended the Cover Letter Writing workshop which was equally as helpful, and is conveniently held right after the Resume workshop. By attending both I probably increased my job-seeking success rate by 1000%.

Other services offered by the Career Centre are peer mentoring, career advising, mock interviews and more. It truly is a fantastic resource to prepare you for the job hunt. The things you learn are so applicable and practical, you will wonder why you didn’t attend sooner!

Signing up for any of these sessions or workshops is really easy and they don’t usually run too long, meaning you have time to fit them into your busy schedule. I highly recommend you make use of this resource as it honestly makes your life easier and you feel ten times more prepared. You also get to take home handy-dandy booklets that recap everything you learned at the workshop – great for future reference!

For more info and to sign up for sessions, go to www.lauriercc.ca/career.