2005-05-16

Measure it to Manage it

All that we have in a term are 10 classes, about 20 hours for each subject. In these hours, the Prof is supposed to facilitate our learning of all that of Statistics or Microeconomics or other subjects. For some subjects, there are two Profs., meaning that one Prof will be around for 5 classes. Today we had the last session from Prof Ward of Wharton. He did a fantastic job of stimulating us to think. Marketing can really work wonders provided one does it properly. The clear take away from these five sessions is that “One cannot manage what one cannot measure”. One cannot claim that one will be able to turnaround a company by making a marketing mission statement. One needs to support all the claims with data. Of course, at some point assumptions take over. But again assumptions are not drawn out of vacuum.

MBA program at ISB, as it is at other top b-schools, is highly quant based. For me who has been less quant oriented the entire life, though the going is tough, the learnings are quite amazing. As Statistics summarizes, it is easy to lie with data, but it is easier to lie without data. If I choose to ignore statistics or math-orientation, I can choose to be an author of a book or contributor to newspapers or magazines or even an also-ran manager, but can never aspire to reach the top echelons of corporate world. The skill of handling data to make decisions is quintessential. And slowly but surely I am getting there. My decision to incur a big cost and a huge opportunity cost to go for an MBA education at ISB is indeed a good one.


Post Scriptum:
Before opinions are formed, the contact hours of 640 hours at ISB are more or less comparable with other top MBA programs of the World. In terms of quality of teaching ISB stands second to none. But the fact that all the contact hours are compressed into one year makes difference. It is quite intensive and definitely not for the weak hearted.

No comments:

2005-05-16

Measure it to Manage it

All that we have in a term are 10 classes, about 20 hours for each subject. In these hours, the Prof is supposed to facilitate our learning of all that of Statistics or Microeconomics or other subjects. For some subjects, there are two Profs., meaning that one Prof will be around for 5 classes. Today we had the last session from Prof Ward of Wharton. He did a fantastic job of stimulating us to think. Marketing can really work wonders provided one does it properly. The clear take away from these five sessions is that “One cannot manage what one cannot measure”. One cannot claim that one will be able to turnaround a company by making a marketing mission statement. One needs to support all the claims with data. Of course, at some point assumptions take over. But again assumptions are not drawn out of vacuum.

MBA program at ISB, as it is at other top b-schools, is highly quant based. For me who has been less quant oriented the entire life, though the going is tough, the learnings are quite amazing. As Statistics summarizes, it is easy to lie with data, but it is easier to lie without data. If I choose to ignore statistics or math-orientation, I can choose to be an author of a book or contributor to newspapers or magazines or even an also-ran manager, but can never aspire to reach the top echelons of corporate world. The skill of handling data to make decisions is quintessential. And slowly but surely I am getting there. My decision to incur a big cost and a huge opportunity cost to go for an MBA education at ISB is indeed a good one.


Post Scriptum:
Before opinions are formed, the contact hours of 640 hours at ISB are more or less comparable with other top MBA programs of the World. In terms of quality of teaching ISB stands second to none. But the fact that all the contact hours are compressed into one year makes difference. It is quite intensive and definitely not for the weak hearted.

No comments: