Tag Archives: MBA

Do you need an MBA to be an Entrepreneur?

Do I need an MBA to be an entrepreneur

By EIBF President, David Falzani MBE

Since the MBA first materialised more than a century ago it’s been intrinsically linked to business career success.  After all, the programme is designed to prepare professionals for senior management positions within business, so it’s little wonder that many of those with MBAs have gone on to have wonderful business careers. You would therefore be forgiven for thinking that an MBA would be an invaluable – and even necessary – tool for launching your own business.  However, the answer to the questions ‘do you need an MBA to be an entrepreneur’ is a little more nuanced than you might initially think.

In today’s fast-paced digital business landscape, starting a business is easier than it’s ever been.  Start-ups are everywhere, and guess what? The vast majority are not led by people with MBAs.  Most people with that entrepreneurial fire tend to ‘learn by doing’, usually picking up useful advice from mentors and role models along the way.  Depending on their type of business, some of them may even enrol in educational accelerator programmes such as the Royal Academy of Engineering’s Enterprise Hub which is aimed at engineers.  If these entrepreneurs do take on an MBA, it’s usually after they’ve completed their first foray into the world of business. That’s not to say an MBA can’t be hugely advantageous, but it certainly isn’t a requirement.

When MBAs were first established, they were not really geared toward entrepreneurship. They were, and still are, a primer for business. They were designed to whet the appetites of candidates and equip them with the basic tools and knowledge needed to go on and thrive in their business careers, in whatever role they chose. However, like business itself, the MBA is always evolving. The past 15 years in particular have seen the MBA change considerably, now offering lots of entrepreneurial options that could easily set somebody on the path to launch their own enterprise.

Twenty years ago when I did my MBA, which spanned Europe and the USA, things looked quite different.  The European portion of my MBA had no exposure to entrepreneurship as a subject at all, whereas the USA portion not only recognised entrepreneurship, but dedicated a separate branch of teaching to it that covered specialised techniques and approaches to business.  Of course, things have changed today.  So, if you are considering an MBA and have that entrepreneurial fire within you, know that there are MBAs out there that will fully support it and arrange their teaching around it.  In fact, most MBAs will have a leaning one way or another depending on the schools that are providing them, and the electives that are available – that’s why it’s crucial to pick the right course at the right institution, and entrepreneurship is no exception.

While it probably doesn’t hurt to have an MBA, with the wealth of knowledge it brings, don’t let the fact that you don’t have one (or don’t have the time/resources to get one) hold you back. There are countless ways to quench that entrepreneurial thirst, from entrepreneurship programmes at universities to local business groups that let you liaise with successful business leaders.  An MBA is a valuable asset, but it’s far more focused on the bigger picture.  You might even find that you learn more from an MBA once you’ve tried your hands at business. Whether you win or lose, the experience alone will be enough to prepare you for an MBA, in the same way we recommend a few years in industry first for those thinking about an MBA as part of their career development.

An MBA is a fantastic educational experience that can provide a great career boost, but if your sole objective is to start your own business there’s probably a better route you can take in 2020.  For example, I’m a trainer on the Goldman Sachs 10,000 Small Business UK programme that runs out of Oxford University.  Each year it attracts 140 brilliant small business CEOs and very few of them have MBAs.  What they do have, however, is a huge amount of support and business advice from mentor figures and people taking part in the programme.  Similarly, there are many regional programmes specifically for start-ups, often run by local universities or business schools.

For example, at the University of Nottingham, where I’m a professor, we have a start-up Lab for new businesses, and more than 50 entrepreneurs in residence who are available to mentor, support and run workshops for young aspiring business leaders. While higher education qualifications are still very much valued, there seems to be an increasing appetite in entrepreneurial circles for raw, ‘learn by doing’ experience and the kind of knowledge that can really only be passed down from one successful business person to the next.

With this in mind, it’s safe to say that an MBA is most certainly not a requirement if you’re looking to start up your own business. By all means view it as an option, but know that there’s a wealth of support, advice and mentorship out there that could get you to where you need to be far more effectively and faster than an MBA.

If and when the time is right for you to do an MBA and you are a professional engineer considering an MBA, you can apply for a scholarship towards your study. Visit our MBA scholarship application page to learn about our £500,000 annual Sainsbury Management Fellows scholarships.

Photo by Austin Distel on Unsplash

When to do your MBA?

By David Falzani MBE, President EIBFProfessional engineer

An MBA is a highly regarded and sought-after qualification for employers around the world. Not only can it leave you standing head and shoulders above your peers, it can transform the opportunities that open up to you as you progress in your career.  One of the questions we are asked by prospective MBA candidates is when to take an MBA. Is there an ideal time? Will I get more out of my MBA depending on when I take it?  The optimal time depends on several factors, but more often than not the answer is a resounding yes.

First, you need to consider your personal circumstances and what stage of life you are at.  Do you have the flexibility to take time out to study? Will your finances hold up? Second, you need to consider your career and how you will really benefit from an MBA. Those with several years’ experience in a business or specialised role such as an accountant, technician or scientist, will have a lot to gain from an MBA. Those with very little experience may still benefit from an MBA – but without the ability to contrast what they are learning with knowledge and experience gleaned from work experience – they will not be getting the most out of it. Or certainly not the same benefits as students who have been in the workplace.

In other words, timing is important.  Let’s take a look at the three MBA categories people can choose depending on their life stage: The Executive MBA, Full-time MBA and MBA straight from university.

The Executive MBA
The Executive MBA is a popular route because it enables you to gain the qualification whilst working, so there is no dramatic change to your personal lifestyle. The Executive MBA allows you to study part-time while actively engaged in employment. It’s very much an educational experience which requires you to link your learning to your ongoing work projects and vice versa. For that reason, it’s essential to take the MBA while you are employed in a role that allows you to make those linkages and reap the benefits.

In order to make the most of an MBA you need to be in a role that will give you the latitude to develop and apply what you are learning. If in doubt, explore each business school’s entry requirements as these will help you to determine whether or not you have the right level of experience and are working in an industry sector/role that will ensure you benefit from studying with the school. A good business school doesn’t just want your fees; they want you to thrive and succeed and therefore help build their brand.

An Executive MBA is a great route for someone who is employed in a role that will allow them to maximise the content of the course, develop/grow and add further value to their company. The Executive MBA is often the number one choice for people looking to balance learning with earning.

Full-time MBA
This is the MBA sweet spot and the most popular route to earning the qualification – candidates usually have between two to six years’ professional work experience.  Typically, full time MBA candidates are in their mid to late twenties.  Business schools are particularly interested in this group for two main reasons.  First, this group has professional experience which they can draw upon and link to the course, and then use it in the classroom to benefit themselves and their classmates. Being collaborative and using your previous experience in the classroom is essential – non-participation is not an option.   Previous experience is crucial to maximise the benefits of a full time MBA. If your work experience is the touch paper on a grill, the MBA is the match that ignites it and really gets things cooking. One without the other generally does not work.

Picture a young graduate with no work experience tackling an MBA. They’ll be able to read, absorb and learn, but without being able to apply those ‘learnings’ to practical experience of work, it’s all theoretical for them. It’s worth bearing in mind that around 25% of what you learn in an MBA is through discussion and collaboration with peers. If a student doesn’t have work experience to bring to the table, he or she may find it hard to relate to some of the concepts that will inevitably emerge, as well as hard to contribute to peer discussions.

Second, business schools are interested in candidates with this level of work experience because they are not so locked into their careers that they cannot make dramatic changes in their thinking and future careers.  Although it’s not a hard and fast rule, by the time people reach their early to mid thirties, they are often very invested in their existing careers, and may have young families and financial commitments such as a mortgage.  Although an MBA is a catalyst for growth and change, helping students to build even more stellar careers, these personal and financial factors make the decision to step out of a secure job and into an expensive and demanding full-time MBA too high risk for people who have been working longer than six years.

So, there is a peak time to take a full-time MBA. That peak may vary slightly from person to person, but you need to demonstrate that you have not only drive and ambition but relevant industry experience and are still able to evolve your career; that you are ready to explore new opportunities that will open up.

From university graduation to business school
This is a bit of a wildcard but it’s worth including because, although it’s rare, it does happen. There are business schools that will take a graduate straight from university, without any or little work experience.  Usually, these candidates have already proven themselves to be academic high-fliers who will benefit from the insights that only an MBA can offer and allow them to go even further in their careers. Furthermore, these students (like all MBA candidates) will meet a diverse group of people and these connections may be useful when entering the workforce.

So, is there a good time to do an MBA?
In order to get the most out of your MBA there most certainly is a good time to apply, but that time will vary from person to person depending on their circumstances and life stage.  You should choose to take on an MBA at a time in your life when you are confident that it will enhance your career opportunities. It’s a huge commitment that requires an investment of time, money and effort and you want to make absolutely sure that it’s going to have a tangible and positive impact on your career prospects.

How to Apply for the Sainsbury Management Fellows MBA Scholarship

If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees –the individual scholarship is £50,000 and we award ten of these every year.

Mastering the MBA Admissions Essay

Wharton MBA Candidate Nic Renard

By Nic Renard, (CEng MEng Hons, Imperial College London), The Wharton School, University of Pennsylvania

For some people, an MBA is something that was always going to be a part of their career – a rung in the ladder that they would plan for years in advance.  My journey was a little different. I’ve always loved being an engineer, but after working for eight plus years in the same company I felt the need to make a change. Society needs to evolve, and I want to play a part in driving that evolution. To achieve that, I knew I would need to develop my entrepreneurial skills, deepen my understanding of digital technologies and equip myself with the business know-how to kickstart the next chapter of my career.  That’s when I decided to apply for an MBA.  Having gone through the application process, I thought I would share my experience of tackling the MBA admissions essay as this may help aspiring applicants.

Being true to yourself
“The MBA admissions essay is important for lots of reasons, but ultimately, it’s about getting to know the candidates and their motivations for wanting to do an MBA. It’s very easy to fall into the trap of writing what you think the admissions team wants to hear – if you catch yourself doing that, take a step back and do some more thinking.

“First, it’s very difficult to persuade somebody that you’re something you’re not, and sooner or later you’ll get caught (probably during the interview). The admissions team is very thorough, and reviews thousands of applications each year, so are adept at spotting lack of authenticity; people that present themselves in a way they think will please the admissions team. Second, the essays are a fantastic opportunity for you to reflect on your career journey and your next steps.  Approach the essay as a ‘thinking tool’ – use it to dig deep and reflect on what you have achieved so far and where you want to go next in your career. If you don’t figure out where you want the MBA to take you, you’ll end up trying to recruit for consulting, banking and big tech all at the same time!

“For me, the admissions essay was a chance to sharpen my career plan. It also helped me focus my time and attention on the right activities at Wharton. When you start at your chosen school, you will find so many opportunities at your feet that you will need a clearly defined set of goals to choose the right ones and make the most of your time at b-school. 

Putting pen to paper
“The admissions essay will force you to think seriously about yourself and your career. I found it an interesting exercise, and I learned a few things about myself that might otherwise have slipped under the radar. For weeks, I discussed what I was going to write with my wife, parents and friends, and this helped me to cut through the noise and get to the heart of what I wanted to say. I did find the actual writing of the essays and staying within the word limit a challenge, but it was made immeasurably easier by first figuring out my story and what I wanted to say.

“Coming from an engineering background there were very few people in my network that had gone through the MBA applications process to whom I could go for advice. At the time I was concerned about this, but it was a blessing in disguise as it forced me to focus entirely on what I wanted to say rather than what the admissions team might want to hear. By all means look to others for advice before putting pen to paper, but make sure your essay is yours and yours alone. 

Structuring your essays
“Essays traditionally have a set layout with an introduction, body and conclusion.  This is important, but the format your MBA admissions essays take will largely depend on your chosen topic and your individual story. There is no fixed format or ‘top ten things that need to be included in your essay’.

“That said, the admissions team will be looking for certain traits in your essay. They will want to see examples of leadership, particularly in extra-curricular environments. They will also want to see evidence of proactive contributions in team settings, as well as any industry skills you may have picked up on that might not be explicitly referenced on your resume. Different programmes will have different criteria by which they assess your application, so this will impact the layout and weighting of topics.

“Take care how you express your accomplishments. You need to balance a fine line between singing your own praises and conveying the uniqueness of your application. Be wary of superlative language or anything that feels boastful but do bear in mind that it is a competitive application and the admissions team does want to hear about your accomplishments in the right way.

Making it relevant
“One of the most important aspects of writing an MBA admissions essay is tailoring it to each business school you are applying to. Different schools have different requirements, preferences and weightings, and programmes can vary widely too. Some schools might be looking for academics, others might be more interested in entrepreneurs, some might want natural leaders or industry professionals etc.

“It’s also a good idea to get a sense of where each school’s programme is trying to go, for example, is it trying to develop a new type of major? Does it want to improve its finance rankings? Has it recently opened a new environmental research centre? All of this should be easy to research online and will help you understand what your chosen business schools might be looking for in candidates. Going back to the essay structure, this research could hugely influence the weighting of your essays and how you write them. 

Backing achievements up
“One of the unwritten rules for admissions essays is back up everything you say with real-world examples. No MBA administrator is going to be impressed with a well-written essay that doesn’t demonstrate the talents and skills you claim to have. For example, instead of writing “I’m a passionate team player who leverages everyone’s skills in every project I undertake,” you should write something along these lines: “While working on project X, I personally sought to bring people from departments Y and Z into the team because their skills in A, B and C complemented mine and enabled us to tackle aspect D of the project and complete it X months early.” I think you will agree that the latter example is a more persuasive way of highlighting a relevant skill.

“On the whole, I think the key to unlocking your MBA future and submitting a brilliant admissions essay is simply figuring out why you want to do an MBA and what you bring to your business school of choice. If you take nothing else away from this article, this alone should be enough to set you up for success.”

How to Apply for the Sainsbury Management Fellows MBA Scholarship

If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees –the individual scholarship is £50,000 and we award ten of these every year.

How to tackle the MBA Admissions Essay

By Víctor Manzanares Bonilla, (MEng Polytechnic University of Madrid [UPM]), IESE Business School

“For those aiming to start a successful career in business, there is no better springboard than the MBA. Since its inception at the Harvard Business School more than a century ago, it’s become an incredibly prestigious qualification, sought after by many employers in the world of business. The MBA provides a unique opportunity for flexible, intensive learning that alters thinking and challenges perspectives across a number of key areas. Put simply, if you’re looking for a transformational experience, a change in your career or to take a few steps up the ladder to get noticed in the world of business, an MBA is for you.

“Through a combination of hard work and good fortune, I was humbled to receive a scholarship from SMF to pursue an MBA with the IESE Business School. As a civil engineer, finance and business have never been my strong suit, so I’m very much looking forward to filling these knowledge gaps and complete my profile as I think about progressing my career.  However, gaining an MBA placement is about more than scholarships. The MBA admissions essay is a key part of the on-boarding process, and for many institutions will make or break your application. Having been through this process and tackled the MBA admissions essay myself, I thought it might be good to share some thoughts with aspiring MBA candidates.

Honing your message
“First, it’s important to understand that almost everybody applying for an MBA will have a stellar CV and a solid GMAT score, so these aren’t necessarily things that are going to set you apart.  Make the assumption that every other applicant is as qualified as you are – if not more so – so you’re going to need to look beyond academia and professional career to make an impression. For the MBA Admissions Committee, this is their first ‘handshake’ with you. They’re going to be interested in what makes you who you are, how you’ve progressed in your career and what your ambitions are for the future. What are you hoping to learn? How will an MBA further your goals? What motivates and drives you?

“These are all great questions to think about and require some time for self-reflection. I’d also recommend thinking not only about what the course can do for you, but what you can do for it. What can you bring to the table? How will you be an asset to the particular school you’re applying to?

“The admissions essay is a great time to open up and reveal a little more about your thoughts, values and aspirations beyond the academic grades.

Setting aside the time
“Quite often, the admissions essay will in fact be admissions essays, if you’re applying to more than one school or course. I had to write four essays for IESE, and before starting each, I’d spend at least one day ruminating about what I wanted to say.  I’d think about the title of the essay and how it aligned with my experience and career objectives.  I’d check the business school’s website again to remind myself of their mission and values, and how I might be able to contribute.  An entire day may seem like a long-time to plan a short essay, but if you put in the hours, you’ll find the writing process that much easier.

“That said, I think you also need to know when to call it quits. Having two or three drafts is fine, but if you constantly tweak and modify your final draft into something you think the committee wants to hear (as opposed to what you actually want to say), you run the risk of sounding very generic and impersonal. Remember, the committee wants to get to know you – not a version of you.

Structuring your essay
“Structuring your essay is something very personal, but I would say that all good essays have an introduction, a main body and a conclusion.  However, with something like an admissions essay there’s a little more to think about. First, you need to make sure your introduction is very short and to the point. It should consist of one or two sentences that directly relate to the title of the essay. If your essay title is a question, the first sentence or two should answer it as concisely as possible. As for the body, this is where you show your ‘working out’.  Expand on the introduction, drawing on your past experiences and your own personal values and judgements to support the essay’s core message. Your conclusion should be as concise as the introduction – a quick summary of the main message and the thinking behind it.

“If you’re struggling to get started, do what I did.  Sit down with a blank piece of paper and write down what you want to convey in very simple bullet points.  Then assign relevant milestones and achievements in your life to those bullet points. This will give you a neat structure with a unique personal angle.

Keeping things relevant and in context
“It’s very tempting to fall into the trap of simply listing achievements and qualifications throughout your essay to make up the word count.  Remember, the committee already has your CV and knows how capable you are. This isn’t the time to prove what you can do, it’s the time to prove who you are.

“While this might sound contrary, you should also avoid making the essay all about you. Yes, the committee wants to get to know you, but they also want to gain a deeper understanding of what kind of student you’d be and how you’d fit into their school.  So, talk about yourself, but do so in context.  Each time you mention one of your experiences, traits or values, think about how that might resonate with the school or course you’re applying for.

Answering the ‘big question’
“One of the questions that makes us all secretly want to run to the hills is, “Why do you want to study an MBA?”  It’s a very reasonable question, but it’s intimidating because it’s so vague and there are so many wonderful answers you could give.  While there isn’t necessarily a wrong answer to this question, there are right ways to go about answering it. You should start by talking a little about your career and experience and what led you to discovering the MBA as a qualification. Talk about your deepest motivations and why an MBA in particular appealed to you.

“The key here is context – you need to demonstrate how your own personal experiences and world view led you – as an individual – to consider an MBA. However, do remember that you’re not just applying for an MBA. You’re applying for an MBA at a particular school, and you should include your school of choice in your thinking. Don’t just talk about why you want to study an MBA; talk about why you want to study an MBA at your chosen business school.

“At its heart, the MBA admissions essay is an exercise in self-reflection. If you take the time to uncover your true motivations and articulate them in a concise, relevant and meaningful way, you’ll easily make the shortlist for your chosen school.”

How to Apply for the Sainsbury Management Fellows MBA Scholarship

If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees –the individual scholarship is £50,000 and we award ten of these every year.

How 4 professional engineers used an MBA to change their careers

The MBA is a highly desired qualification by both young professionals and employers.  Not only does an MBA equip the student with a wealth of business and leadership skills, it  shows clear signs of an individual’s focus and ambition as well as an adventurous spirit – leaving a secure job to study for an MBA requires not only funds but courage.

MBAs benefit individuals, employers, and the economy. Although it is essential to hone skills in specialist areas, businesses are keen on hiring MBA graduates because they have a deeper understanding of a range of business practices that enable them to be more strategic and agile in their thinking and problem solving.

The MBA opens new career opportunities, helps students to gain better insight into their motivations and goals, and connects them with inspiring professionals who can support their career ambitions long term.  Taking an MBA is a major financial commitment and because of their prestige, the cost of attending the top international schools is high.  Consequently many students seek scholarships to support their studies.  For over 30 years, the Sainsbury Management Fellows (SMF) scholarships have been awarded to professional engineers who have clear leadership potential.   Today, there are 365 SMFs who, collectively, have been awarded £11 million in scholarships to enable them to acquire skills that help UK businesses succeed and the economy growth.

In this blog we introduce four Sainsbury Management Fellows who have used their MBA skills and experiences to steer their careers in new and exciting directions.

Engineering a Finance Career in Green Energy:  SMF Chris Gifford, Senior Risk Consultant, Chief Credit Officer, Vancity Community Investment Bank, Canada

After gaining his engineering degree at Oxford University, SMF Chris Gifford started his fulltime career in the power generation sector. He worked throughout the UK and internationally helping to operate and maintain the control and instrumentation systems of fossil-fuelled power stations.  He progressed into a commercial role, analysing the financial performance of the power stations, which gave him a deeper understanding of business and a desire to pursue his career in a business direction.

Chris decided that he wanted to work in the cutting-edge transition from fossil-fuel to green technology in a business and finance capacity, but he realised that he needed additional business skills to secure a top-level position in a leading company.  Because of his engineering background, prospective employers tended to pigeon-hole him as a techie. Chris knew that gaining an MBA would enhance his skills and make him more marketable.  The MBA, which he undertook at INSEAD, provided not only the vital business skills needed for a career shift, but accelerated an improvement in his interpersonal and leadership skills.

Today, Chris is the Senior Risk Consultant, Chief Credit Officer at Vancity Community Investment Bank in  Ontario, Canada where he uses his combined engineering and business skills to assess the viability and robustness of complex renewable energy proposals from businesses seeking finance, eliminating the need for the bank to use external professionals to carry out additional assessments.  In addition to identifying potential problems, Chris recommends improvements and efficiencies that allow important renewable energy projects to be funded.

Chris’ engineering background is a major asset in his role.  He explained: “My engineering skills are typically applied to evaluate whether businesses trying to access financing have fully understood the complexities for themselves.  There is a bias for optimism and sometimes blind spots when it comes to risk assessment; I provide an objective and pragmatic view on how likely a project is to succeed.”

Switching from a Technical to Management Role:  SMF Dere Ogbe, Shell Corporate Strategy and Portfolio Consultant, UK

SMF Dere Ogbe was appointed Senior Strategy and Portfolio Consultant at Shell after graduating from London Business School with an SMF-sponsored MBA.   He credits his MBA for galvanising his career in this new direction and says he now has the ability to lead both technical and commercial strategy projects.

Before taking his MBA, Dere was a Senior Operations Excellence Engineer at BP Exploration. This was a technical role which involved implementing best practices to drive continuous improvement across joint ventures in Europe, Middle East, and North Africa. This involved cascading business decisions into technical requirements and this gave Dere an insight into how commercial choices drive project design and operational requirements.  This awareness, coupled with the knowledge from courses such as Managing Engineering Projects, sparked his interest in business management.

Dere sites a number of ways that the MBA has helped to transform his career: “It has given me the necessary financial, strategic, and commercial skills to quickly analyse problems and propose possible solutions. The programme also enhanced my data analytical and leadership skills. Also, I feel very comfortable leading a wider range of people with different technical and commercial expertise.  With these additional skills, I can jump into projects and get up to speed quickly.  The part of my job I especially love is the challenge of thinking on my feet, rapidly uncovering the critical factors and, with the team, creating a roadmap to solve the problem.  The MBA has had a transformative effect on my career and leadership skills.” 

Billy Comes to Life Through Engineering and Business Talent: SMF Rob Deering, CEO, Billy, Australia

Before business school, SMF Rob Deeming gained a degree in mechanical engineering at the University of Nottingham. After graduation, he spent five years as a consultant at Bain & Company where he developed practical skills such as problem-solving and collaborative working.  This role gave him the time and freedom to decide what he wanted to do longer term.  He said: “It was an incredible place to start a career. The level of learning, skills development and personal support available in consulting is second-to-none.”

Rob took his MBA at Harvard and says that it gave him both personal and professional perspective: “It opened my eyes to new career pathways, in particular, those which combined his engineering and business skills.”  Since graduating, Rob has lived in both New York and Sydney where he has built several tech-driven businesses, including three start-ups.

The most recent entrepreneurial venture is a technology company, Billy, which addresses the fundamental challenges of caring for seniors, while allowing them to remain in their own homes as independently as possible, on their own terms. Billy uses a series of Internet of Things sensors to identify patterns of behavioural routine for seniors, and shares this information through an app, in real time, with family members and professional carers. Billy can read all the activities of daily living using smart analytics to determine patterns in routine and identify changes before they result in medical emergency.

The future is exciting for both Rob and the company; Billy is growing in size and reputation and is now in 1,000 homes across Australia and the USA. Initial feedback shows that customer confidence is high and there has been a reduction in hospitalisations in the households where Billy is installed.

Winning an SMF scholarship enabled Rob to undertake his prestigious MBA, which gave him the skills to follow his entrepreneurial dreams.

Engineers with Business Skills Transform UK Industry: SMF Ian Peerless, Operations Director, ExRobotics, UK

SMF Ian Peerless and ExRobotics Colleagues

Ian Peerless’ route to an engineering career began at the University of Southampton, where he graduated with a First in Civil Engineering, after which he spent a year with British Leyland in a mechanical engineering role.  The hydrocarbon industry in the North Sea was booming and he was keen to move into that sector, so gained a Petroleum Engineering Masters at Heriot-Watt University and shortly after graduating joined Shell as a Petroleum Engineer and enjoyed an international career for five years.

However, he reached a ‘crunch point’ in his career, as is often the case with young engineers.  At this point there is a choice; to work up through the ranks of a company as a pure engineer or to diversify and move upwards in a different direction.  Ian chose the latter. His interest in business management led him to the MBA, with a scholarship from SMF to attend IMD in Switzerland.

The MBA gave Ian the credibility required to step into a management role; a role that would otherwise been out of his reach. He was one of the first engineers to benefit from the SMF scholarship programme, and proved that having engineers in management roles throughout industrial companies is extremely valuable.

After the MBA he joined British Steel, where he gained a wealth of management experience. He worked in Business Development, Sales, Operations, and finished as the number two in the Business Strategy department reporting to the main board.   After 15 years with British Steel, Ian was enticed back to Shell, where he was a key member of an internal consultancy group.  He travelled the world advising, coaching and facilitating leadership teams on project management and contract strategy.   When that project was completed, he set up an independent consultancy, IPKA where he continued to perform a similar role to the Shell position, but with different oil and gas companies.

In 2010, Ian took on a Shell contract to develop an oilfield robot. He gained extensive knowledge of this specialist robotic niche which led him to form ExRobotics, a company that is tackling the problem of oil and gas operators being sent into hazardous, harsh, and remote locations. The robots can be permanently stationed at those locations, removing people from harm’s way as well as cutting costs and reducing lost production.

Summing up the benefits of the MBA, Ian said: “The MBA gave me skills that I still use in my work. In particular, the ability to understand a business, its markets, its competitive position, and to turn that into an action plan for success.  Furthermore, the MBA made me understand that if you combine the strengths of individuals and create a motivated team, wonderful things happen. The MBA not only changed the direction of my career it also changed my industry.  The combination of my life before the MBA (technical) has been combined with my life after the MBA (management) to create ExRobotics.”

How to Apply for the Sainsbury Management Fellows MBA Scholarship

If you are a professional engineer considering an MBA as one of the stepping-stones towards a business leadership career, visit our MBA scholarship application page, you could become one of our successful awardees –the individual scholarship is £50,000 and we award ten of these every year.

What is an MBA? – by EIBF President David Falzani MBE     

Benefits of Studying for an MBA

The MBA has been around since 1908 when the Harvard Graduate School of Business Administration was established in the USA. Across the world today, the MBA is the watchword for business career success, and prospective students are spoilt for choice as to where and how they study – from the world-leading schools like Harvard and London Business School (which was the first UK business school) to virtual online schools, from full-time courses to part time study.

MBA programmes prepare professionals for senior management roles in business.  Typically, MBAs are taken by those who have already been working for several years, but that’s not always the case.  Some people go straight from their first university degree to study for an MBA degree and this is the beauty of the business school offering; there are options to suit everyone.  This includes MBAs at premium business schools, like LBS or Harvard, and, for want of a better term, ‘mainstream’ business schools.  Courses are available either full-time (30-60 hours per week) or part-time (one or two days per week) and there are Executive MBA programmes for senior corporate executives and managers who study whilst working, and sometimes their study is partially or fully funded by the employer.

Requirements to Study an MBA
To study for an MBA, you will usually require an undergraduate degree.  Most MBAs require a 2:1 or above, but there are some that will accept 2:2 degrees so long as they are paired with an exceptional application and a set of relevant skills and experiences.  Some work experience is generally required; this being the case most MBA students are between the ages of 27 and 30. One important entry criterion to meet, particularly for top schools, is the GMAT exam score. The Graduate Management Admission Test, or GMAT, is designed to test your abilities across a wide range of areas. A good score will often facilitate entry into leading schools, and each school’s GMAT averages are widely published.

Benefits of an MBA
MBAs expose students to many areas of business including accounting, finance, marketing, people management and leadership skills, and full-time courses do so in an intensive, immersive way that challenges and stretches students’ perspectives and thinking.  The MBA experience often pushes candidates hard – the speed and sheer amount of work faced is sometimes described as a re-wiring of candidates’ brains, such that they can think critically and quickly analyse information, filtering out what is important from the irrelevant. The skills taught in an MBA programme enable you to read, assess, structure and plan rapidly; skills that will enable you to find innovative ways of dealing with big problems.  An MBA graduate also gains an up to date and razor-sharp ‘tool kit’ to apply to any business challenge. These aspects are some of the reasons why the MBA has become so highly regarded by employers.

People from all walks of life want to gain an MBA qualification in order to improve their understanding of business and to accelerate their career.  Developing your business skills is not only good for your personal and career growth, but it is also good for companies and organisations and essential for the economy – enhanced knowledge and skills leads to better solutions to problems which can increase productivity, as well as transform products and services that affect people’s lives.

If you are at that pivotal point in your career where you want to learn more about business and the decision-making processes, it’s important to know that as valuable as the MBA is, the programme is not a final destination, it’s very much the start of a longer journey.  In an MBA you will be introduced to many facets of business and gain a foundation that enables you to confidently delve deeper into areas of interest across a range of subjects as you need to.  Because of this solid framework, when you are back in the world of work, it will be easier to go deeper into subjects that are needed in your job. You will be able to understand business issues and explore them at a level you were unable to do before your MBA.

A Wealth of Choice of Business Schools
Every year thousands of professionals start their search for the right business school for them.  At the top of the MBA tree are the premium schools – these are equivalent to Ivy League ranked universities, which often have long histories, coveted brands, outstanding facilities and attract the best staff and candidates.  The institution’s brand, the quality of faculty and quality of student admissions are all perpetuated by each other, creating an institution designed to offer the very best environment for business education.

Gaining a qualification from a top international business school will open new opportunities.  However, their prestige and resources mean they command high fees – some can be as much as 10 times more expensive than mainstream business schools.  On the upside, their brands add considerable value to the graduates’ own personal brand, giving them an additional asset when they go back into the job market.

There is fierce competition to secure a place at the top business schools – because their brands are so revered.  Unsurprisingly, these schools are often 7 to 10 times over-subscribed for places, so getting-in requires some real work.  Candidates must be very driven and highly organised to maximise their chances. Having access to the necessary funds also helps – some will seek assistance with fees by applying for a scholarship (eg through charities) to supplement their private financing arrangements.  Many candidates have a risk profile that allows them to take on loans, confident that their future income growth will resolve any debt soon afterwards.

There are many fantastic mainstream business schools that do not cost the earth.  More and more, universities are developing high-quality MBA programmes.  Excellent business education is on offer but, being newer into the MBA market, these do not have the same historical pedigree and reputation enjoyed by their premium counterparts.

While those who attend the mainstream business schools may not come away with quite such a prestigious brand to append to their own, they receive a rounded business education (perhaps with less of the heightened level of induced stress that the premium schools engender into their programmes) and can use their new skills to further their career goals.

The Enduring Power of the Alumni
Apart from the new skills propelling your career prospects and salary (it’s not uncommon for business school graduates to double their pre-MBA salary), there is a huge ‘hidden’ benefit.  During the MBA, students develop a network of peers that become long-term associates and lifelong friends.  The business school Alumni is a powerful asset – because of their shared experience, members will reach out to each other when they need help or advice at any stage in their business career, whether that’s as a senior-level employee or as an entrepreneur.

MBA – A Cause for Celebration!
The tremendous success of the MBA is a cause for celebration: the diversity of schools (some offering campuses in several countries as part of the curriculum), programmes and study timetables allow many people to attain business education in a way that suits their ambitions and circumstances.  The timescale over which one can study an MBA has transformed access – there are full-time courses that run from nine to 21 months depending on the school, and part-time learning up to five years. Schools can be physical or virtual.  And, there are prices to fit almost all budgets.

It’s come a long way since its origins in 1908, adapting and evolving to meet the market needs. Accessible, flexible and current – today’s MBA is a truly wonderful platform to boost business education.

If you are an engineer considering an MBA, visit or scholarship page for details on how to apply for a £50,000 award.

 

A Decade of Achievements for EIBF

As we say goodbye to 2019 and welcome a new decade, we reflect on some of our milestones.  We would like to thank our Patron, Lord Sainsbury of Turville and his Gatsby Charitable Foundation, our Sainsbury Management Fellows, partners and associates, who have helped us achieve so much in the last 10 years.

2009/10: Published Re-engineering the Board to Manage Risk and Maximise Growth, promoting multi-skilled engineers as business leaders.

2011: The Sainsbury Management Fellowship becomes incorporated and a company limited by guarantee.  The legal name becomes Engineers in Business Fellowship.

2012: Engineers in Business Fellowship becomes a registered charity.

2013: Executive Fundraising Committee is formed and plans to raise an initial target of  £5 million.

2014: Launch of Engineers in Business Competition Prize Fund for university enterprise education.

2015:  Published Engineering New Horizons, promoting the exciting careers of 25  Sainsbury Management Fellows.

2016: EIBF and the Royal Academy of Engineering launch promotions to increase the diversity of SMF applicants.

2017: EIBF President David Falzani receives the MBE for services to the engineering industry.

2017: SMF Fundraising campaign raises £2.1m to help sustain the MBA scholarship scheme.

2017: SMFs’ 30 Years Anniversary commemorated with the launch of Mentor30Engineers university competition.

 2018: Our MBA scholarship is raised from £30,000 to £50,000 and applications extended to computer sciences and tech engineers.

2018:  Engineers in Business Competition expands support for university enterprise education from four to 32 universities – £135,000 awarded already, with a £700,000 pot available.

2019: EIBF President David Falzani MBE appointed Professor of Practice in Sustainable Wealth Creation at the University Nottingham.

2019: Our Hard Hat Index reveals a dramatic 37% fall in the publication of hard hats in the engineering media.

2019: Over £9 million in Sainsbury Management Fellows MBA scholarships awarded to talented young engineers to study at the top international business schools

 2019: Our first Engineers in Business Champion of Champions Grand final sees 10 university teams compete for £10,000 in prizes with innovations in surfing, prosthetics for children, medical cell counting services and personal safety devices coming out on top.

It’s been a very fruitful and rewarding 10 years –  here’s to the next 10 years!

If you have any questions about Sainsbury Management Fellows scholarship, please get in touch.

 

Why Do Companies Prefer MBA Graduates?


In a business landscape that is becoming ever more complex and difficult to navigate, a company’s ability to hire assets is important. Although candidates with business degrees are becoming more and more common, the need for experience and specific training at a higher level is becoming very desirable.

If you are looking to climb the ladder, or indeed to become an integral asset within your given sector, then you might be considering the idea of an MBA. As you may know, the MBA is no small undertaking; it requires time, funding and energy. So, here’s the question; is it worth it?

Arguably, the answer is yes. Having MBA written next to your name on your CV is a huge advantage. That is not to say that having this qualification makes you a shoo-in, as companies are also more and more interested in the type of person you are; your attitude, ethics and personality. Having said that, to succeed in the quest for an MBA qualification, dedication and resilience are required.

Let’s look at what employers like about MBA graduates, what you stand to learn by undertaking one, and which desirable specialities you may want to develop.

Critical Thinking and Creative Problem Solving
The advantage of being a ‘box-fresh’ graduate of any high-level qualification is how up to date their references are, and a fresh perspective on the issues surrounding their industry or subject. Two of the key skills taught by most MBAs are both critical and strategic thinking. Throughout your training, you will have come up against various simulated scenarios, some common and some rare, ensuring that your ability to think in this way is limber and informed.

This is also true with the skill of creative problem-solving. Fresh MBA graduates are drilled in solving new and uncommon problems and are extremely aware of what is going on in their industry right now. When you have been in a business with a certain focus for some time, it can be difficult to see how to deal with issues that are far removed from the original remit of said business.

Financial Training
The MBA will equip you with a comprehensive knowledge of the intricacies of the financial sector; how it works, how to operate within it and how it relates to the wider business community. This is essential knowledge. In order to take calculated risks, an excellent understanding of finance is not only desired but required. It is an essential component of a business’ success.

Leadership and Communication Skills
Leadership and decision-making skills come naturally to some, but to be truly effective in leadership, training and refinement is required. Mid-level leadership is hard to be good at; it takes balance, patience and respect for a company’s values. This is also something that MBA graduates are great at. Even if leadership is not a specific focused skill in their training, the very nature of group projects, partners and general teamwork requires one to better their leadership and communication skills.

Marketing
We live in a world where marketing is more important and more complex than ever. The market is getting ever more crowded, the platforms we market on are growing and branching off, and marketing techniques are becoming more specific. Having a solid foundation in modern marketing is essential, and something that you are guaranteed to gain by gaining an MBA degree.

Collaboration
Collaboration is tricky. In order to collaborate effectively, you need to be able to hold on to and believe in your own values, but also be able to compromise for the good of the collective cause. It requires a lack of ego, equal respect for others and a light touch. Again, an MBA, by its very nature, fosters this skill naturally. Collaboration is a skill that is often underrated or forgotten, but one that is vital to the smooth running of a business and to make wise decisions.

Organisational Behaviours
You’d be surprised how hard it is to find employees with excellent organisational skills. This is perhaps down to the preconception that organisational nous is something you either do or do not have. However, this is not so, it can absolutely be taught; it is a skill that can be acquired and nurtured. An MBA fosters essential skills such as this to optimise both the quality and the efficiency of your work. This is another thing that employers find extremely attractive.

The MBA is as valuable for equipping you with technical skills and knowledge as it is for helping the individual become a good team player. The skills and behaviours covered above are just a handful of the assets acquired through the study of an MBA.

Gaining an MBA is worth the considerable financial investment because it opens new career opportunities, boosts your employability, significantly increases earning capacity and allows you to develop an international network of contacts that you can call on for years to come. As well as your management skills being a draw for global employers and exciting start-ups, employers will also be impressed by candidates’ ability to build and maintain influential networks.

If you are a professional ing engineer seeking a scholarship to assist with your MBA study, visit the applications page.

What to Expect in the First Week of Your MBA Course

Starting a new MBA course can be a daunting prospect.  Most courses appreciate this and begin with an orientation week so that students can find their feet and prepare to get the most out of their course. Writing for the Financial Times, former MBA student Mehul Ruparelia recalls her first week:

“After the first weekend, we had orientation week, also popularly known as disorientation week. This was a week organised and run by alumni from the outgoing class, full of parties, team-building activities, organised sports, treasure hunts, presentations and more parties. The aim of orientation week was to let people get to know each other and to become more familiar with the campus and the surroundings. Orientation week culminated in a talent night where groups got to showcase their collective and individual talents in front of other students, faculty and alumni.”

Evaluation and preparation
Your first week of an MBA course is your chance to evaluate what your strengths and weaknesses are, and what you hope to achieve through study. The course itself, regardless of which institution you attend, is often described as a ‘sprint’, requiring an enormous amount of work. This first week is a chance to really reflect on what you need to improve in order to succeed.

You cannot achieve a goal without knowing what it is. That means your first week should also include time spent identifying what your life goals are, and what you require in order to reach them. Where should the focus of your study be? Who do you need to meet in order to learn what you need to know? These are the questions you need to be asking yourself because it will be difficult to take a step back and be objective once the course really gets up and running.

Meeting and networking
In the first week of your MBA, you are likely to meet many of the students you will be learning alongside, most of whom come from varied backgrounds and have different levels of experience. Many MBA students find that their fellow classmates are almost as interesting and useful as the course itself, so it is important to use the first week to try and get to know them. Think about what you are offering, too. What are you bringing to the table? Dig deep.

Don’t hold back
The first week on many MBA courses is about pushing boundaries. Students who learn to break the mould are much more likely to succeed in the world of business, which is why courses often include leadership courses and seminars alongside imaginative team-building exercises. There might be some trepidation at first, particularly with regard to the more physical challenges, but it is a great idea to ignore any jitters and fully take part in all the activities that interest you. It will also make it easier to learn other students’ names, something that will come in handy over the course.

Your first week on an MBA course will set the tone for the rest of your time studying. It’s vital to get things off on the right foot.

An SMF MBA Scholarship Awardee says…
In 2017, Kofoworola Agbaje (MEng, Imperial College London) was awarded a £30,000 SMF Scholarship to study for an MBA at Wharton business school.  Asked about her first impression of business school, she said: “I’m surrounded by amazing people and amazing opportunities. I have classmates that have climbed the highest peaks in the world, visited over 60 countries, speak five languages, worked in the FBI, started multiple businesses, sold their start-ups etc. The course is very extensive, a lot more work than I expected but the classes are very interactive and I get to learn from both my professors and other students. There is so much to do and a lot of activities to get involved in, I have joined seven student-run clubs and every day feels like a stretch experience.   I’m loving the experience and taking it one step at a time.”

Read more about the SMF scholarship winners’ first impressions of their business school:
Will an MBA really make a difference to my career? Part 1
Will an MBA really make a difference to my career? Part2
USA or Europe – where to study for your MBA?
Searching for the right post-MBA job
Reflections on the start of my MBA journey

Learn more about the SMF MBA Scholarship.

Photo:  Grace Madeline on Unsplash

MBA Scholarship Awardees Share their Experiences

£300,000 of SMF Scholarship Awards Help 10 Talented Engineers Attend Top Business Schools

Wharton, INSEAD, Kellogg, Stanford and LBS are welcoming 10 awardees of the Sainsbury Management Fellows MBA scholarship.

The awardees each received £30,000 towards their study costs.  They are Kofoworola Agbaje who chose Wharton; Nicholas Asselin-Miller, Qiang Fu and Andrew Glykys are attending INSEAD; Mukunth Kovaichelvan is studying at Kellogg; Imogen Rye is at Stanford, and the other four awardees – Benjamin Banks, James Diaz-Sokoloff, Matthew Dixon and David MacGeehan – all chose to study at London Business School.

The SMF Scholarship scheme is run by Engineers in Business Fellowship (EIBF) which helps young engineers fulfil their aspirations to become business leaders by supporting them financially in gaining business skills including leadership, strategic thinking, marketing, economics and finance.

The value of Sainsbury Management Fellows awarded now totals £9 million.  During this time the scholarship has helped over 300 engineers forge outstanding careers in diverse areas including the corporate sector, social enterprise, charity, healthcare and education.

The success of the scholarship scheme is measured not only in terms of the career achievements of the SMFs but in their contribution to society.  For example, 153 SMFs have founded or co-founded businesses valued at £4.6 billion, creating 18,000 jobs; 265 SMFs support and mentor young engineers, helping them with career or entrepreneurial goals and 122 SMFs are actively involved with charitable organisations.  Several SMFs teach business and innovation as visiting professors at universities, including the EIBF President, David Falzani.

After graduation, the scholarship awardees become Sainsbury Management Fellows and become SMF Alumni.  Many say that the Alumni is, perhaps, the most rewarding part of winning a scholarship, because of the lifelong support. The Fellows benefit from ongoing career and entrepreneurship mentoring which can often lead to important collaborations and high-level networking via SMF, the Royal Academy of Engineering and other leading institutions.

Commenting on the purpose of the SMF Scholarship David Falzani said, “The world is changing at an unprecedented rate, creating new challenges for UK businesses, these include globalisation, cross-culturalism, the rise of the Asian markets and flux in international politics, the economy, technology and environmentalism.  The need for multi-skilled engineers is actually increasing.  The SMF scholarship expands the pool of business-minded engineers available to employers.  The more SMFs we nurture, the more they can help boards make sound strategic decisions and deal with the challenges arising from new paradigm shifts.”

New Applications Invited
The SMF scholarship is open to engineers with the potential to gain leadership roles early in their careers, who have a clear vision for their MBA study and career aspirations.  Candidates submit a written application and shortlisted candidates undergo a panel interview with members of the Royal Academy of Engineering and Sainsbury Management Fellows.    Find out more about making an application.

To learn directly from 8 of the successful awardees, click the grey panels on the right and read their Q&As.