MBA News Roundup: Conquering Quant Fears, Annual Wharton Venture Award, and Reinventing Management

May 11th, 2011

Welcome to another installment of Knewton’s MBA News Round-up! This week, check out articles on conquering quant fears, the annual Wharton Venture Award, “soft” skills in business school, and Fortune 100 CEOs when they were MBA students.

1. Conquering the Fear of Quant

“Artsy” and non-traditional applicants should check out this personal essay about meeting one’s quant fears head-on in b-school.

2. Rejecting Wall Street, MBAs turn to Entrepreneurship

Graduates from the HBS class of 2010 started 30 to 40 businesses last year, a 50 percent increase from 2009. Check out this analysis of the trend.

3. Winners of the annual Wharton Venture Award

Last week, we took a look at the winners of the HBS Business Plan Contest. This week, check out winners of the annual Wharton Venture Award.

4. MBAs Aim to Reinvent Management

Are “hackathons” about to become the next big thing in management? (Here are Knewton, we love “hack” day…)

5. Soft Skills and “Feelings” in Business School

New courses in business school are teaching students how to be great leaders and managers on top of great number crunchers.

6. Fortune 100 CEOs When They Were MBA Students

What were Jeff Immelt (CEO of GE), Jamie Dimon (CEO of J.P Morgan), and others like as MBA students? Just as anxious, “overwhelmed,” and “broke” as students today.

5 Free Online Resources for Writing Lessons

May 11th, 2011

Are you a K-12 teacher looking for ways to increase engagement and incorporate technology into your writing lessons? Check out these 5 fun, easy ideas!

1. bubbl.us

As any writer knows, brainstorming is a key part of the writing process. For young writers in particular, visually mapping out ideas can help them understand their own thought processes and the best way in which to structure and connect their points. bubbl.us is a free, easy to use brainstorming tool that allows users to embed your final product in a website or blog. Students can brainstorm independently or collectively with bubbl.us, and use it while planning out essays, presentations, creative writing stories, or history papers.

2. Wikispaces for Educators

Wikis — web sites that can created or edited by any user — have a number of classroom applications. Wikispaces, a popular provider of wikis, gives away “Plus” wiki accounts to any educator, and also has a number of awesome ideas about how to use wikis in the classroom. Check out this tutorial for ideas on how to use wikis to teach writing and many other subjects. A few ideas? Create a collaborative story, using new vocab words, or use the wiki to host an online writers’ workshop with comments and critiques added by other students. Wikis are perfect for any activity that emphasizes knowledge sharing and collaborative work.

3. Mixed Ink

Mixed Ink bills itself as a wiki, but better. The free platform does have some awesome features and allows teachers to make writing assignments collaborative and social. Mixed Ink automatically tracks authorship — each students’ individual work will be color-coded to ensure that proper credit is given. Like wikis, Mixed Ink is a great option for collaborative writing projects and for supporting skills in critical reading, writing, and analysis.

4. Blogs

Free sites like WordPress, Blogger, and Edublogs make creating student or class blogs easy to create. Allowing students to showcase their work on a blog is a great way to encourage them to take ownership of their work, and develop a sense of pride in their writing. You can post creative writing prompts on a classroom blog, or create a blog solely for your students to write book reviews. You could even create a literary magazine on your classroom blog. Blogs are a great way to encourage students to read and comment on their classmates’ work, and/or to share their work with their parents, friends, and family .  For more ideas, check out our 7 Step Plan for using Blogs in English Classes.

5. Read Write Think’s Classroom Resources

ReadWriteThink has a wide variety of classroom resources that can be used to help support writing lessons. Check out tools like:

 

LSAT Admissions Tip: Thinking About Financing

May 11th, 2011

This post comes to us from our friends at Clear Admit. For more expert admissions advice, check out their blog.

Though many law school applicants know exactly what they want to do – and how much they hope to make – after they earn a JD, a surprising number apply to school without thinking about how they’ll pay for this expensive degree. While some students do foot the entire bill themselves or receive scholarship support from the school or an outside institution, the vast majority of law students borrow funds to cover their tuition and living expenses. With this in mind, we wanted to cover some very basic information on loans for the benefit of both recent admits and applicants for Fall 2011.

The primary source of funding for U.S.-based applicants will be federal loans or alternative education loans. The main federal loans, available to U.S. citizens or permanent residents, are the Federal Stafford Loan (subsidized or unsubsidized), the Federal Perkins Loan and the GradPLUS Loan. Full-time students can borrow as much as $20,500/year through the Federal Stafford loan program. Perkins Loans are low-interest (5 percent) loans with a maximum annual loan amount of $8,000/year for graduate students. The Grad PLUS Loan can be used to pay for the total cost of education less minus aid you’ve already been awarded. Those interested in applying for federal student aid should check out the Free Application for Federal Student Aid (FAFSA). When federal loans are not enough, private loans can help bridge the gap in education costs. Students might contact their local bank or look into lender programs, such as SallieMae, Access Group or GradLoans, for details on borrowing eligibility.

International students are not eligible for federal loans, but may consider private loans as a financing option. The International Student Loan Program (ISLP), for instance, offers a credit-based loan to international students who are looking to finance their education in the U.S. However, as with most private loans, this loan requires a U.S. citizen or permanent resident to co-sign. International students can also visit International Education Financial Aid (IEFA) to search for funds (as can U.S. citizens planning on studying overseas).

Many need-based loans are classified as subsidized, meaning that interest does not accrue while the borrower is enrolled in a degree program (whereas interest begins to accrue immediately on unsubsidized loans). Typical timelines of loan repayment can extend from 5 to 30 years, depending on the lender’s conditions of deferral and the amount of funds borrowed. After graduation, students usually have a 6-month grace period before monthly repayment begins. While schools’ admittance packages usually include detailed information about financing the J.D. degree, incoming students and applicants should not hesitate contact the school’s financial aid office for further information on available need- or credit-based loans.

In addition, most law schools offer loan forgiveness or repayment programs for graduates entering public service or otherwise low-paying law-related work.  For law school applicants and students interested in public interest careers, checking out individual law schools’ loan forgiveness programs is another good way to determine how one can finance the cost of their J.D. degree.

Free Webinar: Preparing for Summer College Visits

May 11th, 2011

Summer is the best time to visit colleges. But many students and parents don’t know how to approach this first critical part of the college admissions process. What should you do? What should you definitely not do? How does interviewing work?

Here’s the thing: effective, smart visits can help you narrow down your college list, make better decisions about where and when to apply and ultimately get you (or your child) admitted to the right schools.

Join Stephen Friedfeld, Ph.D., the co-founder of EqualApp and former admissions officer at Cornell and Princeton as he answers your questions and reveals inside tips on making the most of your college visits. This free webinar, co-sponsored by Knewton, will take place on Tuesday, May 17 at 8 pm EDT.

Space is limited – so be sure to reserve your spot today!

Sign up now ›

MBA Admissions Tip: Round 3 Results

May 11th, 2011

This post comes to us from our friends at Clear Admit. For more expert admissions advice, check out their blog.

With the MBA programs releasing their Round 3 notifications in the upcoming weeks, the 2010-2011 admissions season is coming to a close for the vast majority of MBA aspirants. We’d like to offer our congratulations to all those who have gained admission to one of more of their target schools, and wish good luck to waitlisted applicants whose fate is presently a bit less certain. For all those who submitted their applications in the final round and received an unfavorable decision, we’d like to share a few tips that we hope will make the process of facing rejection as productive as possible:

1) Understand the odds and consider reapplying in the early rounds next year. If you failed to gain admission to a school in its final application round, you should not give up hope or instantly assume that your profile contains some glaring weakness that will forever bar you from acceptance. Because relatively few spots in the incoming class are available by the time of the Round 3 deadlines, it is always most difficult to get into a school at this point in the year. In many cases, an earlier application is all that you need to find success in the process.

2) Get feedback from the admissions committee. As we commented in a recent post, some of the top programs allow unsuccessful applicants to sign up for a feedback session with an admissions officer (sessions typically take place over the summer). This is a unique chance for you to learn how the committee perceived your application. Keep in mind that your audience with the adcom will be brief – try to approach the meeting with pointed questions about your candidacy in order to ensure that the feedback session is as productive and informative as possible.

3) Get feedback from other sources. Although a number of schools do not offer feedback, there are other ways to learn about where you may have fallen short. To start, you should read over your file with a critical eye and try to identify and understand your weaknesses. Take a step back from the process and be objective about your shortcomings. You might also share your file with colleagues who have been to business school. While this can be enlightening, you should also be careful about the feedback you collect on these fronts, since not all of it will be accurate (or consistent). Finally, you might seek feedback from an MBA admissions consulting firm. Clear Admit offers complete feedback sessions, including detailed written reports that provide an individualized road-map for reapplication.

4) Plan for a productive summer. Although it’s tempting to simply take a break from the admissions process after receiving a rejection letter, it is imperative that reapplicants use the summer months to address the weaknesses in their profiles. In many cases, reapplicants need to pursue outside coursework, retake a standardized test (GMAT/TOEFL), increase involvement with outside activities or take on new responsibilities at work. All of these tasks take time and cannot be addressed in the fall when application forms and essays should be the priority. By being proactive about improving your candidacy now, you will put yourself in a much better position to apply next year.

Student Spotlight — Victoria Markewitz: Aspiring Consultant with a 710 GMAT Score

May 10th, 2011

In this Student Spotlight, meet Victoria Markewitz, an undergrad business major from Germany. Victoria managed to raise her GMAT score a whopping 120 points from her first to second try — and now she’s off to get her Masters of Science in Management.

Name:

Victoria Markewitz

Hometown:

Bendorf, Germany

Hometown in the US: Manahawkin, NJ (exchange 2005/06)

Current job:

Student in the Bachelors degree at WHU – Otto Beisheim School of Management.

During the course of my studies I’ve undertaken several internships with a financial service provider in Germany, Kühne+Nagel on Mauritius, T-Mobile in Germany and a consultancy in Germany.

Why do you want to get an MBA/MIM?

As I’m only 21 years old, I really want to continue studying, because I just love being a student. Additionally, I believe that many clients would not really treat a 21-year old female consultant with only an undergraduate degree seriously. This is why I decided to pursue a Master of Science in Management.

What’s your dream job after b-school?

Consultant

Can you tell us about your experience prepping for the GMAT? How long did you take, how did you structure your study, what did you find most challenging, etc? Feel free to go into as much detail as you’d like!

I started studying for the GMAT as early as September to take the exam in January. I made the great mistake of only practicing, practicing and practicing as many GMAT questions I could possibly find out there, without paying any interest to concepts, strategies, etc. This resulted in the extremely disappointing score of 590. At that point I realized that something needs to change!

Therefore I signed up for the Knewton class in order to change my learning habits. I scheduled my next exam 2.5 months later which would give me just enough time to go through the Knewton schedule and have some time off as a “buffer” in case I might have to postpone some sessions due to classwork, etc. and still have some time to go through the mba.com tests as final preparation. From that point onwards I followed the class syllabus. In the beginning, I was a little disappointed and frustrated on how little progress I was making, which was reflected not only by the homework, but also by the GMAT prep test scores. However, I knew that I could score higher than 590 and just have to focus on my studies.

When I finished the last class, my progress bars weren’t that convincing. However, all of a sudden my test scores went up from 550 (diagnostic test) up to 700 (last CAT) which was extremely relieving, that finally all the work will pay off for once. I didn’t really feel that the courseload was too much – just the right amount of time you should spend on your preparation. I actually preferred the on-demand videos over the live sessions, as the on-demand videos gave me the opportunity to listen to the videos at any time, rather than from 8pm-11pm (German time).

Overall – I found that Jess was the best instructor you could possibly have to teach presumably boring math skills – my 11 points raw score increase can be accounted to great parts to her great teaching abilities! At the actual test I felt really confident, as I could apply many of the concepts I’ve learned at Knewton. Especially, when I had to guess on some questions – I just loved the “guessing” lecture! In the end, Knewton built up my strength (verbal), but extremely improved my math skills, which were better than my verbal skills at the end – something I’ve never even considered being possible!

Any Knewton teacher shout-outs?

Jess!

Lightning Round: Favorite song right now?

Hello! – Martin Solveig feat. Dragonette

Data Sufficiency or Sentence Correction?

Really interesting: in the beginning of my studies it would have been SC, because I always got so confused by DS. However, due to Knewton’s teaching skills I really learned how to tackle these problems. Now with my scores I would answer the question DS>SC.

Bill Gates or Steve Jobs?

Steve Jobs

Harry Potter or Twilight?

Twilight

The Chronicle of Higher Ed: Adaptive Learning "Gives Students More Control"

May 9th, 2011

Photo © Chronicle of Higher Education

In an article released today titled “The Rise of Learning Machines,” The Chronicle of Higher Education profiles Knewton’s partnership with Arizona State University. (This fall, Knewton’s Adaptive Learning Platform™ will power ASU Online’s College Algebra and College Math courses).

The article discusses some key features of Knewton’s Adaptive Learning Platform™ (“programs like Knewton can pace an entire math course using sophisticated tracking of skill development, instant feedback, and help levels based on mastery of concepts”), and calls attention to the underlying problems we’re working hard to address.

As Josh Fischman, the article’s author, writes:

The approach [adaptive learning] is attractive because of some unattractive numbers. Just 22 percent of students in the United States complete an associate degree within three years of starting, and only 57 percent complete a bachelor’s degree within six years, according to the Education Department. Such statistics, along with the large numbers of students who need remedial courses and drop out, drive the appeal of software that offers individualized attention to get students through basic math and other courses that are essential to college success. “These are high-risk, low-socioeconomic-status students—exactly the kind we have to reach out to,” says Mr. Regier [dean of ASU online].

Read more about the advantages of and questions remaining about adaptive learning (along with the response of ASU students and professors to Knewton’s course interface) here, and let us know your reactions in the comments!

10 Ways to Overcome GMAT Test Anxiety

May 9th, 2011

Many students struggle with test anxiety at some point in their lives. Whether you’re paralyzed by anxiety before an important exam, or just have a few butterflies, here are 10 tips to put your mind at ease before you set foot in the test center.

1. Don’t put too much pressure on yourself.

This one is key. Yes, you should study hard for the GMAT, and yes, the GMAT is a very important component of your MBA application — but your GMAT score will not determine your future happiness or career success. If you don’t do as well as expected on the test the first time around, you can always take it again. And though the GMAT certainly plays a significant role in admissions decisions, officers also weigh other factors such as your work experience, GPA, extracurricular activities, and leadership experience. You should certainly try your best on the test — but don’t set the bar at 800! Test anxiety often affects perfectionists and people who associate their self-worth with their performance on exams and in school. Remember: your GMAT score does not, and will not ever, define you!

2. Establish smart study habits in the months before the test.

Being disorganized in your study habits or cramming before the test will only heighten your GMAT test anxiety. Whether you’re taking a GMAT prep course or self-studying, establish a schedule ahead of time. Your plan should be realistic and take into account your existing commitments. If you’re a morning person and you’re working a full-time job, try to get in an hour or two of studying before work. If you really can’t fit in any study time during the week, be sure to set aside a chunk of time each weekend for GMAT prep. The number of weeks, or months, you set aside for studying will depend on how many hours a week you can spare. Be sure that you’re studying efficiently. Focus primarily on your weaknesses (while maintaining your strengths) to maximize score gains.

3. Make sure you’re as prepared as possible.

If you know that you’ve put your all into your GMAT prep, you’ll have much less to worry about. You’ll be aware of your individual strengths and weaknesses and have strategies for making the most of your limited time and attacking specific types of questions on the Quant and Verbal sections. You’ll also have built up your test-taking endurance, so that test day won’t feel like a completely foreign experience.

4. Know exactly what to expect.

This tip comes to us from one of our GMAT prep students who struggled with test anxiety. Her strategy to overcome it? She watched this video, which provides a tour of a GMAT test center, many times before test day. By the 80th time or so, she says, her heart had finally stopped pounding and she felt ready to conquer the GMAT. (By the way: she ended up scoring a 720!) Familiarity is often associated with comfort — so watch this video, talk to people who have taken the GMAT at your test center, and be sure that you’ve taken plenty of full-length CATs before you embark upon the real thing.

5. Treat your body as an extension of your mind.

In the months before the test, make a concerted effort to eat well and get plenty of exercise and sleep. The healthier you are, the better you’ll feel on test day. Exercise in particular can be a great stress reliever. Try yoga or meditation if you’re looking to clear your mind.

6. Try the “Thought-Stopping Technique.”

Test anxiety can stem from a feeling that you have lost control; this strategy helps sufferers overcome their panic. If you find yourself obsessed with negative thoughts, silently shout to yourself, “Don’t think about that!” or just “Stop!” Once you’ve silently shouted, relax your muscles, take a deep breath, and repeat a positive statement inside your head (“you can do this,” “this will not make or break my life,” “you are prepared for this,” etc.) You can employ this strategy on test day or whenever you start feeling anxious.

7. Relax the night before the test.

In fact, you should make a concerted effort to relax the whole week leading up to the test. Don’t be tempted to cram in these last few days. It’s unlikely you’ll learn anything substantial and you’re almost certain to make yourself nervous. The night before the big day, be sure to get plenty of sleep and do something to put your mind at ease, whether that’s cooking dinner for yourself, going for a run, or watching a movie with friends.

8. Be sure you have everything you need ahead of time.

Compile everything you’ll need for test day a few days ahead of time. Here’s a list of what to bring to the test center from mba.com (it also includes information about what’s not allowed). Print out directions to the test site and, if it makes you feel better, visit the center in person to see how long it takes you to get there. You can even pick out your outfit ahead of time — try to choose something comfortable and dress in layers in case it’s hotter or colder than you anticipated. Buy any snacks for the designated breaks, and put them in your bag too. The more prepared you are, the less you’ll have to be anxious about.

9. Be positive.

If you’re driving to the test center and find yourself fixating on failure, make an effort to think positive thoughts. Remind yourself that you don’t have to be perfect, and that you’ve adequately prepared. Tell yourself that everything will be fine, and that four hours will not make or break your life. It may seem silly, but talk to yourself aloud. Say things like, “I’m going to feel calm now. I’m going to try my best. Everything will be fine.”

10. Employ relaxation techniques during the test.

If you’re in the middle of the testing center and anxiety strikes, take a couple of deep breaths and tense and relax your muscles. Close your eyes for a moment. If you’re still feeling nervous, here are a few unobtrusive relaxation methods (source):

Tensing and Relaxing Method:

  • Put your feet on the floor.
  • Grab underneath your chair with your hands.
  • Push down with your feet while pulling up on your chair. Do this for approximately five seconds.
  • Relax your body for another five seconds.
  • Repeat 2-3 times.

The Deep Breathing Method

  • Sit straight in your chair.
  • Inhale deeply through your nose.
  • Fill the lower section of your lungs with air, then work up the upper part of your lungs.
  • Hold your breathe.
  • Exhale slowly through your mouth.
  • Repeat.

 

Introducing Knewton’s 2011 Turing Fellows

May 9th, 2011

Summer is a great time at Knewton, and not only because of the weather. One of the best parts of the season is the arrival of our annual crop of summer interns.

This year, we’ve been lucky enough to snag two NYC Turing Fellows. (There are 18 total Turing Fellows, selected from a whopping 750+ applicants from undergrad, masters and PhD. programs. The fellowships are awarded annually to top computer science, engineering and mathematics students for paid summer internships with leading NYC startups.)

We asked each of our incoming interns to share a few fun facts about themselves. First up, Brandon Liu. Brandon is finishing up his freshman year as a Computer Science major at Harvard.

Why you were interested in working at Knewton?

I love entrepreneurship because it gives me the opportunity to utilize my skills and build something that will have an impact on society. Nowhere else am I able to find the triple intersection between passion, skills, and impact. Entrepreneurship is ridiculously exciting and fun as well! I’m excited to hang out in NYC this summer, not only to explore an incredible city, but also to get to know the burgeoning startup community known as Silicon Alley. And in particular, I’m excited to work at Knewton because I believe they’re truly leaders in disruptive innovation, and I believe that they are on track to revolutionize educational systems around the world.

Any hobbies, interests, or talents?

I really enjoy playing piano! (Hopefully I’ll get a chance to visit the Steinway factory in NYC this summer). I also have immense respect for Tony Robbins, his philosophy, and all the work that he has done.

Our other Turing Fellow intern is Lakshman Sankar, a Computer Science and Physics major in MIT’s Class of 2011.

Why you were interested in working for Knewton?

As a computer scientist studying machine learning/data mining, one of the problems I hope to solve is the lack of data use/management within our nation’s education systems.  The number of student data points that aren’t even considered is appalling, and especially in the case of personalizing education, this data could be tremendously useful.  Currently, I am working on building adaptive learning systems to solve this problem with a friend (stay tuned!).  Knewton has a very good platform for such systems and I feel that the experience I will gain from this summer at Knewton will be invaluable!

Any hobbies, interests, or talents we should know about?

Outside of my interests in education and academics, I am an avid breakdancer and am the outgoing President of the breakdance club at MIT.  I am also involved with the Boston hip-hop dance scene and have played a part in the organization of events in the area.  As my primary de-stresser, dance has been a very big part of my life at MIT!

EdTech News Roundup: New Blended Learning Models, Online Learning and the Higher Ed Bubble, and Cybersecurity Concerns

May 7th, 2011

In this week’s EdTech News Roundup, check out articles about new models of blended learning, how online education could prevent the higher ed bubble from bursting, and cybersecurity concerns.

1. Report: 6 Blended Learning Models Emerge

A white paper released this week by Innosight Institute sheds light on six emerging models for blended learning in K-12 education. Read more in this article from THE Journal.

2. A College Unfriends Its Social Networking President

John Maeda, president of the Rhode Island School of Design, tried to establish an open presidency using social media strategies, but recently, a huge majority of RISD faculty voted “no confidence” in his leadership. Read why in this article from The Chronicle of Higher Education.

3. How Online Education Could Stop the Higher Ed Bubble from Bursting

Could online courses prevent the higher ed bubble from bursting? Read more in this article from eCampusNews.

4. ‘Bring Your Own Device’ Catching On In Schools

Many students now own their own mobile devices — a fact schools are taking advantage of by incorporating those devices into school lessons. Read more about the advantages and pitfalls of such strategies in this article from eSchoolNews.

5. Apple Co-founder Wozniak: Computers Can Teach Kids

Wozniak says that technology is getting to the point where computers could be more like a friend than a textbook. Read more in this article on Yahoo! News.

6. Amazon Kindle Not About to Muscle Out College Texts

A recent study involving University of Washington graduate students indicated dissatisfaction with the Kindle’s note-taking options and the ability to look up references on the device. Read more in this article from Techwatch.

7. Educators Lack Training to Teach Online Safety

When it comes to cybersecurity, less than a third of teachers receive training, according to a recent survey by the National Cyber Security Alliance. Read more about the implications of these findings in this USA Today article.