As a former Education advisor, if I had to pick one of the most frequently asked questions by prospective students, it would be “How many hours do I need to study?”
The vast majority (if not all) of our students are working and leading hectic professional lives. Some are motivated and have already decided to undertake a master’s, while others contemplate the unknowns of an online programme. In my experience, two things affect their decision the most.
First – finances, and second, being able to strike the perfect work, study, and life balance. While I cannot completely help you with the finances (partially yes – check out the discount offers currently being offered on our online MBA, MSc, and LL.M programmes), I thought what I could do to help was to bring some facts to light about the other unknowns – what does a typical day in the life of an online master’s student look like?
Today, we’re looking at overview of one of RKC’s student typical day who is taking MBA Learsership and Management, offered in exclusive partnership with York St. John University.
An Introduction
Which programme did you choose and why?
I am studying MBA Leadership and Management. I chose it because I am a finance professional but work with the Operations unit which oversees the running of the office. And leadership and Management skills are required be able to manage people.
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
The course is conducted online. I mostly study on weekends and sometimes week days in the office when everyone has left. I usually listen to lectures and make my own notes from them. In total, I put in more than 10 hours a week, as I also have to do research and listen to the videos over and over, alongwith reading relevant text books.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
On weekends I would study early mornings and also late evenings. On weekdays, I preferred studying late evenings after work in the office when everyone would leave. I usually stay back for at least 2 hours.
In total, I put in more than 10 hours a week
How much time did you devote for each assignment?
Quite some time you need to do proper research and also understand your subject matter for you to be able to get a pass mark. So I had to drop out some social commitments and devote more time to my studies.
Travelling and Communication
Did you travel for work? How did travelling impact your ability to study?
I am studying online so travelling did not impact me.
How were you able to interact with peers and/or professors given the time differences?
There was a module that required a group interaction and my fellow students lived in two different time zones. But we were able to agree on a time that we could meet. Time differences did not affect my interaction with my professors as they always responded to me in time and they could be reached whenever need be.
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
A typical day for me starts early at about 5:30am on weekends with me going to our OnlineCampus listening to videos and reading the online materials. On week days it also starts at 5:30am and getting ready for work. I usually work till 6:00pm and after I finish, would study for 2 hours, sometimes more in the office.
Any advice?
Any advice you have for students to better plan their studies.
The best advice I can give to students is
1. Find a time in the day for up to 2 hours that you can concentrate on just your studies
2. Reduce social activities especially if you are working and studying at the same time
3. Try to ask a lot of questions to your professor if you don’t understand the instructions given for an assignment. I had to retake a module because I misunderstood the instruction.
4. Find a fellow student within the course you are doing, with who you can discuss few topics for better understanding.
5. Learn to submit assignment 2-3 days before the deadline. You might get unexpected internet challenge uploading your assignment at the last minute and miss the deadline by few minutes which will make you get a capped mark.
Guochang used reading tools, as Acrobat for reading, Zotero for note…
All right, so this was a sneak peek of a typical day in life as a master’s student. I hope you find it insightful and informative and that it gives you an idea of what to expect when you enrol for our master’s programmes. Watch this space as we have many more interesting insights always!
Here’s another gem of our #dilo (a day in the life of) series featuring our students. We asked some of our past and current students to share their thoughts and opinions and give feedback on how they handled the challenges of online learning.
Learn from those who came before and see if what worked for them will help you become a better student! Hopefully, this will help you to make an informed decision.
An Introduction
Who are you, really?
I am an ambitious 40 (soon to be 41) year old woman, juggling a very demanding job while trying to maintain a healthy lifestyle and continually developing myself on a professional level.
Which programme did you choose and why?
MBA Coaching, Mentoring and Leadership. I manage the HR function of a law firm, and I thought this programme would give me added skills which I can use in my current role.
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
I tried to watch all the videos and do as much reading as I possibly could during the first three weeks. I always aimed to start writing by week 4. A great piece of advice I got was, “Just start by writing sentences. The more you read, the more you’ll be able to articulate your ideas”. I found the advice to be very true and a good strategy. I would say I dedicated an average of 20 hours a week approximately.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
I would stay a couple of extra hours in the evening at work and dedicate that time to my studies. I found that to be easier than coming home and starting again. On the weekends, I would typically dedicate mornings to studying.
How much time did you devote to each assignment?
I honestly cannot quantify that. One particular assignment required a lot more time than others, as it required a lot of practice. So I would say that I dedicated as much time as I could depending on the requirements for each module.
Photo credit: Canva.com
Travelling and Communication
How did travelling impact your ability to study?
My work does not require me to travel, so it was a matter of ensuring that any holidays would be planned in a way that they would not interfere with my studies.
How were you able to interact with peers and/or professors given the time differences?
The online platform makes this pretty easy. Professors are usually quick in replying. I think the residency in York was an essential part of this programme because it made the whole experience real. You realise that most people are struggling with the same issues as you, and keeping in contact with several peers (mainly via Whatsapp) has provided a great support network, especially during dissertation!
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
Go out for a run first thing in the morning before getting ready for work (currently back in the office 3 days a week). Deal with everything the day throws at me. At the end of the working day, I either spend an extra couple of hours at the office to dedicate to my studies or go home. I would summarise it as busy; however, now that I am in the final stages of this programme, I can honestly say that I would do it all over again. Looking back, I can say that the past two years have gone by very quickly, and all the effort was well worth it.
Photo credit: Canva.com
Any advice?
Any advice you have for students to better plan their studies.
Always give yourself sufficient time to write your assignments, and don’t leave them until the last minute. Read, read and read, as that is the only way you’ll be able to write. If you have a block on some days, that’s fine, pick up the next day, and if you don’t know what to write, it means you haven’t read enough.
I hope this blog has answered some of your questions, and please watch this place for similar blogs. So, if you have been considering doing a master’s degree and now understand how to study better for an online programme, look at our programmes and see if anything interests you.
Sometimes, the fear of the unknown is more of a hindrance in achieving your end goal. Once you are past this fear and are well informed, it is just a matter of planning your path. Similar is the plight of students who want to study of online but face the fear of the unknown, such as : What is the best way to study online? Should you do an online programme? How to better manage time when learning online? And so on.
Photo credit: Unsplash.com
These are all questions that we at Robert Kennedy College (RKC) get regularly asked by students looking to join one of our online programmes. Undertaking to do an online master’s degree programme will be an additional commitment to your time and finances, and it is wise to get information beforehand.
Through this continuing series of blog posts, some of our past and current students have shared their experiences, thoughts and opinions and given their feedback on handling some of these choices and situations. Hopefully, this will help you to make an informed decision.
This time we have an alumnus from the University of Cumbria and Robert Kennedy College, MBA Leadership & Sustainability programme, Premprakash.
An Introduction
Which Uni are you studying with?
University of Cumbria
Which programme did you choose and why?
MBA Leadership & Sustainability
The Study Plan
Photo by Glenn Carstens-Peters on Unsplash.
How did you plan to study each module, and what was the reality? For example, how many hours did/do you have to put in each day/or in a week?
Minimum of six hours daily. I work better under pressure. The two modules that I enjoyed the most were IMS (Information Management) and Marketing Management. I did them together, and it turned out to be two distinctions! IMS Professor Radu was someone I really liked. His reply to the forums and interims was why I achieved high marks in IMS.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
After midnight through to early mornings all week plus the weekends.
How much time did you devote to each assignment?
For the interim assignment I spent one week and, for final assessments about two weeks’ time. I completed my dissertation within the 6-month minimum period.
Travelling and Communication
Photo credit: Unsplash.com
How did travelling impact your ability to study?
The Online residency was a lifesaver as Covid19 disrupted travel to the UK.
How were you able to interact with peers and/or professors given the time differences?
The time difference did not pose any problems for me.
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
Studying keeps me happy, focused, and desiring more knowledge.
Any advice?
Any advice you have for students to better plan their studies.
Never give up!!!
A to the point and practical advice by our alumni. I hope this blog has answered some of your questions, and provided that motivational boost to your academic plans..You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer and the application process.
As a Master-level student you will be asked to write abstracts for your papers, or for your dissertation. Writing an abstract is not rocket science, but it is somewhat different from “regular” writing. I have summed up here advice from professors and librarians on how to write an effective abstract for academia. A step-by-step approach to writing abstracts is proposed, and this should enable you to write effective abstracts.
If you are still reading, my first paragraph is a good abstract. Yay!
Why are abstracts important?
In academic writing the use of “abstracts” is particularly important, for practical reasons. With the amount of reading one needs to do when studying/researching, being able to quickly tell what a given paper is about (before the paywall) gives abstracts a crucial value.
Writing is an integral part of our professional and personal lives. Every day we write texts, emails, letters, applications, comments on social media, blogs, etc. Professionally, we may be required to communicate via email, reports, blog posts and articles, or team chat (more so since the pandemic started).
There may be a few commonalities within each type of writing, but each writing type brings its own format, tone, formalities (formal or informal), and target audiences.
You are probably well versed with the personal and professional writing styles. Still, as a student, you will encounter an entirely different type of writing – academic writing. Academic writing is a more formal style of writing, used in universities and scholarly publications, typically involving literature reviews, case studies, and application of theory in “practice”. A subject for another blog post, so stay tuned.
For the typical master’s level student at Robert Kennedy College, academic writing is a new form of writing. From the module assignments to the dissertation at the end of the programme, the students are expected to excel in this writing style.
What are abstracts?
The abstract is typically a single 200 to 300 words paragraph, “selling” the rest of the paper/article they describe to the interested reader. The abstract is not, formally speaking, part of the paper it describes, which is why it normally appears before the table of contents and is not listed in it.
The abstract must provide information on why the paper should be read in the first place – so why the research is important. For assignments, where students are encouraged to practice abstract writing in view of the dissertation, the abstracts typically try to convince the markers that the brief was addressed in its entirety. If you can imagine Jack Nicholson, do it: “the brief, the whole brief, and nothing but the brief”.
The abstract must also provide information on what was done, and how. For a dissertation, the student will concisely describe the research methodology. For an assignment paper, the same (“I have critically reviewed literature on X, Y, and Z. I have then analysed a case study on A using B and C models/frameworks, etc.”).
The abstract must also give a glimpse into what was found. Not full details, but enough to entice an interested reader to click-through to the full article. For dissertations and assignments (where the reader does not have a choice, but must read the full paper anyway), you want to reassure them (they are typically marking your work) that you have not only addressed the brief, but also found some interesting things.
The final function of the abstract is to provide a take-home message. A concise and factual conclusion that the reader can use as justification for their reading the paper in full.
What abstracts are not
In our work with mature students like yourself, the most common confusions arise between abstracts and executive summaries, and between abstracts and introductions.
Abstracts are not executive summaries
Executive summaries are a business-environment construct, whose purpose is to give the reader (executives, hence the name) enough information to make an informed decision, without having to read the full report/paper. Unlike abstracts, executive summaries are much longer (one to two pages), are much more structured (with internal headings much like this post, allowing executives to orient themselves within the summary), and must provide clear action points/decisions to be made after the supporting arguments have been presented.
Abstracts are not introductions
Although there are similarities between the two constructs, abstracts are not introductions either.
An introduction goes deeper into the WHAT (what your topic is, or what you are addressing in the paper) and the WHY (why is this important? Background context) of your work.
It will also lay out your own stance or focus given the context and the topic, and provide a “map” to your paper, describing what each section of it discusses. The introduction is typically written in the future (“will discuss X in section 1, etc.”) whereas the abstract is typically written in the past tense, or present, but never future.
How to write an effective introduction – a topic for another blog post!
Conclusion
Now that we know what an abstract is, and what it is not, here are the five steps to writing a compelling abstract that I promised in the … abstract 😊
1. Define what your work is about: provide a precise statement of the problem
2. Give some background information: provide enough background information for your study or research that describes both the main topic and the problem.
3. What and how you did what you did: summarize the research method & designs you employed, stating the key techniques used.
4. Findings: describe your findings. This part attracts the most attention as the reader is intrigued to know about the results.
5. Conclusion: Provide a brief and precise conclusion. An overstated conclusion can mislead the readers, so do not overkill.
Not everyone is born with a flair for academic writing, but, like many things in life, this can be learnt and, with experience, can also be improved over time. All you require is some guidance and practice.
Our highly qualified, world-class faculty provide you with in-depth knowledge of the course while guiding you on how to best write your assignments and prepare for the dissertation. Talk to our education advisors and enrol today for the online master’s programme that is closest to your interests.
Cutting corners, that is what we as human beings do. Now, that by itself is not wrong, finding a more comfortable, simpler way to get a job done is smart. But the line that separates ethical behaviour from unethical behaviour is narrow, and if you are not careful in your search for the smartest way to work, you could just end up crossing that line!
Before proceeding with the blog, I would like to wish all our readers a very merry Christmas and a happy and healthy new year 2021!
Wishing everyone a very Merry Christmas and a happy New Year
What is ethics?
It is merely the belief of what is right or wrong based on the individuals’ morals/values, which in turn might be dependent on the society or culture to which the individual belongs to. So, what does this mean? Simply put, ethics is very individualistic; what I believe to be right or wrong might be antithetical to what you believe to be right or wrong.
Having said that, as a society of human beings living in the 21st century, we generally have a consensus on what humanity considers ethical and unethical behaviour, as a result of which, laws are created to uphold and protect what we believe is ethical behaviour. Now, some of these laws might differ from region to region; however on the whole, most laws are put in place to protect the innocent and to uphold what society considers ethical.
Laws
Formal laws typically represent a consensus on ethical standards.
For companies and organisations, the laws and standards that are used to judge the ethics of an individual can be extended on a much grander and more detailed scale thus incorporating the ethics of society on a corporate level. So, if a company is known to follow the law, by implication, it is an ethical company. But that need not always be the case.
Yes, laws can be looked on as a standard for companies to follow; however, they are just a basis for an ethical discussion. Because at the end of the day, the legal ethics will depend on whose eyes they are viewed from. For example, while stealing is considered illegal everywhere and therefore unethical, it is unfortunate and criminal that in some countries child labour is still legal and therefore ethical (at least from their point of view), even though a majority of the nations will consider it unethical (and in my personal opinion, it is).
Ethical decisions
There are several factors, such as values, morals, culture, etc., that can have an impact on ethical decision making. For example, if you ask a group of individuals a precise and narrow ethical question, you might get as many answers as there are individuals answering the question because each person is influenced by their upbringing and life experiences.
There are also some circumstances when an otherwise unethical behaviour may be looked upon in a favourable light. For example, a town devastated and cut off from aid by a natural disaster might force some desperate people to contemplate unethical actions like breaking in and entering an abandoned home or store to scavenge items and materials required for survival. Is this behaviour ethical or acceptable? Maybe not. But until we are put in a situation like that, who are we to judge?!
The point is when we make a decision, all we can do is to make the best decision we can at that moment.
Ethical decisions in organisations
Most organisations today have a diverse and multicultural workforce. While this is undoubtedly beneficial, there are also a number of challenges to be overcome, especially when aligning decisions with ethics. Not everyone is going to agree with the ethicality of a decision! Also, you don’t want an organisation where everyone thinks the same – “groupthink”.
So, how do organisations work towards overcoming these challenges?
Code of conduct/ethics – Organisations need to start a ‘written code of ethics or conduct’. It has to be a written, physical document that is easily accessible, prominently displayed (on notice boards, company intranet, etc.) in the organisation, widely circulated among employees, made a part of induction for new employees, and made a condition for employment. What a code of ethics does is outline what the organisation considers acceptable behaviour, giving a baseline of what is ‘okay’ and what is ‘not okay’.
Ethics programme – Set up training programmes for employees that will educate them on what the organisation considers ethically acceptable decisions. The best way to learn is by example, so ensure that most of the training is situation-based. Show examples of decisions made in the past, the challenges the decisions makers faced while deliberating, their logical reasoning, and finally why they arrived at the decision they did. Make it into a case study to get an understanding of what the new employees think and the decisions they would have arrived at in the current work environment.
Ethics hotline – Most organisations do not want unethical behaviour to go undetected for a long period of time. The longer unethical behaviour takes to come to light the greater the damage to the organisation. Most people do not want to be labelled a ‘snitch’; it is a good way to lose the trust of co-workers and get isolated within your organisation. It could also have an effect on your reputation, which will, in turn, have an impact on your promotions and future employment. But for the benefit of the organisation, unethical behaviour needs to be brought to light, and the sooner, the better. Setting up a hotline that guarantees anonymity, and gives protection to the whistleblower against retaliation will encourage reporting against unethical behaviour. However, the organisation also has a responsibility to investigate comprehensively and arrive at an independent conclusion to not only protect against false reporting but to protect all the parties involved.
Leadership by example – We throw the term ‘work culture’ around quite often. Work culture is corporate behaviour which is set or determined at the top and trickles down to the rest of the organisation, and ethics forms an integral part of this behaviour. Most people in any position of authority usually set an example of ‘do as I say, not as I do’, which clearly send the wrong message to their underlings, and this is what usually ends up being the norm that is followed. There are very few leaders that are able to set the right, positive and ethical example because of the temptation to bend ethics in favour of greater profits. Actions speak louder than words and leaders have to set the example at the top for the organisation to follow.
These are just a few guidelines an organisation can follow to develop and encourage ethical decision making. What are the steps followed by your organisation to encourage ethical decisions? Any instances that you know of where companies have cut corners in their search for easy profit, and what were the consequences? Comment below.
Our online master’s degree management programmes help you become a better leader, and business ethics forms an important part of it. Chat LIVE on WhatsApp with one of our education advisors for more information on all the programmes we offer, the application process, and for information on discounts we might be offering at this time.
Leadership is a subjective term. We see and hear about effective leaders leading a department, a company or a country. But it is difficult to really quantify or describe what leadership is. You can recognize good leadership examples when you see them but it’s difficult to define. Some leaders are ‘born leaders’, they are a natural, and excel at what they do, while others learn to become good leaders by cultivating attributes and skills, behaviours, or sets of competencies, that are practiced and mastered to become an effective leader.
I have talked in the past about Sustainable Leadership in our blog – what it is, and what its principles are. There could be several styles and types of leadership, and areas where leadership is required. One such areas is law and that is called legal leadership. Legal leadership particularly identifies how leaders behave, and how they govern others directly and indirectly, by controlling organizational structures and processes in a legal department or a law firm.
Douglas B. Richardson says, “All great leaders do five things well, Imagine, Invent, Inspire, Inform, and Influence”. Though all leadership is fundamentally the same, legal leadership can take many forms, involve distinct roles and have different objectives. In a legal department, leadership has many faces: the chief legal officer (CLO), the managing attorneys, the servicing lawyers who work each day with the clients, and all of them should be leaders. Therefore, a legal leader is faced by a unique challenge of leading leaders as more often than not they end up leading other lawyers who are independent identities, individual contributors, pretty much people who do not follow anyone, do not like to be led, trust their own gut, and do not collaborate easily.
Phew! Legal leaders have to be one hell of a leader!!
Being a leader in a legal environment is challenging and may not be everyone’s cup of tea. So, what is required to be an effective legal leader? Law firms and corporate legal departments have identified some basic qualities and attributes that a leader should possess. Here are the five skills and attributes that are important for effective legal leadership:
1. Collaborative skills
Legal leaders usually find themselves managing large teams and complex cases. They usually have different and difficult sets of people at both ends of their stick. On one end are their own team members. And at the other end are the clients from diverse backgrounds, personalities, education levels, experience levels and requirements. The legal leader plays a key role in coordinating all the aspects, and people in bringing out the desired legal outcome.
Exercise collaboration with effective communication.
A good legal leader should hit the ground running through effective and early communication amongst the team members, and letting everyone know their tasks after a brainstorming session. Follow up and make sure to listen to their colleagues’ ideas or the issues they are facing, and help them overcome their obstacles and provide the resources if required.
A legal professional must weigh in everything, facts of the case, potential risks and their consequences
2. Good Judgement
Success in any profession is highly dependent on good judgement, and this is especially true for the legal profession! It is one the most critical attributes that a legal leader must possess – to apply good judgement and make sound decisions. Legal professionals are faced by situations every day where they must make complex decisions by weighing in the facts of the case, evaluating potential risks and their consequences on the case and on the firm/organization.
Good judgement also requires excellent problem-solving skills. A good legal leader must be able to pre-empt the issues, and must have ideas and many solutions to a problem.
However, the leaders must not isolate themselves or feel solely responsible for a decision. Though they are leaders, they are still a part of the team, and must seek input of their peers and other experienced legal professionals on critical matters.
Self-awareness is an important quality of an effective legal leader
3. Self-awareness
While most of the legal professionals, lawyers, and para-legals would call themselves lone-wolves and individual contributors, they are still part of a legal team. As they become leaders, most lawyers face a hurdle what’s called ‘expert identity trap’. This means they identify themselves as subject matter experts but do not necessarily see themselves as a leader. Though several attributes are required to be a good legal leader, self-awareness is one of the key qualities of an effective one.
All legal professionals are bound by the model rules of professional conduct
4. High ethical standards
The legal profession is heavily based on trust, and each member’s ability to demonstrate highly ethical behaviour. Failure to do so will have many adverse outcomes such as not being able to gain the trust of their client and/or colleagues, and even more critical, being disbarred or legally charged and disciplined for misconduct. All legal professionals are bound by the model rules of professional conduct and they must understand their responsibility as the stakes involved are high!
5. Diplomacy
Diplomacy is one of the skills that a legal leader must have to climb the ladder of their legal career. A good leader must exercise diplomacy in handling clients, project the professional image of the firm, and must be respectful of their colleagues. The legal profession is an intensive and demanding career. It is critical for leaders therefore to keep calm and show virtues such as understanding, compassion, and integrity. Diplomacy is not something that one can learn overnight, it is a gradual, self-grooming process that can be effectively used to resolve any conflicts, and manage differences and disagreements.
To be the best legal leader, it takes lot more than just being book-smart too; one needs to be street smart. Our 100% online master’s degree programme prepares you just for that by providing a deep understanding of the key concepts and theories of leadership and their application in a law-oriented organization. Talk to our advisors today to learn more about the programme.
Once upon a time (about twelve or thirteen years ago), I decided to try my hand at starting a manufacturing business. Why? I was in my 20’s, with an MBA and a few years of work experience under my belt, and I had a dream – to leave my mark on this world, to become the next Henry Ford or Steve Jobs, and I figured, if things go to hell, I was young enough to risk it and still have time to bounce back!
There is of course a lot more to this story and my thought process that lead to my decision, but this is not the point of this post. The point is, when you do decide to start a business there is this steep learning curve, and as the business is your own, there are a lot of factors that must be considered while making decisions.
Many factors that must be considered while making decisions
Like me, if you came from the corporate world, still early in your career with limited managerial experience, you probably just had to look after a very specific task – sales, marketing, a small part of finance, etc. But when you are the head of your own business (no matter how small), you need to be involved in everything! Business Plan, Finance, Revenue, Marketing, Sales…
Strategic Management
When you have so much on your plate there is a risk of your dropping the plate and causing it to break into many tiny pieces (the “plate” here is your business :D).
Understanding how business works, the points to consider before making a decision, and knowing and correctly identifying the different sources of information on which to base your decisions is paramount for the success of your business. This is where strategic management takes on a whole new importance in your thought process. It does not matter how big or small your business/company is, start thinking strategically!!
Think Strategically
Three principles underlying strategy: (1) Creating a “unique and valuable” [market] position (2) Making trade-offs by choosing “what not to do”, and (3) Creating “fit” by aligning company activities to one another to support the chosen strategy
Prof. Michael E. Porter, Ph.D., Harvard Business School
The simplest definition of strategic management is “the formulation and implementation of the major goals and initiatives taken by an organisation’s top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organisation operates.” Strategic management provides overall direction to a business and involves specifying the organisation’s objectives, developing policies and plans to achieve those objectives, and then allocating resources to implement the plans (source: Strategic Management for Voluntary Nonprofit Organizations, Roger Courtney).
A system of finding, formulating, and developing a doctrine that will ensure longterm success if followed faithfully.
Dr. Vladimir Kvint, Chair of the Department of Financial Strategy at the Moscow School of Economics of the Lomonosov Moscow State University
So, how do you go about making your life (business really) easier by implementing strategic management?
First, identify your goals – let’s say your goal is to increase annual sales, but what does that actually mean? It is just too vague. Quantify and be specific. As an example, our goal is to sell 100 ballpoint pens and 200 ink pens by the end of the next financial year.
Now, how do you go about achieving this goal?
Start by identifying what goods you are going to be manufacturing (in our example they are pens), then the market to which you will be selling these manufactured goods.
Next, organise the resources you will need to achieve your goals, like putting in place purchasing and supply chain management to ensure a timely supply of raw materials, people and equipment to carry out the manufacturing process, marketing and sales team to bring in clients, and employing or contracting an adequate support staff (if you are unable to do it yourself) to carry out other support functions.
There are also a number of external forces that can have an impact on your business strategy. One of the tools most used in understanding these forces and helping in developing a strategy is Michael E. Porter’s Five Forces Framework which is a business analysis model that helps explain why various industries are able to sustain different levels of profitability. The Five Forces model is widely used to analyse and determine the corporate strategy of a company.
Porter’s five forces are:
Competition in the industry
Potential of new entrants into the industry
Power of suppliers
Power of customers
Threat of substitute products
A graphical representation of Porter’s five forces
Understanding the principles behind strategic management might take time, but when it comes right down to it, you will find that it is basically logic. The challenge is in getting the right data from the right sources on which you can base your decisions, and of course the methodology you use to analyse the data to arrive at your decisions. A wrong strategic decision may end up costing you dearly.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes we offer, the application process, and for information on discounts we might be offering at this time.
History has shown that a crisis pushes us on to new paths.
Everything we have ever known has been flipped on its head! Things we have taken for granted no longer exist – our 9 to 5 jobs, meeting friends at the pub, a romantic dinner date with that special someone, going for a movie with the kid. It all just feels like a dream now!
Even simple things such as shaking hands or walking around without a mask might be a thing of the past. Social distancing and hand sanitization might be the norms of the future.
And that is just when it comes to how COVID-19 has affected us personally! COVID-19 has also made an impact on the way we do business. Words like “globalisation” at present hold very little meaning, especially after billions of people have been under lockdown and self-isolation worldwide. People can no longer travel or enjoy the positive impact of an abundant and global supply chain.
And this will continue to hold true, at least until an effective, globally accessible and economical vaccine is developed. Not all countries will recover from COVID-19 at a similar rate and not all countries will be able to avoid a relapse.
The below graphs give an indication on how varied the impact of COVID-19 has been on different countries.
Retail is one among the hardest hit segments – people just don’t want to risk going out and getting stuck in the middle of a big crowd (and who can blame them, it is simply not worth the risk).
But it is not just retail – it is education, IT, automotive, hospitality, entertainment, travel and tourism, etc., etc. (I can’t go on listing all the different industries, so please assume that I have listed them). And it is not just these industries that are affected, the ripple effect can be felt across all supporting industries and businesses. A number of friends of mine who either work for or own small businesses, have all shut shop (some of them say they haven’t gotten any new orders for the last three months).
And, as things stand today, there is no end in sight!
The airline industry itself is set to lose about 350 billion US dollars this year, which translates to cheap flight tickets being a thing of the past, at least for the immediate future. This will have an impact on the way we plan our travel, whether it is for work or play! And this will in turn have a trickle-down impact on a number of support industries.
Self-isolation and lockdown have already changed how we work and study. Many schools have now started offering their programmes online and companies are basically running on Zoom and Skype, and this could be the modus operandi going forward. Every day this continues, we will get more data on home-schooling and home-working, and will be able to refine, optimise, and develop solutions to maximise productivity. Maybe the “new way” will even be able to outperform the “traditional way” of doing things.
At the very least, we may see an increase in work-from-home and study-from-home going forward. Families will have to learn and adapt to this new reality too.
Even if we develop a vaccine and COVID-19 becomes a thing of the past (fingers crossed), things have changed and will continue to evolve – locally and globally, personally and professionally, and economically. The way we look at things, the way we interact with other people, it is all changing. Automation, Artificial Intelligence and Online Communication will be brought front and centre, and this will have a direct impact on efficiency and resource management, reducing the human contact requirements to the minimum “necessary”.
Sustainability, solidarity, and healthcare will take centre stage in the future.
Did you plan to join a school to further you studies and learn new skills. Have your plans hit a roadblock? Then, it is time to get off the bandwagon and think “online”!
You can also chat LIVE on WhatsApp with one of our Education Advisers for more information on the programmes offered, application process, and for more information on any discounts we might be running in this rather strange period of our lives.
Continuing with our blog series featuring our female students, we asked our students to share their experiences with us – the challenges of getting back to school, of managing work and study along with family, and the unique challenges they faced being female students.
Ms. Ilse Baxter is a graduate of our MA programme in Leading Innovation and Change (MALIC) through our exclusive partnership with York St John University, UK. This programme has been discontinued and has reincarnated as a 100% online MBA programme in Leading Innovation and Change.
Ms. Ilse Baxter
Now, let us see what she has to say!
Who is …
A short profile
Sahil Devasia (SD): Who are you, really?
Ilse Baxter (IB): I am a forty-something, beach and nature loving South African who divides her time between Sandton, Johannesburg, Cape Town and my happy place – Hermanus. I have always loved music and the arts – and danced professionally for a short period in my early twenties.
My under-graduate studies were in the sciences – I studied computer science and maths – but balanced this with English literature studies just to keep sane. 🙂
I have over my career had the privilege of working in SA, the UK and the USA. These days I am a director of a niche management consulting company – heading up the Business Transformation practice. We have for more than 10 years helped clients in the Financial Services and Retail sector grapple with some of the toughest challenges they have had to face. I am absolutely passionate about the topic of Business Transformation! For fun I love travel, reading, yoga, painting, music and I’m a bit of a foody – so love love love all the wonderful restaurants and wineries SA has to offer or just cooking at home with friends and family!
Getting back into education
Your story of getting back to do a Master’s degree
SD: What was the driving force behind your enrolling for an online degree? Who inspired you? What motivated you?
IB: I don’t consider myself an academic at all – I never have. I am very practically/experientially minded by nature – but I have always been insatiably curious about things around me. In this – I guess I was inspired by my mother. At 88 this year she remains as sharp as ever, curious (and incredibly informed) about the world around her and eternally questioning and seeking to understand more.
In my forties I started feeling the need to back what I had learnt practically/experientially with a relevant and meaningful post graduate qualification. I didn’t just want to “tick the box” by adding a few letters behind my name – I wanted it to be something that really contributed to my practice and reflected my areas of interest. It took me a couple of years to find something that I felt reflected my interest areas and allowed me to study in a way that made sense it my personal and professional obligations…… enter MALIC.
SD: What were the thoughts/situations/people/challenges holding you back from starting (if any)? How did you overcome them?
IB: Firstly – TIME!!! How do I balance an incredibly busy life of running a consulting practice, helping clients through some of the toughest challenges they ever have to face (not a part time job), being there for my team, being present and there for my husband and family – and still find some time for myself (especially with all the pressure out there to stay fit, well and to achieve the illusive “balance” we’re all chasing)?!
Secondly – a PERSONAL CRISES. I had already been accepted into the programme. Literally the week I was due to start – my husband (and business partner – he is the Managing Director of our company) had a major stroke. This was a crisis not just personally – but for our business too. Initially he was paralysed on the right-hand side of his body. Also – the man I married spoke 6 languages. The stroke rendered him mute for about 6 weeks (language centre in the brain was at the locus of the stroke). And then we had to start from scratch – learning how to say vowels etc etc. It has taken years to recover his current facility in terms of both speech and writing. He recovered 100% physically quite quickly. But the language journey is one they told us could take 10 years. Nearly 4 years later now his speech and writing has largely recovered in English and he is starting to grapple with French and Spanish again.
My instincts at the time was to just cancel commencing with my studies. But – as always – it was my mum and husband that insisted that I continue. So, I asked for a reprieve to start with the next cohort (3 months later) and set out on a 3 year journey of learning.
To be honest – studying kept me sane. It gave me something outside of my circumstances to focus on. Our business has had to transform to adapt to our new circumstances – and in doing so it has thrived. We have had to adapt to our new circumstances – and although without a shadow of a doubt it has been the toughest thing I have ever faced – we have survived and thrived through it. Studying under these circumstances was – despite seemingly impossible circumstances (many clients and friends thought I was mad to continue) – the best decision I have ever made.
Thirdly – PEOPLE’s PERSPECTIVES (clients, family, friends) – asking me WHY I FELT I NEEDED TO STUDY FURTHER – you’ve already mastered this topic – what difference will this make to your life? Ultimately the decision to study was a very personal one. My job requires me to pour everything I know into helping my clients – this drains you physically, emotionally and mentally. In truth – I knew I needed something to build up my own internal stores – to inspire, challenge and grow again – so that I could be a better leader, a better advisor and a better practitioner. It has done all that for me and more!
SD: What surprised you the most when you started your studies?
IB: Firstly – That despite a seemingly impossible load – client assignments, running a business, study, family – there IS time if you really want to do something. Something shifts and what seems impossible becomes imminently possible.
Secondly – How I could draw on my work experience to enrich my studies and how I could draw on my studies to enrich my practice …. not at the end of the process – but from the very first module.
SD: Do you feel there are unique challenges women face when deciding to get back into education?
IB: Time I think is the biggest one. The practice I lead is (not by design) predominantly female in profile. I have over the years observed the challenges (both practically and emotionally) that professional women face in terms of balancing professional demands and aspirations with family responsibilities (and aspirations) and the need to look after themselves (mentally, physically and emotionally). How do you take care of all these aspects of your life without compromising any of them? Is it ok to prioritise something that is seemingly just for your own benefit (aka potentially “selfish”)?
Getting the degree
The work to get the degree – what did you learn, how did you balance, what would you do differently
SD: Which programme did you do? Why?
IB: MALIC. Three reasons really:
It most closely matched my areas of interest.
It supported my area of practice.
It is set up in a way that allowed me to schedule my study obligations in a way that worked for my personal and professional circumstances.
SD: What is the single most important thing you learned during the programme?
IB: Not one – sorry! I loved studying again! In fact, I am considering going further after a “Gap Year” :). I absolutely loved doing research! (I never knew I would) This is opening up new potential opportunities as I move into a next stage of my career.
Most importantly – I discovered “I CAN”. I can do something for me without negatively impacting everything else that is important to me in my life. “I CAN” continue to grow and learn and evolve – even in my late forties 🙂
SD: How did you balance work and studies?
IB: Very very carefully! 🙂
Probably the most important advice I was given was in our first module by Dr Radu Negoescu. He encouraged us to do a plan and to contract with friends, family and colleagues. I took this advice to heart and “contracted” a way of work with my husband, friends, family and our team.
I am a morning person – so my plan involved getting up at 4.30 every morning and studying for 3 hours. Then having breakfast with my husband. before going to clients or attending to our business and team. I spent every evening with my husband or with friends and family. I also agreed terms for weekends.
By thinking through what it would take and how I could manage the impact on my life consciously – I had a routine that worked for us, my husband, our friends and family knew what they could expect from me (and what not) – so I could avoid feeling guilty for not getting to people/obligations and I had wonderful alone time every morning where I could focus on my studies.
One of the practices that evolved early on in this process was taking a photograph of the sunrise and just allowing myself to appreciate beauty, the privilege of doing what I was doing and the opportunity to enjoy that very special time of the day on my own. Although I am not studying anymore – I still love that time of day!
SD: Any particular challenges to being a woman and studying online, or do you think all students face the same ones?
IB: I don’t see any difference personally. The trick is finding something that you are interested in (not just something that is going to become a chore), a pattern that works for you and then sticking to it and a programme that is well organised and well enabled technologically!
Life post degree
What changed, if anything?
SD: What’s new in your life since graduating / starting your studies? Any visible impact already?
IB: A LOT has changed! 🙂
It has helped me focus on our value proposition from a practice perspective – and this focus really resonates with our clients! Our business has grown by more than 30% in the past 2 years as a result.
It has really changed my confidence in engaging with clients on certain topics. I am in the process of starting to write (journals) – something I have always wanted to do. I have started a complementary business – which tackles some of the findings from my dissertation. Exciting times ahead!
SD: Anything you are doing differently now because of the things you learned?
IB: I think the experience has really strengthened the approaches we take in our business practice. I’ve been able to draw on course content and also dissertation findings to really sharpen our focus. I also think that it has shifted many perspectives for me at a personal level. Not least of all what I can achieve when I set my mind to something! 🙂
SD: Do you feel that getting a Master’s degree or doing other online programmes can reduce gender discrimination in the work place?
IB: This is a tough question for me. Over the span of a 20+ year career I have never felt that I was on the receiving end of any overt discrimination at the workplace. This doesn’t by any means mean that I haven’t been on the receiving end of challenging or seemingly unfair situations.
I strongly believe – especially in the world we live in today – that we all have increased pressure to stay on top of our game. To continue to evolve, to respond to the world as it changes around us, to continue on a journey of being the best we can be – whatever that is. For me personally focusing on this mission is more important. In this mission – getting a Master’s degree is definitely a key enabler.
Advice for other women
Or other students, really.
SD: Imagine you could send a message back in time to your pre-degree self: what would it be?
IB: You CAN do this! (That doesn’t mean it’s not going to be super tough along the way & it doesn’t mean that you are not going to have days where you feel like quitting – it just means that if you persevere you will see the rewards!)
You SHOULD do this! (You deserve to give back to yourself – this investment is one of the best you’ll ever make!)
SD: Imagine you could send an object back in time to your pre-degree self: what would it be?
IB: Wow! These questions are something else! A beautiful tea pot and special cup! 🙂 This degree was earned over innumerous cups of tea!
Closing thoughts
SD: Anything else you would like to add that could help with the goal of increasing women’s participation/access to a Master’s degree?
IB: What may be useful is “support groups” – places where women considering studying, or current students can mix with current and past students – sharing experience, approaches, methods, etc., etc. (maybe these should be separate groups)? The diverse spread of students makes time zone/occupation etc. pairing a real opportunity – regardless of the hours people choose to study.
Now’s a good time to start
If you have been thinking about getting your master’s degree, proving to yourself and others that you CAN do it, now would be a good time to take the plunge. Have a look at our list of programmes and see if we have anything that could help.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the programmes offered, application process, and for more information on any discounts we might be running in this rather strange period of our lives.
I promise this is not another COVID-19 update, myths and truths or uncovering the facts where and how this deadly disease started, blog. There is more than enough information out there – and I’m talking about reliable sources only – enough to overwhelm most of us.
These are challenging times for us as individuals and for society at large – humanity some might say. The global pandemic has changed the way nations operate and has impacted the global economy. The greatest and gravest impact of the pandemic, however, is on the healthcare systems around the world. With about 3.8million COVID-19 cases in 210 countries and territories (as of May 9th, 2020), the healthcare systems worldwide are immensely stressed. (https://covid19.who.int)
Healthcare systems are hit hard both directly and indirectly (too many patients at the same time, too many doctors becoming patients, lacking resources, inability to attend to other conditions, etc.)
The World Health Organisation said so much:
Countries will need to make difficult decisions to balance the demands of responding directly to COVID-19, while simultaneously engaging in strategic planning and coordinated action to maintain essential health service delivery, mitigating the risk of system collapse
WHO, March 2020
So, if this is not an update, nor a myth-busting blog, what is it?
I would like to focus on the positives of this situation from an educational point of view, thinking especially of those who envisaged a career in the healthcare sector, people who are looking to switch careers, or someone already in the healthcare sector looking to verticalize their career path. Now is the time to “quarantine” and study!
Choosing a career for yourself might be one of the biggest decisions you take in your life. Some of us are fortunate to follow our passions and interests and make a successful career out of it. Sometimes after pursuing a career for a whole number of years, we realise that it is not something we want to do for the rest of our lives. We’ve got to rationalize our interest and weigh the pros and cons a career offers. If you have been thinking what’s in it for you, here is what a career in the healthcare industry has to offer:
Humanitarian side
While every profession tends to serve society in some way (well at least that is what I like to believe), in my opinion, healthcare is the noblest. The potential of changing and saving lives puts you on a higher pedestal as a professional compared to any other. If you have an innate desire of helping others and uplifting humankind, healthcare is the right place for you.
Tremendous Growth Opportunities
Surveys and labor statistics reveal that healthcare is one of the fastest growing industries with an estimated addition of 1.9 million new jobs. According to the U.S. Bureau of Labor Statistics, employment in healthcare occupations was projected to grow 14 percent from 2018 to 2028, much faster than the average for all occupations.
Healthcare occupations are projected to add more jobs than any of the other occupational groups. This projected growth is mainly due to an aging population, leading to greater demand for healthcare services.
Challenging situations like the ongoing pandemic of COVID-19 have created a need for strong healthcare leadership. The present outbreak is far from over, and the healthcare sector is operating at maximum capacity. There is an urgent need to adequately plan and utilise limited resources. At the same time, it has become all the more imperative for the healthcare systems worldwide to be prepared for any future events, as the COVID-19 pandemic is definitely not the last one.
The sector offers a number of growth opportunities that are wide ranging, beyond the conventional patient care field of being a practitioner, nurse or therapist. There are opportune avenues for both horizontal and vertical growth in the sector. As the healthcare paradigm continues to evolve, there is a greater demand for innovation in healthcare technology, guided by the vision and sharp business acumen of a strong healthcare professional.
Dynamic
Most days, a healthcare professional will bring new challenges and should bring with them joys and job satisfaction. Demand is changing and so are the roles in this industry which adds to its dynamicity.
Flexibility
Healthcare offers flexibility in three ways. First the flexibility on choice of profession. You have a plethora of options to choose from: patient care services, government relations, human resources, planning and development to name just a few healthcare management positions you can get yourself into.
Then you can choose the environment you want to work in. The healthcare management professionals are not limited to jobs in just hospitals. There are great career opportunities in consulting, state and federal agencies, insurance, laboratories and universities.
Thirdly, this industry is not bound by borders. The experience in the field is highly regarded across nations making you a valuable asset wherever you go (with few exceptions where licensing might be necessary).
Competitive Salary
Last but definitely not least, healthcare sector jobs are well paid and rewarding in the monetary sense as well. On an average, the median salaries of healthcare professionals are higher than the annual wages of all other occupations. (https://www.bls.gov/ooh/healthcare/home.htm)
A master’s degree could provide you ‘the edge’ to make a move into or to grow within the healthcare industry. The enhanced knowledge and multifaceted skillsets will allow you to make progress by leaps and bounds in the field.
Because let’s be honest – who hasn’t had a bad “boss”? Highly competent people with tremendous skills in their profession, parachuted in leadership positions without preparation. That “joy and job satisfaction” we were mentioning earlier are highly impacted by leaders who are not fully prepared to lead other people too.
Our online master’s degree programmes will help you understand international perspectives and also how to analyze the constraints and trade-offs in developing and implementing national health strategies, health care financing, economic evaluation, the role of effective change management and technological development.
Chat LIVE on WhatsApp with one of our Education Advisors for more information on the healthcare management programmes offered and the application process. Remember to ask about our “quarantine” discounts and check your eligibility.
On behalf of the entire RKC team, a special thanks to all healthcare professionals across the world for working tirelessly to keep our communities safe. Our gratitude to all of you responsible citizens for staying home and helping stop the spread. #thankyouheathcareworkers
