On Monday morning the University of Chicago came together in the Harper Center to congratulate and toast Professor Richard Thaler, who had just been awarded the 2017 Nobel Memorial Prize in Economic Sciences. Professor Thaler is widely known as the “father of behavioral economics” for pioneering the field that pairs traditional economics with human psychology to better understand how people make decisions. Continue reading Richard Thaler’s Nobel Prize captures the essence of Chicago Booth
It’s intimidating to walk into a new career (even an internship) with zero work experience in the field. But that’s exactly the situation that I, like many of my peers, are finding ourselves in at this moment.
Like many Boothies, I’m a career transitioner (military to consulting, in my case). Though I was comfortable leading 150 combat soldiers, I was quite nervous thinking about how I should interact with a client. Also, like many of my peers, I like experiential learning in addition to classrooms and coffee chats – feeling like I need to touch & feel a process before I really understand it.
Fortunately, Booth built a course that’s exactly what I needed: Strategy Lab, which is a hands-on class that pairs small teams of students with real clients, solving real problems, mentored by real consultants.
Coming from a non-traditional background of majoring in biomedical engineering and working as a software developer, I have to admit that I was nervous about coming to business school. Not only did I have a lot to learn in the classroom (since I had only taken one business course during my entire undergraduate experience), but I also had a lot to learn outside the classroom when it came to management and leadership styles. The flexible curriculum at Booth really helped me brush up on my business skills for the former, but Leadership Exploration and Development (LEAD) was what really helped me excel at the latter.
What do you do when you have a chance to present to people who can be connections for you and help you with your goals?
That is what the New Venture Challenge class experience teaches participants in the ten weeks they spend as part of the course As the New Venture Challenge (NVC) enters its final round this week, the businesses that have gone through it have evolved and so have the entrepreneurs and their teams. Those selected for NVC have to take the class, which includes two rounds of pitching to potential investors. I sat in one of the pitching sessions and it was a wonderful learning experience even though I wasn’t trying to get any idea sold.
New Venture Challenge (NVC) is possibly the most well-known competition at Booth as well as one of the most famous entrepreneurship competitions in the business school circle. As part of our ongoing series dedicated to the NVC, I sat down with Professor Steve N Kaplan for a brief conversation about the New Venture Challenge, which he helped co-found in 1996.