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Similar a Mbap2011 Rice Relationship Mmgt Part I Final
Similar a Mbap2011 Rice Relationship Mmgt Part I Final (20)
Mbap2011 Rice Relationship Mmgt Part I Final
- 1. Managing Relationships for Business School and Beyond MBAP 2011 March Kick-Off Seminar Jones Graduate School of Business Rice University March 26-28, 2010
- 7. MLT’s Corporate and Non-Profit Partners
- 8. MLT’s Business School Partners
- 11. 4 Stages of Relationship Management Nurturing relationships is a continuous long-term commitment, it requires preparation, a willingness to learn what matters most to your contact and a solid understanding of your value Relationships become more meaningful over time. Invest your time in developing them. Diversify your network. Never under estimate the value of your network and do not take it for granted.
- 17. Q&A Questions?
- 18. References Never Eat Alone - Keith Ferrazzi The Tipping Point – Malcolm Gladwell
Notas del editor
- Kathy Wendy and I are going to spend the next hour or so discussing how to manage relationships for business school and beyond At the end of this presentation you will walk away with how-tos and lessons that you can apply to all facets of your life.
- {Kathy} We would like to use a short video to illustrate how not to network. This may all sound obvious to you, but let’s take a look together and see what NOT to do. {Kathy-insert comments here after viewing video clip} Instructions: just click Control/Left click to start video Engage Audience: Focus is not on the set-up but on the fact that he does not listen or pay attention to Betty
- Kathy Dispel pre-conceived notions of relationship management: Let’s talk about what relationship management is not – it is not schmoozing, handing out lots of business cards or getting lots business cards, insincere, pointless conversation. Networking requires effort and commitment, the word networking includes “work” for that reason. Number 1 skill in RM above experience, expertise is LISTENING. Be curious - listen to learn and understand their perspective. Look for opportunities to engage in the conversation, share relevant information when it is appropriate. So what if you consider yourself shy or introverted: How do you deal with the dread/reluctance? As an introvert you prefer one-on-one conversations, which generally means that you are great listeners and can also focus on the person you are talking to. So focus on making connections face to face. To navigate networking in larger forums – introduce yourself or partner w/an extrovert and ask them to introduce you. Extroverts this will one way in which you will stand out. Additionally introverts tend to refrain from self-disclosure, so prepare 3-4 pieces of information you would like to share and then use email to follow up once you have made the connection. Engage Audience: How do you define relationship management? Who would like to share an example of how they have contributed to their network? Who would like to share an example of how they have benefited from their network?
- Kathy Win win scenario Job leads: 70% of executives find their jobs through networking and as Wendy will point out in the next slide, RM is a key component of your development as a leader. Career Advancement: Statistics show that roughly 43% of leaders cite creating a new network as one of the challenges in making a transition, interestingly only 28% of the pool believed they were effective in overcoming this challenge. In this down economy, how many people with established careers wish they had invested more into building their networks? Wendy and I would like to think that we invested well in relationships over the years. But how do you really know if you have done it right and what kind of return can you really achieve? Early in my career, I volunteered often, asked questions frequently, shared information and showed genuine interest in people. As a result, over the last 15 + years, I’ve drawn on those contacts often. In fact, it is that same network that has walked me through the door for 5 of the 6 career opportunities that I have pursued. So, what does that mean. It means, that every time I have pursued a new opportunity, either I have reached out to someone in my network or one of my contacts reached out to me. Transition: Hand over to Wendy to explain why relationship management plays a key role in your leadership development
- Wendy Notice the trends: -Look at the first bar on the graph. See which factors business schools are valuing when rendering admissions decisions. -Once you are in business school, relationship management grows from 10% to 40%! This is the where you really have to kick into high gear. Networking is an essential ingredient for finding success in any MBA program. -Analytical skills become less important and relationship management becomes an essential skill needed to climb the ranks into the C-suite. -Relationship management becomes increasingly more important as you progress through your career.
- Wendy -Be scrappy -Think about how interconnected your circles are. -Imagine how superior relationship management can help you grow exponentially, both personally and professionally. -Mention networks: Fellows may be familiar with Facebook, Ning, LinkedIn, etc…. -With new networks, mention how they are now welcomed into the MLT Family which is made up of 1000 MBAP Alumni and 600 CP alumni. -This web of relationships need to be nurtured -You must go beyond the exchange of business cards to build a good reputation for yourself.
- Wendy (Updated: 3/18/2010) 48 Corporate and Non-Profit Partners Mention diversity among the group. Some of you may have discovered MLT because of your current affiliation with one of these partners. Some of you may be interested in joining these organizations, post-MBA, so now is the time to start thinking of building your network and properly managing your relationships with these organizations.
- Wendy ( Updated: 3/18/2010) 31 Partner schools For the scrappy ones of you out there, you may have already visited these institutions and started building your relationships with admissions officers, current students or alumni of these schools. Maybe someone from this network, referred you to MLT and you have them to thank for inspiring you to become part of MBA Prep. Each of these logos, both corporate & school partners, represents an opportunity for each of you.
- Wendy will lead this exercise; Kathy will assist. **Make sure paper and pencils are distributed ahead of time for this exercise . (make sure Helen/Stephanie know we need these materials distributed before exercise) The PPT on the next slide has 6 categories. 1. Someone who is an only child 2. Someone who’s been on TV/in a movie 3. Someone who has five or more siblings 4. Someone who can sing 5. Someone who’s run a marathon 6. Someone who has the same shoe size as you Each participant is given pencil and paper and asked to make six lines across their paper, one under the other. Facilitator says: “Please draw six lines on your paper with enough room on each to have someone sign their name. In just a moment, I am going to display a list of categories. In the next 5 minutes, move around the room and obtain the signatures of a person who fits each category. Please sit down once you have obtained all six signatures, so we’ll know when you’re done. Have fun with this! It’s a great opportunity to talk to other people. And, by the way, categories can be broadly defined, so don’t worry about being too exact. If you were on TV when you were five as part of Barney and Friends— well, that counts. Everybody stand up. Go.” At the end of five minutes, when people look like they’re getting close, ask them to sit down. Then take a few minutes and see what the group found. For example, “Who has run a marathon? Jerry. Great. Jerry, tell us about your time, experience.” Run through all six categories. At the end, ask people to give themselves a hand.
- 1. Someone who is an only child 2. Someone who’s been on TV/in a movie 3. Someone who has five or more siblings 4. Someone who can sing 5. Someone who’s run a marathon 6. Someone who has the same shoe size as you Each participant is given pencil and paper and asked to make six lines across their paper, one under the other. Facilitator says: “Please draw six lines on your paper with enough room on each to have someone sign their name. In just a moment, I am going to display a list of categories. In the next 5 minutes, move around the room and obtain the signatures of a person who fits each category. Please sit down once you have obtained all six signatures, so we’ll know when you’re done. Have fun with this! It’s a great opportunity to talk to other people. And, by the way, categories can be broadly defined, so don’t worry about being too exact. If you were on TV when you were five as part of Barney and Friends— well, that counts. Everybody stand up. Go.” At the end of five minutes, when people look like they’re getting close, ask them to sit down. Then take a few minutes and see what the group found. For example, “Who has run a marathon? Jerry. Great. Jerry, tell us about your time, experience.” Run through all six categories. At the end, ask people to give themselves a hand.
- Kathy We have provided an overview of RM, and shared the group exercise, now what we want to go over are some tactics to help you define your relationship management strategy for business school. Let’s discuss specific tactics for each phase Developing a relationship strategy for business school makes good business sense. There are 4 stages to this strategy: 1 st stage is to Prepare – There is value in determining what the schools want, understanding what you bring to the table and developing a plan to build and maximize the new relationships you will develop. 2 nd stage is to Initiate - We will talk about what it means to be proactive and take charge in building your network. 3 rd stage is to Cultivate - We will outline steps to nurture your relationships. 4 th stage is to Maintain - Lastly, we will talk about ways to sustain your b-schools relationships to reap the rewards of your investments
- Kathy (Let’s ask to have slides 12-19 printed out and shared in Fellows’ folders) There’s a quote that says “Success always comes when preparation meets opportunity” B-school presents the opportunity to develop great relationships and now is the time to prepare for the success that awaits you. CONNECTORS Reference Tipping Point: How Little Things Can Make a Big Difference by Malcolm Gladwell: Connectors are people in a community who know large numbers of people and who are in the habit of making introductions. A connector is essentially the social equivalent of a computer network hub. Connectors usually know people across an array of social, cultural, professional, and economic circles, and make a habit of introducing people who work or live in different circles. Connectors are not only focused on building their own network but they also introduce great people to one another. They thrive because they actively seek to move the value of their networks from one contact to another. They know—they trust—that this interaction will benefit them, too. Their networking isn't a matter of "help me, right now," but rather of finding common elements among the people they've known for years and the new people they're meeting.
- Kathy (Kathy: Need to add a personal story here for impact. ) Focus: listen to learn, empathize and share information. Time and effort Do you know who the connectors are in your life? Will you always be able to identify them? Maybe, Maybe not. The point is you never really know and learning to be an authentic and consistent initiator will benefit you tremendously as you interact with people from all walks of life. Building relationships take time and you have to have patience to build strong lasting relationships. Reach out to others that aren’t like you, and know that one awkward meeting doesn’t make a bad “life-time” relationship. Be consistent when dealing with people, listen to learn, empathize and share information. Being focused on the person - means being genuinely interested in what they have to say. (People that have met Bill Clinton and Barack Obama often say that both so engaging that even a stranger often feels like they talk to you they are very interested in what you have to say). Story 1 As a management trainee in my first job out of undergrad. I met a woman that was a part of the MBA management program. I invited her to lunch to discuss her perspective on the company. She was very bright and articulate but also intimidating and not overly-friendly. However, I knew I could learn a lot. We struck a respectful friendship although we were very different people. Over time, our friendship developed both personally and professional. I dog sat for her as she traveled the world as a management consultant and she provided me “free” room and board– a great way to pay off student loans fast after undergrad! She was my strongest advocate for b-school, arranged for an interview with a well know consulting firm and opened her network to find me a case coach. Fast forward a few more years, she’s now the CFO in an organization and calls me for coaching. You never know under what circumstances you will meet a connector. Take the initiative to connect with different people and give each relationship your best.
- Kathy Demonstrate each as an example Be approachable “ I am not good with names” - "If you want to win friends, make it a point to remember them. If you remember my name, you pay me a subtle compliment; you indicate that I have made an impression on you. Remember my name and you add to my feeling of importance.” Dale Carnegie author of how to win friends and influence people. Tip on how to remember someone’s name: Pay attention, use their name as soon as they tell, write it down, put detailed notes on back of business card (obviously not in front of the contact)
- Wendy Cultivating= developing=growing the relationship There are many little things that will go a long way in growing these new connections. You would be amazed by how far a small thank you note can get you. Remember, that relationship management is a 2-way street. A relationship should be mutually beneficial for both sides. Wendy: Do we want to mention handwritten notes?
- Wendy -Will provide personal examples (Colleagues: send them interesting articles; share job posting/event invitation) Unexpected check-ins to say hello I track special dates in my outlook calendar and send notes/e-cards Communicating every day is TOO much! :> Remember the web of contacts; it’s a small world. Always think of ways you can offer your help in return!