Snowfall

We woke up on the 7th of April to find a covering of snow. I know, I know...this was nearly a month ago...but here are some pictures now.






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Distinguished Speakers

One great thing about studying in Oxford is the very large number of illustrious speakers who visit the business school. A short list of the speakers who have visited the business school so far this year include: Sir John Rose, Chief Executive, Rolls Royce; Tony Tyler, COO, Cathay Pacific; Sir Lyndsay Owen-Jones, Chairman, L'Oreal; ex-US president Jimmy Carter, ex-US Vice President Al Gore; Neville Isdell, CEO, Coca Cola Group; Tim Harford, author of The Undercover Economist and member of the Financial Times editorial board; and George David, CEO, United Technologies Corporation, to name just a few.

It would be pointless to try and extol the virtues of listening to the experiences of men who have achieved so much. The opportunity to hear such a large number of distinguished speakers and the chance to actually have a one-on-one conversation with them during the post-talk drinks reception makes it one more reason to choose Oxford.

A few days ago the school had its annual public lecture, delivered by Oxford Graduate Nicky Oppenheimer, the billionaire chairman of the De Beers group. The lecture delivered was an informative discourse on the company's business and perspectives in the extremely complex mix of diamonds, development, and democracy.

Indeed there have been (and I suspect there will continue to be) questions about the ethics of the diamond business in Africa: issues relating to conflict diamonds, development of communities and countries in some of the poorest parts of the world, and to De Beers' role in influencing matters (including politics) in these areas. Regardless of the merits (or indeed lack of) of such arguments, it was refreshing to hear the company's perspective, and to Mr. Oppenheimer's candid submission that a lot more could be done, and needed to be done, in these areas. It was also amusing to hear, when he was introduced as an Oxford graduate who started as the chairman's assistant, that Mr. Oppenheimer was quick to explain that the only reason he could do that was because the chairman whose assistant he started out as was his father.




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Invisible

It's amazing how a good comic can amuse people without words - or props. And some comics are better than most others. Check out these videos of Rowan Atkinson that rather vividly demonstrate the point.







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The Blues Book: SBS Unplugged

Many students coming to the Said Business School and to Oxford, especially those coming from very different parts of the world with very different systems and cultures, need all the help they can get to fit in and to make the transition as smooth and as hassle-free as possible. Those researching the school with a view to applying often do not get to know enough - after all, official sources, like the fabulous SBS and Oxford University websites, can only give you so much information. Some students search the internet for any information, anywhere, while others trawl the various internet MBA groups and forums hoping to find someone with the knowledge they seek. But most prospective students often miss out on the most valuable perspective - that of current and past students, and on little nuggets of information too mundane to be included in official websites .

Therefore, some enterprising students in the current class have set up this Wiki site to help all Said Business School prospective students, applicants, and aspirants to gain a better understanding of what life is like in Oxford, what the business school and studying here is like, what to expect, and what to prepare for. The site is still in its infancy and contains limited information at the moment, but as current and past students share their experiences and opinions it should evolve into something really useful.

It is important, however, to note that the Wiki site contains the opinions of the writers - the school's students, and has no official standing whatsoever. Also, as a Wiki site it can be edited by absolutely anyone, and therefore prospective students should use their own judgment in evaluating all information, opinions, and experiences detailed on the site.

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Trinity begins

Trinity term started for me today with my first class of the term - Business in China. It was a fascinating class to begin the term with. International business in this rapidly evolving and shrinking world is dynamic and challenging as it is; business with a country like China, even more so. The country's politics, culture, markets, and legal systems are perhaps as different as they can get from the capitalistic west. Yet, more or less every company in the western world wants to do business there. So much so that it has become a cliche to say that one really cannot afford not to be in China. This paradox of evident attraction versus apparent risks makes the study of business in China even more interesting.

Incidentally, many classes, including this one, have started this term in what is still Week zero. This is partly because of complex scheduling and the availability of the lecturers, and partly because of the MBA tournament (more on that later) in the second week of May. The term promises to be the most difficult one yet. Like Hilary, we have electives and different study groups for different modules. However, unlike Hilary six different electives mean more assignments and six different study groups. Though the exact number of assignments during the term depends on the exact electives opted for, I suspect most people would have close to 15 different assignments during the term. I have 14.

I have some very interesting electives lined up for the term, in addition to 'Business in China': 'Branding and Communication', 'Marketing Innovation', 'CSR and Ethical Marketing', 'Retailing', and, 'Strategic Decision Making in Dynamic Environments'. If nothing else, this great mix of subjects should result in fantastic learning opportunities.

We are technically half-way through the year and into our last academic term (the final, summer, term is for projects, internships, theses, etc.), and the rest of the year should really fly by from here.


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Trinity - the start of a new term

Well, here we are - half way through the one-year MBA programme, and what a six-month period it has been! After the first term - Michaelmas, and the second - Hilary, the third term - Trinity, starts on Monday.

Michaelmas was characterised by getting used to being a student, to attending classes, to learning new stuff, and to making new friends. Hilary, with us now settled in, was about capitalising on the learning opportunities in terms of academics, social networking, career planning, and life in general. This was capped by the first real sense that we've learned an awful lot in six short months - by way of the Entrepreneurship Project. A lot happened during the term, however, and it whizzed past in a blur. Looking back it is hard to identify landmark events that help bring a sense of scale to time - maybe it is just me, but I have a feeling a lot of my friends will agree.

Trinity, I have been reliably told, will be even more of a blur. It's like being on a roller coaster - we're moving along at incredible speed; yet we have no idea when we're going to reach the top (or even if we have already passed it).


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Tata Motors and Blu-ray

No, they're not connected in any way. Except that I wrote about both shortly before conclusion of affairs in each case. Therefore, an update is called for.

First, almost immediately after the last post on Blu-ray, Toshiba conceded defeat and that proclaimed Blu-ray as the undisputable technology leader. So, we can now go out and buy Blu-ray players and recorders, certain that we are not buying obsolete technology - though with the cheapest Blu-ray players currently selling for £200 in the UK it may be a while before they become ubiquitous.

Second, shortly after Easter the finalisation of the $2.3bn Jaguar-Land Rover deal between Tata and Ford was announced. Ford will also contribute up to $600m to the pension plans of the two brands. The sale is expected to close by mid-year.


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Death Knell for HD-DVD?

WalMart's decision to stop selling Toshiba's HD-DVD format may well be the sounding of the death knell for the technology.

This just goes on to show that there is so much more to making a business success of a technology than the technology itself. When one buys a product, one buys more than just that - one buys the whole constellation of capabilities and services that surround the product. One buys intangibles like service support, available accessories, and reliability. One buys expansion capabilities and potential for future development. And often one buys a product that is recognizable by all.

Network effects (the phenomenon whereby a product or a service becomes more valuable the more people use it - think of mobile phone services and same-network call rates, which encourages friends and associates to stay on the same network) are also often vastly more important than the product itself. Just look at one of the most hotly contested battles in recent times - that of Microsoft Vs Apple. It isn't that Microsoft's products are superior to Apple's. If anything, it is the other way round. Yet Apple has never succeeded in threatening Microsoft to any significant extent.

Sony had learned this the hard way when its Betamax video players lost out to VHS in the late Seventies and early Eighties. Sony missed a trick by sharing some details of the format with Matsushita (Panasonic) and JVC, expecting all other players to accept Betamax as the industry standard 'for the good of all'. However Matsushita and JVC had plans of their own and developed the VHS format (some say with some help from their newly gained knowledge of the Betamax format). This started the format wars.

Though Betamax was arguably the better format (from a purely technological viewpoint), there were other reasons for its demise. The recording duration on Betamax was only 60 minutes, while VHS could record up to 3 hrs on one tape. This meant that initially Betamax could not be used to record movies. Two, Betamax lost out on the rental market - even after recording duration was enhanced, a much larger number of movies were available on VHS than on Betamax. By the time Betamax became aggressive on this front, it was too late to recover. So, VHS offered a greater and cheaper range of hardware, the tapes were cheaper and more easily available, and there were a much larger number of movies to rent. How much of this true and how much urban legend is actually irrelevant.What matters is that what probably killed Betamax were network and external effects.

Now, the situation with Blu-Ray and HD-DVD is not very dissimilar. Blu-Ray has recently gone on to become the preferred format of most major Hollywood studios. And with the largest DVD seller in the world - WalMart - also opting out of HD-DVD, it won't be long before Toshiba and the HD-DVD format concede defeat.



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Tata closer to closing the deal?

The FT reported recently that there are signs that the talks for the sale of the Jaguar and Land Rover marques is nearing completion.

Land Rover and Jaguar are believed to have made a joint profit of $1.2bn in 2007, though Jaguar is believed to have made a loss. Incidentally, Ford does not release individual financial results for these brands.

Jaguar's new XF has been well received in the market, prompting thoughts of a change in the company's fortunes (it has been a perennial loss-maker for Ford). The XF is a great-looking car. What Car and Auto Express magazines both give it 5 stars. Check out these pics.



Photos from www.jaguar.co.uk

Surely does float my boat, it does!


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GM announces third consecutive year of losses

General Motors today announced its third consecutive year of losses in 2007. Compared to 2006 losses of $2bn, 2007 losses amount to $38.7bn! In the year 2007 there were only 161 companies worldwide with revenues higher than that figure. The entire Tata Group had revenues to the tune of $29bn in 2006-07. Kind of puts things into perspective, doesn't it?

The figure, however, is inflated by a special charge related to the valuation of deferred tax assets and therefore cannot be taken at face value.

The company only expects a real push for earnings in around 2010-2011. Earlier, GM just about pipped Toyota to the post in terms of total number of vehicles sold in the year, maintaining its position as the largest vehicle manufacturer in the world by volumes sold. GM claims to have sold 9.367m cars in 2007. While Toyota first announced sales of 9.37m cars, the figure was later revised to 9.366m. Too close to call, really!


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Things you must never do when drunk

Now here's an addition to the list of things you must never do when drunk: never lock your bike to the main door of a bank in such a way that it prevents the door from opening. And if, by any chance you do, be absolutely certain that you don't break or lose your key!

A few days ago as we were walking out of a certain college after an exchange dinner, we stopped at the porter's lodge to ask to be let out (it is secure, so no one but students can get in late in the evening, but it appears that non-students can't leave the college either, unless someone lets them out. But more on that some other time). So, as we found out, we had to wait for more than a few minutes as the porter was busy talking to a young lady, trying to resolve her problem. Her problem? She stood there with a broken key in her hand - the key to her bicycle lock - the lock that she had used to lock her bike with - to the main door of the nearby Barclays branch!



Apparently the girl had wrapped her cable lock along both bar handles of the main door at Barclays and left her bike there. Finally, when she went back to retrieve the bike, the key snapped in the lock. She was now worried that she would not be able to remove her bike that night, and as a consequence the bank would not be able to open shop the next morning - until they went round and got a cable cutter or a locksmith to do the job for them. Just imagine the chaos that would ensue the next morning, with all employees and tens of early morning customers waiting outside for the bank to be able to open its doors for business, because there was a bicycle in the way! (The bank does have a shuttered door, but the shutter only opens from inside, which cannot be got at until the main door is opened).

The porter was trying to do his best to offer possible solutions, which variably were an old wire cutter ("...but the cable lock is this thick...", said with the thumb and forefinger about half an inch apart), and a hammer ("...I don't think the lock is going to break with that!...", notwithstanding the fact that the police would take a dim view of someone trying to break into Barclays with a hammer at midnight). Finally, the solution that was arrived at was a note scrawled on a small piece of paper that began, "Dear Barclays..."

It was time to leave.


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Real tennis, anyone?

Okay. So how many people have heard of Real Tennis? I certainly hadn't, until about three months ago. It turns out my mate Seb plays it - and I had the rare opportunity to watch a match played between the Universities of Oxford and Cambridge today. Seb, naturally, was playing.

But what is real tennis?

Well, Real Tennis is the original 'Regal' tennis (Real, as in Real Madrid) from which the modern game of lawn tennis originated. It is also called Court Tennis in the US and Royal Tennis in Australia (for those that may be familiar with these terms).There is some debate about when the sport was first played - different opinions range from the 16th century to the 19th century. It may have evolved from a ball game that was played using a gloved hand from as early as the 12th century. There apparently are only about 35 Real Tennis courts left worldwide!





The sport is played in an asymmetrical court, with sloping roofs, various openings and a buttress, and has a rather intricate point scoring system. Racquets are asymmetrical too, and balls are hand-sewn - often by the players themselves. While in principle it is similar to lawn tennis there are several nuances that are difficult to follow without some understanding of the game. You can read about the sport here and here. The University of Oxford Real Tennis Club is here. I recommend a look - when so few people are even aware of the existence of the sport, having a greater knowledge of it is fantastic.


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Great expectations

The Hilary term started today (well not quite, we're still in week 0) with a session on this term's Entrepreneurship Project (the EP). It was great meeting all the new friends we've made after a gap of about 3 weeks, catching up, discussing Christmas break activities, etc.

Activity has already started, needless to say on the EP, but also on the term's timetable, course packs, electives, and study groups. This term promises to be even more exciting than the last one: on the one hand the strange classmates we had are now friends; on the other hand the EP, the electives (with different study groups for each), and the intensifying career preparations will make sure we have an extremely dynamic 10 weeks of Hilary.

Our experiences from Michaelmas term should help us handle the pressures of Hilary better; yet the unknown - the EP - will make it more interesting and challenging. For sure, though, the EP will give us more satisfaction than the rest of the academic learning put together, as we consolidate all that we've learnt in these two terms and see it come to fruition as a coherent whole. And that is incentive enough for all the hard hours of work I know we'll need to put in.

Now, the question is, will I be writing a similar post at the beginning of Trinity term as I am writing here? I guess time will tell. I'll be keeping my fingers tightly crossed!


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Oxford in pictures

Here are some images of Oxford (taken not in the best weather conditions, I am afraid), which highlight just how beautiful it is.



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Hilary - the beginning

Here we are, at the start of the 2nd term - Hilary (the first was called Michaelmas, the third, Trinity). Week 0 starts tomorrow. Actually week 0 is just designed to ease us into the academic term, which, because it is all of 10 weeks long, picks up and maintains momentum from day 1. Another 10 weeks, then, of new subjects and courses: Marketing and Operations Management, which are mandatory modules, and Financial Management, Global Strategy and Technology & Innovation Strategy, which are my electives.

Week 0, then, starts with a free Monday, followed by 'Entrepreneurship Project' presentations on Tuesday, and Elective presentations for Trinity term on Wednesday and Thursday. On Friday we have a careers fair in the business school, with about 12-15 companies attending.

Week 1 then begins with a bang on the following Monday, and I'm sure will leave us with no breathing space for the next ten weeks.

New class sections this term, which along with the electives means four different study groups, too. It should be fun mingling with a new set of people, many of whom will now share similar interests (true for the electives). And then we have the EP - the Entrepreneurship Project which is in a fifth group. Group work, therefore, will take on a completely new meaning this term, with our having to adjust, and readjust, to different group dynamics for different modules.

Exciting stuff!


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