Executive Panel Is A Rite Of Passage For MBA Students

Executive Panel Is A Rite Of Passage For MBA Students

A rite of passage for every MBA student in Penn State's Smeal College over the past two decades has been the "Executive Panel." Every spring semester for the past 25 years, MBA student teams have analyzed a comprehensive business case and made recommendations to a panel of judges from major corporations.

Executive Panel continues serves as the capstone exercise for the first-year core curriculum. More than 2,500 MBA students have shared this experience, presenting case recommendations before corporate leaders such as Malcolm S. Forbes, Jr., Alex Goldberg, James Balog, and Richard Lesher, and April 20-21 marks the 25th anniversary of the Executive Panel Capstone Exercise.

"Communication is a critical skill and Smeal MBA graduates do stand out against their competition because of the tool kit provided by this course and the Executive Panel," says David E. Butt, Director of the MBA Communications program in Smeal College.

Executives once complained that MBAs, in general, had excellent analytical skills but could not always communicate their understandings and vision to others, explains. Butt. "We listened, and in 1976, under the careful guidance of Professors J.D. Hammond and Stuart Bither, we responded with a three-credit, two-semester managerial communications course that was tightly integrated with the first year core curriculum."

This year's Executive Panel takes place April 20-21. The business case was selected by a team of core and communications faculty and reflects contemporary issues confronting today's corporate managers. This year's corporate panel of judges includes Ed Anchel, President and Chairman of Altec Lansing, Richard Bard, Chairman and CEO of Bard and Company, Inc., Lloyd Huck, Retired CEO of Merck, Richard Struthers, Senior Vice Chairman of MBNA America, Lloyd Waterhouse, President and CEO of the Reynolds and Reynolds Company.

"The cases emphasize strategic analysis and pulls together technical concepts and skills MBAs have studied throughout the year. Given the integration of international business topics in the core, we also try to incorporate global considerations as well," says Butt, who has directed the communications program since its inception.

Student teams, which have been operating throughout the semester, receive the assignment 72 hours before the first round of presentations. They have three days to analyze the case, formulate their recommendations and prepare their presentations for the first round judges.

"The demands are incredible. In 72 hours five students with highly diverse backgrounds and specializations are challenged to co-create a clear, concise and credible presentation," says Duane "Andy" Gustafson, assistant professor of managerial communication.

Oral, written and graphic skills must be coupled with the highest caliber technical analysis to support a recommendation for some of the highest-ranking executives in today's business world.

"Teams are expected to work from the single premise: Be prepared for anything! Prepare your 'best case,' as well as reasonable contingencies," says Butt. "That advice is fundamental to business decision-making, and hasn't changed in 25 years."

Since the executives treat the students as junior staff, their questions are extremely challenging and penetrating. Students must be prepared to think rapidly on their feet.

"Our alumni and executive judges don't let anything slide. The questions and scrutiny are laser-like and highly expansive. Our alumni have witnessed how tough the real corporate audience can be and their commitment is to ensure that our graduates are ready for prime-time," adds Gustafson.

Many alumni tip their hat to the effectiveness of the Executive Panel exercises and the entire BA 517 course curriculum.

"I've used, from day one, every communication tool covered in the managerial communication course. It's amazing how poorly prepared many of my peers are for these issues, and what a huge difference a tightly prepared message, graphics, or executive summary can make. The course really does add true value, from day one on the job," says John Grimm, a graduate of the MBA Class of 2000 who is currently working for Agilent Technologies.

First round presentations are given to Smeal faculty and MBA alums who subsequently select three teams to go forward for public presentation to the executive board previously described. At the end of the formal presentations, the executives choose a winning team. This years finals will be presented from 7:30 am until 11:am in the Nittany Lion Inn. The public is invited.

Butt points out that the Smeal MBA program has a nationally recognized communications program that teaches students how to develop communication that is clear and persuasive. The program involves working with a variety of media, developing a clear and concise writing style and making oral presentations.

"Over the past two decades, our managerial communications course has grown to incorporate changes in communications technology, while the underlying philosophy has remained relatively unchanged," says Butt.

Course instruction emphasizes understanding audiences, evaluating organizational constraints and communication networks, and formulating a variety of messages to meet the needs of a variety of audiences.

The course clearly provides Smeal MBAs with a competitive edge. Reflecting on his experience in the Managerial Communications course, Dick Gould,'85 MBA and founder of Rockland Small Cap Growth Fund, relies heavily on the lessons he learned from Executive panel and the class. Gould appears regularly on CNNfn and CNBC since, according to Lipper and Company, the Rockland Fund is the nation's number one small cap fund since its inception.

"Dave's communication class gives students a real edge both in preparation and comfort level. My first interview on CNNfn and CNBC were certainly helped by taking Dave's class over a decade previously. The live video simulations and the rigorous critique process by peers come to mind as being one of the most important learning experiences of my Penn State MBA education," says Gould.