Transcript MBA PROGRAM - Harvard Business School

Getting the Most from Your
Summer Fellowship
Evaluating
Opportuniti
es
Identifying
Opportunities
• Develop an
•
•
•
Understanding of
the Sector
Refine your Focus
Develop a Deeper
Understanding of
Specific SubSectors
Network, Network,
Network
• Clarify Your Personal
•
•
and Professional Goals
Evaluate the Senior
Management and
Board of the
Organizations You Are
Considering
Use Your Network to
Conduct Due Diligence
Preparing
for Your
Internship
Making the
Most of Your
Internship
• Do Your Homework: • Invest in Relationship
•
•
Understand the
Sector
Develop a Deeper
Understanding of the
Organization and Its
Culture
Understand Your
Role Within the
Organization and
Begin to Scope Out
Your Project
•
•
•
•
Building Early On
Create a Detailed
Workplan
Leverage Available
Internal and External
Resources
Remain Adaptable
Keep Networking
Leveraging
Your
Internship
• Determine
•
•
•
Appropriate
Follow-On Contact
with the
Organization
Pursue Further
Related Study or
Project Work
Utilize HBS
Resources
Continue to
Network
Preparing for Your Internship
Understand the Sector: Key Distinctions
Nonprofits
For-Profits
Mission
To solve a social problem
To earn returns for shareholders
Measurement
Qualitative, output-oriented metrics;
absence of clear bottom line; few good
sources of data
Clear, quantitative metrics; analysts
dedicated to providing quality
information and data
Governance
Multiple influences and poorly defined
boundaries and incentives
Top-down with clearly defined
responsibilities
Funding
Fragmented, project-focused funding;
limited capital sources; heavy reliance on
donations
Clearly defined and accessible capital
markets
Human
Resources
Often volunteer workforce that “does it
all”; less management capability/
capacity; significant constraints on salary
and performance incentives
Clear job responsibilities and career
paths with pay for performance
Stakeholders
Multiple constituencies, including
foundations, service recipients,
corporations, government, and society
Primarily customers and shareholders
Competitive
Environment
Role of competition unclear
Clear set of competitors drives
continual improvement
Source: McKinsey & Company, 2002
Preparing for Your Internship
Understand the Organization
• Its sub-sector
– Characteristics of the sub-sector
– Competitive landscape; other players in the field
• Its mission
– Is it clearly articulated and understandable?
– Is it reinforced by the strategy?
• Its organizational structure and culture
– Internal organizational structure
– Board/Staff relationship and role of Board
– Cultural norms
• What are the key issues facing senior management, e.g.:
–
–
–
–
–
Performance measurement/management and accountability
Sustainability/Growth/Income-generating strategies
Capacity building
Collaboration (within or among sectors)
Other
Preparing for Your Internship
Your Role within the Organization
• How does your proposed project tie-in with the key
organizational issues?
• What will be your formal and informal reporting relationships?
• What are your own personal/professional development goals
for the summer?
• What do you hope to achieve for the organization? What is the
intended impact/result of your project?
• What won’t be included within this project? e.g. Define the
boundaries of your project.
• What strengths do you bring to the table? e.g. objectivity,
data-driven approach, focused attention, industry or
disciplinary expertise, etc.
• What resources will you need from the organization/others to
succeed? e.g. sector-specific knowledge, understanding of
stakeholders, existing data, etc.
• What will happen with your work when you leave?
Making the Most of Your Internship
Transitioning and Settling In
• Invest in relationship building early and often
– Speeds learning of organization and sub-sector
– Provides insight to various stakeholder viewpoints
– Builds trust and credibility
• Create a detailed workplan
– Clarifies goals, objectives, and deliverables up front
– Identifies required resources
– Formalizes reporting relationships/check-in points
• Leverage available resources
– Internal to organization
– HBS resources
– Summer fellowship community
• Remain adaptable
• Keep networking—within organization and field
Making the Most of Your Internship
Developing a Workplan
Research
and
Analysis
Define Project
Objective
• Develop a Problem
•
•
•
•
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Statement (scope)
Provide Context:
Why does the
organization need
to address this
issue? Why now?
Identify criteria by
which to measure
progress.
Identify key
decision-makers
Outline any
working
hypotheses/
assumptions.
Set a detailed
timeline
• Collect Data
•
•
•
(quantitative and
qualitative)
Find proxies/workarounds when
encountering data
scarcity
Conduct analysis:
Remember, simple
analyses can be
very powerful
Interpret findings
Multiple
Review
Points
Develop
Recommned
-ations
Present Your
Findings
• Present findings to
• Build in review points • Synthesize findings
with key decision• Develop action plan for key decision•
•
makers throughout
the project timeline
Periodically test
assumptions and
findings
Gain feedback in time
to make necessary
adjustments
implementation and
detail anticipated
outcomes
•
•
makers
Gain agreement
and commitment
Clarify follow-on
requirements/
activities
Making the Most of Your Internship
Sample Work Plan Template
Project Name
OBJECTIVE:
.
WORKING HYPOTHESIS/ASSUMPTIONS
1.
2.
PROJECT ELEMENTS
1.

Sub-elements

Sub-elements
2.
ORGANIZATION RESPONSIBILITIES (INFO/AID TO BE PROVIDED)
General:
 Project staffing support from others in the organization
 Access to necessary staff as needed for information collection
 Input/collaboration along the way
 Participation and feedback
Provide background information on (e.g. competition, etc.):

PROJECT DELIVERABLES
1.
2.
PRELIMINARY SCHEDULE
Activity

Work Plan Approval and Project Start

Research and Analysis:
Start Date
Review historical data, competitive analysis, interviews

Mid-Course Review

Synthesis: Develop Plan

Conclusions and Recommendations

Final Presentation
APPROVALS:
______________________________________________ Date: ____________
Name, title
______________________________________________ Date: ____________
Your name, title
End Date
Making the Most of Your Internship
Resources
Social Enterprise
www.hbs.edu/socialenterprise/relatedresources.html
Career Specific
www.hbs.edu/socialenterprise/careerdevelopment.html
www.hbs.edu/socialenterprise/jobsearch.html
Publications
www.philanthropy.com
www.nptimes.com
www.ssireview.com
Other Sources
www.bridgespangroup.org
www.guidestar.org
Leveraging Your Internship
to Chart Your Career Path
• Staying connected with the organization
– Formal follow-on work
– Informal contact
– Connect others with the organization
• Pursue further related study or field work
– SE courses
– Field study
• Utilize available resources and continue to network
– SE Career Coaches
– Faculty
– HBS Alumni Network