MBA Program 2005–2006

“To educate leaders

who make a difference
in the world.”
01 | MBA PROGRAM 2005-2006 | introduction

At Harvard Business School, we take our mission very

seriously—to educate leaders who make a difference in the
world. Our MBA Program is deliberately intended to be a
transformational experience for our students, who in turn go
on to change the lives of those around them. In two years at
HBS, they build a foundation for a lifetime of leadership.

THE GENERAL MANAGEMENT PROGRAM

Since its founding in 1908, Harvard Business School has focused on preparing its
students for the particular challenges facing the general manager. It is a role that
requires a deep grounding in not only hard analytical skills, but also in the strategies,
ideas, and habits of mind that constitute leadership—the ability to define overarching
organizational goals, to achieve them by inspiring other people who may think very dif-
ferently, to make important decisions with inadequate information, to seize opportunities
in the face of doubt—in short, to respond creatively to change, and to create change
that makes a positive difference.

Each year, our MBA Program graduates approximately 900 individuals, each one eager
to test the tools gained in the classroom against the rigors of the real world. By focusing
on field-based, problem-focused research, and by using the case method to inject that
reality into the classroom, HBS offers an education in business that has tremendous
power in practice. Building on skills and insights gained at HBS, our graduates make
profound contributions in every sphere of management and business, in virtually every
corner of the world.

These pages offer an introduction to the distinctive philosophy and practice of manage-
ment education at Harvard Business School. You will come away with a clear sense of
what makes an HBS education uniquely powerful, as well as a practical feel for student
life on and off campus. This document also serves as a nuts-and-bolts guide to the
process of admission and financial aid.
02 | MBA PROGRAM 2005-2006 | the learning experience

learning
If you’re attracted to a career in manage-
ment, it is probably in part because
you love to transform problems into
opportunities—not just the well-defined
problems of numbers on a spreadsheet,
but the frustrating, fascinating, ever-
changing, and very human problems of
real life in business.

From the great tides of the global financial markets

to the daily challenges of running a small company,
business is by definition dynamic—and HBS
prepares you to handle that perpetual change
through a classroom experience that is just as
demanding and dynamic.
03 | MBA PROGRAM 2005-2006 | the learning experience

THE CASE METHOD

The formal study of management is not much older than Harvard Business School itself, and the
“case method,” which has influenced so much of business education, was pioneered here as a way of
infusing reality into the classroom experience. The goal: to make an HBS education a realistic
preparation for the rigors of leadership. The case method will be the essence of your education at HBS—
but it is not the whole. Other teaching styles and methods include role-playing, videos, simulations, team
exercises, and lectures.

Every HBS case is a real-life situation, describing HBS professors aren’t soloists, but rather conduc-
the dilemma of the “protagonist”—a real person tors, who every day orchestrate an incredibly stimu-
with a real job who is confronted with a real prob- lating rapid-fire intellectual symphony, playing off
lem. True to life, a case presents the story just as all 90 minds in the room. They achieve analysis
the protagonist would see it, including ambiguous through a rich process of interaction in which
evidence, shifting variables, imperfect knowledge, everyone teaches and everyone learns.
no obvious right answers, and a ticking clock that
impatiently requires action. Although every case is different, they are all united
by one overarching question: What should the The beauty of the case method
is that it enables every
Every week, you will prepare for approximately 14 protagonist do? In your two years at HBS, you will
participant in the discussion
cases, typically including charts and other supporting analyze upward of 500 cases—500 chances to test to act as both a teacher and
data. You will then have a chance to ponder the yourself against the rock-hard dilemmas that con- a student. This process has
questions it presents in the company of others— front managers in the field every day. allowed me to identify my
either in your study group or in conversation with weaknesses, and to work hard
other classmates. At HBS, our intellectual reputation springs from
to incorporate the best
traits I have observed in my
our commitment to marrying the practical and the
peers into my own character.
And then you will head to class. academic, wedding the freshness and relevance
of field-based research with the rigor of academic
Bradley Smiedt MBA 2004
A class at HBS is probably unlike any educational modeling and analysis. HBS faculty research and
experience you have ever had. You may be accus- develop by the far the greatest number of cases
tomed to sharing a lecture hall for a few hours a used in business classrooms around the world, and
week with dozens of other students. At HBS, you at HBS you will often have the privilege of taking
will share a unique amphitheater classroom about a class with the person who created the case in
three to four hours a day for a whole year with question—and even of having the actual protagonist
approximately 90 other students in your section. appear in person to tell you how it all turned out.
04 | MBA PROGRAM 2005-2006 | the learning experience

SECTION LIFE To assemble the constellation of personalities and

When you enter HBS, you will be assigned to a perspectives that will produce the most dynamic
For me, HBS and the case method were
specific section—a group of approximately 90 sections and create the most effective leaders, we absolutely transformative. They not only
students with whom you will take all your first-year make intense efforts to draw outstanding students made me a better manager, but frankly a
classes. Although each section mirrors the diversity from the broadest possible range of backgrounds— better person — a better father, husband,
of the student body, it develops an individual with work experience or right out of college; from community member, nonprofit leader. You
just develop the ability to step outside
personality and is taught by its own team of faculty, nonprofits, small businesses, start-ups, and govern-
your skin and adopt the assumptions and
who work closely together to integrate ideas and ment as well as traditional corporate enterprise; viewpoints of other people.
themes across your various classes. from across the country and around the world. Your
section will introduce you to a widely diverse group Michael Jennings MBA 1968
Your section will almost certainly become the of people—and they may wind up being among your
focal point of your intellectual and social life. It best friends or future professional colleagues.
will also foster a risk-free environment in which
you practice and hone the practical skills of com-
promise, negotiation, persuasion, and leadership. STUDY GROUPS
Early in your first year, you will come together with
It’s also important to understand that in our case- several of your classmates to form a study group
based classrooms, every student is also a teacher. that will work together throughout the year. You
You bring to your own analysis and commentary the may assemble the group based on temperament
unique lessons of your experience, education, and and chemistry or with an eye to including a specific
culture—and a great part of what you learn at HBS mix of backgrounds and expertise. Study groups
will come from listening to the dozens of contrasting typically meet on a daily basis, and you will proba-
experiences and viewpoints of the rest of your section. bly come to count on them as a vital personal and
intellectual resource.

Many MBA students describe their study groups as

an important part of the learning experience.
Offering a miniature version of the dynamism and
diverse opinions in your section as a whole, your
study group is a place to clarify your understand-
ing, test your own ideas and other people’s, learn
new ways of attacking a problem, and build close
friendships.
05 | MBA PROGRAM 2005-2006 | the learning experience

EXAMPLES OF HBS CASES

Collectively, HBS cases cover every inch of the
landscape that faces a general manager—from
finance and manufacturing to marketing and
human resources, from the broadly strategic to
the tactical, from companies and institutions
small and large, from places around the globe.
A few examples illustrate the range of topics and
the issues they present:

• Case: Nantucket Nectars

Describes how the founders of Nantucket Nectars
try to decide whether to sell their company. The
case also describes how the founders started the
company and grew the Nantucket Nectars An HBS classroom: Designed to make a class of 90 students feel as inti-
mate as a seminar, our distinctive amphitheater classrooms also offer the
brand name. latest in educational technology, from HBS wireless Intranet access to
• Case: Private Communications Corp.
videoconferencing and multiplayer simulations.
Describes a decision confronting Ann Meceda, a
• Case: Parenting Magazine
soon-to-be MBA graduate. She has been working
Describes a set of decisions confronting Robin
as the director of marketing in an Internet start-
Wolaner, who is negotiating with representatives
up, and now the founder wants her to become
of Time Inc. about investing in a project to launch
CEO. She must weigh the personal and business
a new magazine called Parenting. The negotia-
risks and assess her own objectives and tolerance
tions have reached an impasse.
for risks.
• Case: U.S. Labs
• Case: Kate Spade
Describes the evolution of a start-up venture
Describes the efforts of Kate Spade’s founders
in the pathology lab segment of the clinical lab
to finance and grow their luxury handbag and
business. U.S. Labs goes through a series of
accessories business. As the case ends, the
business models before running out of cash.
founding team must decide among four potential
The company is in dire need of financing, as its
strategic partners offering to purchase different
venture capital backers are refusing to put up
shares of Kate Spade at various valuations.
more capital and its bank is calling its loan. Yet,
the CEO is willing to put up his own funding and
believes in the company’s future.

Schematic drawing of an HBS classroom.

06 | MBA PROGRAM 2005-2006 | the learning experience

THE CURRICULUM
Like any world-class faculty, our professors are constantly engaged in research, and the ideas and knowledge

they create influence business practice in every sphere. But another crucial aspect of our ongoing research

is investigating the most powerful ways to train new leaders, and putting those ideas in practice in our

curriculum. From this carefully crafted progression of four intensive semesters, you will emerge with skills

and concepts that will serve you for life, no matter what career you choose.

Your HBS experience will begin with the preliminary The Foundations curriculum includes:
program we call “Foundations.” Following Foundations,
in Terms I and II of your first year, you will work Learning to Lead
through the Required Curriculum with your section, Develop and apply skills required to organize a
exploring fundamental business principles and productive team and effectively function within it.
concepts. In Terms III and IV, your second year,
you will choose from the Elective Curriculum a Business Simulation Career Development
menu of courses that make sense for you, given Explore the issues involved in turning around a This portion of the program involves an analysis of the
your strengths, interests, and goals. bankrupt company. (This work is closely integrated results of each student’s self-assessment completed
with the material covered in Learning to Lead.) before matriculation. It is designed to help students
FOUNDATIONS identify how their interests and values are related to
Foundations is a two-week program that launches Economics of Markets
various business functions, industries, and organiza-
the MBA curriculum and leads into the beginning of Devoted to the fundamental principles of eco-
tional cultures. This innovative approach has proved
the Required Curriculum. nomics, with particular attention paid to how these
enormously valuable to students as they begin to
principles shape the structure and performance of
think about their career paths.
Foundations builds on your preexisting academic markets. Our goals are to understand the framework
preparation with six modules that help you further and the key concepts of economics.
master skills and concepts that will enhance your
learning throughout the entire curriculum. In Creating Modern Capitalism

Foundations, students are evaluated on their ability Learn how national systems have affected the

to work together in case discussions, problem set evolution and practice of business by studying the

reviews, and team projects. economies of Great Britain, Germany, Japan, and
the United States over the last 300 years.
07 | MBA PROGRAM 2005-2006 | the learning experience

THE REQUIRED CURRICULUM—TERMS I AND II

The challenges of the Required Curriculum form a core of your MBA education. Taking the perspective of the

general manager, you will spend the year working with your section to explore the internal dynamics of a

business organization and how it affects and is affected by outside factors and forces.

TERM I COURSES • Familiarity with how modern accounting and show how effective marketing builds on a thorough
The following Term I required courses use the control theory is used in evaluating economic understanding of buyer behavior to create value
point of view of the general manager to focus conditions and making organizational decisions. for customers.
on the internal functional operations of Students learn how to:
business enterprises. Leadership and Organizational Behavior (LEAD) • Make marketing decisions in the context of
This course focuses on how managers become general management.
Finance I effective leaders by addressing the human side • Control the elements of the marketing mix—
This course examines the role of finance in support- of enterprise. product policy, channels of distribution,
ing the functional areas of a firm, and fosters an The first modules examine teams, individuals, communication, and pricing—to satisfy customer
understanding of how financial decisions them- and networks in the context of: needs profitably.
selves can create value. • The determinants of group culture. • Use this knowledge in a brand management
Topics covered include: • Managing the performance of individual simulation.
• Basic analytical skills and principles of subordinates.
corporate finance. • Establishing productive relationships with The course culminates in an examination of the
• Functions of modern capital markets and peers and seniors over whom the manager has evolution of marketing, particularly focusing on
financial institutions. no formal authority. opportunities presented by the Internet.
• Standard techniques of analysis, including capital
budgeting, discounted cash flow valuation, and The intermediate modules look at successful leaders Technology and Operations Management (TOM)
risk analysis. “in action” to see how they: This course enables students to develop the skills
• Develop a vision of the future. and concepts needed to ensure the ongoing contri-
Financial Reporting and Control (FRC) • Align the organization behind that vision. bution of a firm’s operations to its competitive
Recognizing that accounting is the primary channel • Motivate people to achieve the vision. position. It helps them to understand the complex
for communicating information about the econom- • Design effective organizations and change them to processes underlying the development and manu-
ics of a business, this course provides a broad view achieve superior performance. facture of products as well as the creation and
of how accounting contributes to an organization. delivery of services.
Students will gain: The final module introduces a model for strategic Topics encompass:
• An understanding of the concepts and language career management. • Process analysis
of accounting so it can be used as an effective • Cross-functional and cross-firm integration
tool for communication, monitoring, and Marketing • Product development
resource allocation. The objectives of this course are to demonstrate the • Information technology
• Mastery of the vocabulary of financial statements role of marketing in the company; to explore the • Technology and operations strategy
and accounting reports. relationship of marketing to other functions; and to
08 | MBA PROGRAM 2005-2006 | the learning experience

TERM II COURSES Finance II Negotiation

The following Term II required courses build on the This course builds upon the foundation developed This course focuses on developing negotiation skills
curriculum of the first term, and cover the in Finance I, focusing on three sets of managerial and analysis. At its core are carefully structured,
relationship of the organization to larger economic, decisions: progressively more complex negotiation exercises.
governmental, and social environments. • How to evaluate complex investments Students learn:
• How to set and execute financial policies within • How to effectively negotiate through the use of
Business, Government and the International a firm exercises, cases, readings, and videos.
Economy (BGIE)
• How to integrate the many financial decisions • How external and internal negotiation has become
This course introduces tools for studying the eco-
faced by firms a way of life for effective managers in a constantly
nomic environment of business to help managers
changing business environment.
understand the implications for their companies.
The Finance II course is divided into four blocks
Students will learn the impact of the following:
of material: Strategy
• National income and balance of payment
• Advanced Valuation—valuation of levered firms The objective of this course is to help students
accounting
and projects develop the skills for formulating strategy, and
• Exchange rate theory
• Advanced valuations—options as a metaphor provides an understanding of:
• Political regimes
for flexibility • A firm’s operative environment and how to sustain
• Financial choices of firms—financing, distributing competitive advantage.
An examination of both the gains and the problems
funds to shareholders, managing risk • How to generate superior value for customers
from regional global integration:
• Integrated financial decisions, especially in the by designing the optimum configuration of the
• International trade
face of conflicts of interest and different product mix and functional activities.
• Foreign direct investment
legal/regulatory rules • How to balance the opportunities and risks
• Portfolio capital
associated with dynamic and uncertain changes
• Global environmental issues
Leadership, Governance, and Accountability in industry attractiveness and competitive
In this course, students learn, in depth, about the position.
The Entrepreneurial Manager
complex responsibilities facing business leaders Students learn to:
This course addresses the issues faced by managers
today. Through cases about difficult managerial • Develop a mastery of a body of analytical tools
who wish to turn opportunity into viable organiza-
decisions, the course examines the legal, ethical, and the ability to take an integrative point of view.
tions that create value, and it empowers students to
and economic responsibilities of corporate leaders. • Use these tools to perform in-depth analysis of
develop their own approaches, guidelines, and skills
It also teaches students about the management industries and competitors, predict competitive
for being entrepreneurial managers.
and governance systems leaders can use to promote behavior, and analyze how firms develop and
The course teaches students how to:
responsible conduct by companies and their employ- sustain competitive advantage over time.
• Identify potentially valuable opportunities.
ees, and shows how personal values can play a critical Particular attention is paid to competitive
• Obtain the resources necessary to create an
role in effective leadership. positioning; understanding comparative costs;
entrepreneurial organization.
and addressing issues such as cannibalization,
• Manage the entrepreneurial organization once it
network externalities, and globalization.
has been established.
• Create value for the organization’s stakeholders.
09 | MBA PROGRAM 2005-2006 | the learning experience

THE ELECTIVE CURRICULUM—TERMS III AND IV

Building upon the skills developed in the Required Curriculum, in your second year at HBS you will choose from

a wide array of courses available in the Elective Curriculum. You construct a second year of study that is precise-

ly tailored to match your interests and career aspirations. In addition, many students elect to go beyond our

formal course offerings by participating in a student-initiated small-group field study, individual student

research, a field study seminar, or cross-registration at Harvard’s other graduate schools and select schools

beyond the University. Each of these highly personalized options is described in detail under Field-Based

Learning below. The following is a list of courses most recently offered.

COURSE TITLE COURSE TITLE

ACCOUNTING AND CONTROL ENTREPRENEURIAL MANAGEMENT

Achieving Profit Goals and Strategies Building Businesses in Turbulent Times

Business Analysis and Valuation Using Financial Statements The Coming of Managerial Capitalism: The United States

Designing Organizations for Performance Effective Leadership of Social Enterprise (also listed under General Management)

Half-Course: Corporate Financial Reporting Entrepreneurial Finance (also listed under Finance)

Half-Course: Managing the Financial Information Environment Entrepreneurial Management in a Turnaround Environment

Entrepreneurial Marketing (also listed under Marketing)

BUSINESS, GOVERNMENT & THE INTERNATIONAL ECONOMY
Entrepreneurship in Education Reform (also listed under General Management)
Economic Strategies of Nations
Entrepreneurship in the Social Sector (also listed under General Management)
Institutions, Macroeconomics, and the Global Economy (IMaGE)
Evolution of Global Business: Entrepreneurial Perspective
Managing International Trade and Investment
Field Study Seminar: Evaluating the Entrepreneurial Opportunity
The New Private Sector: Managing Privatization, Regulation
and Deregulation Field Study Seminar in Managing for Creativity

Field Study Seminar: Women Building Business

Half-Course: Analytical Methods for the Vigilant Leader

Half-Course: Managing for Creativity

10 | MBA PROGRAM 2005-2006 | the learning experience

COURSE TITLE COURSE TITLE

ENTREPRENEURIAL MANAGEMENT GENERAL MANAGEMENT

International Entrepreneurial Finance (also listed under Finance) Building a Sustainably Successful Enterprise (also listed under
Technology & Operations Management)
Legal Aspects of Management
Cross-Cultural Work Experiences
Management of the Family Business
Effective Leadership of Social Enterprise (also listed under
Managing Networked Businesses Entrepreneurial Management)

Professional Services (also listed under Negotiation, Organizations & Markets) Entrepreneurship in Education Reform (also listed under
Entrepreneurial Management)
Real Property
Entrepreneurship in the Social Sector (also listed under
Strategic Corporate Citizenship (also listed under General Management) Entrepreneurial Management)

Venture Capital and Private Equity (also listed under Finance) Field Study Seminar: Innovating in Health Care

FINANCE General Management: Processes and Action

Acquisitions and Alliances (also listed under Negotiation, Organizations & Markets) Half-Course: Social Marketing (also listed under Marketing)

Capital Markets Innovating in Health Care

Corporate Financial Engineering Management in Perspective

Corporate Financial Management Managing Change

Dynamic Markets Managing in the Information Age

Entrepreneurial Finance (also listed under Entrepreneurial Management) The Moral Leader

Functional and Strategic Finance Strategic Corporate Citizenship (also listed under Entrepreneurial Management)

Half-Course: International Managerial Finance

International Entrepreneurial Finance (also listed under

Entrepreneurial Management)

Investment Management

Large-Scale Investment

Tax Factors in Business Decisions

Venture Capital and Private Equity (also listed under Entrepreneurial Management)
11 | MBA PROGRAM 2005-2006 | the learning experience

COURSE TITLE COURSE TITLE

MARKETING ORGANIZATIONAL BEHAVIOR

Branding, Advertising and Culture Managing Human Capital: Keeping Hope Alive in Organizations

Business Marketing Power and Influence

Channels to Market (C2M) Self-Assessment and Career Development

Consumer Marketing
STRATEGY
Customer Behavior Laboratory
Advanced Competitive Strategy: Integrating the Enterprise
Entrepreneurial Marketing (also listed under Entrepreneurial Management)
Analytical Reasoning
Half-Course: Social Marketing (also listed under General Management)
Competitive Dynamics: The Rise and Fall of Competitive Advantage
International Marketing Management
Corporate Strategy
The Marketing of Innovations
Globalization and Strategy

NEGOTIATION, ORGANIZATIONS & MARKETS Microeconomics of Competitiveness: Firms, Clusters and

Economic Development
Acquisitions and Alliances (also listed under Finance)
Strategy and Technology
CCMO: Incentives

Corporate Diplomacy: Negotiating to Shape the External Environment TECHNOLOGY & OPERATIONS MANAGEMENT

Negotiating Complex Deals and Disputes Building a Sustainably Successful Enterprise (also listed under
General Management)
Negotiation and Dispute Resolution: Interdisciplinary Research Seminar
Coordinating and Managing Supply Chains
Professional Services (also listed under Entrepreneurial Management)
Managing Health Care Technology and Operations

ORGANIZATIONAL BEHAVIOR Managing Innovation and Product Development

The Board of Directors and Corporate Governance Managing Service Operations

HC: Leading Teams The Operating Manager

Leadership in a Multi-Cultural World: Building Relational Competence Operations Strategy

through Self-Knowledge
12 | MBA PROGRAM 2005-2006 | the learning experience

FIELD-BASED LEARNING
Field-based learning options in addition to Elective Curriculum course offerings include field studies,

Individual Student Research, and field study seminars. More than 50 percent of HBS students take advantage

of the unique learning opportunities provided by faculty-supervised fieldwork.

• Field Studies Students may choose to complete one ISR in the

Field study projects are conducted by teams of Fall term and take on a second, related ISR in the
three or more students who work closely with Winter term.
HBS faculty as they take tools and techniques
learned in the classroom and apply them directly • Field Study Seminars
to the workplace. A field study may involve work A field study seminar combines several classroom
with a specific company to launch a new product, sessions (though not as many as a classroom
develop a new business, or solve a real-world course) with a field study. Like a field study or
problem. Or it may center on developing a busi- Individual Student Research project, a field study
ness plan that the student team hopes to pursue seminar is considered a non-classroom course and
in the future. Each team is expected to conduct counts toward the field study credits allowable in
research in the field, carry out thoughtful analysis, the Fall or Winter term. You don’t need to submit
prepare a report, and make a final presentation— a faculty-approved petition to take the course (as
supported by concrete findings and recommenda- you would for other field-based learning options).
tions—to the supervising faculty and, if appropri- Instead, you signify your interest in taking a field
ate, the sponsoring organization. study seminar during the spring preregistration
process, at the same time that you select your
• Individual Student Research classroom courses. If demand exceeds the slots
The Individual Student Research (ISR) program available, enrollment in field study seminar
presents an opportunity for an individual student courses is allocated by the same lottery process
to pursue in-depth study of a specific topic of used for traditional classroom-based EC courses.
interest under the close direction of a faculty
member. The benefits can be tremendous:
Because each ISR experience is limited to one
student you are bound to receive an exceptional
amount of faculty interaction and support.
13 | MBA PROGRAM 2005-2006 | the learning experience

HBS INITIATIVES
Many of the most important subjects in leadership and management are by definition interdisciplinary,

cutting across academic departments just as they cut across divisions within a company or institution.

To encourage and facilitate research and course development that creates new knowledge on the broad,

overarching themes that define today’s business reality, HBS sponsors Schoolwide initiatives in the fields

of social enterprise, entrepreneurship, leadership, and global business.

THE SOCIAL ENTERPRISE INITIATIVE THE ENTREPRENEURSHIP INITIATIVE

In their scale and leadership challenges, today’s At its best, a business school should be an • The entrepreneurship curriculum was introduced
nonprofit institutions are more like businesses than “incubator of ideas”—the resources and support at HBS more than 50 years ago. Entrepreneurial
ever before. At the same time, more and more HBS to explore new ideas and to learn how to take a management has become part of the first-year
graduates find themselves leading organizations company boldly into the future. Building on its Required Curriculum, while the second-year
outside the realm of private enterprise—whether as over 50-year history of research and teaching in Elective Curriculum includes nearly 20 courses
board members, as elected or appointed govern- the field of entrepreneurship, HBS recently gained on entreprenuership taught by more than 25
ment officials, or as leaders of ambitious nonprofits even more strength in the field with a major gift faculty members.
around the world. The Initiative on Social Enterprise from venture capitalist Arthur Rock, MBA 1951, • In 2005, the popular HBS Business Plan
is a collaboration of HBS faculty, students, alumni, which created The Arthur Rock Center for Contest will mark its ninth anniversary. The
and staff that leverages the School’s core strengths Entrepreneurship. Using tools from cases to contest gives second-year students the chance to
to promote excellence in the leadership of nonprof- business plan contests, HBS helps students under- put their learning to the test and submit their
it, private, and public-sector enterprises. stand how to inject an entrepreneurial spirit into business plans for evaluation in pursuit of prizes
established corporations, and enables them to test for the most promising ideas. Business plans are
Through a broad portfolio of activities, ISE creates their new business ideas in a risk-free environment. judged by a panel of professionals (venture
opportunities for dynamic learning between all Whether founding an Internet start-up or launching capitalists, entrepreneurs, etc.) and faculty.
sectors, strengthening the ability of individuals and a new restaurant, students have the freedom to fol- Prizes are awarded to the winner and the three
organizations to deliver social and economic value. low their inspiration and imagination while benefit- runners-up.
It promotes: ing from a deep collection of resources: faculty • The School’s California Research Center gives
• Groundbreaking practice-based research. advisors, access to technology and a network of HBS faculty and researchers access to the top
• Innovative educational programs and products for HBS alumni, and the diverse expertise of their companies in the uniquely entrepreneurial envi-
social enterprise organizations and their leaders. classmates. The Entrepreneurship Initiative gives ronment of Silicon Valley. Since its founding in
• Rich learning and service opportunities for the students several different ways to explore ideas and 1997, the center has spurred the development of
School’s MBA students, both in and beyond strategies for launching and managing successful dozens of new cases, ranging from the challenges
the classroom. entrepreneurial ventures. of very early-stage companies to people-related
• Programs for HBS alumni and other leaders to issues in start-ups. More than two-thirds of these
support lifelong engagement in social enterprise. up-to-the-minute cases are already being taught
in HBS classrooms.
14 | MBA PROGRAM 2005-2006 | the learning experience

THE LEADERSHIP INITIATIVE THE GLOBAL INITIATIVE

Students come to HBS not to become merely skillful For decades, the HBS curriculum has featured
managers of the comfortable status quo, but rather cases with international themes. Today, given our
visionary leaders of dynamic organizations. Led by a international student body and the overwhelmingly
core group of HBS faculty from the Organizational global nature of business, it is more important than
Behavior unit, the Leadership Initiative is a School- ever that HBS research and course materials reflect
wide effort to stimulate, coordinate, and enhance the reality on the ground in diverse country environ-
the most exciting new thinking on the subject of ments and probe complex cross-border and cross-
leadership, serving as a catalyst for cutting-edge cultural issues in business management. As Dean
research and course development. Projects and Kim Clark has said, “HBS is a global business
course development efforts under the umbrella of school that is based in the U.S.”
the Leadership Initiative aim to capture the realities
of leadership throughout the organization (not just Established in 1996, the Global Initiative is designed
at the CEO level) and also the challenges of leader- to increase the level of the School’s international
ship in context (across time and location). The research and course development, to ensure that HBS
core faculty collaborate and build alliances with is the leader in creating intellectual capital that has
individuals and organizations across the globe. international scope and impact, and to position the
School as an intellectual resource for leaders world-
wide. The Global Initiative has already helped increase
the depth and breadth of international faculty research,
expand the percentage of international cases, and
build the fundamental awareness that the United
States is only one of many sources of compelling lead-
ership ideas. Other goals include enhancing interna-
tional student recruitment and uniting alumni around
the world.

The lifeblood of the Global Initiative is the School’s

Global Research Centers, located in Silicon Valley,
Hong Kong (along with the Japan Research Office),
Buenos Aires, and Paris. Each center serves as a
springboard for research and course development—
opening doors for faculty, making it easier for them
to connect with key decision-makers, and building
long-term relationships with local universities,
governments, and companies. More than half of HBS
faculty conduct research overseas each year, and at
any given time, HBS researchers are at work in more
than 40 different countries.
15 | MBA PROGRAM 2005-2006 | the learning experience

THE HBS FACULTY

The roughly 200 men and women who make up the faculty of HBS represent an incomparable resource of
A great class discussion is
business acumen. In keeping with the School’s commitment to staying close to business practice, many one in which I say very little
while my students speak and
faculty members are business leaders, entrepreneurs, consultants, and board members. play off each other’s state-
ments. Each comment improves
But the hallmark of the HBS faculty—the thing our understanding of the
students remember and value most—is their
problem and helps identify
possible solutions. In the
extraordinary passion, commitment, and skill as
end, the group product will
teachers. Although they produce some of the most far exceed the individual
rigorous and influential business research in the product. Through this induc-
world and are constantly creating fresh case mate- tive process, students learn
rial from the wide-open fields of business, the far more than they would if
I simply lectured them about
skills of our faculty members truly come alive in
current best practices.
the classroom. They see their mission as educating Instead, I train them to ask
the next generation of executive leadership. the right questions. In
today’s world, answers have
Because of the intensely interactive nature of case- a short half-life, but the
based classes at HBS, you will know your profes-
questions endure.
sors—and they will know you—perhaps better than
William Sahlman MBA 1975
any instructor you ever had in college. HBS faculty Dimitri V. d’Arbeloff MBA Class of 1955
make a point of being available to students outside Professor of Business Administration
of class as well, whether answering an after-class
question, meeting in their office or over lunch, or
serving as an advisor for an entry in the Business
Plan Contest.
16 | MBA PROGRAM 2005-2006 | the community

community
At Harvard Business School, our campus
is not only a place to teach, but a place
that teaches, quietly communicating
fundamental lessons in quality, community,
and focus.

Overlooking the Charles River and the main Harvard

University campus, our 35 acres of graceful green
courtyards and stately red brick create a serene
space for a profoundly transformative education.

We believe our physical setting and facilities—

featuring a self-contained, residential campus—are
critical to fostering the strong sense of trust,
respect, and mutual understanding that encourages
learning inside and outside the classroom.
17 | MBA PROGRAM 2005-2006 | the community

RESIDENTIAL CAMPUS
About 60 percent of MBA students choose the convenience of living on campus, whether in
residence halls or University-affiliated apartments. Others typically find private or Harvard-sponsored
rental options in nearby communities. Regardless of where you choose to live, you will find the HBS
campus to be the heart of student life, a place for shared meals and joint study sessions as well as a
broad range of clubs and activities. Whether you hail from across the country or halfway around the
world, you are likely to feel at home in this remarkable community very quickly—giving you a
wonderful foundation for the deeply challenging experience of attaining your MBA.

FEATURES AND FACILITIES • Baker Library

The campus also offers outstanding facilities that Perhaps the most extensive and valuable
extend and magnify the quality of the classroom collection of business knowledge in the world,
experience. Some highlights: Baker serves the research needs of HBS faculty,
staff, and students, as well as the larger HBS and
• Spangler Center Harvard University communities. An extensive
Because the School has
Dedicated in 2001, Spangler Center is the heart renovation (to be completed in 2005) will make its own residential campus,
of campus life. Serving as the main HBS dining Baker’s vast holdings far easier to access and learning is constant, because
facility, its main-floor food court, dining room, provide state-of-the-art facilities and resources, you’re always spending time
and sunny terrace offer a wide variety of food while preserving the gracious architecture dear with your classmates, sharing
options. Downstairs, the Grille—complete with ideas and thoughts. The
to generations of HBS graduates.
classroom extends throughout
TVs, a fireplace, and a pub—offers a fun, relaxed
the campus.
atmosphere for a casual snack and socializing. • Shad Hall
Other Spangler features include 29 project rooms This on-campus fitness center for the HBS Danielle Hootnick MBA 2004
with Internet connections; a 350-seat auditorium community boasts an indoor walking/jogging track;
with a state-of-the-art media and presentation sys- three basketball courts; racquetball and squash
tem; a wireless local-area network (LAN); and the courts; two aerobics studios with classes ranging
elegant comfort of the reading room—a place for from spinning to yoga to kickboxing; a sizable
study, reflection, and camaraderie. On Spangler’s cardiovascular equipment area and a strength
lower level you will also find a Harvard bookstore, a equipment area; men’s and women’s locker rooms
copy center, the campus post office, telephones, complete with whirlpool, steam, and sauna rooms;
ATMs, Student Association offices, and the course and a team of personal trainers.
material distribution center.
18 | MBA PROGRAM 2005-2006 | the community

HOUSING OPTIONS
When it comes to choosing something as personal as housing, every student has a unique set of life

circumstances, needs, and desires. HBS offers a range of options no matter what your situation and priorities.

ON-CAMPUS RESIDENCE HALLS OTHER HOUSING OPTIONS,

More than a third of the student body lives in our six ON AND OFF CAMPUS
on-campus residence halls. Because they are literally For some students, living off campus makes the
steps away from our classrooms, the library, and the most sense. In particular, students whose spouses,
central dining and fitness facilities, these dormitories partners, or families will be living with them while
offer a seamless link between living and learning. they complete the MBA Program will need to find
accommodations outside our residence halls. If you
All residence hall rooms are furnished and have prefer for any reason not to live in a residence hall
direct, high-speed Ethernet access to the Internet. during your time at HBS, you will find the Harvard
Other features include laundry facilities, housekeep- University Housing Office a helpful resource in locat-
ing services, and a common lounge with a television ing housing that suits your needs, either within the
and piano. Living in a residence hall also frees you extensive pool of University-affiliated housing or
from the common chores associated with living off through the local market in private rentals and sales.
campus, such as commuting, maintenance,
12-month leases, and shoveling snow. For more options and detailed information about
Harvard-affiliated housing, please refer to the
Harvard University Housing website.
19 | MBA PROGRAM 2005-2006 | the community

GLOBAL COMMUNITY
If it is now a cliché that business is relentlessly global, it should be obvious why our student body

represents more than 70 countries and our faculty 30. Along with alumni who live and work around the

world, the spirit of diversity—in opinion, in style, in culture, in everything—pervades and enriches every

aspect of campus life.

PROFILE OF THE CLASS OF 2006 CLUBS

Demographics Student clubs and activities are a vital part of
Women 34% campus life, strengthening our community and
Minorities 22% extending many lessons beyond the classroom.
International 32% Through nearly 80 official clubs, students find
Median Age 27 diverse opportunities to relax and reflect, to deepen
friendships begun in class and to meet people from
Undergraduate Majors: outside their section, to enjoy long-standing
Humanities/Social Sciences 38% interests and explore brand-new ones, to refine their
Engineering/Natural Sciences 29% leadership experience and even help define their
Business 23% careers. Clubs also sponsor a range of athletic and
Along with the incredible
Other 10% social events as well as speakers and conferences. opportunities that HBS offers,
there comes a tremendous feel-
GETTING INVOLVED You can learn about the whole array of campus ing of responsibility. Having
Earning your MBA is a demanding experience—but organizations through the annual club fair, and you grown up in the developing
almost all students find time to explore and connect may join a club at any time as your interests develop
world, I am particularly
with one or more extracurricular groups on campus, sensitive to disparities that
or change. HBS also offers an organization—the
exist. For me, business is the
from club sports to the Student Association. HBS Partners Club—geared to the personal and means to help bring about
professional interests of students’ spouses and positive social change.
significant others.
Shaan Kandawalla MBA 2004
20 | MBA PROGRAM 2005-2006 | the community

HBS CLUBS 2004-2005

PROFESSIONAL INTEREST CLUBS Middle East and North Africa Club

Business and Environment Club Midwest Student Association
Business, Industry and Goverment Club South Asian Business Association
Business of Sports Club Southeastern Club
Consortium on Global Leadership Texas Club
Energy Club
Entertainment and Media Club PERSONAL AFFILIATION CLUBS
Entrepreneurship Club African-American Student Union
Finance Club Armed Forces Alumni Association
Global Outsourcing Club Art Appreciation Society
Healthcare Club Catholic Student Association
High Tech and New Media Club Christian Fellowship
Hospitality and Travel Industry Club Democratic Club
International Business and Development Gay, Lesbian and Bisexual Student Association
Investment Club Islamic Society STUDENT GOVERNMENT
JD/MBA Association Jewish Student Association As the official channel of communication connecting
Leadership & Ethics Forum Latino Student Organization the MBA student body with the faculty and adminis-
Luxury Goods and Design Business Club Latter-Day Saints Student Association
tration, the Student Association (SA) works jointly
Management Consulting Club Partners’ Club
Marketing Club Republican Club with the administration to act on student feedback,
Negotiation Club Sushi Club plan social events, and, through SA ventures,
Operations Management Club Wine & Cuisine Society provide services to make the student experience as
Public Speaking Club Women’s Student Association rewarding and enjoyable as possible. All members
Real Estate Club
of the MBA student body are also members of the
Retail & Apparel Club SPORTS CLUBS
Social Enterprise Club Basketball Club Student Association. The SA copresidents and CFO
Sustainable Development Club Boat Club are elected by the first-year student body each
Trek Club B-School Blades spring, as are members of various SA committees.
Turnaround Club Golf Club
Venture Capital & Private Equity Club Outdoors Club
Volunteer Consulting Organization Rugby Football Club
Volunteers Running Club
Sailing Club
REGIONAL INTEREST CLUBS Ski and Snowboard Club
Africa Business Club Soccer Club
Asian American Business Association Squash and Tennis Club
Asia Business Club Triathlon Club
Australian and New Zealand Club Volleyball Club
Canadian Club
Caribbean Business Club HBS ORGANIZATIONS
Club Latinoamericano HBS Show
Eastern European Association Heard on the Street
European Club She-E-Os
21 | MBA PROGRAM 2005-2006 | the professional transformation

transformation
An MBA education at Harvard Business
School is deliberately intended to be a
life-changing experience, one that will
shape your professional identity and
influence your thinking for the rest of
your life.

The transformation begins even before you arrive on

campus, during prematriculation, and continues
throughout your two years here. But in an important
sense, the professional transformation you begin at
HBS is never really over. The lessons you absorb—
in solving problems, identifying opportunities,
listening to others, and responding creatively to
change—will help you define, achieve, and redefine
your career and personal goals throughout your life.
22 | MBA PROGRAM 2005-2006 | the professional transformation

CAREER DEVELOPMENT AT HBS

HBS can be a springboard to virtually any type of career—and the process starts long before you earn your

degree. The School offers an extensive array of tools and services to help define your strengths and interests,

research appropriate opportunities, connect with organizations and alumni who can assist, and find the right

place for you.

Some of these resources include: personalized, one-on-one guidance and support in

defining your interests and skills, preparing for
• Self-Assessment through Career Leader interviews, identifying target organizations,
Based on years of research into the relationship creating a customized networking strategy, and
between individual personality and finding landing a great job. To maintain continuity, you
rewarding work in a business setting, Career have the option of working with the same career
Leader is an innovative tool developed by HBS coach from your first semester right through
faculty and staff to help students assess their graduation, and you can meet whenever you need
talents, interests, values, and personal style to to, as often as you like.
find a match with the right industries and career
paths. Career Leader is now used by more than • The Job Bank
180 MBA programs around the world. HBS students can access a world of opportunities
online: 1,000 recruiting partners organized by
The self-assessment process begins before you industry, location, and function preferences;
arrive on campus, as you complete your own recent articles in major newspapers and maga-
“personal inventory” online. During the first weeks zines about target firms; and information on
of class, you will use Career Leader to interpret alumni and fellow students who have experience
your results, with the help of individual career in areas or companies of interest. You can also
counseling sessions and faculty input. You also apply for jobs and schedule interviews online. interview, learn about internship and job opportu-
have the option of participating in Career Teams, nities, explore a new city—and accomplish weeks
small groups led by second-year students that • Treks of legwork in just a few days. Past destinations
allow for further career exploration. Every year, MBA Career Services and a team of have included Silicon Valley, Chicago, Boston,
students organize career exploration trips to New York, Los Angeles, London, Denver, Tokyo,
• Mentoring and Coaching key areas throughout the world. Also known as Miami, Seattle, and Austin. Treks to other
Thanks to a recent expansion in our staff of highly “treks,” these trips enable students to meet with destinations may be possible based on the level
experienced career coaches, you can expect leading companies, attend networking events, of student interest.
23 | MBA PROGRAM 2005-2006 | the professional transformation

• Networked Job Search • Networking Events

HBS offers a comprehensive program to help HBS students have hundreds of opportunities to
students uncover opportunities at companies that attend networking events throughout the school
may not traditionally recruit MBA graduates. year, such as Executive Education Mentorships,
Services include individual job postings, work- which introduce students to senior executives
shops, student and alumni panels, networking from leading international firms who provide
receptions, and faculty seminars. career advice, and Club Career Events, ranging
from speakers to workshops and career fairs, held
• Alumni Advisory Network annually by 30 industry-specific clubs.
One of the most extensive MBA networks in the
world, the Alumni Advisory Network includes • Career Resources at Baker Library
over 35,000 alumni who have committed to Career resource librarians provide HBS students
serve as career advisors, providing HBS students with the information for a successful job search,
with invaluable mentoring and networking oppor- along with individual counseling sessions and
tunities in every industry and major city around industry-based workshops. Because the School
the globe. makes a significant investment in career manage-
ment, it offers students tremendous resources for
efficiently identifying companies to target and
gaining the information to develop successful
connections with them.
In his autobiography, Colin
Powell describes leadership as
“the art of accomplishing more
than the science of management
says is possible.” I believe
that HBS is preparing me to be
a leader who can make the type
of impact that does not always
seem possible.

Elliott Rodgers MBA 2004

24 | MBA PROGRAM 2005-2006 | the professional transformation

JOB STATISTICS
HBS graduates are valued by leading companies and organizations around the globe, and are equally

respected by emerging enterprises. Just as there is no one “right” path that leads to the door of HBS,

there is no one typical for our graduates, as the following charts make clear.

CLASS OF 2003 EMPLOYMENT BY LOCATION CLASS OF 2003 EMPLOYMENT BY SIZE OF COMPANY

12% U.S. WEST COAST 35

6%
SAN FRANCISCO BAY AREA 30

25
49% U.S. EAST COAST
13% 20
BOSTON 14% U.S. CENTRAL STATES
23%
15
NEW YORK CITY

10

10% EUROPE
5

5%
0
5% ASIA/SOUTH PACIFIC 25 26 101 1,001 5,001 OVER
TEXAS 5% OR TO TO TO TO 10,000
OTHER FEWER 100 1000 5,000 10,000
INTERNATIONAL

CLASS OF 2003 EMPLOYMENT BY FUNCTION CLASS OF 2003 EMPLOYMENT BY INDUSTRY

15% 13%
GENERAL MANAGEMENT INVESTMENT BANKING

5%
37% 23% HEALTH CARE/BIOTECH
FINANCE CONSULTING
7%
24% HIGH TECH
CONSULTING
9%
INVESTMENT MANAGEMENT

24% 8%
OTHER OTHER FINANCIAL
5% SERVICES
OTHER 11% 11%
7%
MARKETING VENTURE CAPITAL /
BUSINESS
PRIVATE EQUITY
DEVELOPMENT
25 | MBA PROGRAM 2005-2006 | the professional transformation

THE ALUMNI NETWORK

For HBS, “community” is not something you lose when you say goodbye to the campus on commencement

day. Community is the enduring feeling of shared values and intellectual standards, of mutual respect, and of

common experience that makes our alumni network so strong and keeps the turnout for our reunion classes

amazingly high.

Graduates of HBS are members of the world’s most The School also provides a host of career manage-
effective alumni network: 65,000 business leaders ment services to alumni, including counseling and
in over 130 countries who maintain lifelong bonds job search resources, so that it continues to serve
to their classmates as well as to the School. as a “home base” for alumni as they make their
Throughout your career, fellow HBS alumni are journey through life.
always willing to help you take the next steps in
your professional journey. LIFELONG LEARNING
If the case method is an instruction in how to live
HBS alumni currently comprise about 20 percent and work, our graduates consistently report that the
of the top three executive positions of Fortune 500 longer they live and work, the more they seek mean-
companies. Growing numbers of HBS alumni are ingful, practical ways to relearn those lessons and
also choosing less established paths to success; tap into the intellectual wellspring of HBS.
more than a third describe themselves as being HBS provides us the oppor-
self-employed or active in entrepreneurial ventures, Capitalizing on the latest technological possibilities, tunity to sit in a classroom
while a significant number are involved in non- HBS offers a range of convenient and effective with people from so many
traditional business activities. And nearly half of channels for lifelong learning for our graduates, as countries who inform our
the School’s alumni clubs and associations are well as other leaders around the world. Resources understanding of the issues
include HBS Working Knowledge, an online that face their homes. I’ve
outside the United States. These clubs sponsor
realized how small a slice of
continuing education programs with visiting faculty, newsletter highlighting the newest ideas emerging
global life I’d experienced
conduct seminars on career strategy, and offer a at HBS; the latest research publications from HBS and how many things exist
host of social events throughout the year. faculty, many available through the HBS website; about which I’d like to
and eBaker, a collection of some of the Web’s know more.
To keep the Alumni Network flourishing, HBS holds best resources for the business world. HBS also
an annual Global Leadership Forum to bring alumni offers a range of Executive Education programs— William D. Rahm MBA 2004
together to network and discuss business issues, intensive on-campus immersions in the HBS
and reconnect with the School and with each other. classroom experience.
Past conferences have been held in Berlin, Cape
Town, Cleveland, Chicago, and Hong Kong.
26 | MBA PROGRAM 2005-2006 | admission

admission
In keeping with our commitment to
educating leaders, Harvard Business
School assesses every applicant’s potential
to lead effectively. We carefully evaluate
each candidate’s academic abilities, lead-
ership experience, and personal qualities
and characteristics, while also aiming to
create a diverse class.
Around 7,500 individuals applied for 900 places
in the Class of 2006. During the highly selective
admissions process, we look for individuals who will
both contribute to and take full advantage of the
MBA Program.
27 | MBA PROGRAM 2005-2006 | admission

WHAT WE LOOK FOR IN ADMISSIONS

The Admissions Board invites prospective applicants to apply after gaining meaningful leadership experience.

However, we do not require a set number of years in the workplace, and we encourage applicants to apply as

soon as they think they are ready. Although most students apply to HBS after a number of years in the working

world, others choose to come directly from college. In either case, our students’ practical experiences in

leadership—whether through extracurricular activities or on-the-job challenges—enhance their ability to gain

from the curriculum and deepen the education of their fellow students.

APPLICATION REQUIREMENTS THE APPLICATION PROCESS APPLICATION DEADLINE DATES

To be considered for admission, you must: As you prepare to apply to HBS, it may help to Each year, we conduct the application process in
1. Complete a four-year undergraduate program at understand what we look for in prospective candi- three rounds. The following are the deadlines for
an accredited U.S. college or its equivalent in dates. In evaluating your application, we look for the MBA class entering in fall 2005:
another country. three qualities:
APPLICATION MATERIALS SUBMITTED NOTIFICATION DATE OF THE
2. Submit the complete HBS application portfolio, ONLINE BY 5 P.M. EST: BOARD’S DECISION:
including personal essays, academic transcripts, 1. Academic Abilities
Wednesday, October 13, 2004 Wednesday, January 19, 2005
and three letters of recommendation. All Because the MBA Program is personally and intel-
applications must be submitted online. lectually demanding for even the best-prepared Wednesday, January 5, 2005 Wednesday, March 30, 2005

3. Provide your scores from the Graduate students, we look for candidates who clearly have Wednesday, March 9, 2005 Wednesday, May 11, 2005
Management Admission Test (GMAT). the academic skills and discipline to succeed.
4. Candidates from non-English speaking countries 2. Leadership Experience
WHEN SHOULD I APPLY?
are required to take the Test of English as a Since our mission is to educate leaders who
Due to the high volume of applications we receive,
Foreign Language (TOEFL) and/or the make a difference in the world, we are keenly
candidates are encouraged to submit their applica-
International English Language Testing System interested in how you have demonstrated leader-
tion as early as possible. By the third round there
(IELTS). Scores more than two years old will not ship, formally and informally, in college, in your
are simply fewer available spaces in a given class.
be accepted. extracurricular interests, and in the workplace.
In addition, candidates applying in the first and
3. Personal Qualities and Characteristics
second rounds will find it easier to meet deadlines
Because our MBA curriculum is fast-paced and We are looking to learn about the personal quali-
for applying for financial aid and housing and will
rigorously analytical, we strongly encourage all ties and characteristics that have contributed to
naturally have more options in choosing a place to
applicants to complete introductory courses in your success as a leader and to understand how
live. Applying early is a particularly good idea for
quantitative subjects such as accounting, finance, you intend to use the MBA experience to reach
international candidates, since it allows more time
and economics before coming to HBS. For some can- your career goals. We seek candidates who have
to deal with practical details of studying abroad.
didates, we may make admission contingent upon the highest ethical standards and respect for
their completing such courses before they enroll. others, and who will be actively engaged in the
educational process. In our learning model,
students teach as they learn, so a commitment
to teaching and learning is essential.
28 | MBA PROGRAM 2005-2006 | admission

Overall, applying earlier gives candidates more time CAMPUS VISITS Because we may require certain applicants to
to address the following: The best way to see if HBS is right for you is to visit attend intensive English courses before enrolling, it
• International candidates may need additional the campus and observe a case-based class in is a good idea for international candidates to apply
time to arrange for their visas, housing, and action. Before you make any travel arrangements, as early as possible, to allow time for further
financial aid and to work on their English please register online for a class visit. Once you English preparation.
proficiency. arrive on campus, please check in first at the MBA
• Some candidates may be required to complete Admissions reception desk in Dillon House. COLLEGE STUDENTS AND RECENT COLLEGE
preliminary coursework prior to their enrollment. GRADUATES
• Many deadlines for outside (non–Harvard Business Every week throughout the year, student admissions Many prospective students wonder: When is the
School) fellowships are in early spring. Only counselors and MBA Admissions staff also offer "right time" to pursue an MBA? Is work experience
students who have been accepted are eligible for on-campus group information sessions about the necessary? Can I apply while completing my under-
these fellowships. MBA Program and answer any questions visitors graduate degree? What is the ideal age?
• Financial aid decisions are made only after a may have. Please refer to our website at
candidate has been admitted. Knowledge of www.hbs.edu/mba. There is no minimum age or work experience
your financial aid award may help you make required to apply to HBS; we advise you to assess
important decisions. A SPECIAL NOTE FOR your own readiness. If you are a fast-track college
• Housing is very competitive and both Harvard INTERNATIONAL APPLICANTS student or early in your career, and have already
Business School residence halls and Harvard HBS welcomes applications from candidates around demonstrated a high potential for leadership—we
University–affiliated apartments are assigned the world. The MBA Program currently includes the urge you to consider what HBS has to offer.
by lottery. Deadlines for both of these housing perspectives of students from around 70 nations— Pursuing an MBA early in your career can increase
options are in early spring, and you must be and about one-third of the students in the Class of the long-term possibility for personal, professional,
admitted to HBS before you can enter these 2006 are citizens of countries other than the and financial growth. This could be the perfect
lotteries. United States. opportunity to jump-start your career aspirations.

INTERVIEWS Because the case method requires students to What are we looking for? What we value most is the
Interviews are a very important part of the applica- follow and participate fluently in dynamic classroom content, quality, and impact of your experience.
tion process. Because of the size of our applicant conversations, as well as to submit sophisticated We look closely at your personal achievements,
pool, interviews are by invitation only. Every candi- written work, candidates must be highly proficient leadership potential, academic ability, and
date we admit is interviewed. In order to gather in speaking, writing, and understanding spoken demonstrated excellence. New or recent college
more information after applications have been English. Applicants from non-English-speaking graduates are accepted to HBS each year, and their
submitted and reviewed, the Admissions Board may countries must take the Test of English as a perspectives enrich classroom discussions, offering
choose to invite an applicant to interview on cam- Foreign Language (TOEFL) (unless they received a refreshing balance that enhances the learning
pus, by telephone, or with an alumni representative. their bachelor’s degree from an English-medium process. If you believe you have the talent we are
university), and we strongly encourage them to take looking for—don't wait!
the Test of Written English (TWE) as well.
29 | MBA PROGRAM 2005-2006 | admission

What you can do while in school: • Prepare your financing: This is a large investment, FOR MORE INFORMATION
• Choose your own path (classes, majors). start saving now and look into multiple financing If you would like to be included in our database,
• Although there are no prerequisites, analytical and options. to be notified of events in your area sponsored by
quantitative courses will help you. • Consider and communicate: What makes you the Admissions Office, please go to our website
• Seek out leadership opportunities of all kinds. unique compared to other applicants? What will at www.hbs.edu/mba.
• Take the GMAT. you contribute to the class? How will you make a
• Look for internships that will broaden your big impact to society in the long term?
experiences.
Special policies for College Seniors
What you can do while at your first job: (i.e., applicants currently enrolled in a four-year uni-
• Choose your own path (no preferred companies or versity or the equivalent with no full-time work
industries). experience)
• Seek opportunities to lead and differentiate your
self at your firm. 1. Deferrals/Postponements:
• Stay connected with your community (professors, Admitted college seniors who feel they would
managers, mentors, peers). benefit from some full-time work experience prior
• Take the GMAT to enrolling may request either a one or two year
• Begin thinking about your essays. postponement after admittance. The Admissions
Board may also grant deferred admission to co-
Applying to business school: lege seniors whom we feel would benefit from and
• Do your research (visits, Web sites, articles, talk contribute to the MBA Program after some full-
to alumni). time work experience.
• Determine for yourself what you want to get out of
an MBA and prioritize program specifics (e.g., 2. Fee Waiver:
geographic location, class size, program length, The $215 application fee will be waived for
learning model, faculty involvement)-then pick college seniors (i.e., applicants currently enrolled
schools that fit with your criteria. in a four-year university or the equivalent with no
• Give yourself sufficient time to submit a thorough full-time work experience).
and thoughtful application: form, transcripts, re-
ommendations, GMAT, interview, work experience, 3. Feedback:
community experience, and leadership experience. Feedback will be provided by request (in the
• Convey self-awareness via essays and interviews summer following the application cycle) to any
regarding your career direction and personal goals. college senior who has been denied admission.
30 | MBA PROGRAM 2005-2006 | admission

FINANCIAL AID COST SUMMARY

The Harvard Business School MBA Program is To help you understand the costs associated with
need-blind in its candidate selection process. This your education, the class entering in 2004 student
means we have no knowledge of a candidate’s budget for Terms I and II is outlined below. While
financial situation when they apply for admission. living expenses vary from student to student, the
Once admitted, students then apply for financial Financial Aid and Fellowship Board uses the
aid. All students who are admitted to the HBS MBA standard student budget in determining financial
Program are guaranteed access to financing to aid awards. This budget assumes a moderate
cover the entire student budget. Although students student lifestyle. Your tuition and Program and
are encouraged to draw on personal resources Technology fee will remain constant during your
wherever possible to minimize debt, approximately time at HBS. Other fees may increase. Please
70 percent of HBS students receive financial aid. note that eligibility for student aid is based on
the single student budget.

EXPENSES SINGLE STUDENT MARRIED STUDENT MARRIED STUDENT MARRIED STUDENT

WITH ONE CHILD WITH TWO CHILDREN

Tuition $35,600 $35,600 $35,600 $35,600

University Health $1,264 $2,854 $4,116 $4,116

Services Fee

Blue Cross/Blue Shield $1,448 $3,264 $3,500 $3,500

Program and $3,500 $3,500 $3,500 $3,500

Technology Fee

Room and Utilities $11,270 $13,670 $17,820 $17,820

(9 months) ($1,252/mo.) ($1,519/mo.) ($1,980/mo.) ($1,980/mo.)

Board, Personal, and $11,018 $14,012 $18,344 $22,344

Other Expenses (9 months) ($1,224/mo.) ($1,557/mo.) ($2,038/mo.) ($2,483/mo.)

TOTAL $64,100 $72,900 $84,100 $88,100

31 | MBA PROGRAM 2005-2006 | admission

LOAN PROGRAMS schools with similar cost and financing structures— FINANCIAL AID APPLICATION PROCESS
Most financial aid received by HBS students is in eliminates access limitations based on citizenship Upon admission, all students will have access to
the form of loans. Loans carry a legal obligation to and creditworthiness, hurdles that have discour- the HBS Intranet site containing a financial aid
repay principal and interest under a defined repay- aged a number of qualified candidates from apply- application and instructions. After you submit an
ment schedule. All students will receive detailed ing in the past. However, educational loans are gen- application for aid, the Financial Aid and
information about this option once admitted. erally unavailable to students who are or who ever Fellowship Board will review your eligibility for
have been in default of an educational loan. loans and fellowships for the first year and send
There are three basic types of loans available for Although students have the freedom to borrow from you an award letter.
HBS students: any lender, we believe that the customized
• Federal loans (Federal Direct Stafford/Ford Loans CitiAssist loan is an excellent option for our Financial aid is awarded to students based on the
and Federal Perkins Loans) are currently available students—guaranteed loan approval, a competitive cost of the program and their ability to contribute.
to qualified students who are U.S. citizens or interest rate, and no fees. A student’s expected contribution is based on their
permanent residents. available resources, which include savings, invest-
• The CitiAssist Loan Program is available to all FELLOWSHIPS ments (stocks, bonds, annuities, and employee
HBS students regardless of nationality. No There are both external and internal sources of fel- benefit plans), IRA accounts (after-tax value), trust
cosigner is required. lowships for those seeking assistance. Fellowships funds, after-tax earnings for the student and his/her
• Subsidized HBS loans are available to students differ from loans in that they are primarily need- spouse, GI or Social Security benefits, home
with demonstrated financial need. based and do not require repayment. equity and other real estate equity, income tax
refunds, outside grants and loans, and parental/
THE C ITI A SSIST LOAN PROGRAM Harvard Business School Fellowship Program family contributions.
HBS believes that no admitted student should be HBS Fellowships are granted to those students with
unable to attend the MBA Program simply because the highest levels of financial need. The maximum Given the rigorous pace and range of educational
he or she cannot obtain financing. In the past, fellowship will cover one year’s tuition, the Program activities of our program, students should not plan
access to private loan programs was generally limit- and Technology fee, and the health insurance fee to be employed during the academic terms.
ed to U.S. citizens and permanent residents with a for a single person. Our ability to award fellowships
strong credit history. In an effort to find more flexi- enables the School to attract the very best students
ble options, HBS finalized an agreement in 1998 regardless of financial situation. Fellowships are
with the Student Loan Corporation (a subsidiary of made possible through the generous support of our
Citibank) under which Citibank would be granted alumni and friends who share HBS’s commitment
preferred lender status with our MBA students. and desire to invest in our students.

Under the terms of the CitiAssist Loan Program, all Fellowships from Outside Sources
HBS students will be guaranteed loan approval, A thoughtful search of outside fellowship sources will
without a cosigner and regardless of nationality. The help to minimize your reliance upon debt financing.
maximum loan amount is the cost of attending HBS Many corporations, government enterprises, profes-
less other financial aid and sponsorship. This sional associations, and foundations have offered
arrangement—unique to HBS among business fellowship funds to HBS students in the past.
32 | MBA PROGRAM 2005-2006 | admission

WAYS TO LEARN MORE ABOUT HBS • Spouses/partners of current students are

available to answer questions you (or your
As you explore the many facets of the MBA Harvard Business School
spouse/partner) might have regarding life
Program at Harvard Business School, we MBA Admissions
at HBS.
encourage you to connect with members of our Dillon House
[email protected]
community. If you cannot visit campus (or if Soldiers Field
you just want to connect with current HBS Boston, Massachusetts 02163
Administrative Contacts
students and/or MBA Admissions representatives USA
• All general questions regarding the MBA
through e-mail), please feel free to contact the Program and admissions process answered by
following resources. All questions regarding Telephone: 617.495.6127
members of the HBS Admissions Team.
admissions policies or procedures should be Facsimile: 617.496.9272
[email protected]
directed to the administrative contacts. E-mail: [email protected]
www.hbs.edu/mba
• Questions regarding financing your education
Student Contacts
at HBS.
• HBS Women’s Student Association (WSA)
[email protected]
[email protected]

• Questions regarding scheduling a class visit.

• African-American Student Union (AASU)
[email protected]
[email protected]

• Latino Student Organization (LASO) Thank you for your interest in the Harvard
[email protected] Business School MBA Program. We offer
exceptional students the opportunity to work
• Students from over 70 countries are available
Harvard Business School must reserve the right to make changes
hard and grow personally and professionally,
to provide perspectives on the international
affecting policies, fees, curricula, or any other matters cited in
student experience. Include the country or in an extraordinary educational environment—
this publication.
region you are interested in within the a place to define your aspirations and prepare
In accordance with Harvard University policy, Harvard Business
“subject” line of your e-mail. School does not discriminate against any person on the basis of race, to achieve them. We look forward to getting to
[email protected] color, sex, sexual orientation, religion, age, national or ethnic origin,
know you as you pursue the application process.
political beliefs, veteran status, or handicap in admission to, access
to, treatment in, or employment in its programs and activities. In
• Armed Forces Alumni Association (AFAA) addition, inquiries regarding the application of nondiscrimination
policies regarding race, color, national or ethnic origin, age, sex, or To learn more about whether HBS might be
[email protected]
handicap may be referred to the Regional Director, Office of Civil
Rights, U.S. Department of Education, J.W. McCormack POCH,
right for you, please log on to our website:
Room 222, Post Office Square, Boston, Massachusetts 02109-4557. www.hbs.edu.
• For those of you who are considering a joint
JD/MBA Program. The campus is wheelchair accessible.

[email protected] ©2003 President and Fellows of Harvard College.