Why did you choose Rice Business?

Rice Business is in the center of a world-class city booming in innovation and entrepreneurship. Choosing Rice was an essential step toward the actualization of my professional objectives. While earlier experiences equipped me, a Rice education served as the launching pad I need to understand international and cross-functional level business complexities. The school’s approach of cultivating intuition through courses in highly sought-after areas (such as Strategy in Technology Ecosystems) and other stages of the entrepreneurial process will help build my managerial and entrepreneurial acumen. Rice’s emphasis on limited class size brings a fantastic opportunity to interact with intelligent peers, world-renown faculty, and industry-leaders.

What are you most proud of from your time at Rice Business?

Participating in the OwlSpark accelerator was a life-changing experience that will forever elevate my business/startup acumen. The summer program challenged me to take my start-up from ideation to launch. In the program I was able to perform customer interviews, obtain advice from mentors, hear from current entrepreneurs, and other professionals in the startup ecosystem, who all helped shape my way of thinking about customers and scaling a business. 

How has your Rice helped you in your career?

Rice Business’ #1 ranking in entrepreneurship is no coincidence. I came into this program as a small business owner and through multiple courses that introduces different routes of entrepreneurship, I realized I no longer wanted to be a “builder” going through the traditional startup journey, but an “opportunist” that wants to buy an existing business. While the buying process seems overwhelming, the professors were instrumental in guiding me through the selection, due diligence and transition processes via “hands on” experiences in and outside the classroom. Access to co-curricular resources such as the Lilie Lab – bringing entrepreneurs, innovators, and venture capitalist from various industries, offered opportunities to learn trailblazing practices and expand my professional network.

What advice would you give prospective students who are considering an MBA?

While business school could very well be the best next step, it is critical to engage in introspection — delving into the costs and benefits of an MBA. Doing so will help to clarify and ensure you can reap the rewards of whichever decision you make. Two questions an applicant should ask themselves when considering the MBA application Journey:

• What are your career goals?
  • Connect the dots between what you have done in the past and what you would like to do in the future. While doing this, think about how an MBA fits into the picture (and how to use your existing professional network and future school network to help in this effort).
• What type of experience do you want from your B-School experience?
  • Do you want the knowledge, skills, resources, and/or network? There is no general “right” answer – only what best fits your needs. As an example, I started my career as a small business owner with a business development background, but I knew I wanted to integrate technology into my firm and understand how to navigate the startup ecosystem. As an entrepreneur looking to pivot into venture capital, I acquired new skills and the cross-functional knowledge that I gain in business schools – in disciplines such as strategy, finance and operations – has been priceless. I was able to reach out to classmates and alumni for advice and be introduced to professionals who have been instrumental in my career pivot. 

What do you think organizations should do better to build a diverse, equitable and inclusive environment?

Rice should engage in data collection and analysis to determine the need for change. Secondly, design and implement a strategy alongside current faculty, staff and alumni to match university objectives. Lastly, evaluate and audit the plan. 

What suggestions do you have to work with allies within the workplace or at school?

Allies need to be educated and trained on microaggressions. Specifically, how they can intervene in the moment – this is a crucial part of allyship. But in addition to intervening, learn how to support people who experience microaggressions, systemic inequities and other barriers to opportunity. One way to combat microaggressions is providing “microafffirmations” where an ally can affirm someone’s identity; recognize and validate their experience and expertise; build confidence; develop trust; foster belonging; and support someone in their career. Microaffirmations can help mitigate and disrupt the harmful effects of historical oppression, systemic inequity, cultural marginalization and personal biases (Melinda Epler, 2021).

Why did you choose Rice Business?

Aside from my outstanding experience at Rice University’s Diversity Preview Weekend, the stature of Rice’s Real Estate and Entrepreneurship programs played a significant part in my decision to apply to – and ultimately choose – Rice. As someone who aspires to make a transition into commercial real estate development and eventually start his own development firm, I wanted to be submersed in an environment that would regularly expose me to industry leaders so that I could learn how to not only start my own venture, but also scale it to a level of sustained success and impact in the communities that I hope to serve.

What are you most proud of from your time at Rice Business?

My proudest moment as an MBA student thus far has been successfully juggling external real estate opportunities while also being a Full-Time MBA candidate. Although being in business school is a demanding endeavor, with intentional prioritization and planning I’ve learned that you can leverage your MBA network to also explore auxiliary prospects that can exponentially transform your career and/or entrepreneurial trajectory. 

How has your Rice helped you in your career?

Rice immediately transformed my career trajectory by showing me the true power of a network. Prior to my business school experience, I was aware that one’s network could be of value, but I never truly understood the magnitude of that notion until stepping foot at Rice Business. From the various diversity networks that I am a part of (Toigo, Consortium, Management Leadership for Tomorrow) to being surrounded daily by such dynamic and successful colleagues at the business school who hold powerful connections from their past lives; I know that at any point in time I am only one or two connections away from reaching anyone of influence.

What advice would you give prospective students who are considering an MBA?

Although most will prioritize the quantitative aspect of the MBA admissions process when soliciting advice (ex. GMAT), the qualitative component of one’s candidacy to Rice Business is also of utmost importance. Rice Business prioritizes authentic individuals who seek to make impact through a collaborative work style and who are genuinely excited about Rice and all it encompasses. Those seeking admission into the Jones Graduate School of Business should be sure to refine their “why,” regarding not only their desire to enroll in a Top-25 business school but Rice in particular. In doing so, I’d recommend providing examples in your application highlighting life experiences that are unique, genuine and that can attest to your motivations for attending business school and this institution specifically. By refining your “why,” a candidate not only furthers their application, but also now has a motivational goal post to reference when enduring a rigorous course load throughout their matriculation. 

What do you think organizations should do better to build a diverse, equitable and inclusive environment?

One simplistic, but dynamic change that organizations can do to better build a diverse, equitable and inclusive organization is to fundamentally shift the order in which they prioritize the three elements of diversity, equity and inclusion to make sure that equity stands at the forefront. Organizations can accomplish this by first acknowledging that societal inequities exist within their firm – unintentionally or not – then clearly outlining motivations and establishing concrete goals; attempts for diversity and inclusion will be more sustainable and accepted at a higher clip within their organization with a well-established foundation. 

What suggestions do you have to work with allies within the workplace or at school?

Working with allies requires unfiltered and authentic safe spaces for communication. Only by creating a safe haven for idea generation, sharing of experiences and goal dissemination can the mission of the group and their allies be accomplished. 

In addition, allies should be treated as equal-bodied constituents whose opinions are valued and not belittled due to their “ally” status. When allies are treated as equals, they possess an added level of commitment and responsibility to the cause, above and beyond what they would have had if thought of as simply an accessory to a mission. 

Why did you choose Rice Business?

I chose Rice Business as a 12th grader at Yates High School here in Houston. After attending MLT in the Anderson Family Commons that year, I knew that Rice Business was the best program in my favorite city and one of the very best in the world. I never doubted that this program would be the most efficient and effective path to my goals.

What are you most proud of from your time at Rice Business?

So far, I am most proud of the way I’ve been stretched beyond my known capacities while also leveraging my strengths. I’m also most proud of the relationships I’ve built with some incredible classmates and schoolmates.

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How has your Rice helped you in your career?

Rice Business has helped to give my career some direction and a more strategic plan. Before Rice Business, I knew what I wanted my end result to be. Now, I know exactly how to get there.

What advice would you give prospective students who are considering an MBA?

Don’t think about it. Just go for it. It’s worth every moment and any penny you may invest. The relationships and the type of learning that occurs cannot be achieved anywhere else. What the experience means for your future is both invaluable and incalculable.

What do you think organizations should do better to build a diverse, equitable and inclusive environment?

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It is impossible to build a diverse, equitable and inclusive organization and culture in one day, one month or one year. A great start would be for organizations to develop and implement comprehensive S.M.A.R.T. (specific, measurable, actionable, relevant and time-based) plans to ensure equity, diversity and inclusivity in leadership and decision-making. That is the only way to infuse those attributes into their organizational DNA.

What suggestions do you have to work with allies within the workplace or at school?

Make as many allies as possible by being the best ally you can be at school and in the workplace. Allies are the best way to maximize your chances of accomplishing your goals respectively and collectively.

Do you have any other comments or anecdotes you would like to share?

Being a member of one of the largest classes of African Americans to enter Rice Business is truly an honor. It is a testament to the school’s commitment to diversity, and it is sure to reap dividends. I look forward to helping the program continue that commitment and to adding to the legacy that continues to be built.

Based on research by Vikas Mittal

Life is full of intuitive leaps. Whenever we make a judgment or choice based on past experience, limited examples or case studies, we make assumptions to fill in the gaps in our knowledge. 

Consider someone who wants to lose weight. They might assume they only need to exercise for the pounds to disappear. They attribute 100% of weight loss to exercise, when in reality physical activity isn’t the only variable to consider. Instead, multiple factors could be at play, including diet, lack of sleep or even an underlying health condition. 

When you make intuitive leaps, you may wrongly attribute success to a single factor, when in fact many different factors may be driving an outcome. In this case, making an intuitive leap rather than considering all the factors may not lead to the desired outcome: significant weight loss.

It’s the same in business, where intuitive leaps run rampant. All too often, executives make intuitive leaps that end up derailing their strategy planning and negatively impacting business operations.

Take, for example, executives at the nursing homes we studied while researching “Focus.” The nursing homes were experiencing high employee turnover they needed to correct. After speaking with a few dozen employees, executives thought that higher pay would cut back on turnover. They had made an intuitive leap, assuming that pay was the sole driver of turnover. 

When executives stopped relying on intuitive leaps, they discovered many different factors causing turnover. They started to identify, analyze and prioritize these factors, which included promotion opportunities, respect from supervisors, flexible schedules and access to health insurance. Ultimately, they were successful at reducing turnover — and not by increasing pay. Had they relied on their intuitive leap, they would have spent money raising wages with no reduction in employee turnover.

Other businesses struggle with intuitive leaps, too. Often, the problem is that individual departments believe their lever is 100% responsible for solving a certain problem, such as lackluster sales. An HR executive might believe that to increase sales, the right solution is to get frontline employees more engaged. A sales executive, however, is adamant that the company has to hire more salespeople or adjust pricing. Someone in charge of product development might say product quality needs to be improved. The chief marketing officer may believe advertising will lift sales.

Intuitive leaps are unhelpful to strategic planning. In fact, they often lead to increased silos within a company. CEOs exacerbate this siloing tendency when they call for presentations from executives across departments on how they would contribute to strategy. 

To stop making intuitive leaps, executives must accept that their department alone can’t fully inform or deliver a company’s strategy. They must realize and embrace the fact that multiple factors are almost always at play.  This requires humility and the ability to look beyond their own department. 

For executives, the first step is to identify all factors driving a company’s strategic goal — say, increasing sales. Factors impeding sales might include having too lean a sales team, a low-quality product, an inadequate marketing campaign or even lack of distribution. 

Next, executives need to determine the relative weight of each factor in impacting sales. That’s where statistics come into play. Relying on statistical analysis rather than intuitive leaps tells executives how much weight each factor has in driving sales. To build a sound strategy, executives can rank the factors and focus their strategy on the top two or three. Almost always, the top two or three factors drive 70-80% of customer value. 

Decades of research have shown how these types of statistical models are better than humans at capturing and quantifying how multiple inputs connect to and inform an output. Used correctly, they can also get rid of intuitive leaps.

In one study, doctoral program admissions committee members used inputs like test scores and grade point averages to select students. Years later, when predicting students’ success, researchers compared experts’ assessments to that of a statistical model. 

The model better predicted success. It assessed the data in an unbiased way, while committee members selected candidates based on intuitive leaps, bringing their idiosyncrasies and biases to bear. It’s these types of models that make for effective corporate strategy.

Microsoft is a prime example of a company with leaders that consider multiple variables with an eye for prioritizing ones that drive customer value. Prior to 2014, when CEO Satya Nadella took the helm, CEO Steve Ballmer’s acquisition strategy was seen as more reactive than proactive. Nadella’s approach to acquisition was more “forward-thinking,” and he added to the company’s focus on the cloud and subscription services. He focused on providing tangible benefits to Microsoft’s customers.

Berkshire Hathaway CEO Warren Buffet does this, too. When Buffet bought California-based candy maker See’s Candies, he rightly understood that the quality of the company’s chocolates mattered. But it’s not the only factor at play. 

Unlike some executives who would make an intuitive leap that the chocolate drove 100% success, Buffet has the humility to understand the company’s success depends on much more than how its chocolates taste. Buffet knows a huge driver of customer value is people’s experience inside See’s stores. 

“In the weeks before Christmas and on Valentine’s Day, there are long lines. So at 5 o’clock in the afternoon, some woman is selling the last person the last box of candy, and that person’s been waiting in line for 20 or 30 customers. If the salesperson smiles at that last customer, our moat is widened,” he said in remarks to MBA students, referring to the company’s competitive advantage. “And if she snarls at him, our moat is narrowed… That’s the key. The total part of the product delivery is having everything associated with it say See’s Candy and something pleasant happening.” 

Buffet prioritized experience along with the quality of the chocolates, and he continues to do so. Since he bought See’s, the company has grown from $30 million in annual revenue to several hundred million. Humility enabled him to get rid of his intuitive leap and that drove success.

Why did you choose Rice Business?

Being a native Houstonian, I have known about the prestige of Rice University since elementary school. In my 5th grade memory book, I was asked where I would be after graduating high school, and I said, “at Rice University playing Football.” Even though that dream did not come to fruition, when I started looking at MBA programs, I already knew Rice would be at the top of the list. Once I visited the campus and spoke with admissions representatives and students, I was sold on the culture. Rice has an elite entrepreneurship program, small classes – and a small cohort that allow you to really connect. The familial culture permeates throughout the school, and it is in one of the most diverse cities in the U.S.

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What are you most proud of from your time at Rice Business?

I am proud of the way Rice students help to support each other. I have seen students unofficially tutor one another in courses they were familiar with and help each other prepare for case interviews, review resumes, cover letters and elevator pitches. I have also seen the applicable student organizations do everything in their capacity to help incoming students prepare for the recruiting process.

How has your Rice helped you in your career?

Rice has already helped tremendously with my career. Shortly after acceptance, Margaret Kazibwe, former Rice Business admissions, provided me with an opportunity to apply to the Consortium. After being accepted, I was able to attend the Consortium conference over the summer. Through the conference and with the help of the Rice Career Development Office, I was fortunate enough to receive multiple internship offers before I even started the program.

What advice would you give prospective students who are considering an MBA?

DO IT!! 

In all seriousness though, attending Rice is one of the best decisions I’ve made. You develop a new skillset and build a network that will follow you the rest of your career. I feel like I am constantly having stimulating and enjoyable conversations because I am surrounded by like-minded individuals with great personalities. We are all working towards a common objective while offering support and advice to each other. I would advise prospective students to just start the application. From there, they can reach out to the admissions office and current students to develop a better understanding of the school. Once they receive a decision letter, they can further evaluate whether they want to pursue the opportunity. I feel like a lot of prospective candidates talk themselves out of applying. In doing this, many decide against an MBA and limit themselves before even trying. I would advise that it is better to have the letter in hand and to be fully informed when making that final decision than to decide before even beginning the process.

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What do you think organizations should do better to build a diverse, equitable and inclusive environment?

I believe there are a few things organizations can do to build a diverse, equitable and inclusive organization. First, they need to develop opportunities that allow for diverse representation within the leadership of the organization. Second, they need to implement processes that not only recruit, but help to retain diverse candidates. Finally, I feel that it is crucial for asset management firms (i.e., venture capital and private equity) to develop investment criteria to fund diverse founders. Through this investment, we will have more organizations owned and operated by diverse entrepreneurs, providing representative examples of achievement and an even higher probability of opportunities for diverse candidates.

Do you have any other comments or anecdotes you would like to share?

“The best way to not feel hopeless is to get up and do something. Don’t wait for good things to happen to you. If you go out and make some good things happen, you will fill the world with hope, you will fill yourself with hope.” – Barack Obama

Why did you choose Rice Business?

Prior to Rice, most of my educational and professional experiences have been within large institutions where it is often times difficult to have a voice and meaningful impact. To change that narrative, I chose to pursue my MBA at Rice. Given the smaller class sizes, collaboration and diverse community, I knew Rice would be perfect for me. In fact, the diverse community Rice has built has allowed me to be my authentic African-American self.

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What are you most proud of from your time at Rice Business?

I have a lot to be proud of and most times I don’t give myself enough credit because of how much more I know there is to be done. To count my flowers, however, I will say I am proud of the job offers I received since being admitted to Rice, and I am proud of the work I am currently doing with the Consortium as a first-year rep to bring even more diversity to Rice! 

How has your Rice helped you in your career?

The Career Development Office has been extremely helpful in helping me navigate my career pivot, but the Rice network – or family, as I like to call it – has helped me tremendously on my journey to Rice and during my time here. The network is extensive and always willing to help in whatever way they can. Talking to alums in the industry about their MBA journey and careers has been enlightening and helped me carve out my goals and aspirations in the field. 

What advice would you give prospective students who are considering an MBA?

The MBA journey is very much one of re-discovering oneself and truly being honest with what impact you want to have on the world. That said, do not take it lightly. Allow yourself to go through the process and get clarity along the way. When done right, it is a very rewarding path. Do not doubt yourself because you belong wherever it is you want to go. Last but not least, be intentional. Write down what it is you want to get out of an MBA and go where you can accomplish that.  

What do you think organizations should do better to build a diverse, equitable and inclusive environment?

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Organizations first need to truly understand why diversity is important and see its value in a community. It’s not about satisfying a quota but seeing value in every human being and breaking societal norms and biases. To build diverse, equitable and inclusive organizations, they need to be conscious of where their weaknesses lie and have active plans set in place to evolve. These plans do not stop at recruiting diverse talent but ensuring safe environments to keep and promote diverse talent.

What suggestions do you have to work with allies within the workplace or at school?

The beauty of the MBA at Rice is the opportunity to learn firsthand about biases different groups go through. They are highlighted within our circles and in the classroom so that as leaders of tomorrow, we do not fall into the patterns of the past. As an ally, LISTEN to the concerns of others and learn. Understand boundaries with other groups and speak up for others when needed. 

Do you have any other comments or anecdotes you would like to share?

In honor of Black History Month, I’d like to recognize the Black Business Student Association (BBSA) which has created a community within a community for Black MBA students. Representation as we know is vital in any organization; the BBSA has created a safe space and constantly enforced the importance of our presence on Rice campus. They truly are Black Excellence. 

Why did you choose Rice Business?

I chose Rice Business because I felt I would be supported in my MBA experience. I knew the stellar reputation, small class size, ample financial aid and focus on entrepreneurship would provide the foundation I needed to successfully launch the next chapter of my career. 

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What are you most proud of from your time at Rice Business?

I am proud of the fact that I will be one of the first alum to enter the Luxury Goods industry. I accomplished my main goal when entering business school which was to secure a product development internship and a full time offer at a beauty company in New York City. After an amazing summer internship, I will be moving to NYC following graduation to work for a leading company in the Luxury Goods sector as a Product Development Manager. I look forward to the opportunity to create a pipeline for future Owls who come after me that are interested in beauty, fashion and luxury goods, as that is an extremely underrepresented student demographic at Rice Business. I hope to encourage others to pursue more unconventional paths with your MBA. My MBA journey has led me to my dream opportunity, so I believe it is possible for other people as well. While there were times I felt somewhat isolated and misunderstood due to how unique my experience has been, ultimately I feel like a trail blazer and am extremely proud of what I have been able to accomplish throughout my time at Rice Business. 

How has your Rice helped you in your career?

My time at Rice Business has fueled my passion for business strategy and has helped me to recognize the broad applications of that skillset. Additionally, being from a top tier program like Rice has enabled me to have extremely meaningful conversations in my industry of interest. People are very receptive to students at top MBA programs so I am thankful to have the Rice name supporting me. 

What advice would you give prospective students who are considering an MBA?

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If you are interested in pursuing an MBA do your research, put in the work, and most importantly, believe in yourself. Even if you believe you have an unconventional professional background like myself (I was a hairstylist before business school), what matters most is you believing you belong in an MBA program, and how you communicate your belief that an MBA fits into your unique story. 

What do you think organizations should do better to build a diverse, equitable and inclusive environment?

I believe that diversity training is an extremely important first step for organizations. There must be a space to facilitate uncomfortable conversations. Additionally, inclusivity is the most important element of diversity, equity and inclusion. Without ensuring diverse members of an organization are included in an equitable manner, there is no point!

What suggestions do you have to work with allies within the workplace or at school?

Identifying and aligning around a common goal is always the best way to begin when working with others. Whether that goal be directly related to workplace tasks or related to ethical concerns, that must be the starting point for any fruitful collaboration.

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Owl Have You Know

Sha Hornsby joins host David Droogleever to discuss her work at Rice Business, how to recruit top job candidates and the impact the Great Resignation has had on the working world.

Subscribe to Owl Have You Know on Apple Podcasts, Spotify, Youtube or wherever you find your favorite podcasts.