The valley is home to some of the most famous names in tech startups such as Facebook, Google, Uber and Apple. The students will attend lectures by entrepreneurs and academics. They will also visit venture capitalists, angel investors and the offices and bases of some of the fastest growing start-ups in the world, Warwick said in a release.

John Lyon, Professor of Practice in the Entrepreneurship & Innovation Group who worked in Silicon Valley as Global Vice President of clinical trials giant Covance, said, “This is a great chance for students to bring back some of the magic of Silicon Valley. It is like no place on earth, where the entrepreneurial spirit is celebrated and venture capitalists are on the hunt for the next Uber or Facebook.”

Thousands of companies are headquartered in Silicon Valley, with 39 of the Fortune 100 companies based there. San Francisco and the Bay Area has the highest concentration of venture capital funding in the world, 15.4% of the $42 billion invested globally in 2012 according to The Atlantic.

The module is available on the Full-time and Executive MBA or on the MBA with Entrepreneurship Specialism, which also includes a module on Entrepreneurship and New Venture Creation plus the chance to develop your start-up idea alongside academics and experts from industry.

The module is available on the Full-time and Executive MBA or on the MBA with Entrepreneurship Specialism, which also includes a module on Entrepreneurship and New Venture Creation plus the chance to develop your start-up idea alongside academics and experts from industry.

Professor Lyon, who has also held non-executive and chairman roles as a venture capitalist and angel investor, said, “We will be using seasoned Silicon Valley entrepreneurs and real life businesses to take the students through the journey of a start-up; how to get finance, build the product and people, the pitching, rounds of funding and slowly grow the business.

“After they have soaked up the journey, we will ask students to pitch using a business case study to raise millions of dollars.”

The lectures will include one from Professor Chris Haroun, venture capitalist and serial Bay Area entrepreneur who founded Haroun Education Ventures and also teaches at Stanford University.

The module is not just for budding entrepreneurs, but also for those wanting to develop an entrepreneurial mindset as companies are now looking for ‘intrepreneurs’ to create and disrupt before they are disrupted themselves. “Entrepreneurship is a mindset that can be learned and is something increasingly sought after in the workplace,” Prof Lyon said.

“Silicon Valley is a colourful place where innovation and taking risks is revered. It is expected that certain risks are taken, but when they believe in something that belief and passion will take them further. VCs there tend to be more accepting of that philosophy, whereas in Europe they are more risk-averse,” he added.

“Rather than the technical know-how, it is the passion, vision and story-building that students need to learn to impress potential investors,” Prof. Lyon pointed out.

“Investors look for passion rather than financial numbers. That is what is required to get the start-up over the line. When an investor’s heart is captured by a pitch, supposed to their head, they are more likely to listen to the rest of the presentation.

“In the US they talk about vision. I tell my students that the vision is the first thing you need to get right and you need to get it in the first 60 seconds of the pitch, emotion plays a big part in a pitch. Expressing the vision, and showing ‘why we are passionate about this’ is very important,” he said.

“A start-up is all about the future, there is nothing but hope. All the figures are projections, there is nothing historical, while a business plan will be out of date in weeks. Investors will look at you and wonder what is underlying the figures, will you be tenacious and still hang in there when the going gets tough? Entrepreneurs are good at it in the US and that is something we need to learn in Europe,” Prof Lyon added.

The Coventry, UK-based Warwick Business School’s full-time 1-year program begins in late September and concludes in the same month the next year on completion of a management consultancy project. It has an annual intake of about 75 students.(Image Source:Wikipedia.org)

The award places WBS in an elite group of business schools worldwide, who hold the sought-after triple crown gold standard in business education which comprises accreditation from AACSB, AMBA and EQUIS.

The Association to Advance Collegiate Schools of Business (AACSB) is a global association dedicated to advancing management education worldwide while AMBA is The Association of MBAs, international authority on postgraduate business education.

The fundamental objective of EQUIS is to raise the standard of management education worldwide. Thus, the schools must demonstrate a balance between high academic quality and professional relevance along with close interaction with the corporate world to qualify for the award.

It also attaches particular importance to the creation of an effective learning environment that favours the development of students’ managerial and entrepreneurial skills, and fosters their sense of global responsibility. Innovation in all respects, including programme design and pedagogy, is also expected.

The full five-year re-accreditation is awarded to business schools that meet all the EQUIS quality standards and signifies that these schools are good in all areas and excellent in some of them. WBS is one of only 15 UK business schools to hold full five-year EQUIS accreditation.

“We are delighted to have received re-accreditation for the maximum period and were commended on the result by an esteemed EQUIS panel,” WBS Dean Prof. Mark Taylor said.

“The panel also endorsed the ambitions and strategic direction of the school – to be a world leader in business education, research and engagement, helping to create a better global society,” he added.

Warwick Business School, located in central England, offers the full portfolio of business education courses, from undergraduate to MBAs, as also a Doctoral Programme.

The school has around 6,000 students, from 125 countries, on its rolls. Just under half of faculty are non-UK, or have worked abroad. Dean, Prof. Mark P Taylor, is among the most highly-cited scholars and was previously Managing Director at BlackRock, Investment Management corporation.

Networking is seen as the way to progress a career, but companies hiring through business contacts could be harming their performance.

By using the data-rich world of professional basketball, researchers analysed the signings and performance of every team in the National Basketball Association (NBA) in the US from 1977 to 2011.

In the paper Managers’ external social ties at work: Blessing or curse for the firm?, published in the Journal of Economic Behavior & Organization, Leif Brandes, of Warwick Business School, Marc Brechot and Egon Franck, of University of Zurich found that those teams who signed players through their managers’ contacts at his old clubs produced a lower winning percentage than those sides that didn’t do this.

Far from the manager’s contacts giving him inside information it seems to have produced a negative effect on the team.

Dr Brandes said: “We found teams with ‘tie-hired-players’ – that is those where the manager signed the player through former colleagues on the coaching staff or among the owners at one of their old clubs – win 45.2 per cent of their regular season games, while teams without such players win 50.2 per cent of their games. And that is after controlling for a team’s budget and quality differences in teams and managers.

“Pre-existing strong social ties to colleagues at a former business in the same industry are potentially very influential as they create opportunities for various deals and transactions. But our study found evidence that such external business contacts interfere with a company’s ability to select the best transaction partner.”

“Anecdotally it seems firms often seek well-connected employees, but our industry-wide analysis shows the hidden costs of such hiring practices.”

“Pre-existing strong social ties to colleagues at a former business in the same industry are potentially very influential as they create opportunities for various deals and transactions. But our study found evidence that such external business contacts interfere with a company’s ability to select the best transaction partner.”

Such was the negative result in the NBA that teams risked losing a place in the play-offs when signing a player from a side with ties to their manager. 

Owners beware

In spite of this negative performance effect, Dr Brandes and colleagues found that the 146 active managers between 1977 and 2011 were on average 32 per cent more likely to acquire players from teams they had been at before than from unrelated teams, resulting in a total of 190 tie-hired-players.

“We also found the negative performance effect is entirely driven by managers under team owners who do not have strong incentives to scrutinise their manager’s decisions,” said Dr Brandes.

“These are owners who have brought in the manager, so will give them more leeway as firing them means they are admitting to a mistake.

“If the owner arrives after the manager, the manager is scrutinised more as he is easier to fire, because they are correcting someone else’s hiring mistake, and not their own.”

Information on manager turnover in the NBA supports the idea that new owners engage in stronger monitoring as within one year of an ownership change, 48 per cent of pre-existing managers are replaced. This would suggest under new ownership, a manager would come under far more scrutiny.

Short-termist

The findings suggest managers use their social network to reduce time and expense in looking for a business partner in the short-term, and not to maximise performance in the long-term – which would be in the best interest of shareholders or owners.

The findings suggest managers use their social network to reduce time and expense in looking for a business partner in the short-term, and not to maximise performance in the long-term – which would be in the best interest of shareholders or owners.

Dr Brandes added: “While the setting of this analysis is unusual, the results of our study have fairly broad implications. Several studies in the management and economics literature reveal that employees’ external social network influences their decision-making on behalf of the firm, for example, in connection with hiring, financing or investing.

“The fact that these business ties persist beyond shared working experiences makes them potentially influential in decisions made on behalf of the company.

“Basketball provides a data-rich environment to explore what effect these ties outside the company have on performance and we find the negative effect of a manager’s business contacts is large.

“It is something managers and companies need to consider when making decisions in both hiring and in other transactions.”

Lief Brandes teaches International Marketing on Warwick Business School’s Undergraduate programme and Marketing on the Executive MBA, which is taught part-time at WBS London at The Shard.

Vancouver is renowned for its outstanding natural beauty, as it sits on the west coast of Canada, surrounded by the majestic North Shore Mountains, with gorgeous rivers, an active volcano and a rainforest full of amazing wildlife, all within easy reach of the city.

“I’m into nature so I found Vancouver wonderful,” says Peruvian Miss Cordova Ramos. “Watching the Orcas in their natural environment was amazing. I saw them by seaplane and then I joined a group in a boat to see the marine life around Victoria, which is on Vancouver Island.

Bird’s eye view: on the way to Vancouver

Learning about new cultures

But for Miss Cordova Ramos, 33, the nature and green-living ways of Vancouver, which aims to use 100 per cent renewable energy within 20 years, were not the only highlights of an all-expenses paid trip that was part of her full-time MBA. 

She also made valuable contacts, discovered different ways of setting up a business and found out how learning about new cultures opens up new opportunities.

We went to Vancouver International Airport,” says Miss Cordova Ramos. “We had the opportunity to learn about the operations, the future plans and what makes this airport different.

“There were so many new perspectives,” says Miss Cordova Ramos, who was Head of Finance at real estate firm Urbanova in Lima, Peru, before embarking on an MBA.

“For me, the highlight of the trip was meeting and gaining insights from top bankers from some of the largest Canadian banks and investments banks. You could see things you haven’t seen before, and think how you can implement them whether it is in the UK or back in South America. It also helped to see gaps in the various markets.

The Vancouver skyline combines natural beauty with a modern vibe – much like the city itself

“Learning to see things from the other side of the table; I think that’s the biggest lesson to draw from the trip. Understanding cultures, even in business, you’ll understand different things.”

“That’s a big thing to take away from the trip – linking the theory we’ve learnt, with experience with people out in the field. In my case I could bring my perspective from South America and compare it with that of Canada and now the UK.

Company tours

The MBA students looking around a sustainable building

The trip, which was part of the Leadership Plus module, included a programme of lectures at Sauder Business School relevant to core topics taught on the MBA with a specific focus on British Columbia and Canada, its financial positioning on a global scale and its wealth of natural resources.

As part of this, a panel of guest speakers made up of local businesses plus company tours allowed the teaching to be put into context.

“We went to Vancouver International Airport,” says Miss Cordova Ramos. “We had the opportunity to learn about the operations, the future plans and what makes this airport different. Their focus on passenger satisfaction is smartly covered by a program based on having the help of retired people as volunteers to guide the tourists at their arrival, making it a much friendlier and warmer experience.”    

“We also visited Endurance Windpower, a Green energy company where we had the opportunity to have a productive one-to-one conversation with Allan Thompson, Director, Operations, where he explained their production line and how they operate with overseas markets.”

Indian Karishma Frank, 26, who worked for advertising agency Wieden+Kennedy in Delhi, found a visit to an e-commerce company fascinating.

Indian Karishma Frank, 26, who worked for advertising agency Wieden+Kennedy in Delhi, found a visit to an e-commerce company fascinating. As a brand strategy planner, she worked with the likes of Nike and Old Spice before enrolling on the MBA.

“We went to a cloud consulting firm involved in data-driven marketing,” says Ms Frank, who, as a brand strategy planner, worked with the likes of Nike and Old Spice before enrolling on the MBA.

“Going to these companies was best for me as it is highly relevant for any modern day marketeer. Getting insight into the company’s daily challenges gave me great perspective, as these are areas I would like to explore further.”.

“We also visited the football team Vancouver Whitecaps and spoke to the social media marketing manager which was quite interesting.”

“It’s one thing being in a classroom with people of 25 different nationalities, but then going out to another continent, meeting different MBA students, engaging with professionals and entrepreneurs, learning from international professors; the cultural immersion is unparalleled and has greatly added to my overall experience”

Diverse cultures

“I was looking for a global MBA that gave exposure to a diverse culture, and so the trip to Vancouver was a great way to do this.

“It’s one thing being in a classroom with people of 25 different nationalities, but then going out to another continent, meeting different MBA students, engaging with professionals and entrepreneurs, learning from international professors; the cultural immersion is unparalleled and has greatly added to my overall experience at Warwick.

A scenic view of the Vancouver skyline in the distance

“As a researcher interested in socio-cultural trends, of my trips to Germany, Dublin and Vancouver this was by far the most culturally immersive so that’s why I enjoyed it the most. The tour to the anthropology museum and the sessions on the First Nations was very inspiring”

Vancouver also provided students a fantastic way to unwind from the heavy workload of an MBA, while still learning and benefiting from the opportunities to network and bond according to Gareth Roberts, 35.

The Welsh MBA student says: “The intensity of studying a full-time MBA can be overwhelming at times, and therefore the study trip to Vancouver was an excellent time for the cohort to bond outside of group norms and cement long lasting friendships and alumni networks.

Unique perspective

But what makes Vancouver stand out? Mr Roberts believes it is because the Canadian city is such a different experience to the UK, giving a totally unique perspective on things.

“Vancouver regularly features as one of the top cities in the world to live and work in; therefore making this a fantastic location for a WBS study trip,” says Mr Roberts, who left his job as Design Manager at Design Reality in North Wales to do an MBA. “The links with Sauder Business School ensures that all WBS full-time MBA students have an opportunity to experience a global perspective as part of their studies.

“Overall, the quality of the teaching, guest speakers and company tours were second to none. Vancouver will remain a highlight of the MBA for most students, and that’s without mentioning a day’s skiing in Whistler!”

Getting the most out of the trip

The trip to Vancouver, with lectures, tours of companies and a look at how a truly green and sustainable economy works is a once in a lifetime opportunity, which Miss Cordova Ramos believes has to be approached with an open mind and plenty of energy.

Miss Cordova Ramos adds: “Embrace every activity, participate a lot and ask lots of questions, it doesn’t matter how silly you think they are. Make the best of the time, it is a bit tiring to do things in the early morning or later in the evening, but to get the best out of the trip you really need to do that. Be open to different cultures, you might sleep a little less during the week, but it is well worth it. Be an explorer – see beyond the place itself.”