Saturday, May 28, 2011

Exactly a year ago, I ended a thoroughly enjoyable chapter in my life. The last year has been eventful to say the least but more than anything else, it has led to a heightened degree of self-awareness. Perhaps that is the success of business school education - self-assured leaders.

This awareness extends to beyond the dynamics of the workplace and your efficiency as a leader, especially if this transition to business school completely changes the environment you were originally accustomed to. Personally, I have been exposed to ideas at a level I have never experienced before. The learning curve in the last year, though not very steep, has been satisfying.

A year forward, two weeks from final exams and the summer internship, all of my Competitive Strategy material plays out in front of me as an eventful phase draws to a close. Sometimes endings make us question our judgement in the past but I didn't take Corp Fin for nothing - sunk costs are exactly that - sunk. While measuring the NPV of a project, you only measure future cash flows. The 787 will change the history of aviation, never mind the delays and penalties to ANA.

48,000 points, a debt-ridden bank account and lost sleep won't fix themselves but I'll live - without bringing a fraudulent conveyance action against myself or anyone else. It takes foresight to reject a negative NPV project and realize that no trade-offs or the particular trade-offs involved make the project too risky and raise the cost of capital.

From all the advice I have given myself this year, the best has been - will power and hard work can get you whatever/wherever you want. Any excuse just means you don't want it enough - in all the success stories I have heard so far, what stood out was humility and hard work. They definitely gave Lady Luck her due but didn't play down the effort involved.

(And yes, when you do get what you want, if people important to you can't be happy for you, they should no longer be important to you.)

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