Becoming a Business Junkie

Presumably, if you’re heading to b-school in the near future, you have some interest in business.  And no matter what shape that takes, if you’re getting an MBA, you’re going to need to be/get conversant in the language of business.

If you already are, great, you’re a step ahead of the game.  If you’re not, here are a few things you can start reading now so you don’t need an english-to-business dictionary when you show up to the first day of class.

Newspapers and Magazines.  Depending on your comfort level, I’d suggest reading any and all of the following (listed in approximate order from less daunting to more daunting):  Portfolio, Fortune, Forbes, Business Week, The New York Times Business Section, Wall Street Journal and The Financial Times (note: you’ll need a subscription to read many articles on both the WSJ and FT sites).  It’s also a good idea to get in the habit of reading this stuff now because you will undoubtedly take at least a few classes that will require you to be up to speed on the latest news.  And even if you don’t, your classes will have more meaning if you can connect the concepts you learn in class with real things happening out in the world.

Business Websites.  In addition to the websites for the newspapers and magazines listed above, sites like Yahoo! Finance, MarketWatch and Bloomberg have great up-to-the-minute stories on just about every company and industry. And there are literally hundreds of others you could read, depending on what you’re interested in (don’t forget to search for trade magazines in any industries that you’re interested in; a good place to start is here).  Also, go ahead and set up some Google Alerts for topics that interest you, or some RSS feeds for your favorite sites so the news will come to you instead of you having to go to the news.

Business Books.  If you have the time, business books are a way to get deep into a company, industry, executive or topic.  Again, depending on what you’re interested in, there are limitless possibilities here.  Three interesting books that I read prior to school were: Taken for a Ride: How Daimler-Benz Drove Off With Chrysler, Jack: Straight from the Gut and Three Blind Mice: How the TV Networks Lost Their Way.

Business Cases.  Depending what school you’re heading to, you’re going to see either: 1) some, 2) all or 3) too many, of these.  In many classes, reading and discussing business cases may be the main teaching method.  Seeing as that’s the case, why not head over to the Harvard Business Publishing website and search for a company and industry you’re interested in and see what comes up.  If you want to read the actual case, you have to buy a copy (most cost around $7), but if there are two or three that pique your interest, I’d definitely recommend shelling out a little cash.  That way, when you start classes, the “business case” won’t be such a mystery.

B-School Journals.  If you’re feeling really ambitious, and want to see what some of the current hot topics are in business research circles, check out some journal articles from professors at some of the top business schools around the world.  Some of the more well-know journals and websites include the Harvard Business Review, Knowledge@Wharton, the University of Chicago’s Captial Ideas, and the University of Toronto’s Rotman magazine (links to a pdf).  These are much more academic, but since you’re headed into an academic setting, it might be worthwhile to check one or more out.

If this all sounds a little daunting, start at one or two sites and spend a few minutes at each one every couple of days.  And if you read things you don’t understand, write down your questions and keep them handy when you start school – there’s a good chance they’ll come up again at some point.

As an aside, it’s a good idea to bookmark the Harvard Business Publishing website - you never know when you might need a case to supplement your research or for a group project.

Already a business information junkie?  Have any of your own secrets or favorite sites?  Please share with the class!  Post a comment below.