HBS Stanford and the all that comes with it
Hey Guys first post here,
My Background
I come from a third world country and did my undergrad in a good school in Europe mainly focused on hospitality (Ranked top 3 in hospitality) got a BBA and two hospitality diplomas and a specification in marketing. I then went to work at my family's firm we own restaurants across the Middle East 13 locations to be exact and mainly franchised with Private Equity Firms and different kinds of funds. The experience was good I got promoted to Directors of Finance and Buisness development two departments created when I stepped in the firm. I then went on to studying alternative asset management with Cornell and corporate finance with Harvard I earned a certificate from both with As in all of my classes. I have completed an investment banking(at a local bank) and deals advisory internship at a Big 4 accounting .Any advice on wether I should stay with the family firm or bounce. The firms EBITDA has been dropping by 33% and overall mainly due to missmanagment (did a research with a Masters in Business Administration class from Stanford and the students gave us recomendations ). After trying to discuss the issue with the CEO (dad) he doesn't seem to care much he wants me and my siblings to get along but I feel he's just not ready to give up power. No real succession planing and we basically spend the day doing simple stuff. He wants me to spend the day at restaurants now and abandon the job descriptions.
I'm considerig Bschool at Harvard or Stanford and then moving into PE or investment banking I don't want to stay in the Middle East I'm also on the National team for one of the sports that I played in college and I started an NGO that helps refugees.Any advice would be appreciated.
Should I walk away ? Do my Masters in Business Administration MBA and reconsider ?
Do you have offers from both? If not, then this is a moot question. Get in first and then we can advise you on which school.
Are you asking IF you should do any MBA? You have a priveliged situation here -- a family business that has potential to expand with you at the helm. An MBA from a prestigious school could be helpful, and there are plenty other kids with similar situations. Many families send their kids to these schools to get the line on the resume, then hand over the reins. From your post, I'm not sure if that is what's happening, or if you are just bored with your family business and see an MBA as an escape route.
Honestly, and objectively, based on the numerous spelling mistakes in your post and the way in which you have presented both your qualifications and arguments, I am inclined to think you are not yet mature enough to take over your family business. Perhaps this is why your dad is not yet ready for succession. Go get a few more years of ANY experience, and you may not need an MBA.
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