The business world is constantly evolving. If you’re in the field of consulting and professional services, it’s imperative you’re able to evolve with it (or in some cases before it). Stephanie Smith, a valuation services director and government contracting senior analyst with RSM US LLP (“RSM”), the nation’s leading provider of assurance, tax and consulting services focused on the middle market, has spent most of her professional career specializing as a financial consultant within the government contracting ecosystem. Recently, her organization gave her the opportunity to broaden her skillset and perspective. “The firm wants to prepare us to lead through change - as RSM continues to transform into a digital firm that serves our clients in an innovative way. We have to help position the firm to solve our clients’ problems of tomorrow, not just today.”
Investing in talent
Five years ago, RSM created the Industry Eminence Program – an innovative program to position industry senior analysts, like Stephanie, to help the firm advise clients on conditions impacting middle market leaders. Under the guidance of their Chief Economist and Deputy Chief Economist, the program positions senior analysts to understand, forecast and communicate economic, business and technological trends shaping the industries they serve.
During the inaugural run of the program, RSM pursued additional strategy and innovation thought leadership. As they researched what external resources might be available to supplement the program, they discovered MIT Sloan Executive Education and realized the Executive Certificate in Strategy and Innovation aligned perfectly with their internal curriculum and goals for the firm.
As a result, during the final year of RSM’s three-year development program, participants enroll in the Strategy and Innovation track and earn their Executive Certificate. The company made Business Model Innovation for Organizational Transformation and Platform Strategy: Building and Thriving in a Vibrant Ecosystem mandatory courses. However, the two remaining courses needed to fulfill the certificate requirement were up to the participant’s choosing.
“I was excited to get an Executive Certificate from MIT Sloan before I even started the RSM program given MIT Sloan's reputation in the worlds of both business and academia. That strengthened after I completed the program. At that point, I didn't have to trust the word on the street – I saw the data-driven, innovative and immersive nature of an MIT education first hand.”
Getting started
When Stephanie took her first Executive Education course, the world was cautiously emerging from pandemic lockdowns, so she focused on live online course offerings. “I was skeptical coming out of multiple years of so many video calls and virtual trainings and dealing with Zoom fatigue – but I thought MIT did a great job!”
Her favorite course was Platform Strategy – offered in a new live online format that parsed the course material out for a couple hours each day over ten days. (Most live online courses tend to run for eight hours over two days.) “As someone in professional services that has a lot of clients, it was actually easier to carve out a couple hours every morning versus being completely off the grid for 2-3 days. I liked being able to process and digest smaller chunks of content, as opposed to an all-day session and leave with my head spinning.” But the structure wasn’t the only reason this course was a favorite. It also resonated with a lot of the current business challenges she was experiencing. “It was the most challenging but also the most rewarding course. So many of our clients either have or are shifting toward platform business models. Long gone are the days where a business model could be described in just a word or two like manufacturer, distributor, professional services, etc. This course helped me to understand the businesses I serve more deeply.”
Building blocks of knowledge
One common misconception among participants when they take their first course is that the content exists in a siloed universe. They soon learn that these are not disparate courses. The frameworks and thought leadership in one offering often enhance the lessons in others, building a stronger foundation and a more holistic point of view the more you take. “My other courses, Digital Strategies for Transforming Your Business and Business Model Innovation for Organizational Transformation, doubled down on what I learned in Platform Strategy. However, they also helped me apply the lessons to RSM’s business model and consider important questions about the competitive environment and how that’s changing.”
“Between the four courses, although they were all very different, together they all fed into equipping you to prepare yourself, your firm, and your client for how business will look like in future within the digital revolution.”
Stephanie’s final course was Communication and Persuasion in the Digital Age. Due to her current role, this is a skillset she feels can always use fine-tuning and it’s why she chose it. Every day she’s able to apply lessons learned from the course to be more persuasive in her communication and enact necessary change in her organization (and beyond).
“Between the four courses, although they were all very different, together they all fed into equipping you to prepare yourself, your firm, and your client for how business will look like in future within the digital revolution.”
The value of human connection
The past few years have demonstrated the importance of human connection and social networks. Although she began her Executive Education virtually, the format still allowed Stephanie to make meaningful connections. “The virtual breakout rooms would rotate every time. I was constantly meeting people from different countries, industries, and roles. It was so fascinating! How often do you get to meet that many super sharp people all at one time?”
Stephanie Smith (L) with a fellow Executive Education participant
While she really valued the online experience, there was just something special about taking a course in person. “Having the opportunity to go to Cambridge was awesome. I wish I could have done every single course in person. The city is great, MIT campus is great, and I loved the people element of things. I loved the feeling of being back in school and being in a classroom.”
Connections extended beyond the classroom and the standard LinkedIn follows though. For example, Stephanie and her cohort would wake up early before class and go for walks around the city – developing professional relationships and friendships. It was difficult not to feel inspired on campus. “Aside from the faculty, the caliber of participants and their enthusiasm was great. They’re all there because they want to learn and are wrestling with their own difficult concepts.”
Communication and Persuasion in the Digital Age participant group photo
What Stephanie quickly realized was that even though everyone was facing their own industry-specific challenges, it was important to step outside your bubble if you truly wanted an enhanced learning experience. “What I didn’t appreciate at first was just how beneficial wrestling through topics with a very diverse set of participants would be. I learned so much more talking to people with completely different perspectives … having those conversations and understanding how else the concepts could be applied across industries, roles, and cultures… that’s where the real magic happened.”
A lasting impression
With an Executive Certificate in Strategy and Innovation under her belt, Stephanie has been able to immediately apply lessons learned, and understands the responsibility that comes with experience. “Now the change is on me. I need to use the knowledge, skills and experience I obtained throughout this program to affect change in my organization. At that point, I don't have to prove the value of my Executive Certificate to my colleagues - they will see it in action.”
The journey is far from over though. Stephanie admits the course catalog is bookmarked as a resource for whenever she needs to fill a future knowledge gap. And she looks forward to coming back to campus soon. She encourages those who are about to embark on their own journey to take advantage of the diversity of thought in the room. Whether it’s in a virtual breakout room or at a group table on campus, she encourages individuals to take the time to get to know their peers and probe them with questions. “You quickly realize just how much each of us miss out when we’re thinking about and applying concepts in a singular way related only to your organization. Don’t just think how something applies to your business, but how something applies to theirs. You’ll be so surprised by how much you can learn viewing things from a different angle.”
Learn more about earning an Executive Certificate.
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Contributed by Elaine Santoyo Goldman